Search for a “yes” answer for each mortgage loan file

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Mortgage transactions have been an important component of every lender’s strategy for 2020, leaving housing professionals struggling in a volatile market.

As Chief Operating Officer at Waterstone mortgage, Rich Tucker is no stranger to last year’s troubles as he led his team through record-breaking months. Shortly after his promotion from Senior Vice President of Lending to Chief Operating Officer, Tucker received the 2020 HousingWire Award. HW Insiders reward. HW Insiders recognizes Housing Organizational Stars who are helping their organizations succeed behind the scenes.

We’ve reached out to Tucker to learn more about the role the operations team has played at Waterstone over the past year and to see what he’s aiming for in the near future.

HousingWire: What role do operations teams play at Waterstone in achieving the company’s mission?

Rich Tucker: Our lending team plays a key role in our success as a company. We encourage ongoing communication between our lenders, loan processors and our underwriters – ensuring that we continue to follow our vision to find a way to answer yes to each mortgage loan file. During 2020, this collaboration became even more important as our business grew and we had many employees working remotely. Our lending team members have worked hard to close our loans on time, which has enabled us to help more than 19,000 families and individuals complete their home purchases or refinances.

HW: When you think about operational excellence, what KPIs are you targeting in the near future?

RT: In the future, we will continue to focus on buying, which has been the cornerstone of our business model. According to ICE Mortgage Technology Origination Insight, we consistently close our purchase loans nine to ten days earlier than other lenders. We will continue to build on this momentum and maintain reduced queue times. This allows us to remain competitive in the industry and ensures that our borrowers and business partners have a positive and optimized mortgage lending experience.

Nominations for 2021 Insiders HW closes on Friday 25 June. Click here nominate someone today!

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