Is Self-Service the Future of Mortgage Banking?

One of the most talked about topics in mortgage banking is whether the industry will evolve into a self-service business. Many managers are speculating whether purchasing a home loan will become a fully automated, point-and-click business similar to booking an airline flight or obtaining concert tickets. A number of high-level executives believe that digital is […]

How Quicken Is Stealing Your Accounts!

  One of the most common complaints that I hear from managers is how Quicken is soliciting borrowers before the lender’s sales staff is able to do so. By reaching out first, Quicken is able to get loans from bank customers before the bank that owns the account! Lenders are frustrated and upset that their […]

The Oracle of Omaha has Spoken

The hottest question at the executive level is “When will lenders change their compensation packages for originators?” I’ve heard managers say that if someone will be the first to do it, they will follow but the reality is that no one wants to take the lead on this issue. If compensation metrics don’t change, more […]

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 […]

Are You Willing to Be a Disruptor?

    As a sales organization “fixer,” I see first-hand how companies are defining their current sales problems in terms of external events such as rising interest rates, compressed margins and too many regulations. In my opinion, this outward focus masks the real issues why a company fails to implement essential changes. Too often, change […]

Redefining Market Presence in Mortgage Banking

Since time immemorial, selling has been defined by having a physical location. Whether in movies, books or on TV shows, the salesperson has typically been portrayed as someone who travels to a market and physically visits a customer or potential prospect.  Similarly, a sales manager’s primary job has been to take the map of a […]

Working Hard is Overhyped!

  While sales results have not been stellar this year, many mortgage banking managers believe that if their originators would just work harder, production would turn around. Unfortunately, working harder won’t make an appreciable difference amid our dramatically changing marketplace. What will? Succeeding in today’s difficult sales environment requires working smarter and adopting new selling […]