How To Become A Loan Officer Assistant
To become a loan officer assistant, you will need to have at least a high school diploma or GED certificate. An associate degree in finance may help you stand out in your job search, but it is unnecessary. Your employer should provide adequate on-the-job training to help you fulfill your duties. While this is sometimes an entry-level position, experience in customer service, office administration, or even telephone marketing, can be beneficial. Your primary responsibility is to assist the loan officers with mortgage applications, but you must also call customers and applicants to collect vital information. This requires interpersonal and sales skills.
Match Candidate And Organizational Needs
Its important to determine if candidates will be a good fit for your organization over time. If youre bringing in young talent to be trained as loan officers, what will their route be to promotion? How will you develop them over time? Will the skills you are hiring for today still match your needs if they are later promoted to branch manager? Altruists, for example, are supportive and nurturingand also highly skilled at building team cohesion. They make excellent managers or mentors. Specialists often like to become senior-level subject matter experts. Do give some thought to your talent strategy over the long-term.
What Makes A Good Loan Officer
With the economy looking up, many people are looking towards purchasing a new home this year. It is no secret that one of the most important steps in property purchase involves communication and collaboration with loan officers. Loan officers, or Mortgage Originators, evaluate, authorize, or recommend approval of loan applications for people and businesses.
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First Step In Starting A Career As A Mortgage Loan Officer
The first thing you need to do to start a career as a mortgage loan officer is to get your federal NMLS license.
- Candidates first need to contact NMLS Resource Center and register and get an NMLS number
- The NMLS number is the loan officers permanent license number.
- Candidates will need it to sign up for the 20-hour pre-licensing course which is mandatory for all new mortgage loan originators
- There are actual classrooms as well as online courses for the 20-hour mortgage loan originator pre-licensing course
- Prices vary between $200 to $500 depending on the school and so do schedules
There are schools that offer a three-day course, schools that offers weekends only, schools that offer night courses, and the most popular courses are the online webinars.
Senior Mortgage Loan Officer Lien Release
Revise, enter and/or combine client and account information, such as numerical data, record logs, and research samples for data retrieval information.
- Track and organize received data and source papers for computer entry.
- Process account and customer source documents using the company systems Linx, Boss, AS 400, FileNet, FileNet Capture, IC.
- Generate Warranty Deeds for VA Vendee loans, reinstate Mortgages/Lines of Credit to ensure customer and bank satisfaction and prepare lien releases.
- Communicate with both bank and client attorneys to ensure that all documents related to releasing/reinstating mortgages are prepared in compliance with State/County standards, and in a timely manner to meet customer, attorney or State/County deadlines.
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Member Service Representative Mortgage Loan Officer
Counsel current and prospective members about Navy Federal products and services
- Established and maintain relationships with 13 military recruiting offices
- Report to recruiting offices monthly to conduct financial education presentations
- Analyze and research problems related to member accounts
- Protect Navy Federal’s assets by stopping $75,000 in fraudulent transactions
- Conduct quarterly team fraud training
- Balance daily transactions and verify cash totals
- Detect and resolve discrepancies promptly
Employment Opportunity At Gca Mortgage Group
If you are interested in a career as a loan officer with GCA Mortgage Group, please contact us at Gustan Cho Associates at 262-716-8151 or text us for a faster response. Or email us at
- Gustan Cho Associates is headquartered in Lombard, Illinois is a national mortgage banking firm licensed in multiple states with a five-star national reputation
- We are aggressively hiring both experienced mortgage loan originators and select mortgage loan officer recruits.
- We are looking for quality and not the number of loan officers
- Candidates with at least one-year full-time loan origination experience and are a self-starter have come to the right place.
We have remote loan officer positions available nationwide for those who have at least one year of experience in full-time loan origination.
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Senior Hecm Reverse Mortgage Loan Officer
Prospected and originated loans for Fannie Mae, Freddie Mac, FHA and VA.
- Worked with senior citizens to help them navigate and obtain a reverse mortgage until the division closed at Wells Fargo nationally.
- Oversaw approximately 200 team members’ loan officers, processors and closers and managed all of the pricing, pre-approvals and RESPA, title and appraisal
- Functioned well under high speed position that required extreme knowledge of compliance, pricing and guidelines.
- Provided immediate action with accuracy.
- Managed all accounts and provided excellent customer service to consumers and team members.
Consider Automated Marketing Strategies
When it comes to loan officer marketing, automation is the great equalizer. Not only does it take some of the responsibility off of your plate, but its also the perfect tool for nurture and acquisition. In fact, 51 percent of top-performing companies use marketing automation for customer retention.
Automation can be used in a variety of ways: content, email, social sharing you name it. Theres no better way to save time and money while improving marketing efficiency.
