Loan Officer Business Cards as Marketing Tools

In the digitally driven world we live in today, marketing tends to focus on things like a business website or social media marketing. While these are important tools, loan officers should not turn their back on time-tested marketing tools, such as business cards. Mortgage loan officer business cards offer you various advantages that the digital age just does not. They can still be a very effective marketing tool to increase your sales and help generate leads.

Business cards as a marketing tool

A well-designed business card is a great way to introduce yourself and your business to potential clients and serve as an effective marketing tool. Business cards are an inexpensive way to provide a glimpse into what you do while giving potential clients a way to get in touch with you.

Easily accessible

Imagine meeting a potential client while waiting in line. You begin talking and learn they are looking to purchase their first home. Obviously, they will be looking for a mortgage loan officer, and this is your chance to make an impression. You reach into your wallet and pull out your business card, letting them know you can help with their home loan. Now, imagine you didn’t have a business card. You would have to find paper and pen to scribble your information or ask them to enter your information into their phone. A business card gives you an easy way to quickly provide your introduction and contact information whenever you need to.

Highlights attention to detail

Traditional business cards contain the basic contact information in a simple black and white design. Unfortunately, adding much more than that to a small card can be a challenge. However, a well-designed card with a good visual design and readability can stand out. These days, it is important to add things to your business card that make you stand out. Having the ability to do that on a small-scale card can highlight your attention to detail and professionalism.

Allows you to make a personal connection

When you hand a business card to someone you meet, you make a personal connection. You show you care enough to provide them with something tangible in order to remember you by. This is much more personal than simply asking them to enter your information into their phone or scribbling down a contact number and name.

Are business cards still relevant?

You might be asking, “In a digital world, can business cards really be relevant to me today?” The truth is the numbers speak volumes. Let’s take a closer look at some basic statistics regarding the use of loan officer business cards as a marketing tool.

• Passing out 2000 cards provides a 2.5% increase in sales. While this may not seem like a lot, let’s look at the numbers. If your business averages $100,000 in sales a year, a 2.5% increase would mean an additional $2,500. When you consider that your business cards will likely cost under $100, your additional sales far outweigh your investment.
• 88% of business cards handed out are thrown away. While this statistic may have you second-guessing the purchase of your business cards, let’s put this number into a different scenario. If you look at your website (and we all know the importance of an internet presence today), the average conversion rate (total web traffic divided by new contacts) is 2.35%. That means, on average, 98% of your website visitors essentially “throw your site away.” You wouldn’t consider taking down your website, despite those numbers. Clearly, adding business cards, which are typically cheaper than websites, is worth the investment.

Benefits of using business cards

You can see that using loan officer business cards can be an effective marketing tool for your business. Here we look at four main reasons why business cards are still beneficial, even in today’s modern digital world.

1. Basic business etiquette

Business etiquette dictates the use of business cards. Think about networking events, tradeshows, etc. Common practice is for professionals to share business cards when they make connections with other professionals.

2. Faster than digital options

If you or the person you meet are in a hurry, sharing contact information through your phone or other digital device is not always possible. However, it is simple to open your business card holder and give them a card.

3. Not everyone is digitally based

While this may seem difficult to understand, not everyone is a part of the digital world. In many cases, potential customers don’t even own a smartphone, which you need to consider. Potential leads may not have the ability to enter your information into their phone but would greatly appreciate an easy way to contact you. Simply offering a business card is the solution.

4. You never know when you meet a potential customer

Imagine you are out with the family for a day at the beach. You left your phone in the car because of the sand and water. But you meet a fellow parent while watching the kids make sandcastles that is currently looking at buying a new home. You can’t get their information into your phone, but you can share a business card from your wallet. Without a business card, this could have been a missed opportunity.

How to effectively use business cards

So, you see the importance of loan officer business cards, but what are the best ways to use them effectively? Here are a few ideas that can help you turn your business cards into an effective marketing tool.

• Always keep them on hand. You never know when you will meet a prospective lead.
• Situate them with referral partners. If you work with local realtors as referral partners, ask the realtors to offer your business cards on their desks or with correspondence.
• Include them in all your correspondence. Every time you mail something to someone in your target market, add your business card.
• Use them in your referral system. At a loan closing, consider giving your clients a few business cards to share with others. If you are sending a thank you to a recent client, send a couple of your business cards and ask them to share with their friends and family. Give extra cards to your realtor or financial colleagues and ask them to share within their network.

Tips on designing your business cards

With most professionals sharing business cards, how do you make yours stand out above the rest? The following tips on both content and design can help you show some creativity without compromising your professionalism and trustworthiness.

• Color – While traditional business cards are black text on a white background, color is a way to make your cards stand out. However, when adding color, don’t go overboard as too much color can be off-putting.
• Text – Make your text clear and easy to read. While you may be tempted to use non-traditional fonts, these can often be difficult to read. Keep the information you include on your card simple and easy to understand.
• Card shape – While traditional business cards are rectangular, many printers now offer different shapes. While these may seem like a way to make you stand out, they are also more difficult for your recipient to place in their wallet or business cardholder.
• Materials – Saving a few dollars on cheap cardstock for your business cards is not worth it. Always choose quality material. Most business cards are printed on high-quality matte cardstock. While you can pay extra for a glossy surface, keep in mind the matte surface is easy for you to write on and add a quick note to the person you meet.
• Consider adding a photo – as a loan officer, you are selling a personal service. Adding your photo to your business card is a great way to provide facial recognition and help your potential leads remember you.

