Mortgage CIOs Discuss Impact, Innovation Tied to Covid-19
Experts Discuss How the Pandemic has Impacted Work Flexibility, Automation, and Data Strategy
Saxony Partners convened a virtual panel of mortgage industry chief information officers to discuss how they have navigated the global pandemic and the effect it has had on their companies, and the industry as a whole.
Renee Galitis of Caliber Home Loans, Michael Brady of LeaderOne Financial, and Joe Hamilton of First Guaranty Mortgage Corporation joined Saxony’s Angel Armendariz for the hour-long chat, which took place in early September. Armendariz, Saxony’s Director of Financial Services, led off with a discussion about what prepared the executives for this unique moment in time.
“It was very much like preparing for a hurricane,” Galitis said. “We had to get into our crisis mode.”
“We had daily stand-ups several times per day to make sure we were working together to understand how we were protecting our people and our customers, how we were preparing for bringing everyone home.”
Joe Hamilton echoed that same sentiment.
“That’s exactly what I thought about, as well – it was like a nationwide hurricane,” Hamilton said. “One of our strengths going into Covid was that we were already 40 percent remote. Because of that, the rest of the company was set up to go remote. We’re laptop-based and could become mobile very quickly. Also, we had moved to the cloud, so we had nothing on-prem to worry about.”
That answer set the stage for a wide-ranging discussion on the pros and cons of managing a remote workforce, the primacy of data, and how the pandemic is spurring technological innovation.
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This is the second virtual panel discussion that Saxony Partners has hosted since the beginning of the Covid-19 pandemic. The previous panel discussion – featuring leaders from Supreme Lending, Flagstar Bank, and Gateway First Bank – focused primarily on the immediate and near-term impacts the pandemic was having on the mortgage industry.
For more information on Saxony Partners’ Financial Services practice, click here.