Are You Running Your Business Like an Ostrich?

Last week, a lender reached out to me regarding consulting services because the company’s production was down 20% from the previous year. This is a familiar scenario in mortgage banking where companies that once had high volumes are experiencing lower production and higher costs. The big question is what can lenders do to turn around their […]

If Nothing Changes, then Nothing Changes

  In today’s volatile financial marketplace, lenders and their originators must position themselves as different from their competitors if they want to be successful. This reality is challenging everyone to abolish a “being average mindset” in delivering their services from prospecting to closing. Not doing so is a ticket to becoming irrelevant. Obviously, differentiating yourself […]

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 […]