Mortgage Broker Job Profile and Description

A mortgage broker is one who provides information and mortgage products from various mortgage companies to customers. In other words a mortgage broker acts as a real estate agent that assists the customer to explore the various mortgage providers by comparing the features of the mortgages offered.

Mortgage Broker Duties and Responsibilities

The duties and responsibilities of a mortgage broker are provided here below:

  • Provide assistance to the mortgage seeker right from loan processing until disbursal stage.

  • Negotiate the real estate transaction with the parties to get the best deal for the client.

  • Provide assistance to client in completing documentation and paper work without any hassles.

  • Keep track of the mortgage accounts of all the clients so that there is no default.

Mortgage Broker Skills and Specifications

The skills and specifications that are required of a mortgage broker are specified below:

  • A good mortgage broker should have good listening skills so that the need of the client is understood properly.

  • Good interpersonal relationship is essential to maintain good relationship with peers, clients etc.

  • A mortgage broker should have an eye for detail in order to check all the details of the mortgage carefully and not to miss out on any vital information.

  • Good investigation and research skills that help in advising the clients about litigation properties well in advance.

Mortgage Broker Education and Qualification

The education and qualification requirements for a mortgage broker are:-

  • A bachelor’s degree in any field such as business management, arts or science is necessary.

  • A diploma in real estate management is an added advantage for a candidate.

Mortgage Broker Salary

The average salary of a mortgage broker depends on the years of experience held by the candidate and can be anywhere in the range of $30,000 to $80,000.