The benefits, Importance and Necessity of Cross Training

Written By: Theresa Furzland

With the additional demands and ever changing rules and regulations that we are dealing with these days it is more important than ever to be as knowledgeable as possible in all aspects of our industry.

It doesn’t matter what role you currently play. From origination through post closing we all have a responsibility, especially in these trying times, to do all we can to ensure the integrity of the data in our loan files. As I mentioned in my “introductory” blog a few weeks ago, I’ve had the unique opportunity to learn this business from the back room forward. I currently wear a few hats (I’ve cut back – used to have a whole closet full). I am currently a Branch Manager, Originator, do contract closing audits, doc prep and training. I have found that the experiences I’ve had in the post closing process have made me a much better originator. And I will also say that my origination experience has also made me a better closer. Just understanding the frustrations and requirements of each of these positions gives a perspective that wouldn’t be possible otherwise.

However, you don’t need to spend 25 years and hold 15 different jobs to attain this perspective.

If you are an originator, take a post closing and/or processing course. Closers can also benefit from processing courses, and so on. One of my favorite ways to train originators and processors is to start with closing and post closing requirements. I would love it if every loan officer had to spend a month clearing up post closing issues.

We all know that a complete and accurate origination of a loan file makes a world of difference in how smoothly the loan process goes. What isn’t as obvious is that when a closer knows what the originators, processors and underwriters have to deal with it can be invaluable when they have to explain WHY items are needed before the loan goes to the closing table and help them to recognize when an error has been made. This saves headaches both post closing AND at the closing table. This is also important from a customer service viewpoint. Every originators worst nightmare is having to face a customer at closing with a problem that causes delays, especially if they don’t understand it themselves .

The bottom line is, if you want to be the best you can be at your job – learn as much as you can. Take courses, learn ALL the guidelines and regulations and most importantly ask questions and seek out the answers to any aspect you don’t understand.

I tell my customers to educate themselves…we in the industry must do the same.


About The Author

Theresa Furzland - As an NAMP® staff writer, Theresa Furzland serves as an instructor for Loan Processor University (http://www.LoanProcessorTraining.org). Theresa has 25+ years of experience ranging from origination, processing, closing and post closing. She is currently a producing Branch Manager for LendSmart Mortgage, LLC and own and operate Willow Wood Mortgage Services, Inc. If you're interested in becoming a writer for NAMP®, please email us at: contact@mortgageprocessor.org.

 


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