“Say It Isn’t So”

Yes, Joe, it is difficult for many to get a loan. I don't understand why average credit scores are so low - guess people simply don't make their payments on time. That, I think, would be the main reason for a low credit score.

  We wre at a social gathering with a nmber of loan officers in attenance bemoaning the fact that it is hard to get people interesting in this career....it is a challenging one !

Joe Petrowsky I would not worry too much about these rogue articles. On line mortgage funding is a horrible experience for most if not all, and buyers want to deal with someone in person, particularly when handing over sensitive financial records. Big box banks continue to lose market share regarding mortgages due to fixed, non-flexible policies and mortgage loan officers that do not think creatively. You have a solid future in my book!

We probably have a surplus of mortgage loan officers in our area but a shortage of the really good ones.

Good morning Joe, just like Realtors, loan officers will not be going away. It is much easier for buyers to work with a mortgage broker than banks for the obvious reasons.

I don't see this happening either Joe. People like to have a person to talk with and confide in and that is why a mortgage lender is an important element in the buying process.

Joe, I am agree that the consumer deserves a high quality service and loan officers are definitely here to stay.

Doesn't less loan officers mean potentially more business for you though Joe? I can't keep up with all the articles predicting the demise of almost every job field except for government workers and healthcare professionals. 

Just as a Realtor's job has changed over the years, loan officer's might too; but, that doesn't translate to a demise of the industry, at least not in my mind.

Apps and tech can never replace personal attention as well as it is one thing to give someone information, it is another thing to give someone expertise in how to use information.

Joe, I am of the opinion that we will need fewer LOs in the future for two main reasons: Less people qualifying for a loan AND technology that allows an LO to handle more clients atr a time.

BTW I think you are safe. Too many need and want you.

Bill Roberts

Well Joe Petrowsky .  I guess you and I are the next Walmart greeters because these same people are saying that Realtors will soon be obsolete.  I am so glad there are these experts out there to let us know what will happen to our careers in the near future.  Aren't you?

Joe - people like you will always be in demand.  I can see people getting more frustrating with clueless loan officers at banks.

The only way loan officers will go away is if people stop using them.  I don't see that happening anytime soon... unless the government starts giving away free houses and mortgages are no longer necessary.  Hmmmm... that gives me an idea for another government program.  HaHa.

Joe,

Most news reports are written to promote a hidden agenda, and are usually generalizing a small event somewhere just as small.  Statistics can be made to tell the truth or tell lies, it depends on the intent of the one whose uses them.  A

I would agree with the sentiment of the article - as technology has progressed a single loan officer can handle many more files than in years past, and still be effective.  What we need are more PROFESSIONAL loan officers, and fewer people who can barely spell 'mortgage' sitting in a cube wearing a headset selling rates and calling themselves LO's. 

Joe, I don't think we will be out of a job, but I do not thing the L.O. population will increase until the market recovers once again.

Joe

A mortgage broker is a much needed professional in the real estate industry . . . . and offers a service that a leader doesn't.

Good luck and success.

Lou Ludwig

Joe Petrowsky - I agree with George Souto Technology will continue to evolve many industries. However along with this 'high tech' there will need to be the 'high touch' you provide.

Cheers,

Tom

Not sure why he said that, but can some government regulation change everything?