non – apprenticeship
AT A GLANCE
Mortgage broker managers plan, organize, direct, control and evaluate the operations of an establishment or department that finds lenders or lending institutions on behalf of clients seeking a mortgage.
Some other duties may include:
Source: National Occupational Classification 2011, Insurance, real estate and financial brokerage managers 0121; www2.careercruising.com (Mortgage Brokers)
Mortgage brokers work in mortgage brokering practices, either independently or in partnerships. A lot of your day will be spent talking with various people in person, over the phone, and via email.
You will need to explain mortgage types and rates, answer questions, and respond to requests and/ or negotiate rates with the following people:
Paperwork takes up a great deal of mortgage brokers’ time as well. For example, you will need to prepare quotes and draw up contracts for clients.
In this job you may have to work outside of regular business hours, such as evenings and weekends, so that you can make contact with bank personnel and be available to your clients when they’re available.
|LOW WAGE||MEDIUM WAGE||HIGH WAGE|
$19.00 / hour (average in MB)
$31.19 / hour (average in MB)
$48.72 / hour (average in MB)
If you are still in high school, here are some suggested subject areas to study that could help prepare you for further training in this field. Please check if these courses are available at your school and/or whether they will meet your graduation requirements. Some examples may include the following:
The Manitoba Securities Commission administers The Mortgage Brokers Act. This act seeks to protect mortgage investors and borrowers by regulating mortgage brokers and mortgage salespersons as defined by the Act.
The minimum requirements for each registration include being at least 18 years of age, completing approved application forms, paying registration fee ($175 – $500), and completed Criminal Record Check Form.
Please click on the links above for more detailed information about the registration process. For the most up-to-date information, please visit The Manitoba Securities Commission