Posted To: Pipeline Press

Let’s take any brokerage or small mortgage banker, 10 loan officers doing an average of 3 loans per month for 30 loans/month. The company has the operations staff to handle the current amount, probably more. Does it make more financial sense to go out and hire a recruiter and/or pay a signing bonus for another LO, or increase the efficiency of the existing LOs through better marketing, training, and improving the process? Let’s say all you had to do was move MLOs from 3 loans to 3.5 loans per month. I’m no math whiz, but that’s 5 more loans per month, about the same as hiring 2 new LOs. And while you’re at it, have your Ops staff take advantage of training and conferences that are out there, many at no cost. Makes all the sense in the world to me, and it’s…(read more)

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Source: Mortgage News Daily