| Well here they are... 10 mortgage loan
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| | place a copier close to your assistant's
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| officer training tips to improve
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| | desk, and have your computer printer
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| efficiency and increase revenue. These
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| | right next to your desk. This will save
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| tips have made me hundreds of thousands
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| | loads of time walking around the office.
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| of dollars over the years and I'm
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| | It will also keep your assistants
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| confident they will do the same for
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| | focused. Sometimes it's hard to walk
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| you:Mortgage Loan Officer Training Tip
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| | through an office without falling into
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| #1:
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| | several casual conversations that can
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| Only use a few lenders
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| | lower your team's production. Mortgage
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| Depending on your niche, all you really
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| | Loan Officer Training Tip #7:
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| need is a few good lenders. With a
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| | Get all documentation up front
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| portfolio of about five lenders, you can
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| | I believe in getting every piece of
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| handle all credit grades and even special
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| | documentation I could possibly need right
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| programs like stated, no doc and 100%
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| | up front. That way if a problem arises
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| financing.Mortgage Loan Officer Training
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| | you have a greater chance of being able
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| Tip #2:
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| | to fix the problem on your own without
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| Read your lender's guidelines to build
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| | bothering the borrowers. Mortgage Loan
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| an intimate knowledge of their products
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| | Officer Training Tip #8:
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| and procedures - THIS IS A MUST!!! (And
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| | Only the necessities
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| easy to do if you only use a few
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| | Just because you collect extra
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| lenders.) Don't rely on lender reps to
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| | documentation, doesn't mean you have to
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| tell you about their guidelines. They
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| | use it. Don't submit extra paperwork to
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| are human and can make mistakes just like
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| | your processor or to underwriting. It
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| the rest of us. Mortgage Loan Officer
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| | could open a can of worms you don't want
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| Training Tip #3:
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| | opened. Only turn in exactly what's need
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| Send gifts to your appraiser, title
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| | to fund the loan - nothing more or less.
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| agents, and underwriters to gain favor.
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| | Mortgage Loan Officer Training Tip #9:
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| This is a great way to build
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| | Sandwich technique
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| relationships with the people you rely on
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| | At some point you'll need to contact a
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| to do business. Look for a reason to
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| | borrower during the loan process and ask
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| send these people a thank you card along
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| | for more information. When this
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| with a gift. This is another good reason
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| | situation arises, try using the sandwich
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| to use only a few good lenders. Mortgage
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| | technique:Re-establish rapport
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| Loan Officer Training Tip #4:
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| | Make your request: "Oh by the way I
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| Define your market
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| | need___. When can you fax it to me?"
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| What loans will you do and what loans
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| | Continue rapport building dialog.
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| will you not touch? You can and will
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| | Say goodbye and politely get off the
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| cause yourself undue heartache if you
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| | phone.If you have a difficult borrower,
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| agree to take a loan that is outside of
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| | this works like a charm to diminish their
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| your market. For instance, I refused to
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| | anxiety level. Mortgage Loan Officer
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| even look at a loan unless the borrowers
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| | Training Tip #10:
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| had a credit score of 580 or higher. If
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| | Testimonials
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| an applicant has a credit score less than
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| | Get testimonials from everyone. They
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| 580, I referred them to my loan officer
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| | are great marketing tools for your
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| partner and split the commissions.
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| | business. Use them to target your
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| Mortgage Loan Officer Training Tip #5:
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| | client's CPA, HR manager at work, real
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| Specialize
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| | estate agent and financial planner to
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| Find a niche. Specialists always make
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| | establish a referral relationship.There
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| more than generalists. Everyone does
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| | you have it. Incorporate these ideas
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| purchase loans on single family houses.
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| | into your mortgage business and see how
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| What if you became the expert in your
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| | they impact your bottom line.By the way,
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| area on financing investment properties,
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| | if you would like to get another 13
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| construction loans, or VA loans? With
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| | mortgage loan officer training tips that
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| some work and dedication you could become
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| | can instantly boost your income by $5,000
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| the mortgage lending "guru" for your
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| | per month, visit: feel free to reprint
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| niche and monopolize your marketplace.
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| | this article as long as the resource box
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| Mortgage Loan Officer Training Tip #6:
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| | is left intact and all links are
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| Location, location, location
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| | hyperlinked.
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| If you can: Keep a frig in your office,
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