I often hear from managers asking about training their underperforming originators. With the marketplace shift to purchase money, leadership teams have put underperformers on their radar as they try to address lower volume. When the market was hot last year, underperformers were there but overlooked because refi volume was off-the-charts. Now, with a less […]
When Does a Training Investment Make Sense? Read More »
During a recent conversation, a manager discussed how his company was handling an underperforming originator. The lender’s solution was to take away the individual’s draw and benefits but compensate the salesperson for any loans brought in. The manager felt that this approach was a great way to reduce the lender’s costs and address the problem
The Invisible Killer of Mortgage Sales Groups Read More »
In my consulting practice, I often hear managers complain about originators who are not calling leads when they are assigned to them. The interesting thing is that the amount of leads is not the problem for sales organizations, but the failure to work and close the leads that are available. As I’ve discussed in previous
The Number One Question Underperformers Must Ask Themselves Read More »
Last week I spoke at a conference where the agenda was dominated by technology presentations. This is fairly typical of many industry events. My topic regarding sales personnel and the future sales organization was the next to last session. After my presentation, one attendee lamented, “I don’t know why there is such emphasis on
Fixing Mortgage Bizarro World! Read More »
One of my colleagues recently observed that mortgage bankers are facing difficult decisions regarding the fundamentals of their business. Caught between a rock and a hard place, these firms are trying to implement critical fixes while generating volume and revenues to fund the necessary changes — not an easy task! According to my colleague, the
Why Mortgage Banking Should Be \”Open While Renovating\” Read More »
One of my colleagues recently observed that mortgage bankers are facing difficult decisions regarding the fundamentals of their business. Caught between a rock and a hard place, these firms are trying to implement critical fixes while generating volume and revenues to fund the necessary changes — not an easy task! According to my colleague, the
Why Mortgage Banking Should Be \”Open While Renovating\” Read More »
Last week, a National Mortgage News article discussed the results of Fannie Mae’s Q1 2018 Mortgage Lender Sentiment Survey which measures lender’s profit-margin outlook. According to NMN, mortgage lenders had the highest level of pessimism recorded since 2014. This is not surprising given the current challenges our industry faces: the decline of the refinance market,
The Four Pillars of Mortgage Sales Success Read More »
Anyone who has ever managed in mortgage banking has had a discussion with their supervisor regarding employees who are not working out as planned. The conversation usually goes something like “If we invest more time and money into this underperforming salesperson, he or she will turnaround and improve.” The problem with this approach is that
When Managers Make Poor People Decisions Because of the Sunk Costs Fallacy Read More »
For managers, there is no challenge more frustrating than working with originators who have sales talent but are inconsistent producers. In my consulting practice, I often hear senior managers share their personal torment regarding these individuals. Managers feel these producers could be great and have been known to spend countless hours attempting to develop their
How to Manage Inconsistent Originators Read More »
