Leaders in the industry need to be careful about how they approach compliance
Compliance in the mortgage industry has been our greatest challenge over the last decade and, between TRID and HMDA, it isn't getting any easier. We continue to lobby against the ongoing legislation to help the industry become a little freer, in expectations that looser regulations will not only improve the industry but will also improve the economy. But as we fight for a fairer deal for the industry, we as leaders in the mortgage industry need to be careful about how we approach compliance.
As long as the rules are there, we need to be sure we are following them. And not only that, but we need to try to refrain from complaining. It's hard, I know. We feel like we've been given the short end of the stick for far too long now. But the costs of negativity can be high. When we constantly complain about the regulatory environment, members of our team will hear us. While we may never encourage breaking the rules, our complaints may lead others on our team to do so.
One of the most important characteristics of a solid leader is integrity. If you don't have character, you don't have anything. Complaining and spreading negativity, regardless of your situation, is a sign of poor integrity. This perspective can become poisonous and spread quickly to your people. Then, they may fail to keep up with the standards – and even believe they're doing the right thing. Never let your people hear you complain about the regulations. Fight them through the right channels, but follow the rules to the "t" until you can get them changed.
As long as the rules are there, we need to be sure we are following them. And not only that, but we need to try to refrain from complaining. It's hard, I know. We feel like we've been given the short end of the stick for far too long now. But the costs of negativity can be high. When we constantly complain about the regulatory environment, members of our team will hear us. While we may never encourage breaking the rules, our complaints may lead others on our team to do so.
One of the most important characteristics of a solid leader is integrity. If you don't have character, you don't have anything. Complaining and spreading negativity, regardless of your situation, is a sign of poor integrity. This perspective can become poisonous and spread quickly to your people. Then, they may fail to keep up with the standards – and even believe they're doing the right thing. Never let your people hear you complain about the regulations. Fight them through the right channels, but follow the rules to the "t" until you can get them changed.
