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$3T in Mortgage Volume and Its Unintended Consequences

$3T in Mortgage Volume and Its Unintended Consequences

Thursday, 08 October 2020
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Recently, the MBA reported that 2020 has been the best year in the industry since 2003 and that the volume generated to date is already $1 trillion more than in 2019. One of the few positive spots in the economy has been the housing market where there are not enough real estate sellers and affordable… Read more...
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The Flaws of 100% Commission Pay Plans

The Flaws of 100% Commission Pay Plans

Wednesday, 21 October 2020
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The 100% commission pay structure has long been considered the gold standard in mortgage lending as the best way to motivate originators to generate more volume. Implicit in a 100% commission pay structure is that a large reward is available for sales professionals who do well. Read more...
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4 Keys to Working Smarter

4 Keys to Working Smarter

Wednesday, 14 October 2020
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I recently spoke to a leading sales group in mortgage banking on what it will take for lenders and originators to succeed in 2025. I realize that it is hard to focus on the future when the present is so hectic in mortgage origination. However, 2025 is only 1,500 days from now. Read more...
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Mortgage Startup Better.com Could Be Worth $4B

Mortgage Startup Better.com Could Be Worth $4B

Friday, 25 September 2020
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Online mortgage loan startup Better.com has seen its fortunes rise as Americans have refinanced to take advantage of low interest rates. So reports The Information. Read more...
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12 Mortgage, Real Estate Pros Charged in Multi-Year Fraud Scheme

12 Mortgage, Real Estate Pros Charged in Multi-Year Fraud Scheme

Friday, 25 September 2020
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A dozen people, among them mortgage and real estate professionals, face charges after federal prosecutors say they defrauded Fannie Mae and Freddie Mac in a four-year scheme resulting in the approval of more than 100 mortgages. So reports the Atlanta Journal-Constitution. Read more...
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Jewels, Rolex Watches Seized from Fugitive in Mortgage Scam

Jewels, Rolex Watches Seized from Fugitive in Mortgage Scam

Tuesday, 29 September 2020
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British authorities have seized diamond-encrusted Rolex watches, flashy necklaces, and gold and silver from the safe deposit box of a fugitive wanted for his alleged role in a £50 million ($64 million) mortgage scam. So reports Reuters. Read more...
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Does Your Sales Strategy Align with How Consumers Want to Buy?

Does Your Sales Strategy Align with How Consumers Want to Buy?

Thursday, 01 October 2020
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Since the COVID-19 outbreak, the normal way of doing things is being redefined on a daily basis. Many financial experts consider this global pandemic to be a “black swan” event. Read more...
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When Training and Coaching, Conflicts Will Arise

When Training and Coaching, Conflicts Will Arise

Wednesday, 30 September 2020
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Training and coaching often leads to inevitable conflicts. Some will be minor, such as disagreements regarding goals and responsibilities and some will be major, such as disciplinary actions. Regardless of the level or cause of conflict, a manager must be prepared to deal with the issues raised. Read more...
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Ask The Expert: Why is the Cost of Jumbo Financing So High?

Ask The Expert: Why is the Cost of Jumbo Financing So High?

Wednesday, 23 September 2020
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Several loan officers have inquired: Why is the cost of jumbo financing so high at this time? For the past few years, it has been the same as conforming pricing and sometimes even lower than conforming. Now it is much higher--if you can find it at all. Why has this market changed so much? Read more...
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SEC Drops Charges in Massive Mortgage Fraud Case

SEC Drops Charges in Massive Mortgage Fraud Case

Friday, 18 September 2020
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The SEC has agreed to settle its civil case against upstate New York developer Robert C. Morgan without seeking a fine. So reports Buffalo News. Read more...
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