A few short years ago, there was no hotter car company than Tesla who was touted as the next great thing in automobile manufacturing. Recently, the company has fallen on difficult times. In Barron’s last week, Bob Lutz, a former Vice Chairman of General Motors, commented on Tesla’s current situation: “It’s an automobile company that […]
The hottest question at the executive level is “When will lenders change their compensation packages for originators?” I’ve heard managers say that if someone will be the first to do it, they will follow but the reality is that no one wants to take the lead on this issue. If compensation metrics don’t change, more […]
In a recent Business Insider article, Mark Abadi discussed the difference between amateurs and experts in Scrabble. He said inexperienced players don’t utilize the option to exchange tiles for new ones, thus losing the opportunity to improve future moves which may have higher point values. In essence, Scrabble experts would rather play the long game […]
It seems like every day I receive emails from lenders that want to hire producing branch managers. The job descriptions are usually similar and require the branch manager to be responsible for P&L, lead management and on-time closings; working with processing and underwriting; recruiting and retaining branch sales and support staff; and generating their own […]