One of my colleagues recently observed that mortgage bankers are facing difficult decisions regarding the fundamentals of their business. Caught between a rock and a hard place, these firms are trying to implement critical fixes while generating volume and revenues to fund the necessary changes — not an easy task! According to my colleague, the […]
Last week, a National Mortgage News article discussed the results of Fannie Mae’s Q1 2018 Mortgage Lender Sentiment Survey which measures lender’s profit-margin outlook. According to NMN, mortgage lenders had the highest level of pessimism recorded since 2014. This is not surprising given the current challenges our industry faces: the decline of the refinance market, […]
Anyone who has ever managed in mortgage banking has had a discussion with their supervisor regarding employees who are not working out as planned. The conversation usually goes something like “If we invest more time and money into this underperforming salesperson, he or she will turnaround and improve.” The problem with this approach is that […]
Today’s customers are smarter than ever regarding the products and services they purchase. The internet has changed everything by providing a vast wealth of information on every topic imaginable including mortgages. Furthermore, customers are rating their experiences from eating at restaurants to buying vitamins to working with mortgage originators. These opinions carry an inordinate amount […]