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W O R L D
M A G A Z I N E
VOL
12
I
ISSUE
02
I
2023
“Since joining Orbis,
Carmen has
collaborated with the
CEO and various
department leaders to
assess and enhance the
existing technological
processes.”
Guiding Excellence:
Carmen
Patraccone's
Leadership Perspective
Carmen
Patraccone's
The Most
Admired
Women
Leaders in
Industry
2023
Mortgage
The Most
Admired
Women
Leaders in
Industry
2023
Mortgage
Carmen Patraccone,
Vice President of
Sales & Operations
Orbis Mortgage
Group
Empowered women lead
with grace, resilience and
a vision that lights the
way for all
#womenworldmagazine
EDITORS
View
An Epitome of Outstanding Attributes
- Lewis oper
he mortgage industry has long been a predominantly male-dominated field. However,
Tover the years, numerous remarkable women have broken barriers and made significant
contributions to the industry's growth and development. These exceptional women have
not only shattered glass ceilings but have also revolutionized the way the mortgage industry
operates, inspiring countless others along the way.
The mortgage industry is undergoing rapid transformation, driven by technological
advancements, changing customer preferences, and evolving regulatory landscapes. Within this
dynamic environment, the most influential women in the mortgage industry have demonstrated
exceptional leadership, innovation, and a commitment to driving positive change. They have
championed diversity and inclusion, fostering a more inclusive industry that embraces the
talents and perspectives of women.
These women have held influential positions in various sectors of the mortgage industry,
including mortgage lending, banking, technology, compliance, and regulatory affairs. Their
expertise, knowledge, and strategic vision have shaped the industry's trajectory and propelled it
into new frontiers. From implementing groundbreaking digital mortgage solutions to
advocating for fair lending practices, these women have left an indelible mark on the mortgage
industry and have become role models for aspiring professionals.
WomenWorld Magazine highlights the qualities of leadership, resilience, and innovation of the
leaders who have demonstrated exceptional skills in navigating the complexities of the industry,
adapting to change, and driving transformative initiatives. Their accomplishments have earned
her recognition and respect from her peers, industry experts, and stakeholders.
Through this edition, "The Most Admired Women Leaders In Mortgage Industry, 2023," we will
delve into the achievements, leadership strategies, and contributions of adept women leaders in
the mortgage industry. Through their inspiring journey, we will gain insights into the qualities
and characteristics that have propelled her to the pinnacle of success in the industry. Their
stories serve as a testament to the incredible talent and potential that women leaders bring to
the mortgage industry and pave the way for a more inclusive and diverse future.
As we explore the achievements, we celebrate accomplishments and acknowledge the
significant strides women are towards shaping the industry's landscape. Their leadership, vision,
and dedication serve as an inspiration to current and future professionals in the mortgage
industry, illustrating the possibilities that can be achieved through perseverance, innovation,
and a commitment to excellence.
18
24
Skills and Traits
Developing Leadership Skills
in the Mortgage Industry
Attributes of Innovators
Understanding the Effec ve Leadership
Strategies for the Mortgage Industry
20
A
r
t
i
c
l
e
s
Guiding Excellence:
Carmen
Patraccone's
Leadership Perspective
Carmen
Patraccone's
Cover story
December, 2023
David Smith
Brief
Company Name
Featured Person
Under Carmen's leadership, the company has set the bar for
exceptional service in the mortgage industry, earning trust and
loyalty from clients
Julie has played a pivotal role in upholding GR’s commitment to
brilliance.
Mona is passionate in bringing meaning and create lasting
impact for her clients.
Nicola is a multiple award winning Leader and Mentor who is
passionate about driving the best customer, colleague and
shareholder outcomes.
As a loan officer with Wintrust Mortgage, Tammy has the
expertise and experience to get you the right mortgage and to
handle your transaction professionally.
Groupe Orbis
groupeorbis.com
Guaranteed Rate
guaranteedrate.com
Bay Equity, LLC
bayequityhomeloans.com
Virgin Money
uk.virginmoney.com
Wintrust Mortgage
Corporation
wintrustmortgage.com
Carmen Patraccone
Vice President of Sales
and Operations
Julie Teitel
VP of Mortgage
Lending
Mona Edick
Area Sales Manager
Nicola Goldie
Head of National
Accounts
Tammy McNeany
Senior Mortgage Loan
Officer
The Most
Admired
Women
Leaders in
Industry
2023
Mortgage
The Most
Admired
Women
Leaders in
Industry
2023
Mortgage
Guiding Excellence:
Carmen
Patraccone's
Leadership Perspective
t the helm of Orbis Mortgage Group, Carmen
APatraccone champions a culture of high-
performance teams that impacts strong
customer service. Carmen Patraccone is synonymous
with high standards. As the Vice President of Sales &
Operations, she upholds a commitment to excellence
that permeates every aspect of Orbis Mortgage Group.
Under Carmen's leadership, the company has set the
bar for exceptional service in the mortgage industry,
earning trust and loyalty from clients.
Throughout her career, Carmen has had the privilege of
leading and making a significant impact on a high-
performing team of mortgage specialists. Prior to this,
she held a leadership position at a major national bank
overseeing 15 branches with 140-200 employees,
demonstrating her prowess in full P&L responsibility.
Her deep industry knowledge and banking experience
extends to managing expense and employee budgets,
showcasing a comprehensive understanding of financial
operations.
Carmen's strengths lie in various facets of the financial
industry, including consumer lending, mortgages, retail
financial services, investment advice, and insurance.
Her exceptional interpersonal skills enable her to
develop and foster both internal and external business
relationships, contributing to the overall success of her
teams.
A guiding motto has been the cornerstone of Carmen's
success: "Do not get derailed." This philosophy propels
her forward, keeping her focus on goals and
maintaining discipline in the execution of actions
required for any task or situation. Carmen's unwavering
determination has not only resulted in top-ranking
financial performance but also in exceptional employee
engagement throughout her career.
Early Career in Finance and Mentoring
Carmen's journey in finance began at the young age of
16, when she had the opportunity to start from the
ground up, gaining valuable insights into the banking
industry. Recognizing the potential for professional
growth in the finance world from the outset, Carmen
set her sights on achieving an executive-level position.
Throughout the years, she was fortunate to work
diligently with exceptional mentors who served as
coaches, guiding her towards the attainment of her
goals.
