'Tis the season. Every year around this time, a select few lenders issue press statements congratulating their star LOs for having originated a billion dollars or more.
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Hello, LOs!
'Tis the season. Every year around this time, a select few lenders issue press statements congratulating their star LOs for having originated a billion dollars or more. And it is legitimately impressive – a billion dollars is more than some lenders originated in total this year.
That said, as those top-producing LOs will surely tell you, it's not as if they're doing everything themselves. That would be impossible. There are dozens of loan officers, support staff, processors, underwriters, marketers and closers helping the Shants, Bens and Brians of the world achieve ever-higher origination volumes.
In many ways, these top LOs run a company within a company (typically Guaranteed Rate). They have use of resources the average LO could only dream about, not to mention the marketing and referral power in being known as the billion dollar LO.
It's not dissimilar to some of the top-producing real estate agent teams – think Fredrik Eklund and Jon Gomes of Douglas Elliman; or Ryan Serhant, who essentially ran a business within Nest Seekers before establishing his own brokerage, known, of course, as Serhant.
So, LOs, lemme ask – what resources does the star LO at your shop get that you don't? And what do you generally think about the star LO model? Email me anonymously at jkleimann@housingwire.com.
They say it's who you know that counts. And at PennyMac, we know a lot of people. So, when you work for us, you'll work in an environment where warm leads are provided, which means less cold calling for you. Hiring Loan Officers. Apply Now!
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