What Type of Person Thrives in the Mortgage Industry According to a Mortgage Loan Officer at Academy Mortgage Corporation
Mortgage Loan Officers who thrive are "self-starters" and "go-getters," demonstrating the 80/20 rule where a small percentage achieve high production through daily process improvement and self-motivation. This high-achieving group consistently seeks ways to improve their performance, a crucial element for success in a field where average earnings are significantly lower than those of top performers.
Self-motivated, Goal-oriented, Results-driven, Persistent, Proactive
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Michael Chi-Ukpai
Mortgage Loan Officer
Academy Mortgage Corporation, ISAOA
University of Arizona
N/A
Entrepreneurship, Accounting
Finance (Banking, Fintech, Investing), Real Estate
Sales and Client Management
Honors Student, Scholarship Recipient, Pell Grant Recipient, Immigrant
Video Highlights
1. Self-starters and go-getters are essential for success in the mortgage industry.
2. Only 20% of loan officers produce 80% of the results, highlighting the importance of self-motivation.
3. Continuous improvement and daily process refinement are key to thriving in this competitive field.
Transcript
How would you describe people who typically thrive in this industry?
Self-starters are essential in this industry to thrive. There are statistics indicating that the average loan officer makes about $30,000 a year. This is true, but it reflects the 80/20 principle where 20% of the industry is doing 80% of the production.
That top 20% is full of self-driven people who wake up every morning focused on improving their processes. It goes back to being a go-getter. You have to be able to motivate yourself.
You must take what you've already done and look for ways to improve it every single day. These are the individuals who are thriving.