In this insightful episode of The MikedUp Show, we sit down with James Hooper, Senior Vice President and Production Manager with extensive experience in the financial and mortgage banking industries. James brings decades of leadership, expertise, and wisdom to the table, having started his career as a retail loan officer and growing into executive roles at top-tier banks and mortgage companies. His journey, from building and rebuilding mortgage companies to managing large-scale sales operations, showcases a deep understanding of the evolving mortgage landscape.

As we dive into the episode, James unpacks the challenges, opportunities, and the core beliefs that have helped him drive success across various markets. We discuss the significance of keeping a pulse on market changes, nurturing customer relationships, and the importance of leadership in guiding organizations through good times and bad.

James offers valuable insights into the importance of understanding niche mortgage products and services in today’s competitive market. He emphasizes the necessity of learning and mastering unique offerings, like the ones provided by Quantic Bank, that enable originators to assist more borrowers, especially self-employed individuals who often face challenges with traditional loan products. His analogy of "icebergs" symbolizes the often unseen complexities beneath the surface of mortgage products, such as debt coverage ratio (DCR) loans and bank statement loans, that can make or break an originator's ability to help clients.

In this episode, James discusses how changes in the lending space, once thought outdated, are making a comeback, and how these developments are reshaping the mortgage industry's future. He stresses that originators who take the time to educate themselves on these products will not only stand out but also be better equipped to serve their clients, offering them tailored solutions in an increasingly competitive market.

Moreover, we explore the competitive landscape for mortgage products today. With James's vast experience in business development, we discuss the resurgence of certain loan products like bank statement loans, as more originators and borrowers turn to alternative methods of proving income. This is particularly relevant for self-employed borrowers, a market that continues to grow and present opportunities for originators who can master portfolio lending products.

One of the key takeaways James shares is the idea of building relationships within the community. Through consistent outreach—whether through podcasts, seminars, or partnerships with real estate agents—loan officers can differentiate themselves and bring real value to their local markets. He explains how, in many cases, real estate agents may not even be aware of the full spectrum of mortgage products available, which opens up a huge opportunity for informed originators to educate and provide unique solutions to their clients.

James also touches on the current state of the housing market. With inventory slowly increasing and interest rates starting to stabilize, more borrowers are poised to re-enter the market, creating new opportunities for both homeownership and refinancing. James emphasizes that these changes provide fertile ground for originators to connect with clients who have been waiting on the sidelines, highlighting cash-out refinance options as a key avenue for borrowers looking to tap into their home equity.

Throughout the episode, we also touch on the recent National Association of Realtors (NAR) settlement and what it means for the industry. As James discusses, there is significant disruption happening in the real estate space, and now more than ever, mortgage professionals must stay informed and adapt to new market conditions. His advice to originators is clear: take the time to learn about new and emerging products, leverage relationships within the community, and remain adaptable...

In this insightful episode of The MikedUp Show, we sit down with Bill Lowman, the current Chairman and former CEO of American Pacific Mortgage (APM), to delve deep into the art of leadership, scaling a business, and fostering a culture that thrives even in the most competitive industries. With over two decades of experience at APM, Bill has been at the helm of one of the country’s largest independent mortgage banks, guiding it through unprecedented growth, industry shifts, and internal transformations. Throughout this episode, Bill shares his leadership journey, offering listeners a rare look into the strategic vision that has driven APM to achieve milestones, such as a record-breaking $22+ billion in funding and the successful transition to an Employee Stock Ownership Plan (ESOP).

Bill's story is one of passion, perseverance, and a relentless focus on the fundamentals, and it's evident that his approach to leadership is what sets him apart. He talks about the principles that have shaped his career and led to APM's success, most notably the "Billisms"—three core philosophies that have guided his decision-making and leadership style over the years. The first, which he shares in this episode, is a piece of wisdom passed down from Angelo Mozilo, the former CEO of Countrywide Financial: “As a leader, don’t be transactional; be transformational.” Bill expands on this idea, explaining how transformational leadership fosters long-term success, encourages a strong organizational culture, and allows leaders to inspire and uplift their teams beyond the day-to-day tasks. It's this forward-thinking approach that has helped Bill steer APM through market fluctuations and industry changes while ensuring the company remains rooted in its core values.

