Earn a Branch Manager Mortgage Salary on YOUR Terms
In this article
When things get busy, it’s harder to move institutions. And that slight increase in revenue can sometimes make the things you hate about your lending institution a little more tolerable. You spend far too much time at work to simply tolerate it. What if you brought home a mortgage branch manager salary and liked it instead? Starting your own branch with MortgageRight offers benefits far beyond what you’re currently experiencing. Let’s peek inside your day and see where things could improve.
A Day in the Life
When you bring home a branch manager mortgage salary, you’ve earned it. Does your day look a little like this?
8:00 AM – 9:00 AM: Start the Day
8:00 AM: Arrive at the office and review new loan applications received overnight. Check for completeness and prioritize those needing immediate attention, such as pre-approvals.
8:30 AM: Catch up on market updates, review interest rates, and read relevant industry news to prepare for client meetings.
9:00 AM: Attend a quick team briefing to discuss any updates or changes in loan policies and current market conditions.
9:00 AM – 11:00 AM: Client Communication and Consultations
9:15 AM: Respond to emails and voicemails from clients and real estate agents, addressing any questions or concerns.
10:00 AM: Conduct a consultation meeting with a new client to discuss their financial situation, explain mortgage options, and start the pre-approval process.
11:00 AM – 12:30 PM: Processing and Collaboration
11:15 AM: Collaborate with the underwriting team to review applications in progress. Address any issues or missing information to prevent delays.
12:00 PM: Meet with a real estate agent to update them on a mutual client’s loan application status and discuss any potential hurdles.
12:30 PM – 1:30 PM: Lunch Break and Networking
12:30 PM: Take a lunch break, often used for networking with referral partners like real estate brokers or financial advisors.
1:00 PM: Attend a local real estate networking event or a virtual meeting to build relationships and discuss industry trends.
1:30 PM – 3:00 PM: Client Follow-ups and Meetings
1:30 PM: Follow up with clients in the loan application process to provide updates, request additional documents, and answer any questions.
2:30 PM: Meet with an existing client to discuss refinancing options due to recent changes in interest rates.
3:00 PM – 4:30 PM: Application Management and Product Planning
3:00 PM: Review loan applications in the pipeline with the processing team to ensure smooth progression and resolve any bottlenecks.
3:45 PM: Work on strategizing product offerings to stay competitive, reviewing market conditions, and planning new offerings with the product team.
4:30 PM – 6:00 PM: Review and Planning
4:30 PM: Conduct end-of-day reviews, summarizing the progress made on applications and any outstanding tasks that need attention.
5:00 PM: Update CRM with notes from client interactions and plan tasks for the following day, ensuring that priorities are set for meetings and application deadlines.
5:30 PM: Wrap up any remaining communications, sending out final emails or making calls before the end of the workday.
Except now it’s busy season, so it’s unlikely that your day ends at 6:00 p.m. And your to-do list probably covers a dozen additional tasks you don’t want to do, but because of the way your organization runs, you have to. It doesn’t have to be like this. Busy seasons are bound to happen, but you can earn a branch manager mortgage salary with a company that better supports your efforts—and that’s MortgageRight.
How Much Volume Can Your Institution Handle?
With the influx of new buyers and refinance clients, capacity management becomes a pressing concern. Handling a surge in volume requires an efficient process and a well-prepared team. Are you able to manage multiple buyers simultaneously without compromising service quality? When the market heats up, having systems to process more applications quickly and accurately becomes essential. MortgageRight offers several benefits that help you easily earn that branch manager mortgage salary.
Cutting-edge technology platforms automate and streamline the loan application process, so your time spent on manual data entry goes down — and application accuracy goes up. With MortgageRight’s integrated systems, you can track application progress in real time, allowing for quick adjustments and faster decision-making.
MortgageRight’s scalable infrastructure better supports growth, so you can ramp up operations swiftly as demand increases. By optimizing staff allocation, your team can handle more applications without feeling overwhelmed. And even with higher volumes, that personalized, 1:1 service you pride yourself on doesn’t have to go by the wayside. Maintain those client interactions through efficient comms channels for a five-star customer experience every time.
Do You Have the Products to Be Competitive?
When the industry is thriving, you want to secure new business and turn it into repeat customers. Offering the best products sets you apart, and that’s where MortgageRight shines, too. FHA, VA, and USDA loans, which cater to first-time homebuyers and veterans with specific needs, like lower or no down payments, broaden your appeal to a wider audience. Jumbo and high-balance loans help you serve those looking to purchase high-value properties, so you can also snag affluent buyers.
You’ve also got access to customizable and innovative products like non-qualified mortgage (Non-QM) products and Debt Service Coverage Ratio (DSCR) loans that’ll help you reach buyers with unique financial profiles that traditional loans may not accommodate. Mike Russo, Branch Manager at MortgageRight, emphasizes the ability to “fund every loan that comes across your desk.” Can you say that about your current institution?
Do You Have the Culture to Sustain Success?
It’s easy to stay motivated when the money is rolling in, but when things slow down, that’s the time to dig deep. Remember, you haven’t been happy with your current environment. Working within an entrepreneurial culture would be far more inspiring than hoping things turn around where you are. MortgageRight empowers you to earn that branch manager mortgage salary autonomously and efficiently. No more bureaucratic obstacles. You have the green light to innovate, identify opportunities, and adapt quickly to market trends as you see fit.
MortgageRight also eliminates red tape by giving employees direct access to decision-makers. Those personal relationships you develop with company leaders help foster a more supportive and professional environment. How often can you reach out to your current leadership? No, passing them in the hallway or glimpsing their face on a Zoom call doesn’t count. The emphasis on strong communication also extends to your team of underwriters. You’ll have direct access to them, too, for more timely decision-making, quick resolution of complex issues, and the ability to handle a diverse range of loan scenarios.
Do You Have a True P&L Model?
Chances are, someone else is telling YOU how to run things in your current position. MortgageRight’s Profit and Loss (P&L) model gives you full control over financial decisions and operational agility. With your hands on the financial reins, you can set competitive rates and adapt to local market conditions, managing profit margins effectively. You’ve also got access to better rates and the potential for increased revenue, as the P&L model captures all generated income without tiered compensation limitations. That means your branch manager mortgage salary is yours to set!
It’s easy to forget why you’re a Debbie Downer in your current position when you’re caught up in the busyness of day-to-day operations — but the advantages of switching to MortgageRight are clear. With greater control, competitive products, and an empowering culture, MortgageRight can make every season a busy one. Ready to transform your branch manager mortgage salary? Schedule a demo with MortgageRight today and see the difference for yourself.