Mid-Q4 to early Q1 is generally when mortgage pipelines are winding down, but that does not mean the mortgage industry is sitting still. This seasonal lull in housing market volume is traditionally when loan officers (LOs) explore new employment opportunities.
Marketing is a crucial component of LO recruitment. Powerful automated marketing tools make it easier for hiring managers to engage LO prospects and show LOs that your institution has invested in marketing resources to help them succeed. Lenders seeking to attract top talent must be able to prominently showcase their organization’s values and the many ways they support LO success.
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Hone your recruiting efforts
Determining who you are marketing to is the first step to developing a successful LO recruitment strategy. Recruiters should ask themselves: what do my ideal recruits value? Some LOs are driven by company culture and mission. Many are motivated by money, and others by a greater purpose. There’s no inherently right or wrong priority for a job-seeking LO, so lenders should communicate how they align with recruits’ priorities.
Depending on market dynamics and organizational needs, lender recruiting strategies will vary. For instance, LOs with a strong presence in a new market that a lender wants to break into can help that lender expand their footprint more quickly. These LOs likely have already established relationships with local real estate agents as well, which makes generating referral business in that market much easier.
Alternatively, some lenders may want to seek out recruits with a strong performance record of selling a specific type of loan product. An LO with a history of selling jumbo loans will likely be more confident serving high-income markets, for example. In markets with a larger veteran population, lenders may want to recruit LOs that specialize in loans backed by the U.S. Department of Veterans Affairs. Whatever LO profile you are looking for, it is always critical to target your recruitment marketing content and messages in ways that will capture their attention.
Provide tools for LO success
By bringing a strong tech stack to the table, lenders can differentiate themselves from competitors while helping new recruits attract more leads and move loans through their pipelines faster. After all, the most skilled loan originators want to work with employers who have invested in technology supportive of a streamlined, polished borrower experience.
With the right automated mortgage marketing and customer relationship management (CRM) solutions, even small mortgage shops can support their origination teams with top-of-the-line technology – without breaking the bank.
Keep in mind that most LOs are going to want access to tools that they are either already familiar with or that are easy to learn. A top-producing LO is unlikely to dedicate several weeks or months to learn how to use a complex mortgage marketing solution.
The ideal marketing platform will offer new LO recruits near-instant access to data within their own customer database, automate traditionally cumbersome processes right out of the box and also allow users to generate customized workflows. In short, selecting effective, customizable and user-friendly marketing tools and strategies is crucial to LO recruiting. Determined LOs will most often choose to work with the lender that will prepare them for success with a system that establishes and maintains strong relationships with mortgage leads, past borrowers and referral partners.
Surefire CRM is a comprehensive mortgage marketing engine and CRM solution, making it the ideal solution to engage and win over prospective LO recruits. What’s more, Surefire’s integration with Mobility Market Intelligence (MMI) makes the platform even more effective for scouting and vetting the exact types of LOs a lender is looking for.
Check out our MMI partner spotlight for more details about the integration. Then, schedule a Surefire demo and see for yourself how our platform can help you differentiate your organization during the LO recruitment process.