Magazine article Mortgage Banking

Everybody Talks about It, But

Magazine article Mortgage Banking

Everybody Talks about It, But

Article excerpt

I HAVE WORKED IN THE TRAINING FIELD within the mortgage banking industry for 17 years, and during that time I have experienced a lot of serious talk about strengthening the role of training in our industry--but I have seen little substantive change.

Now, as in 1987, training staffs mushroom during boom cycles and are laid off by the hundreds during downturns. (In 2004 you may see the person who was your 2003 trainer serving your latte or parking your car.) Now, as in 1987, training budgets balloon with falling interest rates and go "pop" when rates tick up.

The concepts of where training should report and for what it should be accountable are still largely unformed. Trainer (and training manager) recruitment, selection and development are still haphazard at best. Trainer compensation is reminiscent of roulette, and trainer accreditation doesn't exist.

In other words, we have a ways to go.

However, a major step in the evolution of our industry's training has recently occurred, and it requires recognition and a bit of explication.

Suffer one minute of organizational drudgery with me.

Our industry is largely represented by the Mortgage Bankers Association (MBA). MBA's residential membership is largely represented by the Residential/Single-Family Board of Governors (RESBOG), a group of approximately 25 industry executives. The detailed work on residential issues is largely accomplished by a cluster of six permanent committees that work to further the stated objectives of RESBOG. …

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