Are you looking for a job in the mortgage industry? You’re probably curious about where the good jobs are these days. Isn’t everyone?
The good news is that there are plenty of, well, good jobs in the mortgage industry. The bad news is that there are a lot of applicants for these jobs. But if you can commit to polishing your professional profile and working just a little bit harder than the guy or girl next to you, that shouldn’t be a problem.
Whether you’re fresh out of school and looking to get your feet wet in a mortgage-related profession or you’ve got years of industry experience under your belt, these six great mortgage industry jobs are right up your alley. Adjust for experience, seniority and desired work-life balance as needed!
- Credit Support Specialists / Associates
You’ve gotta start somewhere. The mortgage industry doesn’t really have any career-track jobs equivalent to say, supermarket checkout clerk or movie theater attendant. But an entry-level, in-the-trenches job is no less important to your professional prospects here than in any other business. As a credit support specialist or associate, you’ll gain high-touch customer service experience that’s sure to prove invaluable later in your career — whatever you choose to do next.
- Quality Control & Compliance Specialists / Associates
Quality control and compliance specialists ensure that their employers are following best practices, legal protocols and other standards for loan underwriting throughout the origination and servicing process. They’re absolutely critical to mortgage companies’ efforts to maintain strong balance sheets, which makes them pretty much indispensable in the grand scheme of things.
- Information Security Personnel
This is one of the few mortgage industry jobs that pretty much didn’t exist at the start of the century. As the mortgage origination and servicing processes become increasingly automated, information security is emerging as a top-of-mind concern for industry executives. After all, getting a mortgage isn’t exactly like buying a new pair of pants — applicants need to fork over a ton of sensitive personal information, and then hope that their originators know how to keep it safe. Information security personnel ensure that this information does remain safe and isn’t used for anything other than what’s clearly spelled out in the lender-borrower agreement.
- Client Services Personnel
Paradoxically, the drive to automate critical aspects of mortgage origination and servicing has actually raised clients’ expectations for attentive, high-touch service — both during the origination process and throughout the servicing lifespan. Client services work is another great entry-level position for aspiring mortgage professionals.
- Developers & Architects
The mortgage industry might be built on relationships, but those personal connections are ever more likely to happen in cyberspace. If you’ve got developer chops, you’re apt to find plenty of jobs that suit your skills (not to mention paychecks competitive with the flashiest IT employers around). And, if you’ve proven yourself in previous IT roles, you could find yourself competing for even juicier jobs — architect roles that offer six-figure starting salaries, great benefits and the chance to make a real difference in the lives of thousands of borrowers.
- Trainer / Educator
The mortgage industry has always been a people-first profession. Regardless of external economic conditions, mortgage companies hire tens of thousands of new employees each year — whether to add to their total headcounts or replace outgoing workers. All these new employees need to be onboarded, trained and set up for success.
Larger employers accomplish this daunting task by hiring dedicated trainers (sometimes called “educators”) to get new hires up to speed before they’re pushed through the final onboarding phases or given their entrance exams.
Some mortgage trainers and educators don’t work directly for mortgage companies. Instead, they work with test prep companies, employment agencies and other entities that prepare mortgage job candidates for work in the industry or provide professional advancement services. Working for a company like this is a great way to gain exposure to the mortgage industry without actually hooking up with a mortgage company.
They Ain’t Making It Anymore…
You’ve heard the old saying: “Buy land. They ain’t making it anymore.”
That’s probably sound advice. But it also hints at an important, often overlooked truth about the real estate business: No matter what happens day to day, week to week, and quarter to quarter, real estate is fundamental to the economy. We all need places to work, shop, play and live, after all. While it’s easy to get caught up in an ever shorter news cycle, or to worry about the seemingly intractable changes affecting the mortgage industry, it’s always better to take the long view on these matters. If you plan to look for a new mortgage industry job in the near future, chances are good you’ll find something to your liking.
Are you in the market for a mortgage industry job? What’s on your radar this year?