Conventional wisdom in our industry assumes that the next step for mortgage processors is the underwriter position. In the past, this seemed logical when the processor role was primarily administrative. But today, many lenders expect processors to communicate with borrowers, vendors, and other parties in the loan process. As the processor role has evolved, so […]
There is never a perfect time to make changes to your sales process. In the current marketplace, where volume is overwhelming and many lenders are turning away business, it may seem counterintuitive to discuss what it will take to succeed in a 2021 purchase money environment. Nothing could be further from the truth. According to […]
During my recent MBA webinar, “Owning the Customer: Keys to Originator Success,” I asked attendees whether their originators were reaching out to former customers. The overwhelming majority said producers were only using the lender’s CRM system to maintain contact. When asked to rate originators on customer engagement, the same attendees gave their producers a solid […]
I often write about what it takes for originators and managers to succeed in an ultra-competitive mortgage environment. Today, I want to discuss another person on the sales team who is indispensable – the mortgage processor. While mortgage processors are thought of as working behind-the-scenes, they are primary drivers of an excellent customer experience. The […]
During a recent training session on recruiting originators, I described our current mortgage environment as the “best of times and the worst of times.” The famous quote from Charles Dickens’ “A Tale of Two Cities” offers fresh insights for managers and originators trying to determine the best course of action for sustainable sales success. It […]
Selling is an emotional business that requires sales professionals to have a high level of emotional intelligence if they want to succeed. Emotional intelligence refers to originators’ ability to recognize, understand, and manage their emotions as well as those of their prospects and customers. This is not news. While sales candidates might be attracted to […]
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 […]
Every crisis provides an opportunity for mortgage managers to put everything on the table and re-examine their LOs’ selling models as they determine the best path forward. One manager recently said to me, the pandemic has changed everything and “inmates are no longer running the asylum in mortgage banking.” Of course, this may not be […]
While lenders are super busy now, many in our industry are wondering what mortgage lending will look like after the pandemic is over. Will we return to “business as usual” or will the environment be completely different? I believe it will be the latter. For managers with 20 years or more left to work […]
Sales success is one of the most frequently written about topics in the business world. A quick Google search pulls up more than 1 billion results on the subject! Countless articles and books have addressed what it takes to achieve sales success. Over the last 10 years, I have contributed my fair share to this […]