Managing a Mortgage Office Made SimpleTM
LOAN OFFICERS AND BRANCH MANAGERS
Are you thinking about going out on your own and setting up your own mortgage company?
Thinking about managing a mortgage branch office?
Currently a branch manager?
Already own a company and want to lower your cost and have more efficient branch openings?
Net Branch Operation? Get this authoritative guide to provide your new branch managers the "how to" get their branch up and running quickly! (Co-branding available)
If you answered yes to any of the above - then Managing a Mortgage Office Made Simple™ has what you are looking for. This book was designed for those experienced in mortgage lending who are ready to take the leap and own their own mortgage company OR for those managing or planning to manage a mortgage branch or moving to a new physical location.
This manual contains 11 topics (chapters and subchapters) CRITICAL for success, with exhibits and examples, making it fully self-contained. It has the information you need to properly and confidently prepare for and manage your own mortgage branch - so your mortgage business succeeds and you realize the financial benefits that make it all worthwhile. Below are some of the main topics of the manual and a brief summary of each.
Lender, Independent Broker or Net Branch Option.
This section takes you through the options of identifying what type of mortgage operation you will organize or manage. Then backs it up with tools that will help speed you on your way once you decide.
Locating & Planning Your Branch Office
The important points you should consider when choosing the location, size, and monthly cost of your mortgage branch's physical location. What to lookout for when inspecting various office spaces. Your Floor Plans Once you have identified an office site that matches the goals and objectives you have decided on this topic section shows you how to plan and arrange the equipment and personnel in your branch so that: 1. Office equipment and supplies are located for smooth work flow. 2. Personnel are arranged and positioned in such a way to optimize floor space, enhance privacy and personal zones and maximizing efficiency. Examples are provided showing you how to design your own floor plans.
Planning Your Branch Expenses
When you are first considering opening up a mortgage branch of your own you need to seriously look at: 1. What initial funds you will need to begin this venture, 2. What your monthly and ongoing branch expenses will be, 3. The average income you will earn from each mortgage loan closed and funded. Includes worksheets. Completing this important step, better enables you to identify: 1. What your initial and ongoing minimum funds requirements will be, 2. The minimum number of loans your branch needs to close each month to make a profit, and 3. What each Loan Officer's minimum monthly loan production goal should be.
Hiring Loan Officers and Processors
Those important personal traits you should look for when interviewing candidates for your Loan Officer positions. How to match the lending experience of Loan Officer candidates to those prospective loan customers you intend to target for your branch. Also discusses how to pay your Loan Officers and why and what to include in designing a Loan Officer Employment Contract. The Loan Processor. Those important personal traits to look for when interviewing candidates for a Loan Processor position. Suggestions are provided on how to pay your Loan Processor. What equipment to include and how to arrange the Loan Processor's office to enable her to be more productive, reduce interruptions, and maximize her working time. Discusses centralized versus in-branch loan processing.
Managing Your Branch
One of the most important things you must do to have a successful and profitable ongoing mortgage branch is to properly manage your branch. Within this chapter you will find management practices and techniques of managing a mortgage branch that instills teamwork, open communications, quality control and compliance, high morale and self-motivation of branch staff. Implementing these management practices will not only enhance the chances of your mortgage branch becoming profitable but of you becoming a successful branch manager.
Marketing Your Branch
Why marketing your mortgage branch is so important and what to include when considering different marketing campaigns. The many and different ways of marketing your mortgage branch are discussed that have been successfully used by other branch managers. How to do a cost/benefit analysis on a marketing campaign. Suggestions on what marketing campaign and forms of advertising to do first - prior to opening your branch office's doors to the public.
As you can see from these highlights, this manual is loaded with time and money saving step by step instructions. More than that! It provides many of the tools and sources for services you may want to use in setting up your office.