Loan Officer Training - Here’s A Strategy For Loan Officers - Don’t Do Everything
How many times have you heard ads on the radio or television, “I’m a Loan Officer that does everything; good credit, bad credit, FHA, 100% financing, bla-bla.”
If that an accurate statement? Sure it is. Does that set you apart from the average Loan Officer or Mortgage Broker? Nope, it doesn’t. Almost EVERY ad you hear/see say those similar words. Think about it, when you were NOT part of the mortgage business, did you pay attention to those ads? Probably not. Do you think the average borrower can tell one Mortgage Company from the next? Probably not. Get my point?
What I’m saying is get focused on one thing. If you want to concentrate on sub prime, go for it. If you want to focus on FHA, then do it. If the Option Arm is your gig, then learn it well (that happens to be mine). There is no right or wrong product, but stick with one and learn it well.
After you feel you have one (we’ll call it discipline) mattered, learn another until you have that down as well. Then go on. Brand yourself by really getting the “nitty gritty” of one product down, then go for another. Become the FHA specialist in your officer. Be the LO others turn to when they need info on the Option Arm. Do You get where I’m coming from?
If you try to be all things to everyone, you may eventually succeed in them all, but that’s going about it the hard way. If you’re a Loan Officer that works in an office with other LO’s, there will be a few that are specialists at something, learn to piggy back with them while you’re learning another product. You will be surprised how that kind of teamwork will pay off in the end.
And now I would like to invite you to get “Mortgage Info With An Attitude” with Free weekly answers about the mortgage business in the Mortgage Mailbag. As a Bonus, you’ll receive the Special Report “The 5 Biggest Myths about the Pay Option Arm and the Real Truth About Them”. You can access this free service and the bonus at http://www.MortgageMailbag.com