Micromanagers and Their Impact on the Sales Team

  For originators, one of the most frustrating scenarios is working for a micromanager. At some point, everyone has experienced this type of controlling boss — someone who focuses on the details to such a degree that he or she creates an oppressive work environment. Never satisfied with any deliverable, micromanagers love to nit-pick and […]

How to Manage “Comfort Zone” Originators

Every company has originators who are pleasant, likeable and hit their budgeted goals every once in a while in a strong market. In many ways, these sales professionals are consistent but definitely not stars. These individuals may be helpful but when goals shift higher, they can’t seem to get out of their “comfort zone” and […]

False Assumptions and Mortgage Sales

This year, there has been no shortage of big name companies that were sold due to failing financial performance. One of the most recent, Whole Foods grocery chain, was purchased by Amazon after succumbing to increased competition in the organic food market and the resulting lower profit margins. Just this past week, Sears announced it […]

How to Manage Inconsistent Originators

For managers, there is no challenge more frustrating than working with originators who have sales talent but are inconsistent producers. In my consulting practice, I often hear senior managers share their personal torment regarding these individuals. Managers feel these producers could be great and have been known to spend countless hours attempting to develop their […]

What Works In Motivating Originators

  In today’s tougher origination marketplace, managers are struggling to help producers switch from reactive to proactive selling techniques. Frankly, they are not having much success. In my consulting practice, I find that managers are often mistaken about what really motivates their sales professionals. Many assume that higher basis points, lucrative contests or president’s club trips […]

The Rise and Fall of the Two-Unit-a-Month LO

Not too long ago, producers who originated a couple loans a month could make a decent living in mortgage banking. During the subprime years, it wasn’t unusual for originators to work part-time and generate substantial income due to high payouts. Those days have been over for a while but the industry still has many originators […]

What Matters Most: A Keystone Habit

In Charles Duhigg’s great book, The Power of Habit, he recounts the story of Alcoa’s CEO Paul O’Neill who stood up before investors and declared that the company would focus its entire strategy on bringing workplace injuries to zero. The investors were stunned to say the least with his announcement. O’Neill did not discuss profits […]