Posted by Cheryl Anderson on 7/31/07 9:38pm
Msg #203125

Loan Officer Training

My interest was sparked after talking with a gentleman today about training to become a loan officer. This particular gentleman trains people in the loan industry and guarantees them work in his own office and/or helps them to find work in the area. His fee for the 4 week training program is $245.00. I "MAY" be interested, due to the fact that I would definitely become familiar with many types of loan docs, perhaps get my foot in the door for signings, and at the same benefit learning a new branch of the field. I find the fee descent compared to the expenses put out for my notary/ loan signing expenditures. Perhaps I am just out of my ever-lovin' mind to even consider this...I am looking forward to hearing any opinions that may enlighten my ability to manage this decision better. Thanks in advance!

Reply by Margaret_FL on 7/31/07 9:45pm
Msg #203128

I met with one company that wanted to charge me $200 for training. I was considering paying the $200 when I contacted another company and they offered to train me for free. So you might what to check out other loan companies.

Reply by Cheryl Anderson on 8/1/07 12:30am
Msg #203143

Thank you very much, Margaret...I will definitely check that out!

-Cheryl

Reply by ML/PA on 8/1/07 7:45am
Msg #203159

I definately agree with Margaret. Call any of the companies you may be interested in and if they think you have potential they will give you all the training you need for FREE. In the past I worked as a LO for several major lenders and a few brokers and they all had their own training. Never a fee.