Originators Lack Adequate Education

Survey of brokers and lenders
By SAM GARCIA
11/9/2001

Mortgage lenders and brokers nationwide do not feel that their originators and processors have the knowledge they need to be totally effective in their respective positions, according to a survey conducted by Mortgage-Education.com. The survey of 1,200 mortgage brokers and mortgage lenders was completed in August of this year.

Respondents were asked the following question:

"Do you feel that your loan originators and loan processors have all the
knowledge they need to be totally effective in their respective positions?"

Mortgage-Education.com, which says it has developed a unique method for teaching users about the loan origination process, reported that it surveyed 400 mortgage brokers and mortgage lenders in each of three regions of the country (East, Midwest and West).

"The response was amazing," said Dan Johnson, founder and president of the Kennesaw, Georgia company. "Seventy-six percent of the respondents said 'Absolutely Not!' They try to train and keep up with all the changes, but simply cannot maintain the needed production and take time to teach," he continued.

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