Carmen is deeply humbled and honored to be
acknowledged as one of the most admired women in
the mortgage category. Orbis Mortgage Group boasts a
robust senior female-driven leadership team that has
developed organically over the years. The recognition
in this category is something she will celebrate proudly
with her incredibly talented and hard-working peers.
Carmen takes pride in having served as a mentor
herself during her tenure at one of Canada's major
banks. Notably, one of her mentees went on to
establish Orbis Mortgage Group, now recognized as
one of the fastest-growing independent brokerages in
Quebec.
Being VP of Sales and Operations
As the Vice President of Sales and Operations at Orbis
Mortgage Group, Carmen undertook an initial
assessment of the company's status. Collaborating
closely with CEO Teddy Kyres, she delved into his
vision and growth ambitions for the organization.
With well-defined objectives in mind, Carmen played a
pivotal role in crafting strategic coaching programs for
mortgage brokers. She also contributed to the training
program of new brokers in the industry and actively
participated in the recruitment processes for both
mortgage brokers and executive team members.
Simultaneously, Carmen dedicated effort to reviewing
and refining various departmental structures and
processes.
In tandem with the CEO, Carmen witnessed
remarkable company growth over the last 30 months,
attributed to the implementation of these new systems
and strategies.
Evolving with Change
Carmen observes that the mortgage industry is
undergoing significant changes across various facets,
ranging from the ease of obtaining mortgage approvals
through technology to the prevailing rate environment
and beyond. The recent fluctuations in the cost of living
have had a pronounced impact, prompting many
individuals to question their ability to afford their first
home or contemplate upgrading from their current
residence.
In light of these developments, Carmen emphasizes the
crucial role of a mortgage broker. Beyond navigating
the evolving landscape, brokers are tasked with
offering advice and guidance to their clients,
considering the myriad of lenders options available to
achieve specific home financing goals. Regardless of the
industry's continual evolution, Carmen firmly believes
that the enduring responsibility of a broker is to
staunchly advocate on behalf of their clients.
Empowering Teams to Achieve Success
Reflecting on her experiences, Carmen highlights the
gratification derived from coaching and mentoring
numerous employees with untapped potential.
Witnessing these individuals elevate their businesses
to unforeseen heights has been particularly rewarding
for her.
Carmen is a firm believer in the potential of others and
actively supports their visions. She takes pride in
Carmen is a rm
believer in the
potential of others
and actively supports
their visions.
“
“
guiding them toward greater efficiency and a laser-
focused approach in expanding their respective
businesses.
Notably, Orbis Mortgage Group's CEO, Teddy Kyres,
was once part of Carmen's team in her previous
business endeavors. During that time, Carmen provided
coaching on business structure, processes, and
administrative tasks, contributing to Teddy's success as
a top mortgage specialist in Canada.
This collaborative success story laid the foundation for
the establishment of Orbis Mortgage Group, an
accomplishment that Carmen is immensely proud to be
part of. Reuniting with Teddy, Carmen feels privileged
to stand by his side once again, playing a role in shaping
the future growth of the company, with limitless
possibilities on the horizon.
Forming a Supportive Leadership Culture
In her role as a leader, Carmen places utmost
importance on demonstrating unwavering support for
Carmen has had the
privilege of leading and
making a signicant
impact on a high-
performing team of
mortgage Specialists &
Brokers.
“
“
each member of the team. She believes in creating an
environment where team members feel that she stands
behind them, both in times of success and adversity.
She asserts, "I hope my colleagues view me as a very firm
and fair leader; focused, supportive and passionate in my
leadership style. I am most proud when I see a team
member succeed in their personal growth, as this to me is
the ultimate indication of being a successful leader.”
In the face of challenges, Carmen's leadership approach
involves a focus on analyzing the root cause of
problems rather than assigning blame. Collaboratively,
the team works towards identifying positive solutions.
Following such situations, Carmen engages in coaching
sessions with employees, encouraging them to reflect
on the lessons learned and consider alternative
approaches for the future.
This supportive leadership style fosters an atmosphere
of open communication, allowing team members to
thrive in a positive environment where the
management team is perceived as a supportive partner
rather than an authoritative figure. Carmen views this
approach as a valuable learning and growth experience
for all involved.
Impact on Orbis Mortgage Group
Since joining Orbis, Carmen has collaborated with the
CEO and various department leaders to assess and
enhance the existing technological processes. In
response to Orbis's continuous growth, Carmen has
overseen the evolution of various elements, including
the training process for new brokers, recruitment
efforts for both mortgage brokers and executive team
members and the refinement of departmental
structures and processes.
In individual coaching and mentoring sessions with
brokers, Carmen places a strong emphasis on refining
customer service. Acknowledging the self-employed
nature of each broker, she guides them in maintaining a
Carmen dedicates time to reading,
consistently staying informed about new
trends, varying mindsets across
generations, and the evolving concepts
and tactics of effective leadership in
response to the expectations of the
current workforce.
“
“
focus on obtaining customer satisfaction reviews and
implementing various customer appreciation tactics.
Additionally, Carmen supports brokers in nurturing
relationships with referral sources to foster business
growth.
Orbis has a substantial focus on both digital and in-
person outreach. Brokers are encouraged to leverage
social media channels for business development, attend
social events to market their brand and Orbis within
the industry, and target specific customer segments.
These strategic activities have yielded a tremendously
positive impact for Orbis and its team. Notably, the
company is regularly approached by industry members
seeking to understand its business model and the
reasons behind its rapid growth.
The Evolving Landscape
Recognizing the significance of maintaining a healthy
work-life balance, Carmen emphasizes the importance
of taking occasional breaks from work, emphasizing
that a rested mind is a sharper mind.
Actively encouraging her team members to utilize their
vacation time, Carmen goes a step further by
advocating for the integration of health and wellness
mechanisms into daily routines. Whether it's a brisk
walk, quality family time, a workout, or simply enjoying
music, she encourages brokers to identify techniques
that not only enhance their effectiveness but also
contribute to long-term well-being and happiness.
Carmen personally adheres to a practice that
underscores the importance of disconnecting, as she
refrains from bringing her cell phone to bed. She shares
this simple yet effective technique with her team,
promoting the idea that establishing boundaries with
technology can contribute to a more restful and
rejuvenating sleep.
Leadership Advice for Mortgage Leaders
As part of her morning routine, Carmen dedicates time
to reading, consistently staying informed about new
trends, varying mindsets across generations, and the
evolving concepts and tactics of effective leadership in
response to the expectations of the current workforce.
