The MikedUp Show

This week on The MikedUp Show, we’re honored to host Michael Brady, the Executive Vice President, Chief Information Officer, and Chief Information Security Officer of LeaderOne Financial. With a rich background in operations, strategic planning, and business process improvement across multiple industries, Michael shares his unique insights into the evolving mortgage landscape. As the industry continues to transform with the integration of cutting-edge technologies like AI and advanced data analytics, Michael emphasizes the crucial role of leadership in steering this change.

Throughout the episode, Michael discusses the importance of adapting to technological advancements while staying true to the foundational principles that drive success in the mortgage business. He sheds light on how mortgage professionals can leverage AI to enhance data aggregation and enrich their outreach strategies, ultimately enabling more personalized client interactions and increased business opportunities. However, Michael also warns against relying solely on technology, stressing the need for loan officers to continually develop their expertise to remain competitive.

Michael’s perspective is particularly valuable for those in leadership positions, as he explores the delicate balance between implementing innovative technology and ensuring that teams are equipped to handle these changes. His experience in leading a successful organization like LeaderOne Financial provides practical advice on how to foster a culture of continuous learning and improvement. By the end of the episode, listeners will have a clear understanding of how to harness the power of mortgage technology to lead better, improve operational efficiency, and drive long-term success.

In this insightful episode of The MikedUp Show, Mike Kelleher and Michael Zau sit down with Nick Pabarcus, a powerhouse in the mortgage industry with over 25 years of experience in wholesale and correspondent lending. As the Director of Sales at Logan Finance, Nick brings a wealth of knowledge from his previous roles at loanDepot, Stearns Lending, and Countrywide. His expertise in leadership, risk management, and mortgage banking is unparalleled, and he shares an in-depth look at the evolving landscape of the Non-QM (Non-Qualified Mortgage) market.

This episode opens with a vivid analogy, comparing the mortgage industry to the world of Formula 1 racing, where the racetracks are challenging and require mastery to navigate. Nick draws parallels between mortgage professionals and F1 drivers like Verstappen, Hamilton, and Leclerc, emphasizing the importance of preparation, speed, and strategic thinking. He touches on how the mortgage tracks of today differ significantly from those 25 years ago, when the industry was simpler but lacked the technological advances that we now take for granted.

Nick takes listeners on a journey through time, revisiting the days when Countrywide and Stearns Lending dominated the TPO (Third-Party Origination) channel, and brokers relied heavily on technology and innovation to gain an edge in the market. He delves into the evolution of Non-QM loans, explaining how these once-niche products have become essential for loan officers looking to serve the self-employed and gig economy borrowers. With Non-QM loans offering higher profit margins due to their complexity, Nick provides valuable insights on how loan officers can leverage these products to stand out in a competitive market.

A key focus of the episode is the "Monaco" of racetracks in today's mortgage industry—Non-QM lending. Nick breaks down the current demand for Non-QM loans, highlighting the opportunity for loan officers to capitalize on the hundreds of basis points available in this space. He emphasizes the importance of understanding the credit boxes, pricing transparency, and securitization processes that make Non-QM loans so attractive to Wall Street investors. For those loan officers willing to invest the time and effort in mastering Non-QM, the rewards are significant.

Nick also touches on the technological advancements that have revolutionized the mortgage process, particularly in the realm of Non-QM. He introduces Logan Finance's AI-powered portal, which simplifies the task of reviewing bank statements for self-employed borrowers. This innovative tool saves loan officers time and minimizes the risk of errors, making the entire mortgage process smoother and more efficient.

Throughout the episode, Nick offers practical advice for loan officers on how to educate their clients about the benefits of Non-QM loans, especially when faced with objections about fees and interest rates. He emphasizes that it's not about what the borrower pays upfront, but rather what they keep in the long run. This mindset shift is crucial for helping investors and other high-net-worth clients make informed decisions that will benefit them in the long term.

As a passionate advocate for the mortgage industry, Nick also shares his thoughts on the future of lending, particularly for underserved markets like the self-employed and gig economy. He encourages loan officers to stay informed and take advantage of the educational opportunities available through industry organizations like the California Mortgage Bankers Association and the National MBA.

Whether you're a seasoned mortgage professional or just starting out, this episode is packed with valuable insights and actionable advice that can help you navigate the complexities of the modern mortgage market. Tune in to hear Nick's expert take on Non-QM lending, the future of the mortgage industry, and how technology is shaping the way we do business.

In this episode of The MikedUp Show, we sit down with John Hedlund, a distinguished leader in the mortgage industry with a career spanning over three decades. John has played a pivotal role in shaping the financial services landscape, leading some of the largest financial institutions and mortgage lenders in the United States. From his beginnings at the Royal Bank of Canada to founding AmeriHome Mortgage—one of the largest correspondent lenders in the country—John's journey is one of leadership, strategy, and innovation. Recently, John founded Adanac Advisory Group, a boutique consulting firm designed to help businesses optimize their vision and achieve sustainable growth.

