Mortgages Closed per Loan Officer
This PDF report includes benchmarking data (in a visual, chart-based format), an comprehensive KPI definition, characteristics of high performers and technical details on measuring Mortgages Closed per Loan Officer. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.
What is Mortgages Closed per Loan Officer?
The total number of mortgage loans closed (i.e., funded) by the company over a certain period of time divided by the average number of mortgage loan officers, or originators, working for the company over the same time period.
Why should Mortgages Closed per Loan Officer be measured?
Mortgages Closed per Loan Officer measures the average productivity (i.e., volume of loans closed per loan officer) of individual loan officers working for the lending institution. In all cases, a high value should be sought after for this particular metric, or KPI. Highly productive loan officers, and the organization's for which they work, have common qualities: standardized processes for lead generation and prospecting, a relatively small amount of available work time devoted to lower-value tasks (e.g., loan document collection, application processing, appointment setting, etc.), and highly proactive communication with potential borrowers are prevalent characteristics of high performing loan officers and sales organizations. Relatively high values for loan production should also be weighted with a few factors, including loan quality (i.e., credit-worthiness of borrowers, etc.), average loan amount, and the total dollar value of loan production (i.e., value of loans closed), and loan pull-through rates should be analyzed alongside this KPI to produce a full picture of loan officer work quality.
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