In Episode 025 of the Scotsman Guide Author Showcase, Carl White interviews Joseph M. Miller of Partner Valuation Advisors about his article, “Retail is Proving Resilient,” in the December 2023 issue of Scotsman Guide Commercial Edition.

Joseph M. Miller is a managing director at Partner Valuation Advisors and serves as national practice lead of the company’s retail valuation practice. He has more than a decade of experience and has appraised some of the most prominent commercial properties in the U.S. He was named a Retail Influencer by GlobeSt.com and is sought out as a top valuation expert.

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In Episode 024 of the Scotsman Guide Author Showcase, Carl White interviews Rich Leffler of AxSellerated Development about his article, “Build a One-Stop Shop,” in the December 2023 issue of Scotsman Guide Residential Edition.

Rich Leffler is the director of training/senior instructor for AxSellerated Development, which offers guidance that you need to pass the Nationwide Mortgage Licensing System (NMLS) test. An award-winning mortgage expert, business coach, and speaker, Leffler has excelled in customer service, research, mortgage origination, training and consulting. He regularly lectures on compliance, sales and winning customer-service strategies, and is available for in-house training, speaking engagements, tutoring, personal coaching, and seminars.

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In Episode 023 of the Scotsman Guide Author Showcase, Carl White interviews Rebecca Richardson of Kind Lending about her article, “Path of Progress,” in the December 2023 issue of Scotsman Guide Residential Edition.

Rebecca Richardson is a Charlotte-based originator for Kind Lending. She is popularly known as “The Mortgage Mentor” and is a seasoned loan officer with 20-plus years of experience. She has a strong passion for helping individuals achieve their dreams of homeownership. As a social media influencer and industry thought leader, Richardson uses her platform to educate and empower others.

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In Episode 022 of the Scotsman Guide Author Showcase, Carl White interviews Chris de la Motte of Sonar about his article, “AI Is Already Shaping the Industry’s Future,” in the November 2023 issue of Scotsman Guide Residential Edition.

Chris de la Motte is CEO and co-founder of Sonar, the groundbreaking mortgage experience platform celebrated for revolutionizing the digital mortgage landscape. Backed by FirstMark and Liberty Mutual, Sonar is an integrated loan origination, point of sale software, product pricing engine and customer relationship management platform, powering the entire mortgage journey from application to closing. Prior to Sonar, de la Motte was president of Simplist, one of the fastest- growing digital mortgage companies. Visit Sonar at yoursonar.com.

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In Episode 021 of the Scotsman Guide Author Showcase, Carl White interviews Brian Decker of Modern Lending about his article, “Take the Jolt Out of Power Bills,” in the November 2023 issue of Scotsman Guide Residential Edition.

Brian Decker is CEO of Modern Lending, a mortgage bank operating in 15 states with locations in California, Tennessee and Arizona. In 2022, Decker stepped into a full-time role as CEO of Modern Lending. That same year, he also founded Soar Energy with HGTV stars Tarek and Heather El Moussa, as well as United Wholesale Lending CEO Shelby Elias.

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In Episode 020 of the Scotsman Guide Author Showcase, Carl White interviews Tom Davis of Deephaven Mortgage about his article, “Invest in Your Future” in the October 2023 issue of Scotsman Guide Residential Edition.

Tom Davis is chief sales officer of non-QM lender Deephaven Mortgage. He joined Deephaven in 2022 and has more than 20 years of experience helping lending partners with their non-QM and agency needs. He holds a bachelor’s degree from Florida Atlantic University, where he double majored in finance and management. Deephaven was founded in 2012 and led the formation and development of the non-QM market. 

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In Episode 019 of the Scotsman Guide Author Showcase, Carl White interviews Ryan Walsh of Hard Money Bankers about his article, “Find Ways to Adapt” in the October 2023 issue of Scotsman Guide Commercial Edition.

Ryan Walsh is a managing partner at the Greater New York City-based Hard Money Bankers and is an entrepreneur of multiple successful companies. He originally used private money to expand his own enterprise, then realized the importance of private money for growing businesses more quickly and easily.

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In Episode 018 of the Scotsman Guide Author Showcase, Carl White interviews Joseph Lydon of LendSure Mortgage Corp. about his article, “Capture Attention by Doing What Others Can’t,” in the October 2023 issue of Scotsman Guide Residential Edition.

Joseph Lydon is co-founder and managing director at LendSure Mortgage Corp. He has spent more than three decades in the mortgage industry, including serving as president and chief operating officer at Accredited Home Lenders from 1997 to 2008. He also has worked at Ford Consumer Finance and Security Pacific Financial Services. Lydon earned a bachelor’s degree in management from Pepperdine University and a master’s degree from the University of San Diego.

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In Episode 017 of the Scotsman Guide Author Showcase, Carl White interviews Brian Vieaux of FinLocker about his article, “The Big Bad Wolf,” in the October 2023 issue of Scotsman Guide Residential Edition.

Brian Vieaux is president and chief operating officer of FinLocker. He is passionate about financial literacy and empowering lenders with digital financial tools to attract, engage and retain clients. His 28-year executive career in mortgage banking and extensive experience in building business channels have positioned him to help mortgage lenders execute an embedded finance strategy, transitioning from a transaction focus to one of continuous engagement.

