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Home Sellers, HomeBuyers, MLO Education, Mortgage Industry, Real Estate, Real Estate Blogs, Real Estate Courses for most US States
Mortgage Industry Glossary – Terms Everyone Should Know
By the CEShop Team Common Mortgage Terms and Definitions Whether you are a mortgage lender, borrower, or real estate agent, navigating your way through the mortgage loan process can be challenging. Having a list of mortgage terms handy helps everyone benefit during the process. To help you enjoy smooth sailing during the mortgage loan process, we’ve put together a list of the most widely used mortgage term definitions in the industry. Mortgage Terms: Adjustable-Rate Mortgage (ARM) Amortization Annual Percentage Rate (APR) Appraisal Fee Appraised Value Borrower Defaults Borrower’s Credit Borrower’s Closing Costs Closing Disclosure Conventional Loan Conventional Mortgage Credit Report Creditworthiness Debt-to-Income Ratio Deed of Trust Down Payment Earnest Money…
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Loan Officers, Loan Originator Career, MLO Education, MLO's, Mortgage Industry, Mortgage Loan Originators, Mortgage Originator Education, Mortgage Originators
The Top 5 Tech Tools for Mortgage Loan Officers
Feb 23, 2022 by the CE Shop Team These Tech Tools Are Made to Help Mortgage Loan Officers It’s no secret that technology has improved our personal and professional lives, but have you wondered how to utilize different software and digital services to make your job as a Mortgage Loan Originator even more productive? In this guide, we’ll outline the five most important tech tools Mortgage Loan Officers and Originators (MLOs) need to succeed in 2022. These tools can improve your marketing strategy, increase lead generation, and digitally manage paperwork. Not only will this technology help you, but it’ll create an enjoyable experience for your clients, in turn getting you…
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Loan Officers, Loan Originator Career, MLO Education, MLO's, Mortgage Industry, Mortgage Loan Originators
How do MLO’s make Money?
How You Can Expect to be Paid as a Mortgage Loan Officer Before we explain how Mortgage Loan Officers (MLOs) are paid, let’s check out what you stand to earn as an MLO. Not only do Mortgage Loan Officers enjoy excellent job security, but their annual income varies depending on how many hours they dedicate to working, the mortgage rates in their area, and their commission agreement. In other words, MLOs have the unique ability to earn a hefty paycheck. As of 12/7/2021, the average salary of a Mortgage Loan Officer is $73,756 per year before commission. With a near-unlimited earning potential on the horizon, let’s break down the typical pay structure…