This commitment ensures that she remains current and
can share up-to-date knowledge with her team,
contributing to her coaching and leadership
capabilities.
For aspiring professionals, particularly women seeking
leadership roles in the mortgage industry, Carmen
offers valuable advice:
Ÿ Do not be derailed.
Ÿ Don't ever allow the negativity of others to impact
you.
Ÿ Keep your head down and keep grinding, improving
your skills, abilities, and work ethic, and growing as
an individual. Other people's negativity is none of
your business.
Ÿ Remain disciplined and focused on the execution of
your plan to achieve your goals, be passionate and
supportive of your peers in every action you take;
and remain humble at all times.
Ÿ Remember nothing is perfect in life; to error is
human, how we react to our errors is what makes us
better and defines us over time.
Carmen's advice reflects a blend of resilience, focus,
and a positive mindset, providing a guiding philosophy
for those aspiring to leadership roles in the mortgage
industry.
n the fast-paced and competitive mortgage industry,
Ieffective leadership is crucial for driving success
and ensuring organizational growth. Leaders in this
field must possess a unique set of skills and strategies
to navigate the complexities of the industry, inspire
their teams, and achieve exceptional results. This article
explores key principles and strategies that contribute
to effective leadership in the mortgage industry,
providing insights and guidance for professionals
looking to excel in their roles.
Visionary Leadership
Effective leaders in the mortgage industry have a clear
vision of where they want their organization to go. They
develop a compelling vision statement that aligns with
the company's values and long-term goals. By
effectively communicating this vision to their team,
leaders create a sense of purpose and inspire
commitment. A visionary leader motivates their team
to work towards a common goal and adapts their
strategies to meet the ever-evolving needs of the
industry.
Adaptability and Agility
Leaders in the mortgage industry must be adaptable
and agile in response to changing market conditions,
regulatory requirements, and customer demands. They
stay informed about industry trends, technology
advancements, and policy changes to proactively adjust
their strategies. By fostering a culture of flexibility and
encouraging innovative thinking, leaders can navigate
challenges and seize opportunities as they arise.
Building High-performing Teams
One of the hallmarks of effective leadership in the
mortgage industry is the ability to build and nurture
high-performing teams. Leaders should focus on hiring
top talent, creating a diverse and inclusive work
environment, and providing ongoing training and
development opportunities. They empower their team
members, delegate responsibilities, and encourage
collaboration to maximize individual strengths and
create a cohesive unit that delivers exceptional results.
Effective Communication
Communication is a fundamental aspect of effective
leadership. Mortgage industry leaders must be skilled
communicators, capable of conveying complex
information clearly and concisely. They actively listen
to their team members, clients, and stakeholders,
ensuring open and transparent communication
channels. Leaders should foster a culture that
encourages feedback, addresses concerns, and
promotes effective collaboration throughout the
organization.
Ethical and Responsible Leadership
Integrity and ethical conduct are critical for effective
leadership in the mortgage industry. Leaders must
adhere to industry regulations and ethical standards,
ensuring fair and transparent practices. By setting an
example of ethical behavior and instilling a culture of
integrity, leaders build trust and credibility within their
organizations and with clients. They make decisions
that align with the best interests of their clients,
employees, and stakeholders, fostering long-term
relationships and sustainable growth.
Continuous Learning and Professional Development
Leadership development is an ongoing process, and
effective leaders in the mortgage industry prioritize
continuous learning and professional development.
They stay informed about industry trends, attend
conferences and seminars, and seek out opportunities
for personal growth. By investing in their own
development, leaders can stay ahead of the curve,
adapt to industry changes, and inspire their teams to
embrace a learning mindset.
Effective leadership in the mortgage industry requires a
combination of visionary thinking, adaptability, team
building, effective communication, ethical conduct, and
a commitment to continuous learning. By incorporating
these strategies into their leadership approach,
professionals can navigate the challenges of the
industry, inspire their teams, and drive success for their
organizations. Ultimately, effective leadership sets the
foundation for sustainable growth and long-term
success in the dynamic and ever-evolving mortgage
industry.
Dec 2023 | 18 | womenworldmagazine.com
Attributes of Innovators
Understandingthe
Effective Leadership
Strategiesforthe
Mortgage Industry
Dec 2023 | 19 | womenworldmagazine.com
Julie Teitel
VP of Mortgage Lending
Guaranteed Rate
I believe that
we should all
choose a
profession
that mo vates
us to wake up
every morning
with a
profound
sense of
wonder and
curiosity, then
CARPE DIEM!
“
“
Dec 2023 | 20 | womenworldmagazine.com
The Most Admired Women Leaders In Mortgage Industry, 2023
T
he world of mortgage lending and financial
services is a complex and ever-changing one. It
encompasses a wide range of activities, from
originating and servicing mortgages to providing
financial advice and investment products.
Guaranteed Rate (GR) stands out as an ideal example
of efficiency and reliability in this domain. It is a name
synonymous with expeditious approvals and dream
home aspirations. GR has carved a remarkable niche for
itself in the industry with a commitment to getting
borrowers approved in as little as one day setting a new
standard for excellence.
Imagine a scenario where a client walks into the
complex labyrinth of mortgage options, requirements
and paperwork. They're filled with aspirations of
purchasing their dream home but are daunted by the
intricate web of financial intricacies. This is where Julie
Teitel steps in, armed not only with the company's
impressive track record but also with her own
formidable expertise.
In the vast landscape of Financial Services, where every
decision counts, Julie has played a pivotal role in
upholding GR’s commitment to brilliance. Being the
Vice President of Mortgage Lending at GR, Julie
navigates the intricate maze of mortgage processes,
regulations and market trends and has been
instrumental in helping countless individuals find their
way home.
Let’s delve into Julie’s dedication to excellence, combined
with the company's commitment to speedy approvals and
comprehensive service creating a synergy that's hard to find
elsewhere!
Julie, please briefly describe to our audience your
professional journey up until now.
When I started in 1991, my goal was simply to fund my
horse habit. I loved showing horses, but this passion
came with a price tag. My father owned a mortgage
bank in Maryland and while I was in college, he invited
me to come work as a loan officer at his bank.
Being the strongly independent middle child that I was,
I told him that I needed to move to NYC and start the
mortgage business on my own and then come back and
help him take over the bank.
