NMP National Mortgage Professional November 2020

Better Learning Through Science

Exploring training opportunities and development post-COVID

BY MARY KAY SCULLY | CONTRIBUTING WRITER, NATIONAL MORTGAGE PROFESSIONAL

Only seven months ago, I was dealing with cancelled flights, crowded airports and shuttle buses, lost or cancelled hotel reservations and rubber chicken at conferences. And now all I can say is, “I miss it!” I miss the energy of a full conference room with the physical and mental interaction with peers across the industry. While everyone would love to pick back up where we left off in training opportunities, we have to adjust to the opportunities and restrictions that we face.

No one knows exactly when things will turn back to “normal,” or what normal will look like in the next year. What is clear is that lenders still need to make the time for professional development, which includes staying up to date on underwriting guidelines and strategies for originations after the refi boom. For trainers, work looks a little different these days and now it’s more important than ever to enhance training methods.

Guidelines from Fannie Mae and Freddie Mac are continuously changing, and it’s up to trainers to stay abreast of these changes and ensure they’re in the know. In fact, STRATMOR Group stated in their MortgageSAT Borrower Satisfaction Program, 2020, that three out of five loans experience at least one critical error in the loan process that jeopardizes the likelihood for a referral.

This begs us to question, what can we be doing better? How can employees be better learners, and how can trainers be better teachers?

HOW TO BE MORE ENGAGED AS A STUDENT

In a work from home environment it can be challenging to stay focused. Distractions abound – the phone buzzing, spouse or kids trying to complete their work down the hall, or the dog barking to go outside. For training, it’s important to stay focused and immerse yourself in the teaching. It’s not just about checking a box and completing a task, but absorbing the information to ensure you fully understand and retain the rules and guidelines presented.

The information you’re required to learn is not only important for your specific role, but also critical to the success of the company. Multiple errors can be damaging to a company and play a part in the number of referrals, quality of customer service and the overall reputation of the entire organization. It is your duty and responsibility to obtain the knowledge and stay engaged to perform at your absolute best.

HOW TO BE MORE ENGAGING AS A TRAINER

As the subject matter expert of the training and guidelines, it’s your responsibility to relay the message and make sure it sticks. Trainers need to be up on the latest guidelines to ensure the information they’re sharing is not outdated and new methods are being taught. Trainees turn to you for the answers and guidance on these issues, so it is a must that you are ahead of the curve.

Because of this, now is the time to look inward on your training methods. Working from home has been a challenge for many trainers, and while we’re unsure of how long this particular work environment will last, we must adjust and get comfortable doing so. This is the time to up your game by checking out podcasts, webinars, relevant books and other types of professional development tools to help you grow as a trainer. Understanding learning styles will help you engage all of your audience.

To be better students and better trainers, we must stay focused on the task at hand. Staying up to date on the industry’s latest rules and trends is first and foremost to help you help borrowers. Making yourself an expert helps cut down on critical errors that are so common today. During COVID-19, those errors may be related to temporary guidelines regarding income calculation, asset verification, mortgage payment validation or the request of a self-employed borrower’s profit and loss. Ultimately, you’ll have happier customers and likely receive more referrals, which benefits not only you, but your organization as well.

Mary Kay Scully is the director of customer education at Genworth Mortgage Insurance.