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rpatrick
458 Posts |
 Posted - 04/18/2009 : 1:47:57 PM
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First time doing loans away from an office. If anyone has any suggestions, as far as:
home office requirements for doing loans
organization tips
marketing tips
time management tips
I plan on working my normal 40 hr job and originating a few loans a month. While you may hate this idea, I'm not going back to commission only right away. |
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johnnyboy38109
4341 Posts |
Posted - 04/19/2009 : 06:55:02 AM
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| So what is is you're asking? Too broad to understand what you want. |
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rainmand
5183 Posts |
Posted - 04/19/2009 : 07:51:04 AM
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| When I think of doing a regular 40 hour job and combining it with part-time mortgage origination, I think of the days when the Lender is rushing the final docs to Title and I'm reviewing them and finding problems and then the Lender has to make the correction and rush them through the system again, and the signing is happening in 3 hours, and then I found out there's a tax lien they've just found out about and I've got to call the homeowner immediately and review it with them ... and they're stressed and frustrated because the Notary told them she hasn't received the documents yet ... there's no way I could handle those scenarios and still do my 40 hour job properly. I wonder how others are able to do it. |
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johnnyboy38109
4341 Posts |
Posted - 04/19/2009 : 08:25:41 AM
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quote:
Originally posted by rainmand
When I think of doing a regular 40 hour job and combining it with part-time mortgage origination, I think of the days when the Lender is rushing the final docs to Title and I'm reviewing them and finding problems and then the Lender has to make the correction and rush them through the system again, and the signing is happening in 3 hours, and then I found out there's a tax lien they've just found out about and I've got to call the homeowner immediately and review it with them ... and they're stressed and frustrated because the Notary told them she hasn't received the documents yet ... there's no way I could handle those scenarios and still do my 40 hour job properly. I wonder how others are able to do it.
They aren't.
The full-time folks don't do very well with it, either. |
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Rampart
1269 Posts |
Posted - 05/10/2009 : 06:13:11 AM
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quote:
Originally posted by johnnyboy38109
quote:
Originally posted by rainmand
When I think of doing a regular 40 hour job and combining it with part-time mortgage origination, I think of the days when the Lender is rushing the final docs to Title and I'm reviewing them and finding problems and then the Lender has to make the correction and rush them through the system again, and the signing is happening in 3 hours, and then I found out there's a tax lien they've just found out about and I've got to call the homeowner immediately and review it with them ... and they're stressed and frustrated because the Notary told them she hasn't received the documents yet ... there's no way I could handle those scenarios and still do my 40 hour job properly. I wonder how others are able to do it.
Amen
They aren't.
The full-time folks don't do very well with it, either.
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scottymac35
15 Posts |
Posted - 05/15/2009 : 12:14:42 PM
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I owned my own internet biz for the past 8 years, and sold it to hop into the mortgage biz... all I can say from a work-at-home perspective is- treat it as you were working at a professional office. Don't let the kids come barging in, turn the TV off- basically eliminate distractions to work efficiently. If you say you're going to work 4 hours per night, make it a solid 4. You may even find you're getting more done there than at an office, as we all know offices have many distractions too.
It is a GREAT bonus to be able to work at home- but only if you make it happen the right way. good luck-
SM |
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ldestefano
170 Posts |
Posted - 05/15/2009 : 7:27:00 PM
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I actually work from home and from the office too. However, I don't have another job. If you have a schedule in place and can stick to it you will be just fine. Sometimes I get more done at home. I have all the capabilities to work from home. If you use Encompass it can be easily installed on a laptop or home computer. You need a fax line or efax which I have and I love because when borrowers fax me docs it goes right to my email which makes it simple to forward to processing and underwriting. Get a decent printer if you are going to print your own disclosures.
quote:
Originally posted by scottymac35
I owned my own internet biz for the past 8 years, and sold it to hop into the mortgage biz... all I can say from a work-at-home perspective is- treat it as you were working at a professional office. Don't let the kids come barging in, turn the TV off- basically eliminate distractions to work efficiently. If you say you're going to work 4 hours per night, make it a solid 4. You may even find you're getting more done there than at an office, as we all know offices have many distractions too.
It is a GREAT bonus to be able to work at home- but only if you make it happen the right way. good luck-
SM
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wlavigne
563 Posts |
Posted - 06/21/2009 : 06:41:18 AM
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| its becoming increasingly hard to work from home in the mortgage industry, especially for those banks that have additional requirements for privacy, security and employee control and monitoring requirements. Many banks that I know have are increasing minimum home office requirements and even forcing those that work from home to pay for routine inspections to ensure that the office is meeting requirements that are set forth in its policies for hired parties and third party providers which include contractors and mortgage brokers and its employees or contractors. |
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charlesdailey
11 Posts |
Posted - 07/03/2009 : 4:11:55 PM
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I recommend getting a basic laptop (for mobile computing), a high powered desktop with redundant hard drives (for working at home), either remote backup (preferrable) or an external hard drive for backups, an excellent web cam and a 32GB portable flash drive (encrypted and password protected) where you can keep your "My Documents" folder. That's your hardware.
For software, I recommend the following:
*MS Office with Datamotion Secure E-Mail plugin
*Adobe Acrobat Connect (this is a must as this will be how you meet most of your clients)
*Adobe Acrobat Pro (reader isn't good enough)
*Subscription to yousendit.com
*MGIC's Evaluating the SE Borrower software
*AllWay Sync for syncronizing your My Documents folder with your flash drive for use on laptop when going mobile
*strong and up to date anti-virus, firewall and spyware software
*digital fax solution either through corporate server or something like EFax
*website with secure online application
*a very good and secure LOS (I would recommend Encompass with EDM and CenterWise for both security and funcionality)
*strong and up to date firewall, anti-virus and anti-spyware software
*good scanner & laser printer
This may seem excessive but wlavigne is right, it's getting harder to work from home in this industry and still stay in compliance. |
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genealle
1297 Posts |
Posted - 07/04/2009 : 08:16:10 AM
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quote:
Originally posted by rpatrick
First time doing loans away from an office. If anyone has any suggestions, as far as:
home office requirements for doing loans
organization tips
marketing tips
time management tips
I plan on working my normal 40 hr job and originating a few loans a month. While you may hate this idea, I'm not going back to commission only right away.
Rule #1 through 10..Don't watch the phone and wait for it to ring.
MAKE IT RING!
Everything else is relatively unimportant. |
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