Archive for the 'Careers' Category
Becoming a Loan Officer
Author: Moniker
During the recent real estate boom many people made a fortune handling residential mortgages. As the market begins to recover in many parts of the country, some people think it is the perfect time to get into the game. They need to realize that they can’t just set up shop as a loan officer or mortgage broker. In order to be employed by a mortgage bank or broker firm, they will need to obtain the appropriate state license. They will also need that license if they want to open their own firm.
The requirements for mortgage brokers and loan officers are determined by each state, usually by the banking department or commission. As a result of the recent crash, there are some federal guidelines set for licensing, but those have been incorporated into the state requirements. All states require that individuals complete extensive Loan Officer Training . They must provide documentation of the training as well as pass appropriate exams proving they have mastered federal and state mortgage law and understand lending practices as well as products.
In addition to education, most states require that brokers and loan officers pass extensive background and credit checks. They usually must be fingerprinted and may have to purchase liability insurance. The requirements vary from state to state, so the first step is contacting the state agency to find out what is involved and to obtain the necessary application and other paperwork.
Licensing and education requirements don’t stop once the initial license is granted. States routinely require continuing education and additional checks when licenses are renewed.
read comments (0)Internships Have Many Benefits
Author: Moniker
Many college students seriously consider taking an internship at some point in their studies. Besides being a way to get college credit while earning money, there are other internship benefits that can tip the scale in favor of this pursuit.
Internships help students begin to develop a professional network . Getting to know people in a potential career field can be invaluable when it comes time to find that first job after graduation. Interns can also use their fledgling networks to determine if the career is right for them, not just whether a specific company is a good fit.
Internships can be a great place to find mentors. Students may be assigned a mentor as part of their internship or may simply be exposed to a wealth of potential mentors both in their workplace and in their growing business network. Savvy interns will keep a watch for established, successful individuals that can provide insight and share experiences that will be invaluable during the current internship and continue throughout their college years and future career.
Interns develop work skills such as teamwork, time management, and general business procedures. These are in addition to job specific skills. These skills, and the overall work experience will look good to prospective employers once the student enters the job market, degree in hand.
Some internships actually turn into business opportunities. Organizations like Southwestern Company encompass a variety of individual companies in different fields. Successful completion of their internship program can lead to at least an interview at one or more of the member companies. Some companies regularly hire from their intern pool, which is an important fact to research before choosing an internship.
Whether or not an internship leads directly to employment after graduation, there is no question that a successful internship program, or series of internships throughout college, can greatly impact the life of most students.