3 Things Loan Officers Should Consider When Choosing a Workplace

 
Many employers are wrestling with “The Great Resignation,” seeing valued employees leave their current positions in pursuit of other opportunities. The reasons for these departures are varied – ranging from inadequate compensation and benefits to the desire for more flexibility or a better overall work environment. In the mortgage industry, loan officers are also seeking roles where they can make a real difference in the lives of their customers while being employed by companies that “get it” – lenders that value their contributions and set them up for success.

If you’re a loan officer who is considering a move to advance your career and improve the quality of your work life, here are three things you should closely evaluate as you size up the opportunities that come your way:


1.  Culture

You can get a sense of a company’s culture in a variety of ways. As you move through the interview process and interact with people, ask about the firm’s values to see how clearly and consistently they are articulated. Are they outlined on the company’s website? Do you see those values listed in the company’s sales collateral?

It’s also important to understand the kind of work environment the firm cultivates. Ask about employee turnover. If it isn’t low, consider that a warning signal. Ideally, you should look for a lender that fosters a family-type of environment where everyone is supported and encouraged.

In the end, it’s about placing yourself within an atmosphere of excellence – be it working from home with the support of technology, tools and established processes that enable a successful remote work experience or working in an office setting where established expectations and performance standards drive the culture toward excellence.


2.  Customer Focus


Successful loan officers know that only by putting customers’ interests first can a lending organization thrive. So be sure to ask about the ways in which the company responds to borrowers’ needs. Are there tools in place to help those who are credit challenged? Are the loan products flexible and diverse enough to appeal to all sorts of customers?

Ask about turn times and whether the firm measures customer satisfaction. Companies that make it a priority to operate empathetically, and consistently deliver loans on time, as promised, are bound to have happy customers and that, in turn, makes happy employees.


3. Sales Tools & Technology


The mortgage industry is finally adopting the tools and technology it needs to make the process easier for everyone involved. Having easy access to them should be one of your top requirements. If a lender is still using tools that are antiquated by today’s standards, hamper accuracy or slow the process down, you should seriously question whether you can be successful there – especially when competing lenders are offering modern technologies that enhance the borrowing experience.

 That said, it is also important to look for a lending organization that prioritizes providing the human touch. Mortgage lending can be very complicated, and some consumers simply aren’t tech savvy. There is no substitute for personal interaction, especially when people are preparing to make the largest investment of the lives. So, technology, while important, should never replace direct human communication whenever and wherever it is desired.

As you pursue opportunities to advance your career as a loan officer, be sure to keep the company’s culture, its customer-focus and the tools and technologies it makes available top of mind as they are indicative of a quality organization and essential to your future success.

 


* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.