How to Grow Your Career in the Mortgage Business: 5 Helpful Tips

August 15th, 2018 Written by: Molly Masterson

There’s a natural desire for career growth among most people. After spending significant time in a single role, they want to expand their horizons, grow their knowledge, and reach new heights. And for those in the mortgage section, the opportunity couldn’t be more ripe for working toward that next career step.

With loan originations reaching a new high since the Great Recession, opportunities to grow are plentiful in the mortgage industry, with several paths you can take that lead to career growth and advancement.

But how can you take advantage of these opportunities and carve your own path to career success?

As a staffing agency with over 50 years of experience, we’ve helped hundreds of mortgage professionals launch and grow their careers through quality job placements. To help you grow your own mortgage career and carve out a career path that’s best for your skills, follow our tips below.

1. Complete a Mortgage Industry Certification

Whether you’re a new member of the mortgage team or you’ve been in a junior position for a long while, your education and work experience add to your mortgage knowledge. However, other opportunities exist to expand your expertise. Industry certifications, for example, show your customers and employers that you’re a dedicated and accomplished mortgage professional.

A certification might be:

  • Certified Mortgage Banker (CMB)
  • Accredited Mortgage Professional (AMP)
  • Certified Residential Underwriter (CRU)
  • Residential Certified Mortgage Servicer (CMS)

The American Bankers Association (ABA) and the Mortgage Bankers Association (MBA) both have quality education programs you can enroll in and complete to receive your certification. When shopping around for which certification you should complete, choose a certification that is the most relevant to your role (e.g. underwriter, loan officer, loan servicer).

2. Attend Mortgage Industry Seminars and Conferences

Speaking of the ABA and MBA, they are just two influential associations that regularly host mortgage industry seminars and conferences. For a mortgage professional who is looking to take their career to the next level, these conferences represent a unique opportunity to network with other well-respected individuals in the industry as well as learn key trends, best practices, and emerging strategies.

Aim to attend at least one industry conference a year. The MBA’s Annual Convention & Expo , for example, is a great place to meet other real estate finance professionals and learn from distinguished residential mortgage lending experts. If you don’t want to travel across the country for a conference, your local mortgage associations likely have their own conferences you can attend.

3. Get Involved in Associations

If you want to go the extra mile beyond just attending one conference each year, getting involved in the local chapter for the MBA, ABA, or another mortgage association is also a great way to meet other professionals, stay current on local market news and trends, and keep a pulse on local job opportunities. Not only can you go to local chapter events that offer additional learning and networking opportunities, you can also serve on the chapter board.

By getting involved with and joining an association, you’re showing your peers as well as your leaders that you’re committed to furthering yourself and others within the mortgage industry. Your employer will appreciate the strides you’re taking to grow, showing initiative that they will be hard-pressed to pass up for a future promotion.

4. Be Clear About Your Goals

The phrase “the squeaky wheel gets the grease” has many real-world applications, including when trying to advance your career. Letting your employer know what goals you have helps you get the guidance you need from your supervisor and company leadership.

Dr. Danielle Harlan, CEO of The Center for Advancing Leadership, told Forbes that you should “have a conversation with your supervisor to let them know that, while your first priority is to excel in your current role, your long-term goal is to advance and that you want to make sure you’re doing everything that you can to set yourself up for success.”

Explain where you want to be after one year in the role, as well as two years and five years. Then, ask for recommendations on how you can reach those goals. This allows your manager to think about how they can help you reach those goals. You’re also more likely to be considered for promotion opportunities that align with the career goals you’ve set.

5. Become Familiar With New Technology

In today’s digital world, new technologies are constantly being introduced with serious potential to disrupt industries. Artificial intelligence (AI) and machine learning are just two examples of new technologies that are transforming the financial services workplace by automating processes like risk management, loan structuring, credit investigation, and more.

These new technologies can’t be avoided. Instead, lending institutions are looking for talent that can help them embrace these new technologies. Make sure you’re one of those individuals by becoming familiar with technology and how they can be leveraged in your role. Stay informed of emerging tech through industry publications like National Mortgage News,  Housing Wire,  American Banker, and others. In showing employers that you’re interested in and utilizing new technology, they’ll see you as an innovative member of the team, presenting you with additional opportunities to progress your mortgage career.

Thrive In Your Career

As a professional with plenty of ambition and drive, we know that growing your career is of utmost importance. Joining an association, receiving a mortgage certification, and clearly communicating your career goals are just a few of the ways you can put yourself on the path to success. Employers will see your dedication in action, leaving them to wonder why they haven’t promoted you already.

Feel like you’ve reached the ceiling at your current employer or want to break into the mortgage industry? Land a mortgage job with more opportunity for growth by finding a job with us.

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