IIn the traditionally male-dominated mortgage industry, women are making remarkable strides, breaking barriers, and leaving an indelible mark on the field. The year 2023 showcases a cohort of trailblazing women who are transforming the mortgage industry through their exceptional leadership, innovation, and dedication.
These extraordinary individuals have risen to influential positions, shattered glass ceilings, and are empowering others with their expertise and vision. Their achievements, impact, and commitment to excellence serve as a source of inspiration for aspiring leaders and professionals in the field. From executive leadership to entrepreneurship, these women have forged their paths and are shaping the future of the mortgage industry.
These women have demonstrated exceptional leadership skills, strategic thinking, and the ability to navigate complex business environments. They have not only achieved remarkable success in their own careers but have also championed diversity, inclusivity, and equal opportunities within their organizations and the industry as a whole. Their stories and accomplishments highlight the importance of representation and serve as a testament to the power of resilience, determination, and the pursuit of excellence.
Through their innovation and forward-thinking approaches, these women are redefining industry standards, introducing technological advancements, and fostering a culture of collaboration and empowerment. They are actively involved in mentoring and supporting aspiring professionals, creating opportunities for growth, and paving the way for a more diverse and inclusive mortgage industry.
By recognizing The 10 Most Empowering Women in Mortgage Industry, 2023 , CIOLook celebrates their accomplishments, highlights their impact, and acknowledges the progress being made towards gender equality and inclusivity. Their presence and influence serve as a catalyst for positive change, driving innovation, and transforming the mortgage industry into a more diverse, equitable, and vibrant ecosystem.
Flip through the pages and have a delightful read!
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CONTENT
Deputy Editor AbhishekJoshi
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DESIGN
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Sales Executives Ryan Greer
TECHNICAL
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Canada Mortgage cmhc-schl.gc.ca
Amelie is an adept leader who has been serving the clients with the best services and solutions.
Officer
Ultimate Mortgage Group ultmgroup.com Champions Funding champstpo.com
Cecilia has helped and continues to assist thousands of individuals and families to make their dream of homeownership or financial independence a reality.
Christy has over 20 years of experience in financial services marketing, project management, event planning, business intelligence.
Donna is an experienced Mortgage Loan Officer with a demonstrated history of working in the banking industry. TD Bank td.com
Officer
JCMortgages.ca jcmortgages.ca
Janna is passionate about delivering an exceptional client experience to alleviate the stress and reduce the financial burdens that come with change.
Officer
Fairway Independent Mortgage Corporation fairwayindependentmc.com
Karen has a genuine desire to meet the needs of both new and experienced homebuyers with her "follow up and follow through" business mantra.
Citizens Bank citizensbank.com
Mary is inspirational, energetic, and result-driven leader.
BasaliTech basalitech.org
Setsoto is a team leader and Senior IT specialist (MCSA) passionate about technology and people.
Polunsky Beitel Green, LLP mortgagelaw.com
Stacey is an established all-star with hands-on experience in nearly every aspect of mortgage lending.
Cherry Creek Mortgage Co cherrycreek.com
Tara aims to create long-term relationships by providing clients with thorough knowledge of current market conditions.
My impact in this market has been a successful one, and I believe that’s due to my mo o of always pu ng the client/customer first, a commitment that is core to TD’s opera ng model as well.
Delivering relevant services oriented to custom-
ers at a personalized level rather than fitting the needs of every client in a box and accommodating their needs to cater to their experience, realizing convenience, is what consumers expect in modern competitive prospects.
Thriving with this competitive nature of the market for 25+ years and helping borrowers with their personalized homeownership needs, Donna Schermerhorn is an experienced Mortgage Loan Officer at TD Bank with a demonstrated history of working in the banking industry, skilled in Construction Loans, Construction Finance, Medical Professional Loans, Banking, Sales, and Credit Analysis.
Donna’s experience and professionalism help her clients with the entire process of a loan, and as a result, the borrowers and builders that she has worked with value her expertise, along with TD Bank’s best-in-class loan facilities.
In an interview with CIOLook , Donna shares her unique approach to critically solving clients’ needs which makes her the successful mortgage loan officer that she is today.
Below are the highlights of the interview:
Brief our audience about your journey as a staunch woman leader up until your current position at TD Bank. What challenges have you had to overcome to reach where you are today?
Your question about my journey as a “ staunch ” woman leader is much more relevant than you may think. The word staunch has two primary definitions. The first is “ committed and loyal in attitude, ” and the second is “ strong or firm conviction .” My commitment and loyalty coincide with being strong and firm in the decisions I make. This makes the execution of any game plan fluid and allows me to continue a successful run. If either were absent from the equation, the road would have been a lot different.
Growing up in the south was much more than just a punchline; it was a way of life. Watching my parents and grandparents taught me that working hard was not optional – it was a necessity. I learned early on that working hard and applying myself could bring monetary
gain, but it also provided the fulfillment of competing and winning. I swam competitively when I was young. Winning a race was not just about external competitors – it was about my biggest competitor, myself. I set personal goals to improve my performance each time I swam, ensuring that I always pushed harder. I have tried to maintain that attitude throughout my life.
And more importantly, as a Christian, I do my best to follow God’s plan for my life and to run with endurance the race that God has set before me.
I started in the mortgage business like everyone else. I was full of hopes and dreams and quickly realized that no matter what, it would be an uphill battle. As a woman maneuvering through an industry dominated by men, it became apparent that as my success increased, so did the opposition. I am greatly encouraged by the strides women have made in our industry over the years, and I would like to think I played some small but significant part in that. I believe that this encouragement is what keeps me going on a daily basis.
