The mortgage industry moves at the speed of light, and brokers need to keep up with the unrelenting pace. If they enter the race unprepared, mortgage loan originators will stay mediocre, never getting ahead in their field. Who would seek out the services of a so-so broker when they could partner with the best?
Here’s the question of the day: What qualities turn good mortgage loan originators into great ones? Today we’re going to focus on five things you can do to start your journey as a mortgage loan originator on the right foot or boost a sagging career.
Always be a student.
Did you think your days as a student were over? Think again! You might not be in a traditional classroom, but learning takes place on the job too. The mortgage industry is notorious for changing the rules on a dime. In-the-know mortgage brokers earn their clients’ trust. So, attend that seminar, read that industry publication and network with senior mortgage loan originators. You’ll be glad you did!
Know your market.
Your lessons don’t stop with industry happenings. You can become a valuable resource to your clients if you understand the local market. The massive, national lenders can’t bring this local knowledge to the table, but you can, so use it!
Know your lenders.
Take the time to get acquainted with your lenders. When you know your lenders’ processes and requirements, it speeds up your closings. We all know that quick closings equal happy borrowers. Happy borrowers will get your name out in your community.
Hone your communication skills.
As a mortgage loan originator, you are a liaison between borrowers and lenders. Unfortunately, neither group specializes in mind-reading! The mortgage application process is complicated, but you can ease some of the difficulty with effective communication. If communication isn’t your strong suit, workshops exist that might help you improve your skills.
Stay one step ahead of the game.
If you take a proactive approach to your job, you have the power to shorten the mortgage process by several days. Don’t wait for information and paperwork to come your way. You might end up waiting a long time! Use your newfound communication skills (see above) to get what you need to move the mortgage along.
Does the mortgage industry sound like the right fit for you? Contact MortgageDepot today to learn what it’s like to be a part of our team!
Contact us via email at Careers at MortgageDepot.com to learn how to join our team.