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rsd317
249 Posts |
 Posted - 08/07/2008 : 11:58:06 AM
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| what exactly is the role of a junior LO? |
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AGreene00
3064 Posts |
Posted - 08/07/2008 : 12:00:37 PM
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| Never heard that title. I thought everyone with 3 months experience gets to call themselves "Senior Loan Officer" in this business. |
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SCLoanGuy
33 Posts |
Posted - 08/07/2008 : 12:01:42 PM
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| His role is to find a loan for a bankrupt deadbeat dad with horrible credit in a single wide and get a stated 90% cash-out refi with LPMI |
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rsd317
249 Posts |
Posted - 08/07/2008 : 12:02:31 PM
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| not really helping out guys... |
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bestbet123
1690 Posts |
Posted - 08/07/2008 : 12:03:41 PM
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That would be the worst dressed,pimple faced loser you see averyday at work.he generally gets coffee and runs drycleaning to the cleaners.also buys lunch with his or her moneys,and usually lives at home with his parents.
quote:
Originally posted by rsd317
what exactly is the role of a junior LO?
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SCLoanGuy
33 Posts |
Posted - 08/07/2008 : 12:04:12 PM
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| sorry, but I don't think I've ever heard the term before. maybe a training LO? |
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CoolMtgGuy
9062 Posts |
Posted - 08/07/2008 : 12:05:51 PM
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The same as that of a senior LO. Titles are meaningless. At the end of the day, if you originate loans, you are an originator. If you process apps, you are a processor. If you fall in between these two jobs, pick one and become great at it. In the meantime, you can call yourself whatever you want.
quote:
Originally posted by rsd317
what exactly is the role of a junior LO?
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bestbet123
1690 Posts |
Posted - 08/07/2008 : 12:06:54 PM
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The fact that you have to ask that question is why your still a JR chedder burger.
quote:
Originally posted by rsd317
not really helping out guys...
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rsd317
249 Posts |
Posted - 08/07/2008 : 12:20:34 PM
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quote:
Originally posted by bestbet123
The fact that you have to ask that question is why your still a JR chedder burger.
quote:
Originally posted by rsd317
not really helping out guys...
hey d*ck bag i am looking to hire an assistant and wanted to see if it would be more beneficial to bring them on as a junior versus an assitant. |
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CreditRepGal
1972 Posts |
Posted - 08/07/2008 : 12:22:45 PM
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| I figure your sitting on a dialer and calling title leads...... because there is no way you are getting fresh hot leads the company paid for.... am I close? |
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WorldWideWayne
3113 Posts |
Posted - 08/07/2008 : 12:24:50 PM
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A Jr. LO usually is for bring in deals. Some put them on the phone for TMing. Othere send them out on the streets to drum up business.
Once there is an interested client, the Senior LO takes over.
Mostlly the Jr LO is there to make the sr lo $$$...and if the SR LO is a straight up guy, the Jr will learn something too and become a regular LO one day. |
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bestbet123
1690 Posts |
Posted - 08/07/2008 : 12:26:02 PM
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why not just say that donkeyboy....then you wouldn't get ribbed like you did,I think you should go apply for a JR LO job,jack a ss
quote:
Originally posted by rsd317
quote:
Originally posted by bestbet123
The fact that you have to ask that question is why your still a JR chedder burger.
quote:
Originally posted by rsd317
not really helping out guys...
hey d*ck bag i am looking to hire an assistant and wanted to see if it would be more beneficial to bring them on as a junior versus an assitant.
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mganovsky
2123 Posts |
Posted - 08/07/2008 : 12:31:00 PM
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hey d*ck bag i am looking to hire an assistant and wanted to see if it would be more beneficial to bring them on as a junior versus an assitant.
Lets not get testy, if you ask a stupid question you should get ready for a sarcastic or stupid remark.
CoolMtgGuy gave you the response you should be looking for.
Call him what you want, but when it boils down to it if you originate then you are an originator. Senior, Junior, Gofer or idiot (for being an assistant when he can be an originator) what ever |
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WorldWideWayne
3113 Posts |
Posted - 08/07/2008 : 12:32:32 PM
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| Are you all having a bad day? He asked a straight forwerd qusetion. What was the big deal in giving him a straight forward answer??? |
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ML
4971 Posts |
Posted - 08/07/2008 : 12:34:59 PM
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| I think the proper term for Junior LO is...B*tch! ...B*tch fax these documents, B*tch get me coffee, B*tch make two copies... |
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WorldWideWayne
3113 Posts |
Posted - 08/07/2008 : 12:35:45 PM
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| Also an assistant gets paid hourly or salary...a Jr gets paid nothing plus commission. |
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bestbet123
1690 Posts |
Posted - 08/07/2008 : 12:36:45 PM
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LMAO ....i don't care who you are that's funny...git r done!
quote:
Originally posted by ML
I think the propper term for Jr. LO is...B*tch! B*tch fax these documents, B*tch get me coffee, B*tch make two copies...
