The Ever-Changing World of Retail Origination

When discussing mortgage retail strategies for 2017, I hear two distinct camps of thought from senior managers generally based on their current responsibilities. Distributed retail managers talk about their branches while consumer direct managers speak about their centralized call centers. In mortgage banking, separate retail structures have been in place at most companies for years. […]

Failure to Change is Fatal

  For any business, failure to change and adapt to new marketplace conditions can be fatal. One recent example of this was Nokia’s acquisition by Microsoft. A LinkedIn article referenced Nokia’s CEO lamenting that “they did nothing wrong, but somehow lost the battle” when announcing that their company had been acquired. While Nokia had been a world […]

The Impact of Hiring Average Originators

  In the current marketplace, companies are recruiting like crazy in an attempt to improve sales performance. The problem is that hiring top producers is difficult because they are not easily pried loose from a competitor. As a result, companies end up recruiting and hiring middle-of-the-road originators, hoping that CRM systems and marketing will transform […]

Will Technology Replace Originators?

I just returned from the annual MBA conference in Boston where the Number 1 topic was technology and how companies need to implement it quickly or be left behind. One session conducted by Clara Shih even addressed the importance of originators using social media so they are viewed as a trusted advisor in financial sales. […]

Your Number 1 Product is Not What You Think!

  If you think that your lender’s non-qm, super-jumbo or first-time buyer loan program is your Number 1 product, you would be wrong. The reality is your top product is the customer experience that your company delivers. Not too long ago, mortgage banking firms claimed the key to winning customers was to provide quality products […]