Stratmor recently reported that 84% of the purchase money volume originated last year was generated by producers with less than five years in the mortgage business. When I shared this fact with senior executives, the majority were surprised. Only a handful of managers noticed a similar trend at their companies. This raises the question, if newer originators are outperforming their more experienced colleagues, why aren’t lenders recruiting and training younger sales candidates?

One objective of one-on-one coaching must be setting goals with our loan officers. It is imperative to spend the time to help our sales personnel set goals for their business plans. If there is no agreement as far as the goals, there will not be a basis for performance reviews in the future.

Before the Covid-19 virus swept through the country, industries were already facing unprecedented challenges from technological innovation to dramatic shifts in consumer buying behavior. But amid this global pandemic, selling has never been more difficult.

Every day, we are witnessing changes that many predicted would be coming to the mortgage landscape, but now they have arrived. From online loan processing to video conferencing, our industry is undergoing a fundamental shift.