Hiring – Page 4 – Pat Sherlock

Why Quality Mortgage Processors Are Essential to Sales Success

I often write about what it takes for originators and managers to succeed in an ultra-competitive mortgage environment. Today, I want to discuss another person on the sales team who is indispensable – the mortgage processor. While mortgage processors are thought of as working behind-the-scenes, they are primary drivers of an excellent customer experience. The […]

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Sales Success in the Best of Times and the Worst of Times

During a recent training session on recruiting originators, I described our current mortgage environment as the “best of times and the worst of times.” The famous quote from Charles Dickens’ “A Tale of Two Cities” offers fresh insights for managers and originators trying to determine the best course of action for sustainable sales success. It

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The Fallacy of “I am Different”

Why do sales groups and originators fail? While there are many reasons for poor results, one that I see frequently in my sales consulting practice is the “I am different” rationale for not making necessary changes and adapting to a new environment. Yes, every lender has a distinct customer base and marketplace. But, the

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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

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Three “OK Boomer” Moments in Mortgage Banking

Recently, the catchphrase “OK Boomer” has been trending in the media and on the Internet. The saying gained popularity when CNN showed a video of Chlöe Swarbrick speaking about the Zero Carbon Bill in New Zealand. When she was heckled by an older official, she casually dropped a sharp-tongued retort — \”OK Boomer\” —

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What I Learned from This Year’s MBA Conference

At the MBA conference last week, I spoke with many senior executives at a variety of different-sized lenders about the state of mortgage banking and their concerns for the immediate future. Out of those conversations, two primary topics emerged: Many senior managers acknowledge that the refinance boom-let has made them profitable, but they also recognize

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“White Lies” that Drive Low Retention

Recently, an originator asked me for advice about changing lenders. The grievances that the originator had with the current lender centered on three issues: Failure of the lender to have a consistent follow-up system or CRM to contact the originator’s previous customers and expecting the originator to do it on their own. Failure to give

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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

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Messier 87 and Mortgage Banking

Last week, scientists announced the discovery of an extraordinary, “supermassive” black hole at the center of Messier 87, a gigantic galaxy about 55 million light years away in the constellation Virgo. The image was produced by the Event Horizon Telescope, a network of 10 radio telescopes spread across the planet that functioned as if it

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The Dumbing Down of Originator Excellence!

In a recent conversation, a mortgage coach told me she was asked to coach an experienced originator who was considered high potential for a sales team. When the coach met with the originator, she found out the individual was only producing two units a month and only worked four days a week. It was clear

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