Wednesday, April 4, 2012

How Can the Mortgage Industry Regain Credibility? For Starters, a Rethink of Training and Learning

While the economy and the stock markets have crawled back to life, the sectors that drove the economy into the worst recession in decades —  mortgage and banking — are still grappling with a tough issue in the aftermath: How to restore the public credibility and trust that the revelations of financial crisis utterly destroyed.

That’s a big problem to chew on in a single blog post, but as someone who works at Allonhill, a mortgage risk management and loan due diligence firm, I’ve got a close-up view of the problem. And since my job is to help people in the mortgage business to learn to succeed at their jobs, I think a big part of the answer revolves around rethinking how banks and lending institutions train — and re-train — their employees and how they enforce that learning.

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