The Complete Guide to Becoming a Successful Mortgage Broker: Insider Secrets You Need to Know |  | Author: Patricia Hughes
Publisher: Atlantic Publishing Company
Category: Book
List Price: $24.95
Buy New: $13.66
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Seller: dbrown350
Rating:  6 reviews
Sales Rank: 398366
Media: Paperback
Pages: 288
Number Of Items: 1
Shipping Weight (lbs): 0.1
Dimensions (in): 8.8 x 6.1 x 0.8
ISBN: 1601381301
Dewey Decimal Number: 332.7202373
EAN: 9781601381309
ASIN: 1601381301
Publication Date: July 28, 2008
Availability: Usually ships in 1-2 business days
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Product Description
A reliable mortgage broker is in constant demand and never short on business in any economic condition. According to the U.S. Department of Labor, the average income of mortgage broker s is $43,210. The mortgage brokering business is one of the fastest growing occupations in America today, yet the financial success rate for these new brokers is dismal. It is estimated that less than 30 percent of new mortgage brokers ever become financially successful. Virtually all mortgage brokers are paid strictly on commission, so there is little motivation for the company to help you succeed. You need the proper training to be prepared. This new book will provide you with a road map to financial success. You will learn how NOT to make the big mistakes most new brokers make, how to put a loan package together, how to find borrowers, how and what to charge, how to guarantee your fee, how to make buyers and sellers happy, and how to quickly and easily locate the best deals for your customers. Additionally, this book provides you with information on licensing and exam fees, the expenses of doing business, your vehicle and insurance coverage, sales techniques, simple methods to get hundreds of referrals, software programs that make running your business effortless, the private mortgage segment, the commercial market, secrets to using the Internet, realtors, online tools and ideas, mortgage technology tips, Internet leads, building partnerships, and much more. We also spent thousands of hours interviewing, e-mailing, and communicating with hundreds of today s most successful mortgage brokers. This book is a compilation of their secrets and proven, successful ideas. If you are interested in learning hundreds of hints, tricks, and secrets on how to earn a high, consistent income as a broker, this book is for you.
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| Customer Reviews:
Showing reviews 1-5 of 6
 A Great Career September 2, 2008
Margaret T. McGowan (Schenectady, NY)
1 out of 1 found this review helpful
Are you looking for a new career? You may want to consider becoming a mortgage broker--a "financial professional who acts as an agent between borrowers looking for mortgages and the institutions that offer them." As Patricia Hughes explains in her book The Complete Guide to Becoming a Successful Mortgage Broker: Insider Secrets You Need to Know, mortgage broking can be a very lucrative occupation, and, believe it or not, a formal college degree is not essential, though, depending on the state, a class may be required before taking the certification exam. The author further notes that though "formal education is a plus" that "an effective mortgage broker needs to have good people skills" along with talent in sales and marketing. And the rewards for possessing these skills can be great. Hughes comments that a broker "with over three years of experience...can easily make a six-figure salary."
This very informative "how-to" book presents the pros and cons of working as an independent mortgage broker versus working for a large mortgage brokerage firm, or a smaller firm. And many other topics of interest are covered: Building business, sales techniques, locating borrowers, finding the best deals for clients, putting together a loan package, how to set up your own company, insurance needs, tips for success, state-by-state licensing requirements, and many more.
Hats off to Patricia Hughes, who has done a wonderful job of laying out all this information in a very clear and concise way. She has explained very simply and comprehensibly what would be needed to embark on a career such as mortgage broking, or to improve the skills of an existing broker.
excellent and practical review October 16, 2008
P. Hamburg (Chestnut Hill, MA USA)
1 out of 1 found this review helpful
Given the hurricane-like swirl of destruction from the sub-prime mortgage debacle, a reader might be forgiven for a moment of panic at first encounter with this volume--who would want to become a mortgage broker at a time like this? But upon closer scrutiny, as a far-sighted reader anticipates economic recovery, including recovery of the housing market, opportunity may lie in this unexpected direction. For anyone considering employment as a mortgage broker or setting up an individual business, this book provides a soup-to-nuts program to streamline the process. The author reveals what personal qualities (personal charm, organization, discipline) and knowledge (extensive study of local economic conditions, the housing market, and categories of mortgage financing) and business skills (networking, establishing contacts, marketing, sales techniques) combine to make for a successful mortgage brokerage.
