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Licensed Oregon Mortgage Brokers

In January of 2007, there were more than 13,000 licensed mortgage loan originators in Oregon. As of the Independence Day holiday, that number was down to 6,985 with less than half of them living in Oregon. It appears that the wheat is being separated from the chaff.

I have been working in the mortgage industry before there was a license requirement. I supported the licensing requirement for mortgage originators, expecting it to make our industry more responsive and responsible. In some ways it has, but nothing the way a downturn in the market has.

If you have lost your loan officer, I would like to offer my services. I am located in Eugene, but am able to handle your business in Oregon, California (soon Washington) and Alaska. Call me at 866-916-7596 or on my cell at 541-221-3455, anytime.

I am in this business for the long run. I can do almost any type of loan, but am a specialist in government loans. I teach classes in FHA lending practices and programs. I am a vereran and have always been a champion for my comrades-in-arms. Considering I flew a typewriter in the Vietnam War, arms may be an exaggeration. LOL

Posted by Fred Chamberlin - Eugene/Springfield's #1 Experienced FHA Mortgage Consultant on 07/08/2008 12:11 PM

Comments (10)

Mortgage Brokers in the Mortgage / Finance Channel

market rates, mortgage rates, refinance, purchase, real estate, inflation, fed policy, finance, payments, fha, usda, rural program, eugene, springfied

Originally posted at: Fred's Mortgage Blog: Licensed Oregon Mortgage Brokers

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10 Comments on Licensed Oregon Mortgage Brokers

JUL

2008

Florida had about the same results, losing 40% of licensed mortgage brokers. I hope it was the less professional, cut and run, quick hit types. I, like you am in it for the long run and have picked up quite a few Realtors. All the best! Randall 863-229-1235

Fred,

Many small and large Nevada mortgage offices have closed or at least severely down-sized during this real estate slide, like everywhere else I suspect. And the licensing requirements here have further tightened, so in the future entry will be harder.

Fred, Nice post. I too have been in it since before licensing took force. I love the fact that they are making licensing more stringent. Keeps the bad seeds out of the business, and leaves more business for the good seeds.. Where did you get your stats on agents in Oregon, just curious?

Tom

Fred, I am glad the there has been a decline and I hope it is the lenders that needed to find another line of work. The lenders that truly "know their stuff" are worth their weight in gold and I hope they will be around for many years. I heard today there has been a 30% decrease in agents from our company so it must be an "across the board" phenom.

Randall - I am sure we are looking at something across the nation. Again, it isn't all bad. When things are easy (as they were) you get a lot of opportunistic people joining in. I won't miss a lot of them.

Esko - We needed the contraction in the market to clear out the deadwood. I have been doing this for over 20 years and have been through it before.

Thomas - Those with integrity and knowledge will survive and prosper.

Leslie - I am not sure it is over, but when it is, the pie may be smaller, but there will be a lot less people sticking their fork in it. I hope you find that I am one that is worth my weight in gold....because, I weigh a bunch. lol

Thanks all, for your comments.

FEB

Fred, I read a comment where someone stated that

"God saw fit for you to continue in the mortgage business because he knows you would not survive in any other endeavor."

I have to say to the coward that left that particular comment that GOD had nothing to do in me personally becoming a mortgage guy. But I am sure that the same GOD that you speak of did state that you should not judge your fellow man lest you be judge yourself.

Now, I know that others are not going to know what this is about, but if you chose to leave this comment, let me say this. Categorizing or lumping people in as a whole because of their profession is the worst type of judgment that I can think of.

Danny, just so people know what comment your are referring to, I will go ahead and post it. I deleted it because this person was just spouting off for no apparent good reason. I have no idea who he is or why he seems to be angry with me or with mortgage brokers, but here is his comment:

Why is it people become pompaus just because their fortune seems intack? I submit to you that God saw fit for you to continue in the mortgage business because he knows you would not survive in any other endeavor. The mortgage business is one of the simplest businesses there is. Especially for the pay. Did not Jesus say to Potamus, you would not have authority over me if it were not given to you by my father who is in heaven? Better jump off your high horse and Beg for mercy, less God makes you prove your character.

Signed,

Sick of your type

As you can see, this comment doesn't make a lot of sense, especially since it is mostly anonymous. I also don't see where I was being pompaus (sic) or pompous for that matter.

Thanks Danny for your comment.

Fred, what eats me the most is that the only pompaus is tha ass that left this. I frankly do not see anywhere in your post that it states that your fortune seems intack. Personally, I am wondering if this is coming from someone that could not cut it in the mortgage business of if GOD decided that he/she did not need to be in the mortgage business any longer.

FEB

Danny - You could be right.

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