Originators have a significant impact on the psychological emotional, and financial well-being of every consumer they interact with and it stays with them well beyond the closing. Let’s also not forget impact on our bosses, co-workers, real estate referral and other partners and our companies! We believe this is such a neglected topic, we made the first episode in the Mortgage Professional Practices program, IMPACT- Psychological, Emotional and Financial Impact, Empathy in Mortgage Transactions.
Real education is critical. I am not talking about marketing, sales or social media, how-to-get-business education, I am talking about what to do once you have the business!
The cost of NOT educating originators on Mortgage Professional Practices is huge. There are way too many touches on files, sale-ability issues, repurchase risks, consumers being dragged through transactions, companies and MLOs incurring unnecessary reputational risk, and all leading to decreased profitability. Don’t take my word for it. Just take a look at some of the questions from MLOs on social media! They are begging to learn and don’t understand the WHY in lending!
In 2013, we co-authored an online origination course for the Mortgage Bankers Association. Of the thousands of students who attended, and hundreds that wrote testimonials, one always stood out and it continues to drive me every day!
One student emailed me, “With having over 24 years of Mortgage experience, this course…is Awesome. I was a little reluctant in taking the course at the beginning because I was thinking to myself ‘I do not have time to take this training’…adding something else to do during my day, especially on things I already know… LOL! However, once I got into the course, started reading the material and…watching the webinars, I became thoroughly engaged. This information was relevant and much needed. I also had several ‘aha’ moments on what some things are and why we do certain things the way we do. All in All, Great Course…I know some of us old heads in the business can be challenging but…but, we really do appreciate what you are doing. Thank you and much continued success.”
And that is why for 20 years my passion has been writing and teaching originators.
So, “where have you been, Deb?” For the past 18 months, I locked myself in my office, handcuffed to my desk, writing, writing and writing, recording, recording and recording! All things, ALL originators! Mortgage Professional Practices, PE, CE, BSA/AML, NMLS Testing Strategies…for Banks, credit unions, lenders, brokers, correspondent. We have just scratched the surface. We are committed to raising the level of professionalism and knowledge for the entire industry! we know, it’s a BHAG…big hairy audacious goal…but one we are committed to!
With so much focus on fast approvals, via speedy technology, 10 day closings…have we forgotten about the customer? Most mortgage businesses know what to do to get new originators licensed. But what about real, day-to-day business practices? I am talking about the knowledge none of us ever really got because it didn’t exist…until now!
Licensing is only the beginning. Now Registered originators can benefit from the knowledge that state-licensed originators were forced to learn and then some. Upgrade to Higher Earning!
So, what do originators need after their NMLS status changes to approved?” Learn more: firstname.lastname@example.org.