Mortgage professionals are stepping up by embracing technology, continuous learning and client-focused service to navigate housing challenges
The number of banks in the US has plummeted over the years, shrinking from 110,000 to just 4,300, according to Mike Miklaus (pictured), founder of Integrity Mortgage. This dramatic shift in the financial landscape shaped his decision to found Integrity Mortgage 28 years ago, seeking independence and a client-focused approach.
“The replacements have been mortgage bankers and now mortgage brokers,” he said. “I realized I didn’t want to retire, but I did want to build a foundation for Integrity’s next generation.”
As the mortgage landscape continues to evolve, staying relevant requires continual learning - something Miklaus prioritizes by surrounding himself with talented professionals. He also believes that availability and flexibility are what set top mortgage professionals apart.
“This industry is a series of progressions; the better you embrace change and invest time in product knowledge, the more successful you become,” he said. “People who work make better borrowers - shocking, right? If I’m available evenings and weekends when they need me, I have a higher chance of being their mortgage advisor.”
Overcoming California’s housing market hurdles
Navigating California’s challenging housing market has been another critical aspect of his work. The state’s median home prices are significantly higher than the national average, with many areas nearing $680,000 - almost double the typical US home cost.
Policy decisions have played a major role in driving these prices up, Miklaus said.
“We have a perfect storm of well-intentioned policy, founded on ignorance, creating a man-made crisis,” he said.
Despite these challenges, he remains focused on solutions. His company leverages technology, AI, and social media to stay ahead.
“We attend Mortgage Mastermind summits as a team. I engage with high-level leaders nationwide and expose my team to those conversations to encourage them to embrace change,” he said. “Our referral base has grown because I embraced tools that I initially didn’t see value in. But once my team showed me, I said, ‘Let’s go, let’s do it’.”
Ultimately, for Miklaus, success in mortgage lending comes down to education, adaptation, authenticity and putting people first.
“We all want our security blanket, and most of us hold onto habits for too long. There’s a fine line between chasing every shiny new penny and knowing when to embrace something that moves you forward,” he said.
“You build your life a brick at a time, a memory at a time, a decision at a time. Helping people make good decisions for their lives requires reflecting on your own life and making good decisions along the way.”
