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 […]

Surviving and Thriving Amid Rising Interest Rates

  Faced with the grim reality of rising interest rates and lower production, mortgage firms are cutting sales staff in an effort to stay profitable. Unfortunately, this strategy reinforces mortgage banking’s reputation as a boom or bust business that has difficulty adjusting to a changing interest rate environment. This isn’t a new issue. External events […]

Are You Ready for 2030?

  Each year, Inman gathers a group of top real estate leaders to discuss the industry’s challenges and predict what the future holds for real estate. Inman’s report is a must-read for mortgage lenders and their sales professionals. Although 2030 seems a long way from now, it is right around the corner in terms of […]

The Case for Changing How We Measure LO Performance

In a more difficult mortgage market, it seems that old, potentially disastrous strategies are surfacing once again. With the decline of refinance lending, lenders are loosening underwriting conditions, relaxing credit guidelines and adding higher-risk credit products. It seems that every day, I’m receiving ads for 100% lending in my inbox. I am also seeing lenders […]

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 […]