|
The Scoop from a Loan Officer
- From Lauren M
Since starting with The
Mortgage Exchange, I have gotten married, and we were
able to save up enough to buy a home. I'm slowly
starting to build our portfolio by getting into the
stock market (conservatively!) My husband is a
self employed musician, and is not at all involved in
the world of finances. I was able to construct our
mortgage to what we wanted and be in charge of every
process. That in itself was very rewarding for me,
because just a few short years ago, I didn't even know
what an escrow account was!
The Mortgage Exchange has
grown too. We now have 60 Loan Officers, a
full telemarketing staff, 10 processors, and a strong
management department (that includes myself).
Every Loan Officer is fully trained by me to write any
type of loan available, including conventional,
non-conventional, home equity and second
mortgages, and FHA. We are the second largest
broker in Chicagoland, and are in the top 20 for the
nation. It's very exciting to look back and see
how small the company was when I started.
We've had growing pains, but the people who stayed
through it all are that much better for it.
My husband's and my goal is
to have enough expendable income to buy investment
properties. Many of my clients are in the top 5%
income earners in Chicago. One thing I have
learned from the most successful of them is that you
have to have multiple forms of income. It's a
very simple philosophy, but unless you work towards
it, and are ready to work hard for it, money won't
fall in your lap. I've come to refer to this as
"passive income". Properties that
are either rented out or fixed up and sold at a
profit, and the stock market are the investment
vehicles that are elevating people to levels they
never dreamed of. It's a very exciting concept,
and I'm learning everything that I can about both
of these.
So this is my story.
I hardly feel that it's a success story, it's just
life! But I'm really looking forward
to seeing what the future holds.
We look forward to hearing more from you, our readers...Plain Finances is your
financial community!
|