Forming strong business relationships with a loan officer
takes time and effort. These relationships are central to your performance and success and should never be under estimated or taken for granted. When it comes to choosing a lender or lenders, you want to look beyond just interest rates and product selection. Your clients are valuable and sharing them with a lender that can’t deliver puts future referrals
at risk. Here’s a list of must have’s.
• Offers comprehensive mortgage products to the meet the unique needs of a wide variety of customers
• Is able to offer competitive rates
• Offers affordable closing costs
• Processes loans in-house where possible
• Offers a fast and reliable mortgage application process
• Has the technology and technical support available for both online and mobile platforms
• Offers marketing assistance to support co-branding efforts
The Loan Officer
• Works hard and can qualify borrowers quickly but doesn’t set unrealistic expectations
• Has proven successful experience and good rapport with past customers
• Can validate property information
• Has a system in place for communicating and following up promptly
• Has suitable alternatives should things go wrong during the loan approval process
• Is a team player within their organization in order to better monitor internal workflow
• Is willing to take whatever time is necessary to explain loan programs, required documentation deadlines, disclosures, costs etc. to your client
• Able to mitigate difficult situations and still be your team player
• Is mutually supportive in dealing with your clients
• Has a strong social media presence and is willing to share content
You want to look for a lender and loan officer that you’re comfortable with as well as understanding what you expect. While experience is important, you should be willing to give a lender and loan officer a chance to prove themselves when the situation allows. You should also have one or two lenders that you can fall back on when your existing lender is unable to handle your business during particularly busy periods. Lastly, it’s critical that both you and the loan officers you work with understand and appreciate the reciprocal nature of the business you share. Solid business relationships are built on trust and reliability. Referrals should follow.
Need help choosing the right lender?
If you want to ensure your client is choosing the right lender, include Embrace Home Loans® in your recommendations. Reach out to an Embrace® office in your area
to learn more about product offerings and how we can serve your clients.