The mortgage broker sits between lenders and borrowers to facilitate successful matches that permit purchases of private and commercial real estate. Especially as one anticipates tight credit conditions and a new mortgage climate that promises difficulty for most borrowers, at least for some time, the skilled mortgage broker becomes an especially valuable person in the real estate world. For a personable, responsible, well-educated, entrepreneurial individual with the ambition to create his/her own successful business, this field may prove just right. Patricia Hughes presents a comprehensive, well-written, careful picture of the entire profession, including every element a newcomer to the field needs to consider to promote success. There are sections about contacts, software, certification (including a state-by-state appendix of regulatory rules), education, advantages of starting out as an employee of an established larger mortgage brokerage (they will educate you and prepare you to go out on your own), and even a list of equipment needed for a functioning home office. For anyone looking to become a mortgage broker this book would be an invaluable reference.
4.5 Stars August 25, 2008
Brandi D. Day (Orlando, FL)
3 out of 3 found this review helpful
This book starts at the beginning and walk through each step of the process to become a successful mortgage broker. It explains all the choices you will need to make as well as the pros and cons of each decision. The book answered all the questions I had and ones I never even considered, like needing a certain minimum net worth. The book is for more than just the start-up mortgage. It's also a great resource for the veteran broker looking to increase business or considering starting up his or her own company. The sales techniques in Chapter 5 are valuable to anyone at any stage of their career. Chapter 17 provides information to help mortgage brokers recognize a slowdown in the coming market and prepare for it. It also provides some tips on how to best take advantage of the time by increasing marketing and education to prepare for the upturn in the market. Unfortunately, no special tips were available for those who might be in the middle of a market downturn without having properly planned. The case studies help bring it all together with advice and experience from three seasons professionals.
If you want to become a mrotgage broker, this is the only book you'll need to guide you through the process. Every profession should have such a thorough guidebook available.
Great Book April 7, 2009
Jessica Arias Cooper
With the housing market declining and the banking industry in turmoil, I was doubtful that a book could make me believe that I could make a successful living as a mortgage broker. Patricia Hughes' The Complete Guide to Becoming a Successful Mortgage Broker was able to take an advanced subject and condense it in a way to not only make it understandable, but also convince me of the profession's continued need and success. She goes step-by-step through the process of becoming a successful mortgage broker from details on education to sales tips. The book also details the possible pitfalls that many people can fall into and how to avoid them. She addresses the sluggish market and to prepare for the eventual upturn.
I have never been well versed on the ins and outs of the mortgage industry. But after reading her book, I am convinced that with the proper planning and education, I have what it takes to traverse the peaks and valleys of the market on my way to success.
The Complete Guide to Becoming a Mortgage Broker July 12, 2009
Dan Thompson
Would-be mortgage brokers take head: read Patricia Hughes's book, "The Complete Guide to Becoming a Mortgage Broker." In addition to having plenty of specific information about the profession, this book is crammed full of advice that business people in any field at any level ought to hear. Just don't expect to have much fun reading it.
This guide presents a thorough overview of the mortgage broker's job, and does so in a well organized format. Most questions unanswered by the text (and there were few enough of those) were explained in the attached glossary. Nearly as helpful as the glossary were the many references to outside sources embedded in the text. Between these and the abundant knowledge that the author clearly possesses, this book comes close to being the complete guide that it claims to be.
On the down side, the writing was mediocre, and getting all this know how out of the text was a real chore. This book reads like an instruction manual at times-informative, but dull. Of course, this is only a minor drawback. A bigger problem was the tendency for the writing to be confusing, unspecific, redundant, or all three. This was both an annoyance and a hindrance in absorbing the wealth of information that the author was trying to get across.
That being said, "The Complete Guide to Becoming a Mortgage Broker" is definitely worth a read for anyone interested in the profession. The writing was a fairly small drawback, and the good knowledge contained in it is worth a bit of effort to get. This knowledge earns the book four out of five stars.
Showing reviews 1-5 of 6
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