Becoming a Mortgage Originator
You did it. You received a passing grade on the NMLS test, your background check, and fingerprinting. Well done. Give yourself a pat on the back and high five your pets on their paws!
Now it’s up to you to lift your career to new heights in the mortgage industry. It’s time to go out and provide your trusted advice and experience as a licensed loan officer.
In general, the real estate industry is a fast-paced world with lots of opportunity for growth, and with that comes large responsibility. Now you need to know what is required to succeed in a highly competitive and fulfilling industry. Let’s not waste time anymore and check out the typical day of a successful loan originator.
Organizing Your Day to Match Your Personality
Each loan originator plans out their daily work schedule in differently. This means there is a lot of flexibility similar to a real estate agent. Your day or week can be planned in multiple ways and different start times in order to be successful.
Some people are early-birds while others start later and work later hours. You can do the 8-5, 9-6, 10-7 or even longer hours. It all depends on your energy level and how you plan your days.
While the flexibility is one of the benefits of being a loan officer, it’s important to be aware that every successful loan originator schedules their hours in advance which includes appointments, meetings, presentations, phone calls and so on.
It’s bound to happen that various issues will arise sometimes that you need to deal with right away, but creating and following your schedule is a tried and true technique for success.
Daily Responsibilities You Will Typically Have?
• Prospecting for new clients through phone calls, emails, in-person contacts, websites, internet advertising networking events, CPAs, lawyers, community events, and personal gatherings. The more you search for potential clients and grow your network, the greater possibility of referrals and successful closings.
• Qualifying potential borrowers by phone, email, or in-person at your office or their home/office.
• Discussing a customer’s objectives for buying a home, their credit score, financial assets, financing options, and anything else throughout the process to close the transaction.
• Staying in touch with your borrowers, loan processors, title companies, lenders and other vendors to take care of their requirements and requests to make sure of an on-time closing to keep all parties involved satisfied.
• Be available or attend closings and congratulate your clients on the joy of becoming a new homeowner. Believe me it’s a wonderful feeling to see the smile on their face.
• In order to continue with offering a valuable service to clients, continuing education is required to maintain your state or federal licensing. Continuing education courses typically cover market trends, how to analyze financial data, privacy procedures for your clients, laws and regulations, qualifying borrowers, and much more.
• Increasing your skills on a consistent basis and daily. Staying alert of and learning new technology that can make the loan process easier. Enroll in marketing, professional, and business development classes that range from marketing, and referral partner building, and a great deal more.
If all of this sounds like an exciting opportunity, then we want to talk with you about something special. 1st Nationwide Mortgage is your source for mortgage loans in Arizona, California, Colorado, Florida, Idaho, Oregon, Texas, Virginia, and Washington. Our goal is to be the best at what we do. No matter if you’re just beginning or an experienced mortgage loan originator, we welcome you so we can work together for success. Don’t hesitate to contact us.