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Posted about 10 years ago

10 Mortgage Loan Officer Skills That Prepare Them For Variety Of Jobs

I'm not sure how much literature there is on this subject, and I'm not in human resources, but I've always had a sense that the skills required to be a successful mortgage loan originator could transfer to many different positions across a variety of industries (of course, as a mortgage loan originator, I have a bias). Lets first examine the tasks that a typical mortgage loan originator is required to complete / handle on a regular basis, and then we'll look at how those tasks result in skills which could position these people to become great employees within other industries. A successful mortgage loan originator must perform all of the following tasks on a regular basis:

  1. Make / handle sale calls and craft persuasive emails to obtain clients.
  2. Present financial data to customers both verbally and in written format.
  3. Use multiple different software systems.
  4. Examine financial data and make recommendations depending on the data.
  5. Examine "layered credit risk" as a whole, and present a file accordingly.
  6. Save / label borrower data in separate email folders and computer files.
  7. Monitor current events that can affect mortgage rates.
  8. Continually study mortgage guidelines (which change rapidly).
  9. Handle verbal attacks / complaints from borrowers and referral sources.
  10. Meet deadlines that could result in destructive situations if not met.

Thinking about this from purely from a recruiting perspective, a person that can show a history of success as a mortgage loan officer should already have the following skills:

  1. Verbal and written sales skills, along with the ability to overcome objections
  2. Ability to explain complex information in a more simplified way
  3. IT skills and the ability to quickly adapt to new software
  4. Analytical / quantitative analysis skills (numeracy skills)
  5. Qualitative analysis and creative thinking skills
  6. Organizational skills
  7. Self-motivation skills
  8. Research skills
  9. Self-control skills and the ability to detach
  10. Mental skills required to cope with pressure

In summary, a mortgage loan originator must be a self-motivated, sales-oriented, problem-solving machine that can use IT to analyze complex numerical data and organize files in creative / persuasive ways that "tell a story" to meet critical deadlines, all while being capable of maintaining self-control and occasionally "take it on the chin".


Comments (2)

  1. I think most jobs in the RE industry use pretty much the same skill set. Ive known several realtors who went on to be loan officers. Ive known several loan officers who went on to be realtors.


    1. Agreed!