Well we can't have that now can we?
Mortgage business is a numbers game. Take as many applications as you can knowing a lot of them are going to fall out or not even qualify.
My best success always came from taking late night applications (usually from the West Coast where people had lots of equity) while everyone else had already gone home for the day, increasing my chances of getting qualified borrowers.
Your job is to figure out within the first 2-3 minutes if the borrower is a qualified applicant, an information seeker or someone unqualified (a lot of first time home buyers fit those last two descriptions).
Anybody who gives even the slightest hesitation to having their credit pulled is immediately pushed aside until they are ready to move forward with that and finish the application..
Loan officers who work in what’s if’s always fall behind. The answer is always “Yes!” until it’s no (whether that be low credit, no equity or many other factors).
The more applicants you have the higher your potential closing percentages become.
Nights, weekends, holidays, working during big sporting events — really anytime most loan officers AREN’T at their desks is where the big money is made and separates the big money earners from the 9-5 hopefuls.
