When speaking to originators and their managers, I hear frequent complaints about how tough origination is now. Many executives lament that their usual marketing efforts aren’t working as they once did. Unfortunately, many are still using a “spray and pray” approach to marketing. This strategy involves distributing mass marketing pieces and hoping that the message […]
“Spray and Pray” Marketing is Dead Read More »
Last week, a lender reached out to me regarding consulting services because the company’s production was down 20% from the previous year. This is a familiar scenario in mortgage banking where companies that once had high volumes are experiencing lower production and higher costs. The big question is what can lenders do to turn around their
Are You Running Your Business Like an Ostrich? Read More »
Last week at the NY Secondary Market conference, most of the sales executives I met with asked, “What is the most important issue going forward for the industry?” My response I think will be surprising to many. While improving the manufacturing part of the process is important and long overdue, I believe our real challenge
The Changing Role of Loan Officers Read More »
Prospecting is more difficult than ever because of all the filtering devices that exist. Yet salespeople still must prospect for new customers if they want to be successful in the long run. Unfortunately, originators who use phone calls or emails to prospect are experiencing record low response rates. Can you blame people for not answering
How to Cut Through the Clutter with Prospecting Efforts Read More »
In today’s volatile financial marketplace, lenders and their originators must position themselves as different from their competitors if they want to be successful. This reality is challenging everyone to abolish a “being average mindset” in delivering their services from prospecting to closing. Not doing so is a ticket to becoming irrelevant. Obviously, differentiating yourself
If Nothing Changes, then Nothing Changes Read More »
In a recent conversation with a veteran mortgage banking trainer, he commented that invariably in every class, there are adopters of the new selling techniques and those who plainly reject what is being taught. In my consulting practice I’ve seen this time and again. I find that top originators are more than willing to learn
Are Your Originators “Training Fakers\” or Resisters? Read More »
In a recent conversation with a veteran mortgage banking trainer, he commented that invariably in every class, there are adopters of the new selling techniques and those who plainly reject what is being taught. In my consulting practice I’ve seen this time and again. I find that top originators are more than willing to learn
Are Your Originators “Training Fakers\” or Resisters? Read More »
In recent conversations with originators, the complaint I hear most often is that they are working harder than ever and seeing less results. They attribute their lower production to an ultra-competitive environment where they conduct pre-approvals only to have the customer go with another lender with better pricing. In many cases, this feedback is coming
Are You a Sales Ninja? Read More »
Last week, scientists announced the discovery of an extraordinary, “supermassive” black hole at the center of Messier 87, a gigantic galaxy about 55 million light years away in the constellation Virgo. The image was produced by the Event Horizon Telescope, a network of 10 radio telescopes spread across the planet that functioned as if it
Messier 87 and Mortgage Banking Read More »
In a recent conversation, a mortgage coach told me she was asked to coach an experienced originator who was considered high potential for a sales team. When the coach met with the originator, she found out the individual was only producing two units a month and only worked four days a week. It was clear
The Dumbing Down of Originator Excellence! Read More »
