In the latest episode of the Power House podcast, HousingWire CEO Clayton Collins sits down with Randell Gillespie, the chief production officer at Lower and a recipient of the 2023 HousingWire Vanguard Award.
The conversation covers a range of topics, including Lower’s evolving culture and leadership structure following the acquisitions of Thrive Mortgage and Universal Lending. They also delve into fintech advancements for loan officers, recruitment strategies, and even Gillespie’s favorite hamburger. Gillespie joined Lower after the acquisition of Thrive Mortgage last year.
To kick things off, Collins asks Gillespie about Lower’s executive team and how each member brings their unique perspectives and experiences to the table. Gillespie highlights the company’s emphasis on synergy and collaboration over a traditional hierarchical structure. He mentions Craig Montgomery, Lower’s chief strategy officer and a previous guest on the Power House podcast, as one of several executives with diverse backgrounds and experiences.
Gillespie stresses the importance of shared vision and effective communication within the team, noting that experience alone is not enough. He discusses how Lower fosters humility and embraces rapid change to improve the industry and enhance customer experiences.
Collins then inquires about the shifts in the mortgage industry and how they impact financing options for consumers. Gillespie emphasizes the ongoing mission to provide value and assist people in achieving homeownership, highlighting the need for personal interactions alongside digital communication methods.
Gillespie revisits Lower’s commitment to guiding consumers through the homeownership journey, emphasizing the alignment of Thrive’s culture and mission with Lower’s customer-centric approach. He mentions the introduction of new technology from Thrive that has enhanced Lower’s offerings and provided unique value to consumers.
When discussing the needs of loan officers, Gillespie introduces the concept of the “three Ls” – lead generation, learning opportunities, and lean practices. He underscores the importance of educating consumers about the mortgage industry and positioning oneself as an expert in the field.
Gillespie concludes by highlighting the impact of technology on the market and urging loan officers to leverage existing tools while continuing to provide personalized value. He acknowledges the role of technology in adaptation but emphasizes the importance of maintaining a human touch in the lending process.
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