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 […]

The Invisible Killer of Mortgage Sales Groups

During a recent conversation, a manager discussed how his company was handling an underperforming originator. The lender’s solution was to take away the individual’s draw and benefits but compensate the salesperson for any loans brought in. The manager felt that this approach was a great way to reduce the lender’s costs and address the problem […]

The Death of Sacred Cows in Sales

Last week, I wrote about the alarming performance of today’s originators in mortgage banking. The post hit home for many managers who admitted that 2.5 units per month per originator is not enough for their companies to make a profit. In fact, some even lamented that they have originators who are not even producing at this […]

The Hard Reality of Low Production Numbers

A recent analysis of loan officer performance for a mid-Atlantic state in 2016 revealed shockingly low production numbers. According to the data, the state had approximately 9,000 originators but only 300 originators produced $10 million in annual volume. In the past, $10 million in annual volume was not considered exemplary performance but in a refinance-driven […]