With my parent's support, I moved to NYC, but after
several months with no commission, they were ready
for me to come back to the security of Dad’s business. I
asked for one more month and the rest is history.
I spent the next three decades as a top-producing loan
officer in NYC. My dad sold his business while I was
working in NYC and now, I am back in MD assisting
homebuyers in both states and many other states as
well.
What challenges did you face along the way?
During the 1990s the mortgage industry thrived, but
not many people I knew were doing mortgages and
there were definitely fewer female loan officers at that
time. This set me apart from the rest, so what could
have been perceived as a challenge, I used it to my
advantage and turned it into an opportunity to stand
out.
More challenging for me back then and now is staying
technologically relevant within the industry.
Fortunately, my current company, GRI, is exceptional at
taking the lead in adopting and implementing cutting-
edge technology and training.
Undoubtedly, the prevailing challenge is the present
market environment. As rates rise and the competition
gets tougher with guidelines tightening and some banks
closing their doors to mortgage lending, it is more
important than ever to be at the top of your game and
with the right company. By having the ability to offer
Dec 2023 | 21 | womenworldmagazine.com
diverse programs, the best technology and amazing
service, I recognize it is time to truly showcase my
capabilities.
What significant impact have you brought to the
industry?
I feel as if I have been able to make borrowers feel good
and know that there is always a way to find a mortgage
for their dream home—maybe if you have to shift to a
stated income or asset depletion and put down more
money, I believe there is always a way to obtain a
mortgage. I also feel like I act as a mortgage therapist
for several clients when they are feeling emotional and
overwhelmed.
Tell us about Guaranteed Rate and its foundation
pillar.
GRI is committed to revolutionizing the home loan
process by offering consumers a digital experience so
advanced that we can consistently close loans the
fastest in the industry while providing world-class
customer service, reflected by our net promoter score
of 95 or better. We have a mission to be the #1 retail
mortgage lender in the country and in the first half of
2023 we ranked #2.
How does Guaranteed Rate promote workforce
flexibility and what is your role in the company?
Hands down! Guaranteed Rate is the best with
technology and is also incredibly supportive. I feel
encouraged to move ahead in an environment where
my company encourages team play and is all about
supporting their loan officers. Everyone is committed to
working together and fully engaged in being part of my
success.
What is your take on technological importance and
how are you leveraging it?
In today’s environment, it is extremely important. As I
mentioned, I have been kicking and screaming for
decades to fight the evolution of mortgage technology
and tried my best to remain a dinosaur, but with the
help of Guaranteed Rate.
I am now running with cutting-edge technology in
today’s mortgage environment. This commitment
ensures I remain aligned with the technological trends
and continue to offer top-tier service, setting standards
that benefit my clients.
What will be the next significant change in the
industry and how are you preparing for it?
When Guaranteed Rate introduced the world’s first
fully digital mortgage in 2015, it revolutionized the
industry. Now, with Smart Underwrite, we can continue
to expedite and streamline the process for both our
customers and real estate agents.
The real-time automation offered by Smart Underwrite
is a driving force behind our recently unveiled Same
Day Mortgage platform, which enables borrowers to
receive same-day approvals.
This technology will not only improve the speed at
which we can close loans for our customers but also the
accuracy and consistency of underwriting, which will
result in exceptional overall customer satisfaction.
What are your goals in the upcoming future?
Over the upcoming two years, my objective is to turn
challenges into opportunities. I tend to thrive in difficult
situations and I’m determined to take a proactive
stance and make the most of this time.
Developing relationships with realtors, assisting the
aging population stay in homes while living
comfortably—Reverse mortgage and maybe trying to
go back to the initial career path, by including my father
in reverse seminars.
What advice would you like to give the next
generation of aspiring business leaders?
I would advise them that hard work does pay off. I
believe that we should all choose a profession that
motivates us to wake up every morning with a profound
sense of wonder and curiosity, then Carpe Diem!
Dec 2023 | 22 | womenworldmagazine.com
Dec 2023 | 23 | womenworldmagazine.com
Skills and Traits
Dec 2023 | 24 | womenworldmagazine.com
Developing Leadership
Skillsinthe
Mortgage Industry
eadership skills play a crucial role in the mortgage
Lindustry, where professionals are tasked with
guiding clients through the complex process of
securing loans for their dream homes. The ability to
lead and inspire a team, make strategic decisions, and
adapt to the ever-changing market dynamics is
paramount for success in this field. This article explores
the key aspects of developing leadership skills in the
mortgage industry, providing a roadmap to help
professionals excel in their roles and navigate the
challenges they may encounter.
Embrace Continuous Learning
Leadership development starts with a commitment to
lifelong learning. Mortgage industry leaders must stay
abreast of the latest trends, regulations, and
technological advancements shaping the industry.
Attend conferences, seminars, and workshops to
expand your knowledge base and encourage your team
to do the same. By continuously learning and updating
your skills, you'll be better equipped to make informed
decisions and lead effectively.
Dec 2023 | 25 | womenworldmagazine.com
Cultivate Effective Communication
Communication is the bedrock of successful leadership.
As a mortgage industry leader, you need to
communicate clearly and effectively with clients, team
members, and stakeholders. Develop active listening
skills, learn to articulate ideas concisely, and foster an
open and transparent communication culture within
your team. Regularly provide constructive feedback,
actively seek input from others, and ensure everyone
understands the vision and goals of the organization.
Foster a Collaborative Culture
In the mortgage industry, teamwork is essential for
achieving shared goals. As a leader, it is your
responsibility to foster a collaborative environment
where individuals can thrive and contribute their best.
Encourage teamwork, establish clear roles and
responsibilities, and promote a culture of mutual
respect and support. By leveraging the strengths of
each team member, you can create a cohesive unit that
delivers exceptional results.
Develop Strategic Thinking
Leaders in the mortgage industry must possess
strategic thinking abilities to navigate a rapidly
changing landscape. Stay informed about economic
trends, market conditions, and regulatory changes that
may impact the industry. Anticipate challenges and
proactively develop strategies to address them. Foster
an environment that encourages innovation and
creative problem-solving and empower your team to
think critically and propose solutions.
Lead by Example
Leadership is not just about delegating tasks; it is about
setting an example for others to follow. Demonstrate
integrity, accountability, and professionalism in your
work. Be accessible and approachable and show
empathy towards your team members and clients. By
embodying the qualities, you expect from others, you
inspire trust and loyalty, and your team will be
motivated to perform at their best.
