31 Mortgage Agent Interview Questions and Answers

Updated on: October 3, 2020

If you are about to be interviewed for a mortgage agent position, you need to make sure that you are prepared to answer questions.

How much you know about mortgage lending and borrowing, and the procedures involved will be judged at the interview.

As a mortgage agent, you need to highlight your skills and experience in helping clients secure financing for their homes.

Knowledge of paperwork involved in performing mortgaging work should also be highlighted during the interview process.

You will be judged on how well you can gauge clients’ specific financial situations, and you may even be asked questions to determine how you handle problems.

Here is a set of interview questions and answers to help you prepare for the interview:

Mortgage Agent Interview Questions

Mortgage Agent Interview Questions and Answers

1. Tell me a little bit about yourself.

8 years ago, I began working in finance and mortgaging, and since then, I have cut a niche for myself as a mortgage agent. I am interested in this work primarily because it offers great challenges, and learning.

2. What specific duties have you performed in a mortgage agent role?

As a mortgage agent, I have performed many duties, including reaching out to prospective clients to determine their mortgage needs and working with existing clients to help them with their remortgage and financing requirements. In addition, I have been busy working with both lenders and borrowers to find the best possible deals. Also, my work involves originating loans to sell to lending institutions.

3. What are some of the skills that you can offer to us in a mortgage agent role?

As a mortgage agent, I am skillful in many areas, including client services, and market assessments. Moreover, I am well-versed in acting as an intermediary between lenders and buyers, and can effectively evaluate pay stubs, credit histories, and tax information. Furthermore, I possess an inherent ability to follow through with both lenders and borrowers throughout the approval process.

4. What do you like most about this work?

I am completely in love with my work, as it provides me with an opportunity to do something new every single day.

5. What do you dislike about this work?

Since I am an inherently positive individual, I find nothing dislikable about this work.

6. What motivates you to do your best?

I am a perfectionist by nature. The fact that I want perfection in my work is a key motivator for me.

7. How do you handle adversity at the workplace?

Workplace adversity is a given when you are working with so many clients and coworkers. I do not take adversity seriously unless it has the potential to affect my work in a negative manner.

8. What do you do when you see that a potential client’s credit history is not up to standard?

The place that I work for has certain protocols in place that guide us when such a thing happens. I am liable to follow these procedures to eventually refuse loan approval due to bad credit history.

9. What is your biggest strength?

My biggest strength is my ability to keep working even when the going gets tough.

10. What is your biggest weakness?

Being a perfectionist has its bad points. I sometimes feel that I ask too much from myself, and people working around me.

11. What are you doing to overcome this weakness?

I am trying my best to set realistic goals for myself and others.

12. Do you think you are successful in doing this?

Absolutely. Even though I still work as perfectly as possible, I have tried hard (and succeeded) in not making others’ lives miserable by constantly breathing down their necks.

13. What is your opinion about micromanagement?

While I believed that micromanagement was the way forward earlier, I have a completely different opinion now. I feel that oversight is important, but everyone needs to do their own work, and be trusted to do their best.

14. Can you recount a time when you went well beyond the call of duty to do something?

I recently did something that was highly commended on. I oversaw mortgage details of 25 clients in one day, due to the absence of 2 other mortgage agents. There was a lot of work, and initially, everyone thought that it was an impossible feat. However, at the end of the day, I managed to meet the deadline, earning my supervisor’s respect and accolades.

15. How do you handle stress at work?

I am an organized individual, who handles stress quite well. So, stress has never been an issue with me.

16. What has been the most harrowing time that you have spent at work?

I have been through quite a few harrowing times, the most intense being the time when the market was in a terrible recession. The work was quite slow, and the whole situation was extremely demotivating.

17. How did you cope during that time?

Even though I felt quite low, I would periodically pick myself up emotionally, and convince myself that better days were up ahead. It worked quite well.

18. Tell us of a time when you disagreed with a coworker.

A coworker came to me with a problem regarding a client’s credit history. According to him, it was borderline okay. But I told him that it could mean great trouble for him, especially if the client defaulted. Despite asking for advice, my coworker did not agree with my suggestion and went on with approving the loan. Needless to say, it was quite a disaster.

19. As far as defaulting follow-up is concerned, what had been your prime duty?

Even though defaulting follow-up is not part of my job description, I had been involved in following up with clients who have not paid their dues. In this arena, my work generally includes calling up defaulting clients, providing them with payment reminders, and reminding them of consequences if payment is defaulted for too long.

20. Do you sometimes have to be tough with clients? How does that go?

Being tough with clients is quite ordinary when one is working in a mortgage. In fact, one needs to stop arguments regarding credit histories and financial backbones that don’t add up many times. It does not always go well, as clients are quick to be judgmental. However, I know how to handle adversities, so, I do not have any problems regarding this.

21. What are the three core inherent qualities that one must possess if one wants to work as a mortgage agent?

I believe that integrity, honesty, and sound judgment are three essential inherent qualities that one must possess when working as a mortgage agent.

22. Why do you want to work for our organization particularly?

I have been in awe of your organization for many years, and have also applied for a position 4 times before. This is the first time that I have been called in for an interview. I feel that I now possess the right skills set and experience to effectively contribute to your organization.

23. What would you change about the mortgage industry if given a chance?

Mortgage financing is pretty straightforward. I would change the red tape involved in finally getting mortgage approvals, as I feel that some steps are quite unnecessary.

24. Describe your dream job.

Like most other people, my dream job is one where I can work in a dynamic environment, that provides great opportunities for growth and development.

25. Have you ever held a dream job?

Even though I want to work at a dream job, I know that it is unrealistic to expect one. I haven’t held a dream job, but I have worked in many near-perfect environments.

26. Why do you want to leave your current job?

I am fully saturated in my present place of work, with no chances of going up, and learning more. This is the only reason that I want to leave my current job.

27. How well do you think you will settle into a new job with us?

I believe that I can fit into any position as I am a highly dynamic individual. I feel that I will settle in very well, and contribute in a consistent manner as long as I work for you.

28. What kind of work environment do you like the best?

I like working in an environment that is conducive to learning and growing.

29. Tell me about the toughest decision that you had to make in the last few years.

I was once working on an evaluation project when I came across a client’s portfolio that I had been on my list for many years. But this time, his credit history and financial strength did not add up. I had no choice but to reject his application. It was a tough decision as he was an old client, and it would be quite awkward to work further with him. But I did what was in the best interest of the company.

30. Where do you see yourself in 5 years?

I see myself working as a mortgage specialist within the next 5 years.

31. Do you have any questions for me?

I am interested in knowing more about your mortgage and client assessment procedures.

Leave a Reply

Your email address will not be published. Required fields are marked *