Before you were an LO

One of my favorite parts about this job is learning about how people got to where they are.

Good afternoon! Was this newsletter forwarded to you? Sign up here. Hello, LOs! One of my favorite parts about this job is learning about how people got to where they are. Most of the LOs that I've spoken with had long careers in a different field before they became loan originators. Some previously worked sales jobs, others in finance. Then there are the thousands who worked a range of other jobs before becoming fluent in basis points, and hardly any went to college for it.    I know a retired school teacher who does a huge amount of business as an LO in Southern California. A former diner owner doing good business in Michigan, and a retired Navy veteran cleaning up in Hawaii.   Some broker-owners and retail branch managers have even recruited past clients. Randy Howell, the president of Arizona broker shop Mortgage Power, Inc, said some-odd years ago he did a mortgage for a man who was retiring from his career as a B1 bomber pilot in the Air Force. Six months later, the former lieutenant colonel was an associate pastor of a baptist church in Scottsdale, Arizona and looking to bring in additional income. Howell brought him onboard.    "He started part way through the year, he had sort of a so-so year," Howell said. "He made $68,000. The next year he made a little over $250,000. The third year he bought himself a nice new $1.2 million home in Scottsdale. And to this day, he's in the business."   LOs, I'd love to hear from you. What were you doing before you were an LO? How did you enter the industry? Do you encourage friends and family to become LOs? Email me anonymously at jkleimann@housingwire.com.    Hope you have a great weekend!

James Kleimann

Managing Editor, HousingWire

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