Sep. 11: Must read “joke”; Vendor news snippets; Women provide career advice; Saturday Spotlight: Supreme Lending

What happens when you mix religion, politics, and health? Lenders and vendors may want to skim through United Airlines’ new policy. And here’s a tip for anyone who enjoys the autumn: The 2021 Fall Foliage Map is a visual planning guide to the annual progressive changing of the leaves in the United States. This tool is meant to help people estimate when and where to go to catch autumn color at its peak, something that has been happening for millions of years. But it was only twenty years ago… Remember that day? Take a few moments to think about those, alive twenty years and a day ago, that we lost due to Islamic extremists, the chaos that we went through that day, and the friends and families that were impacted forever. And please read the “joke” below.

Saturday Spotlight: Supreme Lending… Building customers for life

  

In 3-5 sentences, describe your company (when was it founded and why, what it does, where recent growth and plans for near-term future growth).   

 

Supreme Lending is a full-service mortgage lender where the customer always comes first. Our company was founded in 1999 by Scott Everett, whose vision was to create the best home financing experience possible. With an ever-expanding branch network and team of talented mortgage professionals, we help families across the United States achieve their homeownership hopes and dreams using innovative technology and a wide variety of loan solutions to meet any lending need.

 

After a record-breaking 2020 with $15.96 billion in total volume (107% volume growth) and 59,675 families served, Supreme was named a Top 15 Mortgage Lender for Retail Volume (#15) and Top 20 Mortgage Lender for Overall Volume (#20) by Scotsman Guide, a Top 100 Mortgage Company in America (#17) by Mortgage Executive Magazine, and a 5-Star Retail Lender by Mortgage Professional America. Supreme is also included on Inc. Magazine‘s 2021 Inc. 5000 (the prestigious annual list of the country’s fastest-growing private companies) for our extraordinary 126% growth in revenue over the past three years (2017–2020).

Tell us about what type of volunteer work employees are encouraged to engage in, or charities your company supports, and why.

Supreme’s commitment to our communities begins with our President Scott Everett. Long-time Supreme employees have story after story of Scott’s service to others. Scott’s example has extended to our regions and branches, who are contributing to their communities by sponsoring events, holding fundraisers, volunteering their time, and making monetary and other donations.

 

What does your company do to help elevate your employees’ growth? Describe any mentoring programs, outside classes or training, in-house training. How does the company help people develop?

Supreme holds an annual 3-day Sales Rally in our home city of Dallas, Texas, that is focused on personal and professional development and open to all branch associates. In addition, our teams are provided with unique opportunities to grow their leadership skills, such as courses led by industry experts and motivational speakers who share insights and inspiration. For example, our President’s Club is currently participating in Clint Bruce’s 4-week PursuingElite virtual training course. Our in-house Training Team’s calendar is stacked with onsite visits and live webinars to allow for interaction and engagement. An extensive library of resources and recorded training sessions are also available for reference.

Tell us how your company maintains its culture in the office, or in a work-from-home environment if applicable.

Supreme Lending is the perfect example of a large organization with a small company culture. As our company continues to grow, the connections between our team members, customers, and referral partners only grow stronger—even as a large percentage of our team are still working remote. Scott Everett is known to say that “Supreme Lending will not grow a dollar past its culture,” emphasizing the importance of keeping our company focused on our people, not profit. We’re excited to return to our annual holiday celebrations and company traditions that our company is known for.

 

Things you are most proud of that don’t have to do with sales.   

We treat our employees more as a family than as a corporation. We’ve built a community where people enjoy going to work because they know they are contributing to a good company with good values. It’s much more fulfilling than just a “clock-in, clock-out job” because we know we are going to work for a place that recognizes our hard work and genuinely appreciates us.

(For more information on having your firm, employee growth, and your charitable side featured, contact Chrisman LLC’s Anjelica Nixt.)

Women and people of color in the workplace

U.S.-based companies announced 118 CEOs left their posts in August, 7% lower than the 127 who did so in July, and 8% higher than the 109 CEOs who left their posts in August 2020, according to a report by global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc. So far this year, 888 chief executives have left their posts, down 1% from the 897 CEOs who left their posts through August last year. Many more of those CEOs are being replaced by women than at any other time in Challenger’s tracking. Nearly 25% (24.94%) of new CEOs are women, compared to 22% in 2019 and 15% in 2014. Just 10% of new CEOs were women in 2010, when Challenger began tracking gender.

