As U.S. demographics shift, it is smart business to ramp up recruiting of non-white sales professionals. Why it matters: • In July 2022, the DOJ settled its first case on modern-day redlining with a non-bank. The settlement penalty was $25 million. • The DOJ cited many factors including the location of branches and the […]
Safeguard Your Lender from Legal Risk Read More »
Rising interest rates, limited housing inventory and the skyrocketing price of consumer goods have made the last half of 2022 an uphill climb for many lenders and LOs. While mortgage managers struggle to generate loan demand in a more volatile marketplace, I believe that the companies with solid hiring and employee retention strategies in
Does Your Lender Have a Winning Retention Strategy in Place? Read More »
Each year, Inman gathers a group of top real estate leaders to discuss the industry’s challenges and predict what the future holds for real estate. Inman’s report is a must-read for mortgage lenders and their sales professionals. Although 2030 seems a long way from now, it is right around the corner in terms of
Are You Ready for 2030? Read More »
There is no hotter topic in business than the Great Resignation — a term coined by economists for the mass exodus of employees from their jobs that began in 2021. The disruption caused by the global pandemic enabled many employees to rethink their careers, work/life balance, long-term goals and working conditions. The result? A
How to Resolve the Talent Acquisition and Retention Crisis Read More »
Succession planning is a dirty word in mortgage banking. Many senior executives realize how important their company’s continuity is for employees as well as their personal retirement wealth but developing – and implementing – a plan is another story. Failure to plan for future leadership can be devastating not only for the executives who
Succession Planning: Your Company’s Future Growth and Your Seamless Exit Depend on It! Read More »
In every conversation I’ve had regarding the 2022 mortgage banking forecast, it’s clear that the year ahead will be challenging for lenders and originators. For those new to the industry, this might be a shock but experienced producers are all too familiar with the industry’s boom-or-bust cycles. To be sure, interest rate fluctuations, housing supply
Are You Zigging When Others Are Zagging? Read More »
During a recent conversation, a mortgage banking executive shared how difficult it is for some originators to transition from the easy business of borrowers shopping for lower interest rates to the arguably tougher sell: Convincing prospects that financing a home loan for 30 years is in their best interest. Even when producers recognize and admit
The Key to Improving “B” Originators Read More »
The latest MBA industry forecast indicates a precipitous 62% drop in refinance volume for 2022. I think that all managers knew this day would come and it has finally arrived. The refinance party is over. The key question for leaders: What strategies will they implement to generate loan volume in a purchase money environment?
What Bill Parcells Can Teach Mortgage Bankers Read More »
During my training classes, I always ask students to check online ratings to see how borrowers feel about their lender’s customer experience. I also review a lender’s Glassdoor ratings to gain insight on employees’ experience with a company. I was curious whether borrower ratings were similar to employee ratings or not. Did consumer ratings correlate
The Solution to Poor Online Customer Reviews Read More »
A senior manager recently confided he is considering training to keep his sales team busy now that volume has dropped since the refi boom. He also revealed that many of his peers share a similar concern: If originators aren’t kept busy, they will jump ship for another company. In mortgage lending, the prevailing wisdom
Is Sales Training Only for the Slow Times? Read More »