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One way to do that is something called ICE, an acronym that stands for impact, certainty and ease ― a trio that will guide your future moves. When working in an industry that’s as competitive and dynamic as mortgage lending, every strategy should be guided by these three pillars: the expected impact, the degree of certainty that positive results will materialize, and the ease of implementation for you or somebody on your team.

“The smallest businesses — forced to do what it takes to survive and unburdened by the expectations of stakeholders or large investors — are being forced to get creative.”

Rank each strategy on a scale of 1 to 10 with the top number having the greatest impact, highest certainty or easiest path to implementation. Each strategy must rank 8 or higher on each of the ICE categories before it gets a green light to move forward.

Potential effect

First up, let’s discuss impact. This is the potential effect a given strategy will have on your ability to secure more loans.

For instance, if you are deciding whether to design a logo or change your company letterhead, are either one of these something that is likely to greatly impact the number of referred leads you’ll receive? Most likely, there will be little to no impact. If the expected impact of the strategy is less than 8, it’s time to move on and seek another avenue.

By comparison, calling on your past database will — with 100% certainty — help you close not just a few more loans but a lot more. So, implementing this strategy would score a solid 10 for having the greatest possible positive impact.

The key to quantifying impact is to understand your goals and the various routes to achieving them. Not every strategy will suit every team. Keep an eye on emerging trends, be flexible and don’t be afraid to embrace innovative thinking.

Proven record

The second component, certainty, is all about confidence. How confident are you that the predicted impact will indeed come to fruition?

Ensure that you’re using data-driven insights to increase your certainty. Back your strategies with extensive market research, past experiences and expert advice. Gauge the success rates of similar strategies adopted by others in the industry.

With marketing campaigns, for instance, mortgage originators who call real estate agents on a 12-week basis generally get great results. Check around with industry peers. If they’ve done it successfully, you’ll know that the certainty is almost assuredly a 10.

Conversely, if it’s a new idea that has yet to be reliably proven, avoid it, even if it sounds great. There are many proven methods with a high degree of certainty on which to focus.

Manageable task

The final ingredient in the recipe for success is ease. How easy is it for you or your team to execute the chosen strategy? The best strategies are often the simplest. Complicated plans can lead to confusion, mistakes and wasted money. Again, if your strategy doesn’t score at least 8 on the easiness scale, it’s time to rethink it.

Keep in mind that easy does not mean effortless. It simply implies that the strategy is manageable and within the capacity of yourself or your team. Consider the skills, resources and time required. If a strategy requires more advanced skills, invest in training. If it needs more resources than your staff can handle, consider hiring. Remember, if the solution seems too complex, it probably is. Your strategies should streamline your workflow, not hinder it.

“It makes a lot of sense, then, to forecast that the next wave of success stories in the mortgage industry will involve those who develop, improve or deploy innovative technologies and business models.”

Now you have your strategy. But remember, it’s not enough to merely consider these factors. They need to guide every decision you make. With every strategy that scores 8 or higher in each of the ICE categories, you’re ensuring a higher success rate, minimizing risks and fostering a culture of strategic thinking.

Accurate measurement

Say that you’re considering hosting a webinar to engage potential referral partners. The impact could be substantial as it has the potential to reach a wider audience than traditional face-to-face meetings (impact: 9). But your team hasn’t conducted a webinar before, making the outcome less predictable (certainty: 7). Moreover, preparing for a webinar requires significant time and technical expertise (ease: 6).

While the strategy has high impact, the lower levels of certainty and ease make it a less-than-ideal choice, according to this framework. Instead, you might want to consider starting with a local seminar or investing in webinar training for your team to raise the levels of certainty and ease. But if you’ve done Zoom webinars before, this same strategy could score 9 for both impact and certainty and 10 for ease. That’s a green light — go for it.

Don’t let initial setbacks deter you. The ICE framework is designed to minimize potential failures and enhance your overall productivity. By taking the time to accurately score your strategies, you’re not only refining your current plans but also honing your strategic skills for the future.

Furthermore, this isn’t a one-time solution. As the mortgage industry continues to evolve, so should your strategies. Regularly review your plans and rescore them. What may have been a high-impact, high-certainty and easy-to-do strategy six months ago might not hold the same value today. The market shifts, new technologies emerge and team capabilities change — and so should your strategies.

And crucially, make the scoring model a collective effort. Engage your team in the process. This will not only provide diverse insights, but it will encourage your colleagues to think strategically. Teams that understand the logic behind a strategy are more likely to execute it effectively.

Lastly, remember to celebrate the wins and learn from the losses. Not every strategy will result in a jackpot. Each one will certainly provide lessons to improve your scoring abilities, making you a more efficient strategist and a savvier loan officer.

● ● ●

In an industry where standing out is crucial, this framework offers a clear pathway to strategic excellence. By focusing on the impact, certainty and ease of each strategy, you’re setting yourself up for success.

Remember, the essence of this framework isn’t merely about assessing strategies. It’s about building a culture of strategic thinking and making informed decisions that bring out the best in you and your team. So, keep ICE at the core of your operations and see the difference for yourself. ●

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