Alternatives to traditional business cards

Whether you are looking for additional ways to make your cards stand out or still aren’t sold on the idea of using business cards, there are some alternatives.

Functional business cards

If you are looking for a way to try and keep your business cards from landing in the trash can, consider creating functional business cards. These are cards that offer a benefit for the person you give them to. For instance, larger size cards can provide your business card information at the top and a tearaway calendar on the bottom. Another option is USB cards. This connects your cards to the digital world. The card itself is a flash drive that you can load with a quick message and information for potential clients, but then they can use it as a functional flash drive, keeping your name in front of them every time.

CRM

If you utilize good customer relationship management (CRM) software that is mobile, you can use this instead of business cards. When you meet a potential lead, simply input their information straight into your CRM. One advantage of this is you can also include notes to remind yourself about the connection you made. However, this does not give your contact your information, and they must wait to hear from you, so setting up immediate campaigns for new contacts is essential.

Business cards are a great tool in your marketing plan

As you can see, while they may seem like a tool from the past, business cards are still a very beneficial marketing tool for a mortgage loan officer.

At Good Vibe Squad, we work with you to help build and grow your business and lead generation. Contact us today to learn more about the services we offer and how we can help your business thrive.

The blog post Loan Officer Business Cards as Marketing Tools is courtesy of: https://goodvibesquad.com/

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Ideas For Your Mortgage Social Media Posts

As a mortgage loan officer, you are always looking for ways to market yourself and generate leads and referrals. One key tool to do this is social media. However, in order to be successful with social media marketing, you must consistently post and be engaged with your followers. Unfortunately, many mortgage loan officers don’t know where to start when it comes to social media mortgage posts. Here we offer some tips to help provide inspiration and guidance, allowing you to effectively use social media marketing to boost your business.

Mortgage Social Media Posts for Loan Officers

So, where do you begin when creating social media content? What is going to appeal to your followers, and how do you post something that will engage others? Here are some ideas to help get you started.

1. Infographics

Infographics allow you to break down complex loan process concepts into smaller and more understandable segments, making it easier for the average consumer to understand with a simple glance. The more vivid the colors and illustrations you use, the higher chance you have of followers pausing as they scroll to take a look.

2. Blog posts

If you create regular blog posts, sharing these posts to your social media platforms is essential. Your blog posts allow you to share your expertise and while your followers may not need the information from a particular blog post, they may know someone that does, and they are likely to share that informational content.

3. Testimonials

While most social media post options involve you sharing information, testimonials allow others to promote you. Posting testimonials from satisfied customers help to boost your brand and build trust with potential customers. If your testimonial comes from a social media follower, they may even chime in under the comments to provide more information to potential clients.

4. Mortgage glossary terms

Let’s be honest. Mortgage terms can often be confusing to the average consumer. If you are looking for regular posts to add to your social media, consider a daily or weekly definition post that explains common mortgage loan terms.

5. Quotes

One misconception when it comes to social media is that all your posts must be mortgage loan-related. The truth is, sharing inspirational or motivational quotes included with images is often a good way to engage your followers and have them share your posts.

6. Market statistics

People like numbers and evidence they can see. Posting regular market statistics that target your area, such as how much home sales went up last month, can promote conversations and shares between your followers.

7. Comparisons

Getting your followers to engage with posts is your goal as this helps to increase likes, shares, and comments. Asking simple comparison questions, such as sharing an image of two homes for sale and asking which style they prefer, is a great way to encourage engagement and learn what your followers are really after.

8. Personal accomplishments

This is an area where you can post about your personal accomplishments, such as awards, promotions, or additional education. You can highlight customer accomplishments, such as posting a client closing. Ask your clients for approval and take a picture as they sign their new home documents. Then post the picture with the caption, “Mr. and Mrs. X just signed their first home loan documents today and are officially new homeowners! Congrats!!” This helps connect you to your customers and show potential customers what you can help them accomplish.

How to successfully post on social media platforms

Now that you have some ideas of what to post, here we offer some things to consider when posting in order to keep your followers engaged. Social media platforms can be a great source of free marketing when you use it correctly and we are here to help with these additional tips.

• Timely updates – Sharing your knowledge of industry changes and updates in a timely manner is beneficial for followers.
• Useful tips and tools – Blatant advertising doesn’t always spark interest from your followers but offering useful tips and tools, such as a payment calculator, is something they can appreciate.
• Relevant posts – Not all your posts need to be about mortgage loans, but you want to keep your posts in the industry. For example, real estate topics, credit tips, etc. are great topics to post about.
• Be consistent – In order to keep followers engaged, it is essential to post consistently. For example, we mentioned glossary term posts above. Having a regular weekly glossary post ensures you have something every week (learn more about scheduling posts below).
• Engage your followers – The goal of a post is to engage your followers. Consider asking questions or creating a poll. Encourage discussion with your posts and, if your followers post a comment, be sure to engage in conversation with them.
• Create fun and engaging posts – Not everything needs to be strictly business. Use your social media to get to know your followers. Ask what they are looking for. Post questions about your area. Share a weekly “Fun Facts” post with fun, interesting, and engaging information.

