The Truth About Solving LO Accountability Issues

During my recent MBA webinar on increasing sales production, many participants raised questions about how to make loan officers more accountable. This has always been a hot topic for lenders and their managers but the issue is especially critical as we approach 2020 and the formidable challenges that lie ahead. Knowing what drives accountability and […]

What I Learned from This Year’s MBA Conference

At the MBA conference last week, I spoke with many senior executives at a variety of different-sized lenders about the state of mortgage banking and their concerns for the immediate future. Out of those conversations, two primary topics emerged: Many senior managers acknowledge that the refinance boom-let has made them profitable, but they also recognize […]

“White Lies” that Drive Low Retention

Recently, an originator asked me for advice about changing lenders. The grievances that the originator had with the current lender centered on three issues: Failure of the lender to have a consistent follow-up system or CRM to contact the originator’s previous customers and expecting the originator to do it on their own. Failure to give […]

The Changing Role of Loan Officers

Last week at the NY Secondary Market conference, most of the sales executives I met with asked, “What is the most important issue going forward for the industry?” My response I think will be surprising to many. While improving the manufacturing part of the process is important and long overdue, I believe our real challenge […]

Messier 87 and Mortgage Banking

Last week, scientists announced the discovery of an extraordinary, “supermassive” black hole at the center of Messier 87, a gigantic galaxy about 55 million light years away in the constellation Virgo. The image was produced by the Event Horizon Telescope, a network of 10 radio telescopes spread across the planet that functioned as if it […]

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 […]