How to Motivate LOs in a Tough Market

In mortgage banking, it seems to be a perpetual question: “How do I motivate LOs in a tough market?” The short answer is you can’t. Motivation is an inside job. But, good managers CAN  create a positive environment that supports their team’s efforts to hit their sales goals. Here are the details: • Hire right. […]

The Smartest Move Lenders Can Make in 2023

  If your sales force isn’t tapping into a more multicultural market, you and your lender could be leaving millions in new business on the table. Why it matters: The buying power of African American, Asian American and Native American consumers, has increased exponentially to $3 trillion in 2020. Source: University of Georgia’s Selig Center […]

Safeguard Your Lender from Legal Risk

  As U.S. demographics shift, it is smart business to ramp up recruiting of non-white sales professionals. Why it matters: • In July 2022, the DOJ settled its first case on modern-day redlining with a non-bank. The settlement penalty was $25 million. • The DOJ cited many factors including the location of branches and the […]

The Key to Hiring Better Originators

If you’ve been in mortgage banking for any length of time, you’ve hired at least one salesperson who aced the interview and met production benchmarks – on paper – but failed to perform past the onboarding process. During my management career, I certainly hired my fair share of candidates who talked a good game and […]

Why Hiring Based Solely on a Sales Candidate’s Interview is a Mistake

In a recent article from The MReport, mortgage managers discussed their strategies for selecting and retaining new hires. While many managers easily evaluated sales candidates based on production reports, they often had difficulty trying to assess an originator’s people skills. To help them finalize a hiring decision, managers said they frequently relied on how well […]