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Salary and Benefits

Mortgage Loan Originator
$90K-$111K / yr. (est.)
$91K
$101,111 / year
$111K
Average base salary
The salary information provided is based on data collected from various reliable sources and may vary depending on individual qualifications and other factors.

About Mortgage Loan Originator

What does a Mortgage Loan Originator do?

As Mortgage Loan Originators, we solicit first mortgage loans within market areas and inform prospective loan clients of FFC’s underwriting guidelines and applicable government regulations. We also complete each loan application and all pre-processing functions on time, allowing the application to be mailed within the required time frame. We coordinate with processing teams to ensure the ordering of appraisals, credit reports, appropriate background checks, and other information needed on residential loan applications. We scout for any new legislation and regulation that affects residential lending policies and products to ensure compliance with these new rules by implementing appropriate changes.

Core tasks:

  • personally interview all loan applicants, answer incoming telephone calls, and schedule appointments
  • maintain and submit business development reports within the required timeframe to supervisors
  • communicate complex approval and denials to borrows, real estate agents, and builders

Insights

How Many Years of Experience Do Professionals Need Before Becoming Mortgage Loan Originator?
On average, people work 7+ years in other positions prior to becoming a Mortgage Loan Originator.
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Loan ProcessorMiami, FL - 9 months ago
🙄I can see how working in a related role like Loan Processor can give you a better understanding of the industry-specific processes, but I still think it's possible to excel without prior work experience.
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Financial AdvisorSeattle, WA - 9 months ago
💰What's the point of spending years in other positions? As a Financial Advisor, I have the necessary knowledge and skills to navigate the mortgage industry. Time is money, after all!
How Long Do Mortgage Loan Originator Employees Typically Stay in Their Roles?
On average, Mortgage Loan Originators works in this position for 3-5 years across multiple employers.
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Loan ProcessorMiami, FL - 9 months ago
Hey, I'm a Loan Processor, and having experience with multiple employers can make Mortgage Loan Originators more adaptable in dealing with unique loan scenarios and underwriting requirements!
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AccountantDallas, TX - 9 months ago
💤 Just crunching numbers here, but focusing on longevity in one place may offer Mortgage Loan Originators more stability, allowing them to build stronger relationships and reputation with clients and industry professionals.
What Is the Job Hopper Score for Mortgage Loan Originator Employees?
Frequent job changes in Mortgage Loan Originator, indicating a willingness to change companies and roles more frequently.
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HR ManagerMiami, FL - 9 months ago
🤔 It's interesting to see how mortgage loan originators value flexibility in their career path. Perhaps it's a sign of adaptability and a willingness to learn and grow.
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Insurance Agency OwnerSan Francisco, CA - 9 months ago
😡 This job hopping culture among mortgage loan originators is frustrating! It's hard to establish strong relationships with someone who is constantly changing companies. Trust and consistency matter!

Career path

Path to job

Discover a Mortgage Loan Originator's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Mortgage Loan Originator typically studied at.
Arizona State University-Tempe
Florida State University

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Mortgage Loan Originator Employees?
Gender ratio in Mortgage Loan Originator position: 0.638984852511294 Male and 0.361015147488706 Female. Age ratio in Mortgage Loan Originator position: 16-20: 3%, 21-30: 43%, 31-40: 27%, 41-50: 17%, 51-60: 8%, 60+: 2%. Mortgage Loan Originator position is predominantly male (63.9%) with the largest age group being 21-30 years old, followed by 31-40 years old.
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Mortgage Loan OriginatorPhiladelphia, PA - 9 months ago
I wonder if the gender ratio affects the work environment and opportunities within the industry. 🧐
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Mortgage Loan OriginatorPhoenix, AZ - 9 months ago
It'd be interesting to know if there are any initiatives to increase diversity in this occupation. 🌈

Workplaces

Who Are the Top Employers for Mortgage Loan Originator?
Top employers of Mortgage Loan Originator position: Fairway Independent Mortgage, HomeBridge Financial Services, Movement Mortgage. People who work in Mortgage Loan Originator position most typically go on to work for the Fairway Independent Mortgage.
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Mortgage Loan OriginatorHouston, TX - 9 months ago
None of these employers can beat Fairway Independent Mortgage. They offer flexible work hours and have solid relationships with realtors.
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Mortgage Loan OriginatorMiami, FL - 9 months ago
You're all wrong! HomeBridge Financial Services is the ultimate employer. Their marketing support and loan product range are unmatched!
Fairway Independent Mortgage
HomeBridge Financial Services
Movement Mortgage
What Industries Does Mortgage Loan Originator Typically Have Experience In?
Industry Background: The most typical industries of Mortgage Loan Originator: Finance & Insurance, Real Estate / Rental / Leasing, Professional / Scientific / Technical, Construction, Administrative & Support. Mortgage Loan Originator employees most likely come from a Finance & Insurance industry background.
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Mortgage Loan OriginatorHouston, TX - 9 months ago
I beg to differ! Being a Mortgage Loan Originator requires staying updated with tons of regulations and ensuring financial stability for the clients. 💪
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Mortgage Loan OriginatorSan Francisco, CA - 9 months ago
Y'all need to stop arguing and realize that success in this job comes down to building strong relationships with clients and having a deep understanding of the market. 🌟

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Discussion about Mortgage Loan Originator

Want to know more about Mortgage Loan Originator position?
Share your thoughts and ideas about Mortgage Loan Originator position with others in our community.
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How is the gender diversity among people working as a Mortgage Loan Originator?
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Isabella Holmes3 years ago
Mostly men choose this job, but women also choose this.
What is the typical age to work as a Mortgage Loan Originator?
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Benjamin Gardner3 years ago
34 is the average age of people working as a Mortgage Loan Originator.
How much experience do you need to work as a Mortgage Loan Originator?
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Isabella Holmes3 years ago
You should work for 7 years on average to become a Mortgage Loan Originator.
Which industries should a Mortgage Loan Originator consider working in?
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Isabella Holmes3 years ago
Finance & Insurance is typical for a Mortgage Loan Originator to work in.
Is a degree needed to work as a Mortgage Loan Originator?
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Liam Brown3 years ago
As a Mortgage Loan Originator you’ll probably need No higher education
Which company are you working for as a Mortgage Loan Originator?
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Benjamin Gardner3 years ago
Fairway Independent Mortgage, HomeBridge Financial Services, Movement Mortgage, PrimeLending, A PlainsCapital Company and U.S. Bank employs the most people in the Mortgage Loan Originator role.
How many years do people work as a Mortgage Loan Originator before changing their role?
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Benjamin Gardner3 years ago
On average people change after 4 years.
Is it common for people to switch companies and still work as a Mortgage Loan Originator?
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Isabella Holmes3 years ago
We can say that a Mortgage Loan Originator is likely a job hopper role.
What work history do people usually have before becoming a Mortgage Loan Originator?
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Sophie Hayes3 years ago
Mortgage Loan Officer, Loan Officer or Branch Manager are the typical prior positions for a Mortgage Loan Originator
What are the typical next steps for someone working as a Mortgage Loan Originator?
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Benjamin Gardner3 years ago
Consider the following: Mortgage Loan Officer, Loan Officer or Branch Manager
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