Who is the second most important person for a LO?

After the direct supervisor, the most important person for an originator is the processor. Yes. I said processor. An effective processor enables loan officers to increase their production significantly. Until recently, most hiring managers selected their friends or acquaintances for the processor position — whether the individuals were qualified or not.

However, an increasing number of mortgage firms are realizing the value of this position and understand that they need to take a closer look when interviewing for the job. Processors are no longer simply file organizers but now have a significant amount of communication with the borrowers.

As a result, I thought I would share what we have identified in our research as the traits of a good processor. We discovered good processors possess 12 personality traits. These traits are: interpersonal influence, positive service attitude, high energy, social comfort, accommodation to others, dependability, resilience, process-focused, objective performance, acceptance of diversity, multi-tasking and self-reliance.

Of these traits, multi-tasking and self-reliance are especially critical as the position has become more demanding over the years.

Another smart strategy is for companies to match the processor with the originator according to communication style. Taking into consideration how each party communicates and aligning those individuals with similar styles helps ensure increased compatibility and ultimately, a greater chance for a successful working relationship.

I think it is clear that the rising costs and risks involved with all mortgage banking positions have raised the bar in how hiring is conducted. The old model of assuming that anyone can be a sales person or a processor no longer works. This industry requires professional employees at every level including the processor position.

Do you have the right individual in place who can meet the demands of the processor’s critical role in origination?