Women are making significant strides in the mortgage sector, with an increasing number of them assuming leadership positions and excelling in various roles. From mortgage loan officers to underwriters, processors, and managers, women are making their mark and bringing valuable perspectives to the industry.
Their expertise, professionalism, and ability to build strong relationships have been instrumental in driving positive change and shaping the future of the mortgage sector. As more women continue to enter and excel in this field, they are breaking barriers, shattering glass ceilings, and inspiring future generations of female professionals in the mortgage industry.
As the Senior Vice President of Operations at PRMI (Primary Residential Mortgage, Inc.), Alyssa North holds the responsibility of establishing and fostering industry connections, as well as guiding the strategic direction of its various Operations departments, ranging from Processing to Post-Closing. Originally from Colorado, Alyssa now resides in Centerville, Utah, alongside her husband of five years, two daughters and two stepkids. In her leisure time, she indulges in activities such as golfing, attending live music shows, snowshoeing, hiking with her dogs Brody and Jasper, and spending quality moments with her kids.
In 2008, Alyssa entered the industry from an entry-level position, without prior mortgage knowledge or experience. At that time, her manager, who was expecting her first child, chose not to return to work after giving birth, entrusting Alyssa with the responsibility to take charge. Despite having only six months of experience in the mortgage field, Alyssa swiftly adapted to the job’s demands, progressing in her career and gradually assuming more significant responsibilities, including overseeing PRMI’s post-closing teams.
As time went on, Alyssa was promoted to VP of Operations approximately three years ago and had the privilege of working alongside her former EVP of Operations, who had been Alyssa’s boss and mentor for several years. She asserts, “I am now aware that she was preparing me to succeed her as she planned to leave the working world and focus on her family. Looking back, I would never have anticipated holding an executive position at PRMI when I first joined the company. I am immensely grateful for every opportunity I have had at PRMI and am excited to continue contributing to the company’s growth and success.”
Streamlining Processes
As an esteemed Senior Vice President (SVP) of Operations in the mortgage industry, Alyssa leaves a lasting impact on the field with her expertise. Her contributions can be witnessed through various avenues:
Alyssa’s keen eye for optimization allows her to streamline operational processes with finesse. By drawing upon her vast experience and proficiency, she improves the speed and accuracy of critical tasks such as loan processing, underwriting, and closing. The result? A more efficient and effective system that drives the company forward.
In this fast-paced technological era, Alyssa embraces innovation as a guiding principle. In her role, she fearlessly adopts cutting-edge technologies like machine learning, and automation. By weaving these transformative tools into the fabric of the company’s operations, Alyssa enhances efficiency, reduces errors, and elevates customer satisfaction to new heights.
Beyond operational excellence, Alyssa’s influence extends to the growth and development of her team. As a senior leader, she takes pride in nurturing talent, serving as a mentor and guide to aspiring professionals. By investing in their personal and professional growth, Alyssa empowers her team members to become industry trailblazers, leaving an indelible mark on the mortgage industry.
Overcoming Challenges and Embracing Self-Worth
Alyssa’s greatest challenge and success revolved around raising her two daughters alone while advancing in her career. Despite numerous nights spent juggling office work and parental responsibilities, she persevered. Balancing work and home life proved challenging, but her determination to excel in her job never wavered.
Additionally, Alyssa grappled with accepting and trusting the recognition and value accorded to her by the leadership team at PRMI. As a newcomer to the industry, her limited self-confidence made her professional achievements seem insignificant. However, her tenure at PRMI has been transformative both professionally and personally. Alyssa has learned to strike a harmonious balance between work and home life, and she now recognizes her worth as a mortgage professional and an independent woman. She can confidently celebrate her successes as the SVP of Operations and as a devoted mother.
PRMI’s Core Values
PRMI is dedicated to cultivating a work culture characterized by excellence, innovation, and integrity. The company’s core values revolve around the recognition that their clients, partners, and employees are their most valuable assets. Here is an overview of the values that underpin PRMI’s work culture:
- Client-Centered Focus: PRMI believes in putting their clients first and providing them with the best possible experience by delivering personalized and customized mortgage solutions that meet their unique needs.
- Employee Development: PRMI invests in the professional and personal development of their employees by providing ongoing training, mentorship, and career advancement opportunities.
- Integrity: PRMI operates with honesty, transparency, and ethical conduct in all business interactions and relationships.
- Innovation: PRMI values innovation and is committed to finding new and better ways to serve their clients and partners.
- Community Involvement: PRMI is dedicated to giving back to the communities they serve through charitable contributions, volunteering, and community outreach programs.
- Collaboration: PRMI fosters a collaborative work culture where employees are encouraged to work together, share ideas, and support each other to achieve common goals.
- Continuous Improvement: PRMI is committed to ongoing improvement in all aspects of their business, including processes, products, and services, to provide the best possible experience for their clients and partners.