Finding a niche in any career is really the secret to success. While being good at a lot of things might bring kudos and accolades, being great at something brings success. My definition of success is to bring fulfillment in one’s soul and financial gain together. I found over the years that construction loans and the entire process were not only enjoyable to me; I was really good at understanding and completing the work. When you are “ really good ” at something, the cream will rise to the top. I did just that and will be forever grateful to this industry and all those that helped and shared in my success along the way.
TD Bank, America’s Most Convenient Bank®, is one of the ten largest banks in the U.S., providing more than 9.5 million customers with a full range of retail, small business, and commercial banking products and services at more than 1,220 convenient locations throughout the Northeast, MidAtlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth® and vehicle financing and commercial dealer services through TD Auto Finance.
My commitment and loyalty coincide with being strong and firm in the decisions I make.
Over the years, I’ve worked for a variety of incredible institutions, and TD is no exception. But what ultimately attracted me to TD is construction lending, which, as mentioned before, is not only a passion of mine but also a type of loan that I’ve built a strong knowledgebase of over the years. In my experience, TD is one of the premier lenders of construction loans in the industry, so being affiliated with them is a good fit for both me and TD.
Enlighten us on how you have impacted the Mortgage Industry through your expertise in the market.
Making an impact in any career or market simply means that you have left a mark in some way. I would simply say that by being successful, I have made it clear to all striving for success that it can be done. As a woman in a male-dominated industry, being successful came with a lot of blood, sweat, and tears. As my regional manager, Jeff Brown, says, “The mortgage business is not for the faint of heart.”
Anyone can win at any time; however, winning consistently takes deep roots, a good reputation, and influence in your market. My impact in this market has been a successful one, and I believe that’s due to my motto of always putting the client/customer first, a commitment that is core to TD’s operating model as well. Further, I’ve always believed that when you put money first, you’ll fail, but when you put people first, the money will follow.
What methodologies do you implement that contribute to new growth opportunities?
My methodology and system of work have been the same since my first job in a shoe store. If I can put the needs of the customer first, everything else will fall into place. How does this apply to the mortgage business? Well, you first have to know your product. Knowing the product and how to help the client is the key to success in the mortgage industry. This translates to trust in the referral source because they know that when they turn their client over to me, they will be treated professionally and with their best interests in mind. Referral sources are my lifeline. I take it personally when something goes awry, and I do not stop until it is fixed, rectified, or at least addressed to the best of my ability.
Undeniably, technology is playing a significant role in almost every sector. How are you leveraging techno-
logical advancements to make your solutions resourceful?
Technology is that one word that makes everyone’s ears perk up. They feel as though there is some secret sauce that can make loans flood in and bank accounts swell. The main technology when I started was a telephone –a landline, to be exact. The use of technology for me now still revolves around the telephone. Being able to speak to clients verbally eliminates any misunderstandings that can arise from texts, emails, or notes. I use these things to enhance verbal communication, not take their place of them.
I still use the Franklin Covey, handwritten daily planner, not because it is easier, but because it is what I am used to – and it works! Computers are essential in communication with my team at TD. While emails are the primary way we communicate, we still end with a good old-fashioned phone call to verify the information sent.
What change would you like to bring to the Mortgage Industry if given a chance?
This question of what change I would bring is the same as “if I were queen for a day.” Making rules is really the opposite of what I would bring. While anarchy is not the suggestion, by any stretch, flexibility is. Each client is different, and the dollar amounts of each loan will suggest a different approach. When we put our clients in a box, we are taking away their individual needs and trying to produce many of them the same. Each person is individual and unique, as are their needs. Shouldn’t we approach them as such?
What, according to you, could be the next significant change in the Mortgage Industry?
I can see technology taking a much more significant role in the loan process. In the same way, going to a restaurant and ordering through a kiosk has now become acceptable; perhaps there would be no need for a loan officer to help the client. That said, I believe this would damage the reputations of banks and financial institutions, at least early on, as the idea of personal service would become a memory. When we spend money on a home, no matter how much it costs, it is one of the most important transactions in our lives.
After all, it’s a huge investment and doesn’t come easy to most, so it should elicit special feelings. In my
opinion, relying on a computer instead of assistance from a human is not the way to go. But buckle up because I believe something that resembles this format is in our future.
Where do you envision yourself to be in the long run, and what are your future goals with TD Bank?
Having been a manager of a branch office at another institution and leading a team, the idea of doing that again has some appeal. However, as someone who enjoys the freedom of being able to approach my life as I deem necessary, that would indeed hamper my ability to move around freely on a daily basis. They say, “if it isn’t broken, don’t fix it.” Well, as far as I can see, this isn’t broken, so I would assume that my long-run and future goals all coincide with the track I am currently running.
The one thing that has led me here would be the same thing that would inspire my long-term goals with TD, and that is the opportunity for success; whatever picture that paints is how I choose to address the future.
What would be your advice to budding entrepreneurs who aspire to venture into the Mortgage Industry?
Having brought a few “ newbies ” into this industry, my advice has always been the same. If you take
shortcuts, you hurt yourself and your goals. If you hurt yourself and your goals, you are hurting those you have chosen to help you. There are NO shortcuts to success. Remember, as I stated before, anyone can win at any time, but consistent success requires focus and planning.