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toddblue
4343 Posts |
Posted - 08/07/2008 : 12:38:25 PM
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| Titles are meaningless. Unless it's A.A.G.G. |
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financeone
2332 Posts |
Posted - 08/07/2008 : 12:49:18 PM
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| AAGG---sounds like what one of my cats does on occassion. |
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ritabradley01
4945 Posts |
Posted - 08/07/2008 : 12:49:49 PM
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assitant is a funny word.
What exactly is the role of an assitant?
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ritabradley01
4945 Posts |
Posted - 08/07/2008 : 12:50:22 PM
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| What's an AAGG? I forgot. |
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jason3974
360 Posts |
Posted - 08/07/2008 : 1:00:45 PM
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quote:
Originally posted by rsd317
what exactly is the role of a junior LO?
I wish we wouldn't get so caught up in titles...We are all just sales people. That's it, so call them whatever you want on their business cards, just make sure they know they are sales people. |
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Agent_Mike
1033 Posts |
Posted - 08/07/2008 : 1:02:10 PM
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Many arguments start because of an ambiguity in the meaning of words. In this case, "junior loan officer."
What do you mean by that title? Is it an unlicensed individual? Is it a licensed individual who just joined the industry?
If it's someone who is unlicensed, they are not able to quote rates, programs, or otherwise act or perform the duties of a consultant. At best, they are able to help you with the paperworks and make some calls on your behalf. In some states they are able to telemarket, but must be careful not to quote rates or start acting like a consultant.
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ritabradley01
4945 Posts |
Posted - 08/07/2008 : 1:02:54 PM
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| Head Mother ****er What's In Charge? |
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bestbet123
1690 Posts |
Posted - 08/07/2008 : 1:38:25 PM
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LMAO(you know rita....laugh my a ss off)
quote:
Originally posted by ritabradley01
Head Mother ****er What's In Charge?
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lucky1s
3986 Posts |
Posted - 08/07/2008 : 1:57:27 PM
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"Just salespeople"?
I dont consider myself a saleperson.
I consider myself a real estate and lending specialist.
Loan agent is on my card.
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frank drigotas j
3868 Posts |
Posted - 08/07/2008 : 2:01:26 PM
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"Junior, The Loan Officer" might be better.
dollar |
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CoolMtgGuy
9062 Posts |
Posted - 08/07/2008 : 2:06:18 PM
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A salesperson sells a product. What does a specialist do?
quote:
Originally posted by lucky1s
"Just salespeople"?
I dont consider myself a saleperson.
I consider myself a real estate and lending specialist.
Loan agent is on my card.
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bramous
1075 Posts |
Posted - 08/07/2008 : 2:19:40 PM
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quote:
Originally posted by rsd317
what exactly is the role of a junior LO?
...pulls the fries out of the grease when the timer goes off. Next week he will be a Senior LO.
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clearwaterny
352 Posts |
Posted - 08/07/2008 : 2:23:45 PM
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A Junior LO if you were to compare is the Account Manager for the Account Executive at the bank. He coordinates and tries to smooth out the back end of the deals so the the Senior LO can originate more deals. As they are handling the deals they are to learn the process and the guidelines and keep in touch with the clients, eventually this Junior LO will be a Senior LO (whatever that means).
What alot of Originators and firms do is give you a title of Junior LO when all they really want you to do is cold call, fax, copy, blah blah. In essence make you a TM plus Admin. Hope that answers your question. |
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ritabradley01
4945 Posts |
Posted - 08/07/2008 : 2:26:34 PM
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quote:
Originally posted by bestbet123
LMAO(you know rita....laugh my a ss off)
quote:
Originally posted by ritabradley01
Head Mother ****er What's In Charge?
I know that one Bob!  |
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financeone
2332 Posts |
Posted - 08/07/2008 : 2:28:49 PM
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| What is it? |
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toddblue
4343 Posts |
Posted - 08/07/2008 : 2:33:03 PM
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quote:
Originally posted by ritabradley01
What's an AAGG? I forgot.
It's 'All Around Good Guy'. I got tired of everyone else having lofty titles with their names, so I created my own. |
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ritabradley01
4945 Posts |
Posted - 08/07/2008 : 2:52:11 PM
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| cool |
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jason3974
360 Posts |
Posted - 08/07/2008 : 3:37:58 PM
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quote:
Originally posted by lucky1s
"Just salespeople"?
I dont consider myself a saleperson.
I consider myself a real estate and lending specialist.
Loan agent is on my card.
