Welcome to a Career in the Mortgage Industry

If you’ve been searching for an exciting career that also offers excellent earnings opportunities, then you should consider a career within the mortgage industry.

Whether you're a college graduate and are looking for your first job in the mortgage industry, or you’re ready to take the next step towards advancing your current career, FinanceJobs.co.nz gives you access to mortgage and finance positions that are most suited to you.

Career Advantages – Mortgage Brokers

If you enjoy helping people and are capable of striking up long term relationships, then this is a career you should seriously consider.  Whether it is the first-time home buyer or the family that is looking to upgrade their lifestyle, you’ll have the pleasure of knowing that you were an integral part in the excitement and joy they experience when the purchase is finalized.  Ensuring that the borrower and the lender are satisfied with the mortgage transaction is the key.

The two biggest advantages to a career in the mortgage industry can be:

• Flexibility and freedom:  This is a career that will afford you a certain amount of independence as well as you have the capability of selecting your own work environment. If work life balance is important working as mortgage broker may be an ideal position.

• High Income: Your earnings directly reflect the efforts you put into the career of mortgage broking, the earnings potentials are excellent.  When you consider the fact that this can be a high commissioned job, you could say that the sky is the limit where earnings are concerned. 

Whether the economy is booming or sluggish, it doesn’t matter since homeowners opt for saving money on their mortgages by refinancing wherever possible and the trend of short term mortgage review is continuing.

There is a certain amount of prestige that comes with a position in the mortgage industry regardless of whether you are handling a home mortgage for $200,000 or negotiating multi-million dollar commercial transactions.  If you are financially savvy individual, a career as a mortgage broker could be an outstanding opportunity for you.

Like some careers longeivty pays dividends and the most succesful mortgage brokers and agents are those with strong personal and professional networks which can take several years to build. Once a solid network of customers are in place  though Sales can be relatively eay to obtain through repeat and refferals. Seen as a trusted advisor your customers will return to you when thier mortgage options become renewable.

The New Zealand mortgage industry continues to grow at a steady pace overall, however it has been affected by the global credit crunch, predictions are that more home-owners will look at renovations and home improvements in 2008/9  adn refinance thier mortages rather than buying new houses. 

Educational Requirements

The education required will vary depending on the position you are seeking within the industry.  There is a wide array of colleges and universities, or online that are targeted towards careers in the mortgage industry.  There are also professional requirements as well, such as licensing criteria.  So it is wise to put in a due diligence and familiarize yourself with what is required in the area that you live in.

You will find that there is a wide array of courses that you can take whether you enroll in a college or university offline, or you attain your degree through one of the many fine online educational venues. A number of institutions offer specialty courses that specifically target the finance and real estate industry so there is a variety of curriculum to choose from when getting your education.

Career Positions

You have a certain amount of freedom with your schedule that other careers do not offer by being able to move laterally within the industry. 

So if the buzz of a sales career isn’t what you thought it would be you could find a position in the operations end of the industry or possibly divert in real estate.

There is a variety of career positions and titles within the mortgage industry. 

We’ve listed several of the more popular jobs here in order to give you an idea and some direction for beginning or furthering your career in the mortgage industry: 

Mortgage Manager – assists in and initiates the mortgage transaction process between the lender and the purchaser.  Typically, the loan originator is contacted by the mortgage broker on the borrower/purchaser’s behalf.

Mortgage Broker – the chief responsibility of the mortgage broker is to ensure that both parties in the transaction (i.e. borrower/purchaser and lender) are satisfied with the final state of affairs.  It is the broker’s primary responsibility to match the borrower with the right lender, and then assist throughout the process. Normally this is a consultative sales role.

Mortgage Processor – responsible for collecting all pertinent documents and verifications required to support the borrower’s information entered on the loan application.  Obtaining any and all documentation pursuant to the mortgage process is the chief function of a mortgage processor, as well as following a specified series of steps that ensures all information on the loan application to be accurate.

Mortgage Underwriter – your job as a mortgage underwriter is to see that a mortgage application gets approved based on the verified financial information that the borrower has provided on the application, such as the borrower’s credit history and their scores.

If you feel that you are ready to begin your search, please take a few moments to review job vacancies from leading employers and recruitment agencies in our main job-board section.

Would you like a job as a mortgage broker, read our mortgages section.

Find out about Mortgage lending, it could be the career for you.

Interest rates and how they effect you, if yo're going on interview for jobs that relate to interest and finance read this first.