>> My name's Layton and I'm a mortgage banker
with Renaissance Bank here
in Nashville, Tennessee.
>> Okay, Layton, what does a
mortgage banker do day to day?
>> Well, I'm on the origination side so my
duties involve -- they're kind of twofold,
one is generating business so on the phone,
making calls to people in real estate,
construction, finance, trying
to get them to send us leads
and then other part would
be actually interfacing
with a client would be taking their application,
find the right loan product for them
and then walking them through
that waiting process.
>> What do you -- can you think of maybe
like an example of specific, you know,
project you were working on, specific client
that you had just to kind of bring us in.
Give us an example of exactly what you did them.
>> Sure, I mean really most of them are
pretty -- it's pretty generic so, you know,
the loan products, themselves, are structured by
the government so that they're pretty conforming
so what you do is, you know, whether it's on
the phone, online, in person, you're going to be
with that person, get their
application and really in today's market,
you've only got a handful of loan
products to choose from so you run it
through an automated underwriting engine to
find out which is the best product they're going
to be approved for and then price it
accordingly so it's really not a whole lot.
It's a pretty standardized process, you know,
they call it as your uniform loan application
and uniform deed of trust because
it is so, you know, boiler plate.
>> In terms of the potential to make, you know,
large amounts of money, is that there as well
as sky is the limit in that regard?
>> To a degree, you know, it is --
there is a lot of upside because you are on
straight commission but at the same time,
it's a very commoditized market
and your margins are pretty slim
so you do hit a ceiling for the most part.
You know, there's always some [inaudible]
source that will out produce but in general,
you're going to see most of your top level
people kind of cap out at certain points
and it will vary from market, depending on
what the loan sizes you're dealing with are.
>> Layton, what's the day like?
Are you behind a desk, kind of dealing with
papers, on the phone or are you kind of out,
meeting people, making connections that way
after hours, kind of -- what's that like?
>> It's a lot of both, I mean you do kind
of wear a lot of hats so on your, you know,
someday, for me, I would [inaudible]
to where I would actually have --
try to have one or two days in the office
behind the desk, you know, meeting with clients
or just following up on files but you can really
do it any way you'd like to so you do need to be
out meeting people, either for try to
identify them as leads, themselves,
or in just [inaudible] development role
so, you know, you do need to be willing
to be involved with, you know, associations,
you know, like whether it's the Chamber
or a realtor association, you know, CPA
association, you do do a fair amount of out
of the office work but, you
know, since it is your business,
you can always set it up how you'd like to.
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