although i do work for a direct lender, i just asked for permission if im allowed to contact AE's outside our company. i want to interview AE's to speed up my learning curve in regards to the different type of products and also to gain some insider tips as a new loan officer.

im not quite sure what kind of questions to ask so im looking for help on compiling my list. any help is greatly appreciated.

Alvin this might be a bit of a waste of time. if you have no intention on giving them business. most portfolio lenders ALLOW you to broker loans just make sure you can give them business back(the AE)within there niche.

if yur looking for product education, look to places like the scottsmans guide. broker magizine and other industry publications. other message boards that cater to mortgage brokering would be helpful. try brokeruniverse and the grapevine.

look to some of the non-conforming lenders, visit there websites and review U/W guidelines.

??? to ask AE'S

turn around times?
online pricing?
are exceptions made in-house or do you have to run past the investor?
can they use our credit or will they repull and use there score?
1 year chain of title required??
reserve requirments?
source and seasoning of funds to close?
credit score criteria?
BK and F/C seasoning???
do they need documentable rent history??
any tradeline requirements??

there is a million more. all depends on specific loan. if your searching for the out-of-the-box type of lenders, they wil all have diferent guidelines.

any ??? shoot me an e-mail. floridamutual@tapabay.rr.com

Jim

Alvin are you producing?

not yet i just started a few weeks ago. still learning the nuts and bolts

I sent you a page saying that I would sit down with you to answer some of your questions if you wanted to (you are only a couple of miles away from me) but you never got back to me Alvin.

Alvin, if you are working as a retail loan officer for a direct lender, your number one priority should be to learn all your lender's products and guidelines so that you know them on the back of your hand. Your main job is not to "broker deals out", it is to sell your bank's products. So I would focus on what your bank can do and not what everybody else can do (if so you need to work for a broker.) You must worry about your bank's u/w guidelines and turn around time and make sure you can deliver any promise that you make.

Being an AE (wholesale) and being a loan officer (retail) are two different things. To become great as a retail loan officer, I would suggest that you talk to other great retail loan officers and learn from them. Asking an AE how to be a great loan officer makes no sense to me, especially when most have never done retail.

Just my 2s.