Teraverde Current Commentary

What Can Lenders Learn from An Airline Captain?
Jim Deitch

What Can Lenders Learn from An Airline Captain?

What can mortgage bankers learn from other industries?  I was speaking with a Southwest Airlines captain recently (he was deadheading to his duty station).  The conversation was informative.  “Southwest Airlines has 6,500+ pilots, and every pilot can fly every one of Southwest’s aircraft. We fly in pairs, a captain and a first officer.  I may fly with 4 to 10 different first officers each month, but we know exactly what is expected of each other and our respective roles flying the aircraft.  Our procedures and operational methods are called Crew Resource Management, where we back each other up and cross-check each action we take.  Every phase of every flight has procedures to ensure safety and success.  We flew 140+ billion seat miles in 2016 without a fatality or major incident.”

Consistency of process is the key to predictable success.  If you followed 10 different loan files from initial customer contact by 10 different loan officers through ‘clear to close’, how much variation would you find?  Get some insight about what to look for with our ‘preflight’ checklist. http://teraverde.com/Profitability-checklist​

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