Loan Officer Business Plan Worksheet - MortgageCoach

[Pages:3]Loan Officer Business Plan Worksheet

Step 1: KNOW YOUR NUMBERS During this exercise we will walk you through the process of quantifying your plan, all the way from the number of leads you will need to the number of loans you will need in order to reach your annual income goal.

Year

Month

Week

Day

1. What is my desired income level?

$

$

$

$

2. Average commission per loan for the

last 12 months

$

3. Number of funded loans required (#1 divided by #2)

4. Average loan amount for past 12 months

$

5. What is my dollar closing goal?

(#3 x #4)

$

6. Funding to application % (should be

a minimum of 80% - target of 95%)

%

7. Calculate the number of applications I'll need to meet my funding goal (#3 divided by #6)

8. Prequalification to application

conversion rate (should be minimum

of 25% working toward 75% with DISC training)

%

9. Number of prequlifications required (#7 divided by #8)

10. Refinance percentage in previous year?

%

11. Hourly wage (#1 divided by 2,080)

Record the numbers in the boxes from #3, #7 and #9 on the top of your One-Page Simple Business Plan.

Copyright 1998 Building Champions, Inc.

Step 2: MASTER THE DISCIPLINES

Prospect 90 min daily - Meet with 3 Realtors weekly and have 5 calls daily

Create the MC habit so every famlies gets a TCA every single time

Every time I meet with a Realtor use my mobile device to share stories and strategies

Update communcation 2x each week with client and Realtor

Master Product Knowledge - Confidence comes from Competence (MC, Programs, LinkedIn)

a disciplined focused morning routine which includes practicing scripting, gaining product knowledge, exercise, etc

What are the mandatory disciplines that will cause you to succeed regardless of market conditions or other factors affecting your performance? Record your disciplines on the above diagram then transfer them to your One-Page Simple Business Plan.

Examples:

s Set 2 appointments with partner prospects weekly

s?Monthly P&L review tracking ROI - first Fridays

s?Partner planning meetings monthly

s?Schedule recurring weekly team meetings regarding

s?Two hours of ON time weekly to practice or learn new goals - every Monday at 7 a.m.

skill - same day and time

s?Daily pipeline meetings

s?Five loyal client calls per day set as a recurring activity

Step 3: IDENTIFY THE IMPROVEMENTS What three to five projects will you implement next year that will change and enhance your business? Prioritize them and assign target completion dates. Record your projects below and then transfer them to your One-Page Simple Business Plan.

1. _C_r_e_at_e_2_0__T_C_A_'s__o_ve_r_t_h_e_n_e_x_t _2_w_e_e_k_s_?__;)______________________________________

_J_a_n_1_5__th_____

2. _a_d_d_1__do_w__n_lo_a_d_a_p_p_d_a_i_ly__fo_r_m__y_H_B_M__________________________________________

____________

3. _W__or_k_o_n__d_at_a_b_a_s_e_to__im__pr_o_v_e_q_u_a_li_ty_a_n_d__c_la_s_s_ify__A_,B__&_C__c_li_e_nt_s_a_n_d_r_e_fe_r_ra_l_p_a_r_tn_e_rs_.______

____________

4. _C_a_l_l o_n__b_o_th_a_g_e_n_t_s_a_t _m_in_i_m_u_m__tw__o_ti_m_e_s_o_n__e_a_ch__p_u_rc_h_a_s_e_. ________________________

____________

5. _M_a_k_e__di_re_c_t_c_o_n_ta_c_t_w_it_h_a_l_l 2_0_1_5__cl_o_s_e_d_lo_a_n_s_._F_e_e_d_b_a_c_k_f_ro_m__th_e_i_r _e_xp_e_r_ie_n_c_e_; _co_p_y__o_f m__o_rt_gage state_m__e_n_t;_ta_x__h_a_nd_out of de

Examples: s?Hire and train an assistant s?Learn to effectively use my database as

a CRM system

s?Script myself and my team for excellence and create training plan to implement

s?Open new branch s?Utilize new technology

Copyright 1998 Building Champions, Inc.

Loan Officer Business Planning Tool

Step 1: KNOW YOUR NUMBERS Daily Prequals

Weekly Applications

Monthly Closings

Step 2: MASTER THE DISCIPLINES

Step 3: IDENTIFY THE IMPROVEMENTS Project List

1. ______________________________________________________________________ 2. ______________________________________________________________________ 3. ______________________________________________________________________ 4. ______________________________________________________________________ 5. ______________________________________________________________________

Target Date

____________ ____________ ____________ ____________ ____________

Copyright 1998 Building Champions, Inc.

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download