Model-Match Assessment for Maximum Mutual Return
|Model [ mÓdd'l ] – an excellent example that deserves to be imitated|
Match [ mach ] – something that combines well with something else
Hammerhouse, LLC has pioneered the process of model-matching within the mortgage industry to improve the performance of both organizations and individuals. We believe that only through a detailed process of discovery can a truly powerful, dynamic and successful partnership develop and flourish between mortgage companies and mortgage talent. How can you, as a talented mortgage professional, utilize the model-match philosophy to better your career? It begins by performing a self-assessment of your current situation – model-matching yourself with your current employer to find core business components that are positive-matched, neutral-matched or negative-matched. Let's explore this further.
We have identified six areas of the mortgage business in which it is critical to achieve a positive model-match for maximum mutual return:
|Core Business Components
For high-achieving organizations and professionals it is vital that engagement between managers and producers be conducted in a clear, concise and consistent way. The study of leadership clearly demonstrates that talent (producers and other creative employees) appreciate clarity of vision, a voice in, and an impact on the business processes and freedom to reasonably adapt to their unique circumstances or style. Where this environment exists, organizational and individual goals are achieved and morale is high.
Closely related to leadership and directly impacted by it, culture refers to the broader environment in which the work takes place. Model-matching culture means assessing the alignment of the values of the organization with your values. Values comprise a wide range of factors including, 1) Compensation, Benefits and Recognition, 2) Development and Growth, 3) Job Characteristics, 4) Organizational Character and Reputation, and 5) Relationships. Mortgage organizations and individuals sharing a culture-match will thrive.
Matching your business source and type with the priorities and capabilities of the lending organization is essential for mutual success. Questions that must be answered include: Does the lender currently support substantial business from the same sources (realtors, builders, financial advisors, online/social media) in which I develop business? Is the lender's mix of loan types (purchase/refinance, FHA/GSE, Conforming/Non-Conforming similar to my own? Do the future business development priorities of the lender match my own? When companies and their producers share similar experiences and future goals it is a sign of a good potential model-match.
The operational platform of a mortgage company has one job to do – close loans efficiently. It is the "how" they do this that differentiates one company from another and determines whether or not they are well-matched to your business. Are their operations centralized or decentralized – and do you have a preference based on your experience? Do they consistently close loans on time? Do they meet or exceed industry service standards? Is their loan pricing consistent and competitive? There can be no room for error here – your reputation is on the line each and every time you take a loan application.
Technology affects four core areas of the mortgage business: origination, operations, marketing and business development. Data collection and management is at the very heart of what mortgage lenders do for their clients both external and internal. Does your current employer have technology that is current, effective, user-friendly and integrated? Are technology advisors and trainers available to you as needed? Nothing will impact your bottom-line more significantly than the answers to these questions.
Outside of the few truly nationwide banks, most lenders today are focusing their efforts and their business development on certain communities or regions of the country. Does your market fit within the geographical target of your current employer?
To further assist you in assessing the current level of model-match with your employer we are making available to you a basic version of our comprehensive Model-Match Assessment
. This scaled-down version of a tool we use with our candidate clients is a beneficial first step to determining the level of model-match you are currently experiencing with your employer.