Mortgage Production 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 Mortgage Production 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 Mortgage Production per Loan Officer?
The total dollar value (i.e., principal loan amount) of mortgage loans originated by the organization over a certain period of time divided by the total number of mortgage Loan Officers, or Loan Originators, working for the institution over the same time period.
Why should Mortgage Production per Loan Officer be measured?
Mortgage Loan Production per Loan Officer measures the average dollar amount of new mortgages originated by a single Loan Officer over a given period of time. This KPI, along with the total number of mortgages originated per Loan Officer, is an extremely important measure of Loan Officer productivity and an overall indication of the lending institution's profitability. There are several other leading indicators that can help to identify reasons for Loan Officer over/under-performance, including loan closing cycle times, pull-through rates and application volumes. Factors that can contribute to low loan production include complex mortgage application and underwriting processes, poor inbound lead generation tactics, a lack of transparency within the origination process (e.g., borrower is not aware of where their loan stands within the process at any given time), improper pre-approval processes, and interest rates and/or origination fees that are above industry standards.
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