WHAT TO LOOK FOR IN A LOAN OFFICER

I was asked this morning about how you know if you have a good loan officer. Obviously the first rule is to call me. Then you know you are talking to the best. But, if you honestly must know, I figured I would share the things I look for when interviewing new Loan Officers for our company.

License. I know it seems like a no-brainer, but believe me, you would be shocked at how many people try to pose as a loan officer prior to getting a license.

• Knowledge. You don’t necessarily need someone who knows every possible detail, but there is no excuse for blatant ignorance. Think of your own job, you probably don’t know every single thing there is about your industry, but you probably know more than the average joe. Look for the same in your loan officer
• Honesty. I realize it may be hard to gage, but you need to find someone who you are confident will be honest with you. Getting a home loan can be difficult, and there are many variables that can cause problems or require changes. An honest loan officer will be up front with you about the challenges—particularly when underwriting conditions make things difficult.
• Responsive. I have some client who expect a phone call at least twice each day with updates, but most simply want to be kept updated with any changes or progress. Look for a loan officer who is quick to respond to your calls and questions.
• Descriptive. Loans can be complex, therefore, it is always a good idea to have a loan officer who can adequately explain any nuances or variances that may be applicable to your loan. If they can’t make it crystal clear for you there is a good chance that it isn’t crystal clear to them either.

When all else fails, or if you just want to skip the headaches all together, drop me a line.