Written By: Tanisha Daniels
Every self-help guru has a strategy on improving productivity by turning important tasks into routines. The idea is that you are more likely to do something rote and habitual with effectiveness when it’s part of a regular routine, just like you do, for example, every morning when you get ready for work.
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How might this be applied to loan processing?
We know it’s important to pull our pipeline reports daily – often twice a day – once when we start our “to-do-today” and again when we’re setting up our task list for “to-do-tomorrow”. The return on your investment of time, in terms of minimizing errors and oversights while building valuable relationships, is tremendous. A few minutes a day spent calibrating your pipeline to idle smoothly for the day and even week ahead could bring you extra closings which often equates to extra bonus income every month.
Arguably, there is nothing more important to the growth of your confidence in being a successful loan processor than managing your pipeline.
It’s important … you KNOW it’s important, you WANT to do it, but
somehow, you’re not being consistent at it. New files, file updates, and phone calls keep getting in the way.
What if you established a new routine whereby every time you got a new file you set it aside – didn’t include it in your file cabinet until it was balanced on your pipeline report with intake notes posted in the system, and you made the intro call to your borrower … you also did the same thing for your files sent to and returning from Underwriting – and so forth?
Simple stuff. And because it’s your part of your daily routine, you do it – at the beginning and end of your day. And it works. You’re no longer known as having the “post-it note pipeline”.
To start, you designate these spaces on your desk. You know that “this” space is assigned to new files – and “this” one is assigned to underwriting – you see those spaces on your desk as the lobby area for your clients – there waiting for you to service them – and you do so with excellence. You’re proactive with their file updates and other internal business partners can look in the system and see exactly what’s going on with the file – they all know you’re on top of your game. Your confidence increases – and your income potential does too.
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Now, you’ve been doing this for a month or three, and it’s become a habit. Your pipeline productivity has increased – and so has your closing ratio because you’ve leveraged the capacity of being organized and informed. It’s as much a part of your day as lunchtime is to a great time with friends.
Easy right? So what’s the first thing on your “to-do-today” list? Exactly .. run your pipeline report, get your desk organized, update your clients.
Inhale, exhale, repeat. Good job.
About The Author
Tanisha Daniels - As an NAMP® staff writer, Tanisha Daniels is a lead instructor for Loan Processor University (www.LoanProcessorTraining.org) as well as has over 10+ years mortgage experience. She has used her baseline experience in loan processing to contribute to progressive and successful roles supporting Retail, Wholesale, and Correspondent clients. She has worked as a frontline and post-closing Underwriter, Account Executive, and Loan Modification Processor. She currently works as a contract Loan Processor for 2 small independent licensed Retail MLO’s. If you're interested in becoming a writer for NAMP®, please email us at: contact@mortgageprocessor.org.
