Don't Use the Loan Officer

Don't use the loan officer that always answers their phone. Use the loan officer that acknowledges your call, and gets back to you when they say they will (quickly).

The loan officer that ALWAYS answers their phones (evenings, weekends, holidays, etc) has no work-life balance, and probably not enough business to keep them from the phone. That's not a good thing. A busy professional working with a lot of clients and partners ISN'T ALWAYS AVAILABLE. Instead, look for someone that responds quickly, acknowledges your call or email with a note that they'll respond soon, and someone that actually does what they say. Otherwise, that LO that 'always answers the phone' is going to disappear the moment they get busy.

Don't use the loan officer that's available 24/7. Nobody works 24/7. Nobody. Even the 7/11 guy goes home sometimes A lot of loan officers (and sales people in general) over-promise and under-deliver when it comes to availability. A consummate professional will have boundaries, and have a life outside of sales. That loan officer that says they're available 24/7 is likely in a facebook group somewhere complaining about the fact that you bugged them on SuperBowl Sunday and then had the AUDACITY to shop them against another lender. Instead, work with a professional that will respect and adapt to your schedule, but more importantly than 24/7 availability, will call you when they say they will and not flake on appointment times and follow up commitments.

Don't use the loan officer that wants your "rejections". Sure, when a loan officer is getting established, this is often their only foot in the door. But asking for rejections is setting you, your loan officer, and your customers up for failure. The customer often ends up getting rejected TWICE (OUCH!), it sets you up to look back to your client who you promised false hope, and it makes a potentially good loan officer look bad when they can't deliver. I'm not saying to not ever try to work around a 'no'. But when someone leads with that as their delivery or "value", it's often because they don't offer anyone else. Instead, work with someone that's not afraid to get their hands dirty with your difficult clients, but wants to show off their amazing loan process for your A+ clients, too. Personally, I work with any type of client - perfect credit or terrible credit, large loan amount or tiny loan (my range last year was from $85,000 to $1.5 million) ----- but if you're going to send me your 'rejections' that the other lender wouldn't do, you'd better be sending me your 800 FICO, 20%+ down payment clients as well.

Don't use the loan officer with the lowest rates. Hear me out - OF COURSE you want the best rate for you (or your clients). But when a sales person starts off with being the cheapest - you can all but guarantee they're also not the best. In mortgage finance, you want a competitive offer and a competent professional helping you - you CAN get both, but what you can't get is a competent professional that's an expert in their field for the cost of a recent high school grad with a headset and a script.

Don't use the loan officer that tells you how much they care. You've seen it on social media. The persistent #humblebrag that leaves you wondering if they really care about their clients, or are just using them for marketing. Instead, work with the loan officer that shows you they care. Your loan officer should offer their time, their expertise, their patience, and yes, their gratitude - but it shouldn't be to showcase what they did for you to the world. If you were truly thrilled with them, that's your job and your job alone. Instead, work with a loan officer that shows you they care through their actions. How do they help you when there's nothing in it for them?

Your loan officer is your literal key to your home and the financing for what may be the biggest investment of your life. They're also a person - with a family, hobbies, and a schedule outside of work. If you want a loan officer that's going to guide you for the life of your loan and beyond, work with one that's set up their business to accommodate that. Demand great communication, honest information, and stellar service. Expect delivery on promises. But don't work with the loan officer promising 24/7/365, because they can't (no one can) deliver.