According to self-made millionaire Steve Adcock, 90% of success depends on one single skill that he says young people are terrible at – interviewing. Adcock, a former software developer who retired at age 35, recently shared 5 tips to get it right. Here are his tips for interviewing success: Dress the part for the […]
CNBC: 90% of Success Depends on this Single Skill 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 my recent conversations, mortgage executives have repeatedly lamented that their top producers are holding them hostage over resources, money and pricing. Especially troubling is that these high-performance sales professionals invariably tend to jump ship after the lender has conceded to their demands. In most cases, lenders have not even broken even before top producers
Overdependent on Top Producers to Hit Volume Goals? 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 »
During a recent industry webinar, a discussion about reducing time to close a loan boiled down to a single question: What would it take to have a 3-day close? One attendee asked, “Can mortgage bankers even conceptualize a 3-day close?” The event speaker weighed in, adding, “some practices are so ingrained in mortgage banking that
Are Your Sales Leaders Unable to Envision Change? 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 »
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, 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 »
Stratmor recently reported that 84% of the purchase money volume originated last year was generated by producers with less than five years in the mortgage business. When I shared this fact with senior executives, the majority were surprised; only a handful of managers noticed a similar trend at their companies. This raises the question,
Our Mortgage Sales Superstars Are Not Who You Think They Are! Read More »
While sales results have not been stellar this year, many mortgage banking managers believe that if their originators would just work harder, production would turn around. Unfortunately, working harder won’t make an appreciable difference amid our dramatically changing marketplace. What will? Succeeding in today’s difficult sales environment requires working smarter and adopting new selling
Working Hard is Overhyped! Read More »