If you think you are here for the money, don’t do it. If you think that sacrifices will not be required for success, don’t do it. If you desire to put your clients first at every turn, do it and do it to the best of your ability –that’s how you’ll succeed. And that doesn’t mean you’ll be perfect. The best way to succeed is by making good decisions; to do that, you have to make a few bad ones and learn from them. But always acting in the best interest of your client will keep you on the path to success.
I’ve always believed that when you put money first, you’ll fail, but when you put people first, the money will follow.
It's no secret that the world of real estate can be complex and overwhelming, especially when it comes to securing a mortgage. With so many options available and constantly changing market conditions, it's common for individuals to feel lost or uncertain about the best course of action.
That's where a skilled mortgage broker comes insomeone who can navigate the terrain with ease and help individuals and families find the right loan to meet their needs. When looking for a true expert in the field, Cecilia Ramos stands out above the rest: a seasoned professional with a wealth of experience and a reputation for excellence.
Owned and led by the iconic mortgage broker Cecilia Ramos- Ultimate Mortgage Company (Lic #11995) is a team of knowledgeable and dedicated professionals. Ultimate Mortgage Company is helping countless clients achieve their dreams of home ownership by providing top-tier mortgage services and personalized guidance throughout the process.
The belief company runs on is helping their clients. For example, “Whether you're a first-time buyer, looking to refinance, or navigating a complex real estate transaction, Ultimate Mortgage Company has the expertise and resources to help you succeed.”
We at CIOLook interviewed Cecilia on her role in operating the Ultimate Mortgage Group.
Let’s dive into the intercepts of the interview!
Brief our audience about your journey as a business leader until your current position at Ultimate Mortgage Group. What challenges have you had to overcome to reach where you are today?
Starting in the mortgage business for me was far from easy. I was faced with triple threats-young, immigrant/minority and a woman! I’ve had to work three times as hard. By dealing with so many different people, I learned the dos and don’ts.
Instinctively, I surrounded myself with genuine, successful, and kind people. I also equipped myself with the right virtues in life, such as honesty, assertiveness, patience, and humility. With the combination of all these things, I’ve attracted success while working at my business from the ground up to the top. I continue to share my time and expertise with others which have turned me into a mentor for many clients, colleagues, and industry professionals.
Tell us something more about your company and its mission and vision.
Our company helps consumers to achieve homeownership and financial independence. We teach and guide them to look beyond the “lowest interest rate” mentality and look at their home(s) as investments.
“Our company helps consumers to achieve homeownership and financial independence. We teach and guide them to look beyond the “lowest interest rate” mentality and look at their home(s) as investments.”
Cecilia Ramos Broker/Owner Ultimate Mortgage Group Lic #11995
Our guidance is like a vehicle that drives them to financial freedom and a wealth generator. Our company also teaches and supports licensed agents and brokers to help homebuyers and owners attain their homeownership dreams and real estate investment goals. It’s like paying forward. We’ve achieved massive success in the mortgage industry, and so we share our experience with other industry professionals to benefit from our expertise.
Enlighten us on how you have impacted the customers to gain financial freedom through your expertise in the market.
Doing my business well for well over 2 decades, I’ve helped so many consumers with different needs and dreams. I don’t discriminate or focus on high net worth and sophisticated clients alone. Moreover, I help consumers who are very new to homeownership or people who have had financial setbacks in the past.
Cherishing this mission all these years has taught me to be a well-versed individual and business owner. Gaining exposure through meeting so many different people from different walks of life has helped me hone my problem-solving skills and taught me to adapt and conform to all kinds of situations. This is the reason my clients benefit from my expertise in the market. The agents with the company also benefit from our mentorship program to help their careers while ensuring guidance to the customers.
Describe in detail the values and the work culture that drives your organization.
I always say and believe that we’re in the business of helping people. Our top priority is to identify people’s problems and needs; furthermore, we do our very best to find the best or unique counseling for every individual or family. I firmly believe that this sets us apart from many professionals and organizations. Thus, the percentage of our client retention is impressively high.
We welcome new agents and seasoned agents/brokers to our company, providing them with support. Different agents and brokers with varying levels of experience and needs are welcome to Ultimate Mortgage Group. We invest in our people.
Undeniably, technology is playing a significant role in almost every sector. How are you leveraging technological advancements to make your solutions resourceful?
Technology is important in our business and our everyday lives as a whole. We invest in technology to ensure our clients and agents/brokers, and staff have access to the most cost-effective, time-efficient, and innovative tools to manage, develop and sustain our business.
What change would you like to bring to the marketing industry if given a chance?
If I had the power to make a change in the marketing industry, I would create a system that is fully accessible to consumers, industry professionals, lenders and governing bodies that would eliminate fraudulent activities. I would market a reputable system that fosters transparency in the market to make the industry an even playing field as fraud gets larger and more sophisticated in the mortgage world.
What, according to you, could be the next significant advancement the audience should know about and how is your company prepared to incorporate it?
Probably AI would be it. We always learn to adapt to a changing environment but staying true to our mission without our culture and objective being compromised is always at the heart of our company.
Some of our business functions may be replaced with certain tools to be more adaptable. Still, we as “the people,” will always need to find ways to cater to our consumer’s and agents’ emotional, intellectual, social, and financial needs.
Where do you envision yourself to be in the long run, and what are your future goals for Ultimate Mortgage Group?
Growth and Expansion. I still see myself being heavily emerged in the mortgage business for many years to come. We are looking to grow the company in size and volume by hiring more agents and brokers. To date, we have 140 licensed agents and brokers, and we are continuing to grow week after week, month after month.
