3 Tips for Loan Officers to Dominate in 2022

3 Tips for Loan Officers to Dominate in 2022

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The holidays came quickly to a close and it’s important to get 2022 moving with a bang and ensure that this year is your best year yet.  Below we have together the top 3 tips to ensure to kick-off this year strong. 

Review Your Why

Are you crystal clear on your WHY?

Your purpose, or your why, is defined as a central, self-prioritizing life force. Central in that if present, purpose is the central theme of a person’s identity. Something to think about, the truest measure of your success is invisible to your clients.” 

The reason is because your “why” is the foundation on which all success comes forth, in everything you do – but it’s below the surface, inside of you, invisible to the outside world.

Since the year just started it’s the perfect time to review your why and review how you did in business last year to start this year with purpose and intention.

Ask yourself the following, and make sure you separate out your business and your life. 

In business:

  • What worked? 
  • What didn’t?

In life:

  • What worked? 
  • What didn’t?

What did you accomplish last year that you are most proud of?

What were your top 2-3 lessons you learned that will never again be repeated?

In which business relationships do you need to invest more time?  Which ones should be terminated?

Review Your Hourly Rate

This is something that is asked a lot. You need to keep this in mind and truly understand this methodology: “You’re not paid by how many hours you work, which is generally where burnout occurs. You’re actually paid on what you do for every hour you give to labor.”

With that in mind, let’s take a look at your own hourly rate. 

What was your hourly rate for the year? Do you like it? Can it be improved? Where would you like it to be in one year?

Now consider your team, if you have one. What changes can you make with your team and your delegation to improve inefficiency?


What about your personal life? What changes can you make with your personal and family off the job time?

Complete Your Life Balance Questionnaire

Rate the following areas of your life on a scale of 1-5, with 5 indicating that this area of your life is working at a maximum achievement.

  1. How is your life working?
  2. How are you doing spiritually?
  3. How are you doing as a wife/husband?
  4. How are you doing as a father/mother?
  5. How are you doing as a son/daughter?
  6. How are you doing overall as a family unit?
  7. How are you doing with your physical body?
  8. How are you doing with your diet?
  9. How are you doing with your presented image?
  10. How are you doing in your profession?
  11. How are you doing with your “daily rhythm”?
  12. How are you doing with your income?
  13. How are you doing planning for retirement?
  14. How are you doing with recreation?
  15. How are you doing with your passions and gifts?
  16. How are you doing with “sacred rituals”?
  17. How is your friendship circle?
  18. How is your pace of gaining knowledge?
  19. How are you doing taking care of you? 
  20. How are you doing with personal and professional accountability

Complete a Yearly Self-Assessment

The year just started, so it’s time for you to complete a self-assessment. Ideally you would want to complete this at the end of the prior year.

Answer these questions:

  1. What is your average loan amount?
  2. How much money will you be earning this year?
  3. How many funded loans will it take to make your income goal happen?
  4. From how many strategic sources will you be getting that business?
  5. How many hours per day will you be working?
  6. How many days per week will you be working?
  7. How many weeks of vacation per year will you be taking?
  8. What will your perfect day look like?
  9. What do you want your brand to reflect in the marketplace?
  10. When do you want to retire?

Then work the metrics figured out as soon as possible and boom a business plan.

Simplified Business Plan

We’ve included sample numbers, please adjust them to your business and goals!

Part One: Volume Goals
Average Loan Amount: $200,000
Average Closing Dollar Goal: $40,000,000
Average Closing Units Goal: 200
Pull-through %:  90%
Annual Origination Goal: $44,000,000
Annual Origination Unit Goal: 222
Part Two: “Chunk Down”- Building Consistency
Annual Units Goal: 222
Monthly Units Goal: 18.5
Weekly Unit Goal: 4.625
Daily Units Goal: 1
Part Three: Referred Pre-Qual Conversation and Follow-up
Daily/Weekly Loans: 1
Conversation to Application %*: .25
Daily Referred Pre-Purchase Consultations Needed: 4
*This is the #1 thing on which you should focus
Part Four: Referral Standards for Partners
Monthly Referred PPC Conversations Needed: 80
Minimum Referred PPC Goal per Partner: 8
Total Referral Partners Needed: 10

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