What did you want to be when you grew up?

I recently posted this question on Facebook.  I was stunned by some of the occupations that were listed.  Then it hit me—being in the mortgage business is a truly a combination of many different ones, all rolled into one!  Whether you realize it or not, a loan originator has to be multi-talented—so pat yourself on the back and read on.

You are a:

Teacher – You “teach” real estate agents and clients with every single meeting, every phone call, every social media post.

Judge – You make the decision as to whether or not they qualify for the loan, if they need to be on “probation” (i.e., increase credit scores, save money, payoff bills, etc.) or “go to jail” because they will never qualify for a mortgage.

Attorney – You have to interpret divorce decrees, bankruptcy papers, title exceptions.  You have to explain mortgage disclosures and documents.  You have to know your state’s lending laws.  Oh, and don’t forget the mortgage rules and regulations.

Financial Advisor – This is where you take the 10,000-foot view of the 1003 and help your clients decide what bills to pay off or consolidate, how much money to withdraw for a down payment and closing costs, what assets they need to sell to qualify.

Marketing Expert – You have to figure out what works best for you.  Social media. Blogs.  Referral marketing.  Real estate agent referrals.  Then you’ve got to figure out if you are going to specialize in a certain niche. Bottom line:  You’ve got to get the word out about how great you are—or you’ll go broke.

Therapist – Oh the stories that you hear—bad divorces, illnesses, job losses, run-in’s with the law—and I’m sure you’ve heard some stories that you make want to poke your eardrums out!

Negotiation Expert – Not only are you negotiating rates, points and closing costs, you are also negotiating with processors and underwriters, and oftentimes you become the “go-between” for the seller and the buyer because the real estate agent has left the party (only to show up to collect their commission).

So, what other occupations/skills do you believe are necessary to be a successful loan originator?