Seasoned originator talks about her growing referral network and outsourcing social media marketing
By now, it’s clear that the mortgage business is not just about rates.
Honesty and respect. Those are the core values that drive Alicia Alpenfels’ (pictured) success. The senior loan officer at Planet Home Lending also knows her company’s loan offerings like the back of her hand – a skill that allows her to provide accurate information and explain the value of a mortgage transaction to the customer.
“Know the programs in your area and be willing to walk away from a refinance if it doesn’t make sense for the homeowner,” Alpenfels told Mortgage Professional America.
“I am on the Homeownership Committee for the City of Boulder’s division of housing, where I help design guidelines for the affordable housing program. When I have a potential client call me about the program, I can talk with them about the details to make sure it’s the right product for them. Loan officers should be empowered to educate borrowers about their options. By knowing how to communicate your company’s programs, conversations with the borrower will be appreciated and actionable.”
After more than two decades in the industry, Alpenfels has put more emphasis on building her business network with people who also treat her customers with honesty and respect. In this Q&A, she talked about the things she’s working on improving to make her operations better and more efficient.
MPA: Can you tell us about your mortgage journey? How did you come into the industry?
Alicia Alpenfels: Back in the 90s, I decided to buy my own home, even though I was a social worker and my mother had to co-sign. As my coworkers and friends were constantly moving and worried about saving for their next security deposit, I realized how lucky I was to own a home. In the seven years that I owned that property, it appreciated by almost 300%. I was able to use some of the equity to pay off debt and continue to pursue my social work career. I saw first-hand how homeownership opens up many doors and knew that I was a prime example of why someone should own a home. When I decided to leave social work, I approached my mortgage broker about a job. He gave me my first shot as a loan opener. I touched every file and manually entered all the information. I started to see patterns and ways to structure loans. Learning the mortgage industry from the ground up has enabled me to help a variety of borrowers by analyzing their individual circumstances.
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MPA: What are three events that helped shape your life and career?
AA: 1. Buying my first home in my early 20s made a huge difference in my life. Pulling cash out of the equity helped me to pay off my debt during a time I made a modest salary. It was a game-changer in my awareness of the mortgage industry and how important a home loan can be in securing your financial future.
2. Recently, I was given award recognition based on homebuyer and real estate agent evaluations for the eleventh year. Over the years, this industry validation has helped my confidence and credibility grow in the industry.
3. The mortgage crisis in 2008 and 2009 helped shape my career and better my skills. The guidelines were constantly changing, and I had to think outside the box while collaborating with my fellow loan officers. Questions like, “How should I structure this?” and “How do we look at this?” were commonly addressed by the collective brainpower. Being comfortable with collaboration has made me a significantly better loan officer.
MPA: What are some mistakes you wish you could have avoided?
AA: I have always been independent, so it has been hard to ask for business (I don’t want to seem weak or needy). I now understand that people want to help others, and they, in fact, want your business to grow. While wishing I had asked for referral help earlier in my mortgage career, I have since built up a client base that brings me regular business.
MPA: Can you share something about yourself or your business that you’re working on improving and how you think your operations will be better/more productive/run more smoothly once you’ve accomplished your goal?
AA: I have been using social media more through the help of my marketing director. By delegating that piece of my operations, I have a more active social presence without worrying about what and when I post. LOs can partner up with social media marketing experts to write content, schedule posts, and keep their online presence current and informative. If you don’t have the skillset or time to manage Facebook, Instagram, and/or LinkedIn, I recommend turning these responsibilities over to an expert.
Read more: 5 tips to optimize your social media presence
MPA: When you’re considering partnering with another person or business, what factors are deal-breakers for you?
AA: Respect. I only work with individuals and businesses that I trust and respect to always do the right thing. I came to Planet because of the people. I had worked with members of Planet Boulder over the years before joining them in November of 2020, and I knew that I respected them professionally.
It’s also important to focus on building my business network with people who also treat my customers with honesty and respect. Networking events are great to expand this network. Early on in my career, networking events with the Boulder Chamber of Commerce helped grow my network and business.
MPA: Have you relied on any mentors throughout your career? What’s one piece of advice that greatly impacted you and your career trajectory?
AA: Several people have guided me throughout my career. The best advice I received was to see a home loan customer beyond a one-time transaction. I do whatever I can to build a trusting relationship with my clients so they remember me in the future. Planet helps me be a “lender for life” by retaining most of our servicing and monitoring my portfolio. I know when one of my homeowners would benefit from a refinance or is in the market for another home. When my customers respond to Planet’s custom marketing, they’re directed back to me for personalized outreach. Knowing my borrowers’ milestones allows me to serve as their trusted advisor beyond the life of their original loan.
MPA: What are you most excited about at work right now?
AA: It is a very challenging market, so I am happy to be working for a company that is doing everything possible to help our borrowers get under contract. We are offering TBD underwrites for conforming and jumbo products and closing in 15+ days. Employees at every level are stepping up to meet these fast deadlines to make our customers more competitive against cash offers. Because there is no indication that the housing pressure will subside anytime soon, I continue to encourage homebuyers to get in the market if they can. I am passionate about helping first-time homebuyers, recalling my own experience in buying my first home and the financial freedom it provided.
