Mortgage Lending

How To Be A Great Loan Officer

If you do this after your loan has closed, most loan officers will be shocked at the question. They won’t know how to answer it. We will! Good lenders are going to treat their clients like friends.

The key on how to become a successful mortgage loan officer is to treat your borrowers the way you want to be treated. Being a mortgage loan officer is unlike any other sales profession This holds true because you need access to all of your borrower’s financial and personal information I manage a team of licensed mortgage loan originators

To be a loan officer, you’ll need at least a high school degree and some experience with math, economics, and business. As a loan officer, you’ll work at a financial institution, like a bank, credit union, or lending company, and help individuals and businesses apply for loans.

Loan officers at smaller shops and independent companies need to self-manage their time, and strive to call out up to 100 contacts a day. When demand for loans is low, it can be really tough. Once a call is successful and a loan officer is able to retrieve a prospective customer’s information, they need to secure financing for their client.

All mortgage loan officers must be licensed as a mortgage loan originator (MLO). This process involves completing 20 hours of required coursework, passing an exam and a credit and background check.

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So we talked to a veteran in the industry, Joe Parsons, a senior loan officer at PFS Funding in Dublin, Calif., to get his advice on the key things.

Loan officers at smaller shops and independent companies need to self-manage their time, and strive to call out up to 100 contacts a day. When demand for loans is low, it can be really tough. Once a call is successful and a loan officer is able to retrieve a prospective customer’s information, they need to secure financing for their client.

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Good loan officer holds Step 1: If you are new to the industry; get a loan officer job at a call center and make sure they offer VA/FHA and Conventional loans. preferably with no overlays. You should earn 25bps -. Before buying a home, shop around for the best mortgage lenders.

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