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By robert nolan
president and Ceo
ivyStone Consulting group
How to Manage Stress
understand and overcome stressful situations in the mortgage industry
Everyone reacts differently to stressful situations, and mort- gage professionals are no exception. Whatever the occupation,
stress can affect a person’s job performance, decisionmaking, management
ability and communication. For mortgage professionals, stress can even
have an effect on the quality of their
loan origination — from the underwriting of the loan itself to the efficiency
with which it’s processed.
It’s important for mortgage professionals to know how they react
to stressful situations and how they
can adequately manage that stress,
as well. Whether you’re a loan officer,
broker, banker or manager, there is
much to gain from learning more about
although everyone is different, mortgage professionals tend to share a number of attributes. For instance, because
of their driven personalities, brokers and
originators may have difficulty working
alone, tolerating inefficiency, sitting
through lengthy meetings or dealing
with a lack of response or feedback.
Mortgage professionals tend to focus on the external and deal with their
work in a rational and logical manner.
They are traditionalists who respect
the law and hold themselves to high
standards and belief systems. They frequently can offer a clear vision about
how a certain process or operation
should work and — in this way — they
can serve as natural leaders.
In spite of these excellent qualities,
many mortgage professionals can
still react to stressful situations inadequately. For instance, their preference
for facts and logic can make them feel
isolated from others and, at times, can
cause difficulties in communication.
When stress is present, some originators or officers may have a difficult time
putting their true feelings into words.
Their professional loyalty can make
them skeptical about someone who
wishes to change their company’s traditions or procedures.
If you’re managing a team of mortgage professionals who fit this profile,
you can relax in knowing that they have
their company, colleagues and clients’
best interests at heart. Still, when dealing with potentially stressful situations
such as company changes or reorganization, you must be able to keep stress
levels in check. here are five tips:
1. stick to the facts and work in a
clear and logical way. Do your best
to avoid speaking in generalities.
2. set an established time to talk
with your team members about the
given situation and keep them in
the loop. Thorough communication is key, as is letting them have a
voice in the decisionmaking process
— if they so choose.
3. if your company is undertaking
changes to its processes or opera-
tions, be clear with your employees
about exactly why these changes
are occurring and mention specific
details and facts. Offer a transpar-
ent picture of what is going on and
be precise about any changes in the
company’s guidelines, expectations,
roles and responsibilities. These em-
ployees will likely be expecting clar-
ity when it comes to the decision-
making process, as well as the fair-
ness and impartiality of the changes.
robert nolan is president and cEO of Ivy Stone
consulting Group, which he started in early
2007. Previously, he worked in the mortgage
industry for more than 15 years. IvyStone uses
proven psychological assessments such as
Myers-Briggs Type Indicators to help sales
professionals build relationships. Nolan is
now a certified master practitioner. reach him
at (678) 697-8274 or firstname.lastname@example.org.
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