Posted To: Pipeline Press

Not only are origination staff asking for refreshed marketing efforts as volumes show a tinge of falling off, but how about this note that I received from a CEO of a large lender in the Northeast? “Rob, what are you hearing about signing bonuses out there? Is it just my staff that is receiving unsolicited emails, or everyone out there?” Hah! Join the crowd: signing and retention bonuses have again become rampant. Through the wonders of the internet, and what is self-reported to news outlets that I won’t mention, your LOs’ production numbers are fair game. If you think that a lender is going to make 100 basis points on each loan, it doesn’t take a math whiz to take production, multiply it by a point, and figure the net present value over the period of time that…(read more)

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Source: Mortgage News Daily