During a recent discussion, a mortgage banking executive shared his objectives for the year ahead, noting, “I want all of my originators to be ‘up and out’ and meeting referral sources and customers in 2022.” This isn’t newsworthy for any sales professional. Frankly, it’s their job to connect with as many people as possible within […]
The Holy Grail of Origination Success Read More »
In 2020, many originators pushed prospecting to the backburner. Thanks to the record-breaking refinance boom, originators were able to hit volume and income goals without much effort in the prospecting department. This year, a very different story is playing out. While interest rates are still low, marketplace volatility has complicated the financial outlook. A recent
It is Time to Get Serious About Prospecting Read More »
The “do whatever it takes” sales strategy — a common mantra in mortgage banking — is often promoted as the best way to be successful in selling. This is no surprise when originators are on 100% commission and sales results drive their income. Many managers believe that each producer determines his or her own success
Why Doing “Whatever it Takes” Isn’t Enough to Improve Sales Results Read More »
Change is a topic that is discussed every day in the business world. Whether it is a better way to manage stress or learning social selling techniques, adopting new habits is essential if an originator wants to succeed in mortgage banking. For most of us, the hard part is making the necessary adjustments in
Baby Steps: The Best Way to Make Selling Changes Read More »
While social media is one of the most talked about subjects in selling, relatively few salespeople are using this sales tool consistently and effectively to generate loan demand. The most common excuses I hear from producers who aren’t taking advantage of social media are “I’m too busy” and “I wanted to but other things came
Becoming the Next “American Idol” Originator Read More »
Originators will often claim that a niche product, flexible underwriting or the latest mobile app is integral to their sales success. In my view, there is another factor that is often overlooked: Top salespeople have strong referral source and customer networks that they work consistently. It is probably no surprise that the very best originators
Your Social Network Strength Determines Your Selling Success Read More »
Recently, a mortgage executive told me that an originator had asked to use his personal marketing budget to buy leads from third-party vendors. Fortunately, the executive refused the originator’s request. Unfortunately, these requests are becoming more frequent and are indicative of the poor quality of originators at many mortgage lenders today. Before the internet, I
Are Your LOs Demanding Sales Leads? Read More »
Every salesperson knows the metaphor of low-hanging fruit. In sales origination, it means the easiest or simplest way to generate volume. These are the most obvious opportunities because they are readily achievable and do not require a lot of effort. In mortgage banking, refinances have provided low-hanging fruit for a long time. The problem is
Do You Know the Number One Problem in Mortgage Origination? Read More »
