7 Tips for the Overwhelmed Mortgage Licensing Manager

In today’s busy housing market, it’s not hard for mortgage licensing managers to feel overwhelmed with the ever-changing learning needs of their workforce.

Why do mortgage licensing managers feel overwhelmed sometimes? Because their mortgage loan originators and staff are involved in an abundance of business activity – from new recruits starting out in their roles and fulfilling NMLS licensing requirements to seasoned MLOs expanding their lending footprints in new geographic markets. Between keeping staff current and up to date with the various state regulatory agencies, licensing requirements, passing the national mortgage exam, and annually assigning important industry compliance topics to reduce organizational risk – there can be a lot of moving parts for mortgage licensing managers to keep track of.

As a licensing manager, it can be a challenge juggling all these avenues of learning needs, assigning learning tracks, as well as managing and submitting different kinds of student completion data to regulatory agencies. Having one single Learning Management System (LMS) that tracks student course completions and leveraging a comprehensive training solution will help deliver peace of mind for mortgage licensing managers.

Here are 7 Tips to Stay Organized and Support Your Success:

July Regulatory Compliance Updates for Banks and Credit Unions

1- All In One Training Solution

  • Work with an all-in-one training partner to define and assign learning tracks more efficiently. Why waste time chasing multiple cloud-based portals and systems to reach your goal of keeping your staff licensed and compliant? Avoid the hassle of managing multiple vendors and platforms where possible.

2 – Avoid Patch Work

  • Steer clear from manually piecing together training. It can become disjointed and confusing. Obtaining instant training from an all-in-one location makes it easier for both you and your students, instead of patch-working curriculums together. Read the case study on how Loansteady successfully leveraged a comprehensive mortgage training solution, including all-in-one training solution Mortgage HQ, to benefit their organization.

“OnCourse Learning is the only vendor that offers the NMLS-approved 20 Hour SAFE pre-licensing and exam prep courses, state specific licensing, continuing education, compliance and extracurricular training – all in one spot.

– Brent C.
OnCourse Learning Customer

View Success Story

3 – Engage Your Employees

  • Stay connected with your staff in today’s more virtual learning world with a more engaging training program. Rev up your training programs to keep your employees engaged.  Use highly engaging courses that feature audio narration, animated scenarios, infographics, interactive exercises, and knowledge checks. Employees who are actively engaged are more likely to perform better and stay with the company. Read ways training can provide employee engagement during social isolation.

4 – Pulse Check Your Current Training Program

  • Determine if you have an effective training program – or need to revitalize your existing one. Having an effective training program can reduce risk and increase production, revenue, and employee retention.

5 – Avoid Burnout

6 – Stick To a Plan

  • Implement a plan for improvement in your existing training programs – and stick with it. Recognize that training programs are always evolving and changing depending on your organization’s needs to best service the housing market.

7 – Ask Yourself the Key Questions

  • Consider addressing your current program and enhancing it with new compliance topics to benefit your workplace. Ask yourself, is your program comprehensive? Cost effective? Does it create a culture of compliance and demonstrate company commitment? Promote diversity and inclusion? If you don’t know where to start, read the four Cs of compliance training eBook.

OnCourse Learning offers comprehensive compliance and professional development education that includes mortgage pre-licensing, exam prep, continuing education and governance, risk and compliance courses. Our Mortgage HQ learning platform provides loan officers an affordable, all-in-one training solution that includes access to a comprehensive and ever-evolving library of sales, compliance and professional development topics that can be accessed and completed anytime — all under one roof. 

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By |2021-09-03T11:31:09-06:00September 3rd, 2021|Financial Services, Mortgage|Comments Off on 7 Tips for the Overwhelmed Mortgage Licensing Manager