I beleive the single biggest problem with the Mortgage Industry today is a lack of training for new originators. In a perfect world, mortgage companies would do it themselves. In a less perfect world, the new LO’s would pay for their own training. In the world we live in, it’s common for neither to occur.

Let’s face it. Most new LO’s cant afford their own training, and many mortgage companies find it hard to provide free training, only to see these new LO’s move off on their own as soon as they are trained.

The result is that many bad practices are unknowingly perpetrated. Sometimes, this ends up costing the consumer, and damaging the reputation of our entire industry.

My solution is to eventually provide a complete and free training resource for new Loan Originators. The only problem is, I don’t have time to write all the articles. The result, is an open source work in progress. The mortgage training wiki accepts articles from other professionals in the industry. If you wish to contribute, please email me at todd@mariah.com for details.