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Loan Officer Test
Loan Officer Test:
Circle "A" or "B"
1) Experience:
A: I have originated loans for at least 3 years and have a customer base and a system in place to generate business.
B: I am fairly new to the business and need mortgage training and sales management.
2) Automated Pricing Engine:
A: I prefer to use one source to price my loans.
B:I would rather get several rate sheets, add the necessary margins and fees, and price the loans myself.
3) Technology:
A: I prefer a pure web-based origination/processing system that is completely paperless, allowing me to work from anywhere, anytime, and stay completely up to date.
B: I prefer the traditional way, with paper files, and weekly status meetings.
4) Speed:
A: I feel that getting answers fast and being able to close loans quickly, allows me to service my customers better and relieves much of my personal stress.
B: Speed is not an issue as I always allow enough time to complete my transactions within my customer's expectations.
5) Underwriting:
A: I prefer the choice of Correspondent u/w (Fast), MI delegated u/w (Medium), or Investor u/w (Slow), depending on the individual characteristics of my loan.
B: I prefer to keep it simple with one channel that serves most of my u/w needs.
6) FHA/VA:
A: I am starting to do a lot more Government Loans and prefer to work for a company that has FHA Direct Endorsement u/w and is VA LAPP approved.
B: Government loans are not important to me.
7) Ability to Broker Loans with no price hit:
A: I prefer to have the choice of brokering loans when I need to-whether for price, program, or any other reason.
B: This is of no value to me as I fund all of my loans in-house to maximize my control on the process.
8) Branch Support:
A: I see the value in having a corporate staff that responds very quickly to help with licensing, program, investor, HR, u/w, and closing issues.
B: I am used to handling all my own problems and don't see the value in having a staff to handle these matters.
9) Multi-state Licensing:
A: I originate loans in more than one state and need help with licensing so that I have the ability to service my customer base.
B: All the loans I close are in Georgia, so this means nothing to me.
10) All Niches Covered:
A: I would prefer to work for a company that can handle all types of lending such as Reverse Mortgages, Commercial Lending, Bond Programs, and Rural Housing, so that I can earn referral fees or later pursue a new niche myself.
B: My business is all vanilla; I never get calls for niche programs.
If you answered 7 or more "A", you should be at VanDyk Mortgage Corporation!
Please call to setup an interview with Stephen Katz 770-309-0939
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