Invest in Leadership Development Programs
Take advantage of leadership development programs
tailored specifically for the mortgage industry. These
programs provide valuable insights, training, and
networking opportunities to enhance your leadership
skills. Seek out industry associations, professional
development organizations, and reputable training
providers that offer programs focused on leadership in
the mortgage industry. By investing in your professional
growth, you position yourself for long-term success.
Developing leadership skills in the mortgage industry is
a continuous journey that requires a commitment to
learning, effective communication, collaboration,
strategic thinking, and leading by example.
By embracing these key aspects and investing in your
development, you can navigate the challenges of the
industry, inspire your team, and drive success in your
organization. Remember, leadership is not just about
personal achievement but also about empowering
others to reach their full potential.
Dec 2023 | 26 | womenworldmagazine.com
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The Most Admired Women Leaders in Mortgage Industry, 2023.pdf

  • 1. W O R L D M A G A Z I N E VOL 12 I ISSUE 02 I 2023 “Since joining Orbis, Carmen has collaborated with the CEO and various department leaders to assess and enhance the existing technological processes.” Guiding Excellence: Carmen Patraccone's Leadership Perspective Carmen Patraccone's The Most Admired Women Leaders in Industry 2023 Mortgage The Most Admired Women Leaders in Industry 2023 Mortgage Carmen Patraccone, Vice President of Sales & Operations Orbis Mortgage Group
  • 2. Empowered women lead with grace, resilience and a vision that lights the way for all
  • 5. An Epitome of Outstanding Attributes - Lewis oper he mortgage industry has long been a predominantly male-dominated field. However, Tover the years, numerous remarkable women have broken barriers and made significant contributions to the industry's growth and development. These exceptional women have not only shattered glass ceilings but have also revolutionized the way the mortgage industry operates, inspiring countless others along the way. The mortgage industry is undergoing rapid transformation, driven by technological advancements, changing customer preferences, and evolving regulatory landscapes. Within this dynamic environment, the most influential women in the mortgage industry have demonstrated exceptional leadership, innovation, and a commitment to driving positive change. They have championed diversity and inclusion, fostering a more inclusive industry that embraces the talents and perspectives of women. These women have held influential positions in various sectors of the mortgage industry, including mortgage lending, banking, technology, compliance, and regulatory affairs. Their expertise, knowledge, and strategic vision have shaped the industry's trajectory and propelled it into new frontiers. From implementing groundbreaking digital mortgage solutions to advocating for fair lending practices, these women have left an indelible mark on the mortgage industry and have become role models for aspiring professionals. WomenWorld Magazine highlights the qualities of leadership, resilience, and innovation of the leaders who have demonstrated exceptional skills in navigating the complexities of the industry, adapting to change, and driving transformative initiatives. Their accomplishments have earned her recognition and respect from her peers, industry experts, and stakeholders. Through this edition, "The Most Admired Women Leaders In Mortgage Industry, 2023," we will delve into the achievements, leadership strategies, and contributions of adept women leaders in the mortgage industry. Through their inspiring journey, we will gain insights into the qualities and characteristics that have propelled her to the pinnacle of success in the industry. Their stories serve as a testament to the incredible talent and potential that women leaders bring to the mortgage industry and pave the way for a more inclusive and diverse future. As we explore the achievements, we celebrate accomplishments and acknowledge the significant strides women are towards shaping the industry's landscape. Their leadership, vision, and dedication serve as an inspiration to current and future professionals in the mortgage industry, illustrating the possibilities that can be achieved through perseverance, innovation, and a commitment to excellence.
  • 6. 18 24 Skills and Traits Developing Leadership Skills in the Mortgage Industry Attributes of Innovators Understanding the Effec ve Leadership Strategies for the Mortgage Industry 20 A r t i c l e s
  • 9. Brief Company Name Featured Person Under Carmen's leadership, the company has set the bar for exceptional service in the mortgage industry, earning trust and loyalty from clients Julie has played a pivotal role in upholding GR’s commitment to brilliance. Mona is passionate in bringing meaning and create lasting impact for her clients. Nicola is a multiple award winning Leader and Mentor who is passionate about driving the best customer, colleague and shareholder outcomes. As a loan officer with Wintrust Mortgage, Tammy has the expertise and experience to get you the right mortgage and to handle your transaction professionally. Groupe Orbis groupeorbis.com Guaranteed Rate guaranteedrate.com Bay Equity, LLC bayequityhomeloans.com Virgin Money uk.virginmoney.com Wintrust Mortgage Corporation wintrustmortgage.com Carmen Patraccone Vice President of Sales and Operations Julie Teitel VP of Mortgage Lending Mona Edick Area Sales Manager Nicola Goldie Head of National Accounts Tammy McNeany Senior Mortgage Loan Officer The Most Admired Women Leaders in Industry 2023 Mortgage The Most Admired Women Leaders in Industry 2023 Mortgage
  • 11.
