Advice for New LP3

[Ronny Harpold]

Hey Everyone,
I will be starting with Waterstone Mortgage on July 11, 2022 as an LP3. I recently passed my SAFE MLO exam (I did not need it for employment but I thought it best that I show my dedication to the transition) and I wanted to know what advice you had for someone in my position. I am transitioning from Safety Manager of a manufacturing company to an entry level position in mortgage and I want to hit the ground running so I can help my branch manager focus on the higher level functions instead of worrying about medial tasks that I can take care of. Thank you for your time and suggestions.

-Ronny

[Dustin Owen]

Interesting? What Branch? LP III is a senior level position in my experience. Your job is to bring value. You bring value by being dependable, eager to learn and resourceful. Pick up the phone when it rings and be nice. Look for ways to convert more phone calls into credit pulls. Look for ways to convert more leads into loans. Look for ways to work the LO’s past client database and turn those clients into new loans or referrals to prospective new clients. Finally, become a forever student. You need to become a student to programs, products and guidelines and student to personal finance. Learn to love financial math.

[Ronny Harpold]

I will be part of the Hiawatha, Iowa branch. Thank you for the advice! Typically, I am a quick study and do not require much oversight once I am familiar with processes and get a broad idea of what people need. Studying is a necessity in life and the adage “If you aren’t growing, you are dying,” holds very true. I catch every podcast episode of yours, The NREP, Loan Officer Success podcast, and I try to stay on top of current events in finance and how they will affect everyone. Admittedly, I will need to learn more about the bond market and subscribe to people that analyze that area for a living. I ended up picking up an HP 12C and it does make calculations very easy and quick. Quick mental math is an area I could also improve in. However, I do remember you saying that it is pretty imperative to learn to think in 1/8ths and be able to convert between that and their percentage equivalents. The call scripts is something that will be different for me, but just like any system, it works if you work it!

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