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The Complete Idiot's Guide to Success as a Mortgage Broker by Marian Edelman Borden, Daniel S. Kahn

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Chapter 5
Book Smarts and Street Smarts
In This Chapter
• State licensing requirements
• Testing for a new career
• Ten best test tips
• The pros and cons of out-of-state licensing
 
The mortgage broker industry is regulated by federal laws, federal enforcement agencies, and laws or licensing boards in over 45 states. Working as mortgage broker takes both study and experience. While a college degree in finance, economics, or business is certainly helpful, there are no college degree requirements in order to become a successful mortgage broker. On average, the earnings of mortgage professionals with graduate degrees or professional certification were approximately 10 to 15 percent higher than those without. The minimum age requirement varies from ...

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