In my consulting practice, many mortgage executives who I speak with are very concerned about the rising cost to originate a loan in today’s marketplace. According to the MBA, the cost to originate has mushroomed to $8,500 per loan. Making a profit is difficult when originators are being paid large sign-up bonuses and […]
The Mortgage Industry\’s Madness Strategy Read More »
Last week I spoke at a conference where the agenda was dominated by technology presentations. This is fairly typical of many industry events. My topic regarding sales personnel and the future sales organization was the next to last session. After my presentation, one attendee lamented, “I don’t know why there is such emphasis on
Fixing Mortgage Bizarro World! Read More »
Last week, a National Mortgage News article discussed the results of Fannie Mae’s Q1 2018 Mortgage Lender Sentiment Survey which measures lender’s profit-margin outlook. According to NMN, mortgage lenders had the highest level of pessimism recorded since 2014. This is not surprising given the current challenges our industry faces: the decline of the refinance market,
The Four Pillars of Mortgage Sales Success Read More »
While watching the annual Macy’s Day Parade, a yearly tradition for many families including mine, I thought about a recent New York Times article that noted Macy’s real estate ($16 billion) is worth more than the company’s market value ($6 billion). It is no secret that Macy’s has been battered by e-commerce competition. Its sales have
The Signs of a Troubled Lender: When to Make a Change Read More »
