Loan Officers: The $41,600 Reason Why Your Closing Ratio Matters

Whenever you think of loan officer, look here.

After reading this article on loan officer, you will find that you have practically covered all there is to know about loan officer.


Penetration into the world of loan officer proved to be our idea in this article. Read the article and see if we have succeeded in this or not!

Loan Officers: The $41,600 Reason Why Your Closing Ratio Matters

We have actually followed a certain pattern while writing on loan officer. We have used simple words and sentences to facilitate easy understanding for the reader.

Now that you have got to reading about loan officer, don’t you marvel at how ignorant you were about all the loan officer? This is the main reason for us to write an article on loan officer.

If you could improve on one aspect of your business, what would you choose?

Most loan officers would want to make their marketing efforts have better responses. And while marketing is critical to business success, there are other aspects of your business that are overlooked and could have much more immediate results.

This article is going to show you how improving your closing ratio just a little bit can have massive effects on your earnings for the year.

Even the beginner will get to learn more about loan officer after reading this article. It is written in easy language so that everyone will be able to understand it.

We are going to talk in hypotheticals for a second, so bear with me.

We have two loan officers working in the same office. There businesses are identical in every way. They have the same processors, underwriters, and marketing tools.

The only thing that is different is that Loan Officer A has a slightly better closing percentage than Loan Officer B, and let's see how this will affect their commissions in the long run.

Both loan officers, through their marketing and prospecting efforts, meet face to face with 25 potential customers each week. They both also average about $800 per closing.

Now Loan Officer A is a better closer than Loan Officer B, but only slightly better.

So out of those prospects, Loan Officer A closes 3 of them, and Loan Officer B closes just 2. That one loan difference means that Loan Officer A is 4% better at closing than Loan Officer B.

Did you see what I just told you? Loan Officer A didn't close twice as much, or even 25% better. It was just 4%.

Now 4% doesn't seem like much, right? However, that 4% allowed Loan Officer A to close one more loan that Loan Officer B, and at an average transaction commission of $800, that 4% will cause a difference in gross income of....get this:

Over $40,000! ($41,600 to be exact).

As we got to writing on loan officer, we found that the time we were given to write was inadequate to write all that there is to write about loan officer! So vast are its resources.

Becoming a better closer is like any other skill that can be studied and mastered through education and practice. Pick any book by Brian Tracy or Todd Duncan, and you are well on your way. Also, take the time to practice scripts and/or roleplay. It's not just knowing what to say, it's also knowing how to say it and it will only sound natural through repetition.

So the next time you are brainstorming ways to improve your business, remember how changing your closing ratio (by just a little bit) can generate incredible financial rewards. Just a 4% change caused a difference in over forty grand in income.
Don't be the average loan officer. Be different and be remembered.

In conclusion, I feel this article on loan officer will get its worth once people like you feel that you have benefited from reading this. Best of luck!