Recently, we adopted an accounting system that is tailored for the mortgage industry. The main features of this software are easy data entry, tailored reports, and an intuitive user interface. Our branch partners benefit from this software by default, and aside from reducing accounting costs at the branch, managers perform better thanks to the up-to-minute tailored reporting. For instance, right after an officer closes a loan, the manager can view the loan’s profitability, officer’s pay and related expenses, and he/she can make strategic decision based on this information. I have no doubt that technology can help us perform better, but I continue to come across industry peers who are stuck in self-sufficient ways that clearly contribute to their business lagging. They don’t realize they resemble a Neanderthal when they could be Bonds.
Right after we standardized the use of our accounting software, we observed that branch managers that were actively monitoring branch performance through the loan profitability, profitability by loan type, individual loan officer profitability, and branch profitability reports, were making superior decisions about how to steer their sales teams. Better yet, we noticed that these managers gained confidence, and showed more creativity and energy levels in loan generation activities. Aside from the reality check provided by these reports, we believe that part of the change in the branch leadership was motivated by the delegation of cumbersome and time consuming tasks to the program. Before the adoption of the software, these tasks demanded a lot of time from managers, but the need to stay on top of margins, profits and expenses, required them to prioritize these no matter what. Managers were bogged down as they tried to lead the mortgage branch to increase production.
Having observed this first hand, leads me to criticize industry peers who demand better performance from their sales teams but fail to provide them with technology that can help them identify and focus on what works. They do lip service to technology, software this, tablet that, but when the time to invest comes up, they rationalize their self-sufficient ways to save a few dollars. The costs of inefficiency are clear most of the time; low branch production, hard work but little rewards, etc. But what about the costs that elude hard working and compliant managers? what about the invisible consequences that weaken the most Herculean efforts to improve production?
Technology used wisely helps us perform better. We de-service our teams when we fail to embrace tools that help us save time and gain objectivity; we must standardize the user of technology into our routines. Peace of mind, confidence, energy and enthusiastic teams forecast higher production; on the other hand, distracted managers, who are not here nor there, are good predictors of under performing teams. What type of branch do you want to be in?
The benefits offered by the mortgage branch opportunities out there will strongly influence what type of branch you evolve into.
A NEANDERTHAL walks into a bar and says... well, not a lot1... lol
As a mortgage branch service company, we identify effective ways to help our partners perform better. Our branch partners benefit from bundled management solutions that help them spend more time generating loans and less time fretting about the numbers. Our branch members benefit from AMB, an accounting software tailored for the mortgage industry.
As the Mortgage Branch Leader we want to partner with seasoned mortgage professionals who want to open a mortgage branch. Out mortgage branch opportunities are a better alternative to the net branch opportunities out there. As a branch partner, and contrary to a mortgage net branch, working with a direct agent, full eagle lender, you’ll get competitive pricing, full product portfolio, and other benefits. Best of all, we are team oriented company that recognizes that your success is a requirement for the sustainability of our business. Please visit our website to learn more