You may have heard about the benefits of being a loan originator, such as great benefits, high pay, flexible schedules, and the ability to help others. This sounds great, but do you have what it takes?
Loan originators, also known as mortgage loan originators, or MLOs, are responsible for helping people apply and receive a loan. This process often starts with filling out the application and ending with a close. Most Atlanta loan originators handle 2-3 loans a month, while a successful MLO strives for more.
Whether you are looking for the right loan originator for yourself or are interested in becoming a mortgage loan originator, there are certain characteristics you should look for.
A great loan originator will possess the following traits:
Honesty & Trustworthiness
Mortgage loan originators handle hundreds of thousands of dollars annually. It’s very important that they are trusted by their borrowers. A great way of building trust is to be honest and transparent. Loan originators communicate and offer advice, customizing and explaining the best practices for each family. MLOs are trusted by their borrowers, company, and community.
Knowledge & Confidence
The greatest mortgage loan originators are also very experienced and knowledgeable. They understand the loan and financial industries, and know how to explain difficult aspects to their customers. In addition, they are familiar with the ins and outs of the business, and are quick to solve issues when they arise. Having this expertise knowledge creates a level of confidence all successful loan originators possess, and it qualifies you for the job.
If you are just starting out in the financial and banking industry, you may want to take certain training courses, like Certified Mortgage Specialist For Originators. These classes will allow you to gain information and become certified for specific positions.
A successful loan originator is also sales-minded. He or she will be very disciplined, use a sales plan or presentation template, and constantly monitor and track results. Top MLOs have a huge list of prospects and take “no” for “not yet.” They enjoy working with people and always have a game plan. Successful loan originators do not procrastinate and are never afraid to ask for referrals. These professionals are like salespeople, meeting new goals for the day, week, month, and year.
Passion & Drive
What makes a loan originator most successful is his or her passion and drive. If you truly enjoy what you are doing, you will put in 100% effort, and it will show. A positive and powerful attitude will get you a long way in the financial industry. When you love what you do, you will show excellent customer service skills, and you will get results.
If you have what it takes and are looking to become a loan originator, there are certain courses you will need to take first. Most MLOs must have an NMLS requirement and take CMS mortgage training curriculum. These courses are available at Atlanta’s Capstone Institute. Join the 65,000 loan origination and loan processing graduates we have helped in the past 30 years. We offer online classes and classroom-styled courses at our Atlanta location. Learn more by calling today. 888-254-3431