You’ve Chosen a Career. Now Do Your Best
Career advancement and happiness can be found with the proper training.
During most people’s lives they want to be living and working in peace or happiness. You may find yourself beginning your career in one direction only to discover that another path taken was the best choice.
In your current job, are you miserable or do you have a sense of accomplishing something big. The answer is simple if you are honest about it.
People within the mortgage business are encouraged to grow and seek advancement opportunities no matter your goals and range of abilities. There are 1000s of success stories for those who make the most of their opportunities, especially the ones who adopt job-advancement and goal-setting best practices.
When considering your career options, remember to visualize and set your goals. Be committed to them and you are on your way to success.
Something that many mortgage- industry professionals who love their careers share is a motivation to raise their standard of living for themselves and their families. On the other hand, those companies that show persistent success in employee job satisfaction depend a great deal on excellent training.
How does this help you in your mortgage career? This suggests you need to find companies that show you the value they put on their people. Effective and targeted training, mentoring and responsibility each can provide a quantifiable effect on career success.
Statistically speaking, the average loan originator is 54 years old. With this in mind, it is important that the industry hire younger people, with a recruiting plan to train the next generation.
You want these new recruits to hit the ground running. A next-generation training program may include a one or two month-long program that offers them a brief yet thorough overview of the career as a mortgage originator. Typically, it should include:
- Software. Share what to expect with the loan origination / processing program your company uses such as Encompass, Calyx or a proprietary custom program.
- Loan programs and guidelines. Present a summary of Fannie Mae, Freddie Mac, Ginnie Mae, Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and U.S. Department of Agriculture (USDA) loan programs.
- Qualifying and calculating rates. Show new originators how to qualify prospective borrowers and calculate rates, and talk about the purpose of the secondary market.
- Loan terminology. Go over mortgage jargon.
- Origination from start to finish. Explain the roles loan processors, underwriters, appraisers, title and escrow companies.
- Disclosures and compliance. Describe the federal, state and company rules that have to be followed.
- Marketing strategies and growing your business. Offering originators the tools to succeed will go a long way.
Learn Good Habits
By providing a regimen and framework for new originators to work within, companies can show their personnel how to use their time smartly. Having said that, thinking outside-the-box can in combination with a successful regimen may bring even better results and productivity.
Keep Advancing
Whether you are in charge of an entire company, a branch, or a small group, or even only yourself, it is important to keep achieving new heights, because complacency and mediocrity is not why you are in this industry.
You never want to quit learning, developing and achieving. Embrace challenges and problems by solving them, borrowers and referral partners will appreciate you more and see that you helped them beyond their expectations.
To summarize, envision who you want to be and become that person. Work and have people around you who encourage and support your vision, those who you can grow with. Remember, goals that are unwritten are simply dreams, so recognize what you want and go get it. Choose your career path wisely so you find the joy in your life.