“Spray and Pray” Marketing is Dead

When speaking to originators and their managers, I hear frequent complaints about how tough origination is now. Many executives lament that their usual marketing efforts aren’t working as they once did. Unfortunately, many are still using a “spray and pray” approach to marketing. This strategy involves distributing mass marketing pieces and hoping that the message […]

The Changing Role of Loan Officers

Last week at the NY Secondary Market conference, most of the sales executives I met with asked, “What is the most important issue going forward for the industry?” My response I think will be surprising to many. While improving the manufacturing part of the process is important and long overdue, I believe our real challenge […]

A Legacy of Bad Decisions and Mortgage Banking

Last week, Macy’s and J.C. Penney announced plans to turn around poor performance for their respective businesses. This is not a new issue for either firm. Both former retail giants have been in a downward spiral for many years. Executive management changes and different strategic directions — from everyday low prices to mobile checkout stations […]

The Future Role of Originators is Micro-Influencing

In last week’s blog, I discussed the role of technology in mortgage banking and where the originator position is heading. I believe that in the not-too-distant future, artificial intelligence technology will be integral to the operational side of the business and will usurp functions that originators have traditionally performed. No longer will originators determine product […]

The Fallacy of Doing More in Origination

It seems that every time production gets more difficult, originators and their managers request training on how to increase their sales results. While it is reasonable to think that originators simply need to work harder to generate better results, this often isn’t enough to correct a sales slump. In my experience, the real solution is […]