Becoming a Mortgage Broker

D

Dan-MD

Guest
Hi,

I'm thinking about becoming a mrotgage broker / QFA intermediary (as a start up enterprise). I'm aware of the QFA and Mortgage Cert courses, but are there anymore requirements needed, in particular;

* getting fin. institutions on your books
*IFSRA requirements and reporting
*general environment within the business.

Any thoughts would be appreciated.
 
Dan MD,

Have you worked in this field before ? I presume not. It seems every Tom, Dick & Harry are looking to enter this industry as they perceive as easy money. There is alot of regulations.
 
more than the regulations there is also a lot of hassle. a friend works as a mortgage broker in dublin and is trying to get out of it. it is not particularly lucrative job as far as i can see but the mortgage broker that i know always seems to be stuck between the bank and a lot of very stressed out borrowers.
 
Thanks.
You are correct - I haven't worked in this field before but have experience in corporate finance and structured products. I'm exploring an avenue of self employment and this is one. I'm considering a overall approach of financial services to include mortgages and investments/BES etc.
 
that sounds much more sensible. given you experience i would imagine that you should not have much trouble in passing the exams. all you have to do is find the clients now..
 
Have you any experience yourself - does anyone know the margind involved and the difficulty of finding banks to offer the products, i.e., do they like to keep the products in house?
 
Just a thought....

I think people sell businesses on websites so you may be able to buy a mortgage brokerage business. I know of one (and have no affiliation) but am sure there must be others [broken link removed]
 
Hey Dan-MD, how's the search for non-corporate freedom going? Manage to get your biz off the ground? The proverbial financial tsunami causing havoc for you?
 
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