Are you ready to make the life-changing career switch from retail lending to wholesale as an independent mortgage broker or loan officer? Our team at BeAMortgageBroker.com is here to help you every step of the way.

BETTING ON HERSELF - AS AN INDEPENDENT MORTGAGE BROKER

Being able to deliver for your clients is essential to anyone in sales. In the mortgage industry, the advantages of working in wholesale over retail lending highlight that point. It’s why so many loan originators like Deana have left retail behind to be able to deliver a far better client experience as an independent mortgage broker.

A Love for numbers

Deana’s story began in New York where she worked as a software engineer. She was doing quite well, and then 9/11 changed everything. Deana already had an interest in real estate and owned several investment properties. Coupled with her love for numbers, the move to mortgages was a natural fit.

She started working for a mortgage broker in Florida as a receptionist, working her way up the company ladder while learning the business. Deana eventually became the branch manager, leading a team.

“Being in every role helps you understand, especially when you get to the point of being a broker, how to hire, who‘s a good fit for those jobs, as well as understanding how to teach them the way to do things the right way so that you don't get any bad habits,” said Deana.

A moment of clarity

After one of her children experienced health issues, Deana got out of the mortgage business for a time. When she eventually returned, she worked for a retail lender where she quickly realized it wasn’t the same experience for her or her borrowers or her real estate partners.

“Feeling like you're a small fish in a large pond,” said Deana. “You start to just accept, oh, it's just not going to happen, and I didn’t feel confident anymore in what I could deliver, not only to my clients but to my team as well.”

Deana’s moment of clarity came in the middle of the night –— she had her mind made up about her next move in her mortgage career.

“l woke my husband up and I was like, ‘Hey, I’m going to open up my own brokerage. Can I do this on my own?’ And he was like, ‘Can we talk about it in the morning’?”

Back to broker

The answer to her question was a resounding yes. Like many who transition from retail to wholesale mortgage lending, Deana leveraged the resources and support available exclusively to mortgage brokers just like her. Having already worked in the mortgage brokerage model, Deana had a vision for what she wanted her business to look like.

“Being a broker, you are the owner of your business. You are independent and get to create your future without having to rely on other people,” said Deana. “You're creating a roadmap for your business and you write down what you need and you go one step at a time.”

One of those steps was getting the band back together so to speak — once Deana had everything up and running, she started recruiting her old team to join her so they could also take advantage of the benefits of working in the wholesale side of the mortgage industry.

For Deana, being able to deliver on what she promises her real estate agents and borrowers proves she made the right choice. She bet on herself and won. And she encourages others in retail to do the same.

“Sometimes you've got to make that uncomfortable move of change,” said Deana. “I can tell you that taking the leap to being a broker is the best decision I made and I would recommend it to everyone.”