8-26-19 Hot Topic – Building a High Performance Company with Core Values

In this episode of Lykken on Lending we have the CEO of The Money Source, Darius Mirshahzadeh, on the program in our Hot Topic segment! The Money Source is a nationwide technology-driven mortgage company that was founded in 1997. Before becoming CEO, Darius was previously the senior vice president of wholesale lending at Pacific Union Financial and graduated MIT's entrepreneurial master's program. Topics Covered in the Episode:

1. Future expectations of what homeowners are going to look for when choosing to work with lenders and servicers.
2. The disruption that may occur for the process of mortgage lending and servicing due to technologies like AI and block chain.
3. Building a high-performance company using core values.

Resources Mentioned in this Podcast: 10 Years of Media, Technology & Content in the Mortgage Industry with Dave Savage, Ryan Hill and David Lykken Full Scale - Outsourcing your Tech Development as mentioned in Allen Pollack's Tech Update Excerpts from this Interview: Listen: As the digital mortgage becomes commonplace, it will be the companies who focus on the customer experience that will prosper... do your customers love you as a service provider... Listen: We think quick and cheap will become the standards in the mortgage industry... those who can build that connection with your customers will win in the marketplace... Listen: Making life easier for employees and creating a better experience for customers... for us it's not about a transaction, but about developing a relationship... Listen: Verification of customer information will become commonplace... a look at blockchain and the mortgage lending process around how we interact with the customer... Listen: If you look at sub-servicing mortgages... One of the biggest complaints from lenders is the loan on-boarding process... Listen: The Money Source was awarded with the 2019 HousingWire Tech Award... disrupting the sub-servicing industry... sub servicing in a box... Listen: I can start to make credit decisions as a mortgage originator... we think there's going to be some major changes to origination and servicing because of this new technology... Listen: To outsource or not to outsource... we believe the first step of Artificial Intelligence is Outsource Intelligence... AI starts with OI... Listen: We built SIME, our software solution, to try to transform the world of servicing... Listen: Lessons learned as we brought mortgage servicing in-house... Listen: Writing a book on core values... you need core values that are part of your language everyday, not just visited once a year or framed on the wall... creating sustainable change...