Apply to MLO job postings help
Hey guys,
Awhile back I received some good advice on here about transitioning into a career as an MLO. I finished my prelicensing hours and I missed my exam by 2-3 questions (honestly not a hard exam I just studied far too much in areas I thought would be more prevalent). I plan to retake immediately after the 30 day waiting period. In the mean time I'm looking at prospective job listing service and most MLO postings require 1-2yrs experience. I found BoA has a transitional position which looks interesting. So I was wondering how strict are they on the experience before hand and does that mean I would have to start as a loan assistant? I honestly am not feeling that (not because the position is beneath me or anything like that) because the pay is low to mid 30s and I have bills to pay lol. Just making this post to see what my options are. As always thanks for any help in advance!
Instead of looking at job postings, just go walk into offices and start talking to people.
Re: The $30k. A brand new freshly minted MLO isn't an asset, it's a liability. Six months or so is what it'll take to un-learn you of all that garbage you are studying now, and until then you are a time sink. If you find some folks you click with by just walking into offices, you might be able to beat that $30k/yr.
Incidentally, that 6-12 months or so is about how long it'll take until you've got the experience to renegotiate comp or strike out on your own and be your own one-man business-within-a-business.
I agree about the initial time period. I currently am still a licensed claims adjuster and my first few months were rough as the nature of the business being thrown into the fire before we finally got a hold of multi jurisdictional regulations, so I definitely get that unfortunate fact. And yeah I haven't considered just going into a brokerage and meeting directly with them. Thank you!
