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