Loan originators, also known as mortgage loan originators or MLOs, are responsible for helping clients apply for and receive a loan. The loan origination process often starts with filling out the loan application and ends with a closing. Most Atlanta loan originators handle 2-3 loans per month, while a successful MLO strives for more.
Becoming a loan originator can be a fulfilling career choice that comes with many great benefits including high pay, a flexible schedule, and the ability to help others. While all of these benefits sound great, working as a loan originator is a difficult job and can be stressful for some people. If you’re looking to become a successful mortgage loan originator, then some important character traits will help you during your career. While anybody can learn how to become a loan originator, great MLOs tend to have the following traits:
Honesty & Trustworthiness
As a mortgage loan originator, you’ll handle hundreds of thousands of dollars annually. Because of this, it’s essential that your borrowers trust you to maintain a successful business relationship. Luckily, there are several things you can do to build trust with your borrowers.
First and foremost, be honest with them. If they ask you a question, give them a straight answer, even if it’s not what they want to hear. Honesty will go a long way towards building trust. Secondly, be transparent in your dealings with them. Let them know what you’re doing and why you’re doing it. Even if they don’t understand every detail, they’ll appreciate the transparency. Finally, offer advice and customization. Every borrower has different needs, so explain the best practices for each client and let them know that you’re always available to help them with any questions or concerns they may have.
By following these tips and being honest with your borrowers, you’ll be well on your way to building a reputation as a trusted mortgage loan originator.
Knowledge & Confidence
The mortgage loan industry is complex, and the best loan originators are those who have a deep understanding of the various financial products and industries. They know how to explain complicated concepts to their customers and can quickly solve any problems that may arise. In addition, they’re always up to date on the latest changes in the industry, which allows them to provide the best possible services.
If you’re interested in becoming a successful loan originator, you must possess this expertise and knowledge. While you may be able to gain some of this experience through on-the-job training, taking courses from an accredited institution can give you the foundation you need to be successful in this competitive field. At the Capstone Institute, we offer loan originator training courses to help you start your career or to help you keep up to date on the newest changes in the industry.
Sales-Minded & Driven
Being a successful loan originator requires more than just industry knowledge and experience. To be successful, loan originators must also be sales-minded and disciplined. Top MLOs are always working on expanding their list of prospects and staying on top of their results. They enjoy working with people and are always prepared with a game plan. If you want to be a successful loan originator, you can’t afford to procrastinate. You need to be constantly meeting new goals and always asking for new referrals. Always stay positive when working with clients and give 100% at all times. Keep these things in mind and you’ll be well on your way to success.
Become a Loan Originator with Help from Capstone Institute
Mortgage loan originators are an essential part of the home-buying process, and they work with potential borrowers to help them secure the financing they need to purchase a home. If you’re interested in becoming an MLO, there are certain courses you must take first. Most loan originators must have an NMLS requirement and take CMS mortgage training courses. Luckily, these courses are available at Capstone Institute.
Join the 65,000 loan origination and loan processing graduates that we’ve helped over the past 30 years. We provide online classes for any student and offer classroom-style courses at our Atlanta location. Learn more about our training courses and start your career as a loan originator by calling us today at 888-254-3431