Are mortgage bankers so diabolical that they attempt to find a way around new regulations? Industry consultant Joe Garrett of Garrett, McAuley & Co. thinks so.
Paul Rozo, who runs PRMG, told us that he is not a big fan of call centers and that every LO in his organization is a hunter, a sales person who relies on referral business and/or handling their own marketing."
The mortgage slowdown will separate the men from the boys, the girls from the ladies. It's time to fire all underperforming loan officers, says mortgage consultant David Lykken.
How many loans per month should a loan officer be closing when times are lean? According to Dave Lykken of Mortgage Banking Solutions, if an LO isnt closing at least six loans per month, they might want to consider employment elsewhere.