What would be your advice to budding entrepreneurs who aspire to venture into the dynamic industry?
As advice for the budding aspirants, I’d suggest managing your expectations and whatever you want to do it full-time. Remember to think outside the box. And recognize that we’re in the people’s business.
Christy Mindell
Any institution, whether it is society or organization, in the present century cannot function effectively without women’s equal participation in leadership activities. Women create a perspective that brings to competition and collaboration to organizations and teams.
In today’s world, organizations that are led by inclusive leadership teams make effective decisions that deliver a better result.
In the twenty-first century, the essential qualities required to lead include the ability to collaborate, connect, empathize and communicate. All these qualities exhibit sheet aptness in nature and assist in building a more sustainable future.
Standing out with these significant qualities is Christy Mindell , Executive Vice President of Marketing , at Champions Funding
Champions Funding is a lender focused organization on the wholesale/third-party origination platform where Christy and team empower mortgage brokers and originators to help underserved borrowers who have been either turned down for a loan from a traditional lender or have haven underbanked and marginalized when it comes to obtaining financing.
Under Christy’s leadership, the organization is driven with the ideology to maintain seamless interaction with clients, customers, vendors, and each other is important and their voice is heard.
In an interview with CIOLook, Christy shares valuable facts that highlight her professional tenure and her journey along with the challenges in the dynamic business arena.
Following are the excerpts from the interview:
Brief our audience about your journey as a business leader until your current position at Champions Funding. What challenges have you had to overcome to reach where you are today?
I’ve always been interested in the banking arena since I was a kid. I took a ROP high school course that specialized in banking and finance, thinking one that day I’d like to be a bank teller. My path led me to my first “real” job working as a Front Desk Coordinator at a Remax office with 4 locations which quickly led to a more senior role where I was doing Administrative work like accounting, signing up new Realtors, etc. I was going to college and took a real estate course so I could get my license to show new model homes with a builder. At least, that was my goal then.
Fast forward to a few jobs later and I found my way into a Private Money/Hard Money lender who primarily financed commercial real estate through trust deed investing. It was fascinating. I started as the Executive
Within my own team, I focus on empowerment and levelling up. I want my team to know that I will always align work to their strengths yet push them in areas that I see they could excel in even though they don’t see it themselves.
Assistant to the CEO. Besides my assistant duties, I also helped with sales and marketing, which wasn’t really formalized, nor did he have established departments, so I started running those. After finding success, I asked to be his Director of Marketing and created my own role. He agreed, and we built a sales and marketing department. I hired and formed teams.
I had to quickly learn how to manage others, from identifying candidates who would fit the company culture, to training, to being effective in work, to effective communication and workflow, to motivational support; all the while, I’m still learning for myself since I was in my 20s. And because I was in my 20s, leading people much older than me, I was faced with resentment and belief that I wasn’t fit for a managing role.
I’d find it a challenge to turn those doubters into believers through hard work and walking the walk alongside them, support for their work, and enabling them to grow their career in new ways.
I fell in love with marketing along the way, and it allowed me to put into practice what I’ve learned; I had great mentor bosses who showed me the way, and ultimately got my bachelor’s degree with an emphasis in marketing, working full time as a marketer.
After 13 years and a mortgage meltdown later, I found myself looking for a new adventure that took me to residential lending. I stepped out of my comfort zone to learn a new way of life in the mortgage. Walking into an existing marketing team, building cohesion within the marketing departments, bridging a gap with the sales team and finding opportunities for growth for everyone. Taking action was my mantra and mission.
That passion and that success led to more advanced roles that ultimately led me to run marketing teams for mortgage lenders, such as my role today as EVP of Marketing. It’s been a passion of mine to make a difference and help others. I’ve been grateful for the journey, in both the ups and downs, of it all because it led me to what I’m today.
Tell us something more about your company and its mission and vision.
We fill that gap in the market with products that help achieve homeownership goals. We are a Community
Development Financial Institution (CDFI) as designated by the U.S. Department of Treasury to provide nontraditional access to mortgage financing with a mission to serve underserved communities as well.
Enlighten us on how you have impacted the marketing niche through your expertise in the market.
I’d say the biggest contribution to marketing and the companies I work for is the ability to bridge the gap between sales and marketing. That has always been the area with the biggest disconnect. I believe the strong partnership between departments and the trust between departmental stakeholders earns the biggest rewards. I believe that you are always listening, finding cues, learning, asking questions and finding what you need.
When you get to be a part of the whole process from the beginning of the client journey before they even know about you, all the way to the end, where they are funding loans and everything in between, it gives you the power to craft messaging that resonates with them. Through those efforts I’ve been able to create stronger content with my marketing teams and creating company-wide brand ambassadors at every organization.
Describe in detail the values and the work culture that drives your organization.
When I get asked about our work culture, it’s the synergy we have towards a common goal. We are all salespeople and brand ambassadors. We believe every interaction with clients, customers, vendors, and each other is important and their voice is heard. The mission of helping underserved communities is also a driver where we can lock arms and perform our services to help someone in need.
Within my own team, I focus on empowerment and levelling up. I want my team to know that I will always align work to their strengths yet push them in areas that I see they could excel in even though they don’t see it themselves. I motivate them through empowerment to make decisions for themselves.
They use me as a source for making sure they are on the right path but ultimately, they are “driving their own business” as I like to call it. As a leader, I also make myself 100% available to my team
at any time. I have an open-door policy that even includes after hours.