John shares his personal experiences and lessons learned from guiding AmeriHome through its inception, its rapid rise to becoming the second-largest correspondent lender, and its successful acquisition by Western Alliance Bank in 2021. His insight into the importance of adaptability, strong leadership, and long-term vision in a cyclical industry offers invaluable lessons to mortgage professionals at every level.

In this episode, we dive into John's thoughts on the current mortgage landscape, the increasing role of fintech and automation, and how companies can not only survive but thrive in a highly competitive market. John stresses the importance of fostering a cohesive leadership team and shares strategies for balancing short-term objectives with long-term vision. Whether you're looking to scale a startup or lead an established business through challenging times, John’s advice will guide you toward becoming a more effective and innovative leader.

Additionally, John reflects on his leadership roles in industry organizations like the Mortgage Industry Standards Maintenance Organization (MISMO) and the California Mortgage Bankers Association (CMBA). He discusses how advocacy is critical in navigating regulatory changes and shaping the future of the housing market.

Through his deep understanding of origination, correspondent, and capital markets, John presents a holistic view of the industry and offers practical advice on how to lead a business to long-term success. He emphasizes the importance of technological innovation, particularly in AI and automation, in maintaining a competitive edge in today’s market. As a leader who has consistently driven both revenue growth and cost reduction, John’s insights are not only timely but essential for anyone looking to succeed in the mortgage space.

Whether you're a CEO, a startup founder, or someone aspiring to be a top leader, this episode is packed with actionable insights on leadership, strategy, and innovation. John Hedlund's unique perspective and wealth of experience make this one of the most informative episodes of The MikedUp Show yet.

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 people are motivated to go above and beyond because they know their efforts directly impact their own financial well-being.

In addition to sharing his personal leadership philosophies, Bill touches on his advocacy work within the mortgage industry. As a longtime leader in the space, Bill has been an active voice in pushing for regulatory reform, affordable housing solutions, and industry-wide improvements. His work with the Mortgage Bankers Association and the California Mortgage Bankers Association has helped shape policies that benefit not just APM but the broader mortgage industry as a whole. Bill’s commitment to the industry is a testament to his belief in giving back and ensuring that the industry he loves continues to thrive and evolve.

By the end of this episode, listeners will have a comprehensive understanding of what it takes to lead a top-tier organization in the competitive mortgage industry. Bill’s emphasis on people, fundamentals, and transformational leaders...

In this in-depth audio episode, Rudy Orman, Senior Vice President at NQM Funding, LLC, joins the show to explore one of the most crucial yet often overlooked segments of the mortgage industry: Non-QM lending. Rudy has a storied career in the mortgage industry, spanning over 35 years, during which he has worked with leading institutions like Goldman Sachs, HSBC, and Reliant Bank. His expertise in sales, product development, capital markets, and securitization gives him unparalleled insight into the Non-QM market and how mortgage professionals can leverage it to expand their business. Throughout this episode, Rudy explains why Non-QM loans are becoming increasingly essential in today's lending landscape. As agency loans from Fannie Mae and Freddie Mac dominate the market, Non-QM products provide a lucrative alternative for loan officers who want to cater to borrowers who don’t meet traditional lending requirements. Rudy covers everything from the basic structure of Non-QM loans to the profitability that comes with offering these products to the right clientele. One of the highlights of the episode is Rudy’s discussion on how Non-QM loans can help real estate investors, self-employed individuals, and high-net-worth borrowers. He emphasizes that the agency space is limited in its ability to serve these types of clients, which presents a significant opportunity for loan officers who are equipped with Non-QM products. Rudy believes that the profits in the Non-QM space are often much larger than those in the agency space, making this an attractive option for lenders looking to boost their bottom line. The episode also delves into the investment appetite on Wall Street for Non-QM loans. Rudy shares how understanding the demand from investors can help loan officers better align their offerings to what the market wants. Additionally, Rudy stresses the importance of not selling with your own wallet—a philosophy that encourages loan officers to offer products based on the needs and desires of their clients, not their own personal financial preferences. Listeners will also gain valuable insights into how Non-QM can be a transformational tool for loan officers and why it’s important to diversify your product lineup. Rudy believes that loan officers who are not thinking outside the box with offerings like Non-QM are likely to lose out on business in the long run. As the industry shifts and more borrowers fall outside the scope of agency lending, Non-QM loans will be essential in meeting the needs of a wider array of clients. Rudy also addresses the common concerns that loan officers may have when presenting Non-QM options to their clients. Higher interest rates often come up in discussions, but Rudy explains how loan officers can reposition the conversation by focusing on the purpose of the loan and its benefits. He advises loan officers to be curious, ask questions, and understand the borrower’s reasons for borrowing, which can help close more Non-QM deals. To round out the episode, Rudy provides actionable advice on how to get started with Non-QM loans, including where to find support, training, and resources. He encourages loan officers to partner with experts like NQM Funding to ensure they are offering the best possible solutions to their clients.