Loan Think

It happens nearly every day in retail mortgage sales operations—a loan officer, underwriter, processor, closer and/or assistant gets what they feel is "the phone call from the customer from hell."

There are basically three processes involved in successful selling. First, the sales person needs to find someone interested in their product or service. Once that’s done, the sales person needs to convince the prospect that he/she should be the one to accomplish their needs.

A final rule sets deadlines for both the recommended decision of the hearing officer and the final decision of the director in adjudicative proceedings before the CFPB.

Lenders should be careful not to read the headlines and believe that the outside sales exemption is the long awaited solution to the problems caused by overtime regulations.

Social media are not the be all/end all when it comes to marketing.

Because IT requires a truly specialization of skills and experience, lenders and servicers should partner with experienced vendors.

Does the constant grind of impressing Wall Street investors hurt the ability of publicly traded companies like Ellie Mae to provide mortgage lenders with the best technology and customer service? According to Mortgage Cadence Chairman and CEO Michael Detwiler, it doesn’t help.

To correspondent mortgage sellers and loan brokers, the ‘coincidental’ move by certain megabanks to only refinance FHA Streamlines that they are already servicing is a way to lock them out of the business.

Remember Jimmy McMillan, the New York gubernatorial candidate for the “Rent is Too Damn High Party”?

When I suggested yesterday that mortgage lenders might contemplate an origination ‘strike’ as a bargaining tool to kill overly zealous regulations the idea was to have banks and nonbanks alike participate in such an action of civil disobedience.