Shred EffectWholesale Lending

Building Trust and Culture with Willie Newman

By August 23, 2019 August 25th, 2019 No Comments

Recently we had Willie Newman, President and a CEO of Home Point Financial, join us on an episode of our Shred Effect Live Show.

Home Point is a national mortgage banking business focused on mortgage origination and servicing. As someone who’s been in the business since the 80s, Willie combines the old school long-term thinking with technological innovation. Check out our interview below and a quick summary of the interview.

Home Point was founded in 2015 and aims to become a top 10 industry-leading mortgage lender. With that ambitious goal in mind, Home Point Financial has got to be doing something different. While sharing his wisdom and experience, William touched on these topics:

  • Building a successful mortgage business model
  • Home Point's main objective
  • A role of culture and team being paramount in Home Point's success

Home Point Financial relies on the 3rd parties, aka Mortgage Brokers to bring in customers. The company makes money servicing mortgages while developing trust and building a relationship with their customers. Home Point Financial offers products and services while bringing value to its customers by providing information on how to become the most efficient homeowner.

All the extra-mile work is done not just to push a product, but to get to know the customer. In return, the customer gets to know the company. This feeds directly into the company’s main objective – to retain their customers for life.

How do they do it? The key is to show the customer that Home Point Financial truly cares. It’s more valuable to establish a dialogue rather than simply make a product push. That definitely plays out well for the company long-term. Once the trust with the customer is built, Home Point Financial can leverage that  relationship for the mortgage brokers so that the customer stays in the ecosystem of the company AND create a “Customer For Life” for the mortgage broker.

This long-term thinking is not very common in the industry, and that’s exactly why Willie’s approach is winning. While other companies are out there chasing individual transactions, Home Point Financial is busy developing trust and building a name for themselves. After all, mortgage is an infrequent transaction. It usually takes 5 to 7 years for someone to refinance their mortgage, and Home Point Financial wants to be a part of that new deal – and any other ones the future.

We also discussed the “We care” culture that Willie has developed in his business. He praised his team for doing a great job of upholding the values and the message of the company. Willie believes that just talent is not enough. A person has to have the mindset to truly benefit the company and embrace its culture.

We also discussed data aggregators, building the franchise value, and working with other companies in partnership. We both agreed on the need for collaboration between the new blood and the old souls of the industry. After all, true innovation happens when technology supports the principles that have always worked in the past!

You can read more about Home Point Financial below!

Why I’m betting on mortgage brokers

Home Point Aiming to Connect

Opinion Mortgage brokers want relationships, not just tech, from wholesalers

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