Recruiting Top-Performing Loan Officers: A Strategic Approach for Mortgage Companies

Recruiting can be a daunting task in the mortgage industry, as every day recruiters are lighting up inboxes, DMs, and phones with offers to join a company that offers something different than the “typical mortgage company,” but getting in front of LOs in 2024 can feel impossible. They are tuned out of the rhetoric, and if you are lucky enough to be granted an audience with a producer, you better have your plan ready!

So, how can you be ready before your call? Our team believes that the more information you have about your candidate, the stronger your offer will be.

Understanding Your Audience: Loan Officers (LOs) who consistently produce $25-50M in sales annually are high-performing professionals seeking growth opportunities, competitive compensation, and a supportive work environment. Please recognize that these LOs are likely inundated with recruitment offers, so it's crucial to stand out from the competition and offer compelling incentives

Create an avatar of the LO

Tricks to Get in Front of LOs:

Personalized Outreach: Craft customized emails or messages tailored to each LO's achievements and career goals. Highlight how your company can offer unique opportunities for advancement.

Referral Programs: Leverage your existing network of LOs or industry contacts to refer top talent. Offering referral bonuses can incentivize them to recommend qualified candidates.

Social Media Engagement: Utilize platforms like LinkedIn to engage with LOs, share industry insights, and showcase your company's culture and opportunities. Targeted

Advertising: Invest in targeted online advertising campaigns to reach LOs actively seeking new career opportunities.

Researching Candidates:

LinkedIn: LinkedIn is a valuable tool for researching potential candidates. Review their profiles to gain insights into their experience, achievements, and professional network.

Industry Publications: Stay informed about industry trends and top performers by reading mortgage industry publications, such as Mortgage Professional America or National Mortgage News.

Company Reviews: Research candidates' previous employers and review sites like Glassdoor to gain insights into their work experience, company culture, and leadership style.

Professional Associations: Explore memberships in professional associations like the Mortgage Bankers Association (MBA) or the National Association of Mortgage Brokers (NAMB) to connect with qualified candidates and stay updated on industry news.

Compelling Offerings:

Competitive Compensation: Offer competitive base salaries, commission structures, and bonus incentives to attract top-producing LOs.

Training and Development: Highlight opportunities for professional development, training programs, and mentorship initiatives to support LOs in achieving their career goals.

Technology and Tools: Showcase advanced technology platforms, CRM systems, and marketing resources that streamline the loan origination process and enhance productivity.

Company Culture: Emphasize your company's values, culture, and commitment to employee well-being. A positive and supportive work environment can be a significant factor in attracting and retaining top talent.

Building Relationships:

Follow-Up: Regularly communicate with potential candidates to nurture relationships and keep them engaged throughout recruitment. WHY videos of successful LOs in their market/those with similar business models Core value & why videos from leadership Comprehensive recruiting omnichannel messaging CRM campaign “retire here” campaign Landing page Personalized growth strategy instead of offer First 90 days success plan Solve their problems

Feedback Loop: Solicit feedback from candidates about their recruitment experience and use it to improve your recruitment strategies and processes continually. Long-Term

Engagement: If a candidate is not immediately available or interested, maintain a relationship for future opportunities. Building a pipeline of top talent ensures you're prepared to fill positions as they become available.

By implementing these strategies and staying proactive in your recruitment efforts, you can successfully attract and retain top-performing loan officers who consistently drive sales and contribute to the success of your mortgage company. This is a segment for a longer presentation full of coaching and ideas for building out your tech to support your recruiting efforts. For more information, contact Octo Strategies .