The challenges associated with a home-selling process has changed a lot during the past decade. Aside from closing on a mortgage loan, loan officers are tasked with the secondary responsibilities of generating enough real estate leads, converting incoming leads, building new real-estate partnerships, building on existing partnerships, and maintaining the database of prospects. And to top it, the shifting sands of mortgage regulations require them to be on their toes to deal with a new set of challenges every now and then. Therefore, it’s all too easy for loan officers to get bogged down by the mundane tasks involved in handling with each of these requirements.
Even when they put in long hours along with some personal sacrifices, getting everything done becomes a never-ending struggle. More often than not the struggle leaves them at the tipping point of success and failure. Can they afford to burn out as a one-man show? Or should they change and delegate their mundane task to experienced hands?
A Virtual Assistant’s Helping Hand to Manage the Juggling Act
There are several critical tasks to a loan officer’s to-do list which can’t be ignored but can rob them of their focus from the tasks they need to do on priority. Independent loan officers or loan officers representing small lenders who cannot afford to hire full-time support staff have to put up with this struggle. This is where a mortgage virtual assistant (VA) can come prove handy. In the mortgage world, it’s now common to hire an assistants who work for you from a far-off location, taking care of these mundane, yet critical tasks, and freeing you up to do higher-level work.
Here’s how a virtual assistant can assist you in organizing your work:
Stay Connected with Prospects
In a 24/7 mortgage world, you need to respond to customer queries no sooner than they reach out to you through a call, an email or a post on your company’s social media page. Your virtual assistant will help you stay responsive to your client base round-the-clock. Additionally, they double up as outbound callers and dial up prospects who have inquired about mortgage products through other channels.
Assist with Loan Onboarding
Mortgage tasks related to loan onboarding consists of a whole lot of spade work. It includes collecting documents, creating an application, and filling up the 1003 in the LOS, indexing documents within LOS place holders and keying in data as needed, submitting supporting documents to processors to clear underwriting conditions and so on. A virtual assistant can help you accomplish much of these tasks without a flaw.
Effective Calendar Management
As a loan officer your role is to interact with more clients. Organising and reorganizing the piddly details of appointments in your calendar is important but a tedious task. When you leave this task to a virtual assistant, you don’t have to worry about scheduling and tracking meeting sessions with existing clients or new leads; reorganizing, cancelling, or rescheduling appointments and sounding out all stakeholders etc.
Work Within Your Budget
One thing that works your way is the flexibility that virtual assistants offer when you plan to hire them within a budget. You limit the fee and skills required upfront, and then look for a professional within those parameters. They work on their own time or set up a routine in sync with your office hours. You don’t have to get into a long-term contract or pay them any additional benefits.
Grow with Your Needs
The biggest advantage of hiring virtual assistants is that you can identify persons who can be groomed to grow with your business. You may start by delegating non-core tasks like managing your email inbox, collecting documents, or scheduling appointments to your virtual assistant. As they succeed, you may slowly start devolving your more important tasks to them. It’s all about testing their capabilities before trusting them with important tasks.
ExpertMortgageAssistance has wide experience in placing mortgage virtual assistants in the mortgage industry. If you are one amongst those lenders or loan officers seeking to expand your bandwidth with expert and dependable virtual assistants contact us now.
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