Kickstart Your Week ~ Own Your Loan
Quick recap
The team discussed the importance of staying hydrated and maintaining emotional control, with a focus on effective communication and active listening in client interactions. They also shared personal experiences and growth stories, emphasizing the value of self-awareness, accountability, and taking responsibility for one's actions. Lastly, they explored the use of AI tools like ChatGPT to manage difficult communications and encouraged the team to share their AI success stories in future meetings.
Next steps
All attendees to share their success stories of using ChatGPT in their communications next week via chat or by emailing Kathy, Nino, or Michael
That's the only explicit action item mentioned in the meeting. The rest of the discussion was focused on sharing experiences, best practices, and insights about emotional control, communication, and customer service in the mortgage industry.
Summary
Monday Morning Kickstart Meeting Begins
Nino and Cathy led a Monday morning Kickstart meeting, welcoming participants and discussing the importance of starting the week with positive energy and strategies. They acknowledged the presence of new attendees and encouraged them to introduce themselves. The meeting was set to begin with a video, but the transcript ends before it was played.
Emotional Control and Sales Performance
Nino emphasized the importance of maintaining emotional control, stating that losing one's temper is a sign of weakness and can negatively impact decision-making. Cathy then introduced Laura, a colleague who has demonstrated excellent emotional management skills throughout her career. Laura shared her journey with Fairway, starting as a loan originator and processing her own files, and now serving as a branch manager. She also revealed her impressive sales performance, closing 43 units in 2013, peaking at 115 units in 2021, and closing 88 units in the previous year. Cathy encouraged Laura to share insights into her personal life, which she did, though the specifics were not disclosed in the transcript.
Laura's Personal Journey and Career
Laura shared her personal journey, including her friend's successful battle with stage 4 lung cancer and her father's sudden death. Cathy acknowledged Laura's role in saving her friend's life. The conversation then shifted to Laura's early career as a loan officer, where she recounted a past mistake of not addressing a loan condition, leading to a denied loan. Laura reflected on her growth, noting that she now takes responsibility for problems and seeks solutions sooner. Cathy asked about the changes in loan processing, but Laura clarified that the loans have not become easier.
Effective Communication in Handling Complaints
Laura shared her experience of handling a customer complaint effectively by focusing on the real issue rather than the emotions involved. She emphasized the importance of stepping back from a situation to identify the core problem. Cathy agreed, highlighting that emotions often obscure the true issue and that effective communication can help address these problems. Nino then asked the team about their practices in involving all parties in a transaction, to which Laura responded that they usually include everyone, but in this particular case, they had mistakenly assumed the customer's sleeping schedule. Cathy concluded the discussion by emphasizing the importance of deep listening to identify and address the real problem, which leads to clients feeling heard.
Proactive Loan Processing and Communication
Laura emphasized the importance of being proactive in loan processing to prevent issues. She stressed that it's the originator's responsibility to document guidelines, not the underwriter's. Laura also shared her strategy of explaining to customers that additional documentation is needed to properly document the guidelines, rather than blaming the underwriter. Cathy agreed, noting that taking responsibility makes one appear more professional. Laura also mentioned her production partner, Leslie, who uses scripted emails and text messages to guide customers through the loan approval process.
Embracing Accountability and Human Culture
Cathy emphasized the importance of taking responsibility and being accountable for one's actions, even if it's uncomfortable. She suggested that this approach can lead to admiration and a positive reputation. Cathy also discussed the value of being human and acknowledging problems, as this can set one apart from others. She encouraged the team to strive to be the best version of themselves, rather than trying to mirror others. Cathy also touched on the impact of the culture on one's commitment to a no-blame philosophy.
Steve's Growth as a Leader
Laura expressed her admiration for Steve, the CEO, and his growth as a leader. She noted his transition from being a blunt communicator to one who takes time to gather his thoughts before speaking. Laura also shared her personal growth, attributing it to the advice of her mentors, Cindy Gordon and her first coach. She highlighted the importance of self-awareness, using the example of her own tendency to interrupt others, and emphasized the need to step back and allow others to express their thoughts.
Active Listening in Client Conversations
Laura emphasized the importance of active listening in client conversations, suggesting that it allows for a better understanding of the client's needs and issues. She shared an example of a nurse who felt left out due to working late hours, illustrating how a defensive response could have led to a fruitless conversation. Cathy agreed, noting that defensiveness rarely leads to meaningful discussions. Laura also advised patience during emotional outbursts, suggesting that venting can help reveal the core problem. Nino ended the conversation by reiterating the value of deep breathing, pausing, and listening to clients, rather than reacting impulsively.
ChatGPT Assists in Difficult Communications
Michael shares his experience using ChatGPT to help manage difficult communications, describing how a mortgage advisor on his team successfully used it to draft a professional email to a title company after a week of frustrating exchanges. The group expresses appreciation for Laura's earlier presentation about helping a friend through cancer and her insights on taking ownership of problems and the importance of listening in sales. Cathy and Nino close the meeting by expressing their belief in the participants and encouraging them to make a difference, with a request for attendees to share their AI success stories next week.