Try this: Automating marketing saves you time and effort. Look for to help take this time-consuming task off your plate.
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Three Different Styles Of Recruitingto Suit Your Needs And Budget
We offer several different packages that depend on your budget, style and if youd like to be hands on or hands off. No matter which option you choose, you can be sure that youll be gaining a mortgage specific recruiter, that knows the business, will treat you like a partner and knows how to find the top talent in the mortgage industry. Besides traditional recruiting methods, EMA also uses the power of marketing to attract passive candidates that may not be looking for a job. A brief review of our 3 different options are below:
What Does A Mortgage Loan Officer Do
Mortgage loan officers focus exclusively on real estate loans for individuals and businesses. They usually work for mortgage brokers, commercial banks, credit unions, or mortgage companies. They often work in an office and travel to meet potential borrowers.
The day-to-day duties of a mortgage loan officer include:
- Developing relationships with real estate companies
- Assessing potential borrowers credit
- Discussing loan options with potential borrowers
- Ensuring that loan agreements adhere to state and federal regulations
- Keeping records of loan applications and mortgage transactions
- Coordinating with underwriters to determine potential borrower risks
- Working with appraisers to obtain an accurate market value for a property
Check out Monsters mortgage loan officer job description to learn more about what employers look for when hiring for this role.
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How Long Does It Take To Become A Mortgage Loan Officer
It depends on your level of education and experience. If you dont have an undergraduate degree or any banking experience, youll need to hit the books for about four years to obtain a bachelors degree.
If you choose not to pursue a bachelors degree, you can spend about two to five years working for a financial institution, honing your skills, learning about the industry, and building relationships with your network.
Even after youve completed your education or gained years of work experience, it can take several weeks or months to become licensed. The amount of time it takes to get licensed depends on whether you pass the NMLS exam with a score of 75% or higher. If you dont pass, you have to wait 30 days to retake the exam. If you score under 75% three consecutive times, you have to wait 180 days to retake the test.
Skills To Look For In A Great Loan Officer
Loan officers are the credit health checker of companies. They ensure loans get approved to the right applicant with minimum repayment risk. A great loan officer candidate will have training, qualifications and experience that reflect these top loan officer skills and qualifications:
- A bachelors degree in finance, accounting or a related field
- Demonstrated experience as a loan officer or similar role
- Familiarity and working knowledge of banking and financial software applications
- Strong understanding of lending practices and products across the industry
- Customer focused with strong sales acumen
- Effective communication and interpersonal skills
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How Mortgage Industry Recruitment Has Changed In The Pandemic
The latest iteration of American Mortgage Network began originating loans in 2020, but the rate-driven wave of loan applications left the company at an inflection point.
Seeking to keep loans moving through the underwriting process, while trying to fill its back office staff out during a period when every lender was hiring for that kind of talent, the Chula Vista, Calif.-based lender did one other thing.
“We’ve kind of managed through this by not growing the sales staff. I’ve haven’t recruited a loan officer in nine months,” CEO and President Joseph S. Restivo said in mid-December. “I’ve wanted to, but I have to make sure our turn times stay good.”
Some would argue against that approach. While companies may not be hiring because they are too busy or not busy enough, they also can’t afford to stop recruiting, said Bill Cosgrove, owner and CEO of Union Home Mortgage.
We think it’s a scale game and you’ve got to be continually growing and looking for talent,” he said, adding that approximately 85% of the Strongsville, Ohio-based companys recruiting efforts are focused on cultivating internal candidates.
Processor headcount increased 51% year-over-year in 2020, but that didn’t keep up with the workload. These staffers had to handle 99% more loan files in the fourth quarter compared with one year prior, said Lori Brewer, the CEO of LBA Ware, a provider of incentive compensation management technology for the mortgage industry.
Build Meaningful Relationships With Your Loan Officers
Spending quality time with your loan officers will be easier once youve hired them, but the impact of that time is too great not to mention. Whether its making time for lunch, or tagging along for their continuing education courses, finding creative ways to encourage comradery can have lasting positive results for your business.
As you begin to build out your team, your current loan officers will become your strongest asset in recruiting new ones. Why? Loan officers know loan officers. They bump shoulders at events, compete for clients, and tend to follow each other on social media platforms.
If your loan officers cant stop gushing about your business growth and how awesome the work culture is, their peers will start to take notice. Youll become an attractive destination for top talent looking to make a change, and all youll need to do is close the deal.
Are you thinking about starting your own mortgage company? Contact us at 1-800-229-6342 or for loan officer hiring tips and more to get started as an independent mortgage broker.
