For any student trying to find a career choice if can be very confusing. There are so many to choose from and for those that need to choose subjects towards the end of their school career some hard decisions need to be made. One career path could be the mortgage banking careers California has. Working in a bank is something many dream of as one is able to advance in this field.
In this line of work one will be dealing with people on a daily basis as they help people to apply for loans in order to buy commercial properties or homes. Some will even help the person applying to sort out which loan would best suit their purpose and will lend a hand in filling out the many different forms. Others still will be the ones to evaluate the application as to determine if that person will be a good lending risk.
The credit determines how well the borrower has managed any debt and is usually done by a credit score. The main purpose is to see if there is any risk on the lenders behalf and it will also help to determine what interest rate will be set as well as the credit limit. This form of scoring is not only done by banks and credit companies but by landlords, insurance companies and mobile phone companies to name only three.
Many of these programs take place over no less than eighteen months and generally begin in late August. There is normally a four month summer break in between and many students have some prior work experience. These classes normally require at least six hundred hours of graduate work or sixty credits.
An income analysis is also done on the borrower and this is to determine if the income is stable as well as to ascertain what their current assets and debt is. Those that are paid hourly wages tend to be in the lowest risk bracket and those that are self employed are the highest. For those that are self employed they are generally asked to produce proof of income for the last two years.
The average annual salary is about fifty one thousand dollars but this could differ depending on the different job titles. A mortgage loan underwriter will average about fifty three thousand dollars a year whereas a loan officer will only clear about forty thousand per annum. A mortgage originator about thirty eight thousand and a loan processor or a senior loan processor can clear anything from thirty five thousand to forty two thousand a year. If one decides to become a banking or finance analyst the salary could be about forty six thousand per annum.
The salary however does get taken into account of where the business is located. The highest state to pay for this position is Virginia and the next one is California followed by Florida and Illinois. This is according to a survey done in 2011 by PayScale.
PayScale is an online compensation, salary and benefits company. They have been in business since January of 2002. A former Microsoft manager Joe Giordano and John Gaffney founded this company and in 2014 Warburg Pincus invested about one million dollars. With the amount of information that is received they are able to give accurate real time salary information to those that are interested.
In this line of work one will be dealing with people on a daily basis as they help people to apply for loans in order to buy commercial properties or homes. Some will even help the person applying to sort out which loan would best suit their purpose and will lend a hand in filling out the many different forms. Others still will be the ones to evaluate the application as to determine if that person will be a good lending risk.
The credit determines how well the borrower has managed any debt and is usually done by a credit score. The main purpose is to see if there is any risk on the lenders behalf and it will also help to determine what interest rate will be set as well as the credit limit. This form of scoring is not only done by banks and credit companies but by landlords, insurance companies and mobile phone companies to name only three.
Many of these programs take place over no less than eighteen months and generally begin in late August. There is normally a four month summer break in between and many students have some prior work experience. These classes normally require at least six hundred hours of graduate work or sixty credits.
An income analysis is also done on the borrower and this is to determine if the income is stable as well as to ascertain what their current assets and debt is. Those that are paid hourly wages tend to be in the lowest risk bracket and those that are self employed are the highest. For those that are self employed they are generally asked to produce proof of income for the last two years.
The average annual salary is about fifty one thousand dollars but this could differ depending on the different job titles. A mortgage loan underwriter will average about fifty three thousand dollars a year whereas a loan officer will only clear about forty thousand per annum. A mortgage originator about thirty eight thousand and a loan processor or a senior loan processor can clear anything from thirty five thousand to forty two thousand a year. If one decides to become a banking or finance analyst the salary could be about forty six thousand per annum.
The salary however does get taken into account of where the business is located. The highest state to pay for this position is Virginia and the next one is California followed by Florida and Illinois. This is according to a survey done in 2011 by PayScale.
PayScale is an online compensation, salary and benefits company. They have been in business since January of 2002. A former Microsoft manager Joe Giordano and John Gaffney founded this company and in 2014 Warburg Pincus invested about one million dollars. With the amount of information that is received they are able to give accurate real time salary information to those that are interested.
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