What NOT to Do on Social Media Platforms

While a great post can go viral and build your business, a bad post can really hurt you. Keep these tips in mind when posting.

• Post political or controversial posts – Avoid politics and other controversial topics as these can spark emotional debate and arguments among followers.
• Insulting or harmful posts – Steer clear of any posts that may be considered insulting or harmful to your clients or colleagues.
• Non-compliant information – Avoid any post that shares non-compliant information.
• Posts that make the loan process seem difficult – You know the loan process can be difficult, but it is your job to help clients navigate the process. Posting things that make the process look more difficult can push potential clients away.

Tips for successful social media marketing

These additional tips turn the focus away from what, how, where, and when you post. And also, how to monitor your results. You can have the most amazing content, but you won’t achieve the results you hope for if you don’t do it wisely.

Choose the right platform

When deciding which social media platforms to focus on, you must first decide on the prospects you are trying to target. For example, if you focus on first-time home buyers, Facebook, Instagram, and Pinterest may be your focus. However, if you focus on real estate investors, you may want to take a more business-oriented approach and focus on social media platforms such as LinkedIn.

Automate your posts

Once you know where you want to post and have content created to post, you are left with when and how to post. We have mentioned that it is important to post on social media platforms on a regular basis, but this can take time out of your daily schedule. The good news is automation platforms offer a solution. Here you can spend an hour for a week-worth of posts, scheduling them for the perfect times throughout the week. Then, you can go about your regular workday while the automation platform does the work for you. However, keep in mind you should still set aside time each day to engage with comments from your followers.

Track your social media results

When it comes to your social media marketing, you want to be able to track what works and what doesn’t. For this, you can look at things like how many views your posted video received, how many comments posts are receiving, and how many times someone clicked through to your blog post. A helpful benefit of using an automation platform is that they often offer analytics to help you better track your results. If you see something that isn’t engaging followers, try something different.

Connect with clients and colleagues through social media

Social media is growing every day and it is here to stay. Successful loan officers understand this and know the benefits of social media marketing. With these tips, you can take control of your social media and help boost your reach with just a few hours a week.

At Good Vibe Squad, our knowledgeable team wants to help you build and grow your business. Contact our amazing staff today to learn more about our services and how we can help you generate guaranteed leads.

Ideas For Your Mortgage Social Media Posts is republished from: Good Vibe Squad

Original post here: Ideas For Your Mortgage Social Media Posts

18 Must-Have Mortgage Loan Officer App

Today’s world is technology-based. We carry the world in our pocket and, while this can be distracting at times, it can also provide mortgage loan officers with a pocket full of mortgage marketing tools and productivity tools at their fingertips. App-based technology enables you to increase your mortgage business opportunities, work more efficiently, and improve your social reach on the go. Here we look at some of the top must-have apps for a mortgage loan officer.

Apps to increase sales and performance

The key to being a successful mortgage loan officer is business growth. You spend much of your day working to generate leads and create networking and referral contacts. These apps help to increase your sales and performance by allowing you to expand your network and provide responses to clients no matter where you are.

1. Real Estate Apps: Realtor.com, Redfin, Zillow, and Trulia

As a mortgage loan officer, it is key to know and understand your local real estate market. The Realtor.com app allows you to monitor your local real estate market, see who the top realtors are, and understand the average selling prices.

Closely monitoring this app allows you to target things like open houses and home sellers to generate leads. For example, you can target open houses with finance flyers or business cards and connect with top real estate agents for referrals. When you see new houses on the market, chances are, the sellers are also looking for a new home. Sending out targeted mailers to home sellers puts your name out in front of prospective clients.

2. Floify

This mortgage automation app allows loan officers to better stay connected with borrowers and referral partners. It easily allows sending and receiving documents, tracking milestones, updating loan statuses, and efficiently following up with clients.

3. MTA GO

This app is designed to help you locate potential referral partners. With MTA GO you can track real estate agents’ productivity, allowing you to find the top agents based on offices and locations. Once you locate top agents, you can save them to a watch list.

4. Loanzify

Loanzify is a communication platform that helps keep you and your borrowers in the know throughout the loan process. This customizable app allows you to offer a branded digital mortgage calculator to your borrowers. In addition, you can co-brand the program with your realtor partners. This program helps track, catalog, and archive all communication between you and your borrower. The app offers a free trial to start, and their programs range between $39-$69/month.

5. Mortgage Coach Edge

While explaining the mortgage process to some clients is easy, others may need a more visual description. Mortgage Coach Edge allows you to create visually appealing charts, graphs, and videos in order to better explain difficult concepts to potential clients. Offering this service shows your potential clients that you are committed to their understanding. Also, this personalized experience can help close sales.

6. Easy Mortgages-Mortgages Calculator

Mobile apps, such as Easy Mortgages, offer mortgage loan offers mobile mortgage calculators and proposal generators. Imagine working with a real estate partner at an open house and a potential buyer comes in asking about possible mortgage rates and what payments they would expect to pay on the home. With this app, you could put together a mortgage proposal and email it before they even finish viewing the home.

