17 Mortgage Sales Manager Interview Questions and Answers

Mortgage sales managers are responsible for the sales and marketing of mortgages to consumers and businesses. They develop business relationships with clients, assess their needs, and recommend the best mortgage products. Before you can land this position, you’ll need to go through a mortgage sales manager interview.

To help you prepare for this important meeting, we’ve put together a list of questions that are commonly asked in mortgage sales manager interviews, along with sample answers.

Are you familiar with the mortgage industry?

Interviewers may ask this question to see if you have experience in the mortgage industry. They want to know that you can adapt to their company’s culture and processes. In your answer, share what you’ve learned about the mortgage industry so far. If you’re still learning about the industry, explain how you plan to learn more.

Example: “I am familiar with the mortgage industry because I worked as a loan officer for five years. During my time there, I learned about different types of loans, such as FHA loans and VA loans. I also learned about the various stages of the mortgage process, including pre-qualification, underwriting and closing. Now that I’m looking for a new job, I plan to research some of the latest trends in the industry.”

What are some of the most important skills for a mortgage sales manager to have?

This question can help the interviewer determine if you have the skills and abilities to be successful in this role. Use your answer to highlight some of the most important skills for a mortgage sales manager, such as communication, problem-solving, leadership and customer service skills.

Example: “The most important skill for a mortgage sales manager is excellent communication skills. You need to be able to clearly explain complex financial information to clients so they understand it. Another important skill is strong problem-solving skills because there are often challenges that arise during the mortgage process. It’s also important to have strong leadership skills since you will be managing a team of mortgage sales representatives.”

How would you describe the ideal candidate for a mortgage loan?

This question can help the interviewer understand your expectations for a candidate’s qualifications and experience. Use examples from your own background to describe what you look for in an ideal candidate, or use this opportunity to highlight any skills that you think are important for mortgage loan sales managers.

Example: “The ideal candidate should have at least five years of experience as a mortgage loan officer with excellent customer service skills. They should also be familiar with all aspects of the mortgage loan process, including pre-qualification, underwriting and closing. I believe it is essential for candidates to have strong communication skills and a positive attitude.”

What is your experience with developing new mortgage products?

This question can help the interviewer understand your experience with creating new mortgage products and how you might apply that experience to their company. Use examples from previous work experiences or explain what steps you would take if you were tasked with developing a new product for your current employer.

Example: “In my last role, I was responsible for helping create our company’s first ever fixed-rate mortgage. This process involved researching different types of mortgages and comparing them to our existing portfolio. We then had to decide which type of mortgage we wanted to offer based on customer demand and market trends. After deciding on a fixed-rate mortgage, I worked with other members of the team to develop the details of the loan, including interest rates, fees and repayment terms.”

Provide an example of a time when you successfully persuaded a client to purchase a more expensive home loan option.

An interviewer may ask this question to learn more about your sales skills and how you can help the company make more money. In your answer, try to explain why you chose that option for the client and what benefits it had.

Example: “In my last role as a mortgage sales associate, I worked with a client who was looking for a loan of $200,000. However, after speaking with them, I learned they were expecting their first child and wanted to buy a home large enough to accommodate their growing family. After discussing our options, we decided on a 30-year fixed rate loan at 4% interest. This allowed them to afford a larger home while still saving money in the long run.”

If a client calls with a question, what is your process for delegating the task to an underling?

This question is an opportunity to show your leadership skills and ability to delegate tasks. Your answer should include a specific example of how you would handle this situation, as well as the steps you would take to ensure that the underling was able to complete the task successfully.

Example: “If a client called me with a question about their mortgage, I would first make sure they were comfortable on the phone with me before asking them if they had any questions for my team. If they did have questions, I would ask them what kind of information they were looking for and then direct them to one of my underlings who specializes in that area.”

What would you do if a client called to say they were unhappy with their current mortgage and wanted to switch companies?

This question can help the interviewer understand how you would handle a challenging situation. Your answer should show that you have strong customer service skills and are willing to go above and beyond for your clients.

Example: “I would first ask them why they were unhappy with their current mortgage company, and I would try my best to resolve the issue. If it was something we could fix, I would do so immediately. If not, I would offer to find them another lender who could meet their needs. I would also make sure to follow up with them after our conversation to ensure they were happy with their new loan.”

How well do you know the ins and outs of the mortgage lending process?

This question is a great way to assess your knowledge of the mortgage industry and how you can use it to benefit your employer. When answering this question, make sure to highlight any certifications or training you’ve completed that relate to the position.

Example: “I have been working in the mortgage industry for five years now, so I am very familiar with all aspects of the lending process. In fact, I recently earned my Certified Mortgage Professional certification, which means I know everything there is to know about mortgages, including underwriting, closing and servicing loans. This knowledge has helped me develop strong relationships with clients and other professionals in the industry.”

Do you have experience training new employees on the ins and outs of mortgage sales?

