I was reading on a mortgage broker blog the other day about the job market for unemployed mortgage brokers. According to what many of these people are posting on the blog they are widely considered to be the equivalent of toxic waste when it comes to getting a new job. There are very few opportunities in the loan origination field and almost nobody outside the RE field wants to hire them either.
There are lots of stories about sending out hundreds of resumes and not getting a single call. A couple people spoke of going to job fairs and being told straight out that the HR managers have been instructed to avoid anyone who’s ever worked in any capacity for a mortgage brokerage.
Even the people who are still employed are making a lot less money than they were a couple years ago. “Less” as in below 50%.
Just so you know what you’re getting into. Be prepared to first be told he can’t get a job, and then when he does get a job be prepared to be told he’s working for $10/hour at some service job.