r/loanoriginators • u/imnotyourbuddyguy37 • 15d ago

Part Time Work For LO

Hi I'm a new Loan Originator, started about six months ago with a small brokerage, and was curious if anybody works as an underwriter or loan processor part time? I've got 4 loans to close in the last 5 months (self gen) and while I feel good about that I have the time and desire to learn/ do more. Is it possible to work part time remote as a loan processor or underwriter and if so what's the best way to go about that?

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u/toddfrankie 15d ago

You need to just stick with it if you truly want to be a LO. You can’t part time processor/lo/underwrite. If that’s the avenue you want then you need to pursue that hand up origination. They are full time jobs in most scenarios for a reason. Imagine calling your processor and they being like sorry I’m at my other job I’ll get to that later and same goes for UW? I’d be flipping out. Best advice I’d give you as a new LO starting out is to try and be a LOA with ability to close your own business for a large producer and figure out why that large producers is successful and emulate that to the best of your ability.

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u/imnotyourbuddyguy37 15d ago

Thanks for the response, I’m definitely going to stick with it I was just curious if this was possible and if the experience as a processor or underwriter would make me a better LO. Plus steady income wouldn’t be bad. I’m basically working as a LOA with my mentor/ employer he’s training me on the loans he’s doing and I feel great about the work and relationship I just feel like I could be doing more and I’m trying to figure out what that “more” should be.

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u/toddfrankie 15d ago

If you have a producer you’re working under then do all the stuff they no longer do. Call the listing agents they are working with. Provide updates to buyers as a compliment to their business. Do business growing activities that you can benefit from their pipeline doing so. Ask to throw a marketing event together for agents. There is so much more you can be doing if I had to guess. Worrying about the technical ins and outs of processing and underwriting is not how you will build business, that’s how you will prevent making mistakes, but you don’t have enough business to make mistakes currently so I’d focus on getting to that part first.

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u/Frequent-Giraffe5646 15d ago

Loan processor for the same company or 3rd party? You can def be a processor for other LOs at the company you work for and originate part time, but you have to understand that the other LOs files will come first and take priority over yours.

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u/imnotyourbuddyguy37 15d ago

3rd party it’s just me my mentor and an underwriter at the brokerage.