Who is Shant Banosian?

Shant Banosian is Guaranteed Rate’s #1 Loan Officer 6 years running, and the #1 Loan Officer nationwide 3 years running, with 3,551 closed units and $1.7 billion in funded loans in 2020 alone. … Shant’s goal is to simplify the mortgage process for his customers and make the home loan process easy to navigate.

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Herein, do mortgage brokers get a base salary?

Mortgage Broker Salary

Brokers commonly work on a commission basis – earning some amount of every deal they close. Brokers commonly make between 1 and 2 percent of the mortgage as their pay – meaning every deal made is worth thousands (if not tens of thousands).

Similarly one may ask, how do I become a good mortgage broker?

Follow these 7 Mortgage Broker success tips:

1. Always do your homework and offer multiple loan options.
2. Make sure you respond to emails and phone calls in a timely manner.
3. Never skip over the details of loan products, fees or services.
4. Avoid rushing your clients.
5. Provide proof of your success.

How do I become a top performing loan officer?

Mapping Your Way to the Top

1. Become a loan officer.
2. Create your own team.
3. Open your own mortgage branch.
4. Move up to correspondent lender status.
5. Get your own mortgage lender license.
6. Start your own fund to raise capital and invest in the secondary market.
7. Achieve bank status to be able to accept deposits.

6 Related Question Answers Found

How many loans does the average loan officer close?

Most loan officers can close anywhere from 18 to 25 loans in a year, with some doing as many as 35 to 40. According to U.S. News, which ranks loan officers as #14 on its list of Best Business Jobs, the average salary for a loan officer in 2015 was $63,430 with the upper 75th percentile making over $90,000.

Is being a mortgage broker a good career?

According to the Bureau of Labor Statistics (BLS), the career will have an 11% increase in demand between 2016 and 2026. This rate is much higher than the national average for all careers, making a job as a mortgage broker an excellent option for those interested in the finance field.

Is being a mortgage loan officer stressful?

You deal with stress well. Like any job working with the public, the position of a loan officer can sometimes be stressful. If you can deal with that stress in a calm manner, your career as a loan officer is likely to be lucrative.

What do the top mortgage lenders make?

While ZipRecruiter is seeing salaries as high as $149,433 and as low as $19,662, the majority of Mortgage Broker salaries currently range between $39,815 (25th percentile) to $94,869 (75th percentile) with top earners (90th percentile) making $114,531 annually in California.

What is Chairman’s Circle guaranteed rate?

After several years as a Guaranteed Rate President’s Club member, he was named to the prestigious Chairman’s Circle, an exclusive club for top producers who exceed $100 million in annual loan volume, in 2015, 2016, 2017, 2018 and 2019.

What is Presidents Club at guaranteed rate?

This 12-month mentorship program combines classroom and hands-on learning with top originators who commit to providing guidance to help you learn the mortgage business while honing your skills. We have big goals and are looking for people who can help us reach them. Join us!