In mortgage banking, it is commonplace for originators to adopt the practices of successful producers. If one salesperson rises at 4:00 a.m., everyone else feels they must follow suit. If a top producer is active on LinkedIn, other originators will incorporate the platform in their own marketing strategies. Likewise, lenders are copycats too. If […]
Mortgage Originators: Don’t Be a Copycat! Read More »
Last week, Warner Bros. announced that all of its 2021 movie releases —17 in all – will be available on HBO Max (a streaming service) on the same day they debut in movie theatres. This is a major break from previous practices that had given movie theatres a competitive advantage by delaying a film’s
Mortgage Origination and the Digital Revolution Read More »
With recent interest rates at historic lows, originators haven’t had to worry about perfecting their selling skills because customers have come to them in droves. At the same time, Covid-19 restrictions have prompted consumers to shop remotely for food, cars, and everything in between. In response, businesses have quickly rolled out applications and delivery
How to Master Remote Selling Skills Read More »
Last week, shock waves rippled through mortgage banking after 50 basis points were unexpectedly added to refinance loan fees. This action took a lot of lenders by surprise and sent many originators into panic mode. This is yet another example that the business world is filled with events that can seemingly come out of nowhere.
What Car Salespeople Can Teach Originators Read More »
While lenders are super busy now, many in our industry are wondering what mortgage lending will look like after the pandemic is over. Will we return to “business as usual” or will the environment be completely different? I believe it will be the latter. For managers with 20 years or more left to work
Winning in a Period of “Optimum Warning” Read More »
Amid the COVID-19 global pandemic, where every day is unpredictable — coupled with extreme financial market fluctuations — it feels like being on a roller coaster without any guardrails. The best way to describe today’s financial marketplace is simply as an economic upheaval. This reminds me of the 1987 stock market crash when I
Restarting vs. Resetting Your Business Sales Model Read More »
Every salesperson has personally experienced how dramatically selling has changed in the last five years. Prospects don’t answer their phones or respond to emails as they once did. This is a daily fact of selling life and is very frustrating, especially for veteran originators. Considering the difficulty accessing prospects in the current marketplace, it is
Are Your Originators Still “Telling and Selling”? They Need to Stop! 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 »
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 »
