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Nine Arrested, Indicted in Alleged $6M Mortgage Scam

Nine Arrested, Indicted in Alleged $6M Mortgage Scam

Friday, 04 December 2020
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California state authorities have announced the arrests and indictments of nine people in an alleged mortgage scheme that led to a loss of about $6 million. So reports KTXL in Sacramento. Read more...
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Manafort’s Mortgage Fraud Dismissal Appealed to N.Y. High Court

Manafort’s Mortgage Fraud Dismissal Appealed to N.Y. High Court

Friday, 04 December 2020
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Mortgage fraud charges against President Trump’s former campaign chairman Paul Manafort are rearing their head once again. So reports NBC News. Read more...
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Who Makes the Best Mentor?

Who Makes the Best Mentor?

Thursday, 10 December 2020
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Mentoring is a time intensive activity. So much so that this is sometimes the main reason a vast majority of managers have refused to bring in novice loan officers in the past. Or, if they do, the loans officer does not get the direction they need. Sales managers are highly qualified as mentors because of… Read more...
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Are You Evaluating Sales Candidates for Willingness to Learn?

Are You Evaluating Sales Candidates for Willingness to Learn?

Wednesday, 09 December 2020
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In my more than 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. Read more...
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How Customer-Centric Is Your Sales Organization?

How Customer-Centric Is Your Sales Organization?

Thursday, 03 December 2020
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Many mortgage managers consider their companies to be originator-centric. These senior executives believe that sales employees drive success and they feel that their lender’s originator support is a competitive advantage. I certainly understand this viewpoint, especially in such a difficult recruiting environment. However, I would argue that focusing entirely on the originator experience can lead… Read more...
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Ask the Expert: Are You Delivering Value?

Ask the Expert: Are You Delivering Value?

Wednesday, 02 December 2020
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In my last column I noted how several loan officers have written me asking about why many weren't prepared for the pandemic or the subsequent impact on our industry. Here are some additional thoughts on that question. Read more...
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Better.com CEO Battles Claims of Fraud, Harsh Workplace

Better.com CEO Battles Claims of Fraud, Harsh Workplace

Wednesday, 25 November 2020
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Mortgage-origination startup Better.com’s CEO, Vishal Garg, is fighting multiple lawsuits that accuse him of fraud and mismanagement. So reports Forbes.com. Read more...
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Freddie Mac to Use Fintech 'Zest AI' to Assess Default Risk

Freddie Mac to Use Fintech 'Zest AI' to Assess Default Risk

Wednesday, 25 November 2020
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Fintech company Zest AI has announced that it is partnering with Freddie Mac. So reports Forbes.com. Read more...
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Broker Gets Five Years in Prison for $32M Mortgage Fraud

Broker Gets Five Years in Prison for $32M Mortgage Fraud

Wednesday, 25 November 2020
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A Boulder, Colo., mortgage broker has received a federal prison sentence of five years for orchestrating a scam that ripped off a bank to the tune of almost $32 million in bogus residential mortgage loans. So reports CBS Denver. Read more...
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Ask The Expert: Why Can't We Get Better Predictions? 

Ask The Expert: Why Can't We Get Better Predictions? 

Thursday, 19 November 2020
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Several loan officers have written me and asked a question like this: I understand why no one could have predicted the pandemic. However, it seems to me that we should have geared up for lower rates as soon as it happened. Why did it seem like these record low rates and the increase in business… Read more...
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