  • 12. t the helm of Orbis Mortgage Group, Carmen APatraccone champions a culture of high- performance teams that impacts strong customer service. Carmen Patraccone is synonymous with high standards. As the Vice President of Sales & Operations, she upholds a commitment to excellence that permeates every aspect of Orbis Mortgage Group. Under Carmen's leadership, the company has set the bar for exceptional service in the mortgage industry, earning trust and loyalty from clients. Throughout her career, Carmen has had the privilege of leading and making a significant impact on a high- performing team of mortgage specialists. Prior to this, she held a leadership position at a major national bank overseeing 15 branches with 140-200 employees, demonstrating her prowess in full P&L responsibility. Her deep industry knowledge and banking experience extends to managing expense and employee budgets, showcasing a comprehensive understanding of financial operations. Carmen's strengths lie in various facets of the financial industry, including consumer lending, mortgages, retail financial services, investment advice, and insurance. Her exceptional interpersonal skills enable her to develop and foster both internal and external business relationships, contributing to the overall success of her teams. A guiding motto has been the cornerstone of Carmen's success: "Do not get derailed." This philosophy propels her forward, keeping her focus on goals and maintaining discipline in the execution of actions required for any task or situation. Carmen's unwavering determination has not only resulted in top-ranking financial performance but also in exceptional employee engagement throughout her career. Early Career in Finance and Mentoring Carmen's journey in finance began at the young age of 16, when she had the opportunity to start from the ground up, gaining valuable insights into the banking industry. Recognizing the potential for professional growth in the finance world from the outset, Carmen set her sights on achieving an executive-level position. Throughout the years, she was fortunate to work diligently with exceptional mentors who served as coaches, guiding her towards the attainment of her goals. Carmen is deeply humbled and honored to be acknowledged as one of the most admired women in the mortgage category. Orbis Mortgage Group boasts a robust senior female-driven leadership team that has developed organically over the years. The recognition in this category is something she will celebrate proudly with her incredibly talented and hard-working peers. Carmen takes pride in having served as a mentor herself during her tenure at one of Canada's major banks. Notably, one of her mentees went on to establish Orbis Mortgage Group, now recognized as one of the fastest-growing independent brokerages in Quebec. Being VP of Sales and Operations As the Vice President of Sales and Operations at Orbis Mortgage Group, Carmen undertook an initial assessment of the company's status. Collaborating closely with CEO Teddy Kyres, she delved into his vision and growth ambitions for the organization. With well-defined objectives in mind, Carmen played a pivotal role in crafting strategic coaching programs for mortgage brokers. She also contributed to the training program of new brokers in the industry and actively participated in the recruitment processes for both mortgage brokers and executive team members. Simultaneously, Carmen dedicated effort to reviewing and refining various departmental structures and processes. In tandem with the CEO, Carmen witnessed remarkable company growth over the last 30 months, attributed to the implementation of these new systems and strategies. Evolving with Change Carmen observes that the mortgage industry is undergoing significant changes across various facets, ranging from the ease of obtaining mortgage approvals through technology to the prevailing rate environment and beyond. The recent fluctuations in the cost of living have had a pronounced impact, prompting many individuals to question their ability to afford their first home or contemplate upgrading from their current residence.
  • 13. In light of these developments, Carmen emphasizes the crucial role of a mortgage broker. Beyond navigating the evolving landscape, brokers are tasked with offering advice and guidance to their clients, considering the myriad of lenders options available to achieve specific home financing goals. Regardless of the industry's continual evolution, Carmen firmly believes that the enduring responsibility of a broker is to staunchly advocate on behalf of their clients. Empowering Teams to Achieve Success Reflecting on her experiences, Carmen highlights the gratification derived from coaching and mentoring numerous employees with untapped potential. Witnessing these individuals elevate their businesses to unforeseen heights has been particularly rewarding for her. Carmen is a firm believer in the potential of others and actively supports their visions. She takes pride in Carmen is a rm believer in the potential of others and actively supports their visions. “ “
  • 14. guiding them toward greater efficiency and a laser- focused approach in expanding their respective businesses. Notably, Orbis Mortgage Group's CEO, Teddy Kyres, was once part of Carmen's team in her previous business endeavors. During that time, Carmen provided coaching on business structure, processes, and administrative tasks, contributing to Teddy's success as a top mortgage specialist in Canada. This collaborative success story laid the foundation for the establishment of Orbis Mortgage Group, an accomplishment that Carmen is immensely proud to be part of. Reuniting with Teddy, Carmen feels privileged to stand by his side once again, playing a role in shaping the future growth of the company, with limitless possibilities on the horizon. Forming a Supportive Leadership Culture In her role as a leader, Carmen places utmost importance on demonstrating unwavering support for Carmen has had the privilege of leading and making a signicant impact on a high- performing team of mortgage Specialists & Brokers. “ “
  • 15. each member of the team. She believes in creating an environment where team members feel that she stands behind them, both in times of success and adversity. She asserts, "I hope my colleagues view me as a very firm and fair leader; focused, supportive and passionate in my leadership style. I am most proud when I see a team member succeed in their personal growth, as this to me is the ultimate indication of being a successful leader.” In the face of challenges, Carmen's leadership approach involves a focus on analyzing the root cause of problems rather than assigning blame. Collaboratively, the team works towards identifying positive solutions. Following such situations, Carmen engages in coaching sessions with employees, encouraging them to reflect on the lessons learned and consider alternative approaches for the future. This supportive leadership style fosters an atmosphere of open communication, allowing team members to thrive in a positive environment where the management team is perceived as a supportive partner rather than an authoritative figure. Carmen views this approach as a valuable learning and growth experience for all involved. Impact on Orbis Mortgage Group Since joining Orbis, Carmen has collaborated with the CEO and various department leaders to assess and enhance the existing technological processes. In response to Orbis's continuous growth, Carmen has overseen the evolution of various elements, including the training process for new brokers, recruitment efforts for both mortgage brokers and executive team members and the refinement of departmental structures and processes. In individual coaching and mentoring sessions with brokers, Carmen places a strong emphasis on refining customer service. Acknowledging the self-employed nature of each broker, she guides them in maintaining a
  • 16.
  • 17. Carmen dedicates time to reading, consistently staying informed about new trends, varying mindsets across generations, and the evolving concepts and tactics of effective leadership in response to the expectations of the current workforce. “ “
  • 18. focus on obtaining customer satisfaction reviews and implementing various customer appreciation tactics. Additionally, Carmen supports brokers in nurturing relationships with referral sources to foster business growth. Orbis has a substantial focus on both digital and in- person outreach. Brokers are encouraged to leverage social media channels for business development, attend social events to market their brand and Orbis within the industry, and target specific customer segments. These strategic activities have yielded a tremendously positive impact for Orbis and its team. Notably, the company is regularly approached by industry members seeking to understand its business model and the reasons behind its rapid growth. The Evolving Landscape Recognizing the significance of maintaining a healthy work-life balance, Carmen emphasizes the importance of taking occasional breaks from work, emphasizing that a rested mind is a sharper mind. Actively encouraging her team members to utilize their vacation time, Carmen goes a step further by advocating for the integration of health and wellness mechanisms into daily routines. Whether it's a brisk walk, quality family time, a workout, or simply enjoying music, she encourages brokers to identify techniques that not only enhance their effectiveness but also contribute to long-term well-being and happiness. Carmen personally adheres to a practice that underscores the importance of disconnecting, as she refrains from bringing her cell phone to bed. She shares this simple yet effective technique with her team, promoting the idea that establishing boundaries with technology can contribute to a more restful and rejuvenating sleep. Leadership Advice for Mortgage Leaders As part of her morning routine, Carmen dedicates time to reading, consistently staying informed about new trends, varying mindsets across generations, and the evolving concepts and tactics of effective leadership in response to the expectations of the current workforce. This commitment ensures that she remains current and can share up-to-date knowledge with her team, contributing to her coaching and leadership capabilities. For aspiring professionals, particularly women seeking leadership roles in the mortgage industry, Carmen offers valuable advice: Ÿ Do not be derailed. Ÿ Don't ever allow the negativity of others to impact you. Ÿ Keep your head down and keep grinding, improving your skills, abilities, and work ethic, and growing as an individual. Other people's negativity is none of your business. Ÿ Remain disciplined and focused on the execution of your plan to achieve your goals, be passionate and supportive of your peers in every action you take; and remain humble at all times. Ÿ Remember nothing is perfect in life; to error is human, how we react to our errors is what makes us better and defines us over time. Carmen's advice reflects a blend of resilience, focus, and a positive mindset, providing a guiding philosophy for those aspiring to leadership roles in the mortgage industry.
