I could tell that my cat Myrtle was incensed. I think that it may have had something to do with an email regarding artic krill oil, and her clicking on a link to check on the status of the prize that she’d won, supposedly a lifetime supply. After clicking on link everything she had in her trust fund vanished. Easy come, easy go. If Myrtle falls for something like this, how many employees fall for things like, “Your benefits have changed; click here to see your new health plan,” or, “Your retirement fund needs to be moved; please click here for options.” It’s critical to put your employees, old and new, through regular testing. (No, this is not a paid ad.) Switching gears, and very similar to the residential lending industry, according to a new DeWalt Powering the Future survey nearly half of U.S. contractors say training the next generation is critical for the industry’s 2023 growth followed by contingency planning and resilient supply c
As the MBA’s conference in Nashville wraps up, lenders and vendors are in an interesting mindset. Optimists are saying, “There’s a lot of opportunity out there” and, “Rates will come back down and refis will give us some oomph.” The pessimists are saying, “Why do I care about multi-year Agency goals when I’ll be lucky to make it through the next two quarters. We’re just trying to cut costs fast enough, including LO comp, and outlast our competition.” Lenders everywhere are doing what they can now to make themselves more efficient, fearing rougher times ahead. Banks and credit unions are looking at cross-training skillsets: Prioritizing coverage and making sure to cross-train so people can play to their strengths. Analyzing what tasks they're doing, and the best people to do it. Workflow? Lenders are minimizing file touches, using a cheaper resource for parts of the file, and moving more duties from underwriti