Most Loan Officers are Confused about this… are you?

If the mortgage industry was only about loans, then underwriters would be consumer facing, not Loan Officers. 

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Think about this: most Loan Officers’ compensation is fully on commissionable income. 

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It’s standard industry knowledge that Loan Officers are really salespeople first that are looking to increase their pipelines for more business. 

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If the consumer wants the best loan technician, why not just go straight to the salaried underwriter that also has authority to make credit decisions?

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“So, what’s your point, Amir?”

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The point is that most Loan Officers are confused about their true role in the marketplace. 

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Most think being a great loan technician will get them to earn more money in less time, which if we’re being blunt: every Loan Officer wants that. 

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Yes, it’s important for a good Loan Officer to understand their products, programs and housing economics to best serve consumers, but the owners of the largest independently owned mortgage banks (and even some publicly traded mortgage companies) are not the best loan technicians. 

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They are the best sellers and scalers - the best businesspeople. 

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Some of the highest earning Loan Officers, who also work 40 or hours a week or less, have great personal production support staff and multiple Loan Officers underneath them. 

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They are excellent recruiters and retainers of people. 

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The best Loan Officers study prospects first, products second.  

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In 2012, I had ZERO leads, prospects, customers, referral partners, and staff. 

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By 2015, I funded $50M in loan volume, all organically (zero paid traffic) with two full-time personal production support staff, with 97% being purchase business. 

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…and I didn’t, and still do not, know how to run DU/LP or even calculate income. 

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I hired the best “Loan Partner II”, a proficient Loan Processor with a personality who handled all my pre-approval to funding functions. 

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My full focus was to recruit as many Realtors, Financial Advisors and other “gateway partners” to refer me every single week. 

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I was, am, and will continue to be an ardent student of marketing, sales and operational mastery. 

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So, my dearest Loan Officer friends: if your ultimate goal is to grow your business and become a top producer…

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Here are today’s action steps:

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Shift your mindset: Understand that you are a salesperson first and foremost. Embrace the fact that your success depends on your ability to generate leads, nurture relationships, and close deals.

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Evaluate what you need: Are you lacking that support team who will help facilitate your growth? Or to get even deeper…are you lacking the skills to be an effective and successful closer?

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Invest in your growth: Whether that’s learning the art of selling, marketing strategies, and effective communication or scaling a whole team, take that step and invest in your future success. 

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