What Mortgage Bankers Can Learn from Tesla

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 […]

Micromanaging and Sales Managers

During my recent training session with regional managers, attendees discussed the fatal flaw of micromanaging and cited it as a primary reason originators leave. By letting top producers “do their own thing,” managers felt they were able to spend more time trying to get another loan out of underperformers. While many managers believe that it is […]

The Pursuit of Sustainable Success

After the New England Patriots’ Super Bowl win last Sunday, there has been much discussion about whether Bill Belichick is the greatest coach of all time because of his team’s incredible record — 16 consecutive winning seasons in an era where the salary cap has made staying on top nearly impossible. How has Belichick been […]

The Secret to Working Less is Coaching More

In today’s business environment, where there never seems to be enough hours in the day to get things done, the concept of “working less” seems like an impossible dream. Everyone seems to be stretched too thin. Days fly by. There are impatient customers, demanding employees and reports due for corporate. Teaching people and helping them […]

Are You Missing This Hidden Opportunity in a Boom Market?

Mortgage origination is booming —largely thanks to marketplace changes precipitated by Brexit. In my conversations with originators and managers across the country, everyone seems to be having a great summer. However, during a refinance-driven market, it’s easier for companies to ignore poor sales behaviors when customers are contacting originators for a lower rate. This year, […]

A Rookie Originator Deserves a Great Coach!

There is little disagreement among corporate management that the task of all branch managers is to get the best from their sales personnel. In fact, the single most important managerial competency that separates highly effective managers from average ones is coaching ability according to the Harvard Business Review. However, at many mortgage companies, coaching isn’t […]