How to Become a Mortgage Broker

Video Transcript

"Hi how to become a mortgage broker that's going to be the discussion of today's topic. My name is Adriel Torres and I'm the owner of Ultimate Credit Today.Com. A mortgage broker is a person who basically brokers a loan between a lender and a borrower and your right in the middle sort of the middleman. You go to a lender and obtain a mortgage for your borrower you get paid a commission. To become a mortgage broker depends on who you're going to work for. If you're going to work for a bank you don't need any licensing. If you're going to work for a mortgage broker business then you do have to have your license. In either case you have to have some experience to become a mortgage broker because there are a thousand different types of loans and properties and different borrowers and you're dealing with credit, you're dealing with rates, you're dealing with banks. So to become a mortgage broker in some states you have a license if you're working for a bank. Most states you do not have to have it. So please check with your state and then decide which way to go. That's how to become a mortgage broker. Thank you very much. My name is Adriel Torres and I'm the owner of Ultimate Credit Today.Com. Thank you."