7. LinkedIn

LinkedIn is a valuable tool for anyone professional. As a mortgage loan officer, it is beneficial to have an outstanding profile for yourself and your business. LinkedIn is a valuable tool when it comes to generating leads and referral partners. However, to get the most out of LinkedIn, you need to be regularly engaged with your network. Posting topics, endorsing network connections, adding new potential connections, and leaving testimonials are great ways to stay engaged and grow your network, but this can also take time. Adding the LinkedIn app allows you to use LinkedIn on the go.

8. Rate Watch

During times of heavy market volatility, adding the Rate Watch app can be like having another team member constantly monitoring the market for you. By setting rate alerts, you receive notifications for market happenings, including increases or decreases. This helps ensure you lock in rates at the opportune time and do not miss out on a potential sale.

9. Nextdoor

Nextdoor is a social platform that connects neighbors based on their location and neighborhood and allows them to share information and ask questions. Being active in your local area allows you to stay engaged with locals that may have questions about mortgages and home loans. This allows you to share your knowledge and increase business opportunities.

Apps to increase productivity

As a busy mortgage loan officer, you are always looking to increase your productivity and streamline your day. The good news is many different apps are available to help you do just that!

10. Harvest Time Tracker

If you have ever wondered where your day went, Harvest Time Tracker can help. This app allows you to track your time throughout the day, track project progress, enter hours in timesheets, and schedule teams. It integrates with other platforms, such as Google Calendar, Outlook, and Basecamp. There is a free version, but for a monthly charge of $12/person, you can access all the features and have unlimited project tracking.

11. Buffer

Want to stay active on your social media accounts but just don’t have the time? Apps like Buffer allow you to schedule content for your social media platforms, such as your recent blog posts. This allows you to make posts while you continue to work with current clients. You can schedule these posts for times when your target demographics are likely to be most engaged on social media.

12. Join.Me

If meeting a colleague or client in person isn’t an option, Join.Me allows you to host virtual meetings from anywhere. In addition, it offers features such as screen sharing and video recording. While it has a free app, it also has various paid levels offering more features and ranges from $10-$30/month.

13. EverNote

Is your desk covered in sticky notes? Do you have a notebook full of notes from meetings or thoughts you wrote down randomly? Do you wish you could keep all these notes in one place and organized? EverNote offers that solution. Here you can create simple notes, meeting notes, links to web pages, to-do lists, and more. While the basic program is free, the premium ($7.99/month) and business ($14.99/month) plans offer additional tools, such as project management.

14. DocuSign

As a loan officer, getting a signature on documents is a vital part of your business. DocuSign allows you to automate and digitize your complete documents and signature process, allowing you to collect signatures on the go and in a timely manner. Plans with DocuSign start at $10/month.

15. Upwork

Sometimes you need an extra hand but hiring another employee isn’t in your budget. Upwork is an online platform for freelancers looking to help when you need it. With Upwork, you can post a project and receive bids from freelancers for the job. Once you hire the right candidate, they complete the job, and you pay through Upwork. You can post projects for free or join their Plus Plan for $49.99/month to receive a dedicated account manager that will recruit freelancers when you need help.

16. GSuite

Google offers a variety of productivity tools, and chances are you already use Google Drive to share files and collaborate with colleagues. GSuite brings this to your mobile device, as well as other tools such as a sharable calendar and the option to host video and audio meetings. While the free version is fully functional, you are limited to 15GB of storage. The Basic plan is $5/month, while the business subscription is $10/month.

17. LastPass

In today’s world, just about every site or app you engage with requires a password. LastPass takes the worry out of forgetting your password and being locked out of a program you need. Once you save your password for a site, it auto-fills the login information when needed. In addition, if you have trouble coming up with secure passwords, it offers a random password generator that helps increase your security. This app is free. However, there is a premium option for $3/month.

18. Pocket

Have you even read an article or seen a video that you wanted to go back to later or share with a specific client? Or you started reading something that caught your attention but needed to head into a meeting? The Pocket app is your answer. This app allows you to save articles or videos you find on other apps, such as Facebook, and save the content so you can view it later, whether online or not.

Apps can help you succeed

As a mortgage loan officer, you are always looking for ways to increase your lead generation, gain referrals, and better manage your time. The good news is that technology, such as these apps, can help you do just that, all while giving you more time to focus on your clients.

Here at Good Vibe Squad, our knowledgeable team is also here to help you build and grow your business. Contact the Good Vibe Squad today to learn more.

The following post 18 Must-Have Mortgage Loan Officer App is republished from: www.goodvibesquad.com

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A Thank You Card from Mortgage Loan Officer as Lead Generation Tool

As a mortgage loan officer, you are always looking to generate new leads. In today’s world, technology is often the most common form of advertising and communication. Emails and social media often dominate your daily lead generation. While these methods are very effective, an old-fashioned thank you letter is often more effective as a lead generation tool. When a loan officer sends a handwritten thank you letter to a client, the client often finds it a more personal form of communication and is often more likely to remember you when someone they know needs a loan officer.

Can sending thank you cards or notes make a difference?

Thank you notes are a longstanding form of showing appreciation for something. Unfortunately, as technology has taken over so many aspects of our lives, sending it has become a thing of the past. However, that fact is what makes sending them now so important. While everyone else is simply sending emails to connect, a handwritten thank you card sets you apart from others. In addition, sending a thank you card to someone you have worked with or just met at a business networking event acknowledges your initial connection, helps you develop a continuing relationship and regularly keeps your name in front of them.

