If you're willing to work hard and have a way with people, originating mortgage loans can make you rich. But it can be a boom-and-bust business and restrictions are getting tougher, jobs seem more scarce than ever and the field has taken its share of the blame for the housing mess.
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Whether you're thinking of making a comeback, or just want to try out a mortgage career for the first time, check out the FINS Special Report on Mortgage Careers in 2010 to find out where the jobs are, what it takes to get them, and what's going on in the rapidly changing landscape of the mortgage sector.
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Thousands of mortgage brokers were flushed out of the business in recent years as the housing market cratered. The National Association of Mortgage Brokers saw membership shrink to 8,500 in 2010 from about 23,000 at its 2006-2007 peak. Todd Huettner launched his mortgage-broker business in 2007, during the worst of the fallout -- and he survived to tell the tale.
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In the wake of hiring almost 30,000 mortgage restructuring specialists to avoid a wave of home foreclosures, the big mortgage lenders have a new urgent hiring need: loan underwriters.
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Banks are scouring the country for qualified mortgage loan underwriters -- and having trouble finding them. So, what does it take to make it in the field? And how much does an underwriter get paid for their troubles?
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Sue Compton is used to processing mortgage loans, helping to build the American dream for aspiring homeowners. This week, she got to fulfill her own American dream when she won the Pillsbury Bake-Off contest.
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The mortgage industry is undergoing a hiring surge. That means a lot of jobs and a lot of resumes for recruiters to look at. Here are some tips on how to get your resume to the top of the pile.
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If you wanted to purchase a home with a mortgage in 2006, all you needed to do was sign on the dotted line; and, if you couldn't manage that, an "X" would have sufficed. Today, the situation is different.
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Frantic hiring of mortgage negotiators has helped U.S. lenders sidestep a wave of home foreclosures, but the process of drawing up new loan agreements is taking more time and effort than expected.
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The sale of mortgage-backed securities has bounced back to pre-crisis levels and finance shops are staffing up to grab a bigger piece of the much-maligned market.
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