Change is mandatory. Progress is optional. Are signing bonuses a sign of progress? Perhaps not, and more a continued sign of the competitive times. “A $1 Million Salesperson Signing Bonus is Not a Growth Strategy” is worth a skim. Today’s podcast interview is with me discussing the current rough environment, and as our brethren trail off home from the Texas MBA to the airport in Austin (and actually recognize each other without masks), the talk is about volume and cutbacks. Vendors are being beaten up on price. Long, long gone are the days of padding margins to slow things down as mortgage applications tumble week after week. Refinance volumes have fallen dramatically and are now heavily skewed toward cash-out transactions. Lenders also continue to indicate margins have been cut as much as possible, forcing reductions in capacity to try and control costs as volumes fall. Mid-level management is threatened (do you need district, regional, and divisional managers?) Producing branch managers on a salary plus commission are being scrutinized, especially in smaller markets. LO compensation is being analyzed and segregated. (Today’s podcast is available here and this week’s is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking.) Lender and Broker Programs and Services What’s the only thing better than enjoying renowned Italian cuisine in the excitement of New York City’s Times Square? Doing that while discussing ways to automate your secondary marketing functions and boost competitive strategies. If you’re planning to attend the MBA Secondary & Capital Markets Conference & Expo, be sure to visit with Optimal Blue at Carmine’s Italian Restaurant on May 16 or 17. Simply request a meeting, and one of Optimal Blue’s secondary marketing experts will be in touch to discuss scheduling. This is an exclusive opportunity to learn how integrated software and data can support your unique business strategies, surrounded by the energy and spirit of Times Square!