The Name Of The Game Is Teamwork – NMP Skip to main content

The Name Of The Game Is Teamwork

Everyone's got to work toward the same goal, and for the same good.

Mary Kay Scully headshot
Mary Kay Scully
A team plays together aiming for the same goal.

When it comes to loan origination, each team players’ goal should be the same, to close that loan. It’s not something that any one person can do by themselves. It’s a group effort that takes everyone’s unique skills and abilities, much like a team sport. As one team, it should be our priority that we have each other’s backs as we work together to get more people into homes and achieve the dream of homeownership.

Think about each of your players: your appraiser, your real estate agent, your processor, and so on. Then, ask yourself, “how does everyone’s job affect one another and how can everyone better collaborate as a team in order to get people into homes?”

Loan Originators Must Set Everyone Up For Success

Loan originators stand ready at tip off to get the game started. It’s in their hands to set everyone up for success. LOs have to begin by taking a complete application. It is their job to ensure that they have all the critical information that everyone needs included on the application. They are responsible for working closely with the borrower to get all the boxes checked at the beginning.

From a remote perspective, it may be a challenge as they are no longer physically touching the file as they once did in an office. While it may be easily accessible from a virtual perspective, LOs are wading in new territory. Many have probably built a new virtual routine by now, but, regardless, LOs must stay on top of their game in order to ensure the remainder of the team also can be successful when it’s their turn.

After The Same Goal

We’re all on the same team not just with other industry partners, but with the borrower as well. To close the loan successfully, everyone must be working alongside the borrower to set a timeline and meet that end goal in a timely manner. 

This can best be done by staying in constant contact with the borrower. You can’t just call the borrower once and expect them to call you back – you must be vigilant. As an LO, consider yourself the player in possession of the ball until it reaches the goal. The key is to be proactive and make it a priority to get the loan closed so the ball doesn’t get dropped.

According to Ring Lead, 80% of calls go to voicemail and 90% of first-time calls never get returned. This means that the borrower could be the very one holding up their own timeline. If you are not persistent, things can fall apart easily and quickly. Focus on the end goal and help the borrower understand their critical role as part of this team.

Teaming Up With Outside Sources

For LOs, there are lots of outside sources that assist with helping your team close a loan and secure a win. Some of these sources may not have as much to do with closing the loan, but are  focused on giving LOs access to information to help determine if the borrower is viable and the loan can be facilitated at all. Consider these resources part of your game plan.

This can be challenging for LOs because you have less control over the vendors, but still need them to participate and act as a member of your team. Vendors that provide things like credit reports and appraisals – even though LOs can’t directly speak with the appraiser and other outside sources – play a vital role in closing a loan. These sources also can be investors like Fannie Mae, Freddie Mac, FHA and VA for loans. Although these vendors have goals and initiatives of their own, the key is to get them on your side and work together to meet the goal of closing the loan.

Reaching The Final Buzzer

LOs have a difficult job that has been forced to see adjustments due to the pandemic. Although your normal isn’t what it was two years ago, the end goal is still the same. Whether working from your home office or in your in-office space, your job does not change. Each loan provides a new opportunity to build your team and win the game of helping borrowers fulfill their dream of homeownership.

Close more loans, be more efficient, stay out of trouble.

Find more at Pro School
This article was originally published in the NMP Magazine November 2021 issue.
Mary Kay Scully headshot
Mary Kay Scully

Mary Kay Scully is the Director of Customer Education at Enact, leading the development of the company’s customer education curriculum. The statements in this article are solely her opinions and do not necessarily reflect the views of Enact or its management. 

Published on
Nov 29, 2021
More from NMP Magazine
Leading LOs 2022

National Mortgage Professional magazine celebrates the accomplishments of the top originators.

NMP Magazine
Be An Amigo To Latinos

Embrace the family, be nurturing, and understand the cash mentality

Andy Insua
Fear The Ghost Of ‘Might-Have-Been’

All things come to the person who goes after them.

Harvey Mackay


Local Business Marketing 101 for Mortgage Lenders

Whether you’re a new mortgage lender or you’ve been around for decades, marketing can often feel like the neve...

May 12, 2022
Investor Confidence in Today’s Non-QM And Why Originators Are Paying Attention... A Virtual Town Hall

We host Angel Oak Mortgage Solutions for a special 2021 edition of their virtual town hall series they ran fro...

Apr 08, 2021
How to Help Real Estate Pros in a Post-Refi World

Hear from Melissa Merriman, REALTOR® with The Melissa Merriman Team at Keller Williams, on what real estate pr...

Mar 18, 2021
Home Builder Confidence Drops For 5th Straight Month

Home Builders in the Northeast and South are the most optimistic.

Analysis and Data
Builders, Lenders Praise Biden Plan To Improve Housing Supply

'Housing Supply Action Plan' seeks to improve affordability by increasing housing inventory over the next five years.

Regulation and Compliance
What Fraud Costs Mortgage Originators

The front end of the mortgage process is identified as a key entry point for fraudsters. 

Analysis and Data
Connect with your local mortgage community.

Meet your your colleagues, both national and local, by attending an event in your area.