Before I was a branch manager, I was a loan officer. I was a loan officer for seven years and I still originate loans. And even now, sometimes I don’t know what my job is and what my job used to be, but I’m going to give it my best shot to explain to you what a loan officer does. A loan officers job is to be a salesperson.
When it comes down to it, a mortgage loan officer is to go out into the community, build relationships, both, with realtors, with financial planners, and just become a name and a brand within the community. A loan officer is the person who helps people through the financing of purchasing and refinancing homes. That’s it, that’s what their job is.
On the front end. They’re just a salesperson. It could be looked at as a person who’s like a realtor, who’s like a solar agent. They’re just a person who’s a representative of a company who sells money for the purchasing of a house. On the back end, the loan officers job is a little different. It’s schizophrenic in nature. A loan officer, they wear a marketing head.
They wear a hat as a mathematician. They wear a hat as a communicator. As a teacher and as a project manager. Their job is to be the liaison between you, the client, and the lender. They are to help guide you through the process of what a mortgage loan is. They help you through understanding your initial disclosures, help guide you through processing, underwriting, appraisals, closing disclosures, signings and fundings.
Their job is to negotiate rates with the lenders, negotiate on your behalf on any terms between you and the financing institution. Your loan officer, your mortgage broker can be thought of as your attorney. Now, most of us, I’d say 99.9% of us didn’t go to law school. But it’s very easy to see us as your attorney, and our job is to represent you to the court, to the judge, who is the underwriter and the bank.
Our job is to find you and help guide you through the process of what it’s going to take to make you a homeowner or refinance your home to save you money, or pull cash out so that you can leverage your equity position. Your loan officer should be your go to for any financial needs.