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There is always an opportunity to grow profits without taking on additional risks. Sometimes it makes sense to engage someone to help you identify those new opportunities and point out areas of risk. Musicians become great musicians because they constantly take music lessons from many teachers. Athletes become great athletes because they have coaches to help them improve. If you are an owner or manager of a mortgage bank, think about bringing in some outside people occasionally to help you look for new approaches, processes and ideas. ...

In the past year, we’ve still seen a few companies allow their loan officers to lock directly with investors. Investors today allow their correspondent customers to manage secondary market activities and margins from their web sites. We believe this is a dangerous process that can lead to revenue leakage and poor pull through with investors not to mention product guideline violations and a higher chance of loan repurchase demands. All of these can be costly to an operation. ...