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There’s No “I” in Madness

Basketball-Team Work LoanLogics
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Basketball-Team Work LoanLogicsThis is my favorite sports time of the year. I love the World Series, Super Bowl, the NBA and Stanley Cup Finals. But, for me March Madness takes the cake.

In the professional sports, the athletes are pampered and overpaid, playing as much for themselves as they do for their team.  Don’t get me wrong, I cheer just as hard for my hometown guys. However, the NCAA College Basketball Tournament is made up of kids, playing their hearts out for school pride and their five minutes of fame.

Look, I’m not naive, I know there is big money in it for the schools involved and for some of the players who are looking to go on to bigger and better things. But, for the most part, it is a game being played at its best, for the right reasons. It’s fun and exciting.

Reality is there is only one National Champion crowned in the end. That’s not to say there is only one winner, only that just one gets crowned. Throughout the contests, there are many winners at various levels. The level depends on talent, preparation, execution and a little luck.

It all starts with putting together the right team, training that team to understand the plan and execute it properly. After that, it’s practice, practice, practice. In the end, if everything comes together, with a little luck thrown in, the team, and its players become winners. Not always by being crowned a champion, but in learning to work together for the good of the group, sometimes sacrificing personal goals and achievements. Becoming the best they can be.

Sound familiar? It should because it’s the same in business. Customers don’t care if a company has the biggest producer, a slick website, fancy systems or a great slogan. What they want are results. They expect a company to deliver the goods and products they advertise and promise, with great customer service. It’s no different in mortgage lending.

A successful company needs to build a talented team. A team that is well trained to know their products and to understand the customer’s needs so they can and will, deliver to meet and exceed that customer’s expectations.

Are your employees trained to know and understand your products and their job? Does each know and understand their role on the team? Do you provide training and practice so they can hone their skills? Do you have a plan to capture and service customers?

Success doesn’t happen by mistake. It takes planning, training, practice and teamwork. Otherwise, it’s just madness…

Are you ready for the big dance?

Michael Vitali

About the Author

Michael Vitali

Michael L. Vitali – Independent Consultant to the Mortgage Industry Mike Vitali is an independent consultant to the mortgage industry on matters concerning compliance and mortgage lending. He most recently served as the Senior Vice President and Chief Compliance Officer for LoanLogics, monitoring regulatory developments and their practical implications for the mortgage lending industry. His duties included research, interpretation, and analysis of existing and proposed legislation related to the industry in support of recommendations for policy and/or procedure changes to maintain continued quality and compliance with all applicable laws, rules and regulations, investor requirements, and standard mortgage practices. In his more than 40 years in the mortgage industry, in senior level management, he has gained experience in all areas of mortgage lending, risk management, and compliance. Mike is a past President of the MBA of Greater Philadelphia, is a charter member and was the second Chairman of the MBA of Pennsylvania, and a past board member and Legislative Chair of both associations. He is a recipient of the 1998 Mortgage Banker of the Year Award from the MBA of Greater Philadelphia, and the 2003 Chairman's Award from the MBA of PA, and currently serves on several compliance related task forces for MBA.
Michael Vitali

About Michael Vitali

Michael L. Vitali – Independent Consultant to the Mortgage Industry Mike Vitali is an independent consultant to the mortgage industry on matters concerning compliance and mortgage lending. He most recently served as the Senior Vice President and Chief Compliance Officer for LoanLogics, monitoring regulatory developments and their practical implications for the mortgage lending industry. His duties included research, interpretation, and analysis of existing and proposed legislation related to the industry in support of recommendations for policy and/or procedure changes to maintain continued quality and compliance with all applicable laws, rules and regulations, investor requirements, and standard mortgage practices. In his more than 40 years in the mortgage industry, in senior level management, he has gained experience in all areas of mortgage lending, risk management, and compliance. Mike is a past President of the MBA of Greater Philadelphia, is a charter member and was the second Chairman of the MBA of Pennsylvania, and a past board member and Legislative Chair of both associations. He is a recipient of the 1998 Mortgage Banker of the Year Award from the MBA of Greater Philadelphia, and the 2003 Chairman's Award from the MBA of PA, and currently serves on several compliance related task forces for MBA.
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