Sales Methodology is Key to a Great Customer Experience

During a recent conversation, an experienced top producer lamented that companies don’t teach selling anymore. Early in her sales career, the originator learned sales techniques using Xerox Professional Selling Skills, a leading global sales training system. She observed that without a system in place, sales professionals must learn by trial and error which leaves results […]

The Mortgage Industry’s Madness Strategy 

    In my consulting practice, many mortgage executives who I speak with are very concerned about the rising cost to originate a loan in today’s marketplace. According to the MBA, the cost to originate has mushroomed to $8,500 per loan. Making a profit is difficult when originators are being paid large sign-up bonuses and […]

The Invisible Killer of Mortgage Sales Groups

During a recent conversation, a manager discussed how his company was handling an underperforming originator. The lender’s solution was to take away the individual’s draw and benefits but compensate the salesperson for any loans brought in. The manager felt that this approach was a great way to reduce the lender’s costs and address the problem […]

The Branch Originator Sucker Bet  

In my opinion, placing an originator in a bank or credit union branch office is a sucker bet. For those unfamiliar with the gambling term, it is a wager in which the expected return is lower than the wager. An example of a sucker bet is the offer of insurance in blackjack. Why is the […]