7 May 2007 - Madison, Wisconsin
A few years ago I was attached to a large mortgage lending corporation - a Top Ten. At one point in my tenure there corporate decided to expand their market presence and set lofty growth goals (for the benefit of stockholders). And so began a period of rapid hiring, recruiting and buyouts of established brokers, and the incredible financial expenditure that went with it. Of course they started with employee benefit reductions, expense account eliminations, and a weakly disguised ugly ugly pay cut. They were just warming up.
They cut discounts to their key markets and ruined the relationships with affiliates and core business in the process. Rates went up inversely as pay went down. Then they came up with a doozy.
Instead of promoting from within, this massive dinosaur decided to recruit all of their middle and lower field managers from the existing marketplace, thinking this would rob the competition of valuable assets. But when you consider the timing of this event - rising rates, an evaporating refinance market, and a slowed-down purchase market, they got more of the "expendables" than the "cream of the crop." The recruits weren't "field" types and they could NOT instantly understand an originating and underwriting system that took nearly a year to grasp. It was a mess - at least in our region.
It was during this time of "change" I received this Hallmark eCard from a knowing friend. Thank you! I have since kept the link on my toolbar as it is THE all-time favorite. It reminds me of some of the people who rapidly came into my life - and who ALL left eventually (voluntarily or not) - and the lives of my colleagues. For some reason Hallmark keeps the link active and I have to laugh aloud whenever I see it. I think they do it for me.
Enjoy this card and see if it strikes a cord. I'm certain many of you have seen it, but it's worth sharing with those of you who haven't. It has sound, so turn up the volume enough to listen in.
Hallmark presents Interview With an Honest Boss.
Art Blanchet
Bill Quigley
Your Home-Your Money.com
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