Another Secret Revealed!
In this video, I reveal a secret about loan officers and their skill levels. I discuss how the barrier to entry for becoming a loan officer is low, resulting in a wide range of skill sets in the industry. I also highlight the complexity of loan guidelines and the importance of understanding them to successfully navigate the underwriting process. Watch this video to gain insights into the loan officer profession and the factors that contribute to their effectiveness.
0:00 Alright, here’s another secret for you. And I hate to say this even out loud, but most loan officers Don’t know what they’re doing.
0:09 That’s just the reality. It’s just like any skill set you’re going to have extraordinarily low skill sets and extraordinarily high skill sets.
0:19 The barrier to entry to getting your license is very low. You just need to take a 20 hour class online and pass.
0:27 A pretty, I think pretty easy test and boom, you have your, you have your loan officer license. I get emails, phone calls, texts every single day.
0:40 Saying hey my other lender declined me, I look at the loan and it’s like nope, you’re good to go, here’s what we’re doing.
0:46 Guidelines are extremely complex, it’s taken me probably about a decade. To really wrap my head around every type of scenario, guidelines, how they work, how underwriting works, how you know, how to get loans to the finish line.
1:04 So it’s not always about rate, it’s not. It’s not always about cost. It’s super important you connect with somebody that knows what they’re doing.
1:14 So yeah, super important guys.