MBA Premier Member Profile: Vantage Production LLC
(One in a continuing series of Premier Members of the Mortgage Bankers Association.)
Vantage Production LLC, Red Bank, N.J., provides advanced CRM systems, compliant automated marketing and sales solutions, compelling content for the mortgage industry and professional development programs.
With solutions tailored to the requirements of both enterprise lenders and loan officers, Vantage Production serves more than 300 leading lenders and tens of thousands of individual subscribers. We empower lenders to create exceptional experiences for loan officers, borrowers and referral partners that build trust and manage risk.
Key Personnel:
–Sue Woodard, President and CEO
–Jason Hauben, Chief Financial Officer
–Ryan Stillwell, Chief Operations Officer
–Shalisa Mohamed, Chief Technology Officer
–Todd Ballenger, Executive Vice President, Business and Product Development
–Bill Bodnar, Senior Vice President, Strategic Accounts
–Laura Smith, Senior Vice President, Client Services
MBA NEWSLINK: What trends does your company find compelling in the next few years?
SUE WOODARD: Demographic trends, both of borrowers and the housing industry labor force are front and center. Millennials will impact trends in home buying and financing, as well as how they will become a part of the housing industry labor force. With the average age of a mortgage loan officer being 54, it is only a matter of time until there begins to be more significant turnover in the industry. We intend to continue meeting the needs of both lenders serving millennials, as well as lenders employing millennials.
Technology, especially mobile, is changing the way lenders and borrowers interact during the loan process to ensure that the decisions we are making for our products and services right now will provide a flexible, nimble environment from which we will continue to serve our clients well into the future.
The increased emphasis on data-driven decision-making for marketing and sales activities will present opportunities for mortgage companies to more distinctly leverage one of their key assets–their customer and prospect data.
Mortgage lenders are and will continue to adjust their organizations and workflows to more effectively and efficiently go to market. Staying ahead of the changes, both at a macro and lender-specific level is key to ensuring that Vantage Production’s solutions meet the needs of our clients and ultimately the borrower.
NEWSLINK: What is the single most important issue facing your company right now?
WOODARD: Mortgage lenders must boldly leading through periods of rapid change. Change is not easy for any organization and effectively leading change is one of the most important jobs for any leader. The role of the leader is to balance the need to ensure that their current business model is stable and at the same time implement the changes necessary to succeed in the future. Both must be done.
Add to the mix, the changes required due to new regulatory guidelines and mortgage industry leaders must act in full force to adopt change. Unfortunately, we see that the leadership of some lenders can at times be half-hearted or outright deficient when dealing with compliance–particularly when it comes to their sales force–and we see this as a major issue.
Some leaders are simply afraid to make the changes they need to within their organization in order to adequately protect their future. It’s like a parent who can’t stand to see their child cry, so refuses to take them to the doctor for needed yet painful shots or bad tasting medicine that will cure an illness. Out of this fear of the MLO reaction or fear of investment, some lenders are waiting too long to deal with the upcoming regulation–or are dealing with it half-heartedly–and then are forced to scramble and react rather than lead. This leaves the organization in a fair state of chaos; today we see too few lenders focusing on boldly leading their people and updating the related processes, but instead spending too much time customizing technology in order to work around their fears.
NEWSLINK: Why did your company join the Mortgage Bankers Association?
WOODARD: We have been a longstanding member of MBA, as we believe the leadership and representation that is offered by the Association is critical–and especially so in today’s environment. We are a service provider and technology vendor, we exclusively serve and support the mortgage industry–and we also hold deep internal roots in the industry via many of the staff within our company having worked in the mortgage business.
Regulations are being enacted with little knowledge of the mortgage business, therefore offering little clarity to lenders as to how to correctly follow the rules, and in turn, overlooking the enormous end consequence and cost to the consumer. MBA works tirelessly on behalf of the lenders who seek to lend in an ethical manner and serve the American homeowner in the best manner possible.
NEWSLINK: How has being an MBA member benefited your company?
WOODARD: We enjoy the benefits of knowledge–we are educated on a regular basis by the MBA and all the resources and events that are simply second to none.
We enjoy the benefits of perspective–our valued lender clients know we are actively aware of the issues facing them, and we are able to develop plans and seek opportunities that are aligned with their needs.
We enjoy the benefits of relationship–the best lenders in the nation are active participants in the MBA, and we have been able to connect with them, learn from them and grow with them.
(MBA Premier Member Profiles are a service provided by the Mortgage Bankers Association and MBA NewsLink as a service to MBA Premier Members. Publication does not constitute an endorsement of a particular company, product or service. For more information about the MBA Premier Member program, contact Julie Dychkewich at jdychkewich@mortgagebankers.org or 202/557-2779.)
