Mortgage managers and LOs know that capturing repeat and referral business from previous customers is mandatory for long-term success. When selling to former borrowers, the cost of acquisition is much lower than marketing to attract new customers. So, what does it take to keep customers coming back and referring their family and friends? Simply put, […]
Selling success requires a commitment from LOs to “get better every day” by learning something new and practicing the habits that separate top originators from average or sub-par producers. It is easy for LOs to say I will do it tomorrow or when things slow down or when I have more money to invest in […]
During a recent conversation, a senior executive shared how hard it’s been for some originators to transition from the easy business of the refinance boom to the tougher grind of purchase money. While managers and originators alike readily acknowledge that selling tactics need to change if they want to survive – and thrive – […]
There is no question that the pandemic accelerated trends that were already emerging in mortgage banking and as a result, lenders have been super-focused on updating technology in an attempt to stay ahead of the curve. While much of the emphasis has been on streamlining the loan process, the human side of the transaction […]
Anyone in mortgage banking can attest that origination is not for the faint of heart. Like many other industries, our business is cyclical which means LOs must endure the inevitable ups and downs which can be an emotional rollercoaster. So, when a prospect seems receptive to a sales pitch, it is understandable that LOs […]
Over the years, I’ve interviewed hundreds of top producers and analyzed the behaviors and traits that set them apart from the rest of the pack. One significant differentiator? The best in our industry have the most real estate agent referral sources. This is probably no surprise to sales leaders. Top originators are relentless in developing […]
In my LO sales training programs, I’m often surprised by how many originators believe the value they bring to customers is simply providing funding at closing. While helping borrowers purchase or refinance a home is certainly the outcome of a loan officer’s sales efforts, the best originators think differently about their role. Top producers view […]
In my recent conversations with senior executives, many sales leaders are panicked about their drop in sales volume and how tough the remainder of the year looks for their organizations. While the refinance boom’s record profits are quickly fading in the rearview mirror, the traditional purchase money market looms large on the road to success […]
Each year, Inman gathers a group of top real estate leaders to discuss the industry’s challenges and predict what the future holds for real estate. Inman’s report is a must-read for mortgage lenders and their sales professionals. Although 2030 seems a long way from now, it is right around the corner in terms of […]
In a more difficult mortgage market, it seems that old, potentially disastrous strategies are surfacing once again. With the decline of refinance lending, lenders are loosening underwriting conditions, relaxing credit guidelines and adding higher-risk credit products. It seems that every day, I’m receiving ads for 100% lending in my inbox. I am also seeing lenders […]