Hiring – Page 2 – Pat Sherlock

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 […]

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What a Ryder Cup Captain Can Teach Mortgage Bankers

Last week’s Ryder Cup golf tournament was exciting to watch and certainly a terrific win for the U.S. While team captain Steve Stricker has played on losing teams in his own career, he knew things had to change if the U.S. team was going to turn it around this year. So, how did Stricker build

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When Does a Training Investment Make Sense?

I often hear from managers asking about training their underperforming originators. With the marketplace shift to purchase money, leadership teams have put underperformers on their radar as they try to address lower volume. When the market was hot last year, underperformers were there but overlooked because refi volume was off-the-charts. Now, with a less

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Do Your Originators Have the Skills to Move Borrowers to a Decision?

Many managers believe that improving their originators’ product knowledge is one of the most important investments they can make. The reasoning makes sense given that mortgage loan products are the lynchpin of the mortgage selling process. Qualifying borrowers and slotting them into the appropriate loan is essential for an originator’s success. However, managers tend to

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Overdependent on Top Producers to Hit Volume Goals?

In my recent conversations, mortgage executives have repeatedly lamented that their top producers are holding them hostage over resources, money and pricing. Especially troubling is that these high-performance sales professionals invariably tend to jump ship after the lender has conceded to their demands. In most cases, lenders have not even broken even before top producers

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The Top 5 Hiring Mistakes in Mortgage Banking

In the last 24 months, I have conducted more than 60 interviews with senior executives from all sectors of mortgage banking for my top-rated podcast, Mortgage Manager Playbook. With careers in TPO, Retail and Consumer Direct and an average 25 years in the industry, these individuals have done everything from launch phenomenally successful start-ups

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Are You Hiring Radical Change Agents?

Jamie Dimon, Chairman and CEO of JPMorgan Chase Bank and respected banking industry guru recently said in an interview that bankers lack imagination when it comes to envisioning what their customers need. He noted that Fintech companies in particular, “are making great strides in building both digital and physical banking products and services. From loans

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Executive Survey Results: How Effective are Your LOs in Marketing to Realtors?

Last week, I surveyed the top 50 mortgage sales executives on how effective their originators were at marketing to realtors and expanding their referral base. The results were eye-opening. The majority of survey participants rated their originators less than 5 on a scale of 1 to 10 (with 10 being the highest). I simultaneously surveyed

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An Originator’s Key to Success According to Jeff Bezos

Last week, Jeff Bezos released his final shareholder letter as CEO of Amazon. His yearly shareholder letters are always worth reading because Bezos often provides important business insights that are meaningful for other companies and their employees. In the most recent letter, he reflected, “If you want to be successful in business (in life, actually),

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Are Your Sales Leaders Unable to Envision Change?

During a recent industry webinar, a discussion about reducing time to close a loan boiled down to a single question: What would it take to have a 3-day close? One attendee asked, “Can mortgage bankers even conceptualize a 3-day close?” The event speaker weighed in, adding, “some practices are so ingrained in mortgage banking that

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