Opinion: To maximize loan officer performance, be the person at the table to help

by Bruno Pasceri, October 15, 2023 | National Mortgage News

A few years ago, one of my colleagues started her car and saw her “low tire pressure” light flash on. Unable to add air herself, she trekked to a few gas stations that couldn’t or wouldn’t help her. Finally, one attendant pulled out the stops to rescue her. This gas station became her favorite from then on.

During the current mortgage industry downturn, lenders who want to maintain their competitive advantage need team members like this attendant. To maximize performance, they must reinforce a culture where loan officers take responsibility for being the “people at the table to help” — every time.

This is especially important in a commodity business like ours. Selling mortgage products isn’t the same as convincing a customer to choose a BMW over a Mercedes. A 30-year fixed mortgage is a 30-year fixed mortgage. And through no fault of our own, high interest rates and valuations, and low inventory, are leading to fewer opportunities to sell these purchase products.

Read the full article at National Mortgage News

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Bruno Pasceri