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#1638818 - 12/14/11 03:40 PM Mortgage Company
Anonymous
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I have been working at a bank for over 5 years. I had a friend of mine tell me I should look into getting a job ata mortgage company. Does anyone have any insight on mortgage companies vs. a bank?

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#1638887 - 12/14/11 04:40 PM Re: Mortgage Company Anonymous
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
yes, they only do mortgages, banks do much more...with the limited info in your post that is about all I can tell you...

maybe stating what your current role is in your bank would be a good starting point
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Providing alternative truths since the invention of time

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#1638888 - 12/14/11 04:44 PM Re: Mortgage Company HappyGilmore
Anonymous
Unregistered

HAHA!! Ok I'm sorry about that...I am a real estate loan processor...Just didn't know how much different it would be to go from a bank to a mortgage company.

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#1638992 - 12/14/11 06:54 PM Re: Mortgage Company Anonymous
West Coast Comp Offline
Gold Star
West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
I have worked for both. Regulatory agency will be different (or at least a different division). No Safety and Soundness (usually). Mortgage Companies tend to be more cyclical, based on the mortgage industry, whereas, banks tend to be more stable due to greater diversity of income sources. Mortgage Companies tend to be more entrepreneurial, and driven, while banks are a little more laid back (production wise). Mortgage Companies tend to be less formal. Bankers tend to look down on mortgage folks. Bank’s have greater opportunity for expanding your experience due to the greater variety of products offered by comparison to mortgage companies, but mortgage companies usually offer a greater variety of loan products.
Please, note I’m only speaking to tendencies I have experienced, there are always exceptions on both sides of the fence.
I enjoyed the time working for a mortgage company and don’t regret it, but I like the greater variety of working for a bank.
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