Jocelyn & Brock Predovich, founders of Limetree Lending, Inc. believe that the current mortgage industry is built upon a dying business model, and they’re working hard to replace it. In a commission-only and increasingly regulated industry, mortgage loan officers must be able to spend more time focused on growing their business in order to survive.
Although home sales fell slightly in October – likely due to uncertainty related to the government shutdown and debt ceiling battle – sales are still 6% higher than they were in October 2012. Most importantly for loan officers, home prices continue to rise. Prices in September were up 12% from a year earlier. This is all good news for the mortgage loan industry.
Unfortunately, under the old business model, mortgage loan officers must spend as much as 90% of their time focused on the details of the loan process. This keeps them from spending time on marketing activities that bring in new business and more income. Currently under this out-dated business model, the mortgage companies are still making money, but at the loan officer’s expense.
Limetree Lending, Inc. has created a new business model that supports the success of the loan officer. It gives loan officers both the freedom and support they need to focus on marketing their services and building their business. The new model works because each loan officer is assigned a licensed loan specialist who will take care of their clients and focus on the details involved with closing the loan.
“To be successful as a mortgage loan officer, you need to treat your role in the mortgage lending process like a business,” explains Jocelyn Predovich. “You must think like an entrepreneur and leverage your resources to handle more volume. When you use leverage to focus on what you’re great at – marketing and selling – you can experience massive success,” added Brock Predovich.
The old loan officer is dead. Limetree Lending, Inc. has built its entire business around a new model that connects loan officers who are good at bringing in loans with detail-oriented professionals who are good at closing loans. By designing a process that is highly efficient, Limetree Lending, Inc. has resurrected the loan officer.
In addition to creating a streamlined mortgage loan process, Limetree Lending, Inc. is setting a new standard in support for their loan officers with a true team approach, industry-leading marketing support, intuitive technology and simple, step-by-step, high-volume purchase business training. This new model helps loan officers turn leads into clients and real estate agents into partners while enabling them to close more loans than ever before.