If they have concerns or obstacles, it’s my job to help them clear the path or guide them in a way to get a successful outcome. I believe open communication has been key to running a successful marketing team with little turnover.
Undeniably, technology is playing a significant role in almost every sector. How are you leveraging technological advancements to make your solutions resourceful?
At Champions Funding, we were a startup in early 2022. Technology is very important to us, and building out the tools needed to ramp up, fund loans and succeed quickly was at the top of our list. Within 6 months, we built a custom UI interface for our broker portal that helps price a loan, submit and fund a loan with minimal clicking to do. It almost deems no training manual, although we still have one. It’s that simple.
We’ve also been able to build a CRM from scratch to empower marketing and sales to reach as many prospects and clients as we can.
We’ve used technology in a way to make our workflows streamlined and had the advantage of mortgage experience in our respective roles to bring modern technology to the company and build it out, without legacy technology, systems or data.
It continues to evolve, and we take our client feedback and put it into action where it takes us days, not weeks or months, to implement. That’s how nimble we are with technology.
What, according to you, could be the next significant change in the marketing sector? How is your company preparing to be a part of that change?
I see the next notable change in marketing is using technology tools to make our work more efficient when marketing resources are limited. The amount of content being created is high and in constant demand. Using tools that have hit recent news, like AI, can enable us to use resources wisely.
Another sector that is still underutilized is the ability to scale video marketing and streamline the production
efforts for an integrated marketing team. At Champions Funding, we have started to employ some strategies that will help a lean marketing team perform as a large agency would.
Where do you envision yourself to be in the long run, and what are your future goals for Champions Funding?
In the long run, I see Champions as the #1 choice for non-qm mortgage lending options because we’ve earned the trust of our business partners/clients. Our future goals is to be an educational resource and thought leader to help originators earn more income through these products and educate real estate professionals to help their homebuyers understand the financing options out there for them.
In regard to marketing, I see us moving to a more personalized marketing platform that appeals to the client where they are in their client lifecycle stage. Building upon relationship marketing through the use of video, social and direct communications to help educate and inform what we can do to help them.
What would be your advice to budding entrepreneurs who aspire to venture into the marketing sector?
The biggest advice I could give to entrepreneurs is to be intentional with your time. Give yourself a chance to develop and learn your craft. Once you learn a skill, find a way to apply it in business. Choose progress over perfection. Striving for quality is very important but don’t hold up a project or work in spite of it. Understand and appreciate the process and the evolving way your content is created.
There’s no formula that makes a successful marketer. Everyone is on their own journey and has their own path to get to marketing. It is with listening, being curious, learning, and entrenching yourself into the business, people, and the work is where you find connections that you can tailor your marketing around and grow.
One last piece of advice is to stay humble and help others with no intention of receiving anything – as a byproduct of that mantra; good things will happen.
The mortgage industry, a cornerstone of the global financial sector, is continuously evolving to meet the changing needs of homebuyers and lenders. As technology advances, consumer preferences shift, and regulatory landscapes transform, emerging trends are reshaping the way mortgages are originated, processed, and serviced. This article explores the key emerging trends in the mortgage industry that are driving innovation, improving efficiency, and enhancing the overall home financing experience for borrowers and lenders alike.
Digital Transformation : Technology is revolutionizing the mortgage industry, streamlining processes and enhancing efficiency. Digital mortgage platforms, online applications, and automated underwriting systems are becoming increasingly prevalent, simplifying and expediting the loan origination process. Additionally, digital document verification and e-closings are gaining traction, offering convenience and reducing paperwork.
Enhanced Customer Experience : With rising customer expectations, the mortgage industry is focusing on improving the overall borrower experience. Lenders are leveraging technology to provide personalized and intuitive digital interfaces, enabling borrowers to track their loan status, access educational resources, and receive real-time updates. Enhanced customer experience strategies aim to streamline communication, minimize friction, and build trust throughout the mortgage journey.
Data Analytics and Artificial Intelligence (AI): Mortgage lenders are harnessing the power of data analytics and AI to make more informed decisions. Advanced analytics algorithms analyze vast amounts of data, helping lenders assess risk, identify potential fraud, and streamline underwriting processes. AI-powered chatbots and virtual assistants are also being deployed to provide instant customer support, answer queries, and guide borrowers through the mortgage application process.
Expansion of Non-Traditional Lending Models : The mortgage industry is witnessing the emergence of alternative lending models. Non-traditional lenders, such as peer-to-peer platforms and online marketplace lenders, are providing borrowers with additional options beyond traditional banks. These platforms leverage technology and data-driven algorithms to assess borrower creditworthiness, offering more flexible loan terms and quicker access to funds.
Focus on Regulatory Compliance and Risk Management : In an increasingly regulated environment, mortgage lenders are prioritizing compliance and risk management. Stricter lending regulations and data privacy requirements necessitate robust systems and processes to ensure compliance. Lenders are investing in regulatory technology (RegTech) solutions to automate compliance workflows, monitor regulatory changes, and enhance data security.
Sustainable and Green Mortgages : With a growing focus on environmental sustainability, the mortgage industry is embracing sustainable and green mortgages. These mortgages incentivize energy-efficient home improvements or the purchase of eco-friendly properties. Lenders offer discounted rates, reduced fees, or other incentives to borrowers who opt for sustainable options, contributing to a greener housing market.