I asked people of color and women in the industry about their early careers, and appreciate the time they spent responding. I will happily circulate more responses if you care to write, and have more already to publish. “What do you think the best advice you can give those starting out in the mortgage industry?” or “What is the boldest move you made that helped advance your career?” or “What do you wish someone would have told you about being successful in this industry?”

Marcia Davies, COO of the Mortgage Bankers Association and head of the mPower events, sent, “The pandemic has changed everything, from the way we work to shining a light on the ever-increasing demands placed on women. What do these lessons mean for the future of women at work? Be part of meaningful conversations, influential networking and hear from a powerful lineup including Mika Brzezinski, MSNBC’s Morning Joe Co-Host, Founder of Know Your Value, and New York Times Best-Selling Author; General Nadja West, First African American Army Surgeon General and Former Commanding General, US Army Medical Command; Ishanaa Rambachan, Partner, McKinsey & Company and Author of McKinsey’s Women in the Workplace 2021 Report; Lisa Sun, Founder & CEO, GRAVITAS; and a powerful leadership session where the four female MBA Chairmen take the stage for the very first time.

“Take a day for yourself and experience the power of together. Be part of women supporting women at mPowering You, MBA’s Summit for Women in Real Estate Finance, October 16 in San Diego. As with past years, MBA’s Annual Convention & Expo will immediately follow mPowering You.”

From Colorado, NBH’s Cindy Leonard relayed several comments and questions. “Work for a company/boss that has your back. I am risk adverse, so I never made a bold move. I have been in the business for 30 years and there were no women executives, so it is up to either the company or your boss or the State (if you work in Colorado) to make sure you are properly compensated.

“Be aware of your worth so you know if you are at least in the ballpark and when you get in a position of authority be the person that encourages and champions other women, not the person that is threatened by them. Always be that annoying noise that states the obvious. Why is there only one women on the board, and typically they are in marketing (no disrespect for marketing)? Why are we ordering shirts with company logos, that only a man would wear when the team is 60% woman? Why always a golf tournament or a shooting event?

“Why do the male salespeople make more than the women, even though they close the same? Better negotiators? Why do women take a lesser role because of child rearing?  With this WFH thing, allow and encourage women to do their job in their own time frame. A local bank allows women, on their executive track, to work 30 hours a week until their child is of a certain age without losing their place in line. That is brilliant!

“I have also found that many women will not step into commissioned jobs because they are risk adverse, so come up with creative ways to get them there.  I have many women that work for me that close between 50-100 million a year, but it took perseverance to get them to a fully commissioned status. To give up the stability of a base wage and a small per loan override and go to a fully commissioned model, was a struggle, even though they could make 5 times the wage. Give them a safety net guarantee for as long as necessary so they are not worried about the low months, financial stability cannot be the objection. Most of these saleswomen come from the operational side, so they are amazing at their jobs and they only get better and better and close more and more.”

Paola Kielblock, President of Products with Fairway Independent Mortgage Corp., replied to the question, “What do you think the best advice you can give women starting out in the mortgage industry?” “In looking back at my 21 years in the mortgage business, the best advice I would give women who are starting their career in the mortgage industry is to be persistent about learning and educating yourself and seek out multiple mentors. People that can help educate and guide you through the different facets of the industry. It is so important that we see the entire vision, have a good working knowledge of what we do, and how all those pieces fit together.

“The boldest move I have made to help advance my career was taking a leap of faith and doing something outside of my comfort zone, something completely different than what got me into the business. I moved away from loan origination, and threw myself fulltime into product development and secondary markets. When you start to feel complacent and unchallenged in your role, that’s your sign it’s time to make a move.”

And when asked, “What do you wish someone would have told you about being successful in this industry?” Paola replied, “In order to achieve long term success in this business, you have to act thirsty and be humble. The mortgage industry is consistently evolving, and changes will occur daily. Embrace the challenges and mistakes and more importantly learn from them both. The knowledge you gain from those real-time, real-life experiences will catapult you to the next level of leadership. Be a great listener. Be intentional with every conversation. Learn to be build solid and strong partnerships with not only your teammates, your peers, but investor and vendor partners. Having strong connections with loyal partners will help carry you through the good times, but more important the challenging times.”

