5 • 743 Ratings
🗓️ 15 September 2025
⏱️ 41 minutes
🧾️ Download transcript
Episode 582
Welcome to Loan Officer Freedom, the #1 podcast in the country for loan officers, hosted by Carl White.
In this episode, Carl and Kristin Simpson dig into the speed to lead problem with real numbers, including the well known finding that 79 percent of borrowers close with the first loan officer they speak with, an MIT study showing conversion chances drop by roughly 80 percent after five minutes, and the shocking reality that the average response time in the industry hovers around 47 hours.
Carl shares a live demo of his team’s AI phone assistant that answers 24/7, captures caller details, answers common non-licensed questions, sends application links, books calendar appointments, and can hot transfer when the loan officer is available, all designed to stop prospects from hanging up and calling the next person.
You will hear how this tool protects family time and professional boundaries while increasing appointments, so you are not forced to choose between being present at your kid’s game and picking up every incoming call.
Want to kick the tires yourself, call 734-206-7164 for the same demo number Carl gives on the show and see how an AI assistant handles real conversations.
If you are ready for help putting this system in place, schedule a one-on-one free coaching call, click here or visit LoanOfficerStrategyCall.com.
Click on a timestamp to play from that location
| 0:00.0 | So Kristen Simpson, you'll see something cool? |
| 0:09.5 | Of course, always. |
| 0:11.0 | All right. |
| 0:12.1 | So you're just in the right episode. |
| 0:14.8 | If you want to learn about speed to lead and how to fix it. |
| 0:21.6 | So these numbers I'm getting ready to spit out, Kristen, came from a study from MIT. |
| 0:30.6 | So this is like a serious study done by serious people. |
| 0:34.6 | And it's astounding the stats that came out of this thing on the speed delete. |
| 0:41.3 | And basically what they were saying, let me look at the thing here, it says that the number |
| 0:49.3 | one, and I'm reading this, the number one leak likely in somebody's sales funnel is delayed response time. |
| 0:58.5 | I believe that. Oh, yeah. We're on to the next thing so quick. It's not even funny anymore. |
| 1:04.0 | So, and we've given this number before, 79% of the borrowers closed with the first loan office they talked to, right? |
| 1:10.8 | We've talked about that. |
| 1:12.3 | And just for a refresher, that means that, so 79% closed with the first loan officer they |
| 1:17.1 | talked to. |
| 1:17.5 | So that means that that's more important than my rate, my fees, my experience, programs that I |
| 1:27.1 | offer, company that I work for, all the scripting that I might be masterful at, that if somebody brand new to the business with a higher rate, higher fees, less experience, less scripted, but talks to them first, has a 79% chance of winning that deal from me right so that's a |
| 1:46.4 | remarkable number right so i'll give you another fact i called a hundred random loan officers |
| 1:55.8 | right i got somebody in the office got me a list of a hundred so not necessarily anybody that i |
| 2:00.8 | knew just i said give me a list of a hundred random mortgage loan officers in the office got me a list of 100, not necessarily anybody that I knew. |
| 2:01.5 | Just I said, give me a list of 100 random mortgage loan officers in the United States. |
| 2:06.5 | I called at 2 o'clock. |
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