Matching interested homebuyers with qualified loan officers is an important part of how you increase HFA loan volume. And though it shouldn’t feel like a popularity contest, that’s sometimes how it works.

Many HFAs have a directory where people can find qualified loan officers. Usually, these lists are ranked by volume or show who’s closed the most HFA loans.

Which makes sense, right?

You want to highlight your top performers.

But when the same loan officers always get the spotlight, newer loan officers have a harder time breaking in. That means fewer loan officers see the value in training on HFA programs, which means fewer people out there talking about your programs. And THAT means fewer homebuyers even know those programs exist.

So is there a way to reward high-performing loan officers while still giving new loan officers a chance to rise to the top?

We think the way HFAs choose to implement Loan Officer Matching can help.

Three Ways to Match

EverDwell currently has three methods for Loan Officer Matching, and each has trade-offs worth considering.

Universal Rotation

Universal rotation is the simplest method. It puts all approved loan officers on the same list. When a homebuyer lead comes through the Quick Check, it goes to whoever’s first in line. The next lead goes to the next loan officer and it continues like that until the first loan officer is at the front of the line again.

What works well

  • It’s the easiest method for HFAs like you to set up and manage.
  • It gives new loan officers the opportunity to shine as they’ll receive roughly the same amount of leads as veterans.

What to consider

  • In a large state, homebuyers might be matched with loan officers that are far away from their desired area. Not all homebuyers need a local loan officer, but some prefer it.
  • Loan officers in quieter markets may see more leads than normal, while those in busy markets see fewer.

Geographic Rotation

This method splits up your Loan Officers into different regions, often by county. Quick Check leads get routed by region and go to the first loan officer on that list, and then rotate through whoever’s next. Those region assignments can be chosen by loan officers, your HFA admins, or a mix of both.

What works well

  • Homebuyers are matched with a loan officer who knows their target area.
  • It works great for both homebuyers and loan officers that want to work more locally.

What to consider

  • You’ll need to manage coverage to ensure all regions or counties are covered by at least one loan officer. (BTW, EverDwell, notifies you of any gaps in regional coverage, which helps.)
  • Loan officer distribution will likely mirror the housing market. That means lots of options in high volume areas, and harder to find coverage in slower markets.

Language-Assisted Geographic Rotation

This method splits loan officers into both language and regional lists. Homebuyers who indicate in the Quick Check that they prefer a specific language will be distributed first to a list of loan officers who speak that language. Then the system will try to find someone on the list who’s also in their target region. If there’s no match for both, language takes priority.

What works well

  • Homebuyers are matched with a loan officer who speaks their preferred language.
  • You’re still matching by geography when possible.

What to consider

  • Like geographic rotation, you’ll need to manage coverage more carefully. (Again, EverDwell, spots gaps in regional coverage and preferred languages whenever possible).
  • Loan officers that speak multiple languages will have an advantage.
  • Distribution still often mirrors the housing market.

These methods of Loan Officer Matching give you flexibility in how to create a fair system depending on the size of the state, regional variability, and homebuyer preferences. But does that necessarily improve loan production?

Fair vs. Making Sure It’s Working

Obviously, giving select loan officers Quick Check leads is a real advantage. So, if a loan officer isn’t converting an acceptable number of leads into HFA loans, you might need to re-evaluate their eligibility. Removing a loan officer from your list is a drastic measure, but there are other steps you can take first to hold them accountable.
EverDwell’s Loan Officer and Leads Dashboards help you keep close tabs on everyone’s pipeline. With the data at your fingertips, you can easily identify outliers and investigate. When you spot someone who needs support, you can provide coaching and guidance to help them improve.

A Growing Platform

EverDwell is committed to providing you with the best tools to manage Quick Check leads, loan officers, and ensure that loan volume increases. And we’re always exploring new methods for Loan Officer Matching based on feedback from HFAs like yours and participating loan officers, especially as programs evolve with an ever-changing market.

Ready to see how it all works?

Schedule a demo and we’ll walk you through how EverDwell’s Quick Check can help your HFA reach its goals.