Posted To: Pipeline Press

Originators and lenders are having a great summer from income and profitability perspectives. The thick margins are making managers look like champs, arguably covering up other issues that would normally be corrected. Rocket, the parent company of largest US mortgage provider, trimmed the amount of stock it is selling from $3.3 billion to $2 billion this morning, which is different than good companies continuing to trim waste and rewarding departments and employees who are focused on that, either financially or with fun. (I know of one successful lender in Michigan who has “Blossom the Unipig,” a mascot that is earned by various departments based on cost efficiency and therefore profitability actions.) One company that knows a thing or two about profitability is Apple Computer,…(read more)

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Source: Mortgage News Daily