The use of thank you cards for lead generation is unlimited. Every time you meet someone and get their contact information, consider sending a thank you card. For example, when you go to a networking event and meet new people, you often spend the evening collecting business cards. After every new person, make some personal notes on the back of the business card about what you talked about or other significant information. A few days later, send out a thank you card that addresses what you talked about, what a pleasure it was meeting them, and how you look forward to connecting again. This practice opens the door for relationship building and possible leads.

Thank you card templates

While you see the benefits of writing thank you cards for lead generation, writing a thank you card isn’t always easy for people to do. What do you say to make a thank you card work for you? Here we have created some templates that work well in a variety of different circumstances. Simply copy the templates, adding specific personal details to them to make them more customized and address your connection to the individual.

1. Thank you cards for potential clients

This is a perfect template to send a thank you card to someone that has contacted you about potential mortgage loans or refinancing. Be sure to use this as a base and personalize it to the individual’s information.

Dear [First Name],

Thank you very much for contacting me about your new home purchase or potential home refinance. I understand that the loan process can be intimidating and confusing, so please do not hesitate to reach out if you have any questions.

I have worked with many others in your situation and would love the opportunity to help you attain a loan that best matches your needs.

I look forward to hearing from you,

[Your Name]

[Contact Information]

2. Thank you cards to clients after a home closing

After you help a client finalize a loan and close on their new home, sending a thank you card acknowledges your appreciation for them choosing to work with you and is often a great way to keep them in mind when they have a friend in the same situation. It is also a great time to ask for referrals.

Dear [Client Name],

I wanted to reach out and say congratulations on your new home. I also wanted to take a moment to say thank you for choosing me to help you reach your goal of homeownership. Working with you was a pleasure, and clients like you are invaluable to my business.

Enjoy making your new home your own and treasure the new memories you will make.

If you have friends or family members looking to purchase or refinance their home, I hope that you will think of me and pass my name along, so I can help make more dreams come true.

All the best,

[Your Name]
[Contact Information]

3. Asking for potential online reviews

Satisfied clients are great for reviews, but often they do not know where to post reviews. Sending them a personalized thank you card allows you to thank them for their business while also providing information for leaving a review. Use the middle of this letter to personalize the experience you had with this client.

Dear [Client Name],

I wanted to send a quick note to let you know how much I appreciated your business and working with you.

Your incredible organizational skills made the entire loan process run so smoothly, making it an absolute pleasure to help you acquire your loan.

If you have a moment and would be willing to recommend my services to other potential online clients, I would greatly appreciate it. [provide a link to the review site you would like a review on]

Thank you again for being an amazing client. I hope you enjoy your new home!

Sincerely,
[Your Name]
[Contact Information]

4. Sending to clients one year after closing

Keeping in contact with previous clients is a great way to keep your name on their minds for possible referrals. The first anniversary of homeownership is a great time to reach out to potential leads.

Dear [Client’s Name],

Happy Anniversary!! You have been in your new home for a year now, and I hope you have settled in and made some amazing memories!!

I was so happy to help you through your home-buying experience. I just wanted to check in with you and wish you the best. I also wanted to let you know that I am here if you or any of your friends or family members are looking to buy, sell, or refinance your home. I hope you will consider reaching out.

Thanks again, and I wish you a happy second year!!

[Your Name]
[Contact Information]

5. When colleagues send you business referrals

Oftentimes you will receive client referrals from colleagues or other business connections. Thanking them for the referral acknowledges their efforts and allows you to offer help to them as well.

Dear [Colleague’s Name],

I wanted to take a moment to thank you for sending [Client’s Name] my way. It has been wonderful working with them and helping address their needs.

I appreciate our friendship and business relationship and, if I can return the favor in any way, please do not hesitate to reach out. Maybe we can get together for lunch sometime soon, on me!

Thank you again,

[Your Name]
[Contact Information]

Tips for writing thank you cards that work

While a simple email may do for many different client correspondence or lead generation opportunities, thank you cards add an option to your arsenal. When you really want to make an impression, these tips can help make you create the perfect thank you card.

• Write thank you cards on high-quality stationery or note cards. Consider printing special thank you cards with your contact information already printed on the cards.
• Make sure to personalize the card. Take the time to include personal experiences and use your client’s name.
• Always say thank you and clearly express why you sent the note.

Thank you cards as a lead generation tool

In terms of lead generation, sending personalized thank you cards can make a huge difference. They show that you truly appreciate your clients, colleagues, and business relationships, and by simply saying “thank you,” you may be amazed at how many referrals will come your way.

If you are looking for additional ways to boost your potential client base, the team at Good Vibe Squad is here to help. Contact Good Vibe Squad online today to see how our team can give you an Unfair Advantage over your competition.

The following post A Thank You Card from Mortgage Loan Officer as Lead Generation Tool was first published to: Good Vibe Squad

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How to Become a Loan Officer

If you are considering a career as a mortgage loan officer, you are not alone. In fact, U.S. News lists a loan officer in the top 10 careers in the business jobs category. But what does it take to become a loan officer require? What licensing is required? Do you need specific training? Here we look at exactly what a loan officer does, and the steps required to become licensed and maintain your license.

What does a loan officer do?

