How can I get more loan officers to work for my company?
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I have a new mortgage company and I am looking for loan officers that would like to work out of their homes. I do not want to spend a lot of money for an ad but I would like to give LOs the opportunity to hear what kind of deal we have going on. There is no split, we just charge the LO a $500 fee and $395 processing fee and that's it (no hidden costs!) If anyone has any good suggestions I am open to just about anything, as long as it's not too expensive!!
How can I get more loan officers to work for my company?One inexpensive method is to join your local Mortgage broker (or Mortgage Banker) association and attend the meetings. There, you would likely find Loan Officers who are serious about their career, since less-serious LOs never attend those meetings. That is one way to target quality over quantity.
Another way would be to get in touch with your local Account Executives. They usually know of LOs who are unhappy with their current employer, and if you have a good relationship with an AE, they may refer you their contacts.
Lastly, if you want inexperienced LOs that you can train to fit your system, you could hold a "seminar" about your job opportunity. Just email/mail the announcement of the seminar to your current client base, family, friends, etc., and rent out a conference room for about $15-$20/hour and provide water and/or coffee. Spend a 1/2 hour to an hour presenting the benefits of being a LO, especially with your company.
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