College optional

So what kind of jobs are available at Countrywide Financial Corp. as it hires 2,000 new sales people in mortgage, and fills thousands of other openings company wide (see Inman News story)?

CountrywideCareers.com lists 9,648 openings (although a spokesman told me the company doesn’t intend to fill them all). Countrywide's also advertising more than 1,000 openings on Yahoo! HotJobs, which I’ll use because they’re easier to link to.

If you have a high school diploma or GED, and one or more years of experience "including at least 6 months experience in a high-volume, customer-service environment" you may be able to land this job at the company’s Plano, Texas call center, "finding solutions for customers who are encountering temporary financial difficulties, resolving customer issues by identifying reasons for default and establishing promises to pay," and "collecting mortgage payments, outstanding fees and corporate advances."

A "high school diploma, GED or equivalent" is all that's required to work as a Countrywide loan specialist in Forest Hills, N.Y., although three years of experience in mortgage lending in finance is a prerequisite, and the "ideal candidate" will have an associate's degree or completed some college coursework in mortgage lending. The job entails making sure loans are processed in accordance with Truth-in-Lending rules, drawing up closing documents, and coordinating disbursement of funds.

To work as a home loan consultant in Newark, Del., you'll need 5 years of experience in mortgage banking, and 3 years originating residential home loans. But a high school diploma or GED is OK for "advising potential borrowers regarding appropriate loan programs and processes" and "assisting in preparing and participating in realtor/broker/builder functions—including open houses and conventions."

Other lenders also seem to be willing to give you a foot in the door without a degree. To work in outside sales at Quality Life Reverse Mortgage, you should "enjoy dealing with and helping senior citizens" and have your own computer, car, and cell phone. But there's no mention of any educational requirements.

The first listed requirement for employment as a mortgage consultant at Citigroup's CitiMortgage office in St. Louis, Mo. is the "Ability to sell CitiMortgage products." You must also possess solid math and analytical aptitude and be able to work flexible shifts. One to two years in mortgage sales or finance is "desired" but not required.

A college degree doesn't guarantee that its bearer is smart, ethical or even competent. And there's no reason people who don't have college degrees can't be trained to accomplish these jobs. Pay enough, and you will attract quality workers.

But I guess it's a still a little surprising to think that many of those involved in helping people make what may be the biggest investment decision they'll ever face may only have a high school education -- if that.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.