Hiring – Page 3 – Pat Sherlock

How Well Are Your Originators Managing Their Most Important Asset?

Since 1999, I have analyzed top originators’ practices and personality traits — that’s 22 years and counting! I have conducted numerous validation studies in collaboration with psychologists to pinpoint the innate competencies that drive individuals to succeed in mortgage sales. The simple reality is that mortgage origination is a hard business and not everyone […]

How Well Are Your Originators Managing Their Most Important Asset? Read More »

The Two Biggest Issues for Mortgage Bankers in 2021

The recent deep freeze and power grid failure in Texas has raised questions about why state government did nothing to plan for the inevitable, even after receiving years of warnings and experiencing a similar cold snap in 2011. While there are differing opinions on exactly why the Lone Star state failed to take precautions, it

The Two Biggest Issues for Mortgage Bankers in 2021 Read More »

Why Video Sales Presentation Skills Matter

One positive impact of the pandemic is that originators have been forced to connect with customers via video conferencing. Before Covid-19 restrictions, some originators incorporated video into their sales process but many producers had not. With the rise of remote working, video conferencing has become a primary tool for personal interaction. Even sales leaders

Why Video Sales Presentation Skills Matter Read More »

Lenders: Are You Focused on What Matters Most?

In mortgage origination, declining interest rates can result in overwhelming volume, as the industry experienced in 2020. While companies and producers alike racked up record profitability last year, a robust refinance market can distract lenders from focusing on critical long-term success strategies. When business is humming along, it is easy to become complacent and

Lenders: Are You Focused on What Matters Most? Read More »

Are You Evaluating Sales Candidates for Willingness to Learn?

In my 25+ years in mortgage banking, one thing that has remained constant is that most lenders recruit sales professionals who are experienced in mortgage origination instead of hiring rookies. These companies hire experienced “C” players rather than potential “A” producers who need to be trained and developed. There are two main beliefs that

Are You Evaluating Sales Candidates for Willingness to Learn? Read More »

Zillow’s Move to Salaried Real Estate Agents

Recently, Zillow announced that it was hiring its own employees to be real estate agents. While Redfin pioneered this approach, other firms such as Opendoor and Offerpad are also hiring agents for their new brokerage services. Mike DelPrete, a well-known real estate tech strategist, observed, “All the largest real estate disruptors are moving in

Zillow’s Move to Salaried Real Estate Agents Read More »

Why Large Mortgage Firms Need to Issue Annual Diversity & Inclusion Reports

Last week, PricewaterhouseCoopers (PwC) announced its first-ever Diversity & Inclusion Transparency Report. According to a recent Fortune article, “women and racially diverse talent now account for 65% of [PwC] entry-level hires, 7% of whom identify as Black, 12% as Latinx.” Shannon Schuyler, PwC Chief Purpose and Inclusion Officer, said the company’s goal is to

Why Large Mortgage Firms Need to Issue Annual Diversity & Inclusion Reports Read More »

Our Mortgage Sales Superstars Are Not Who You Think They Are!

Stratmor recently reported that 84% of the purchase money volume originated last year was generated by producers with less than five years in the mortgage business. When I shared this fact with senior executives, the majority were surprised; only a handful of managers noticed a similar trend at their companies. This raises the question,

Our Mortgage Sales Superstars Are Not Who You Think They Are! Read More »

Good Managers and the Remote Working World

Every day, we are witnessing changes that many predicted would be coming to the mortgage landscape, but now they have arrived. From online loan processing to video conferencing, our industry is undergoing a fundamental shift. While it is hard to concentrate on the future when the present is so robust with refinance volume, mortgage

Good Managers and the Remote Working World Read More »

Why Conventional Wisdom About the Processor Career Path is Flawed

Conventional wisdom in our industry assumes that the next step for mortgage processors is the underwriter position. In the past, this seemed logical when the processor role was primarily administrative. But today, many lenders expect processors to communicate with borrowers, vendors, and other parties in the loan process. As the processor role has evolved, so

Why Conventional Wisdom About the Processor Career Path is Flawed Read More »