13 things Loan Officers wish the agents they work with would consider, understand, do or NOT do.
Like marketing & sales, sometimes the relationships between agents and Loan Officers can be love & hate. From an ecosystem perspective, they are essential to one another, yet there can be tension.
I chatted with some LO’s I know to get their top “I wish” list items. They have an average of 16 years in the business, none with less than 12, so I think we can consider them experienced. (Note: these are California based Loan Officers, so the loan process or relationship could differ based on where you live.)
Interestingly, a number of the comments revolved around communication. I once had a boss that told me “it’s only effective communication if the other person understands it the way you intended”. Very true. And, communication is two-way, so it probably pays to clarify.
I wish the agent …
… understood calling me several times a day for status updates doesn’t actually speed things up.
… would NOT quote rates or recommend program types without speaking to me first. If they get it wrong it’s an awkward start to a relationship with their client.
… knew that when I go back to the client time after time for additional paperwork to meet conditions, it’s the Lender asking time after time (and often at the 11th hour) … I have my stuff together!
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