First impressions matter. Think about the first time you met someone—whether it's a friend or family member or someone you work with. What did you think of them at the time? Now, trace that relationship forward to where it is today? Can you see how your first impression of that person influenced your perception of them over time? Intuitively, this is what we do: we use our first impressions as foundations upon which we build subsequent interactions. It's really hard for us to get away from doing it.
You may have noticed that News From NAMB is not just links to other media stories but also goes to primary sources. News From NAMB is different because we find important information that may not be reported elsewhere and we comment on why it is relevant to you, often in a fun way. Best of all, it is free to NAMB members. News From NAMB is sponsored exclusively by United Wholesale Mortgage.
In many different industries, there are certain job positions that high higher rates of turnover than average. Typically, when we think of such positions, we may think of hourly, minimum wage jobs such as food service or front line retail work. However, there certainly are more "professional" level positions that have high rates of turnover. In many fields, salespeople tend to come and go rather frequently. In the mortgage industry, we have that problem with our own salespeople: loan originators.
I am often perplexed as to why there is such a high level of turnover among loan originators. I believe that the mortgage industry can be a rewarding place to work—why do so many give up on it? Well, there could be a large number of reasons.
I'm a huge fan of hiring for cultural fit. I think that, for an organization to succeed, we don't only need highly qualified people on the team; we also need highly cooperative people on the team. Business is a team sport and, like any team support, it usually takes the whole the team working together to pull off a victory. I sometimes think job-specific skills are overvalued and cultural fit undervalued when it comes to recruiting. We tend to seek the best people for the job, though not necessarily the best people for the company.
You may have noticed that News From NAMB is not just links to other media stories but also goes to primary sources. News From NAMB is different because we find important information that may not be reported elsewhere and we comment on why it is relevant to you, often in a fun way. Best of all, it is free to NAMB members.News From NAMB is sponsored exclusively by United Wholesale Mortgage.
Let's do a thought exercise. Think back on your entire day (or yesterday, if you're reading this in the morning). Think about everything you accomplished, every task you completed on the job and every project you finished. Now, think about how many of those tasks and projects would have been possible without help from other people. How many of those people did you actually thank for their contributions.
As a leader in your organization, you likely have a lot of support for getting your work done. Every day, there are countless opportunities to express your gratitude for the help you receive. Are you taking advantage of those opportunities? It doesn't matter if the person who helps you is "just doing their job." People like to feel appreciated for the work that they do; if you want them to keep doing it, you've got to show your appreciation.
Interviews can be stressful—not just for the person being interviewed, but also for the person conducting the interviewing. As a leader in the mortgage industry, you've probably done your share of interviews. It can be difficult to make sure you're asking the right questions that are going to give you a genuine idea of the candidate's potential. How do you know you're really getting an honest assessment? People always behave their best during interviews—how do you know whether or not that behavior will continue once they're hired?
“First thing we do, let’s kill all the regulators!”
Actually, Shakespeare's exact line is, ''The first thing we do, let's kill all the lawyers.''
This famous exhortation was stated by Dick the Butcher in Henry VI. Dick the Butcher was a follower of the rebel Jack Cade, who thought that if he disturbed law and order, he could become the king. So, carrying out the inference, Shakespeare was suggesting that if the rebels kill all the lawyers, law and order would be destroyed and he, Jack Cade, could become king. This incitement was not a denigration of lawyers, but a veiled homage to them!
How important is measuring activity in the workplace to your organization? Personally, I'm a big believer in the power of data to make decisions. If you monitor how you're spending your time and what tasks you are doing, you will be able to measure that against your results to see just how productive you are being as a team. What's not to love about measurement?
On the other hand, measuring your work can be costly. It takes extra time to keep track of what you're doing, and there are expenses from any additional software required to monitor that activity. What if you spend all of this time and money measuring your activity only to find out that you were just as productive as you were before you started measuring your work?
You may have noticed that News From NAMB is not just links to other media stories but also goes to primary sources. News From NAMB is different because we find important information that may not be reported elsewhere and we comment on why it is relevant to you, often in a fun way. Best of all, it is free to NAMB members. News From NAMB is sponsored exclusively by United Wholesale Mortgage (UWM).