How Do You Become A Sales Rep For A Wholesale Mortgage Lender?
Within the mortgage industry there are many different areas where you need at least basic knowledge to become a successful sales rep, also known as an account executive, for a wholesale lender. You need to understand the underwriting process, loan processing, how title insurance works, the mechanics of an appraisal, how yield spread premium works, the various lender’s products and guidelines and what the components of a good loan are. For clarification, a Sales Rep for a wholesale lender calls on Mortgage Brokers and Loan Officers, who have direct contact with the borrower. They have mortgage loan applications that they want to place with a lender for approval and ultimately to fund those loans with. Your clients are the brokers and loan officers. Becoming a Sales Executive, which to many is the dream job within the industry because of the income potential, is not a job you can just walk right into, but there is a formula and path you can follow to help get you there! Step 1 Start out