Vendor snippets

Lenders continue to outsource portions of the file flow to various vendors. These companies, in turn, do a lot more than make up names and capitalize letters in the middle of their names. Let’s take brief look at who’s doing what.

2021 lender research results revealed: Find out what 1,000’s of lender responses were in the annual MBA Contact and Lead Vendor Analysis studies. Companies pay significant amounts for market research like this, but Insellerate is sharing it with everyone on September 16th, at 10:00 AM PST in a free 30-minute webinar.

HomeLight announced $363M of new funding to reach a valuation of $1.6B. The round includes $100M of Series D equity and $263M in debt financing to power HomeLight Cash Offer™ and HomeLight Trade-In™ operations, bringing HomeLight’s total funding to approximately $530 million to date. Funding will be used to accelerate the expansion of its technology platform for agents, including its flagship financial products to new markets across the country.

Nomis, a global, industry-leading pricing and profitability management solutions provider, recently introduced several product enhancements to its mortgage technology solutions. Updated data frequency and enhanced coverage and brand-new intuitive Margin Setter dashboard functionality enables mortgage lenders to maintain the most strategic market position utilizing the more than 35 million data pricing points Nomis collects daily. Nomis Solutions users now have access to data for another 30 new metropolitan statistical areas (MSAs).

Finance of America Mortgage (FAM) has selected Closepin’s cloud-based platform to streamline approvals and verifications of its network of third-party settlement and closing agents.

ChainLogix Mortgage Solutions announced the release of its new platform TaxLogix. Services provider for the real estate tax, title insurance, settlement, and lending industries,

ChainLogix’s new platform automates property tax research by leveraging advanced RPA and Technology. Features include ease of ordering, the ability to manage a user profile as well as bulk uploads. The system also provides automatic report generation and delivery as well as dashboard analytics.

National MI integrated with Mortgage Coach allowing loan officers to present borrowers with personalized National MI Rate GPS risk-based pricing options without leaving the Mortgage Coach platform. Mortgage lenders can create accurate, digital home loan comparison scenarios for borrowers.

Notarize and Snapdocs, Inc. partnered to deliver an end-to-end digital closing experience that now includes Notarize’s market-leading RON solution. Through its platform, Snapdocs customers can access a remote online notary through the Notarize platform to conduct the fully digital closing. With Notarize, signers can digitally notarize documents via any device in a remote online video meeting with a commissioned live notary for a fully digital mortgage compliant and available in nearly all 50 states. The partnership allows Snapdocs (a real estate technology platform working natively with leading loan origination, point of sale, title production, eNote, and RON solutions) to expand its offering to include Notarize’s RON solution.

(This is truly a day of remembrance. And perspective – thanks to my son Robbie who does the daily podcast for sending this along.)

Today was the absolute worst day ever

And don’t try to convince me that

There’s something good in every day

Because when you take a closer look,

This world is a pretty evil place.

Even if

Some goodness does shine though once in a while

Satisfaction and happiness don’t last

And it’s not true that

It’s all in the mind and heart

Because

True happiness can be obtained

Only if ones surroundings are good

It’s not true that good exists

I’m sure you can agree that

The reality

Creates

My attitude

It’s all beyond my control

And you’ll never in a million years hear me say that

Today was a good day

Now read that from the bottom up.

Visit www.robchrisman.com for more information on our industry partners, access archived commentaries, or to subscribe to the Daily Mortgage News and Commentary. If you’re interested, visit my periodic blog at the STRATMOR Group web site. The current blog is, “An M&A Snapshot.” The Commentary’s podcast is live and at any place you obtain your podcasts (like Apple or Spotify).

qoɹ

(Market data provided in partnership with MBS Live. For free job postings and to view candidate resumes visit LenderNews. This newsletter is designed for sophisticated mortgage professionals only. There are no paid endorsements by me. For up-to-date mortgage news visit Mortgage News Daily. For archived commentaries, or to subscribe, go to www.robchrisman.com. Copyright 2021 Chrisman LLC. All rights reserved. Occasional paid job & product listings do appear. This report or any portion hereof may not be reprinted, sold, or redistributed without the written consent of Rob Chrisman.)

 

Rob Chrisman