Douglas Smith

Everybody’s origination business should get a checkup.

The top originators believe they are the owners of their occupation and they act accordingly.

Approach your task of originating mortgage loans much the same way as an athlete approaches his or hers.

You must follow through to achieve your goals.

It is time to create training programs to attract newcomers to the business.

Sales people need to get over the fear of a negative reaction to their sales pitch by the recipient.

Originators should be developing plans to benefit from the shift back to a purchase market.

Now is the moment to take those bold steps to improve your mortgage origination business so it is strong going forward.

Increased volumes have pressed many people and their loan production platforms to a breaking point.

Buyers of non-owner occupied properties need financing too.

Proactive mortgage originators look to build sales; reactive ones do refis.

American icon Dick Clark died recently at the age of 82. He is best known for hosting the television show “American Bandstand” as far back as the 1950s to three decades at the helm of “Dick Clark’s New Year’s Rockin’ Eve” all the way up to this past Dec. 31. But what many people don’t know is that Clark also created and hosted several TV game shows and owned a chain of restaurants.

When I first landed in the business of mortgage loan origination back in 1983, the first milestone I was told to shoot for was $12 million a year. Originators who produced a million dollars in total closed loans each month were said to have “arrived.” Once there, the second level of success to set your sights on was $25 million a year. People who consistently produced over $2 million a month were said to have “achieved.” Finally, the peak performance group to belong to was the $50-million-plus club. Those stellar, superstar originators “amazed” everyone with the volume of loans they closed and the money they made.

Just over 2,300 years ago, a wise father hired the greatest scholar of his age to tutor his young son in the ways of the world. Aristotle spent the next few years instructing the young man in literature, architecture, music, politics and the art of warfare. Armed with this knowledge, the student, barely in his 20s, set out to conquer the world. It took him just 11 years.

The National Association of Realtors reports that sales prices are continuing to fall, from an average of nearly $200,000 five years ago to around $172,000 today. A decline in average sales prices translates into a decline in average loan amounts - and since most mortgage loan originators are paid a basis points commission on the loan amount - that means less money for you.