MReport November 2018

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TH E M R EP O RT | 11 TAKE 5 others. It has reinforced me to reach outside of my comfort zone and seek out diverse perspectives. M // How have both your job and the industry in general changed during the two decades you've been working in mortgage? COLE // Although we have learned from the sins of the past, there is still more work to be done. Unfortuantely, when volumes are high, most people focus on just getting rid of the inventory. With foreclosure volumes being historically low, my team and I have had the opportunity to learn to be more strategic in our approach. When volumes are low, one should take the opportunity to re-assess. It's the chance to ask, "What do we need to do differently?" I think we're taking a much different approach than we did back in 2008. Not only are we managing various investor and insurer regulations, but there are more guidelines on how cities are becoming more involved in the foreclosure process. With volumes as low as they are, there's not a lot of revenue coming in on the foreclosure side. We need to partner with the states and municipalities to figure out how we can best help each other; we ultimately all want the same things. But how we go about it may be a little bit different. That's why I'm more involved with things like Five Star and other organiza- tions, to examine and explore industry best practices. What are the initiatives that can help move the industry forward? We need to be coming together and trying to figure out solutions to those problems before they become critical. Spreading awareness and education is very important. We sometimes have a negative reputation that "the big banks don't care." We do care. We care about our cus- tomers, communities, and our reputation. There are many things to consider when you're dealing with the foreclosure process. M // As a nominee for the Keystone Awards, which honor excellence among the women in the industry, what advice would you give to a woman who is first entering the industry? COLE // Don't chase the paycheck. Do the right thing. Find out what your passion is and follow your path. Don't let anything stop you. If you're passionate and have a dream, stick with it, even if you meet initial resistance. Surround yourself with positive people, not just "yes people." You want people around you who can provide reliable advice and also coach you when you need it. Find both mentors and sponsors. Mentors will provide you advice on your career, but sponsors will really sign on and put their name on the line to vouch for you. Have faith in yourself and invest in your family, your friends, and your community to empower and develop another woman to succeed. Leverage your community and your advocates to keep you encouraged. Always think bigger than you. It's not about you; it's about what you do for others. "We all have it, but we don't always recognize how unconscious bias can limit us." —Timika Cole, SVP, US Bank An MReport Issue Featuring Five Star Conference's Keystone Awards Finalists Timika Cole Dr. Lynn Fisher THE COMMUNITY LEADERSHIP FINALISTS 949-900-6630 For mortgage professionals only. This information is intended for the exclusive use of licensed real estate and mortgage lending professionals in accordance with local laws and regulations. Distribution to the general public is prohibited. Rates and programs are subject to change without notice. Citadel Servicing Corporation is an Equal Opportunity Employer and does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, disability, veteran status, or other classification protected by law. Wholesale / Correspondent Non-Prime Lending FIRST TO MARKET FIRST TO INNOVATE FIRST TO LEAD PARTNER WITH THE LEADER IN NON-PRIME

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