Bank Run Mortgage Lender – vs – Mortgage Bank Run Bank Lender – There IS a Difference

27 Jan

            In my 35+ years in the Banking and Mortgage industries and recruiting for 100+ of the largest national lenders for the past 16 years, I know the best lenders out there.

I have witnessed what happens to mortgage companies started within banks or acquired by banks and it is not pretty. A banker’s mindset is not in line with mortgage lending. I also have seen what happens when a Mortgage Bank acquires a Bank and the result is MUCH more advantageous for everyone. This $5 billion Mortgage Banker client of mine acquired an FDIC bank and this is somewhere people WANT to work to earn more with a broader portfolio, faster processing service, makes-sense underwriting and more income.

Consistently LO’s and Branch Managers are finding that they would have earned substantially more per month with this particular Mortgage client over the last year than they actually earned where they were.  Branch Managers find that with their production (if they want), over-rides and quarterly profit bonuses their income will increase after they make the move to this lender. 

 

            Losing momentum when making the change from one lender to another is always a major concern for LO’s and Branch Managers.  This client of mine has the solution for them.  This lender does all they can to make sure everyone who joins them earns more than they have before.

 

            Having been a $5 billion mortgage bank and recently acquiring an FDIC, Federally Chartered Bank, has positioned them to do even more for their LO’s and Branches.   Their broad based loan portfolio gives the LO more sources for loan referrals than having to rely solely on realtors, who are rarely loyal.

 

            Should we talk?  John Chandler … 602.482.0017 … johnc@chandlersearch.net

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: