Starting Out as a New MLO – Looking for Advice on Generating Leads
Member since 2022 · 8 posts · 1 vote
Hi everyone,
My name is Jiacheng (Nic) Liu, and I’m a recently licensed Mortgage Loan Originator with Standard Mortgage Capital (Rize Mortgage). I’m also a high school physics teacher at Divine Savior Academy here in Doral, FL, and I’ve lived in the area for about five years. Originally from Shanghai, China, I’m fluent in Mandarin, which allows me to connect with both English- and Mandarin-speaking clients.
👉 What are some of the best ways you’ve found to build your first leads as a new MLO?
👉 Are there specific strategies, tools, or community connections that helped you gain traction early on?
👉 How do you balance building trust while you’re still new to the industry?
I’d really appreciate any advice, tips, or stories you’re willing to share. Excited to learn from this community and grow in the right direction!
Thanks in advance
Hi @Jiacheng Liu. I'm a Principal Broker in Florida. It is very rare to find good bi-lingual loan officers in any language. You have a massive advantage over other MLOs. I try to really get to know our MLOs so I can understand where their business is going to come from. For instance, we have one newer MLO that is married to a very active realtor that does speak a 2nd language. If he even gets a portion of his wife's buyers, he'll do quite well. I have another MLO that just came on board on Friday, but she's working on a team that's closing 25ish loans/mo. The team lead is great at driving in business, but needs help in doing preapprovals and clearing underwriting conditions. This new MLO is going to learn on the job by taking on simple tasks while she learns in exchange for a portion of the revenue. Both of those situations came to mind when I read your post. To answer your bullet points:
* For leads, try unconventional sources, not just social media and realtors. With your physics background, do you know civil engineers or architects? Perhaps you can work with them on financing small builders with the construction loans and then, when they get the CO, be the "preferred lender" on the takeout loan. How about financial advisors? Attorneys? Don't just rely on the same thing that everyone else does.
* For Community Connections, I've found REIAs and RE Meet Ups to be somewhat of a waste of time. Look for industry meet ups outside of real estate or lending. Again, architects, builders, divorce attorneys, and financial advisors provide a different lead set. How about banker meet ups? There are a lot of things bankers can't/won't do that you can.
* A huge part of trust is simply answering the phone, doing what you say your going to do, and know your guidelines inside and out. Few MLOs take the time to study guidelines. Know where to look things up that you don't know. Be available. Finally, find a great mentor. If you don't have someone that will answer their cell on the weekends...get a different mentor/broker.
I could go on all day long, but welcome to the Florida Lending Club!
Hi @Jiacheng Liu. I'm a Principal Broker in Florida. It is very rare to find good bi-lingual loan officers in any language. You have a massive advantage over other MLOs. I try to really get to know our MLOs so I can understand where their business is going to come from. For instance, we have one newer MLO that is married to a very active realtor that does speak a 2nd language. If he even gets a portion of his wife's buyers, he'll do quite well. I have another MLO that just came on board on Friday, but she's working on a team that's closing 25ish loans/mo. The team lead is great at driving in business, but needs help in doing preapprovals and clearing underwriting conditions. This new MLO is going to learn on the job by taking on simple tasks while she learns in exchange for a portion of the revenue. Both of those situations came to mind when I read your post. To answer your bullet points:
* For leads, try unconventional sources, not just social media and realtors. With your physics background, do you know civil engineers or architects? Perhaps you can work with them on financing small builders with the construction loans and then, when they get the CO, be the "preferred lender" on the takeout loan. How about financial advisors? Attorneys? Don't just rely on the same thing that everyone else does.
* For Community Connections, I've found REIAs and RE Meet Ups to be somewhat of a waste of time. Look for industry meet ups outside of real estate or lending. Again, architects, builders, divorce attorneys, and financial advisors provide a different lead set. How about banker meet ups? There are a lot of things bankers can't/won't do that you can.
* A huge part of trust is simply answering the phone, doing what you say your going to do, and know your guidelines inside and out. Few MLOs take the time to study guidelines. Know where to look things up that you don't know. Be available. Finally, find a great mentor. If you don't have someone that will answer their cell on the weekends...get a different mentor/broker.
I could go on all day long, but welcome to the Florida Lending Club!
Thank you so much for your reply. What's the best way to learn all the guidelines? Since I am brand new to this. I would like to learn as much as possible.
Hi everyone,
My name is Jiacheng (Nic) Liu, and I’m a recently licensed Mortgage Loan Originator with Standard Mortgage Capital (Rize Mortgage). I’m also a high school physics teacher at Divine Savior Academy here in Doral, FL, and I’ve lived in the area for about five years. Originally from Shanghai, China, I’m fluent in Mandarin, which allows me to connect with both English- and Mandarin-speaking clients.
👉 What are some of the best ways you’ve found to build your first leads as a new MLO?
👉 Are there specific strategies, tools, or community connections that helped you gain traction early on?
👉 How do you balance building trust while you’re still new to the industry?
I’d really appreciate any advice, tips, or stories you’re willing to share. Excited to learn from this community and grow in the right direction!
Thanks in advance
Hi everyone,
My name is Jiacheng (Nic) Liu, and I’m a recently licensed Mortgage Loan Originator with Standard Mortgage Capital (Rize Mortgage). I’m also a high school physics teacher at Divine Savior Academy here in Doral, FL, and I’ve lived in the area for about five years. Originally from Shanghai, China, I’m fluent in Mandarin, which allows me to connect with both English- and Mandarin-speaking clients.
👉 What are some of the best ways you’ve found to build your first leads as a new MLO?
👉 Are there specific strategies, tools, or community connections that helped you gain traction early on?
👉 How do you balance building trust while you’re still new to the industry?
I’d really appreciate any advice, tips, or stories you’re willing to share. Excited to learn from this community and grow in the right direction!
Thanks in advance
Thank you so much for taking your time to answer my questions. Any tips on how to learn all the guidelines as a brand-new person in the industry?
Hi everyone,
My name is Jiacheng (Nic) Liu, and I’m a recently licensed Mortgage Loan Originator with Standard Mortgage Capital (Rize Mortgage). I’m also a high school physics teacher at Divine Savior Academy here in Doral, FL, and I’ve lived in the area for about five years. Originally from Shanghai, China, I’m fluent in Mandarin, which allows me to connect with both English- and Mandarin-speaking clients.
👉 What are some of the best ways you’ve found to build your first leads as a new MLO?
👉 Are there specific strategies, tools, or community connections that helped you gain traction early on?
👉 How do you balance building trust while you’re still new to the industry?
I’d really appreciate any advice, tips, or stories you’re willing to share. Excited to learn from this community and grow in the right direction!
Thanks in advance
Thank you so much for taking your time to answer my questions. Any tips on how to learn all the guidelines as a brand-new person in the industry?
I'm not in the lending business so I can't give specifics on learning all the guidelines other than to find a mentor in your office who will allow you follow along as they are working on specific deals. Then, if you are monitoring blogs like Bigger Pockets and questions about lending come up that you do not know the answer to, share the question with your mentor.
Google and Bookmark the selling guides for Fannie Mae, Freddie Mac, and FHA. The broker or lender you are working should also have guidelines for you to review and learn. If they don't, find another group to hang your license with.