TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1379186
18 | M R EP O RT COVER FEATURE tive to meet the needs of all our customers—high-touch, medium- touch, and low-touch. Technology and access to information are drivers that we need to continue to expand. We need to improve all elements of digital execution— from taking the application, to closing the loan and throughout the servicing process. And we need to be there on a personal level when necessary. Finally, we need to attract new and diverse talent to our industry—we need to look like the communities we serve if we want to be accepted by the communities we serve. Paul Gigliotti COO, Pinnacle Home Loans; President, AXIS Lending Academy M // What is the best career advice you have received during your time in the mortgage industry and why? GIGLIOTTI // The truth is that the best advice I have received was more of a growing inner awareness I came to over many years of experience working with a variety of professionals. Learning from other leaders about what is essential and what to improve has always been helpful but creating a personal "why statement" is the foundation for me. It all boils down to growth, change, and development—to innovating and integrating better solutions on a continual basis. When I am asked why, I can only respond with "because I can"—and so can you. M // What advice would you pass on to someone entering the mortgage industry? GIGLIOTTI // Stay curious. There are many career opportunities in the mortgage and lending industry. Always seek to educate yourself. You may have many options to be trained, but I recommend finding opportunities to be educated. The difference is career-altering. When you are training, you are learning to per- form a task and fulfill a specific role. When you are educated, you are engaged in experiential, cross-department knowledge and learning. Education in the indus- try gives you the ability to see the bigger picture and provide a solution that impacts not just the outcome in your particular func- tion but also begins to shape your company culture and allows you to carve out a career path. M // What are 2-3 ways you believe the mortgage industry needs to innovate or evolve? GIGLIOTTI // Innovation is about solving problems in a new and creative way. While our industry is growing, we are continuing to notice the importance of bridging the gap. Many mortgage lending companies are placing a concert- ed effort on participating in the conversation of DEI (Diversity, Equity, and Inclusion). We must continue to lead this conversation and be intentional about provid- ing lift. In my opinion, taking action to bridge the opportunity gap is a natural evolution, an innovation that solves the DEI gap in our industry. Education creates opportunity, and opportu- nity creates lift. This lift bridges the diversity gap we see in our industry. Through education, we create an even playing field for a more diverse workforce, which subsequently leads to more di- verse participants in the housing market. Taking it a bit further, by focusing on the consumer journey it allows us to deepen the relationship and move from a traditionally transactional model to a new experiential model that focuses on building the relation- ship, Why? Because we can, and we should. Stanley C. Middleman Founder and CEO, Freedom Mortgage Corporation M // What is the best career advice you have received during your time in the mortgage industry and why? MIDDLEMAN // The best advice I received in this business is that our business is not a random boom-and-bust industry. Rather, it is one that follows the real estate and interest cycles in the broader context of the economy. This has helped me to under- stand how to develop tactics and strategies that were appropriately timed and executed. M // What advice would you pass on to someone entering the mortgage industry? MIDDLEMAN // The best advice I could provide anyone is that you are not the master of the universe. Exploit the market for its condi- tions for what they are, not what you want them to be. Do not consider yourself a market maker. This will allow you to avoid fighting the current, allowing you to be creating a flexible and agile approach to the marketplace. M // What are 2-3 ways you believe the mortgage industry needs to innovate or evolve? MIDDLEMAN // Innovation and evolution are linked. We innovate in response to evolution. Today, the speed of technological change has provided us the tools to satisfy customer demand and operational efficiency. These two things are integrally intertwined. They should not be considered independently of one another. Always get better, never think you are done. Mike Mikhail Director of Mortgage, Houwzer M // What is the best career advice you have received during your time in the mortgage industry and why? MIKHAIL // The best advice I received is that the mortgage industry is a people business. How you go about establishing relationships and managing those relationships will determine your long-term success. As the adage goes, what you put in you should expect to receive back. M // What advice would you pass on to someone entering the mortgage industry? MIKHAIL // When entering the mortgage industry, the ability to maintain a positive mindset while adapting to change is a key element to aid in success. Many times, challenges come up that