Atlantic Bay exec predicts industry cuts, offers advice on rightsizing

Scott
Reise,
senior
vice
president
at


Atlantic
Bay
Mortgage
Group,
has
been
in
the
lending
industry
for
almost
three
decades,
with
stints
at
banks,
independent
mortgage
companies
and
broker
shops.

Though
he’s
currently
at
an
IMB,
Reise
thinks
no
channel
is
better
than
the
other.
The
only
thing
that
differentiates
a
company
is
leadership.

“It’s
the
leadership,
or
the
C-level
people
running
the
company
that
really
dictates,
not
just
in
our
industry,
but
in
any
industry,
how
success
is
going
to
happen,”
he
said. 

With
the
mortgage
industry
currently


weathering
an
extended
spell
of
tumult,
Reise
says
he’s
observed
a
trend
of
leaders
not
stepping
up
to
the
plate
to
be
transparent.

“I
do
feel
like
there’s
an
incredible
amount
of
selfish
people
in
this
industry
that
are
only
looking
out
for
themselves
and
don’t
give
a
damn
about
anybody
else,”
he
said. “I’m
not
saying
that’s
the
majority,
I
think
that’s
in
the
minority.”

The
lack
of
leaders
stepping
up
at
companies
is
especially
highlighted
when
companies
make
tough
decisions
to


rightsize
their
shops,
he
said.
Executives
should
be “present,
on
the
front
lines
and
communicating
with
their
people,
[thereby]
building
loyalty
within
the
organization,”
Reise
added.

National
Mortgage
News
interviewed
Reise
about
the
state
of
the
mortgage
industry
today,
how
leaders
should
handle
rightsizing
and
why
originators
may
be
on
the
chopping
block
this
year.
This
interview
has
been
condensed
and
edited
for
clarity.