  • 19.
  • 20. n the fast-paced and competitive mortgage industry, Ieffective leadership is crucial for driving success and ensuring organizational growth. Leaders in this field must possess a unique set of skills and strategies to navigate the complexities of the industry, inspire their teams, and achieve exceptional results. This article explores key principles and strategies that contribute to effective leadership in the mortgage industry, providing insights and guidance for professionals looking to excel in their roles. Visionary Leadership Effective leaders in the mortgage industry have a clear vision of where they want their organization to go. They develop a compelling vision statement that aligns with the company's values and long-term goals. By effectively communicating this vision to their team, leaders create a sense of purpose and inspire commitment. A visionary leader motivates their team to work towards a common goal and adapts their strategies to meet the ever-evolving needs of the industry. Adaptability and Agility Leaders in the mortgage industry must be adaptable and agile in response to changing market conditions, regulatory requirements, and customer demands. They stay informed about industry trends, technology advancements, and policy changes to proactively adjust their strategies. By fostering a culture of flexibility and encouraging innovative thinking, leaders can navigate challenges and seize opportunities as they arise. Building High-performing Teams One of the hallmarks of effective leadership in the mortgage industry is the ability to build and nurture high-performing teams. Leaders should focus on hiring top talent, creating a diverse and inclusive work environment, and providing ongoing training and development opportunities. They empower their team members, delegate responsibilities, and encourage collaboration to maximize individual strengths and create a cohesive unit that delivers exceptional results. Effective Communication Communication is a fundamental aspect of effective leadership. Mortgage industry leaders must be skilled communicators, capable of conveying complex information clearly and concisely. They actively listen to their team members, clients, and stakeholders, ensuring open and transparent communication channels. Leaders should foster a culture that encourages feedback, addresses concerns, and promotes effective collaboration throughout the organization. Ethical and Responsible Leadership Integrity and ethical conduct are critical for effective leadership in the mortgage industry. Leaders must adhere to industry regulations and ethical standards, ensuring fair and transparent practices. By setting an example of ethical behavior and instilling a culture of integrity, leaders build trust and credibility within their organizations and with clients. They make decisions that align with the best interests of their clients, employees, and stakeholders, fostering long-term relationships and sustainable growth. Continuous Learning and Professional Development Leadership development is an ongoing process, and effective leaders in the mortgage industry prioritize continuous learning and professional development. They stay informed about industry trends, attend conferences and seminars, and seek out opportunities for personal growth. By investing in their own development, leaders can stay ahead of the curve, adapt to industry changes, and inspire their teams to embrace a learning mindset. Effective leadership in the mortgage industry requires a combination of visionary thinking, adaptability, team building, effective communication, ethical conduct, and a commitment to continuous learning. By incorporating these strategies into their leadership approach, professionals can navigate the challenges of the industry, inspire their teams, and drive success for their organizations. Ultimately, effective leadership sets the foundation for sustainable growth and long-term success in the dynamic and ever-evolving mortgage industry. Dec 2023 | 18 | womenworldmagazine.com
  • 21. Attributes of Innovators Understandingthe Effective Leadership Strategiesforthe Mortgage Industry Dec 2023 | 19 | womenworldmagazine.com
  • 22. Julie Teitel VP of Mortgage Lending Guaranteed Rate I believe that we should all choose a profession that mo vates us to wake up every morning with a profound sense of wonder and curiosity, then CARPE DIEM! “ “ Dec 2023 | 20 | womenworldmagazine.com
  • 23. The Most Admired Women Leaders In Mortgage Industry, 2023 T he world of mortgage lending and financial services is a complex and ever-changing one. It encompasses a wide range of activities, from originating and servicing mortgages to providing financial advice and investment products. Guaranteed Rate (GR) stands out as an ideal example of efficiency and reliability in this domain. It is a name synonymous with expeditious approvals and dream home aspirations. GR has carved a remarkable niche for itself in the industry with a commitment to getting borrowers approved in as little as one day setting a new standard for excellence. Imagine a scenario where a client walks into the complex labyrinth of mortgage options, requirements and paperwork. They're filled with aspirations of purchasing their dream home but are daunted by the intricate web of financial intricacies. This is where Julie Teitel steps in, armed not only with the company's impressive track record but also with her own formidable expertise. In the vast landscape of Financial Services, where every decision counts, Julie has played a pivotal role in upholding GR’s commitment to brilliance. Being the Vice President of Mortgage Lending at GR, Julie navigates the intricate maze of mortgage processes, regulations and market trends and has been instrumental in helping countless individuals find their way home. Let’s delve into Julie’s dedication to excellence, combined with the company's commitment to speedy approvals and comprehensive service creating a synergy that's hard to find elsewhere! Julie, please briefly describe to our audience your professional journey up until now. When I started in 1991, my goal was simply to fund my horse habit. I loved showing horses, but this passion came with a price tag. My father owned a mortgage bank in Maryland and while I was in college, he invited me to come work as a loan officer at his bank. Being the strongly independent middle child that I was, I told him that I needed to move to NYC and start the mortgage business on my own and then come back and help him take over the bank. With my parent's support, I moved to NYC, but after several months with no commission, they were ready for me to come back to the security of Dad’s business. I asked for one more month and the rest is history. I spent the next three decades as a top-producing loan officer in NYC. My dad sold his business while I was working in NYC and now, I am back in MD assisting homebuyers in both states and many other states as well. What challenges did you face along the way? During the 1990s the mortgage industry thrived, but not many people I knew were doing mortgages and there were definitely fewer female loan officers at that time. This set me apart from the rest, so what could have been perceived as a challenge, I used it to my advantage and turned it into an opportunity to stand out. More challenging for me back then and now is staying technologically relevant within the industry. Fortunately, my current company, GRI, is exceptional at taking the lead in adopting and implementing cutting- edge technology and training. Undoubtedly, the prevailing challenge is the present market environment. As rates rise and the competition gets tougher with guidelines tightening and some banks closing their doors to mortgage lending, it is more important than ever to be at the top of your game and with the right company. By having the ability to offer Dec 2023 | 21 | womenworldmagazine.com
