Our guests on SBI TV are Clayton Collins, the CEO, and Jacob Gaffney, the Editor in Chief, of HousingWire. As the authority voice for mortgage and banking news to the finance industry, HousingWire is here today to share the top three trends that you can leverage for your business in 2018.
Clayton, Jacob, Matt Slonaker, and I discuss the top trends and insights from the financial industry that will impact your business this year. Specifically we discuss what HousingWire is seeing in the lending space and the mortgage servicing space.
The interview begins with Clayton and Jacob outlining the top three trends their research and reporters are seeing that business leaders should be paying attention to right now.
“A new issue faced in the mortgage business is getting people to pay their bills. It’s not as easy as it used to be. We’re now 10 years into this recovery, and we’re finally seeing people kind of not paying their bills. Some of these have federal insurance on them. It can be interesting because delinquencies, they’re not spiking, but they’re not staying traditionally as low as they were. They’re rising up and we see, especially with the younger generation, their bill paying trends are completely different.”
“Additionally, consumers will pay their credit card before they pay their mortgage. That’s completely new. The way they’re influenced is totally peer-based, their social media interactions. The other big trend is the alternative credit scoring, moving away from the traditional FICOs. The baby boomers used to live by their score… the sun used to rise and set on their credit score. They would tell their kids, you have to get good credit, but this new generation is playing by a new set of rules.”
Leverage SBI’s How to Make Your Number in 2018 as a guide to act on key trends that impact your business. To download the full transcript in a word document, click here.
This is a captivating show where we turn the tables and have Clayton and Jacob ask the SBI team questions related to how SBI enables and helps clients in financial services. The SBI team provides insight into SBI and share some details about the services we provide and how we typically engage with our clients. The team shares real life scenarios in which SBI can benefit financial services firms, as well as what triggers or compelling events should signal a potential client to seek SBI’s aid. Turn to the 32-minute mark of the video to watch the SBI team discuss what key themes and challenges they’re seeing thus far in the mortgage services vertical for 2018.
The SBI team unpacks the problems and growth scenarios SBI helps to solve in the financial sector:
Matt Slonaker – “I think one of the most common themes that we see in our 2018 pipeline is within the sales strategy. Pricing is the most common theme. You take these service providers that typically have multi products and services that they’re offering. One of the quickest ways to improve the bottom line is to look at your pricing. The pricing projects and the engagements are projected to be a continuing theme for us through 2018.”
Matt Sharrers – “Helping people think about routes to market, not only for people and products, but also messaging and brand awareness is a big output of a segmentation exercise that we do. Which is typically part of that diagnostic that lays the foundation for the client to realize a big opportunity for inside sales, a big opportunity for pricing with this offering, and this market segment. This gives the client a better opportunity for lead generation, to drive marketing into this segment, and set up the deployment mechanism.”
The HousingWire team shares the story of their success by describing what they were trying to accomplish with the transformation of the company, what they expected to gain as a result of the transformation, and the results of the company’s transformation:
Clayton Collins – “We need continuity. We’ve just bought a business. We have to make sure there’s continuity in terms of client service, but we’re a business, so we have to look for growth opportunities simultaneously. The second objective was making sure that we had somebody with the strong digital acumen. As we are a digital first media company, we need somebody who not only can come in and advise our clients on how to properly leverage the HousingWire platform to reach their audiences and improve their company’s sales, but also help me and our marketing team guide the platform forward. We have a core group of leaders and this was a really important role for the long term success and scalability of the company. That’s the situation and opportunity.”
“To protect against disruption in continuity, my opportunity was that we had a thoughtful eight month transition plan. I was able to jump in and work hand in hand with both our previous sales leadership and the account execs, get to know our clients and play an active role in the sales process. As we ultimately identified the right leader for the team, I was able to work hand-in-hand with her and our AEs to work with clients, identify new business opportunities. I firmly subscribe to the hire slow methodology, even if it can be occasionally painful on the candidate side.”
Skip to the 35-minute mark of the video to watch Clayton and Jacob describe the specific steps they took to successfully accomplish HousingWire’s transformation.
If you would like help filling your pipeline with opportunities, SBI’s team of experts can assist. Bring your leadership team to see a hand-picked team of experts in Dallas at , SBI’s executive briefing center.
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