Tools You Can Use to Recruit Top Loan Officers

As we delve into the best ways to identify and utilize loan officer recruiting tools, we are reminded of a recent MMI webinar where Ben Green, Recruiting and Strategic Partnerships Leader at Elite Performance Associates, shared the following:

“A recruitment strategy can be based on market share, niche product specialties, and platform match… Some lenders may be a better home for top producers with a lean toward jumbo loans, while others may be aggressively focused on non-coastal geographies doing a bunch of new construction.”

To fit your strategy, we recommend that you utilize a mortgage data platform as your north star and primary tool – this will allow you to access critical loan officer performance metrics. From there, you can leverage a variety of other recruitment tools to recruit loan officers. Our blog post on how to recruit top loan officers is a good place to get started. 

Top Loan Officer Recruiting Tools 

With the right mortgage data guidance system, you’ll have access to many types of tools that help you hone in on recruiting top talent in your geographic area of focus.

Recruiting loan officers demands a specialized approach, and there’s a range of tools at your disposal. Here’s a breakdown of some essential tools that can supercharge your recruitment efforts:

Mortgage Data Platform or Data Guidance System

The cornerstone of effective recruitment, a mortgage data platform, or data guidance system like MMI, provides a comprehensive view of loan officer metrics. Recruiters, talent acquisition teams, and business development teams leverage a platform like MMI to access unbiased loan officer performance data consisting of numbers, trends, product types, agent relationships, and more – enabling them to make data-driven choices. 

You must know your own story to identify what data to focus on and where it is leading you next. A system like this enables you to narrow down your search and fact check self-reported loan officer data.

A mortgage data solution also allows you to easily create lists of your top loan officer targets. These lists can then be prioritized based on value and volume. If you don’t have access to a data guidance system, you will need to create these lists manually. 

Finally, by connecting a mortgage data system to your CRM and marketing platform, it ensures a seamless transition from identifying top performers to engaging them effectively. Our article on the top loan officer performance metrics contains some helpful advice on what types of data to look for when recruiting loan officers.

Personal Connections

Leveraging personal connections in the industry has been an effective way to help recruit new loan officers and can yield excellent results. Professional networks, industry events, and referrals from trusted contacts can lead you to potential top performers who might not be actively seeking new opportunities.

Internal Resources

Your own team members can be valuable resources for recruitment. They often have insights into potential candidates who align with the company culture and values. Engage with your colleagues for recommendations, referrals and introductions.

Recruitment Software Platforms (ATS)

Investing in an Applicant Tracking System (ATS) streamlines the recruitment process, making it easier to manage candidate pipelines, track interactions, and collaborate with your team.

Niche Industry-Specific Job Boards

Niche job boards tailored to the mortgage and lending industry can help you reach candidates with the right expertise and interest. Consider posting jobs to specialty sites like Veterans United Home Loans Job Board or  MortgageJobBoard.

Targeted Industry Social Media Channels

Utilize platforms like LinkedIn to engage with potential candidates and showcase your company’s unique value proposition. Try the LinkedIn Loan Officers Recruiting Partners Group, and then also consider strategies and tactics using Facebook and Instagram.

Recruitment CRM Platforms

Recruitment Customer Relationship Management (CRM) platforms enable you to maintain, nurture and track relationships and communications with potential loan officers over time, ensuring you’re top-of-mind when they’re ready to make a move. Look into a comprehensive CRM and marketing system like Bonzo CRM.

Utilize a CRM with marketing tools like Bonzo to run outreach campaigns.

Marketing Technology Platforms

Integrate marketing technology into your recruiting tool stack to create compelling campaigns that resonate with potential loan officers. Automation tools can help you engage candidates effectively and consistently while measuring the effectiveness of different marketing tactics and campaigns.

Jumpstart Your Loan Officer Recruiting Tools Initiative

When recruiting, use your mortgage data platform to find top performing offices and their loan officers in specific geographic areas.

To put your plan into action, you can follow these three simple steps:

Inventory and Leverage Existing Tools 

Take stock of the tools you already have and ensure you’re using them to their full potential. Are there features and functions that you’re not taking advantage of? Are there certain things that you’re missing and need to add to your arsenal to be more effective at recruiting?

Identify New Tools 

Research and identify new tools that align with your recruitment strategy. Schedule demos to compare and contrast tools’ features and functions and assess their suitability for your needs.

Review Strategy and Tools with Your Team 

Collaboration is key. Review your strategy and toolset with your team to ensure everyone is aligned and on board. What solutions are people using or not using? Are there solutions you could add to the mix that would benefit your tech stack and organization?

Creating a successful loan officer recruitment strategy involves a multifaceted approach. By understanding your company’s narrative, leveraging performance data, and utilizing specialized tools, you can assemble a high-performing team that drives your mortgage company’s success. Your recruitment efforts can elevate your company to new heights when backed by the right strategy and tools.

To explore how MMI can support your loan officer recruitment efforts, request a demo to see its capabilities in action.