The Flaws of 100% Commission Pay Plans

The 100% commission pay structure has long been considered the gold standard in mortgage lending as the best way to motivate originators to generate more volume.  Implicit in a 100% commission pay structure is that a large reward is available for sales professionals who do well. Lenders assume that originators who fail to perform will […]

The Fallacy of “I am Different”

  Why do sales groups and originators fail? While there are many reasons for poor results, one that I see frequently in my sales consulting practice is the “I am different” rationale for not making necessary changes and adapting to a new environment. Yes, every lender has a distinct customer base and marketplace. But, the […]

Why Being a Good Originator Isn’t Enough Anymore

  In today’s ultra-competitive marketplace, being a good salesperson isn’t enough to generate new business. These originators meet expectations but don’t go above and beyond to deliver an exceptional customer experience. They tend to perform well during refinance markets but lose momentum in purchase money markets because they don’t stand out amid their competitors. Good […]

The Truth About Solving LO Accountability Issues

During my recent MBA webinar on increasing sales production, many participants raised questions about how to make loan officers more accountable. This has always been a hot topic for lenders and their managers but the issue is especially critical as we approach 2020 and the formidable challenges that lie ahead. Knowing what drives accountability and […]