This week’s HW + Membership Spotlight features Brian Hale, Founder and CEO of Mortgage advisor partners (MENU). Hale recently launched MAP, his new consulting business, to help mortgage bankers, mortgage brokers, banks, home builders and real estate agents improve their mortgage-related businesses. With over 40 years of mortgage experience, Hale has held executive positions for some of the best housing companies in the industry, including ClosingMark Financial Group, Stearns Loans, MetLife Home Loans, MetLife Bank, In all the countries, Wells fargo and Mortgage fleet.
Below, Hale answers questions about the housing industry:
Housing wire: First off, what’s your favorite HW + item right now?
Brian Hale: “In a buying market, new LOs can struggle,” by Maria Volkova, as it shows how ill-prepared some companies, if not many, are to move into the buying market.
Housing wire: What has been one of your greatest learning opportunities?
Brian Hale: Listening to my dad about life and dealing with people and building relationships (the ability to quickly relate to people from the bar room to the boardroom), and having four great mentors in my life who seemed to come by. chance at exactly the right time, got interested in me and taught me so much.
Housing wire: What has been the most useful technological tool for you?
Brian Hale: My iPhone combined with OneDrive and OneNote to allow me to be virtually paperless to process, assist, and communicate with customers anywhere, anytime. To be honest, in my office, I would say my Dell XPS laptop is my most useful technological tool that powers ten different devices and is the center of my business operations.
Housing wire: Can you name a time when you felt successful at your job?
Brian Hale: When I was appointed to Wire Housingoriginal list of Vanguard Award.
Housing wire: What’s the best advice you’ve ever received?
Brian Hale: There is a difference between authority and responsibility. You can delegate your authority infinitely downwards and even occasionally upwards, but you can never delegate an ounce of your responsibility.
Housing wire: What are the 2-3 trends that you are following closely?
Brian Hale: How companies are preparing for 2022 with 50% of the volume compared to 2020 and mainly purchase volume, demographics (millennials), post-Covid work models enhanced by technology, outsourcing and squeezing margins compared to costs.
Housing wire: What keeps you from sleeping at night and why?
Brian Hale: Where does the next generation come from in our business. There are a lot of young talent in our industry, but not enough. There is no natural food in our company. Which of you did graduate school to become a mortgage banker? The MBA does a good job with its CMBA programs for business people, but it’s not enough either.
The industry that supports the world’s largest consumer debt market needs more outreach from universities to develop talent as many other financial industries have done. In addition, each leader in our industry has the obligation to supervise and develop.
Housing wire: What do you think will be the main themes of the real estate market in 2022?
Brian Hale: The purchase volume will be the key. Volumes will likely be 50% from just two years earlier. We will not have wrested enough capacity from the industry, so many players will be struggling, the margins will probably have improved from the start of this year, but will still be tested. There is now and will continue to be a recruiting war for the right talent, the continued deployment of technology and outsourcing in search of lower unit costs, reduced compensation models, a renewed and contested regulatory environment.
Housing wire: If you could change or implement a housing regulation, what would it be and why?
Brian Hale: The compensation rules for the principal. I think the original intent of the rules when they were written in 2010 was honorable, but like many regulations, they have proven to be unfair, unbalanced, and more often than not contrary to the original desire to protect customers. I am not arguing for a return to the old days or an “excess”.
These approaches were always foolish and often discriminatory in nature. Smart people should be able to walk into a room and figure out how certain groups are unfairly affected or improved by the current rules and level the playing field while embracing the original goals. I would be happy to consult with anyone working on this matter free of charge.
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