During my recent conversations with sales leaders, managers across the board expressed concern about their originators adapting to the new environment of rising interest rates and the shift to purchase money. The decline in refinance business is a reality with mortgage applications dropping 43% in the last week, according to the MBA. This raises […]
Facing a New Reality: Five Ways to Win in a Purchase Money Market Read More »
Since 1999, I have analyzed top originators’ practices and personality traits — that’s 22 years and counting! I have conducted numerous validation studies in collaboration with psychologists to pinpoint the innate competencies that drive individuals to succeed in mortgage sales. The simple reality is that mortgage origination is a hard business and not everyone
How Well Are Your Originators Managing Their Most Important Asset? Read More »
In the last few weeks, nearly every conversation I’ve had with senior mortgage executives has centered on one of two issues: finding sales and processor talent; and delivering an excellent customer experience throughout the loan process. To be sure, getting the human capital side of the mortgage business right when volume is through the
Lenders’ Biggest Dilemma: Invest in Training or Be Replaced Read More »
Last week, mortgage interest rates rose an average of 13 basis points, according to Bankrate. While mortgage rates are still historically low, many lenders were caught off guard, thinking that interest rates wouldn’t increase until later in the year. Likewise, refinance applications dropped 7% to 68.5% of the total volume. Freddie Mac also reported
Are Your Originators Ready for a Purchase Money Market? Read More »
The recent deep freeze and power grid failure in Texas has raised questions about why state government did nothing to plan for the inevitable, even after receiving years of warnings and experiencing a similar cold snap in 2011. While there are differing opinions on exactly why the Lone Star state failed to take precautions, it
The Two Biggest Issues for Mortgage Bankers in 2021 Read More »
One positive impact of the pandemic is that originators have been forced to connect with customers via video conferencing. Before Covid-19 restrictions, some originators incorporated video into their sales process but many producers had not. With the rise of remote working, video conferencing has become a primary tool for personal interaction. Even sales leaders
Why Video Sales Presentation Skills Matter Read More »
Today, consumers have easy access to an unfathomable amount of information on every imaginable topic under the sun. Moreover, that information is being published at an astonishing rate. Consider that in 2020, YouTube users uploaded 500 hours of video every minute! Who would have thought 40 years ago that 2021 would be characterized by
What an “Attention Economy” Means for Originators Read More »
For years, the Golden Rule has been applied to the realm of marketing and selling. Treating people like you would like to be treated seems not only morally right but a good practice in the business world. Throughout history, this maxim has been upheld as a key to professional and personal success. But, when
The Golden Rule Doesn’t Apply in Marketing Anymore! Read More »
The most common selling mantras are based on the concept of “doing more.” Managers have forever emphasized that if originators simply work harder, knock on more doors or make more calls, sales success is guaranteed. While this sounds reasonable, it is not correct. It takes something else to succeed in origination. In selling, the “doing
Are You Rolling the Dice for Better Sales Results? Read More »
In mortgage origination, declining interest rates can result in overwhelming volume, as the industry experienced in 2020. While companies and producers alike racked up record profitability last year, a robust refinance market can distract lenders from focusing on critical long-term success strategies. When business is humming along, it is easy to become complacent and
Lenders: Are You Focused on What Matters Most? Read More »