Expansion of Digital Mortgage Marketplaces : Digital mortgage marketplaces are gaining popularity, providing borrowers with access to multiple lenders and loan options in a single platform. These platforms facilitate transparency, competition, and loan comparison, empowering borrowers to make more informed decisions. Digital mortgage marketplaces simplify the loan shopping process, saving time and effort for borrowers while promoting a competitive lending environment.
Integration of Blockchain Technology : Blockchain technology has the potential to revolutionize the mortgage industry by enhancing security, transparency, and efficiency. Smart contracts built on blockchain platforms can automate and streamline various stages of the mortgage process, including verification, title transfers, and payment settlements, reducing the need for intermediaries and paperwork.
Rise of Alternative Credit Scoring : Traditional credit scoring models heavily rely on credit history, which may exclude certain individuals from accessing mortgage financing. Alternative credit scoring models leverage additional data sources, such as rental payments, utility bills, and bank account transactions, to assess creditworthiness more comprehensively. This allows lenders to extend mortgages to a wider range of borrowers who may have limited credit history but demonstrate financial responsibility.
Robotic Process Automation (RPA): Robotic Process Automation is being deployed in the mortgage industry to automate repetitive and rule-based tasks. RPA technology can handle data entry, document classification, and verification processes, reducing human error and increasing operational efficiency. By automating manual processes, lenders can allocate resources to more complex tasks and improve overall productivity.
Mobile Mortgage Applications: Mobile technology is transforming the mortgage application process, allowing borrowers to complete applications, submit documents, and track progress directly from their smartphones. Mobile mortgage applications offer convenience, accessibility, and real-time updates, enabling borrowers to engage with lenders anytime, anywhere.
As the mortgage industry continues to evolve, embracing these emerging trends can offer lenders a competitive edge, enhance the borrower experience, and drive efficiency throughout the mortgage lifecycle. By staying informed and adapting to these transformative shifts, mortgage professionals can position themselves for success in an ever-changing landscape. By staying attuned to these emerging trends, mortgage lenders can adapt, innovate, and position themselves at the forefront of an evolving industry, ultimately providing borrowers with more efficient, transparent, and customized home financing experiences.
Janna Dawdy , the Owner and Mortgage Broker , started her journey in the financial industry 25 years ago. She is now a thriving entrepreneur, a devoted wife, and a proud mother of five. Having experienced the emotional challenges that come with unexpected new beginnings, she is committed to providing clients with an exceptional experience to alleviate stress and minimize the financial burden of change. Janna is passionate about delivering the best possible service to her clients.
Janna’s passion for business was ignited several years ago, prompting her journey as a Mortgage Broker and Entrepreneur. From a young age, she had a penchant for entrepreneurship, even selling Avon at the tender age of 13. As she grew older, she continued to explore various business ventures, always striving to do more. It wasn't until she landed a high school co-op position at a bank that Janna discovered her love for mortgages. The process of working with numbers, problem-solving, and helping individuals improve their financial situations resonated deeply with her.
Now, as the sole Mortgage Broker of her company, JCMortgages.ca , Janna faces the challenge of maintaining a high standard of service while keeping up with the evolving industry. She is committed to providing the best possible experience to every client who crosses her path. As such, she has had to adapt and make significant operational changes to ensure that this goal is achieved.
JCMortgages.ca's mission and vision are founded on Janna's slogan, "Your Mortgage Agent for Life!" This simple yet powerful message is at the heart of
everything they do, from the way they interact with clients to the level of service they provide. Their goal is not just to facilitate a transaction but to build a longterm relationship with each and every client.
To achieve this, Janna and her team go above and beyond to make sure their clients feel valued and appreciated. They understand that exceptional service is just the beginning and that creating a positive and memorable experience is what truly sets them apart. As such, JCMortgages.ca places a strong emphasis on client appreciation and events, creating opportunities to connect with clients and show them how much they are appreciated.
Ultimately, JCMortgages.ca’s focus on building lifelong relationships with its clients is a testament to its commitment to providing exceptional service and creating a positive impact in the lives of those they serve.
Janna's years of experience in the industry have taught her the value of word of mouth and client retention. This is where she excels, and it's her niche. While JCMortgages.ca uses traditional marketing strategies to build awareness and credibility among their target markets, the majority of their marketing budget is devoted to client appreciation. She believes that leaving clients feeling completely satisfied with their mortgage experience, and showing them that they are genuinely cared for, is the key to building lifelong relationships. This, in turn, leads to powerful word-of-mouth referrals that can be trusted to come naturally when clients are treated with openness and generosity.
In recent years, Janna has expanded her marketing efforts by committing herself fully to social media, specifically short-form video content. She uses a variety of approaches, from lip-syncing to funny trends to providing insightful and helpful information and even teaming up with other professionals. This approach has proven effective in reaching new audiences while staying top-of-mind for existing ones.
Janna firmly believes that workplace culture is deeply ingrained in a business when it is led by example. She has always kept her administrative team small, and through hard work, enjoyment, and making a difference, they have fostered a strong and positive culture within the company.
For Janna, it's not just about the work itself but also the relationships that are built along the way. When a team truly enjoys each other's company and what they do, great things naturally follow. As a result, Janna's team is not only highly effective and productive but also happy and fulfilled in their work.
Janna's business has evolved over the past fifteen years. She used to maintain her clients' files and information in physical form, but now they are securely stored in CRMs. In the early days of her business, Janna used to travel to meet clients for appointments, but now she can sign documents virtually from her office.
