Monthly Archives: November 2013

Partnerships: Building Relationships Rather than Chasing Transactions

Whether you’re in B2B or B2C sales, building meaningful, long-term relationships with your customers seems to be increasingly replaced with buying lists, cold calling, and email spam. These practices require little effort, time, and brainpower compared to focusing on developing more substantial partnerships. They’re all about sizzle and short-term gain. What happened to earning customers […]

CFPB Dealer Participation Update

When a regulatory body comes into conflict with industry powerhouses, fireworks are the result. And by fireworks, I mean a lengthy, sleep-inducing process punctuated by moments of double-speak and a complete failure to answer direct questions. Sorry. I just finished watching the Hearing on the Consumer Financial Protection Bureau’s Semi-Annual Report to Congress, which is […]

Baby Boomers & the Home Improvement Industry—Those who Stay

Previously, we discussed the impact of newly-retired baby boomers on the home improvement industry as they sell their property to younger buyers. According to the Joint Center for Housing Services—Harvard University (“JCHS”), another group of baby boomers chooses to stay in their houses but undergo remodel or repair. As Ron would say, they’re staying classy. […]

Participation Payments to Dealers Coming to an End?

Where loan origination is fragmented, payments get made to intermediaries for the services provided.  In some cases, those payments are clearly disclosed to borrowers as fees on the loan.  However, most of the time the cost of paying the intermediary is built into the borrower’s interest rate.  In the mortgage world, this is called yield-spread […]

Pride in Achievement: A Story of Transparency

Honesty and transparency are a huge part of our culture. They are principles by which we judge ourselves, our business partners, and even our competitors. The truth of it is—if we value these qualities in ourselves, wouldn’t we want to do business with the same kind of people? Answer: Yes. We think that it’s important […]

Fun with Math, Part 2: Credit Risk Illustrated

A common view of bankers is that we spend our mornings swindling the public and our afternoons rolling around in piles of money.  While I can’t speak for the investment banking community, life in commercial banking is far less edgy (and far more ethical).  In our business, service is essential and we operate on very […]

The Declining Interest in DIY (For Now, At Least)

The Remodeling Sentiment Report of 2013 indicates an increase in people choosing to hire a contractor rather than do the work themselves. Dan Fritschen, the creator of the report, believes that his data indicates: “The influences of the recession are continuing to diminish. The report shows that homeowners are remodeling again, doing bigger projects and […]