MReport September 2018

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 17 of 91

16 | TH E M R EP O RT EXECUTIVE SPOTLIGHT M // This month, the Five Star Institute recognized you as its 2018 Lifetime Achievement Award recipient. Looking back at your prestigious career, can you share some of your key pieces of advice that will benefit other mortgage professionals? MCDOUGALL // First and fore- most, my success has been the result of surrounding myself with good people, and I have been honored to work with some of the brightest and best in the in- dustry. Employees are your great- est asset. Make sure your leaders are in the right seats to take the company to the next level. To do this, don't be afraid to hire people whose skills surpass yours and commit to invest in and mentor them. Sponsor and mentor others outside your enter - prise. It is rewarding and a way to give back, as many profession- als have done for me throughout my career. Also, data is powerful. Leverage it. Know and understand your P&L, identify and mitigate key risks, and measure performance to drive your business forward. It sounds cliché, but you must "inspect what you expect." Controls and reporting are critical to ensuring your business remains profitable and compliant. The mortgage industry is complicated. Even the best teams can make mistakes, as much of the work is not automated. M // How would you describe your management style? MCDOUGALL // Straightforward, passionate, and a product of my German upbringing, of which I am proud. I am often the one in the room who will raise a ques- tion or alternate viewpoint others may have considered raising but did not. I appreciate and expect my employees to ask questions and respectfully challenge others, including me. Discussion and de- bate make us better as a team and provides checks and balances. In business today, it's often hard to have all the facts and understand the impact of every decision. When this debate occurs among strong teams, you achieve the best results. M // What has been a career highlight for you? MCDOUGALL //There have been many, but the most important has been the people along the way, without question. I have remained close to a lot of former colleagues and leaders, and I value those relationships. They have enriched my personal and professional life, and I will be forever thankful for the great people I have met throughout my journey. I count it a privilege to have been in the right position to help save hundreds of jobs in 2008 and again in 2013. Secondly, the perspective I have gained has been incredibly beneficial. I have seen the mort - gage business from many vantage points. In my early years at EDS, I looked at it as an "outsider," pur- suing strategies and solving prob- lems for various clients. This was a good foundation for my career as a mortgage banker. Perspective certainly changes when you are on the 'inside,' balancing strate - gic planning and tactical change, customer focus, and corporate financials. And when I thought I understood it all, moving from a leader of servicing operations to an enterprise operational leader opened my eyes to other ways of viewing process, people, data, and technology. I have built success - ful organizations and in some instances, wound them down. It's the cyclical nature of the mort- gage industry that enhances and changes perspective and, in the long run, that can be energizing. While at EDS, I had the privilege to work with an excel - lent team to build the Mortgage Electronic Registration System (MERS). Today more than 100 million mortgages are registered on that system. It was an industry collaboration that transformed how we do business, and I was honored to be a part of that effort. In your current role as EVP, Chief Loan Administration Officer at Caliber Home Loans what does a typical day look like? MCDOUGALL //It's never dull and always a new challenge. Keeping current with the market and industry news and internal daily dashboards starts the day. Planning and tracking strategic initiatives is a priority and the most rewarding, and we spend an equal amount of time problem- solving and improving processes. Because understanding the data is so important, quite a bit of time is spent reviewing daily metrics and in business review meetings where leaders present perfor - mance results, initiatives, chal- lenges, and risks. Execution is everything; ensure projects remain on track and hold teams accountable. Over the past 18 months, there has been a tre - mendous focus on our digitization efforts, and I am more directly Marion McDougall, EVP, Chief Loan Administration Officer, Caliber Home Loans, Inc. Marion McDougall's colleagues have called her "passionate" and "visionary" and in her role at Caliber Home Loans, she has shown this by contributing to the management of $50 billion in loan production and a $140 billion servicing portfolio. Before joining Caliber in 2013, McDougall served as COO at MetLife Bank, N.A. for five years, managing the company's retail banking operations, mortgage servicing, and loan delivery operations. She has also held executive positions with First Horizon Home Loans, EDS, Norwest Bank, and Independence One Mortgage Corporation. In 2008, she was a crucial contributor in the sale of First Horizon to MetLife Bank. McDougall sat down with us and shared what she has learned from a career spanning 30 years in financial services.

Articles in this issue

Archives of this issue

view archives of TheMReport - MReport September 2018