The quest to become a better leader never ends. Those who want to be at the top of their game will never stop improving. We often think of leaders as the people who teach us and serve as a model for us to follow. But the best leaders will themselves seek out teachers and models by which to live their lives and improve their work.Click to continue
I speak and write a lot about the "softer" side of leadership—developing the right characteristics and attitudes that make you a better leader in the mortgage industry. And, as I shift more of my focus into coaching, I'm seeing the development of these traits in leadership become more and more important in determining the success of the company.Click to continue
We typically see conflict as a bad thing. When employees are fighting with one another, whether it's about a personal disagreement or something to do with their work, it can be quite an obstacle. Productivity declines and, more important, the organizational culture can suffer dramatically. Of course, we don't want our people to be fighting. There's no question about that.Click to continue
I spend a lot of time thinking and studying about what makes people successful. My very livelihood centers around how mortgage leaders can steer their companies toward success, so it's a very important issue to me. Much of what I've written about focuses on the traits and characteristics of leaders. For this article, I would like to focus on one important behavior for successful leadership.Click to continue
When we think of education in the mortgage industry, we often think of internal education. That is, we think of providing education for our employees so that they may better serve our customers. We place a great deal of importance on getting the appropriate certifications and qualifications for those in our company. But that isn't the only education that matters ...Click to continue
I am a big fan of being approachable as a leader. If employees have questions they need answer, they should feel free to ask you directly. Having an open door for your employees can minimize the risk of them making poor decisions.Click to continue
“What makes a great leader in the mortgage industry?” This question came up during a dinner I shared recently with one of my industry peers.Click to continue
There is one quality in a leader that doesn't tend to get a lot of attention. I have spoken a lot about the importance of integrity, the importance of conviction, the importance of education, and so on. But if there is one quality in a leader that can increase effectiveness in dealing with employees more than any other, it is approachability.Click to continue
More than ever in our industry, we need to be careful that our compensation structures are meeting the most current regulations. In many industries, compensation isn't a regulatory issue. It's merely a component of motivating the workforce. In the mortgage industry, however, we've got much more to worry about.
Allowing LOs to share in the profits. Pooling compensation with each LO having different rates and fees. Paying higher commissions to LOs who bring in more revenue. These are all seemingly innocent activities that could get lenders into a lot of trouble.Click to continue
If there is one critical trait that is often overlooked in leadership, it is the ability to effectively communicate. When hiring leaders for our organizations, we often focus on the business end of things. How will the leaders move the company forward?
The reality is, however, that organizations are made up people. If the leader you bring in cannot move the people forward, he or she will not be able to move the business forward. And, in order to move people, the leader must be able to communicate.Click to continue