Lending Perspectives: The ultimate loan officer

Use this sketch of the exceptional qualities of actual lenders to help identify your next superstar.

What makes a loan officer successful? Regardless of future advances in technology, I hope there will always be room for a great loan officer. Yes, many consumers will be able to “self-serve.” Yes, thanks to the Internet, there is a wealth of information and advice at our fingertips. Yet a good loan officer can provide real-world experience to a consumer in need and assist when there is conflicting advice.

I’ve been at the senior management level in charge of lending for 30 years with two different credit unions, and I’ve had my fair share of loan officers who were exceptional in one way or another. Here’s a composite sketch of their finest attributes; I hope this helps you identify your next superstar!

Jack, the Hard Worker
Jack was perhaps the first loan officer I ever worked with that struck me as someone special. It wasn’t because Jack was blessed with amazing skills; he simply had the will to succeed and outworked everyone. I hired Jack from a finance company knowing that he had seen a much tougher side of the lending business. Jack was willing to try almost any idea to build new business. He was one of the first loan officers I had who embraced outbound calling—he had experience doing this at his prior company.


continue reading »