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 …
Last week, Jeff Bezos released his final shareholder letter as CEO of Amazon. His yearly shareholder letters are always worth reading because Bezos often provides important business insights that are meaningful for other companies and their employees. In the most recent letter, he reflected, “If you want to be successful in business (in life, actually), …
An Originator’s Key to Success According to Jeff Bezos Read More »
In the last few weeks, nearly every conversation I’ve had with senior mortgage executives has centered on one of two issues: finding sales and processor talent; and delivering an excellent customer experience throughout the loan process. To be sure, getting the human capital side of the mortgage business right when volume is through the …
Lenders’ Biggest Dilemma: Invest in Training or Be Replaced Read More »
Many mortgage managers consider their companies to be originator-centric. These senior executives believe that sales employees drive success and they feel that their lender’s originator support is a competitive advantage. I certainly understand this viewpoint, especially in such a difficult recruiting environment. However, I would argue that focusing entirely on the originator experience can lead …
How Customer-Centric is Your Sales Organization? Read More »
One of the most common complaints that I hear from managers is how Quicken is soliciting borrowers before the lender’s sales staff is able to do so. By reaching out first, Quicken is able to get loans from bank customers before the bank that owns the account! Lenders are frustrated and upset that their …
Since there has been so much discussion this past year on whether technology will replace originators, I thought I would share my niece’s experience purchasing her first home. What made all the difference? Her loan officer! My niece got married last June at age 36. She has wanted to own a home for a while …
Recently, Ford Motor Company abruptly terminated its CEO, Mark Fields — a move that surprised many people in the financial sector. Apparently, the board of directors and chairman Bill Ford, Jr. believed that Fields had not done enough to put the company ahead of the curve regarding future technology in its industry, specifically in the …
The Firing of Ford CEO Mark Fields and Mortgage Banking Read More »
