How high is loan originator turnover — and what’s behind it? LO turnover is both common and costly. Managing it effectively is essential to an organization’s success. In part 1 of a 2-part blog series, we reveal the true cost LO turnover has on your business.
It doesn’t matter if you provide better experiences; some borrowers only see the difference in the numbers. When concessions need to be made, does your team have accurate numbers to make informed decisions? This blog post explains how you can tighten up your rate and fee concession process with accurate compensation numbers.
The competition for top loan originator talent is fiercer than ever, and often compensation is a lender’s best bargaining chip. This blog post explains the differences between retroactive and non-retroactive comp plans to help lenders who are considering turning to retroactive comp plans as a sustainable way to stand out from the crowd in the talent race.
With margins as tight as they are in the current market, lenders must leave no stone unturned when it comes to managing costs. To solve this conundrum, we provide suggestions lenders can adopt to help shape a shared marketing expense strategy.
LBA Ware Founder & CEO Lori Brewer shares LO Comp strategies for low-margin mortgage loans.
Seasonality is nothing new to the mortgage lending and housing industries. This year, though, seems reminiscent of years past and change is all around us. Mergers, asset acquisitions, layoffs, and talks of LO Comp restructuring are topics on the monikers at recent industry events. One topic we’ve been closely following is the proposed changes to the LO Comp rule recently submitted to Consumer Financial Protection Bureau Acting Director Mick Mulvaney. In this blog post, LBA Read More
LBA Ware founder & CEO Lori Brewer is schedule to moderate a panel at the 2018 Mortgage Bankers Association Annual Convention and Expo. The panel will cover data-driven best practices mortgage lenders can implement to recruit and retain top performers.
Ever wonder what type of performance fluctuations exist amongst your LOs? We did. In this blog post, we reveal some of the trends we discovered when we studied the performance of 5,500 LOs over a 30-month period.
LBA Ware CEO & Founder Lori Brewer will be speaking on the panel, “What Incentivizes Mortgage Company Employees Besides Compensation?” Monday, Sept. 11 at 1:30 pm at the 2018 Mortgage Bankers Association’s Human Resources Symposium.
According to Fannie Mae’s Q1 2018 Mortgage Lender Sentiment Survey, lenders once again reported a negative profit margin outlook. The instinctive response to narrowing profit margins is to start simply cutting costs, but we recommend considering a slightly more counterintuitive approach – incentivize.