Modern Loan Officers Need a New Playbook: Introducing the Modern Lending Playbook

Is the term ‘Modern Lender’ a marketing slogan or is it a true shift in how the mortgage industry will originate loans in the days ahead? In my last blog, entitled “The Rise of the Consumer” I explored my thoughts on how consumer demand will force a change to our existing business models. But how are ‘Modern Lenders’ “leaning in,” so to speak, to achieve these changes?

What I’ve seen on a broader front is a continued focus on local loan professionals to build relationships with the usual and customary referral partners such as Realtors, builders, financial planners and other intermediaries that have historically provided consumer leads for mortgage finance (and refinance). This has been the primary industry training model used in countless seminars, events and articles that form the foundation of a retail loan originators’ business practice. And, while I would argue that it is still an important and valuable strategy, today’s consumer has more access—and, more important, more interest in driving their home buying and refinance decisions. This significant change in consumer behavior will require successful loan originators to explore new approaches to pursuing consumer relationships.

Here at loanDepot, this is something we’ve been thinking about—and ideating on—for a long time. We have some of the best and brightest leaders and thinkers in the industry, all focused on the same long term goal: Assisting homebuyers in achieving their dreams of homeownership. To that end, we have created something unique to the industry and invaluable to the determined retail loan originator: The Modern Lending Playbook.

As we have long maintained, we only have two customers in the mortgage industry: Every U.S. homeowner and every U.S. customer who wants to be a homeowner. So how can today’s loan originator successfully cast their net to capture a wider expanse of lead opportunities and begin to gain the trust of the customer at every level of the funnel? Our Modern Lending Playbook has the answers.

It all begins with being associated with a powerful national brand. Well, if you have any hope of making a significant impression on today’s home-shopping customer. Then, you need to think about how you plan to leverage your local presence. And, as I mentioned earlier, the same old/same old isn’t going to cut it. Our Modern Lending Playbook provides originators with a new, unique perspective that blends technology, social media and a fresh approach—enabling you to cast a wider net and capture new prospects while at the same time nurturing established relationships. But to truly be successful, today’s originators must execute on all of the activities outlined in the Playbook so that they can better understand how to navigate the places where today’s customers go and how you can best make yourself visible to them. Because, at the end of the day, the aggregation and conversion of leads is more important than your product competency.

If you are a mortgage professional who wants to win in the days and years to come, first, find a company that is devoted to the exploring the future of consumer behavior like we are here at loanDepot. Then, make sure that they have the technology and the tools that will enable you to be successful, and by successful, I mean, dominate in your local arena. If that’s not happening for you now, I’d suggest that you check out our Modern Lending Playbook. It’s just another reason why you should be with exploring your future with us.