For lenders that want to attract and retain younger LOs, investing in training and career development will be essential. Why it matters: By 2030, members of the Baby Boomer generation will be at least 65 years old. This means many older, more experienced sales professionals will be exiting the workplace and taking their selling […]
The Winning Strategy for Hiring and Retaining Younger LOs Read More »
If your sales force isn’t tapping into a more multicultural market, you and your lender could be leaving millions in new business on the table. Why it matters: The buying power of African American, Asian American and Native American consumers, has increased exponentially to $3 trillion in 2020. Source: University of Georgia’s Selig Center
The Smartest Move Lenders Can Make in 2023 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 »
There is no hotter topic in business than the Great Resignation — a term coined by economists for the mass exodus of employees from their jobs that began in 2021. The disruption caused by the global pandemic enabled many employees to rethink their careers, work/life balance, long-term goals and working conditions. The result? A
How to Resolve the Talent Acquisition and Retention Crisis 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 »
Last week’s Ryder Cup golf tournament was exciting to watch and certainly a terrific win for the U.S. While team captain Steve Stricker has played on losing teams in his own career, he knew things had to change if the U.S. team was going to turn it around this year. So, how did Stricker build
What a Ryder Cup Captain Can Teach Mortgage Bankers 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 »
The recent deep freeze and power grid failure in Texas has raised questions about why state government did nothing to plan for the inevitable, even after receiving years of warnings and experiencing a similar cold snap in 2011. While there are differing opinions on exactly why the Lone Star state failed to take precautions, it
The Two Biggest Issues for Mortgage Bankers in 2021 Read More »
Last week, PricewaterhouseCoopers (PwC) announced its first-ever Diversity & Inclusion Transparency Report. According to a recent Fortune article, “women and racially diverse talent now account for 65% of [PwC] entry-level hires, 7% of whom identify as Black, 12% as Latinx.” Shannon Schuyler, PwC Chief Purpose and Inclusion Officer, said the company’s goal is to
Why Large Mortgage Firms Need to Issue Annual Diversity & Inclusion Reports Read More »
In my experience, mortgage lenders fall into two categories when it comes to hiring originators. For one group, hiring is all about enticing producers to join their company without setting any criteria beyond a W-2 and loan reports that show the individual can self-source loans. These lenders view the sales force as hired hands
The $1 Million Decision Read More »
