8 Habits of a Top Performing Mortgage Loan Officer

mortgage loan officer

If you’re wondering if you have what it takes to become a successful mortgage loan officer (MLO), the answer can be found in your habits. Are you managing your time wisely? Do you have a business plan? When was the last time you networked? These are among many strategies you can implement to become a more effective MLO.

Here’s a list of the top eight ways to find success as a mortgage loan officer:

1. Face the day with determination

First thing’s first – to be successful as an MLO, you’ll need to set the bar for a high level of performance. This means setting goals – both long and short-term – and maintaining the drive to achieve them.

2. Act like a project manager

To-do lists are your best friend. A successful loan officer is also a master of time management and extremely organized. With the many moving parts from day to day, the last thing you’d want is to let something fall through the cracks.

3. Focus your product

Effective MLOs choose a niche such as a loan type or personal circumstance. Having a specialty will allow you to stand out as an expert in your field, gives you a competitive edge and helps strengthen your marketing, which takes us to the next habit…

4. Establish a marketing plan and stick to it

You’ll easily stay afloat without a business plan in an “up” market, but when market conditions take a turn for the worse, so will your business. After you’ve established your niche, devise a marketing plan and stick to it – but don’t be afraid to change it up! You should revisit your mortgage business plan on a quarterly basis.

5. Maintain integrity in your work

Odds are, as a mortgage professional, you’re also a people-person. To find success working with people on a day-to-day, you’ll want to be a trustworthy partner and uphold a high level of moral standards.

6. Be a student of the game

Your mortgage lending education never ends. You should practice the fundamentals daily, and don’t take shortcuts in your work. Seek out learning opportunities by determining areas you want to improve, then act on them. Learn from pitfalls that you and others have experienced.

7. Network often

Building and sustaining relationships is arguably the most important habit for success. It is vital to establish a good rapport with key individuals, including (but certainly not limited to) real estate professionals, educational institutions, and past/current/potential customers.

8. Stay positive

As any successful entrepreneur, you’ll want to have a high level of confidence when approaching work as a mortgage loan officer. Your mindset directly affects your success – begin to consider your challenges instead as opportunities.