Be Obsessed or Be Average!

After working with sales organizations for the past 20+ years, I am always amazed how accurate the Pareto principle (80/20) is when analyzing loan officer production. In every sales group, there is always a smaller number of originators (the vital few) who are successful regardless of market conditions, volatile pricing and the highly regulated lending […]

What Lenders Need Now Are Great Managers!

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 […]

Disruptors and the Importance of People Analytics

In today’s more difficult marketplace, the question I hear most frequently is some version of “What must my company do to succeed in a world where the consumer’s home-buying journey has changed so dramatically?” Consider that in just five years, more than 50% of homebuyers are finding their homes by searching the Internet. This monumental […]

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 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 […]

Customer Satisfaction’s Seven Deadly Sins

One of the hottest topics in mortgage banking is customer satisfaction. Customer satisfaction is a measure of how well the company and the salesperson meets and surpasses the client’s expectations during the loan process. In mortgage banking, one of the keys to excellent customer service is meeting the customer’s closing date. According to Stratmor’s recent […]