Loan Think

Technology is an essential factor in the ongoing efforts to advance the efficiency and effectiveness of field service providers’ operations.

If there is any one thing the mortgage sales person should take away from what has happened in the last few years (and still what is happening in the loan modification segment), is that they must operate with ethics and integrity. The taint of a few taints everybody.

Your prospect won't close themselves; as a salesperson you need to be prepared to close the transaction at every available opportunity. This might sound like Selling 101 but you would be amazed at how many times a salesperson will meet with a prospect and never attempts to close the sale. I decided to write about this because of two situations I encountered that supports my theory.

With spring right around the corner, and signs of economic recovery everywhere, there is a feeling that brighter days are ahead. Glimmers of hope can even be seen in one of the most distressed U.S. housing markets in the country.

Here's a pop quiz for all jumbo MBS fans: what's the biggest stumbling block to the private label securities market taking off? Answer: the subordination levels on jumbo deals are about twice what they used to be, which means the credit pendulum has swung overly far to the conservative side.

Recently I attended the 2012 NMLS Annual Conference in Scottsdale, Ariz., and learned that there are still many challenges out in the licensing corner of mortgage lending. It was a great opportunity to meet with state and federal regulators, compliance professionals, licensing specialists, lawyers, and experts in the industry.

Everybody is familiar with the line from the movie "Jerry Maguire," the one that goes "Show me the money!"

Is there really much of a professional difference between loan officers who work for a bank versus a nonbank? I'm not picking sides, but recent comments to this column suggest that nonbank LOs feel they are better equipped to serve the consumer - and not necessarily because they have passed the state test.

At Interthinx we get to be both soothsayer and Monday morning quarterback understanding from review why portfolios fell during the bust, and applying that learning to the future. Thus, my advice to you is to make sure that best practices in your organization flow from front to back and that all areas have the necessary intelligence tools to adequately ensure quality.

Many people take the first few weeks of the year to review and revise their personal and business goals for the next twelve months. Here's an alternative method suggested by Chris Brogan for achieving your 2012 goals.