“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 […]

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 […]

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 […]

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 […]

Are You a Sales Ninja?

In recent conversations with originators, the complaint I hear most often is that they are working harder than ever and seeing less results. They attribute their lower production to an ultra-competitive environment where they conduct pre-approvals only to have the customer go with another lender with better pricing. In many cases, this feedback is coming […]

The Starship Has Landed

A recent Washington Post article highlighted George Mason University’s new program where Starship Technologies installed robots on the campus to deliver food to students. The article mentioned how successful the robots were in driving students to eat breakfast, a meal that is usually skipped 88% of the time by undergraduates. In my view, the most […]