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Becoming a Mortgage Associate
A professional mortgage associate, essentially, acts as an intermediary between a perspective homebuyer and a lending institution. The mortgage associate works with the buyer to find the best mortgage deal possible. For this service, the mortgage associate receives a fee, or commission, and the buyer is able to purchase the home of his or her dreams.
Consider the qualifications that are required for a good mortgage associate. You must have excellent people skills. A sales or marketing background is helpful, though not required. Having the ability to speak more than one language may also be important depending on your locale. You also need excellent written and verbal communication skills.
While you don’t have to be a mathematical genius, you do need to be adept at using a computer, since much of the job entails searching for new sources of funding and quickly running interest rates, credit reports, and qualifying information. A college degree is not essential, but is definitely a plus. Some type of banking background is also helpful, but, again, not required. The main requirement is drive and a desire to help people, while at the same time making money.
Mortgage associates must be available to work nights and weekends when their customers are available, similar to a real estate agent. They must also be organized and have the ability to multi-task, since, frequently, they will be working with more than one customer at a time. A mortgage broker must also have a sense of urgency. A buyer may not have a lot of time, and the broker needs to get the money quickly so that the buyer will not lose the deal. The broker’s sense of urgency must match the customer’s.
Click here to find out how to become a licensed Mortgage Associate in Alberta.
Additional details can be found at the Alberta Mortgage Brokers Association site.
If you are interested in our mentoring program, please call Brad at 403-685-7025.
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Brad Gavin – VP, MBN Group of Companies
Mortgage Broker – MBN Mortgage Ltd (Associated with Mortgage Intelligence)
111 5809 Macleod Tr SW
Calgary, AB T2H0J9
(403) 685-7025 wk
(866) 955-9662 tf
(403) 968-5337 cell
(866) 269-3499 fax
