Book Review: Your Successful Career as a Mortgage Broker By David Reed, Amacom: American Management Association, 1601 Broadway, New York, NY 10019, ISBN 0814473709, 978-0814473702, $18.95, 240 pages, 2007

David Reed’s most recent mortgage title; His successful career as a mortgage broker complements an ongoing successful career in mortgage banking and his previous three mortgage-related books. Based in Austin, Texas, Mr. Reed writes mortgage columns for Realty Times and Mortgage Originator. For those considering a career as a mortgage broker, banker, processor, or underwriter, this book is packed with everything you need to know before launching into this exciting field of work.

Chapters cover: The Mortgage Loan Officer and His Team, How Do I Get Started, The Mortgage Banker vs. The Mortgage Broker, The Loan Application Process, Types of Mortgage Loans, Loan Prequalification and Approval, Loan Documentation, Loan Interpretation credit reports and credit scores, Interest Rates: How They Are Set, How To Price Them, How Brokers Make Money, Promote Yourself, And Marketing Secrets From The Pros. Additional features include a preface, glossary, index, and comprehensive resource appendix The 1003 and Disclosure Forms, Ten Steps to Becoming a Successful Home Loan Officer, Ten Steps to Becoming a Mega-Producer ($250,000+ per year), Sample Marketing Pieces, Industry Resources, State License Chart, and Payments Per Thousand Dollars Funded.

I found the chapter on loan documentation especially informative. In an era where borrowers can choose to have all or none of their income or assets verified to secure a mortgage, Mr. Reed does an excellent job of outlining the process and alternatives for new or prospective mortgage bankers or brokers. .