Keep your wits about you: A positive outlookJeff Barrloan officers, underwriters, mortgage officers, Jeff Barr, loan executive
Gas prices continue to rise, consumer confidence is spiraling
downward, housing starts are slowing to a halt and property values
are staggering. Unemployment is rising, and so is your grocery
bill. Despite all these negative factors, there are still reasons
for optimism for loan officers.
Loan executives provide an important role in the most
significant financial decision that people make: Buying a home. As
an individual embarks on a purchase or refinance, they have varying
needs and desires. Understanding the client, being patient and
leading the applicant down the proper road takes a creative and
conscientious individual. Most loan officers have their client's
best interest at heart when delivering the product to the customer.
These professionals will be around for a long time, and proudly
represent this industry.
However, mortgage officers face many obstacles in this day and
time. Brokers face stiff competition from banks to obtain each new
loan or refinance application. Underwriters are putting on their
bifocals, and the media is trying to drive mortgage brokers into
new careers every day.
The mortgage business changes daily. Listen to the client's
needs and wants, be prepared for new requests from the
underwriters, and be patient. The strong will survive. Here are
some tools to think about during some of these less than perfect
• Maintain your confidence levels throughout tough
• Keep a positive attitude, no matter what;
• Pay attention to the positive things in your life;
• Cyclical periods occurwe are in a down market now that will
• Continue fine-tuning your skills by attending seminars or
learning a language;
• Increase your product knowledge and skill set;
• Keep not only mentally sound, but in great physical
• Watch the news and follow economic indicators for
macro-employment, as well as local job hiring and freezes;
• Get or stay active in your community to keep your good name
Your career can continue to prosper. Keep your wits about you and
maintain a positive outlook.
Jeff Barr is a loan executive, trainer and adjunct professor
at the University of Louisville. He may be reached at (502)
777-9555 or e-mail email@example.com.