How to Become a Mortgage Loan Area Manager

Step 1: Understand the job description and responsibilities of a Mortgage Loan Area Manager

What does a Mortgage Loan Area Manager do?

A Mortgage Loan Area Manager manages mortgage loan activity for a particular geographic region. Oversees multiple branches to ensure loan policies are being met. Being a Mortgage Loan Area Manager develops goals and ensures loan operations and procedures are in line and goals will be met. Requires a bachelor's degree. Additionally, Mortgage Loan Area Manager typically reports to top management. The Mortgage Loan Area Manager manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. To be a Mortgage Loan Area Manager typically requires 5+ years of managerial experience.

Step 2: Learn best tips to become a Mortgage Loan Area Manager

Best tips for those who want to become a Mortgage Loan Area Manager

Here are some tips to become a Mortgage Loan Area Manager.

Step 3: View best colleges and universities for Mortgage Loan Area Manager

Best colleges and universities for Mortgage Loan Area Manager

  • Florida Southern College
  • Colby College
  • Dartmouth College
  • University of Notre Dame
  • Western Washington University
  • Canisius College

Step 4: Think about whether is it worth to be a Mortgage Loan Area Manager

Is being a Mortgage Loan Area Manager Worth it?

People's Opinions on lifestyles

If a mortgage loan officer gets just one of those deals to go through, it often equates to a huge payday, sometimes as much as a few months’ salary working a minimum wage job or other lower paying jobs.

01/04/2020: Fayetteville, NC

Conversely, someone who expects to have a loan for a very long time may benefit from a lower rate attained by paying “points” (one point is 1% of the loan amount).

12/19/2019: Vineland, NJ

An MLO may partner with a Mortgage Loan Associate (MLA), and together, the pair may be better equipped to guide homebuyers on loan options.

01/22/2020: Knoxville, TN

When a homebuyer wants to get a loan, the homebuyer finds a mortgage broker to broker the loan.

02/13/2020: Lancaster, PA

Oftentimes, the mortgage broker works in the same office and manages loan officers.

03/04/2020: Lorain, OH
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Step 5: Prepare relevant skills for being a Mortgage Loan Area Manager

What skills do you need to be a Mortgage Loan Area Manager?

Due to the management level associted with this job, many skills are required to being successful and ensuring the success of your team.  It is necessary to be able to excel with: Mortgage Loans, Operations Management.  For management positions, some skills may come as a no brainer, for this role those would be: Loan Software.  As you can tell, it is no easy feat to be a manager, and the skills required reflect that.

People's Opinions on Mortgage Loan Area Manager skills

Knowledge of all aspects of mortgage lending with good understanding of all agency, including but not limited to, FHA, VA, FNMA, USDA and portfolio underwriting guidelines.

01/18/2020: Columbus, OH

Minimum 5 years mortgage loan experience, and 2 years of management experience.

11/28/2019: Reading, PA
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Step 6: View average salary for Mortgage Loan Area Manager

How much does a Mortgage Loan Area Manager make?

The average salary range for a Mortgage Loan Area Manager is from $98,664 to $158,410. The salary will change depending on your location, job level, experience, education, and skills.

Salary range for a Mortgage Loan Area Manager
$98,664 to $158,410

Step 7: Find relevant Mortgage Loan Area Manager jobs, and apply.

Looking for Mortgage Loan Area Manager jobs?

Here are some Mortgage Loan Area Manager jobs in the United States.

Search Mortgage Loan Area Manager Jobs in the United States

Step 8: Explore Career Path of Mortgage Loan Area Manager

Step 8: Explore Career Path of Mortgage Loan Area Manager? Mortgage Loan Area Manager