N*F*B: Time for me to face the music

[Jay 02 TA ws6]

I am not good at my job ..........

I can tell you all you want to know about mortgages, but I can't sell them for the life of me, it's time to move on ASAP. No more 12 hour days commuting an hour each way and coming home empty handed...

Anybody who's been through a career change want to offer up some advice? It would be greatly appreciated...

I'm really discouraged right now

[PUREPWR]

I work for the largest mortgage subservicer in the country...Dovenmuehle Mortgage. Ever heard of it? It sucks, its hell there, i only work 19 hours a week and i want to killl myself right when i get there every day .

[casey02ws6]

The mortgage industry, like everything else, is not for everybody. There are lots of things I would rather do but, fortunately (or unfortunately depending on how you look at it) I am very good at what I do. I could not go into another industry and make what I do. There are more important things than money for sure but I am home with my family every night and do not work weekends. I use those hours to the best of my ability. Jay - you and I have had some conversations about your job and it is obvious you hate what you are doing. They say that if you love what you do you will never work another day in your life! Makes sense to me. Good luck - why don't you go out and start a car customizing business - get it going - then hire me! LOL.

[Kevin - Blown 95 TA]

I am not good at my job ..........

I can tell you all you want to know about mortgages, but I can't sell them for the life of me, it's time to move on ASAP. No more 12 hour days commuting an hour each way and coming home empty handed...

Anybody who's been through a career change want to offer up some advice? It would be greatly appreciated...

I'm really discouraged right now

Don't worry about it too much Jay, you ain't been at it long enough for it to be a career! Just pick something else that suits you - You have a business degree, right? That's a pretty versatile degree. No worries - you might just pretend you never had the job.

[Jay 02 TA ws6]

The mortgage industry, like everything else, is not for everybody. There are lots of things I would rather do but, fortunately (or unfortunately depending on how you look at it) I am very good at what I do. I could not go into another industry and make what I do. There are more important things than money for sure but I am home with my family every night and do not work weekends. I use those hours to the best of my ability. Jay - you and I have had some conversations about your job and it is obvious you hate what you are doing. They say that if you love what you do you will never work another day in your life! Makes sense to me. Good luck - why don't you go out and start a car customizing business - get it going - then hire me! LOL.

Well Casey, I don't have a passion for what I do, but I wouldn't say that I "hate" it. I certainly do hate that I am not good at it. It's frustrating as hell... I know these products, the indices, the margins, buydowns, caps, etc like the back of my hand. But what I can't do is sell someone on doing business with me even though the rate or the fees might be slightly higher than what their local bank can give them... I'll educate the hell out of them, save them a lot of money because I find the right loan for them, but then they shop for that SAME loan somewhere else and find it cheaper It's like I saved them money whether they did business with me or not!!!!

[casey02ws6]

If you don't hate the mortgage industry maybe you should try the "sub prime side". The borrowers I work with are more interested in how much cash we are giving them. I help a lot of people by structuring the loans to best suit them. They call us for no money down purchases and stuff the banks cannot do. We don't have as many "rate shoppers" as you are dealing with it seems. I can honestly say in 9/10 loans I make I am happy to make the loan. I had a broker that charged a borrower 12K in fees last month (the broker charges the fees - I work for the lender) - and the borrower was thrilled. We lowered their mortgage rate 2.5%, paid off 52K in credit card debt, gave them 1 fixed payment, saved them $850/month, and gave them 5K in cash. They said at closing this was the last loan they would ever need - so it was not that bad. However, the customer could have shopped and got a much better deal as far as fees - they just wanted it done.

[Jay 02 TA ws6]

If you don't hate the mortgage industry maybe you should try the "sub prime side". The borrowers I work with are more interested in how much cash we are giving them. I help a lot of people by structuring the loans to best suit them. They call us for no money down purchases and stuff the banks cannot do. We don't have as many "rate shoppers" as you are dealing with it seems. I can honestly say in 9/10 loans I make I am happy to make the loan. I had a broker that charged a borrower 12K in fees last month (the broker charges the fees - I work for the lender) - and the borrower was thrilled. We lowered their mortgage rate 2.5%, paid off 52K in credit card debt, gave them 1 fixed payment, saved them $850/month, and gave them 5K in cash. They said at closing this was the last loan they would ever need - so it was not that bad. However, the customer could have shopped and got a much better deal as far as fees - they just wanted it done.

I gotcha beat

I am paying off $114,000 worth of credit card debt, consolidating it into the guy's mortgage for a fixed payment that is $1100 lower than what he had. I just hope we can get this one to closing, it isn't the cleanest loan ever...

[casey02ws6]

Yeah - but are you going to charge them 12K? LOL. That broker has to be one of the best I have dealt with - she actually got the borrowers to bring $1500 to closing