What are the expectations from a Mortgage Loan Officer?

By inflooens on February 11, 2021

What are the expectations from a Mortgage Loan Officer


The employment of loan officers is to grow to 3% from 2019 to 2029, based on the US Bureau of Labor Statistics report. Mortgage Loan Officers are the salesforce of mortgage lenders or organizations. Being in the field means that they are the face of the lending companies and are the ones dealing directly with borrowers. Mortgage Loan officers can streamline the loan approval process by using the latest customer-friendly technology tools like Mortgage CRM and Mortgage LOS. Read on to know more about what are the borrowers’ expectations from a Mortgage Loan Officer.

Responsibilities of a Mortgage Loan Officer

Mortgage Loan officers are responsible for evaluating and authorizing the approval of mortgage loans. Mortgage Loan Officer's services are sought by banks, credit unions, mortgage companies, and financial institutions. They evaluate the borrower's creditworthiness and the borrower's ability to pay back the loan in full and on schedule. We have discussed the role of Mortgage Loan Officers in our previous blog.

Fulfilling Borrowers' expectations

Getting a mortgage is a lengthy process and involves many stages like pre-approval, loan application, processing, underwriting, and closing loans. As a result, the approval of a loan can take a lot of time and be quite an ordeal for the borrower if there is a gap in communication or lack of information throughout the mortgage lifecycle.

mortgage process

Figure 1: Mortgage Process Image Source: https://assurancemortgage.com/role-of-loan-officers/

Mortgage Loan Officers can fulfill borrower expectations by

  • Adopting Good Technology
  • Prioritizing Customer Satisfaction
  • Speeding up the loan processing time
  • Providing expert advice on the federal regulations
borrowers expectations from a mortgage loan officer

Figure 2: Borrowers expectations from a Mortgage Loan Officer

Lenders can improve borrower engagement by adopting next-generation digital, end-to-end mortgage platforms that combine marketing automation and the borrowers' preferences. These mortgage platforms should be available through multiple digital channels, including mobile devices. Since all borrowers are not the same, there is a need to have a fully integrated mortgage platform. The Mortgage platform has to be unique for each borrower so that Mortgage Loan officers can track the application from inception to closing.

data to build borrower relationship ellie maes survey

Figure 3: Data to build Borrower Relationship-Ellie Mae’s survey
Image Source: https://explore.elliemae.com/infographic-data-to-build-stronger-borrower-relationships

Mortgage Loan Officers have to assure the borrowers that they are receiving the best customer experience. They have to deliver clear, concise, and timely information to the customers to close the mortgage loans faster. They also need to generate new business for the lenders with an effective online sales strategy. inflooens provides tools for sales performance management that will keep the lenders ahead of its competitors. inflooens has a unique Loan Optimization Platform that fulfills the borrowers’ expectations.

Impact of AI on mortgage loan officers

Not everyone has adopted the use of AI in streamlining the mortgage loan process. Mortgage loan officers are using automated underwriting to speed up the loan approval process. Some Loan officers believe in contacting borrowers in person when dealing with the loan processing and closing the loans. AI is streamlining the process to improve efficiency and reduces the costs to customers. The paperless, online loan process gives the loan officers the overall financial status of the customers. The speed at which loan officers are closing more loans is creating more business for the lending organizations. The divide among the loan officers in the use of AI is evident in the survey carried out by NMN Top Producers in 2020, as given in the below chart.

data to build borrower relationship ellie maes survey

Figure 4: Impact of AI on Loan Officers in the US geographically
Image Source: https://www.nationalmortgagenews.com/news/how-ai-pushes-loan-officers-forward

Importance of Mortgage automation tools

Mortgage Loan Officers need to understand the difficulties faced by borrowers to ensure customer satisfaction. Automation solves the problems faced by Mortgage Loan Officers of collecting information and saves time and money. A Mortgage CRM (Customer Relationship Management) software automates the time-consuming tasks and provides customer satisfaction. A mortgage Loan Officer can automate chief marketing tasks, follow-ups with customers and referral partners, and meet compliance regulations. We have discussed choosing the right Mortgage CRM in our previous blog. inflooens is the best mortgage CRM platform, having the best lead tracking, and automated follow-up.

Integration of Mortgage CRM with Mortgage LOS

The purpose of integrating the Mortgage CRM with the Mortgage LOS is to help Mortgage Loan Officers to process and close loans efficiently. A Mortgage Loan Officer can communicate with a borrower through CRM and see their loans and transactions from the Mortgage LOS. API integration is vital to keep both the systems synchronized and increase data integrity.

A Mortgage LOS system can process loan applications, facilitate risk assessment, and ensure compliance with federal regulations. By integrating the two systems, a mortgage loan officer gets contact prompts from the Mortgage CRM when a new loan application is processed in the Mortgage LOS. inflooens has the state-of-art Mortgage LOS with embedded CRM tools for seamless operations.


Lenders need to keep borrowers engaged by utilizing a variety of technology tools throughout the mortgage lifecycle. Mortgage Loan Officers have to stay in contact with the prospective borrowers by using personalized communication tools. inflooens has the best Mortgage CRM platform with the latest tools to meet the borrowers’ expectations. Also, inflooens has the best Mortgage LOS that is disrupting the mortgage industry.

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