Is it possible to get a loan processor job with no exp?

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Comments (6)

blev in Charlotte, North Carolina

66 months ago

I'm pretty sure I know the answer to the question already but thought I would ask anyways. I'm looking to make a career change and have always been interested in the mortgage industry.

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unemployed in Ventura, California

65 months ago

blev in Charlotte, North Carolina said: I'm pretty sure I know the answer to the question already but thought I would ask anyways. I'm looking to make a career change and have always been interested in the mortgage industry.

Honestly not a good time to start in the Mortgage Industry. I have a 23 year history on all levels Proceeing to Corporate Operations and there are almost 400 companies that have closed in 2 years. Recently went to a local Mortgage Industry Meeting - 75% of those in the business have moved to other areas. I have been unemployed for 2 years ! Good Luck and I really would not recommend a change at this time !

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dh in Northern CA, California

65 months ago

blev in Charlotte, North Carolina said: I'm pretty sure I know the answer to the question already but thought I would ask anyways. I'm looking to make a career change and have always been interested in the mortgage industry.

Hi blev-I'm curious - what do you do now? I am a former legal secretary from Orange County, CA. Being a legal secretary has got to be one of the most miserable jobs out there. An overwhelming majority of legal secs/paralegals hate their jobs. My goal was to make a career change. I wanted to get into the mortgage industry. This was the beginning of '05. I was taking real estate classes at night and also got my certificate in Loan Processing. I was told having a real estate license would increase my chances.

I went to real estate investment seminars and networked with people. I knew nobody in the mortgage industry, but I made a lot of contacts and every interview I had was gained thru networking, in other words, no cold calling. They would call me back for 2nd interviews and still I couldn't get hired. I had a lot of work experience, none of it in the mortgage industry. My "competitors" had experience. I was absolutely desperate to get out of working for attys and was interviewing for entry level LP jobs that paid, in one case, about 65% of what I was making at the time, but I would have taken the job had they offered it. Sorry for the diatribe. I guess my point is that it's probably a hard industry to get into without experience even in a good economy. I was trying to get in at the end of the period when it was still "good." Now, I have a friend with 20 years' exp who was laid off and can't find work.

Desperate for change, I ended up moving back to my hometown. I'm a full time student and graduate with my degree in Economics this year. I'm 42 years old. I wish you luck.

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Mortgage lady in Frisco, Texas

17 months ago

dh in Northern CA, California said: Hi blev-I'm curious - what do you do now? I am a former legal secretary from Orange County, CA. Being a legal secretary has got to be one of the most miserable jobs out there. An overwhelming majority of legal secs/paralegals hate their jobs. My goal was to make a career change. I wanted to get into the mortgage industry. This was the beginning of '05. I was taking real estate classes at night and also got my certificate in Loan Processing. I was told having a real estate license would increase my chances.

I went to real estate investment seminars and networked with people. I knew nobody in the mortgage industry, but I made a lot of contacts and every interview I had was gained thru networking, in other words, no cold calling. They would call me back for 2nd interviews and still I couldn't get hired. I had a lot of work experience, none of it in the mortgage industry. My "competitors" had experience. I was absolutely desperate to get out of working for attys and was interviewing for entry level LP jobs that paid, in one case, about 65% of what I was making at the time, but I would have taken the job had they offered it. Sorry for the diatribe. I guess my point is that it's probably a hard industry to get into without experience even in a good economy. I was trying to get in at the end of the period when it was still "good." Now, I have a friend with 20 years' exp who was laid off and can't find work.

Desperate for change, I ended up moving back to my hometown. I'm a full time student and graduate with my degree in Economics this year. I'm 42 years old. I wish you luck.

Check out Vericrest Financial. They're rapidly expanding, and have lots of opportunities available. They have campuses in San Diego, Oklahoma City, and Dallas. www.vericrestfinancialjobs.com

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Dan in Austin, Texas

17 months ago

Hi Mortgage lady in Frisco, Texas...where did you get your certificate in Loan Processing? Was it through Loan Processor University? I'm currently taking The Loan Processor Boot Camp through LenderTraining.com, but I'm afraid (after reading these posts on Indeed.com) that it is a waste of time, because there are no jobs out there - especially for someone with not hands-on experience in mortgage loan processing.

I'm taking a gamble that since the real estate industry is picking up, then the mortgage industry should start to pick up.

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Anxious for a CHANGE!!!! in Mesquite, Texas

14 months ago

I work for one of the "BIG BANKs" and it is extremely difficult to transfer my back-end experience for that of a LOAN PROCESSOR, regardless of skills, education, knowledge of the industry, etc. The MARKET is still very SLOW, as far as recovery....I don't see it recouping anytime soon. At this point we are consumed by foreclosures and buyouts by other servicing companies to resolve workouts or any ad all other unjust issues, layoffs you name it it's happening. So to you all who are seeking a change...... acquire your certificates, and no I would not call it a waste of time.... just preparation. I'm looking into that option myself. Good Luck to you all.

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