I started in the mortgage industry in June 2003 working for a CPA who also happened to do loans. I was a processor and knew absolutely nothing about mortgages or who Fannie was or what an ARM loan was and how it worked. My very first day my boss came in and told me to put the files in the office in state compliance format. There was 300 files and I didnt have a clue. He handed me a sheet of paper that had the stacking order for the file. You know the usual... HUD Settlement Statement, 1008, 1003, etc. The HUD settlement statement was easy to find. 1008 on the other hand was impossible. I looked at every sheet of paper over and over and couldnt figure it out. I was convinced that a 1008 didnt exist. But it did... in the bottom right hand corner in very small letters that make it look like it should be a disclaimer for a car commercial after you hear no money down and bad credit allowed with 0% financing. I had finally found the 1008. Finding the 1003 was the same story. I had spent my first 8 hours in the mortgage industry trying to find only 3 documents for a loan file and will never forget that day.
Please comment below or write your blog on your first day in the industry. It can be from anything from mortgage to real estate to insurance. I am sure there are some good ones out there.
Comments(9)