Posted by Shambhu Nath on September 13, 2003 at 24:10:11:
Family and friends referrals can be good place to start but can not sustain the business.
Cold Calling is common for loan officer(not necessarily succeful); but most succesful companies have thier own telemarkting dept and let the loan officer focus on the loan origination.
The long term business is built on purchase business. Realtors do not like to risk with new LO’s. So the best way is to find something to give and then receive. You may find some purchase leads and give it some future top producer realtors(not current) and then it builds the realtionship. Telemarketing can be helpful in this area also. Dan Pinto has good seminar on it. You can get more info from at
Posted by Charles on September 12, 2003 at 16:04:29:
How does one create leads or referrals as a Loan Officer when new to the business? Do the most successful Loan Officers do cold calls or referrals from family and friends?
Posted by Sharon on September 13, 2003 at 08:34:08:
Charles, I have some suggestions for you:
Try networking with new real-estate agents who just recently got their license. Contact the real-estate commission board for new agents in your area to get this information. Contact them and take them out to lunch and explain how the two of you can work together and help each other make money. Their always looking for few good loan officers or mortgage brokers to refer leads to…just make sure you do a good job of satisfying the agent and the borrower and you will have more leads that you can handle…
Another thing you might want to do is put a small classified ad in your local newspaper for leads. A small-attractive ad that really stands out in bold should get your phone ringing and get you leads.
Also go to loanofficersuccess.com and sign up for their newsletter on how to get leads, tips and advice to help you build your pipeline.
Good luck to you!
Sharon Jones
Real Estate Investor
St. Louis, Missouri