How to Train a New Loan Processor
by Peak Performance Coach, Stephanie Graham




















Deciding what route to take with new loan processor training can be a tough choice. Even with a corporate trainer on board, your processor will still need resources and support to become proficient. While you may get some mileage from the typical “watch and learn” approach, it certainly has its flaws. It is true that your processor can be exposed to the basics by shadowing an experienced team member. Yet, essential loan processor skills such as critical thinking, time management and personal efficiency often fall by the wayside with the “watch and learn” method. Loan processors have the greatest opportunity for success when they have clarity about both the “what” and the “why” of loan processing. 

Hi! I am Stephanie Graham, the Peak Performance Coach here at Complete Mortgage Processing. For more than 30 years, I have helped finance industry professionals take their careers to the next level. I first learned about the loan processing dilemma while working as a wholesale account executive in the mid-1990's. I found that a huge percentage of the denials and delays that by my brokers experienced could be attributed to poor loan processing. Realizing that a mortgage company’s success or failure could hinge on the quality of their loan processing inspired me to make it my specialty.

So what do you do when you need to train someone or be trained in loan processing? My best recommendation is that you combine internal training with an external resource that the trainee can access whenever and wherever they need to. With plenty of support, the trainee can avoid these common loan processor traps:

1)They do not have what they need for processing and do not know how to obtain it. So, they wait or send an incomplete file to underwriting. Either choice causes unnecessary delays.

2)Approval conditions have been received but the processor doesn’t understand what the underwriter is asking or how to clear the condition. Another source of delays.

3)The loan processor is overwhelmed and can’t determine what to do first, what to eliminate, what to delegate or how to get help. When this happens, costly mistakes are just around the corner.

Is it possible to eliminate the chaos and confusion that is frequently associated with moving a loan from application to closing? Absolutely! Our Loan Processing Solutions course targets some of the most challenging issues we have observed over the years. It provides resources that can be implemented right away to achieve better results with loan processing. In addition to videos and digital downloads, students interact with the instructor in the way that suits their schedule best – either by phone or by email. After class has concluded some students still consult the instructor for advice on how to clear specific file conditions and more. 

Fast and efficient loan processing is easy when you have a plan in place. Register for our Loan Processing Solutions class to transform the way you process loans.




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