What To Do When All Hell Breaks Loose…

The storm is a test of the soul of your company.

Copy of New TheMancusoWatch Teaser (19)

Last week we talked about the calm before the storm, because the storm is normally coming. This week let’s look at what happens when all hell breaks loose. “This is when I’m the calmest.”

The first rule: DON’T PANIC!

Extreme focus is required. There is little to no room for error and this is the part where you should be visualizing and preparing for the next steps. If this all sounds matter of fact, it is.

When the borrowers are calling concerned about the contractor who didn’t know to fill out the contingency repair form and blew the terms of the loan, or the underwriter didn’t check if the borrower owned the property, or the market bottoms out (again); this is when you see who’s who.

The storm is a test of the soul of your company.

You learn who’s with you and who’s ready to jump ship at the first sign of trouble. Who gets the vision and who can navigate this time with you to help you find the next calm. Are you being asked for recommendation letters, are the meetings overly contentious?  When you take the temperature of the “Top Four”; consumers, employees, referrals and vendors, is everyone running hot?

For us, the remedy, is being humble and working as a unit. This is the time we ban together and look out for each other. We make the call that may not be ours to make. We go to the customer and knock on the door. We meet with solutions in mind.

We started in the storm, at a time when  Jamie Dimon was blaming brokers, lenders (the risky ones)  and LO’s,  my business partner and I went all in. We took the pulse of our team, they were all in and we’re all still here ten years later.

When it all goes left, remember the first rule and you’ll make it through with everything and everyone you need to weather the next go round.

 

Eddy Perez, CMB

President Equity Prime Mortgage

Leave a Reply