The Oracle of Omaha has Spoken

The hottest question at the executive level is “When will lenders change their compensation packages for originators?” I’ve heard managers say that if someone will be the first to do it, they will follow but the reality is that no one wants to take the lead on this issue. If compensation metrics don’t change, more […]

What Lenders Need Now Are Great Managers!

It seems like every day I receive emails from lenders that want to hire producing branch managers. The job descriptions are usually similar and require the branch manager to be responsible for P&L, lead management and on-time closings; working with processing and underwriting; recruiting and retaining branch sales and support staff; and generating their own […]

Disruptors and the Importance of People Analytics

In today’s more difficult marketplace, the question I hear most frequently is some version of “What must my company do to succeed in a world where the consumer’s home-buying journey has changed so dramatically?” Consider that in just five years, more than 50% of homebuyers are finding their homes by searching the Internet. This monumental […]

New Selling Model: Deliver Value Daily

Not a day passes when I don’t hear from a manager about how difficult mortgage origination has become. Whether it is battling to recruit top producers or pricing wars regarding interest rates and closing fees, there is no question that competition is fierce. As one sales executive said to me recently, “it is hand-to-hand combat […]

Sales Methodology is Key to a Great Customer Experience

During a recent conversation, an experienced top producer lamented that companies don’t teach selling anymore. Early in her sales career, the originator learned sales techniques using Xerox Professional Selling Skills, a leading global sales training system. She observed that without a system in place, sales professionals must learn by trial and error which leaves results […]

The Mortgage Industry’s Madness Strategy 

    In my consulting practice, many mortgage executives who I speak with are very concerned about the rising cost to originate a loan in today’s marketplace. According to the MBA, the cost to originate has mushroomed to $8,500 per loan. Making a profit is difficult when originators are being paid large sign-up bonuses and […]