Loan officers work to determine whether corporations or individuals qualify for loans from banks or other financial institutions. To do this, they examine the applicant’s financial records and, using underwriting principles and specific formulations, work to determine the applicant’s ability to repay the loan. It can include the examination of things like income, income-to-debt ratio, job stability, and assets.
In addition to working numbers, loan officers must also possess excellent customer service skills. Not only are you required to find clients for loans, but you are also working with people, families, and corporations and walking them through the loan process, often through major milestones of their life. Common duties of mortgage loan officers include:

• Identifying potential homebuyers and loan applicants through advertising, networking, etc.
• Gathering all the necessary information from applicants
• Presenting loan options that work with the applicant’s needs and means
• Keep accurate records
• Coordinate with other professionals, such as appraisers and underwriters

Becoming a loan officer

If you are considering a career as a mortgage loan officer, there are a few things to consider. Your personal traits and personal history can plan a big part in your ability to become a loan officer and how well you will succeed. In addition to looking at those qualities, we will also look at what is required to become a loan officer.

Your personal qualities

A successful loan officer will be a well-organized and outgoing individual. Because you are dealing with a wide range of people, having an outgoing personality will be a great benefit when it comes to gaining referrals and acquiring new clients and your direct dealings with clients.

When it comes to working with applicants on their loans, you will be processing a lot of personal information and it is essential that all this information be carefully organized and handled with the utmost care and accuracy. Having excellent organizational skills helps you better manage this information and provide better service to your applicants.

As a loan officer, knowledge is essential, and you should never stop learning. For example, as a mortgage loan officer, you should have knowledge of the ever-changing real estate industry. If you are always looking to learn something new, then a mortgage loan officer may be the perfect fit for you.

Examine your personal history

Loan officers work with banks and lending institutions every day. Because of this, loan officers must undergo extensive background checks, looking at things like your credit reports and credit history, foreclosure history, defaulted loans, fraud-related criminal history, and more. A person must have financial character and stability to become a loan officer.

Pre-licensure education, requirements, and certification

The National Mortgage Licensing Service (NMLS) is the regulatory body for all mortgage loan officers and to become a loan officer, you must take pre-licensing education, pass license testing, and submit the required information. While some enter this field with degrees in banking or business, the only traditional education requirement is a high school diploma. The educational focus for this career falls in the licensing requirements. Let’s take a closer look at each step.

Pre-License Education

All potential mortgage loan officers must complete a pre-licensing education course. This course includes the required base of 20 hours, though each state may have additional education requirements, so it is important to check with your state before beginning a pre-license course. Topics included in the base 20 hours include:

• 3 Hours of Ethics – this covers fraud, consumer protection, and fair lending.
• 3 Hours of Federal Law and Regulations
• 2 Hours Nontraditional Mortgage Product Market
• 12 Hours of Mortgage Origination Instruction

The Safe Act Requirements

While each state is different when it comes to education hours and requirements, there are some requirements that every applicant must submit. Based on the Secure and Fair Enforcement Act for Mortgage Licensing of 2008, all mortgage loan officers must adhere to the following guidelines:

• Provide authorization to obtain a credit report
• Provide necessary identifying information
• Undergo a criminal background check, including fingerprinting
• Provide financial services employment history for the past 10 years
• Disclose any financial regulatory charges against them
• Obtain license from their respective state
• Register with the NMLS
• Attest that all information is accurate and complete

NMLS Testing and Requirements for Licensure

Once your education requirements are met, you will sit for the SAFE MLO Test. This test evaluates your knowledge of state and federal mortgage lending law. Every application must pass the test with a score of at least 75%. If you fail your first or second attempt, you must wait at least 30 days before retaking the test. If you fail a third time, you must wait an additional 180 days before another test can be given. Once you pass the exam, other requirements include:

• Fee payment: Applicants must pay all required fees to obtain their license. These fees vary by state.
• NMLS Unique Identifier: Every company or individual with an NMLS account is assigned an NMLS Unique Identifier number and is designed to track all mortgage-related services, including advertising.
• Sponsorship: Individual mortgage loan officers must be sponsored and supervised by an employer, and each state must approve of each sponsorship.

Maintaining your loan officer license

Once you receive your license, you are ready to go to work. However, your education does not end with your pre-license course. Every active mortgage loan officer must renew their license each year and that requires continuing education courses. It is your responsibility to complete this education and all the requirements for renewal and failure to do so could result in you losing your license. In addition, you must keep all your information current with the NMLS. For instance, if you change companies, you must inform the NMLS.

Frequently Asked Questions

While we have provided some basic information on becoming a mortgage loan officer, here is some additional information answering some frequently asked questions.

How long does it take to become a mortgage loan officer?

How long it takes to become a loan officer depends on where you want to work. Some banks of financial institutions require a bachelor’s degree before taking the pre-licensing exam. In this case, your degree can take up to four years before you begin your pre-license education. Pre-license education can take a few weeks to a few months.

What education is required to become a loan officer?

While only a high school diploma and a pre-licensing education course are required to become a mortgage loan officer, many banks and financial institutions also require a bachelor’s degree.

Can you become a loan officer while working another job?

Yes, you can do your pre-licensing education on a full-time or part-time basis, meaning you can pursue your education and career change while working another job.

