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 »
Before the Covid-19 virus swept through the country, industries were already facing unprecedented challenges from technological innovation to dramatic shifts in consumer buying behavior. But amid this global pandemic, selling has never been more difficult. Mortgage managers, originators, and home loan prospects alike are operating in an environment of extreme uncertainty about what the
What Every Manager Should Be Asking Employees During the Pandemic Read More »
Every day, we are witnessing changes that many predicted would be coming to the mortgage landscape, but now they have arrived. From online loan processing to video conferencing, our industry is undergoing a fundamental shift. While it is hard to concentrate on the future when the present is so robust with refinance volume, mortgage
Good Managers and the Remote Working World Read More »
It seems like every day I receive emails from lenders that want to hire producing branch managers. The job descriptions are usually similar and require the branch manager to be responsible for P&L, lead management and on-time closings; working with processing and underwriting; recruiting and retaining branch sales and support staff; and generating their own
What Lenders Need Now Are Great Managers! Read More »
During my recent MBA webinar series on recruiting, hiring and onboarding, I polled participants on these topics. Last week, I asked students “What percent of new hires leave the company or are terminated within 180 days of their hiring date?” The answer was shocking. Attendees estimated that 60% of their new hires don’t last
New Hire Turnover is Hurting Production Results Read More »
At the recent annual MBA conference in Boston, Stratmor shared statistics on a shocking mortgage banking trend: sales productivity has dropped from 10.0 closed loans per retail LO in 2003 to 4.8 closed loans per retail LO in 2015. This is a dramatic decrease that has continued for years. Many managers will point to increased
Poor Sales Productivity in the Era of Distraction Read More »
What percentage of your sales executives are good managers? The answer to this simple question can have a dramatic impact on a sales organization’s results. In my consulting practice, I ask senior managers this question and the answers I receive are surprising. While it would be reasonable to expect that 50 to 60 % of
What Percentage of Your Sales Executives Are Good Managers? Read More »
