Training Your Mortgage Team – How 30 Minutes a Week Can Revolutionize Your Loan Process

mortgage coaching

Whether you’ve got a team of two or twenty, our mortgage coaching students struggle for effective and efficient communication among staff members during the loan process.

 

CORE Mortgage Coach Chris Haynes tells us about a process that takes no more than 30 minutes per week to fix all of that.

 

Chris uses weekly team trainings with his entire staff to ensure that they are constantly operating at peak efficiency and fixing problems as they come up.

 

How’s that work?

Everyone participates.

The entire staff gathers for training from the receptionist on up to Chris himself. Why would everyone be involved?

 

“It’s been good to see the team realize, ‘Oh, that’s why we do this,’” Chris said. For example, “We promise Tuesday Updates to clients. On the front end as the loan officer, I’m promising a call every Tuesday, but the back end actually has to deliver on it. It’s been a really big help to see what everyone is doing.”

 

It’s on the calendar.

Everyone has a recurring meeting in their calendar for Wednesday morning at 8:30 a.m.

 

Keep trainings to 30 minutes.

Shorter for short topics, but never longer than 45 minutes. Your people have things to do!

 

Delegate!

“If you think, ‘Man, I’ve got to do a training every single week from now until forever,’ you won’t do it. But, other people can do it as well,” Chris said.

 

When Chris isn’t training his team, another LO or his processing manager will lead that week. Sometimes he’ll invite a guest speaker, such as someone from a PMI company.

 

What topics do you train on?

 

“My fear around doing these was that if I did it every week, I would run out of stuff to train on, but there are always plenty of things that come up,” Chris said.

 

  • Delivering a great Tuesday Update Call
  • How to ask for current client referrals
  • How to take incoming calls and make the client feel comfortable
  • What to do when an appraisal comes up short
  • How to take leads over the phone
  • How to bring personal referrals to the team
  • How to structure a loan
  • How to restructure a loan if something changes
  • New company policies
  • Guideline changes
  • Any time a problem comes up on your team, make that the next week’s topic
  • Invite PMI companies to come in and train your team on their programs and underwriting guidelines

 

 

Why you MUST do weekly training

“Anytime you get the group together, even for just 30 minutes, it builds morale,” Chris said. “It gets everyone on the same page and understanding more what everyone else is doing.”

 

“Everyone learns at the same time, including myself. Sometimes, someone will ask a question that I don’t know the answer to, but my processing manager does.”

 

Final thoughts

“I don’t care if you’ve got one assistant in your whole office or if you’ve got 20 or 80 or 100 team members, getting a consistent training schedule once a week, putting it on the calendar, and making it happen will move the needle in your business. Do it now. Don’t wait like I did!”

 

Chris has been in mortgage coaching with The CORE Training since 2011. If you’d like to get more accountable with your business growth, check out one of our coaching programs today! https://www.thecoretraining.com/double-your-income-mortgage-coaching/