What does a great leader in the mortgage industry look like? Managing operations and overseeing processing, underwriting and closing can be a tough balancing act, but the best leaders can achieve these things with care and compassion.
Jennifer Corcoran, SVP of Operations, joined a recent discussion for Newrez Voices to let us in on her secrets for successful ops leadership. Watch the video to hear her story and read on for some great tips for mortgage industry success and how the role of technology is shaping operations today.
Building a Career in Mortgages
“Things aren’t going to land in your lap. If you want to grow in your career, you have to speak up.” —Jennifer Corcoran
If you’re new to the mortgage industry, it’s a good idea to try and exceed in your role, no matter what it is—that way, you can build your knowledge and skillset.
Secondly, always ask questions. There’s a lot to learn in the mortgage industry, and a career-long commitment to learning from others, helping where needed, and asking the right questions will pay dividends in the future. Newrez encourages continued learning for all of its employees through online trainings and other resources.
Lastly, always make sure you know what drives your team. This helps forge closer connections between teams and strengthens the overall mission.
Leading in the Technology Age
Remote work has changed the way many businesses operate, though it can sometimes cause workers to feel distant from one another. Here are some tactics to keep teams of employees working closely together and supporting one another.
1. Stay on Camera
Being on camera during video calls reduces distractions and multi-tasking. It might also help team members feel more connected as they can see each other’s faces and read expressions and body language.
2. Pick Up the Phone
Rather than relying on messages or emails, don’t hesitate to pick up the phone and ask for a quick chat. It’s usually faster and helps to boost teamwork.
3. Get to Know Your Team
Virtual happy hours help team members get to know each other more personally, which may help build trust and respect. Camaraderie is an important aspect of company culture at Newrez.
Why Technology is Not Replacing the Most Important Part of Mortgages
Jennifer remembers when automated underwriting systems became popular. There were some underwriters who were resistant and worried they would be replaced. Instead, those systems became a tool to help underwriters make better decisions, enhancing their work.
Now, AI is stirring up similar concerns. But Jennifer’s take is that AI needs to be embraced because it helps processes move more quickly and could make everyone’s job easier in the long run.
There are some things AI simply can’t replace. Human interactions are not going to become less important in mortgage sales. People choose their loan consultants based on who they like and trust, and that’s “exactly the same as the first day I came into this business,” Jennifer said.
At Newrez, we combine cutting-edge technology with the one-on-one attention of our mortgage experts. This approach ensures borrowers get all their questions answered and move through the application and closing process efficiently while still feeling cared for.
Smoother Loan Processing
Digital verification makes loan processing smoother, and borrowers are increasingly comfortable with digital tools.
Newrez’s online portal lets borrowers pay bills online and stay updated on escrow statements and beyond. However, some borrowers will still prefer picking up the phone and having a chat with loan officers. That’s why Newrez offers multiple methods of contacting our team, depending on borrower preferences.
After all, people are at the heart of the mortgage business. Newrez cares deeply about giving our borrowers the highest level of service and a great experience.
For real estate and mortgage professionals only and not intended for distribution to consumers or other third parties.