More and more women are breaking down barriers and taking leadership roles in the mortgage sector. Increasing women’s participation in the mortgage sector can bring several benefits, such as diversity of thought, increased innovation, and a broader range of skills and experiences.
Celebrating women’s achievements and contributions to the industry can help inspire other women to take on leadership roles. This can be achieved by showcasing female leaders through awards, recognition, and public speaking opportunities.
Mindy Rothenberger is the president and CEO at Southpoint Financial Services, Inc. She began her career as a loan processor at a major subprime lending company located in a small Indiana town. After gaining experience in the field, she aspired to earn the same level of income and enjoy the freedom and flexibility of the sales team. Thus, she transitioned to a loan officer position and began acquainting herself with the role’s responsibilities.
Mindy joined Southpoint Financial Services in August 2007 and rose through the ranks to her current role as president and CEO. Under Mindy’s leadership, loan volume has increased by over 400%, they have expanded their service area to 18 states, and her omni-channel marketing strategy has brought a new dimension to the call center and the remote loan originators. Mindy continues to have her eye set on providing more opportunities in the workplace and helping customers who want to improve their financial situation through home ownership. Whether she is working with a first-time home buyer or coaching staff members, she does it with the intent to inspire personal growth in that individual.
Challenging Work Process
Being the CEO and President of Southpoint Financial, Mindy finds it extremely challenging to navigate the ever-changing market. The company has set high targets for increasing production, expanding job opportunities in a shrinking market, and enhancing the customer experience through technology. The ultimate objective is to create an efficient process that enables both the in-house and remote teams to work together seamlessly. Mindy emphasizes the importance of clear communication and setting realistic expectations for both internal and external stakeholders while always striving to over-deliver on promises. Southpoint Financial has established a reputation for delivering an outstanding client experience. The core staff has been working together for over a decade, and Mindy believes that investing in employee growth and maintaining a positive work environment are essential for employee retention and the company’s long-term success. Ultimately, Mindy understands that happy employees are key to achieving the company’s objectives.
The Firm
For over 20 years, SouthPoint Financial Services has been headquartered in Atlanta and operates in 16 states across the country. As a direct lender, it specializes in providing purchase and refinance mortgage services to homeowners and home buyers. Its top priority is offering a wide range of mortgage financing products and programs at competitive rates, combined with exceptional customer service. The firm believes in listening to our customers and partners to provide solutions that align with their unique goals.
Southpoint’s experienced mortgage team is dedicated to providing expert care throughout the entire home loan process, helping its clients achieve their financial objectives. It prides itself on utilizing innovative financial technology to enhance the personal experience of its clients and partners. Its fintech provides transparency in each stage of the loan process, allowing everyone involved to stay up to date with progress. This technology also enables its licensed mortgage consultants to stay focused on providing the best possible customer service in the industry.
Ultimate Advice for All Aspiring Women
Mindy looks back on her journey from humble beginnings to her current position as president and CEO of Southpoint Financial Services. Without a D1 college degree, she felt out of place among the elite but learned to embrace her unique qualities and shine brightly above the rest. While feedback from others can be valuable, she encourages individuals not to let external opinions define their worth or limit their potential. Hard work, a positive attitude, and a willingness to learn and grow are the keys to success, regardless of gender, race, or social status.
As a leader, Mindy understands that true leadership comes from within, and it’s not just about the title or the ability to give orders. A leader should genuinely care about the success of others and serve as a resource for development and vision. Mindy’s leadership has helped Southpoint Financial Services increase its loan volume by over 400%, expand its service area to 16 states, and implement an omni-channel marketing strategy that has transformed the call center and remote loan origination.
Mindy remains committed to creating opportunities for personal growth in the workplace and helping customers achieve their homeownership goals. Whether she is working with first-time homebuyers or coaching her staff, Mindy is dedicated to inspiring personal growth in individuals.
