Brian's Blog

That is the mantra of any craftsmen.  The ironic part is that
many of the “craftsmen” of our industry don’t even measure once.  But even more ironic is that the measuring of our industry is done by the mega banks who measure the 4 levels of management who then measure the field because they justify their jobs, have to answer up  instead of assist down, and believe the field can’t be trusted. It is easier to manage the army through black and white statistics at 50,000 feet, than by rolling up your sleeves and delving into the numbers with the individual. So many have left the armies in order to be in the lesser managed atmosphere.  But the large majority of us can’t manage ourselves, and even the most disciplined that can, usually hire someone or use some tool to ensure they do. 

Without the pressure on them, those that were under the foot of management can become directionless, losing energy and purpose. Something has to fill that void and everybody is motivated differently. But certain constants are true  1) measurement is essential and 2) peer or coach views and comparisons keep you relevant.  As companies and leaders, consistently measuring for trends and outliers then sharing the data with all is a necessity.  Describing how and why you have set the standards for these measurements is also essential.  Not good enough should not be a position that anyone should be in for long; they should either self-select themselves out or you should put them in another career.

Resources are precious today. The only thing stopping more loans from closing is lack of resources. So why do we as an industry allow a minority to affect the service of the majority? All apps aren’t equal and need to be triaging at point of sale so those where the work is done move to the front of the line and those that are incomplete are stuck in customs with new expectations for all to be set. Those who do the job right, the LO and the customer, need to be rewarded;  But those who don’t, including the realtors who continue to push for unrealistic dates during high volume times need to be controlled in order to give the best service to all.

Bottom-line giving people what they want isn’t always what they need, so we as professionals have to stop people from hurting themselves.  Being willing to say no upfront and avoiding situations with high maintenance parties with unrealistic expectations are the keys to preserving your reputation and ensure high levels of service for all.  We see this on our surveys. There is always a story as to why the numbers “aren’t accurate” or “misrepresent “but every number holds an insight and should never be ignored. Even if you seemingly did everything right, the customer still wasn’t happy. There are lessons to learn as to how to reestablish expectations better, find clearer communications that maybe work for everyone else but not this customer. The burden is on us to be better. Even at our company that averages 98% customer sat!

Ask your peers or managers to hold you accountable. Ask them for a brutal no-holds barred view of your business. Write down what you intend to accomplish in measurable terms and vet them with others views.  Measuring your Pull Thru is #1, followed by days to close, days to first approval, # of borrower conditions, preapp to app pull thru, referrals per customer, fees/deposits collected,  margins, etc

Don’t wait to be some ones else’s measurement; keep your own standard and ask others to keep you honest. The boom in personal coaches and trainers along with tech tools to monitor and track in other parts of our lives makes this point clear. Don’t live in your bubble or relish that you’re not being pushed. Realize we all need friction to make us better; measurement is that friction that shows you where you are and where you need to be.