“change your zip code“? This means if your current
actions create the
same outcome time and time again, you have to change your zip code to get a
different outcome.
I learned many lessons
from my mentors during my Banking Career. One of the most valuable
lessons was the Bank always does what is in the best interest of its
Shareholders. It is the fundamental responsibility of a
Corporation. Early in my Bank career my mentor granted me stock based on
performance and I quickly understood the generous recognition to be a
Shareholder. The wealth created by the sale of that stock was life
changing and an experience and dynamic I wanted at the core of Southeast
Mortgage of Georgia, Inc.
One person cannot build
a company, it takes a Village. The Village should benefit. This
belief is part of your culture or not. If its not, what is your longer
term outcome?
Banks can sell many products if mortgage origination is
determined not to be in the Shareholders best interest. Read the News,
its the trend. Southeast Mortgage sells one product and evolves with
media and technology. We originate mortgages only and are all in and have
been for 25 years. Your career deserves a company that is all in on what
your income is dependent on.
Over the past 25 years,
I have seen a lot of Mortgage Operations go out of business and a few
sell. Poor judgment, poorly conceived plans, and unsustainable strategies
were the cause and cost good employees their jobs and the valuable time they
spent away from their family growing the company. When it comes to
taking care of your family or planning for retirement, you need proven
leadership that can help you accomplish your goals long term and provide
equality. Change your zip code for a path to retirement.
When your Bank or
Non-Bank sells and asks you to stay with the company they sold, who’s best
interest is it? Yours or the New Shareholders? You basically accept
a new job (sometimes with pay cuts) without an interview and without comparing
other opportunities. The company being bought and the reasons you worked
there ended with the purchase. The new Bank or Non-Bank will do what is
in their Shareholder’s best interest in the manner they believe maximizes their
Shareholder’s value. Its important to understand your new leadership
works for their Shareholders not as your fiduciary. Change your zip code
and take a chance on a path to be a Shareholder.
When a Bank or Non-Bank
sells you only hear about a few people that got a big check. Search Google, Search Google2, Search Google3, SEC
filings are public knowledge and show how many shares and how much each made on
the sale and where the expense cuts come from to create efficiencies. Mergers rely on expense
cuts to leverage combined revenue into a higher net income for
Shareholders. IMO the Hundreds of Millions of Dollars from the sale
should also benefit the employees that created the value. The reality?
The employees who created the Hundreds of Millions of Dollars in value do not
share equitably in the sale. After the close of the sale, employees at
the company being bought have to find a new job or hope the new company they
were sold to continues in a manner that allows them to make the same
income. No Bank operates the same nor has the same strategy. There
is a reason one Bank buys another and it is usually about Deposits and cutting
non-interest expense to create a higher net income. Expense is always cut
from the company being bought. Bank sales are SEC regulated and public
knowledge. Read the agreement. Merger
Loyalty is a two-way street. If you are loyal, you should be
rewarded when good things happen. If your leader just moves you from
company to company 2 – 3 times
with the same outcome, turn the page (Change
your zip code) and try a better path. You only have a few opportunities
in life to make a better path. Change your zip code to a path that makes
you the owner.
What do your Shareholder’s
look like? Do they represent you? Do you have a path to become an
owner? Have you ever met your Shareholders or Board Members?
We work side by side daily.
At Southeast Mortgage of Georgia, Inc., our shareholders are our Processors,
Underwriters, Closers, Originators, and Administration. Four of our
Shareholders have retired comfortably.
This is what our SEM
shareholders looks like. Every year we add those that help us grow.
From 2 shareholders to 41 is equitable distribution of our success.
They all changed their zip
code at some point in their career to make a better path for themselves and
their family.
With change comes an opportunity for
a better outcome.
#truth #respect #history
www.southeastmortgage.com
Phone: 770-279-0222
