OnCourse Learning Helps Accelerate New Hire On-Boarding for Mortgage Lender

THE COMPANY

Loansteady, a fast-growing national mortgage lender founded in 2018, has built a positive reputation as a people-centric, culture-driven company, earning a spot as a Best Place to Work by the Washington Business Journal in 2021. Known for taking a customized approach to each employee’s professional journey, they attribute their extraordinary growth to one key ingredient: a commitment to offering a positive human experience. Their growth strategy focuses on hiring both new-to-industry and industry experts who are passionate about what they do and offering them a wealth of support and resources to carve their own career path. Loansteady offers new employees a healthy blend of internal mortgage compliance courses and third-party training solutions, allowing them to get up-to-speed faster, and service their clients as home lending experts. OnCourse Learning has worked with Loansteady to achieve its new hire training goals, provided staff education opportunities, and fostered a meaningful workplace experience through sustainable training.

STRATEGY & GOALS

Director of Talent at Loansteady, Brent Clark, shared that their primary training goal was to find a trusted partner to provide engaging and effective compliance and professional development training. It was also critical that their employees have a fast and easy way to access mortgage training, industry news and sales videos all in one learning environment. “If I can keep them all in one location, it is better for me, better for them, and better for the company,” Clark proclaimed.

In addition to NMLS-approved licensing education, Clark requires his staff to complete annual compliance courses; including topics related to AML/BSA, TRID, Fair Lending Laws and Appraisals.

“For me, it was about partnering with a company that provides comprehensive training,” mentioned Clark. “While I need 20 hour pre-licensing, annual continuing education, I also need state level pre-licensing. In addition, we assign compliance training courses for the entire staff. On top of mortgage licensing training, I also need a partner who can provide our annually required compliance training,” Clark added.

To address Loansteady’s goals of bringing new mortgage loan originators up to speed quickly with licensure and mortgage exam-readiness, while adding state licenses, compliance and professional development training courses – OnCourse Learning delivered a comprehensive training solution.

THE RESULTS

By leveraging a single comprehensive training solution from OnCourse Learning, Loansteady now has a shortened timeline for on-boarding fully functional MLOs. Having the proper compliance and professional development training program in place is key to empowering their staff for licensure, loan origination capability, self-directed career growth and achieving their company goals.

Loansteady leverages OnCourse Learning for the following:

• 20 Hour SAFE Pre-Licensing
• PE – State Electives
• Prep xL – Personalized Exam Prep
• Continuing Education
• Governance, Risk and Compliance
• Mortgage HQ: All-in-One Learning Environment

Pre-Licensing Education & Exam Prep

By partnering with OnCourse Learning, Loansteady has been able to successfully on-board many new MLOs each year. Knowing that passing the mortgage exam is top of mind, OnCourse Learning empowers Clark and his team to easily and effectively assign critical on-boarding courses such as NMLS-approved 20 Hour SAFE pre-licensing and exam prep courses.

“In preparing our new hires, the 20 Hour SAFE pre-licensing and exam prep [Prep xL] approach has been huge for us – and the fact that there are practice exams, digital flash cards, games and quizzes. The complete package of putting personalized tools and adaptive learning techniques together is what we have been using and really increased our success rate of people passing the mortgage exam,” said Clark.

Mortgage HQ for Compliance Training & Professional Development:

Loansteady also takes full advantage of annually required training at OnCourse Learning instead of building it in-house. In addition to NMLS-approved training, Clark and his team leverage all-in-one mortgage training platform Mortgage HQ to assign learning tracks, fulfill internal compliance course requirements and deliver professional development training opportunities for employees to own their own growth. New MLOs can complete learning tracks specifically tailored to their individual experience level. The New Learning Track, inside Mortgage HQ, serves to help new MLOs better understand the mortgage industry and prepare for their role.

“We are able to get new-to-the-industry employees educated and ready – from start to finish – in under two months, which includes licensing and sales training. That is how fast we can get people through. The New MLO Learning Track inside Mortgage HQ has expedited new industry people to be prepared for their role,” Clark said.

In addition to Learning Tracks, there are motivational videos, industry news, a searchable knowledge center, payment calculators and a plethora of self-directed learning course topics for professionals to use for career advancement.

“Outside of the Learning Tracks, my favorite part of Mortgage HQ is that a lot of the content is self-service with content on-demand. It’s perfect for those employees who want to educate themselves, learn more and become experts in the industry,” Clark shared.