Mortgage to Insurance?
- Thread starter BrentC
- Start date
Why not do both? Find a company that can does Mortgages and Insurance and do them both. I am doing it now and it works out. If you want to market heavily on Insurance go for it but if you can snag a deal or two of loans why not?
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- 9,744
Mortgage brokers are used to "big" scores. Insurance (depending on the type, or course) is mainly "little" scores.
Here's another:
Are you looking to get in to insurance cuz you want to, or is it that you want to get out of the mortgage business...
Here's another:
Are you looking to get in to insurance cuz you want to, or is it that you want to get out of the mortgage business...
- Thread starter
- #4
Thanks for the response.
Both. I've been very interested in insurance for about a year but I've always been hesitant to leave my comfort zone.
Right now, I'm at a great bank for mortgages and a great division within private banking. But I am 29 and I've only done mortgages since graduating from college. I'm getting to the point where if i don't make a move within another couple years, it is likely i'll be doing this for the rest of my life. If I left mortgage I would be leaving behind some very big relationships with realtors that I have taken a long time to build.
The "big" score is nice but it is very transactional. I probably won't see that client again for another 4 years. I enjoy relationship management and building.
Mortgage does beat me down a bit: I have to get the deal, be competitive, underwrite income/asset statements to guidelines changing daily, then hope that we can close 30 days later.
Both. I've been very interested in insurance for about a year but I've always been hesitant to leave my comfort zone.
Right now, I'm at a great bank for mortgages and a great division within private banking. But I am 29 and I've only done mortgages since graduating from college. I'm getting to the point where if i don't make a move within another couple years, it is likely i'll be doing this for the rest of my life. If I left mortgage I would be leaving behind some very big relationships with realtors that I have taken a long time to build.
The "big" score is nice but it is very transactional. I probably won't see that client again for another 4 years. I enjoy relationship management and building.
Mortgage does beat me down a bit: I have to get the deal, be competitive, underwrite income/asset statements to guidelines changing daily, then hope that we can close 30 days later.
Maybe it has something to do with something like this:
Indiana Loses Nearly Half Its Mortgage Brokers To New Licensing Law
Indiana Loses Nearly Half Its Mortgage Brokers To New Licensing Law | Housing Doom
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The nice thing about Mortgages is that you don't have to stop doing them to start another career. One thing I do see from the agents in this field and the agents in that field....most insurance agents are much happier people over all. I do agree with reLwaL about doing both. Seems to be a growing trend.
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I transitioned this year. Less headache and heartache.You have to work on volume.
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I'm sure being in LA in the mortgage biz didn't help. Very Tough market. Glad to hear you are liking this better. I still market for both, luckily the marketing schedules do not conflict with each other. Nice thing for you is you can cross sale both when the opertunities arise.
Good luck to you!
Good luck to you!
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