How Do I Become a Mortgage Processor?

To become a mortgage processor, consider enrolling in educational programs that certify future loan processors. There are several aspects of the business that can be focused on, including government secured and conventional mortgages. Mortgage brokerage companies and loan officers should be targeted to gain employment experience. In addition to working for mortgage companies, self-employment as an independent mortgage processor is also possible.

While a formal education beyond high school is not required to become a mortgage processor, most employers expect their processors to have a good working knowledge of the industry. Mortgage processor candidates should also be familiar with loan processing guidelines and paperwork. In order to gain that knowledge, certification programs exist to provide specialized education.

Education vendors provide instruction and training in mortgage underwriting and processing. They also teach courses related to the processing of mortgages secured by the government. Since the borrower qualifications for government secured loans vary drastically from conventional loans, separate and detailed certification programs are administered. The type of formal instruction that future processors seek depends on the type of mortgage applications they are most interested in working with.

Educational courses geared towards those who wish to become a mortgage processor do not necessarily take place in a traditional classroom setting. Some of the top rated mortgage processing schools offer online formats that feature live lectures. Since mortgage processors examine applications received from loan officers, courses cover government regulations, ethics, residential and commercial processing, and the basics of processing an application. License requirements may need to be met before employment can be obtained.

For those seeking to become a mortgage processor, entry-level experience is the way to get into the industry. Many processors start at the bottom of a company and pay their dues before reaching higher salary levels and responsibility. Searching for a position as a mortgage processor is similar to other industries. Some certification programs offer assistance with job placement and networking, but the majority of the responsibility falls on the job candidate.

Researching and targeting mortgage brokers and loan officers is a good way to become a mortgage processor. Solicit these companies and private practices to see if they are hiring processors. Sending in a resume and expressing interest might keep the door open for future employment if a position isn't currently vacant. Searching Internet job boards for vacancies and attending job fairs might be additional ways to learn about potential employment opportunities.

Some mortgage processors decide to become self-employed. They may start their own private practice on a part-time basis while working another full-time job. Once an adequate clientele is built up, self-employed processors may devote all of their professional efforts to their businesses.