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It’s March Madness…Again!

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march-madness-mortgage-businessThis is my favorite time of year, other than Christmas. Not much can compete with Christmas in my book. March Madness comes close.

The time of year when dreams are made, and in some cases, come true. David versus Goliath type stuff. The big guys take on the upstarts, all to be the National College Basketball Champion. I love it!

A competition among what are arguably the 68 best college basketball teams in the Nation. Big or small, these are the schools that got to the ‘big dance’. They fought their way through a long hard season to either win or rank highly, in their local tournaments.

These teams planned, practiced, and prepared for this moment. This is their chance to shine, to show the world what they can do. Win or lose, they’ll give it everything they got. That’s the true meaning of competition.

It’s the same in business. Every day we enter the ‘Big Dance’ and compete.

To do so, we must plan, practice and prepare for what needs to be done to win. Then, it’s time to execute. Those who do it better will get the business. Those who don’t will be the early outs.

You don’t necessarily have to win it all to be successful. All you need to do is be able to compete at a high level. Success is measured in various ways.

  • Improved business
  • Reduced expenses
  • Better service
  • Happier Customers
  • Fewer defects/losses

 

All of these can help you get a better bottom line. It’s not only about increasing business.

 

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Just like the teams in the tournament, you need a good coach, developed players, good training, and a plan with the systems and processes to get there.

Businesses big dance runs all year long. We’re coming into a tough, competitive season. Are you prepared?

  • Do you have a plan?
  • Are your managers aware of it?
  • Do your employees know what is expected?
  • Are they trained and ready?
  • Do you have the systems and technology to achieve your goals?

 

Success doesn’t happen by accident (maybe sometimes). It takes hard work and dedication at every level. If you’re going to compete, you might as well play to win.

Enjoy the tournament.

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.
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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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