Are Your Originators Jetsons or Flintstones?

In the 1960’s, Hanna-Barbera produced an animated sitcom TV show called “The Flintstones” depicting family life in the pre-historic days. In this fantasy version of the past, cavemen co-exist with dinosaurs and other long-extinct animals such as saber-toothed cats, and woolly mammoths. Like their mid-20th century counterparts, these cavemen listen to records, live in split-level […]

The $1 Million Decision

  In my experience, mortgage lenders fall into two categories when it comes to hiring originators. For one group, hiring is all about enticing producers to join their company without setting any criteria beyond a W-2 and loan reports that show the individual can self-source loans. These lenders view the sales force as hired hands […]

The Death of Sacred Cows in Sales

Last week, I wrote about the alarming performance of today’s originators in mortgage banking. The post hit home for many managers who admitted that 2.5 units per month per originator is not enough for their companies to make a profit. In fact, some even lamented that they have originators who are not even producing at this […]

Is Turnover Contagious?

Last week, during an MBA webinar series I conducted on recruiting, I asked attendees about the Number One problem hampering their company’s growth. Across the board, participants said that high turnover and the constant need to replace originators was one of their toughest challenges.  They also said that finding good originators has become harder and […]