Quality or Quantity? Which one is most important?
Welcome today 16 of 21 Days to Better Loan Processing.
Today’s Topic is Making the Choice for Quality or Quantity.
I used to be a mighty multi-tasker. Teaching. Attending conferences. Working with builders, realtors and title companies. I was always working on multiple projects. I was the queen of “get ‘er done!”. I did the work of a small army. It seemed like a good plan for productivity. But after a while, I begin to function like an overloaded computer that needed to be cleaned and defragged. I went from feeling a little tired to experiencing complete exhaustion. Soon, my body began to talk to me. A headache here. A cold there. Then came the chest pains. In a period of a few short years, I went from feeling healthy to having more Fred Sanford moments than I care to remember. I was sure I was having The BIG One…going to join my love ones. Each time I was hospitalized, the diagnosis was STRESS.
Not only was multitasking not working for me, it took me off my game and left Complete Mortgage Processing in a very vulnerable space. While I was multi-tasking, someone came in like a thief in the night and stole what had become the cornerstone (the lifeline) of Complete Mortgage Processing. We consulted an attorney right away. What happened next was out of this world. The thief blew off our attorney and then dared us…yes DARED us to prove it was Complete (more…)
Understanding Your Role as a Mortgage Professional
Clarifying your role and responsibilities as a mortgage professional is an absolute necessity for you to be effective. When team members forego this step, it can become an area of conflict during times of heavy volume. If time is spent battling about “who should be responsible for what” very little gets accomplished in a timely manner. Ultimately, deadlines are missed and client satisfaction plummets.
In most offices, there is a clear distinction between what is considered to be a loan officer function and what is considered a function of the loan processor. If this is the case in your office, then you are in good shape. If you work in a place where the lines seemed to be blurred, here are a few tasks that you will want to have clearly defined: (more…)
Read it or watch it on YouTube...
Just the thought of working with a loan processor makes some mortgage professionals cringe. Let’s face it, for a variety of reasons, loan processors have gotten a bad rap. If you happen to be one of those folks who is just determined to make it without a loan processor, stay tuned for a few survival tips that may make your life a whole lot easier.
While it may be more challenging (and a lot less profitable) to function without the help of a loan processor, it is possible to do so. Here are a few things to keep in mind if you decide to go that route:
1. Learn Loan Processing and Underwriting – If you don’t want to work with a loan processor you’d better know your stuff! We are not talking about knowing the basics here. You need to have in-depth knowledge about loan processing and underwriting. The two most important things to know about processing and underwriting are a) how to validate information quickly and b) how to clear underwriting conditions without getting more conditions added on. If you don’t have the time to learn the ropes through hands on experience, you may want to find a class like our Loan Processing Solutions course to help you bridge the knowledge gap. (more…)
To be a victim or a victor? That's the real question! Your answer to that question will determine how likely you are to excel or fail at mortgage loan processing.
Welcome today 15 of 21 Days to Better Loan Processing.
In our work to improve the operations of thousands of mortgage professionals over the years, we discovered that it is the loan processor on the team that is usually the most stressed out and unhappy. Loan processors know that they are the driving force behind a production engine that is moving at tremendous speed. They also know that everything they do impacts multiple departments and many lives. With huge responsibility on their shoulders, they press on day after day. They often do so without appreciation or recognition for the essential contribution they make to the company’s bottom line. Maybe you know someone living this experience. Maybe, just maybe, it's you...
Hi I'm Stephanie Graham, the loan processing peak performance coach at CompleteMortgageProcessing.com. I've worked in the financial services industry for more than three decades on both the retail and wholesale side. I've made contribution to the industry by serving in many capacities including branch manager, district manager, loan officer, senior loan processor, underwriter, contract processor, educator and more. As co-founder of Complete Mortgage Processing.com, I took the lead in developing the industry’s first comprehensive training for in-house and contract loan processors. Since that time, our training workbook Loan Processor in a Box has helped more than 3,000 industry professionals. Our comprehensive training program Loan Processing Solutions that was originally developed for and taught at College of Southern Nevada and is now available online in an expanded format. If you or someone you know are facing frustration and overwhelm with loan processing, the tips that follow just may help. And if you actually need to develop or improve your loan processing skills, before I’m done, I promise to share you a few options for getting the help you want.
Let’s get back to our topic: Taking a pause so you can perform at peak levels. Most loan processors have more love for the industry than disdain. They know that the industry has its ups and downs so they place the greatest value on their ability to help others. In this lesson I will provide 3 quick tips on how you can be efficient, productive and happy (more…)
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