Are you working for the Right Mortgage Company?

When you are a loan officer, you want to recommend the best personal and business loans for your clients. Finding the right mortgage lender for your clients is not just about getting the best interest rate. You want to make sure that you work with experienced professionals who want more than simply to offer loans. Rather, success is better defined as a mortgage company who is eager to offer timely, accurate, and complete information clients need to make sound financial decisions. How do you know if you have found a great mortgage lending business, both for you and your clients? What do you need to look for? Take this quiz and see how various mortgage companies stack up:

Loans:

  1. What types of loans does the mortgage company offer?
  2. What are their policies regarding hedging, negotiation, and extensions?
  3. What compliance policies are in place and how closely are they followed?

Loan Processing:

  1. How many processors does the company employ?
  2. What are the main duties of loan processors?mortgage company
  3. What is the appraisal procedure?

Underwriting:

  1. What are the daily and monthly loan per underwriter ratios?
  2. What is the average number of days for loan turnaround?

Loan Originator Marketing Support:

  1. Does the company address and encourage client retention?
  2. Do they offer both a buyer and seller services program?
  3. Is there a program in place for preferred real estate agents?

Company Culture:

  1. How well does the company retain its talent?
  2. Are its employee policies both reasonable and enforced?
  3. How does management resolve issues and conflicts?
  4. Is accurate and timely communication a focal point of the company?

Daily Life:

  1. Does the mortgage company keep current with technology in its day-to-day operations?
  2. Are there dedicated IT professionals to address technological issues and upgrades?
  3. Does the company offer sufficient administrative support for all of its groups?
  4. Do the employees seem satisfied with their workplace?

Although every loan officer has their own particular aspects that are important to them, asking yourself the questions above can help you determine whether or not you are working with a great mortgage company. Take your time when investigating potential mortgage companies to ensure that your work life exceeds your expectations for your own professional satisfaction as well as those of your clients.

If you have any questions about the mortgage process, contact Shamrock Financial. Their friendly, timely, and dedicated service to clients and service professionals alike will show you how mortgages should be done every time.

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