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Top Networks for Loan Officers
If you’re not constantly expanding your network and staying on top of the latest mortgage industry trends and techniques, you’re falling behind the competition. Here are a few professional organizations that can help increase your connections and propel your career. National Association of Mortgage Brokers As the sole national industry trade association since 1973, the National Association of Mortgage Brokers (NAMB) has affiliations with chapters in all 50 states and the District of Columbia. Meetings are held throughout the year, and NAMB members have access to pro-level educational opportunities, certification programs and benefits that aim to lower business costs and increase productivity. Mortgage Bankers Association The Mortgage Bankers Association (MBA) includes 44 state and local associations as well as groups in Puerto Rico and the District of Columbia. Joining one of these state or local chapters can help create ties with members across the nation and provide access to continued education opportunities. For example, the Texas MBA keeps its members up to date on the latest industry publications and instructional courses. It also holds an annual seminar and convention, along with informative workshops throughout the year. Toastmasters International If you’re afraid of public speaking, you’re not alone — 28.4 percent of U.S. adults have some anxiety about speaking in front of an audience. Toastmasters International, a world leader in communication with over 345,000 members in…Read More
Advice from Top Producers
Whether you’re just starting out in the home loan business or looking to grow, insight from top-producing mortgage bankers is worthwhile. Three Sente employees discuss their experiences, offer career advice and share tips for success. Bring positivity and passion. Regional manager Greg Burkett is passionate about his work. “I want every borrower to walk away and say, ‘That was a great experience.’” Founder and lead mortgage banker for The Carroll Team, Kristin Carroll says, “I bring my good mood. I’m cognizant of my coworkers’ feelings and always make sure to show them my appreciation.” Don’t let setbacks slow you down. Darryl Crawford, a regional manager with 20 years of experience, recalls that he was often discouraged in the beginning. Looking back he says, “My early-day activity ended up bringing all of my future business. Had I realized this at the time, I would have tripled my efforts.” Collaboration is essential. Carroll wishes she’d started out with stronger leadership skills and managed her group more effectively. But she enjoyed the best year of her career in 2016. She explains, “You can be good by yourself, but you can’t be great without a team.” Maintain work-life balance. In today’s ever-connected world, Burkett makes sure he enjoys his downtime. “It’s a choice,” he asserts, and it’s one he’s made throughout his career. He hunts, plays golf and prioritizes…Read More
Broker vs Banker? 3 Choices When Looking for a Place to Work
Often I am asked what to consider when looking for a place to work. When it comes to the loan officer role you have a variety of choices to pick from. It can be overwhelming because there are thousands of companies to consider. The good news is there are basically three fundamental choices that can narrow down your selection. Three Choices To Consider There are three choices to consider when you are looking for a new place to work as a loan officer. They are 1. A depository bank; 2. A broker shop; 3. A local mortgage bank. Let’s explore the pro’s and con’s of each of these three choices so you can narrow down your selection. 1. A depository bank is an institution that holds money on behalf of customers such as Bank Of America, Chase and Wells Fargo. In order to service their customers, they often start a mortgage division. The pro’s of working at a depository bank are they typically provide small salary and leads. In addition, when working for a depository bank you are not required to go through state licensing. The con’s are there are a limited number of mortgage products, you don’t get paid as much on the loans you close and there is a limited amount of help or support to help you develop your own business. If…Read More