  • 24. diverse programs, the best technology and amazing service, I recognize it is time to truly showcase my capabilities. What significant impact have you brought to the industry? I feel as if I have been able to make borrowers feel good and know that there is always a way to find a mortgage for their dream home—maybe if you have to shift to a stated income or asset depletion and put down more money, I believe there is always a way to obtain a mortgage. I also feel like I act as a mortgage therapist for several clients when they are feeling emotional and overwhelmed. Tell us about Guaranteed Rate and its foundation pillar. GRI is committed to revolutionizing the home loan process by offering consumers a digital experience so advanced that we can consistently close loans the fastest in the industry while providing world-class customer service, reflected by our net promoter score of 95 or better. We have a mission to be the #1 retail mortgage lender in the country and in the first half of 2023 we ranked #2. How does Guaranteed Rate promote workforce flexibility and what is your role in the company? Hands down! Guaranteed Rate is the best with technology and is also incredibly supportive. I feel encouraged to move ahead in an environment where my company encourages team play and is all about supporting their loan officers. Everyone is committed to working together and fully engaged in being part of my success. What is your take on technological importance and how are you leveraging it? In today’s environment, it is extremely important. As I mentioned, I have been kicking and screaming for decades to fight the evolution of mortgage technology and tried my best to remain a dinosaur, but with the help of Guaranteed Rate. I am now running with cutting-edge technology in today’s mortgage environment. This commitment ensures I remain aligned with the technological trends and continue to offer top-tier service, setting standards that benefit my clients. What will be the next significant change in the industry and how are you preparing for it? When Guaranteed Rate introduced the world’s first fully digital mortgage in 2015, it revolutionized the industry. Now, with Smart Underwrite, we can continue to expedite and streamline the process for both our customers and real estate agents. The real-time automation offered by Smart Underwrite is a driving force behind our recently unveiled Same Day Mortgage platform, which enables borrowers to receive same-day approvals. This technology will not only improve the speed at which we can close loans for our customers but also the accuracy and consistency of underwriting, which will result in exceptional overall customer satisfaction. What are your goals in the upcoming future? Over the upcoming two years, my objective is to turn challenges into opportunities. I tend to thrive in difficult situations and I’m determined to take a proactive stance and make the most of this time. Developing relationships with realtors, assisting the aging population stay in homes while living comfortably—Reverse mortgage and maybe trying to go back to the initial career path, by including my father in reverse seminars. What advice would you like to give the next generation of aspiring business leaders? I would advise them that hard work does pay off. I believe that we should all choose a profession that motivates us to wake up every morning with a profound sense of wonder and curiosity, then Carpe Diem! Dec 2023 | 22 | womenworldmagazine.com
  • 25. Dec 2023 | 23 | womenworldmagazine.com
  • 26. Skills and Traits Dec 2023 | 24 | womenworldmagazine.com
  • 27. Developing Leadership Skillsinthe Mortgage Industry eadership skills play a crucial role in the mortgage Lindustry, where professionals are tasked with guiding clients through the complex process of securing loans for their dream homes. The ability to lead and inspire a team, make strategic decisions, and adapt to the ever-changing market dynamics is paramount for success in this field. This article explores the key aspects of developing leadership skills in the mortgage industry, providing a roadmap to help professionals excel in their roles and navigate the challenges they may encounter. Embrace Continuous Learning Leadership development starts with a commitment to lifelong learning. Mortgage industry leaders must stay abreast of the latest trends, regulations, and technological advancements shaping the industry. Attend conferences, seminars, and workshops to expand your knowledge base and encourage your team to do the same. By continuously learning and updating your skills, you'll be better equipped to make informed decisions and lead effectively. Dec 2023 | 25 | womenworldmagazine.com
  • 28. Cultivate Effective Communication Communication is the bedrock of successful leadership. As a mortgage industry leader, you need to communicate clearly and effectively with clients, team members, and stakeholders. Develop active listening skills, learn to articulate ideas concisely, and foster an open and transparent communication culture within your team. Regularly provide constructive feedback, actively seek input from others, and ensure everyone understands the vision and goals of the organization. Foster a Collaborative Culture In the mortgage industry, teamwork is essential for achieving shared goals. As a leader, it is your responsibility to foster a collaborative environment where individuals can thrive and contribute their best. Encourage teamwork, establish clear roles and responsibilities, and promote a culture of mutual respect and support. By leveraging the strengths of each team member, you can create a cohesive unit that delivers exceptional results. Develop Strategic Thinking Leaders in the mortgage industry must possess strategic thinking abilities to navigate a rapidly changing landscape. Stay informed about economic trends, market conditions, and regulatory changes that may impact the industry. Anticipate challenges and proactively develop strategies to address them. Foster an environment that encourages innovation and creative problem-solving and empower your team to think critically and propose solutions. Lead by Example Leadership is not just about delegating tasks; it is about setting an example for others to follow. Demonstrate integrity, accountability, and professionalism in your work. Be accessible and approachable and show empathy towards your team members and clients. By embodying the qualities, you expect from others, you inspire trust and loyalty, and your team will be motivated to perform at their best. Invest in Leadership Development Programs Take advantage of leadership development programs tailored specifically for the mortgage industry. These programs provide valuable insights, training, and networking opportunities to enhance your leadership skills. Seek out industry associations, professional development organizations, and reputable training providers that offer programs focused on leadership in the mortgage industry. By investing in your professional growth, you position yourself for long-term success. Developing leadership skills in the mortgage industry is a continuous journey that requires a commitment to learning, effective communication, collaboration, strategic thinking, and leading by example. By embracing these key aspects and investing in your development, you can navigate the challenges of the industry, inspire your team, and drive success in your organization. Remember, leadership is not just about personal achievement but also about empowering others to reach their full potential. Dec 2023 | 26 | womenworldmagazine.com
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