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 their production experience, but they typically do not have the time because they are producing, recruiting, and coaching.

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 an organization in the wrong direction.

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.

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.