According to Janna, there are numerous technological tools available to businesses, but it is essential to invest in the ones that align with their specific needs and business model. These tools should make operations more efficient and life easier rather than adding complexity. It is crucial to periodically review what is working and what needs improvement and implement appropriate tools to manage the team and work the book of business effectively.
Janna has noticed a change in the way leads are generated and how they transition from cold to warm. Initially, she used social media marketing to stay relevant in the dynamic industry and keep existing clients engaged. However, Janna has observed a shift in
the way referral partners are finding her business through social media channels and referring new customers. She intends to continue on this path and transform the way professionals in her industry network and collaborate. Janna believes that as clients increasingly rely on online platforms for education and discovery, there are infinite opportunities to reach out to new audiences and create engaging content.
Mortgage brokers, being service providers, have been slow to embrace social media marketing as they don't see the same immediate return on investment as product-based companies. However, Janna believes that as social media platforms improve their searchbased discovery features, more and more mortgage brokers will adopt SEO strategies while creating social media content. Janna predicts that in the future, the mortgage industry will also experience the impact of AI and automation trends, especially in areas such as document management and collection.
As Janna moves forward with JCMortgages.ca, her primary objective is to optimize processes and systems for maximum efficiency. In the upcoming year, she intends to create a sustainable model that aligns with the company's vision and mission while streamlining operations.
Janna's advice to aspiring entrepreneurs and new Mortgage Agents is to trust their instincts and take the plunge. Although their life and career may not follow the expected path, it is essential to stay optimistic and remember that they possess immense potential. In the mortgage industry, there are countless opportunities, and success is limitless. It is crucial to adapt to changes and remain open to new ideas. Ultimately, success will be found where their passion lies.
As Janna moves forward with JCMortgages.ca, her primary objective is to optimize processes and systems for maximum e ciency.
In today's rapidly evolving and complex business landscape, transformative leaders are essential for organizations to thrive. These exceptional individuals possess a unique set of traits that enable them to inspire, empower, and drive positive change within their teams and organizations. By understanding and embodying these transformative leadership traits, individuals can elevate their leadership capabilities and make a lasting impact on their teams and the broader organizational culture. This article explores the key traits of transformative leaders and their significance in fostering innovation, growth, and success.
Visionary Thinking:
Transformative leaders possess a clear and compelling vision of the future. They have the ability to envision possibilities, articulate a shared purpose, and inspire others to align their efforts towards a common goal. By effectively communicating their vision, these leaders ignite enthusiasm and motivation within their teams, instilling a sense of purpose and direction.
Emotional Intelligence:
Emotional intelligence is a critical trait of transformative leaders. They possess a high level of self-awareness, empathy, and social skills, enabling them to connect with others on a deeper level.
Transformative leaders understand and manage their own emotions while also recognizing and responding to the emotions of others. This empathetic approach fosters trust, collaboration, and a supportive work environment.
Authenticity:
Authenticity is a cornerstone trait of transformative leaders. They stay true to their values, beliefs, and principles, which engenders trust and credibility among their team members. By leading with integrity and transparency, these leaders create an environment where open communication, innovation, and continuous learning can thrive.
Courage and Risk-Taking:
Transformative leaders are not afraid to take calculated risks and challenge the status quo. They embrace ambiguity and uncertainty, viewing challenges as opportunities for growth and innovation. These leaders encourage their teams to step out of their comfort zones, experiment, and learn from failures. Their willingness to take risks inspires creativity and resilience within the organization.
Continuous Learning:
Transformative leaders have a thirst for knowledge and a commitment to personal and professional growth. They actively seek out new ideas, perspectives, and insights, staying informed about industry trends and emerging technologies. By fostering a culture of continuous learning, these leaders inspire their teams to embrace change, adapt quickly, and stay ahead in a rapidly evolving business environment.
Empowerment and Delegation:
Transformative leaders empower their team members by delegating authority and fostering a culture of accountability. They recognize and develop the strengths of individuals, providing them with autonomy and ownership over their work. This empowerment creates a sense of ownership,
promotes innovation, and allows the leader to focus on strategic initiatives.
Collaboration and Inclusion:
Transformative leaders understand the value of diverse perspectives and actively promote collaboration and inclusion within their teams. They create an environment where individuals feel valued, respected, and encouraged to contribute their unique ideas and talents. By fostering a culture of inclusivity, these leaders unleash the full potential of their teams, resulting in more innovative and effective solutions.
Resilience:
Transformative leaders possess a high level of resilience and perseverance in the face of adversity. They maintain a positive outlook, adapt to change, and inspire their teams to overcome challenges. Their ability to navigate uncertainty and setbacks with grace and determination creates a resilient organizational culture that can weather storms and bounce back stronger.
Adaptability and Flexibility:
Transformative leaders embrace change and are adaptable in dynamic environments. They are open to new ideas, perspectives, and approaches, and encourage their teams to embrace change with agility. Their ability to pivot, adjust strategies, and navigate uncertainties enables them to lead their organizations through various challenges and seize opportunities.
Empathy and Compassion:
Transformative leaders demonstrate genuine care for their team members' well-being and success. They actively listen, understand, and empathize with the challenges and concerns of others. By fostering a supportive and inclusive environment, these leaders build strong relationships, promote collaboration, and foster a sense of belonging.
Strong Communication Skills:
Effective communication is a hallmark of transformative leaders. They articulate their vision
clearly, provide feedback constructively, and encourage open and transparent dialogue within the organization. Through their communication skills, they build trust, inspire engagement, and align their teams towards shared goals.
