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Mortgage Loan Officer Training: 10 Helpful Tips That Can Instantly Boost Your Income

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Well here they are… 10 mortgage loan officer training tips to improve efficiency and increase revenue. These tips have made me hundreds of thousands of dollars over the years and I’m confident they will do the same for you:

Mortgage Loan Officer Training Tip #1:

Only use a few lenders

Depending on your niche, all you really need is a few good lenders. With a portfolio of about five lenders, you can handle all credit grades and even special programs like stated, no doc and 100% financing.

Mortgage Loan Officer Training Tip #2:

Read your lender’s guidelines to build an intimate knowledge of their products and procedures – THIS IS A MUST!!! (And easy to do if you only use a few lenders.) Don’t rely on lender reps to tell you about their guidelines. They are human and can make mistakes just like the rest of us.

Mortgage Loan Officer Training Tip #3:

Send gifts to your appraiser, title agents, and underwriters to gain favor. This is a great way to build relationships with the people you rely on to do business. Look for a reason to send these people a thank you card along with a gift. This is another good reason to use only a few good lenders.

Mortgage Loan Officer Training Tip #4:

Define your market

What loans will you do and what loans will you not touch? You can and will cause yourself undue heartache if you agree to take a loan that is outside of your market. For instance, I refused to even look at a loan unless the borrowers had a credit score of 580 or higher. If an applicant has a credit score less than 580, I referred them to my loan officer partner and split the commissions.

Mortgage Loan Officer Training Tip #5:

Specialize

Find a niche. Specialists always make more than generalists. Everyone does purchase loans on single family houses. What if you became the expert in your area on financing investment properties, construction loans, or VA loans? With some work and dedication you could become the mortgage lending “guru” for your niche and monopolize your marketplace.

Mortgage Loan Officer Training Tip #6:

Location, location, location

If you can: Keep a frig in your office, place a copier close to your assistant’s desk, and have your computer printer right next to your desk. This will save loads of time walking around the office. It will also keep your assistants focused. Sometimes it’s hard to walk through an office without falling into several casual conversations that can lower your team’s production.

Mortgage Loan Officer Training Tip #7:

Get all documentation up front

I believe in getting every piece of documentation I could possibly need right up front. That way if a problem arises you have a greater chance of being able to fix the problem on your own without bothering the borrowers.

Mortgage Loan Officer Training Tip #8:

Only the necessities

Just because you collect extra documentation, doesn’t mean you have to use it. Don’t submit extra paperwork to your processor or to underwriting. It could open a can of worms you don’t want opened. Only turn in exactly what’s need to fund the loan – nothing more or less.

Mortgage Loan Officer Training Tip #9:

Sandwich technique

At some point you’ll need to contact a borrower during the loan process and ask for more information. When this situation arises, try using the sandwich technique:

Re-establish rapport

Make your request: “Oh by the way I need___. When can you fax it to me?”

Continue rapport building dialog.

Say goodbye and politely get off the phone.

If you have a difficult borrower, this works like a charm to diminish their anxiety level.

Mortgage Loan Officer Training Tip #10:

Testimonials

Get testimonials from everyone. They are great marketing tools for your business. Use them to target your client’s CPA, HR manager at work, real estate agent and financial planner to establish a referral relationship.

There you have it. Incorporate these ideas into your mortgage business and see how they impact your bottom line.

By the way, if you would like to get another 13 mortgage loan officer training tips that can instantly boost your income by $5,000 per month, visit:

www.Mortgage-Leads-Generator.com/a/13tips.htm [http://www.Mortgage-Leads-Generator.com/a/13tips.htm]

Please feel free to reprint this article as long as the resource box is left intact and all links are hyperlinked.

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Whale Alert Traces 6,000 ETH Transferred From Unknown Wallet

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Whale Alert- 3,200 ETH Transferred to Unknown Wallet
  • In the past 24 hours, Ethereum is down almost 15%.
  • The transaction happened on Sat, 22 Jan 2022 13:30:46 UTC.

Whale Alert reported a staggering total of 6000 ETH, worth 14,963,907 USD, transferred by a whale through an unknown wallet. Transaction data shows that the transfer was made from an anonymous wallet to Binance. In the past 24 hours, Ethereum has lost almost 15% of its value after it retested the $3280 region a few days ago. Furthermore, it was the weekend; thus, a lower volume is expected than on weekdays.

