Author: Mortgage News - Mortgage Jobs
Loan Officers Are Shifting Careers Due To Market
Many US based loan officers have shifted careers recently and so have companies that service the mortgage industry. The thriving and booming mortgage industry has suffered a major blow over the past year or so, causing many loan officers to flee the business.
After contacting over 1000 mortgage brokers and loan officers, our study has found out of 1000, only 300 are still in the business or at least said the were. This small survey shows that about 70% of loan officers have left the business and gone elsewhere. Where did they all go?
A new trend of credit repair companies have popped up everywhere on the Internet, making a new home for loan officers. There has also been a boom in companies who provide credit repair leads instead of or in conjunction with mortgage leads. For example icreditleads.com started selling credit repair leads because they say that mortgage lead sales are down by more than 50%.
This shifting change in the mortgage industry has put many people out of business. Over 200 major mortgage companies and thousands if branches have closed their doors in the past 12-17 months, along with many companies that served the mortgage industry like MortgageLeads.com.
With new opportunities popping up daily loan officers are finding there way in to new businesses.
Top New Businesses Loan Officers Usually Jump To:
Car Sales
Insurance Agents / Sales
Home Appraisal
Credit Repair
Real Estate Agent
Merchant account advance loans
MLM and Network Marketing
Advertising Sales
Home Based Businesses
"Flipping" Houses
(List is in random order)
As you can see loan officers have many opportunities in the aftermath of the mortgage crises.
Credit Repair Leads
Mortgage Leads
Loan Modification Leads
Debt Leads
Print this page