With all due respect, you're a salesperson. People who sell any product are sales people, period. You don't see car salesmen/women calling themselves auto and driving specialist or Car agents. They're sales people, just like you and me. |
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StayInHomeGuy
281 Posts |
Posted - 08/07/2008 : 4:29:47 PM
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quote:
Originally posted by rsd317
hey d*ck bag i am looking to hire an assistant and wanted to see if it would be more beneficial to bring them on as a junior versus an assitant.
What does a job title mean anyway? How would it be more benficial to call your assiatant a Junior Loan Officer?
Jokes aside the company I started in with had JLO's, they were nothing more than telemarketers who were trying to learn the ropes in order to sell loans on their own, that was the good ol days when no licensing was needed. |
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frank drigotas j
3868 Posts |
Posted - 08/07/2008 : 6:00:32 PM
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Senior Advisor
stayinhomeguy, tagline title, above
What the hell is a "senior advisor"?
Is that someone who works the fringes because he is not licensed?
dollar |
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bestbet123
1690 Posts |
Posted - 08/07/2008 : 6:09:45 PM
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ouch.....Frank made a funny again....lol
quote:
Originally posted by frank drigotas jr
Senior Advisor
stayinhomeguy, tagline title, above
What the hell is a "senior advisor"?
Is that someone who works the fringes because he is not licensed?
dollar
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smoothlid
481 Posts |
Posted - 08/07/2008 : 7:52:11 PM
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To me, a Jr loan Officer is basically a Newbee ( less than 1 yr in business & unable to self source enough of their own business to earn a living ) who acts as an assistant to a mentoring & experienced LO or manager.
I prefer to bring in this type of person, & we offer a small base salary & hands on training in exchange for assisting us with some of our busy work, & marketing. We may also pay a small flat fee per loan worked on or % of the deal, depending on the situation. Anything the junior person can self source pays them more.
My Junior LO's will follow up on leads we generate, pull credit, load application info into LOS, do some processing & stip chasing, & learn to work with our agents, while developing their own referral contacts & training.
A good assistant LO or Junior LO will learn good habits, & eventually be able to generate their own business, thereby creating a need for a replacement.
Hope this helps. |
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allandivi
22 Posts |
Posted - 08/07/2008 : 7:58:27 PM
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| what is this junior LO, either you an LO or you are not! |
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KHufford
10407 Posts |
Posted - 08/07/2008 : 8:01:16 PM
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quote:
Originally posted by smoothlid
To me, a Jr loan Officer is basically a Newbee ( less than 1 yr in business & unable to self source enough of their own business to earn a living ) who acts as an assistant to a mentoring & experienced LO or manager.
I prefer to bring in this type of person, & we offer a small base salary & hands on training in exchange for assisting us with some of our busy work, & marketing. We may also pay a small flat fee per loan worked on or % of the deal, depending on the situation. Anything the junior person can self source pays them more.
My Junior LO's will follow up on leads we generate, pull credit, load application info into LOS, do some processing & stip chasing, & learn to work with our agents, while developing their own referral contacts & training.
A good assistant LO or Junior LO will learn good habits, & eventually be able to generate their own business, thereby creating a need for a replacement.
Hope this helps.
Finally someone actually answers this properly. Geez, thanks I was goign to say the same thing and you just saved me from having to type that much.
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bestbet123
1690 Posts |
Posted - 08/07/2008 : 8:08:09 PM
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| it's like a whopper but smaller. |
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Mandyvilla
6392 Posts |
Posted - 08/08/2008 : 06:46:58 AM
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quote:
Originally posted by bramous
quote:
Originally posted by rsd317
what exactly is the role of a junior LO?
...pulls the fries out of the grease when the timer goes off. Next week he will be a Senior LO.
And the week after, heis running for public office.
Seriously, titles are a joke. I stopped using the VP title years ago when they started handing them out like candy. It's funny to hear someone explain why they have the title - even funnier to try to keep a straight face listening to it. "Senior" makes me think I need AARP next to my name. I agree, in the end, we are there to sell a product. Like any other business, we get repeat and referral business because we do a good job.
Jr. Loan Officers can cost you more money than making you money, sales assistants free you up from admin duties so you can focus on marketing. In the past, I have started the trainee as a sales assistant first - understanding the 1003 and the documentation required (basic, not processing). If they are good (they can spot bad copy jobs right off, notices missing pages), move them up to the Jr. LO phase, taking a clean 1003, then turning the interview over to you for review. I can never remember a customer getting upset by aiding in training, as long as it's known you are close at hand and will be reviewing the work. By the time they are ready to do GFEs and turn in 1003s, they are ready to become a full fledged LO, still under your wings.
As for pay, all I am going to say is you get what you pay for....occassionally, you will find someone, a gem for low pay, but more often not. |
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