Mortgage Brokers specialize in real estate finance, connecting borrowers with appropriate lenders. They assess the needs of the borrower and then match that borrower with one of many lenders the broker is in contact with, reports the National Association of Mortgage Brokers, www. namb. org. Mortgage Brokers review borrowers’ credit history and try to find the best deal for each person. In their choice they need to balance a number of factors like the length of the loan repayment schedule, the interest rate and the monthly payment, depending on each client’s financial situation.
Therefore, the Mortgage Broker collects a diverse range of information about each borrower and builds up a file on him or her to the lender. The Mortgage Broker is also involved in negotiating the details of the loan between the pertinent two parties. In light of the aforementioned benefit stemming from technical knowledge, in May of 2009 I decided to go back to higher education and finish my degree in Finance. Despite the considerable dedication that I had to my job I decided to take this formal training, because it will be an important key that will open more rooms for my career in Finance.
For instance, I have always wanted to work for the government for HUD, Fannie Mae or Freddie Mac or be a lobbyist. Indeed, earlier this year I started searching for jobs at www. usajobs. gov and found several positions that worked directly with Ginnie Mae. In this respect, my dream job is to become an Executive Vice President for the Government National Mortgage Association. This job would be located in Washington DC metro area and I would work with Ginnie Mae.
Ginnie Mae is the Government National Mortgage Association that is a corporation within the Department of Housing and Urban Development. The mission of this corporation entails to provide efficient government-guaranteed secondary market vehicle linking the capital markets with federal housing markets. Ginnie Mae guarantees payment of mortgage-backed securities backed by mortgages insured or guaranteed by the Federal Housing Administration (FHA), the Department of Veteran Affairs (VA) and the Farmers Home Administration (FMHA).
In this position I would be responsible for managing daily operations associated with the administration of the Ginnie Mae program. I would have to maintain proper relations with key officials and executives of housing and securities industries, investment community, members of Congress, other departments and agencies of the Federal Government. Another important role in such post would be to take proper routine and non-routine decisions that can have a significant effect on the Government National Mortgage Association.
This position requires that I have a broad knowledge and understanding of secondary mortgage markets. Such broad knowledge can be categorized in two main areas, being technical knowledge and working experience. Technical knowledge in Finance and even Management are necessary to act as a framework for my job. I believe that such technical know-how is a must for this job. Working experience can be gathered by working in organizations performing similar tasks to the one targeted.
Presently I have 13 years working experience but in order to acquire all the knowledge necessary for such managerial job I need more working experience in public office. My strategy to achieve the aforementioned objective encompasses a mixture of technical knowledge and working experience. Indeed, I plan on completing my degree in the near future, following by pursuing some work in the Public Service. This will aid to boost my profession that has been on a decline due to external variables, like the housing collapse that heavily hit this industry.
However, I am a very committed and resourceful person and I will never give up. This determination is further strengthened by the fact that I love dearly such work and I cannot imagine myself doing anything other than finance. References 1. www. payscale. com 2. http://www. bls. gov/opub/mlr/2007/11/art2full. pdf Betty W. Su Employment outlook: 2006–16 The U. S. economy to 2016: slowergrowth as boomers begin to retire 3. www. namb. org 4. www. usajobs. gov