This question can help the interviewer determine your leadership skills and how you might train new employees in their role. Use examples from previous experience to show that you’re a strong communicator who’s willing to teach others about mortgage sales.

Example: “In my last position, I trained two new employees on our company’s processes for selling mortgages. I started by giving them an overview of the entire process, including what they needed to do before meeting with clients and how to close deals once they had secured client interest. I also taught them about our software system so they could enter data accurately and efficiently. By explaining these processes clearly, both employees were able to start closing deals within one month.”

When is the best time to reach you?

This question can help the interviewer determine your availability and how you manage your time. It also helps them understand whether or not you will be available to meet with clients during business hours. When answering this question, consider what hours the company operates and try to align your answer with those times.

Example: “I am most available between 9 a.m. and 5 p.m., Monday through Friday. I find that these are the best hours for me to work with clients because it’s when they’re able to reach me as well. If there is an emergency outside of those hours, I’m more than happy to respond.”

We want to improve our customer service. Tell me about a strategy you would use to do that.

Interviewers may ask this question to learn more about your customer service skills and how you would improve the quality of their company’s services. In your answer, explain a strategy you used in the past that helped increase customer satisfaction or another way you could help improve the company’s customer service.

Example: “I think one of the best ways to improve customer service is by making sure all employees are knowledgeable about the products they’re selling. I’ve seen many companies implement training programs for new hires where experienced mortgage salespeople teach them the basics of what they do. This helps ensure everyone has the same knowledge so customers get consistent answers when they call.”

Describe your experience with using mortgage lending software.

The interviewer may ask this question to learn more about your experience with using mortgage software. This can help them determine if you have the necessary skills to use their company’s software and how much training you might need. In your answer, describe any previous experience you’ve had using mortgage lending software and what type of software it was.

Example: “In my last position as a mortgage sales associate, I used a software program called Mortgage Pro that helped me manage client information and track our progress on loans. The system allowed us to create custom reports for clients and managers so we could provide regular updates on loan status. It also provided an easy way to communicate with other team members when needed.”

What makes you an effective leader?

As a mortgage sales manager, you’ll need to be an effective leader. Employers ask this question to learn more about your leadership skills and how they can benefit their company. In your answer, explain what makes you a good leader and share examples of when you’ve used these skills in the past.

Example: “I am an empathetic person who is always looking for ways to help others. I believe that everyone has something valuable to contribute to the team, so I try to find ways to motivate my employees and make them feel valued. For example, at my last job, one of my employees was having some personal issues that were affecting her work performance. Instead of just telling her she needed to improve, I asked her if there was anything I could do to help. She told me about her situation, and I found a way to give her more flexibility with her schedule.”

Which mortgage products do you have the most experience selling?

This question can help the interviewer determine your level of expertise in the mortgage industry. It also helps them understand which products you’re most passionate about and how much experience you have selling those products. When answering this question, it can be beneficial to mention a product that’s relevant to the position you’re applying for.

Example: “I’ve had the most experience selling home equity loans and refinancing options. I find these two products are highly effective at helping clients achieve their financial goals. In my last role, I helped over 100 homeowners refinance their mortgages into more affordable monthly payments. This saved many families thousands of dollars each year.”

What do you think is the most important aspect of customer service in a sales position?

Interviewers ask this question to see how you prioritize your work and what skills you use to provide excellent customer service. Use examples from previous experience to explain which aspects of customer service are most important to you, and why they’re so crucial to the success of a mortgage sales team.

Example: “I think that empathy is one of the most important qualities in a salesperson because it allows me to understand my clients’ needs and concerns. I can then use that information to find solutions for them or refer them to someone who can help them with their unique situation. In my last position, I helped a client who was looking for a loan modification after being denied by another lender. I empathized with her situation and found ways to help her modify her loan while still meeting the bank’s requirements.”

How often do you follow up with clients after they’ve made a purchase?

This question can help the interviewer understand how you follow up with clients and ensure they’re happy with their purchase. Your answer should show that you value customer service and are willing to go above and beyond for your clients.

Example: “I make sure to call my clients at least once a month after they close on their home to see if there is anything I can do to help them or if they have any questions about their new mortgage. This helps me build relationships with my clients and ensures they feel comfortable reaching out to me in the future if they need assistance with something.”

There is a client who wants to borrow more than you think they can afford. How do you handle the situation?

An interviewer may ask this question to assess your ethics and how you handle challenging situations. In your answer, demonstrate that you have strong ethical principles and explain what steps you would take in this situation.

Example: “I believe it is my responsibility as a mortgage professional to ensure clients are borrowing within their budget. If I had a client who wanted to borrow more than I thought they could afford, I would first try to convince them of the benefits of a smaller loan. If they were adamant about wanting the larger loan, I would make sure they understood all the risks involved with taking on such a large debt. Ultimately, I would do everything I can to help them get into a home they feel comfortable with.”