How to become a loan modification agent

how to become a loan modification agent

Things You'll Need

Loan modification certification training


Gain experience working as a salesperson, real estate agent or mortgage specialist before you start doing loan modifications. Build your knowledge about the real estate industry and foreclosure process. Though some real estate offices simply look for people who are strong communicators and good problem-solvers, working first as an agent will hone your customer service and personal selling skills.

Attend a loan modification certification training course. The course should teach you the basic fundamentals of the loan modification process such as how to manage referrals, process loan modification applications and develop strategies for structuring a successful loan workout.

Publicize and market your loan modification services to clients and prospects. Most real

estate companies are looking for people with multiple skills and broad experience that can help grow and expand their businesses. Inform your supervisor that you wish to acquire experience in the loan modification department or look for a real estate or mortgage company that is hiring specialists. Some companies allow employees to work remotely if the position is based in their call or telemarketing centers. (See References 1 and 2)

Consider opening your own loan modification business. Ideally, you will have developed a significant database of leads and contacts for direct mailing campaigns. Market to these leads periodically to generate new business. Network with nonprofit organizations, such as loan counseling agencies and other community organizations to grow and develop your referral base.


Category: Credit

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