How much easier could this be? The loan originator
and processor on this loan were getting frustrated
because the borrower kept sending in the wrong item
to meet this final condition to close the loan. When
I heard this story it occurred to me that maybe the
borrower had never heard of a cancelled check. With
the advent of online banking, they had probably never
hand written a check in their life, and it was unlikely
that they had to provide one in the regular course of
Those of us who are “pre-millennial” more than
likely remember getting the actual cancelled checks
mailed to us in our bank statements. It was probably less than 10 years ago that this was the common practice, then it went to miniature copies of the
checks with the bank statements. Today many people
don’t get mailed bank statements. It is really head-spinning how things change so quickly these days.
Once we overcame the communication barrier and got on the same page, the loan originator
apologized to the customer, explained exactly what
we needed and why, and they shared a laugh at how
much life has changed.
Just this week our company announced a new
HR policy called a, “Ferris Bueller Day,” named after
the main character of the 1986 movie. It’s a random
day off of fun and adventure for company employees.
One of our millennial employees called her supervisor
to ask, “What is a Ferris Bueller?”
We cannot make assumptions that people of vary-
ing generations or cultural experiences share the same
pop culture, political, artistic, or other references when
we are looking to create an excellent experience for
our employees or for the consumers we serve.
Mortgage lending and the practice of real estate
sales require a lot of technical experience and un-
derstanding, but our consumers only engage in these
transactions a few times in their lives. What words or
phrases, acronyms or processes do we throw around
in our daily professional lives that other people, young
or old, would think is a foreign language? What refer-
ences do we make to support a story or process that
falls on deaf ears? What were typical practices years
ago that today’s millennials would have no familiarity
with, such as maintaining a checkbook or reviewing
cancelled checks? I would love to hear your thoughts
on this subject!
When communicating with someone of a different
generation, remember when you were a novice at this
business and think about your word choices and how
likely they are to get what you are talking about.
Remember when you were new to this business?
Amy Tierce, NMLS# 15695, of Newton is
Regional Vice President for Wintrust Mortgage, a mortgage company with branches in
Metro West. She can be reached at atierce@
Wintrust Mortgage is a division of Barrington Bank & Trust Company, N.A., a Wintrust Community Bank, NMLS# 449042. Equal Housing Lender. This information
is intended for mortgage and real estate professional use only and is not an advertisement to extend customer credit as defined by Section 1026.2 Regulation
Z. Copyright © 2016 Wintrust Mortgage 160100426KO