Listeners will learn about the other two "Billisms" that Bill applies in his leadership, teasing out lessons that are applicable to leaders across industries. He emphasizes the importance of surrounding yourself with the right people and discusses his hiring philosophy, which is rooted in a simple yet powerful observation: how often someone uses "we" versus "I" during an interview. For Bill, a candidate's ability to focus on teamwork, collective success, and collaboration speaks volumes about their potential fit within APM’s culture, where every employee is treated as a crucial piece of the larger puzzle. This focus on “we” over “I” is not just a hiring tactic but a foundational element of how Bill has built a company culture that values teamwork, mutual respect, and shared success.

Throughout the conversation, Bill also discusses the evolution of APM under his leadership, from its early days in Buffalo to its current position as a national powerhouse licensed in 49 states and the District of Columbia. He offers listeners a candid look at the challenges and opportunities that come with leading such a large organization and explains how he has balanced strategic growth with operational efficiency. His emphasis on sticking to the fundamentals, even as technology evolves and market conditions change, is a key takeaway for anyone looking to build a lasting business. In Bill’s view, while innovation is crucial, it’s the basics—sound leadership, financial discipline, and a strong team—that ultimately drive success.

One of the most interesting aspects of this episode is Bill’s discussion of the ESOP at APM, a unique initiative that has given employees a stake in the company’s success. Bill explains how the ESOP has not only created an economic driver for employees but also fostered a sense of ownership, responsibility, and engagement throughout the organization. By aligning the interests of the company with those of its employees, Bill has created a win-win scenario that has paid off in terms of both morale and performance. This is a critical lesson for leaders in any industry: by giving employees a stake in the company's success, you create a culture where peopl...

This week’s episode of The MikedUp Show is a special live recording from the New England Mortgage Bankers Conference, held from September 11-13, 2024, in Portsmouth, NH. Hosts Mike Kelleher and Michael Zau are joined by an impressive panel of industry leaders to discuss the most pressing challenges and opportunities in the mortgage space today. Featuring Rick Roque from RealTalk Fridays, Jeremy Potter from Next Belt Strategies, Brock Cassidy from NewZip, and Brian Vieaux from FinLocker, this episode offers a wealth of insights for anyone navigating the ever-evolving landscape of the mortgage industry.

The panel kicks off by diving into the vibrant atmosphere of the New England Mortgage Bankers Conference, reflecting on the key themes and discussions that have been shaping the event. Rick Roque, newly on board with NFM Lending, shares his personal experience with building a brand within the mortgage industry, particularly the unique hurdles and rewards of making a high-profile career move in today’s environment. He offers valuable insights into how loan officers and independent mortgage bankers (IMBs) can carve out their space, especially as competition increases and the market continues to shift.

Jeremy Potter from Next Belt Strategies follows up with an in-depth exploration of how lenders and financial institutions can better position themselves for success. He covers everything from consumer expectations to the technological advancements that are reshaping the way business is conducted in the mortgage sector. His expertise in market strategy provides listeners with actionable tips on how to stay ahead of industry trends, embrace innovation, and tackle the regulatory challenges that can often impede progress.

Brock Cassidy from NewZip offers a fresh perspective on how technology is transforming the homebuying experience. From digital closings to innovative data solutions, Brock emphasizes the importance of embracing new tools and platforms to streamline processes, enhance customer experience, and ultimately drive business growth. His segment provides practical advice for mortgage professionals looking to leverage tech-driven strategies to stay competitive in a fast-moving industry.

Brian Vieaux from FinLocker brings a wealth of knowledge about financial wellness and how tools like FinLocker are empowering consumers to take control of their financial journeys. He explains how financial literacy and personal finance management tools are becoming crucial in helping potential homeowners achieve their goals. In a market where affordability continues to be a major issue, Brian’s insights highlight the importance of educating consumers and equipping them with the right tools to successfully navigate the homebuying process. His focus on financial empowerment offers a compelling narrative on how loan officers can add value beyond just processing loans, by becoming trusted advisors to their clients.

Throughout the episode, the panelists engage in a lively discussion about the future of the housing industry, with a particular emphasis on the importance of branding in today’s competitive market. Whether you’re an experienced mortgage professional or new to the field, this episode provides essential strategies for personal and business branding that can help set you apart in a crowded marketplace. The conversation also touches on broader industry trends, such as regulatory changes, housing affordability, and the impact of economic shifts on lending practices.

From start to finish, this episode is packed with expert advice, real-world examples, and forward-thinking strategies. As the mortgage landscape continues to evolve, this conversation is more relevant than ever for anyone involved in real estate finance, lending, and homeownership. Whether you’re focused on personal branding, market positioning, or technological innovation, this episode offers a comprehensive look at the tools, strategies...