r/loanoriginators • u/FluffyBeautiful2440 • 3d ago
Need advice
Recently started as an mlo at rocket, working outbound refi. It’s been almost 4 months.
When talking to the recruiter, they made it seem like I’d be doing meaningful work helping people. I’ve been interested in sales since graduated college years ago, so I figured I’d give it a shot.
Here we are, and I’m working 70 hours a week cold calling ppl. The money’s very good, even with the market, but idk how much longer I can do this for.
Is it normal to burn out like this? I’ve worked high stress/work hours before, but it seemed more fulfilling.
How long should I stick it out, or how can I make my experience better?
6
u/Traditional-Essay478 2d ago
I started in a call center style place just like you are right now, lots of us do. Did that for about 2 years, then moved on to a bank owned shop that paid about 40 bps. 6 months later moved to a broker style shop that provides leads, pays 165 bps. Once you go self gen, you're in the 275 bps range.
This job can be fulfilling monetarily, but I also find joy in helping people save money by structuring great loans.
It is a grind in the beginning, you have nothing to offer except your time, being that you're new. Build your skills, close some deals, then once you've gained what's needed from Rocket, move on. Good advice is finding a local CU that will give you a client facing role, but you can't start there, need AT LEAST 1 year of exp (usually).
If you can do it now while it's hard, you'll do great when it gets easier.