The Empowered Loan Originator: 4 Ways to Close More Loans

An image showing hot-air balloons flying high, like loan originators after reading this blog.

Whether you’re just starting in the mortgage industry or you’ve been working as a loan originator for decades, there are tools available that can help you maximize your productivity and, ultimately, close more loans. 

Gaining clients, building relationships, and gathering information in your own knowledge bank are all necessary to grow your business. As the saying goes, If you’re not growing, you’re dying. 

Here are four ways to make sure you’re not only staying alive—but thriving as a loan originator. 

Make connections.

A recent article by Embrace Home Loans highlights national and professional networks that loan originators can join, either in person or via LinkedIn. If you’ve been sending marketing emails and using social media to build your network, putting a face to a name in a physical setting is a great way to turn an online connection into a valuable relationship. 

Connecting with other mortgage industry professionals is an easy and affordable way to build helpful connections and referrals. So, discover the networking opportunities for your area of expertise, show up, and press the flesh! 

Meet other lenders, find a mentor, or, better yet, become a mentor. Build relationships with local real estate agents, home inspectors, and others in the mortgage industry. The more connections you have, the more you learn, and the higher the chances you’ll close more loans. 

Continue to learn. 

While we wouldn’t necessarily recommend going out and buying 2,000 new books like Tai Lopez, we do think there is truth to his proverb: “The more you learn, the more you earn.” Reading up on new approaches to selling loans, or getting refreshers on fundamentals you learned a few years ago but forgot can definitely help you home in (you’re welcome) on your practice.  

There are hundreds of books written just for mortgage loan originators. A few are even free. If reading isn’t your favorite pastime, there are audiobooks and podcasts available too. The Loan Officer Freedom podcast features interviews with CEOs, mortgage loan officers, mortgage bankers, and more. Guests share tips and their personal experiences in the industry, which could help you make business decisions and increase your revenue. 

Get an assistant. 

It can be extremely stressful as a mortgage loan originator to help a client who is closing on a house, attract new clients with multiple marketing strategies, make time for reading and podcasts, attend valuable networking events—we could increase the list—all at the same time. Bringing on an assistant or new team member is a strategy that has worked for so many leaders.  There’s a reason just about every CEO has an Executive Assistant. As the CEO of your career, think of the ROI an EA could generate for you.

Regardless if you’re an entrepreneur looking for an assistant or you’re in need of new team members to increase revenue, these words from Cofounder and CEO, David Karandish, ring true, “Think through the values your team needs in the stage your company is in, and consider how you might ensure your early team fits those values.” Once you find the best people for the job, things will start falling in place.

Automate tasks.

More hands on deck are best when your values are aligned and everyone is doing their best work. There are plenty of productivity tools available for teams to use—but it’s important to evolve, grow, and make improvements to stay competitive in any industry.

At Capacity, we believe knowledge sharing is the key to empowering teams and boosting their productivity. And because we built our platform on a foundation of artificial intelligence and machine learning, it can nearly operate all on its own after mining documents, spreadsheets, and websites—capturing the tacit knowledge of an organization. For loan originators, that means no more wasting time searching for information during the loan process. Access any information with a simple question. 

If you’re interested in exploring what process automation can do for your business, read our resource page about robotic process automation.

Explore Automation

Check out these related articles