When faced with reduced loan volume, there are a number of business strategies lenders can take to navigate the tougher times ahead. But, rarely do I see management teams deciding to manage better and hold employees accountable for their performance. Many managers believe this strategy takes too long to execute and worry that it might […]
Are You Holding Your LOs Accountable for their Sales Results? Read More »
In my sales consulting practice, I have conversations with senior managers every day about sales professionals who are not generating enough volume. At some point during our discussion, executives will often comment, “I don’t have time or the money to train them.” Without an investment of time, money and training, it is highly unlikely
Three Questions to Ask Before Investing in Sales Training Read More »
Since 1999, I have analyzed top originators’ practices and personality traits — that’s 22 years and counting! I have conducted numerous validation studies in collaboration with psychologists to pinpoint the innate competencies that drive individuals to succeed in mortgage sales. The simple reality is that mortgage origination is a hard business and not everyone
How Well Are Your Originators Managing Their Most Important Asset? Read More »
According to the MBA industry forecast for 2020, refinance volume is projected to drop by 24% from last year. The MBA predicts that refinance volume will decline even further in 2021 and 2022 with a decrease of up to 29% from 2019. These numbers are eye-opening and should serve as a wake-up call for sales
What will YOU Do if Refinance Lending Falls by 24%? Read More »
Recent numbers from the MBA and Stratmor show that the average production per originator has fallen dramatically from the refinance era to a new low of 2.5 units a month. Bank originators have a slightly higher average primarily because they receive leads from the company. These numbers are a wake-up call to lenders that improvements
Wake-Up Call: Why are Retail Originators at 2.5 units per month? Read More »
Every manager knows the truism that “what gets measured gets managed.” In the past, analyzing performance metrics with any accuracy was difficult at best. To determine whether an originator was good or not, managers have traditionally relied on month-end loan volume as an indicator. Today, with CRMs and other sales technologies, senior management can
Leading Indicators Provide Real-time Feedback for Success Read More »
Right now, sales organizations are heading into the final stretch to make year-end goals. While time is moving fast, it is not too late to look at what might be holding your sales team back from optimum performance. When conducting sales improvement audits, I see three primary reasons why a group is underperforming: Lack of
Three Causes of Weak Sales Performance Read More »
This past weekend, many of the Olympic trials were held to determine who will represent the United States in the Summer Olympic Games in Rio. I am always enthralled by the personal stories of the athletes and how so many persevered through difficult circumstances and succeeded. While only a few individuals can make the team—the
How to Perform When the Stakes Are High Read More »
