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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 38 February 2025 F E A T U R E S T O R Y brainstorming sessions, and create focus groups to identify areas of improvement. Involve the technology team and end us- ers as they offer unique insights into the intersection of process and technology. From this feedback, set actionable goals to streamline operations for the future. • Upgrade your technology: Once problem areas are identified, research solutions that can improve processes, whether software that saves time, enhances security for customer data, or improves com- munication through robotic process automation (RPA) or artificial intelligence (AI). A hidden benefit of upgraded technology is that it can also be a potent recruitment tool, attracting experienced loan officers who are drawn to sophisticated tools that help build their businesses. • Know your customer: Engage with your existing customers to gather feedback and regularly review comments to identify areas for im- provement. Customer focus groups can provide invaluable insights, especially from potential first-time homebuyers who can shed light on their struggles, educational needs, and incentives for entering the market. Understanding customer expectations, particularly regarding the use of technology, will be critical in meeting and exceeding their expectations. • Evaluate third-party providers: Review new loan applications to assess which third-party providers offer excellent service and which are causing delays. Assembling your best support team now, with the capacity to grow with increasing volumes, will ensure you can meet future demands. Strategic Staffing for the Future W hile technology and process- es can be refined at current volumes, hiring additional staff should coincide with increased business. How- ever, developing a well-thought-out plan for scaling your staffing levels is crucial. • Clearly define your ideal candi- date: Outline what you're looking for in potential candidates, considering that technology has shifted the focus of a loan officer. Your staffing strategy should encompass a range of expertise, from entry-level trainees handling repetitive tasks to experienced profes- sionals focusing on complex financial assessments, marketing, sales, and customer relationship management. • Brand your recruitment efforts: To attract top-tier loan officers, un- derstand what environment fosters their success. Cultivate this culture within your company and highlight it in your recruitment materials. • Share a vision for career growth: Loan officers may quickly lose inter- est if management does not offer a clear pathway for growth. Focus not only on immediate results but also on long-term career potential. Map out a success pathway, outlining the education, effort, skill training, and mentoring needed to achieve it. • Establish a sustainable pipeline: Forward-thinking lenders create their staffing pipeline by partnering with colleges and universities to develop lending-focused curricula, offering internships, and establish- ing temp-to-full-time opportunities. • Offer a comprehensive benefits package: Companies that provide robust benefits are more attractive to loan officers seeking new positions. A well-rounded benefits package might include financial incentives, health benefits, personal growth opportunities, and lifestyle perks. Tailoring your package to the needs of your candidate pool will help you craft a competitive offer. Commitment to Onboarding and Training F inally, a solid commitment to on- boarding and training is essential. New employees often need help in their first few months due to inadequate training and guidance on where to seek help. Ensure your training program is comprehensive and provides ongoing mentoring and support. Survey your current loan officers to identify any gaps they encountered during onboarding and make necessary improvements. Preparation Breeds Success R ace car driver Bobby Unser once said, "Success is where preparation and opportunity meet." By fine-tuning your processes, upgrading your tech- nology, and laying the groundwork for an effective recruitment program today, you'll minimize operational delays when the market rebounds, setting your team up for success. "Engage with your existing customers to gather feedback and regularly review comments to identify areas for improvement."