TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/113472
M // How have your projections for 2013 evolved following the CFPB's recent release of rules governing qualified mortgages and the industry's servicers? ISHBIA // As far as adjusting to the possible policy changes, we think that is a must in this industry and one of the ways that UWM differentiates itself from our competitors. We react to changes swiftly and make sure we find a way to adapt to the changes quickly while always keeping our customers' best interests in mind at all times. We believe a transparent and responsive process is an easier lending process and benefits the borrower. We truly believe that if you consume yourself with understanding of the regulatory changes, that you can create a competitive advantage in the marketplace as others will be unwilling and undisciplined to meet the enhanced regulatory scrutiny. Our goals are clear; and we believe we will be able to achieve our production goals of $15 billion at UWM, along with all of our other objectives as it pertains to compliance, loan quality, operations processes, servicing, and more. M // What current compliance and riskmanagement strategies are generating progress and enhancing efficiency for your company? ISHBIA // Risk management is key to our business and a true advantage at UWM. We have risk committee meetings weekly with top executives to manage the risk of our company on all levels. Everything is discussed and addressed in these meetings from new regulations to loan quality, servicing issues, warehouse lines, compliance, and product level issues. In addition, we have a best-in-class compliance department that has more than tripled in size over the past year to monitor, address, and respond to the regulatory changes facing our industry. As a company, we focus on risk management so we can be a long-term player in the industry and continue to deliver superior customer service and a transparent lending process to the borrower. M // How has your early experience as an account executive for UWM impacted the leadership methods you are utilizing to help your team remain future-focused while operating in an unpredictable marketplace? ISHBIA // When I started at UWM nearly 10 years ago as an account executive, I worked as an outside rep in the Chicago market, where I learned firsthand what it took to really add value to brokers. I learned what was important to brokers and why they submitted loans to us versus our competitors. The level of support and responsiveness I delivered to my customers was instrumental to their success and my own, and this resulted in being promoted to our corporate office to serve as national sales manager, where I began building our inside account executive team. I focused on recruiting only the best, brightest, and most servicefocused salespeople and subsequently trained them in the so-called "UWM way," which targets consistency, knowledge, and worldclass service. As simple as that sounds, it has generated success for UWM because our account executives have the education, tools, and technologies to differentiate themselves from their competitors. And their success is our success. "To comply with changes and stay ahead of the curve, a company must make a major investment in compliance." —Mat Ishbia, United Shore Financial Services, LLC Compliance Review Specialists Staff appraisers in over 45 major metropolitan markets. The team of experienced professionals at Metro-West can help you navigate the ever-evolving compliance requirements with our production, post-closing, USPAP compliance and retrospective review products. • A+ rating with the Better Business Bureau • Fully compliant process using FNC's Collateral Management System • GSE, HUD and USPAP compliant appraisals and reviews • Geographically competent field and desk review experts in every branch • We perform audit reviews for AMC, VMC and Lender direct clients To learn how Metro-West can help you, visit www.metrowestappr.com or call us at (888) 676-9237. The M Report | 17