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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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What Mortgage Originators Can Learn From Chess

What Mortgage Originators Can Learn From Chess

Wednesday, 18 November 2020
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In my training classes for originators, I often compare selling to sports to help students understand key concepts. The analogy works because students can easily relate to the similarities—the competition, the emotional highs and lows, and the identification of clear winners and losers at the end of a game. While all of this is true,… Read more...
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James B. Nutter & Co. Faces DOJ Fraud Lawsuit

James B. Nutter & Co. Faces DOJ Fraud Lawsuit

Friday, 13 November 2020
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The Department of Justice has hit James B. Nutter & Co. with a civil lawsuit claiming improprieties in the Kansas City home lender’s reverse mortgage business. So reports the Kansas City Star. Read more...
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Better.com Eyes IPO Worth More Than $4B

Better.com Eyes IPO Worth More Than $4B

Friday, 13 November 2020
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Better.com is working with Morgan Stanley and Bank of America on plans for an initial public offering that could happen as early as January, according to sources familiar with the situation. So reports Bloomberg. Read more...
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