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Anyone who has been thinking about becoming a mortgage loan officer in New York in 2014 should be taking action now instead of waiting any longer. Right now is a great time to work in mortgage banking, but there are certain federal and state-level requirements that prospective loan officers must be aware of. First of all, future loan officers need to understand why this is a great time to enter the mortgage origination market. Related: 6 Signs You’re On The Wrong Career Path The housing and residential mortgage markets in the United States suffered a period of great downturn during the Great American Recession and the global financial crisis. It took the Federal Reserve considerable effort to stimulate the housing economy, and the first glimpse of a real recovery arrived in late 2012. After years of mortgage loan modifications and refinancing activity thanks to government initiatives such as the Home Affordable Modification Program (HAMP) and others, the 2013 mortgage market actually expanded to include home purchases. The bottom line is this: Americans are once again buying home and the housing economy is growing and adding jobs. This is happening in the Empire State and across the U.S. This is good news for mortgage loan officers who stand to earn quite a bit of money in 2014 and beyond. This is how to get started:

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