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[Case Study] Superior loan officer support ratio spurs productivity

Bethany RamosAbout Cornerstone, Industry Professionals, Loan Officers

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hiring mortgage loan officers

Matt Valentine, Cornerstone Home Lending

Meet Matt Valentine: “Cornerstone knows how to build a team around a loan officer, allowing me to spend my time where it counts the most. A lot of times, this means chatting with referral partners so I can bring in more business. Cornerstone’s exceptional support takes clerical tasks off the table.”

Matt’s goal: Gain the freedom to grow a business

As Matt learned, working at Cornerstone is different. Getting back his free time and flexibility gave him the chance to better serve his borrowers and take on more business at the same time. This support has been invaluable, Matt says. “Once a loan is locked, I don’t have to touch a file again. Unless there’s some kind of pressing issue, which is rare.”

“Cornerstone’s Ops takes over completely. They have all procedures in place to move a borrower’s loan along quickly, to close on time and meet our company’s goal of 10 days. I’ve had zero problems.”

It’s true. At Cornerstone:

  • The average loan officer produces 22.7M in loan volume.
  • 330 profitable loan officers add up to 7.5B in loan volume.
  • Before Cornerstone, Matt funded 2-3M a month.

Seeking out talent who are in it to win it is why we’re ranked as the #1 mortgage lender on Glassdoor, with a 4.7 team member rating and a 94-percent referral rating.* Click here for the latest job openings.

Matt’s solution: Leverage support to get busy in a more productive way

Busy isn’t a bad word for loan officers looking to build a business that’s able to buffer an unpredictable economy. In fact, this is one of Matt’s main reasons for coming on board with Cornerstone and staying on as part of a high-producing team.

According to Matt, the top three benefits of working at Cornerstone include:

  1. Amazing company culture built on the concept of “work-family.”
  2. Consistent investment in our people, allowing LOs to perform at their peak.
  3. Superior LO support from in-house operations and sales staff.

Here’s a behind-the-scenes example of how it’s done:

  • Each loan officer has direct access to nine help desks, as well as an email group that allows them to ask for help on a loan company-wide should any questions arise.
  • A loan officer can always speak to an underwriter without closed doors, easily accessing the necessary assistance to close loans on time.
  • If a loan officer needs to find someone who can translate Mandarin, they can shoot out a request on the group email and get back an answer.
  • When a loan officer needs to work out programs for a first-time homebuyer, they can call an underwriter directly, who’d be happy to work together on a solution.
  • Team members support loan officers as a way to provide excellent service to our community. Everyone at Cornerstone, from the top down, is committed to our Core Convictions to use and improve upon our God-given talents to make a positive difference in the lives of our team members, customers, shareholders, and the people who provide our services.

“Total integration with Salesforce is another great example,” Matt explains. “In the past, a conversation with listing agents required me to send out a manual email to update them. But now these status updates are built in. So, title, appraisal, approvals, and all other updates go out automatically. I can focus on higher-level tasks for the purpose of making money.”

Salesforce integration makes working both sides of the deal easier, Matt says. Recently, Matt sent out an initial email update that picked up two new agents to partner with, brokering an instant connection. No cold introductions needed.

Matt’s results: Strong Ops + great culture = a business that’s ‘unbeatable’

Cornerstone Home Lending is a nationally ranked mortgage lender with 31 years of industry experience. Successful loan officers like Matt who become part of this well-oiled machine are also joining a winning team. Matt has seen the benefits.

Not only does working at Cornerstone feel like spending time in one big family, Matt says. “That combined with stout Ops and an amazing team culture is unbeatable.”

That’s a fact. At Cornerstone:

  • With more support, loan officers do more loans.
  • Cornerstone retail loan officers funded an average of 77 units in 2018.
  • This averages just under 6.5 loans per month, each month — the highest rating in the country.

Matt’s exceptional talents coupled with Cornerstone’s decades-worth of industry knowledge has made it possible for him to weather some of the most difficult times in the industry. Compared to other mortgage lenders that may not have the know-how to navigate economic slowdowns with ease, Cornerstone has closed out the last 12 months on a high note. This looks like building new technologies, improving marketing, breaking records, and winning national awards.

Cornerstone’s stellar track record of successfully navigating five previous downturns is, for Matt, a major advantage. Currently, Matt says he counts on Cornerstone’s 5.2 LO-to-team-member ratio — with 1 processor for every 1.25 loan officers, 1 underwriter for every 2.46 loan officers, and 1 closer for every 4.43 loan officers — to keep production up so that he hardly feels the impact of market downturns.

Be like Matt: Get first-rate support when you join our growing team

At Cornerstone, we’re really choosy about who we invite into our work-family. Not only because we have a tight-knit corporate culture that’s second to none but because we have a stellar industry reputation to uphold. If you feel like you could be a key player in maintaining our five-star rep, let’s get acquainted. Learn more about what happens when you get on board with a nationally-ranked lender that’s successfully navigated countless industry downturns while still boasting a 12-year span of consistent profitability.

*“Why Cornerstone is the #1 mortgage lender on Glassdoor.” HouseLoanBlog.net, Sept. 2018.

For educational purposes only. Please contact a qualified professional for specific guidance.

Sources deemed reliable but not guaranteed.

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