Take the next step in your career

If you are interested in pursuing a career as a mortgage loan officer, do your research in both the mortgage and the estate fields to help boost your knowledge and improve your chances of success. The information we have provided will help guide you through the process and, once you begin working as a mortgage loan offer, we are here to help.

The team at Good Vibe Squad is here to help you build and grow your business once you get started. Contact Good Vibe Squad today to learn more.

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Can Loan Officers Work from Home?

According to Stanford Economist Nicholas Bloom, 42 percent of the U.S. labor force is now working from home. While the COVID crisis sparked a huge rise in the need for employees to work from home with lockdowns and quarantines, many companies are now finding success with work-from-home positions. While many companies were hesitant, they are now seeing the benefits. While many state regulatory agencies and companies still restrict loan officers to working in licensed facilities, the pandemic brought many changes that now allow most loan officers to work from home. However, working from home successfully is not for everyone, and there are a few things to consider before taking this step.

What do loan officers do?

Loan officers are employed by commercial banks, credit unions, mortgage companies, car dealerships, and other financial institutions. They are responsible for evaluating, authorizing, and recommending the approval of loan applications. A loan officer evaluates an applicant by looking at their background and determining if the loan candidate is a good risk and likely to pay back the money they borrow. In addition, they are often responsible for finding clients seeking loans, meaning they work to make connections with realtors, car sales associates, or other business professionals in the hopes of generating business.

A loan officer working from home

While most loan officers work in a financial institution, many are making the transition to home-based operations, either part-time or full-time. While some regulating agencies still require loan officers to work in their financial institutions, this is changing for many areas. Before you consider transitioning to a work-from-home position, make sure your area allows for it. While many people think the idea of working from home sounds great, it can be a challenge if you are not prepared for the changes.

Creating your home workspace

When creating your work-from-home space, there are many things to consider to be successful. Probably one of the most important things to consider is your internet. While most home internet works for your basics, as a loan officer working from home, your day will likely rely on emails, video calls, and large corporate files. You need internet with at least 100 megabits per second to ensure that you can keep up with your demand.

Once your internet is in place, you need to focus on your workstation. What do you need to complete your daily demands? This can include computers, monitors, keyboards, laptops, filing systems, and more. In many cases, the financial institution you work for will provide these items or offer to purchase required items for your home office.

Marketing yourself when you work from home

When working from home, you are not as likely to come into face-to-face contact with potential clients, so it is important that you still work on marketing yourself in other ways. The digital age provides many opportunities to do just that. Managing your Facebook, LinkedIn, and Zillow pages are essential to keep you in front of potential borrowers. In addition, joining outside networking groups is a great way to get out of the office and build effective network relationships.

Finding the right lender to work with

Unfortunately, not all companies have accepted the work-from-home culture. If your goal is to work from home, you need to find financial institutions that accept the remote lifestyle. Not only do these companies allow you to thrive from home, but they also continue to work to build a team by holding bi-annual retreats, virtual town halls, or more to enhance the sense of teamwork between in-house and at-home members.

How to be a successful loan officer when working from home

Working from home is not for everyone and it takes some changes to be successful. These tips can help ease your transition and promote success, even if you are only working from home part-time.

Setting your goals

As a loan officer working from home, you don’t have someone there to keep you accountable. You must rely on yourself in setting and meeting goals. Establishing daily, weekly, monthly, and yearly goals and making sure you meet these goals is essential. Start by thinking about what you want to accomplish this year and determine what you need to do to make that happen. Think about things like how many calls you need to make each day, how many appointments you need each week, and how many lead generations you need per week to meet your goals.

Creating and following a schedule

Working in an office setting typically has regular work schedules. You get to the office at a certain time, take a scheduled break and lunch, and finish your day at closing time. Working at home is a little different, but you still need to establish a regular schedule to stay productive. While this schedule does not need to follow your traditional office schedule, you want to make sure you follow the same routine hours every workday. It can become very easy to overwork when working from home, so creating a regular schedule also helps reduce burnout and ultimate failure when working at home.

Creating a separate workspace

While it may seem like a luxury to work from home with your laptop on the coffee table or some other random spot in your home as the day progresses, this can reduce your productivity. When it comes to working from home, you need to create a workspace that is dedicated to your work. A place where you can open the door when your work hours start and close the door at the end of your workday.

Having a full office set-up allows you to focus on your work and meet your daily goals without tracking down something you forgot or don’t have readily available.

Managing an active professional network

As we mentioned earlier, working from home can become isolating, so it is important to allow time to focus on your professional network. This can include everything from your Facebook, LinkedIn, and Zillow pages to local community networking and professional groups. These resources help keep you active and put you in front of people who can help you grow your business.

Always strive to grow

Working from home is often the perfect environment for many loan officers. However, there are some important things to remember. When you work in a traditional office setting, other agents are pushing you to match your success. When you work at home, you must push yourself to achieve the success you strive for. This means you need to spend time increasing your knowledge and growing yourself and not getting stuck doing the same thing over and over again with no growth.

Here at Good Vibe Squad, our team is here to help you build and grow your business from home. Contact the Good Vibe Squad online today to learn more.