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How Do I Get Clients
The products we deal with are in demand. Gustan Cho Associates is a full-service mortgage banking company with a reputation of getting loans closed and getting home loans closed on time.
- We are licensed to originate and fund FHA Loans, VA Loans, USDA Loans, Conventional Loans, Jumbo Loans, Reverse Mortgages, FHA 203k Loans, Non-Warrantable Condominium Loans, and Non-Conforming Loans
- A new loan officer does not need to cold call
- We will provide borrowers to every new loan officer recruit
- With every new borrower, the new loan officer recruit gets, the loan officer will come into contact with the home buyers realtor, home sellers realtor, home buyers attorney, home sellers attorney, and other professionals
- All of these new contacts can be future referral partners for the new loan officer
- The borrower who just closes their loan with the new loan officer will also give friends and relatives as referrals
- As time passes and the new loan officer does more and more closings, the loan officers name will get branded and the loan officer will develop a reputation
- Our offices will help every single loan officer recruit with marketing and business development
- You do not have to worry about getting started and making money with our team
We are aggressively recruiting hard-working folks who are looking to starting a career as a mortgage loan officer nationwide. Please contact us at Gustan Cho Associates at 262-716-8151 or text us for a faster response. Or email us at
Most Common Reference Profiles For Bdrs
Over the years, employers have created approximately one million Job Targets in our system. When we look at the Job Targets 922 different people set for the loan officer role, we see the same three Reference Profiles again and again.
Here are the three most common Reference Profiles managers look for when hiring loan officers:
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Create Video Email Campaigns
Maintaining relationships with those in your sphere of influence is an essential part of a good loan officer marketing strategy. And creating video email campaigns can help you do this.
A video email campaign provides value to people during a specific time in their lives like over a holiday or long weekend. The key to a good campaign is to focus exclusively on providing relevant information others can actually use .
So what are some good video email campaign ideas?
Hiking Around : The top five family-friendly hikes for you to take this spring! Happy Fourth of July, : The best spots for fireworks and how to get around town on the big day! Take-Out in : Hidden gems around town offering the best take-out this weekend.
It Only Takes A Stroke Of Your Pen To Get Someone On Their Way To Purchasing Their First Home Or Business Space
A bachelors degree isn’t always necessary to be a mortgage loan officer.
A mortgage isnt just a financial loan. It gives a family a home, a restaurant owner a space to serve up their favorite recipes, and a small business owner a place to bring their vision to life. Very few people can pay for real estate property out-of-pocket. As a mortgage loan officer, it only takes a stroke of your pen to get someone on their way to purchasing real estate. If you think youre the person for the job, learn how to become a mortgage loan officer.
While many people are involved in the loan process, mortgage loan officers are a key part of the mortgage industry. Theyre the ones who initiate fee-based mortgage loans that generate revenue for financial institutions and help borrowers get the funding they need. Mortgage loan officers enjoy flexible schedules, lucrative pay, and a steady demand for their services.
If a career as a mortgage loan officer interests you, Monster can help you seize the opportunity. Read on to find out how to become a mortgage loan officer.
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Recruiting Loan Officers: Four Keys To Attracting Top Talent
A major differentiator between successful mortgage companies who have established consistent growth patterns and positioned themselves for the future and their counterparts who struggle, is the ability to recruit and retain top talent. But the disparity extends beyond a recruitingsystem – deep into the fiber of a company.
There are two types of companies in the mortgage industry today: Those who are looking into and positioning themselves for the future and those striving to get by in the here and now. Forward-thinking mortgage companies are focused on where the financing and real estate aspects of the industry are going and they are committed to finding and implementing the best systems and technologies available to stay relevant as market conditions and consumer trends change. The other type of company is caught up in “playing the today game,” and makes decisions regarding set-up, technology and processes from this limited mindset. What type of company would you like to join?
Clean Up Your Online Presence
When we say online presence, its more than making sure you have appropriate posts on Facebook and Twitter. This means your website, social profiles, business listings and online reviews need to be reviewed.
First of all, make sure your information is up to date across the board. Why risk losing business because you havent updated something as simple as a phone number?
Next, focus on the customer experience. Have you kept your branding consistent across profiles? Is it easy for customers to recognize your business? Are you accessible on all appropriate channels?
What youre really looking for here is accuracy, consistency, and ease of use. Nail those concepts, and youll increase engagement.
Try this: Use our handy checklist and tackle one site a day . Before you know it your accounts will be in tip-top shape.
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Make 2019 Better Than Last Year
We hope these marketing ideas for mortgage loan officers in 2019 will help make you work more efficiently and more effective. But if you find youre short on time, dont be afraid to ask for help. Mortgage marketing automation is what we do. Let us help you find the best possible strategy for your business in the new year and beyond.