Did I make a bad choice

[Aaron Davies]

Hello out there,

My name is Aaron and I am a new LO in southern CA. I have zero prior experience in mortgage or real estate. Through a coaching group I joined I was introduced to someone who is a branch manager in Texas. This person said they would be willing to take on a newbie and help me learn along the way. I was very appreciative as I had been having a difficult time finding a spot to fit my situation. This company does not have any branch offices in CA. Because of this and CA compliance laws for me to originate with this company I would have to be within 50 miles of a branch location. The person who was willing to bring me on offered to set me up in an office space with the assumption that if I could close a loan at least every other month that would cover the space. In my naivety I thought this could be a good idea. This person brought me on with the company and flew out to CA and helped me set up my office. I pretty much got all the computer equipment with a bunch of different programs that I had no idea how to use and was told good luck. Since I feel there is a large disconnect between me and this person in what my actual knowledge level is in mortgage. I still am waiting for my branch license to come through and I am being told to contact my friends and family and realtors to solicit business but not use the company’s name because my license is not valid yet. I am being told to be careful with what I actually discuss because of the same issues. I have no website or social media linking me to an actual company. I can’t even make a business card yet. I feel like there is no way I can even begin to learn and function in this situation. Am I wrong? Does this seem normal? Please any help is appreciated. Thanks!

[Dustin Owen]

You are not wrong to be feeling how you feel. I believe you need a local manager, a local branch and local support to get the lift needed to launch your MLO career. In this market, you will be forced to get out there and network like crazy. The opportunity you desire will not be posted on a company web-site or career web-site. You need to attend industry functions, cold call local mortgage branches, network within your network, reach out to the local real estate experts etc. in order to find the opportunity you seek. Look at companies like CrossCountry, NEO, Guild, Fairway, CMG, Movement, Cardinal, New American, Churchhill etc. Best of luck!

[D]

Hi Aaron, if you’re local or able to commute to San Diego I could probably get you started at the company I work at.

Training is pretty good, lots of support so you can focus on sales, you’ll have a chance to ramp up and leads are provided. I started here with no experience and am now confident I can add value to my local RE community.

Dan

[Author]

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