In mortgage banking, referral sources are the lifeblood of sustainable success for originators. But, before your sales team reaches out to potential partners and borrowers, they must answer fundamental questions about themselves and their target audience to effectively connect. Here’s a closer look at what LOs need to know: • Question 1: What makes you […]
Rising interest rates, limited inventory and the housing affordability crunch have made origination tougher in 2023. But, some lenders and LOs are finding relief from marketplace gridlock by offering home equity lending products – a customer-centric move that can pay off in the long run. Why it Matters • Black Knight Inc. reported that 80% […]
As LOs scramble to hit production goals in a challenging market, many lenders are searching for answers in all the wrong places. While adopting new technology or holding a big sales rally might seem like a logical next step, these options are not enough to generate loan demand long-term. In my experience, the only way […]
You know the drill: Social selling is a requirement for LOs who want to increase their visibility among potential customers and referral sources. Recent research from NAR underscores why LOs must cultivate a robust online presence if they want to get noticed in their marketplace. Why it matters: • 97% of all homebuyers used the […]
A recent study conducted by Lending Tree brought the housing affordability crunch into focus and identified the demographic groups most likely to be impacted. If lenders and LOs are going to effectively serve potential borrowers, understanding the scope of the affordability crisis is an essential part of the puzzle. Here’s a closer look: • The […]
Rising costs on goods and services, interest rate fluctuations, low housing inventory, affordability concerns – the barriers to homeownership are real but recent research from Freddie Mac indicates that there is a massive opportunity for LOs to connect with mortgage-ready individuals. Here’s what you need to know: • In its ground-breaking report, “Who Are The […]
Providing a better customer experience is at the heart of long-term success in mortgage banking. While this seems like a no-brainer for lenders and LOs, how to actually deliver on this promise is not always easy or clear. Why it matters: • Creating an excellent borrower experience throughout the home loan process is essential to […]
Limited housing inventory, affordability concerns and fallout from inflation continue to complicate the mortgage banking landscape. For lenders struggling to fill their pipelines with new loan apps, the answer may lie in expanding their product lines, according to Joe Camerieri, EVP of sales and strategy at Mortgage Cadence. Why it matters: • “If lenders can’t […]
According to a Loan Officer Hub originator survey, 92% of participants said that the most reliable way to expand your referral network is to “provide value.” And indeed, at the heart of every referral relationship is a strong desire to help your target audience succeed – whether that’s advising a repeat customer on refinancing a […]
What percentage of your LOs are consistently hitting – or exceeding – their sales goals? If you’ve settled for the status quo, it may cost your lender long-term stability and success. Why it matters: • Lackluster sales results are a clear indication that your sales team’s selling skills are at or below average. The problem? […]