Every company has originators who are pleasant, likeable and hit their budgeted goals every once in a while in a strong market. In many ways, these sales professionals are consistent but definitely not stars. These individuals may be helpful but when goals shift higher, they can’t seem to get out of their “comfort zone” and […]
How to Manage “Comfort Zone” Originators Read More »
This year, there has been no shortage of big name companies that were sold due to failing financial performance. One of the most recent, Whole Foods grocery chain, was purchased by Amazon after succumbing to increased competition in the organic food market and the resulting lower profit margins. Just this past week, Sears announced it
False Assumptions and Mortgage Sales Read More »
There is no question that the back office in mortgage banking is rapidly changing with the rollout of e-mortgages and Day 1 certainty products. Faster loan processing is becoming an important competitive differentiator with firms promising closing times of two weeks or less. Lenders who do not respond to consumer demand for speed of
Why Digital Personal Branding is Critical for Success Read More »
In Charles Duhigg’s great book, The Power of Habit, he recounts the story of Alcoa’s CEO Paul O’Neill who stood up before investors and declared that the company would focus its entire strategy on bringing workplace injuries to zero. The investors were stunned to say the least with his announcement. O’Neill did not discuss profits
What Matters Most: A Keystone Habit Read More »
As we move further into the second quarter of the year, it is a good time to reflect on changes needed to kick-start sales performance. Certainly, rising interest rates, changing regulations and new technology can seem overwhelming at times. While these external factors can pre-occupy originators and their managers, the truth is that change needs
Bill Belichick’s Four Success Strategies for a Winning Team Read More »
Too often, I see originators selling to every prospect in the same way. It might be that these originators were taught a sales method a long time ago and haven’t updated their skills or have simply become complacent in their selling techniques. Whatever the reason, originators who use a “one-size-fits-all” approach are making a fatal
Why “One-Size-Fits-All” Doesn’t Work in Origination Read More »
In my sales training sessions with originators, it is clear that many of our industry’s producers are having a difficult time selling in today’s hyperconnected world. Likewise, management teams are facing similar issues. The big question is how to sell and market products and services when unlimited information, short attention spans and intense competition have
Why Sales Success is like High School Read More »
After the New England Patriots’ Super Bowl win last Sunday, there has been much discussion about whether Bill Belichick is the greatest coach of all time because of his team’s incredible record — 16 consecutive winning seasons in an era where the salary cap has made staying on top nearly impossible. How has Belichick been
The Pursuit of Sustainable Success Read More »
Last week, I had a dozen phone conversations with lenders who are concerned about the future of mortgage banking. Some managers believe looser financial regulations are coming back. Others contend that we are in a more transformative period. Whatever comes to pass, one thing is clear: the mortgage banking landscape of the future will not
Mortgage Sales Transformation: Stepping Up to the Plate Read More »
One of the top issues in mortgage banking is the question of how new technology will impact mortgage origination. In previous years, the back office has received all the technological focus and now it is time to shift that attention to the front-line. Certainly, agencies and vendors are finally coming out with products to address
Are Your Originators Digital Exiles? Read More »