Read More: Ethereum Price Prediction

There is no guarantee that the market will move in a certain way. Current Ethereum 2.0 constraints, a significant barrier for both consumers and developers, are anticipated to be addressed in version 2.0. In addition to enhancing the network’s performance, efficiency, and scalability.

Whale Alert

In its databases, Whale Alert compiles all of the transactions from various blockchains, analyses them, and then saves them in a uniform style. With the aid of artificial intelligence, these databases are regularly updated manually with information about thousands of known individual addresses, email exchanges, and other types of addresses. On its official Twitter account, it shared the information.

Hundreds of millions of dollars of ETH are being moved by crypto whales. The Whale Alert monitoring and analysis tool initially discovered the large crypto transfer. According to Whale Alert data, the transaction happened on Sat, 22 Jan 2022, 13:30:46 UTC.

According to CoinMarketCap, the Ethereum price today is $2,352.17 USD with a 24-hour trading volume of $30,582,551,275 USD. Ethereum has been down 15.33% in the last 24 hours. 

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Central Bank Digital Currency (CBDC) On the Cards As U.S. Fed Asked to Submit Reports

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Bitcoin (BTC) Prices Hold Steady After a Severe Turmoil
  • A government-wide plan for digital assets is the first of its kind.
  • Federal Reserve would have to work out the kinks to satisfy both parties.

To stay up with private-sector payment innovations, the Federal Reserve on Thursday initiated an assessment of the possible advantages and dangers of creating a U.S. digital currency. The Biden administration has outlined a U.S. Crypto Policy, and now it plans to follow suit with an executive order that will be issued in February. Federal agencies will be required to submit reports. A government-wide plan for digital assets is the first of its kind. Federal authorities will investigate the dangers and possibilities.

Congress and The White House

Intense discussions are taking place at the highest levels of government to devise a comprehensive approach to Digital Currencies. The design is nebulous and difficult to interpret. According to some analysts, Federal Reserve officials have made a few hesitant measures towards forming a CBDC. Congress and the White House both have to be satisfied with the CBDC’s design before it can easily transition into payment and banking systems without causing any problems.

In order to get the support of both the executive and legislative branches, the Fed will have to figure out how to develop a central bank digital currency (CBDC). Consequently, Federal Reserve officials seek a formal statute permitting the creation of a Crypto policy.

Congress would welcome a CBDC, but the Federal Reserve would have to work out the kinks to satisfy both parties. According to Senate Financial Committee Chairman Sherrod Brown (D-Ohio), this is an essential step towards creating a U.S. based digital currency that will let more people participate in the banking system.

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SHIB Army Eagerly Waiting For Shiba Inu Listing on Robinhood This Year

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Shiba Inu Listing on Bitstamp Postponed to 2022
  • Only seven coins may presently be traded on the platform. 
  • More than 500,000 people have signed a Change.org petition.

At the end of 2021, Shiba Inu Coin surpassed 1 million holders, and it surged swiftly after that, just to fumble to the recent crypto market crash. SHIB holders are looking to Robinhood to complete their listing collection after getting a Coinbase listing in September 2021 and subsequent listings on Kraken and CoinDCX.

By the end of January 2022, Robinhood will not support the Shiba Inu coin and has not confirmed any intentions to list SHIB. Only seven coins may presently be traded on the platform. Prospective SHIB holders will instead need to seek SHIB on exchanges such as Binance, Coinbase, Gemini, and others. In the SHIB community, rumors of Robinhood’s support for SHIB are commonplace. Rumors, on the other hand, are often just that.

Demand is Clearly High

Robinhood’s intentions for a SHIB listing are unknown, but the demand is clearly high. More than 500,000 people have signed a Change.org petition requesting Robinhood to include SHIB in its product line. According to the petition, the success of Robinhood’s Dogecoin listing shows that SHIB has the potential to be just as successful. 

On Shiba Inu, Robinhood CFO Jason Warnick is the most recent formal remark. During the Wall Street Journal CFO Network Summit, Warnick was questioned about new listings and Shiba Inu.

Warnick said:

“It’s not lost on us that our customers and others would like to see us add more coins. We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators.”

It’s hard to accurately predict when SHIB will be listed on Robinhood, but the SHIB army can hope it’s this year.

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