Ladies and gentleman, I must share with you I had the opportunity to interview my first mortgage consultant, TaWana Furbush of National Lending Corporation (NLC) a couple of days ago. I did this for a couple of reasons: 1) when I met her a couple of months ago and she stated she was a mortgage consultant that peaked my interest from the start and 2) I wanted to find out her insight on what is happening in the industry. Sure these are not the only reasons but these are the beginning reasons for my interview. So over the next few days I will be sharing with you all about the interview. First and foremost, I must admit I did knot know what a mortgage consultant was and wanted more information.
Question: What is a mortgage consultant?
Furbush: In the company that I work with, National Lending Corporation (NLC), a mortgage consultant is the third level on the compensation scale. I consult borrowers, originate 1003 applications (standard mortgage applications) and shop for loans that I feel will suit them.
Question: Is there a difference between a mortgage consultant and a mortgage broker?
Furbush: Yes. A mortgage broker is licensed. I am not nor do I have to be licensed as long as I work under the umbrella of NLC (the Broker). However, I can make as much income or more as a mortgage broker without the overhead.
I have to share that already seems like a bigger benefit to being a consultant versus a broker. If you are a mortgage broker, what are your thoughts on this?