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10 Best Books for Mortgage Loan Officers

As a mortgage loan officer, meeting your customers’ needs is essential to achieving success. Whether you are a seasoned mortgage loan officer or just getting started, mortgage education is important. Reading some of the top mortgage loan officer books and general business knowledge is a simple and cost-effective method to build your overall knowledge and jumpstart your career. Here we highlight some of the best business books for mortgage loan officers.

Top books for the mortgage loan officers

A quick Google search will deliver you a wealth of business books for mortgage loan officers looking to increase their knowledge. Unfortunately, this can be overwhelming.

Here we offer a list of some of the top book choices for mortgage loan officers.

The Millionaire Loan Officer

The Millionaire Loan Officer is a game-changer for new loan officers, as well as seasoned professionals. The author, Scott Hudspeth, follows two people in the mortgage industry. Their stories and teachings by Hudspeth take you on a journey learning the basic steps for success. At the end of each chapter, you find the “Final Thoughts,” an area that provides you with the knowledge and actionable items to help you transition from a mortgage loan officer to a millionaire loan officer.

The Loan Officer Revolution

Things have changed in the mortgage industry, and the relationship between loan officers and realtors is not what it used to be. Ranked in the top 1% of Mortgage Originators in America, author Rick Elmendorf shares his strategies on creating a foundation that adds value to the right relationships and how these relationships can ignite serious business growth and success. Adding The Loan Officer Revolution can help you transform your business the same way Elmendorf finds his success.

Foundation To Sustainable Success

If you are looking for something new regarding mortgage origination books, this one is for you! Author Kelly Resendez uses her experience as a top producer and business coach to create a book full of concrete frameworks and practical strategies that will help you take your business to the next level. However, the focus is not so much on business as it is on you personally. Resendez focuses on things like a successful mindset and eliminating self-sabotage, and limiting beliefs. Foundation to Sustainable Success helps you find joy in what you do and reinvent your business while helping to reduce stress and avoid burnout.

Mortgage Loan Officer Success Guide

Whether you are a brand-new mortgage loan officer or a seasoned veteran, Michael Zuren’s Mortgage Loan Officer Success Guide offers a wealth of information. Starting with industry basics, Zuren moves to more advanced tips and tricks such as creating and sustaining an effective marketing campaign and learning how to build rapport and offer excellent customer service to your clients.

Be the Better Broker Series

As a top producer in the mortgage industry, author Dustan Woodhouse created the Be a Better Broker series which provides a wealth of information for those considering the mortgage loan industry, new loan officers, and even seasoned professionals.

Volume 1: Become a Top Producer: A Study of Mortgage Agents, Originators and Loan Officers focuses on the traits, habits, and skills that make a successful mortgage officer.

Volume 2: Days 1-100 as a New Broker, Building Lasting Foundations and Surviving in the Meantime focuses on laying the foundations that lead to long-term success.

The final part of the series, Volume 3: Detailed Mortgage Loan Origination Skills and Scripts is a step-by-step guide to client management skills.

Books for Mortgage Loan Officer Personal Development

While reading industry-specific mortgage loan agent books is definitely beneficial, general business books covering everything from marketing to leadership skills can offer a wealth of knowledge to help you grow and reach the business success you strive for.

Here we offer a selection of some of the top business books for mortgage loan officers.

The Catalyst

Change can be difficult for anyone to accept, but change is a big part of every day. Marketing professionals want to change a customer’s mind, while nonprofit organizations want to change the world. But working to help someone change isn’t easy. The Catalyst, by Jonah Berger, addresses the fact that pushing harder or providing more information isn’t always what works. Instead, a catalyst works to remove the roadblocks to change, asking the question, “What is stopping someone from change?” This book provides a powerful way of thinking that produces extraordinary results.

Identity Designed

Every business is defined by its branding. For example, you see the golden arches, and your mind turns to French fries and Quarter Pounders. If you are just starting out, looking to update your website or social media presence, or looking to do a full brand relaunch, Identity Designed looks at the importance of brand identity. It covers everything from conducting research, defining strategy, generating ideas, developing touchpoints, and futureproofing your designs.

Unleashed: The Unapologetic Leader’s Guide to Empowering Everyone Around You

Francis Frei, a professor at Harvard Business School, and Anne Morriss, executive founder of the Leadership Consortium, co-authored this book. This challenges you to look beyond yourself as a leader and focus on the real leadership challenge of helping your team members unlock their full potential.

Post Corona: From Crisis to Opportunity

NYU Business School professor Scott Galloway looks at how the COVID pandemic disrupted personal and professional life as we knew it and what potential opportunities may lie ahead as a result. Post Corona provides business insight, including both warnings and hope for our new future.

The Age of Influence

In today’s world, social media plays a vital role in almost every person’s life, and tapping into the world of social media is essential for any successful business. The Age of Influence, written by internationally recognized social media marketing expert Neal Schaffer, explains how social media and influencer marketing can help turn your clients into influencers and how to successfully grow your brand using social media.

Growth is the Key to Success

A successful mortgage loan officer is always willing to do whatever it takes to grow their business. Whether diving into the books listed above to increase their knowledge or striving to generate more leads and increase customer relationships, a good officer is always looking to grow their business.

If you are looking for other ways to help grow your business, the Good Vibes Squad is here to help. Contact Good Vibes Squad today for more information.

10 Best Books for Mortgage Loan Officers was first published on: goodvibesquad.com

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