Looking ahead: Interview with Urban Financial CEO Steve McClellan

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[vimeo id=”46053357″ width=”625″ height=”352″]

Urban Financial CEO Steve McClellan Interview

Interview with Urban Financial CEO Steve McClellan

Steve is a wealth of knowledge when it comes to mortgage banking and our industry. See what he has to say about upcoming regulation and what our industry must do now and in the coming years. Watch the video for more details.

1 comment

James E. Veale, CPA, MBT July 23, 2012 at 11:49 am

Shannon,

Great interview!!

Mr. McClelland has a great attitude about putting the senior first. I loved the fact there was not one word about education. It was all about the senior.

Many in the industry are so lost in the education issue they have forgotten our first objective and that is caring for the senior. If we educate because we care about those we serve it will show up in the content of our education and how driven we are to learn.

In my college education I had several profs who had TAs just so there was a cushion between those they taught and themselves. I have read comments over the last few months about the importance of education and yet those same commenters never once spoke about caring for the senior.

I will never forget the fall of 2007 when two different margins were being offered on the monthly adjusting but the expected interest rate on each was still “under the floor.” At a meeting one of our biggest producers jumped up and told us he could sell the higher rate because after all the seniors would make more money from the line of credit that way. When asked about paying it back, he said: “Oh don’t worry about that. It is all in how you educate the borrowers.” That producer was not with us for even a year.

I would rather be putting the senior first and selling with transparency than “educating” seniors into a fog. If we are putting the interests of the seniors first, our educational presentation will show it.

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