Pricing, Efficiency, and Operations Products; California DRE Changes

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Posted To: Pipeline Press

“Your loan officer should be given the opportunity to succeed elsewhere.” Ever heard a CEO recommend that to a branch manager regarding a poorly performing LO? Here in San Francisco, at the Western Secondary Conference, the talk is focused on secondary marketing and Fannie’s lower estimate of 2018’s volumes ($1.69 trillion). But LO performance and compensation creep into the conversation any time you have owners and CEOs in one room. Recently I wrote , “No one wants to be ‘the first penguin in the water’ when it comes to making LO compensation changes. But done the right way, these changes can have a very positive impact on an independent’s bottom line and chances of survival.” Lenders are heading toward taking LO comp monies and putting…(read more)

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