Strategic Thinking:
Transformative leaders possess a strategic mindset. They can assess complex situations, anticipate trends, and make informed decisions that align with long-term organizational objectives. By thinking critically and strategically, these leaders guide their teams towards sustainable growth and competitive advantage.
Servant Leadership:
Transformative leaders embody the principles of servant leadership, prioritizing the needs and growth of their team members. They empower others, foster a collaborative and supportive environment, and remove barriers that hinder success. By focusing on the development and well-being of their teams, these leaders cultivate a culture of excellence and high performance.
Transformative leaders possess a distinct set of traits that enable them to navigate complex business landscapes, inspire change, and drive success. By cultivating visionary thinking, emotional intelligence, authenticity, courage, and a commitment to continuous learning, leaders can unlock their transformative potential and make a profound impact on their teams and organizations.
These leaders empower others, foster collaboration, and create a culture of innovation and resilience. By embodying these transformative leadership traits transformative leaders can create a positive and inclusive work environment, drive innovation, and empower their teams to achieve remarkable results.
Leadership is not something that can be left to
chance. Teams and organizations are successful because of the people holding the reins as well as people at the forefront, delivering value. But, with the various types of leadership styles that one can employ such as autocratic, laissez-faire, bureaucratic et cetera, which leadership model is best to use? There is no one size fits all approach in leadership. Leaders must often tailor their leadership style to specific people and scenarios and may require a combination of various styles.
In this article, much scrutiny will be on transformational leadership and how technology is impacting leadership. cio.com cites that “the transformational leadership approach encourages, inspires, and motivates employees to innovate and create the change necessary to shape the future success of the company. Transformational leaders inspire and motivate their workforce, and transformational leadership is designed to give employees more room to be creative, look to the future, and find new solutions to old problems”. From this description, I would like to dwell on three concepts, inspiration, motivation, and change.
A leader needs to consistently strive to help people see the vision and what their part in achieving it is. This will inspire people to do more and to think outside the box. Leading by example here is very important because to be an inspiration you need to appeal to people in some way – strong values, work ethic, or your passion to help others grow among other qualities.
The idea of inspiration links directly with the concept of motivation, specifically intrinsic motivation. While we
are very quickly motivated by external factors, such as recognition and reward, the satisfaction from these just as quickly falls away. Don’t get me wrong, I love branded corporate gifts and all as a way of appreciation, but the intrinsic motivation that can come from a sense of belonging, autonomy, being a part of the solution, and consequently the bigger picture is often more sustainable. Hence as leaders, we need to deliver a vision and do it so well that people will want to see it through. We need to listen, encourage innovation and create safe working environments where people can challenge without fear.
Encouraging and managing change is hard. It is very easy to settle in the comfort of the known, and the ability to help people recognize the need for change, to have them actively take part in driving change and embrace it, is a necessary skill to have as a leader. Leading change warrants the leader to help people see the bigger picture, and why it is important because without this, resistance will surface, and it is often one of the main reasons why change efforts fail. Resistance often arises when it is not clear how the change will affect people and therefore it is crucial to communicate this clearly from the get-go.
Of course, transformational leadership may seem to apply in an ideal world, where people are inspired, motivated, and innovative. This may lead to burnout as people strive to take an active part in initiatives. As leaders, we need to recognize this and encourage downtime when necessary and have people recharge so that their contributions are impactful.
Setsoto Hlohlomi is a techie, an aspiring writer, and a leader. Excited by how technology can transform business and be used as an enabler for success, her passion also lies in continually honing and utilizing her skills to help others grow
With all these and a diverse world where ways of working are changing, in a world where technology is transforming how we live, how is this affecting how we lead? Such a digitized world demands embracing change, from attaining the skill set required to the tools at our disposal. It has had a significant impact on leadership. Commuting to the office and daily in-person interactions have been part of the traditional way of working for so long. But the recent advances in technology, as well as the COVID-19 pandemic have forced us to interrogate our ways of working and what is possible.
As a leader in the technology field, I have learned that people can deliver work outputs without being confined to a single location every day of the week. However, other people and roles are less able to successfully deliver work outputs in this environment as I have seen from my IT support background. It has shown us that people can be accountable and in control of their work and that others continually need guidance.
We have learned to be more considerate because now, with people working remotely, and us communicating via text and phone calls, it has taken away the personal interactions where cues were easier to pick up – seeing when someone is unwell or extremely swamped as we would if we were in the same room. The tone of voice is easy to misinterpret without the corresponding facial expressions and we are required to be more careful when communicating. It is easier for teams to knowledge share as people can easily walk to each other’s desks and hear meaningful discussions in the office. It solicits patience due to the lack of visibility, and the same lack of visibility can lead to micromanagement and stringent control over employees, we need to be careful.
A chunk of being a leader involves making decisions and ensuring that their execution is well done. In this digital era, we have better access to information to provide insights and aid better decision-making. We have access to more tools to help us and our teams work more effectively. Of course, these benefits do not come with negatives such as increased cyber threats. Our job as leaders is also to help our employees recognize the need for change when it becomes necessary, to help them acquire the necessary skills and support to grow and thrive in this era and this just beautifully goes hand in hand with transformational leadership.
In summary, being transformational leaders is one of the cards we need up our sleeves and in this era of technology, we need to be able to inspire the workforce to embrace change and actively take part in it and to keep them motivated to deliver. Especially in a world that continues to evolve due to technological advancements.
