Dave Chung is co-founder and managing director of
CreditXpert Inc., a national mortgage credit software company. Combining a background in engineering with nearly
20 years of experience in the credit software industry, Chung
oversees Credit Xpert’s business fields and user experience.
Reach Chung at info@creditxpert.com.
How to Shine in This Job Market
Originators can stand out among their peers when looking for the next opportunity
By Dave Chung
If you’re a mortgage originator thinking about your career, the ever-changing job market and recent layoffs in the industry may leave you wondering: How can I enhance my personal brand at my current company? How can I make myself more valuable
to employers? How can I stand out in an increasingly
competitive job market when I am seeking a new
opportunity?
With the right tools and strategies, originators can
stand out from their peers. Homebuying is a process
like no other, fraught with stress and excitement all at
once. Getting through that process is no small feat —
and mortgage originators play a pivotal role in ensuring success. The most successful originators invest
time and effort to carefully evaluate each borrower’s
financial history to determine the best loan options.
For this reason, mortgage companies seek out high-caliber, caring candidates to join their teams.
The job market may fluctuate along with the
economy, but the right opportunity is out there for
every mortgage originator, especially with demand
expected to grow. The U.S. Bureau of Labor Statistics
reported that the market for loan officers is expected
to grow by 11 percent between 2016 and 2026, contributing an additional 24,500 jobs.
Wondering how you can stand out as one of those
sought-after candidates, as well as among your peers
in the workplace? Following are some tips, tools and
strategies.
Empower and educate
A variety of tools exist that can make mortgage originators more effective in their roles, setting them apart
from peers and making them more attractive to employers. Communications technology, for instance, can
help them help connect with clients more efficiently.
More specialized tools, available through all credit-report resellers, can empower originators to get the
best possible loan for their clients and better evaluate
the person behind the numbers. These specialized
mortgage software tools give savvy loan originators a
leg up, helping them provide clients targeted advice
so they can improve habits now and sustain positive
credit behavior in the future.
Lenders and loan originators alike are in a unique position to educate clients, so naturally many companies
want to ensure they employ the best and the brightest.
Understanding credit scores is basic industry knowledge. Borrowers generally don’t have the same level
of understanding, however, nor do they know how to
improve those scores.
Be a trusted adviser by educating your clients on
how their actions now can affect their scores in the
future. Even better, anticipating how credit can evolve
over time shows industry acumen that employers
actively seek.
These actions not only help you show value to your
client, it also leaves clients better equipped to build
credit and qualify for the best loans, so you can expand
the pool of qualified borrowers and give consumers a
pathway to access their dream home.
Relate and cultivate
While technology continues to transform the way
mortgage professionals conduct business and connect with borrowers, it will never replace the value of
human interaction. Many customers aren’t sure where
to start when it comes to the homebuying process
or even in understanding their credit profiles.
Mortgage originators who exhibit the ability to relate
to their clients and show them that their concerns and
questions are being addressed are successful and get
the most referrals. In a service industry like this, perfor-
mance rates are a strong indication of skill.
Acquire referral relationships with real estate agents
and customers by demonstrating a service- and
results-oriented approach. Real estate agents want to
send their clients to originators who will go to bat for
them and reliably get them a good loan — even when
others can’t or won’t.
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