Two Sales Metrics that Really Matter in Origination

This year, a projected 20% reduction in volume is forcing many sales organizations to address difficult issues in order to improve sales results.  Traditionally, mortgage firms have attempted to increase production by hiring more originators. Others are counting on technology to make the difference in reducing costs and generating more business. In my opinion, the […]

What First-Time Home Buyers Need

Since there has been so much discussion this past year on whether technology will replace originators, I thought I would share my niece’s experience purchasing her first home. What made all the difference? Her loan officer! My niece got married last June at age 36. She has wanted to own a home for a while […]

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 […]