Innovative and Forward-Thinking
At PRMI, the team maintains a strong commitment to being an innovative and forward-thinking company that stays ahead of industry trends and adapts to the ever-changing business environment. This is achieved through strategic investments in the latest technology, providing ongoing training and development opportunities for employees, and fostering a culture of creativity and collaboration.
The vision at PRMI is to become the most respected and sought-after mortgage lender in the country. The company aims to be known for its exceptional customer service, innovative solutions, and unwavering dedication to employees, partners, and communities. Building long-term relationships with clients and partners is a key objective, achieved by consistently exceeding their expectations and delivering on promises.
To drive progress in the ever-changing business landscape, PRMI’s team consistently assesses and enhances processes, embraces emerging technologies, and fosters a culture of innovation and entrepreneurship. Additionally, the company places great importance on corporate social responsibility, actively supporting charitable organizations and initiatives that bring positive change to the communities it serves.
Streamlining Processes, Enhancing Efficiency, and Improving Customer Experience
PRMI recognizes the significance of technology in streamlining processes, enhancing efficiency, and improving the overall customer experience. PRMI remains committed to staying at the forefront of technological advancements in the mortgage industry to provide innovative and resourceful solutions to clients and partners.
Here are some ways PRMI is leveraging technology to enhance their solutions:
- Business Intelligence and Analytics: PRMI utilizes sophisticated data analytics and business intelligence tools to gain insights into customer behavior, market trends, and operational efficiency. This aids in making informed decisions and improving overall performance.
- Mobile Applications: PRMI offers mobile applications to customers and partners, allowing them to access accounts, view loan status, and communicate with loan officers on the go.
- Cybersecurity: PRMI invests in cybersecurity technologies to safeguard customer and company data from cyber threats, ensuring the utmost security and privacy for all stakeholders.
- Digital Mortgage Solutions: PRMI provides digital mortgage solutions, enabling customers to complete applications and submit documentation electronically. This approach accelerates the process, offers convenience, and ensures security.
- Automated Underwriting: PRMI utilizes automated underwriting software for prompt loan approvals while maintaining accuracy and compliance.
- CRM (Customer Relationship Management) and Workflow Automation: PRMI employs advanced CRM and workflow automation software to streamline processes and enhance communication among team members, clients, and partners.
- By leveraging these technological advancements, PRMI can provide innovative solutions that simplify the mortgage process, enhance the customer experience, and boost operational efficiency. This strengthens their position in the mortgage industry.
Prominent Trends in the Mortgage Industry
Alyssa observes two prominent trends in the mortgage industry. Firstly, there is a growing momentum towards digitization, with digital mortgages gaining popularity. This involves completing the entire mortgage process online, including applications, document submission, and signatures. The advantages of speed, efficiency, and convenience are driving this trend, and it is expected to continue.
Secondly, automation and artificial intelligence are increasingly being employed in the mortgage process. Automated underwriting, fraud detection using machine learning, and chatbots for customer service are examples of how technology is improving efficiency and reducing errors. This trend is likely to expand further in the future.
The COVID-19 pandemic has also accelerated the shift towards remote work and virtual communication in the mortgage industry. Remote work offers flexibility for employees, reduces overhead costs, and facilitates efficient collaboration among teams.
While specific changes in the mortgage sector are challenging to predict, these trends indicate that technology will play a significant role in shaping the industry. Companies that embrace new technologies can gain a competitive advantage in this evolving landscape.
Principles for Success
Alyssa advises aspiring entrepreneurs who are venturing into the mortgage business to focus on several key principles. Firstly, she emphasizes the importance of prioritizing customer experience. For a successful mortgage business, it is essential to understand customers’ needs, provide exceptional service, and ensure a seamless and stress-free mortgage process. By keeping the customer experience at the forefront, entrepreneurs can establish a strong foundation for their business.
Secondly, Alyssa stresses the significance of staying current with regulations. The mortgage industry is highly regulated, and entrepreneurs must stay updated on the latest regulations and requirements. This knowledge enables them to avoid costly mistakes and ensures that their business operates in compliance with legal and industry standards.
In addition, Alyssa highlights the value of building strong relationships. Relationships play a critical role in the mortgage industry, encompassing customers, employees, and industry peers. By cultivating trust, credibility, and rapport, entrepreneurs can establish a solid network that leads to valuable partnerships and collaborations.
Furthermore, Alyssa encourages entrepreneurs to embrace technology. The mortgage industry is undergoing significant technological advancements, and entrepreneurs should leverage these innovations to streamline operations, enhance the customer experience, and maintain a competitive edge.
Lastly, Alyssa emphasizes the need for resilience. The mortgage industry can be unpredictable, and entrepreneurs must be prepared to adapt their business strategies and navigate challenges and setbacks with determination and grace.
By adhering to these principles, budding entrepreneurs can lay a strong foundation for their mortgage business and position themselves for long-term success.
