Providing a better customer experience is at the heart of long-term success in mortgage banking. While this seems like a no-brainer for lenders and LOs, how to actually deliver on this promise is not always easy or clear. Why it matters: • Creating an excellent borrower experience throughout the home loan process is essential to […]
How to Deliver a Referral-Worthy Customer Experience Read More »
In a recent investor presentation by Better.com, the digital-first homeownership company deemed the mortgage industry “broken” as “consumers deal with repetitive data requests, high fees and lack of certainty.” If customer satisfaction surveys regarding the home loan process are any indication, Better.com’s assessment is accurate. Better.com’s technology-driven platform offers a glimpse of mortgage lending’s future.
Has One-Stop Shopping Arrived in Mortgage Banking? Read More »
Last week, a mortgage executive exclaimed, “It’s a dog fight in mortgage origination!” as he described the current lending environment. Indeed, fierce competition, crazy pricing and non-existent housing inventory have created additional challenges in an already volatile marketplace. To compound these issues, Zillow recently noted that almost 50% of sellers are receiving contracts for
Three Solutions to Win: “It’s a Dog Fight in Mortgage Origination.” Read More »
In the last few weeks, nearly every conversation I’ve had with senior mortgage executives has centered on one of two issues: finding sales and processor talent; and delivering an excellent customer experience throughout the loan process. To be sure, getting the human capital side of the mortgage business right when volume is through the
Lenders’ Biggest Dilemma: Invest in Training or Be Replaced Read More »
Since the COVID-19 outbreak, the normal way of doing things is being redefined on a daily basis. Many financial experts consider this global pandemic to be a “black swan” event. From Nassim Taleb’s \”black swan” theory, the term refers to rare, unexpected events of large magnitude with potentially severe consequences. While predicting the future
Does Your Sales Strategy Align with How Consumers Want to Buy? Read More »
Last week, I discussed highlights from Quicken’s IPO and how the company has achieved record growth by having a defined sales process; and training and developing employees. While these are certainly not new concepts, they are rarely practiced at mortgage banking firms. While a number of lenders claim to provide employees with a structured
How to Conduct Training According to Quicken Read More »
Last Tuesday, the Quicken IPO was finally filed after countless rumors that it would happen. Based on my recent conversations with sales leaders, there is no question that Quicken’s S-1 was read closely by mortgage executives across the board. Much of the material from ISMs was well known in the industry, but some statements were
Two Essential Keys to Quicken’s Success Read More »
There is never a perfect time to make changes to your sales process. In the current marketplace, where volume is overwhelming and many lenders are turning away business, it may seem counterintuitive to discuss what it will take to succeed in a 2021 purchase money environment. Nothing could be further from the truth. According to
It is Never the Right Time . . . Read More »
