Recruiting and Onboarding Loan Officers

Recruiting and onboarding loan officers is a crucial process that involves several key steps and considerations. This section provides an informative overview of how to effectively recruit and onboard loan officers, ensuring compliance and maximizing growth potential.

Process of Recruiting New Loan Officers

The recruitment process for loan officers involves identifying potential candidates who can contribute to the growth of the organization. It's important to note that individuals do not need to be licensed loan officers (LOs) to recruit others. However, they must join with a licensed LO to become a growth partner. This simultaneous joining ensures that both parties are aligned and ready to contribute to the business.

"To recruit people over, obviously, you don't have to be LOs."

Onboarding Procedures and Compliance

Once recruited, onboarding procedures must be followed to ensure compliance with industry standards. This includes helping new recruits obtain their NMLS license if they don't already have one. The onboarding process is designed to integrate new loan officers into the organization smoothly, providing them with the necessary tools and training to succeed.

Role of Growth Partners in Recruitment

Growth partners play a significant role in the recruitment process. They are responsible for bringing in new loan officers and ensuring that they are properly integrated into the organization. A growth partner becomes official once the recruited loan officer closes their first loan. This structure ensures that growth partners are actively contributing to the organization's success.

"You must be a licensed LO to recruit"

Importance of Having a Licensed Loan Officer for Recruitment

Having a licensed loan officer involved in the recruitment process is essential. It ensures that the recruitment is legitimate and that the new recruits are properly guided through the onboarding process. The organization does not favor recruiters who only recruit without being licensed or actively contributing to the business.

"We don't want people in that are gonna coast and recruit a couple and then live off the fat of the land forever."

By following these guidelines, organizations can effectively recruit and onboard loan officers, ensuring a strong and compliant team that contributes to the overall success of the business.