Participating in Other Business Processes
Mindy believes that to be an effective leader, you must have a deep understanding of the industry you’re in. In her opinion, she felt it imperative to understand every position and be able to perform each function. Throughout her career, she has worked as a top-producing loan officer as well as an underwriting manager for a national lender. When she and her husband relocated to Georgia, she closed her own mortgage broker company and accepted a lower level processing position with a national lender. Within 30 days, she was promoted to underwriting. Within a year, she became the regional underwriting manager and eventually took on the responsibility of running the operations center, which managed both sales and operations functions.
In her leadership role, Mindy recognized the importance of understanding each department’s challenges and gaining hands-on experience. She took the time to sit down with every department in her organization and develop best practices for the branch by pulling together departmental team leads from both sales and operations. Mindy’s in-depth knowledge of each position gives her a unique perspective that few leaders possess, and she is able to lead both groups in a way that ensures they work together seamlessly.
Mindy maintains all her underwriting DE’s and originators licenses, and she understands that sales and operations are interdependent. Sales needs operations, and operations need sales to produce, so everyone in the organization must succeed together or fail together.
Learning from Others
Mindy emphasizes the importance of mentoring when one is in a position to teach others by setting an example and sharing knowledge. She recognizes that in the mortgage industry, top leadership roles are often held by men, and she feels humbled to be in such a position. Mindy enjoys spending time with individuals who may have faced more challenges in their career paths, including those who did not graduate from top universities. She has observed that women tend to lack confidence in their own success, often second-guessing their knowledge and skill level. In contrast, men tend to own their success and are respected for it. Mindy believes that women can earn respect by demonstrating their strength and knowledge through their actions.
Emphasizing on Employee Training Growth
Mindy advocates for more training and development opportunities for staff in the mortgage industry. Instead of hiring individuals into middle positions, she believes that starting from the ground up produces more well-rounded employees who possess knowledge and understanding of the bigger picture. Mindy also emphasizes the importance of personal relationships in the workplace, which can be hindered by working from home full-time. To address this issue, she suggests implementing a blended schedule where staff spends a minimum of two days in the office and three days working from home. This approach would ensure that staff maintain close working relationships while also accommodating the demand for working from home. Additionally, Mindy believes that hands-on training is crucial and can be lost when working remotely. Finally, she believes that educating borrowers on mortgages and their responsibilities is essential for their understanding.
Coping with Upcoming Transformations
Mindy recognizes that the digital realm is the way forward. As a millennial and first-time homebuyer, she values speed and efficiency through virtual channels. To meet this demand, the company has implemented a new operating system that incorporates automation technology. The loan closing process is the most critical area that the company seeks to automate, so that borrowers can complete their mortgage with e-signatures and no physical documents need to be signed. Mindy affirms that “our new software will be available for testing in both the retail and wholesale platforms by the second quarter 2023.”
In mid-November 2022, Mindy was given the opportunity to purchase equity shares in the S-corporation. Knowing her long term commitment to the Southpoint Family, Mindy decided to purchase all 100% of the equity shares in Southpoint Financial. The sale transferred all 247 equity shares to Mindy effective January 1, 2023. With 100% of the company shares, Mindy now can bring forth her vision for the company’s future growth along with the employees’. Mindy’s immediate plans are continuing the growth and expansion of our footprint. She has long envisioned creating an environment where tenured employees are given a piece of the pie for their dedication and hard work in building a company’s structure. Mindy shared “instead of going public or selling to a larger lender, I want to sell shares of our company to the employees based on their tenure, so that those who have worked hard and helped me turn this company around will also be rewarded for their efforts.” She aspires to transform the company into an employee-owned enterprise.
Mindy has always emphasized the importance of “trust,” as highlighted on the back of the card she distributes to all homebuyers. “Earning Your Trust One Loan at a Time,” she has earned the trust of numerous borrowers by helping them achieve their long-awaited dreams, and she aims to continue doing so in the future.
