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Mortgage Professor about loan officer commission: 
What Is a Mortgage "Overage?"
June 23, 2003 "I eavesdropped on my loan officer and heard him say that he was on his way to a ?nice overage?. What is an overage?" It is money extracted from your pocket by the loan officer. In the high-stakes poker game that is the home mortgage market, you ... more...

What Is a Sub-Prime Mortgage Lender?
22 March 2004 "I hear terrible things about sub-prime lenders. What are they, and how can I avoid them?" A sub-prime lender is one who lends to borrowers who do not qualify for loans from mainstream lenders. Some are independent, but increasingly they are affiliates ... more...

loan officer commission related definitions

Bridge Loan
Bridge Loan A bridge loan is a short-term loan, usually a second mortgage, run for 6 month but may be taken taken out for a period of 2 weeks to 3 years. The borrower's current home (which is usually "for sale") is ... more...

VA Loan
VA Loan A VA loan is a mortgage loan in the United States guaranteed by the US Veterans Administration. The loan may be issued by qualified lenders. Available only to veterans possessing a Certificate of Eligibility. Purchasing a home with a VA Loan is not as difficult as ... more...

More about loan officer commission

Get Free loan officer commission Quotes and Estimates

Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

Mortgage Banking: Is It for You?
Are you quick with calculations and always ready to help people? If youre good with numbers and have great organizational skills, a career in mortgage banking may be a great idea. Most people who work in the mortgage banking field are residential or commercial loan officers.A mortgage loan officer ... more...

Shopping for a Mortgage, Avoid Three Common Mistakes
Buying a home or refinancing one is perhaps the largest financial transaction you will ever make in your life, so you want to be sure to avoid any mistakes that may cost you in the long run.When you are deciding on a mortgage, you certainly dont want to make your decision by flipping a coin.You ... more...

Mortgage Brokers vs. Banks
When it comes to searching for the right kind of mortgage to meet your needs, you will probably come across a decision about who you should borrow from: Do mortgage brokers or banks make better lenders?A mortgage broker is a mediator that facilitates the process of acquiring a mortgage for ... more...

Eight Common Predatory Lending Schemes
Predatory lending is far more prevalent in refinancing than in the purchase market. One reason is that buyers tend to look for mortgages from established and recognized lenders, many of whom are bound by rules put forth by Fannie Mae, FHA, or the Veterans Administration. If they don't follow the ... more...

Mortgage Broker Marketing - Sell Problems, Not Solutions
Are your marketing messages to Realtors guilty of these promises?- To render great customer service - To close loans on time - To offer the best competitive rates - To help them make more money - To deliver referrals or free leads - To co-market services - To qualify all buyers through a diversity ... more...

Home Mortgage Loan Refinancing - Ready to Refi?
All right. Youve run the numbers a million times and determined that it is definitely the time to refinance, whether it is to simply lower your payments, reduce your terms or consolidate some credit card debt. Whats the next step? Sit back, relax and wait to close? NO!Make your life easier while ... more...

Looking for a Home Mortgage? Shop Around
The mortgage industry is a highly competitive one, so it wouldnt hurt you to shop around before you decide on which company and which program you would like to go with.There are two ways you can go about shopping around for a home mortgage lender.The first way would be to do the shopping yourself. ... more...

Home Sellers Warning for Young Families
If you're thinking about selling your home and moving up, do your homework before offering your home for sale. Read the following story to see what can happen to home sellers who don't do their math.A young family sold their home in California, before they determined how to buy their next house. ... more...

Probe Before You Sell
When selling a product to a customer, it is very important to find out as much as you can about your customer and their needs before you proceed with your sale.This is commonly referred to as needs based selling.The most effective way to find out about your customers needs, is to ask probing, ... more...

How To Choose The Best Mortgage
A mortgage is a financial investment which involves a large amount of money, and it is important for you to do your research before deciding which company you want to go with. While many mortgage professionals are honest, they are looking for a large commission in helping you obtain a loan, and ... more...

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