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#117860 - 01/27/06 01:13 PM What is your day like as a Loan Officer?
lovethecrue Offline
Member

Registered: 12/20/05
Posts: 29
Loc: New York
What is your day like? How many calls, emails, mailings do you daily? How many calls do you get daily?

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#117861 - 02/02/06 08:12 AM Re: What is your day like as a Loan Officer?
Van Richardson Offline
Junior Member

Registered: 02/02/06
Posts: 4
Loc: Washington, D.C.
I'd say anywhere from 50-100 calls a day with around the same amount of emails streaming in throughout the day. Very stressful, but if I wasn't getting the calls/emails, there would be a bigger problem.
_________________________
Van Richardson

Senior Loan Consultant
First Guaranty Mortgage Corp.
8180 Greensboro Dr., ste. 500
McLean, Virginia 22102
Toll Free: (800) 282-1281 ext. 4921
Direct: (703) 637-4921
eFax: (877) 851-6337
Email: vrichardson@fgmc.com

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#117862 - 02/03/06 04:53 PM Re: What is your day like as a Loan Officer?
Greg Phillips Global Moderator Offline
Mortgage Professional
Veteran Member

Registered: 01/26/05
Posts: 1123
Loc: Chillicothe, Ohio
Non-Stop. I take 2 5 minute breaks to just stop thinking. Some days I do take lunch but I am isolated to my office trying to get loans done.

I get about 40 emails a day to as high as 250. I try to fully inform my customers of what to expect and give them time frames from other loans. It tends to limit inbound.

I try to hit people with the answers to their questions before they need to call.

When I do mailers I send about 250-300. It is current loans and applications I had.

I rarely send solicitation. Just information. It is something of value. Selling is ok but not personable.
_________________________
Greg Phillips
Manager
Fairfield Mortgage Company
"Servicing all 50 states"
Web: Home Forums Blog

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#117863 - 03/03/06 08:49 AM Re: What is your day like as a Loan Officer?
AZLender Offline
Member

Registered: 02/20/06
Posts: 495
Loc: Mesa, Arizona
STRESSFUL!!!!!!!!

1) Coffee (Lots)
2) Update Market Data as it applies to mortgage rates
3) Phone calls (CEA's, borrowers, processors, underwriters)
4) Update rates
5) More coffee
6) Print 1003's from website, upload to calyx
7) Call borrowers
8) Take FULL loan app., convert to Encompass
9) Send out RESPA's
10) Distribute leads
11) Update contact management software
12) Update borrowers who have not locked on market conditions, 10 year trends, Federal Chairman Ben Bernanke's rate hike forecast.
13) More Coffee
14) Call my FSBO clients for updates (how the sign is working out, etc), inform them of pre-approved borrowers
15) Pre-Approvals
16) LSR's for those using realtors
17) Update website w/ market conditions & any mid day rate changes
18) View performance reports on my processors, underwriters, LO's, & Sr. LO's
19) Afternoon meeting
20) Help processors, order title, appraisal, HOI, update mortgagee clause, clear PTD's
21) More coffee

This is just off the top of my head on a GOOD day.
_________________________
Mesa Foreclosures

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#117864 - 03/03/06 10:38 AM Re: What is your day like as a Loan Officer?
AZLender Offline
Member

Registered: 02/20/06
Posts: 495
Loc: Mesa, Arizona
22) GLBA Compliance security measures
23) HMDA Reports
24) File Audits
25) Regulatory and Operational compliance code issues
26) Marketing inventory/cost effectiveness
27) Balance Sheets
28) Monthly P & L
29) Taxes
30) Accounts receivable/payable
_________________________
Mesa Foreclosures

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