Damn… my four-year degree only waives the 2-year work experience for the broker’s license exam prerequisite. I still need to take about 8 mortgage lending/real estate courses. Even if I do accomplish all of that, getting broker approval from various investors is a great challenge. Countrywide, for instance, requires two years in the mortgage lending experience and good standing with three different institutions. If a person just got their broker’s license, how are they approved with three institutions/investors? Basically, I will have to look for investors that would approve me as a newbie. Damn hard to do unless I’m well-connected in this field. Can’t be well-connected in this field unless I’ve worked in this industry for more a good time (i.e., more than 5 years).
Hence, my dreams of brokering mortgage loans as a side business might be more difficult than originally thought. Seems to be the pattern for all my endeavors. Oh, well. What worthy ones aren’t, right?