Why Large Mortgage Firms Need to Issue Annual Diversity & Inclusion Reports

  Last week, PricewaterhouseCoopers (PwC) announced its first-ever Diversity & Inclusion Transparency Report. According to a recent Fortune article, “women and racially diverse talent now account for 65% of [PwC] entry-level hires, 7% of whom identify as Black, 12% as Latinx.” Shannon Schuyler, PwC Chief Purpose and Inclusion Officer, said the company’s goal is to […]

What Every Manager Should Be Asking Employees During the Pandemic

  Before the Covid-19 virus swept through the country, industries were already facing unprecedented challenges from technological innovation to dramatic shifts in consumer buying behavior.  But amid this global pandemic, selling has never been more difficult. Mortgage managers, originators, and home loan prospects alike are operating in an environment of extreme uncertainty about what the […]

Good Managers and the Remote Working World

  Every day, we are witnessing changes that many predicted would be coming to the mortgage landscape, but now they have arrived. From online loan processing to video conferencing, our industry is undergoing a fundamental shift. While it is hard to concentrate on the future when the present is so robust with refinance volume, mortgage […]

How to Conduct Training According to Quicken

  Last week, I discussed highlights from Quicken’s IPO  and how the company has achieved record growth by having a defined sales process; and training and developing employees. While these are certainly not new concepts, they are rarely practiced at mortgage banking firms. While a number of lenders claim to provide employees with a structured […]

Sales Success Starts with “Know Thyself!”

Selling is an emotional business that requires sales professionals to have a high level of emotional intelligence if they want to succeed. Emotional intelligence refers to originators’ ability to recognize, understand, and manage their emotions as well as those of their prospects and customers. This is not news. While sales candidates might be attracted to […]

Do You Really Want to Be a Successful Originator?

Every crisis provides an opportunity for mortgage managers to put everything on the table and re-examine their LOs’ selling models as they determine the best path forward. One manager recently said to me, the pandemic has changed everything and “inmates are no longer running the asylum in mortgage banking.” Of course, this may not be […]

“Lone Wolves” Starve to Death

A mortgage banking executive recently asked me what distinguishes more successful managers from their peers. This was easy to answer. In my experience, managers who get promoted to the highest levels surround themselves with their own personal “board of directors” who help them achieve their goals. Every manager has strengths and weaknesses. More successful managers […]