Q/A with Patricia Raymo of loanDepot
MBA NewsLink recently posed questions to Patricia Raymo, Chief Operating Officer of Retail with loanDepot, Foothill Ranch, Calif.
Raymo oversees all lending operations to support the company’s retail business channel. Before joining the company, she earned her mortgage banking experience in a variety of managerial positions with several federally chartered banks. In 2014, she was recognized as one of the most influential mortgage executives in the nation, and honored as one of HousingWire’s 2016 Women of Influence.
MBA NEWSLINK: Who served as your mentors and role models?
PATRICIA RAYMO, LOANDEPOT: I had many people that have helped me along the way but my dad was my greatest role model. He was a small-business owner, and a heating contractor. From an early age, I learned from him the value and pride in hard work. It was always most important to do the job right and do right by the customer.
NEWSLINK: In what ways do you mentor young female professionals who wish to follow in your footsteps?
RAYMO: I mentor young women the same way I mentor any young professional, I urge them to set goals, formulate a plan and execute it. Always look for ways to improve and do not settle for less.
NEWSLINK: What advice can you offer to women who want a career in your industry?
RAYMO: This is a great industry for the unique combination of skills that many women possess: attention to detail, multi-tasking and good communication ability. There are amazing opportunities if one can apply their talents. Work hard and if you want to succeed, first earn respect and then demand it.
NEWSLINK: What is the most important lesson you’ve learned in your career to date?
RAYMO: Be confident. I have never been accused of being shy, but I learned early on that you have to be your own best advocate. If you think you are right, keep at it until you have convinced them you are, or they have proven otherwise. Success requires teamwork, teamwork requires leadership and leadership requires confidence.
NEWSLINK: What do you think is the biggest issue for women in the workplace?
RAYMO: Maintaining the balance between work and family is challenging. As a mother with two grown children, I am sensitive to the struggles people face when raising children and working full time. In life, we all make sacrifices and we must live with the decisions we make. My advice is to make a decision and not to look back. It is important find the right balance between career and family.
NEWSLINK: Which other female leaders do you admire and why?
RAYMO: One of my favorite quotes is from Eleanor Roosevelt who said, “No one can make you feel inferior without your consent.” That typifies how she lived her life, not as the person she was supposed to be, but as the one she wanted to be. As First Lady, she was an outspoken activist who pursued her own goals before this was accepted. She did it with such confidence and grace that she paved the road for others.
(Views expressed in this article do not necessarily reflect policy of the Mortgage Bankers Association, nor does it connote an endorsement of a specific company, product or service. MBA NewsLink welcomes your submissions; articles and/or Q/A inquiries should be sent to Mike Sorohan, editor, at msorohan@mba.org.)
