Mortgage managers who fall prey to these common myths could be holding your organization back from achieving better sales results. Let’s take a closer look: Myth #1: Anyone can sell. Many managers believe that quantity (feet on the street) is more important than the quality of their LOs when it comes to selling. However, research […]
Three Common Myths that Can Sabotage Your Sales Results Read More »
If you’ve been in mortgage banking for any length of time, you’ve hired at least one salesperson who aced the interview and met production benchmarks – on paper – but failed to perform past the onboarding process. During my management career, I certainly hired my fair share of candidates who talked a good game and
The Key to Hiring Better Originators 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 »
In a recent article from The MReport, mortgage managers discussed their strategies for selecting and retaining new hires. While many managers easily evaluated sales candidates based on production reports, they often had difficulty trying to assess an originator’s people skills. To help them finalize a hiring decision, managers said they frequently relied on how well
Why Hiring Based Solely on a Sales Candidate’s Interview is a Mistake Read More »
I often hear from managers asking about training their underperforming originators. With the marketplace shift to purchase money, leadership teams have put underperformers on their radar as they try to address lower volume. When the market was hot last year, underperformers were there but overlooked because refi volume was off-the-charts. Now, with a less
When Does a Training Investment Make Sense? Read More »
In the last 24 months, I have conducted more than 60 interviews with senior executives from all sectors of mortgage banking for my top-rated podcast, Mortgage Manager Playbook. With careers in TPO, Retail and Consumer Direct and an average 25 years in the industry, these individuals have done everything from launch phenomenally successful start-ups
The Top 5 Hiring Mistakes in Mortgage Banking Read More »
Jamie Dimon, Chairman and CEO of JPMorgan Chase Bank and respected banking industry guru recently said in an interview that bankers lack imagination when it comes to envisioning what their customers need. He noted that Fintech companies in particular, “are making great strides in building both digital and physical banking products and services. From loans
Are You Hiring Radical Change Agents? Read More »
In mortgage origination, declining interest rates can result in overwhelming volume, as the industry experienced in 2020. While companies and producers alike racked up record profitability last year, a robust refinance market can distract lenders from focusing on critical long-term success strategies. When business is humming along, it is easy to become complacent and
Lenders: Are You Focused on What Matters Most? Read More »
In my 25+ years in mortgage banking, one thing that has remained constant is that most lenders recruit sales professionals who are experienced in mortgage origination instead of hiring rookies. These companies hire experienced “C” players rather than potential “A” producers who need to be trained and developed. There are two main beliefs that
Are You Evaluating Sales Candidates for Willingness to Learn? Read More »
Last week, the MBA reported that 2020 has been the best year in the industry since 2003 and that the volume generated to date is already $1 trillion more than in 2019. One of the few positive spots in the economy has been the housing market where there are not enough real estate sellers and
$3 Trillion in Mortgage Volume and its Unintended Consequences Read More »
