One week into his new job as executive vice president of the Mortgage Bankers Association, Paul S. Reid was adjusting to the Washington lifestyle and reflecting on how the association can help members deal with the big trends in regulation, consumerism, and technology.
Mr. Reid, 49, had been chief executive officer of American Home Funding, Richmond, Va., until it was sold to Charter One Financial, Cleveland. He said his biggest adjustment has been to Washington's traffic-clogged commuting-a far cry from Richmond's more leisurely pace.
The association isn't a for-profit company, he said, but it must add value to the industry so that members feel their representatives are "listening."
A former linebacker and captain of the University of Virginia football team, Mr. Reid described how that experience shapes his approach at the MBA.
As CEO of a mortgage company, did you ever feel the MBA was out of touch with your needs?
REID: I wouldn't go so far as to say that they weren't listening. I just think so much has changed in the business that the listening skills have to be in an absolute heightened position.
So what can the MBA do for its members?
REID: We need to work on Respa and bring forth some reasonable closure to that.
We can be of great help in the technology revolution-in helping them see what choices they have and provide some guidance as they sink millions and millions into systems.
Exactly how would you help members with technology?
REID: You take a NationsBank or a Norwest-they've got all the firepower they need internally. But a midsize mortgage banker-whether they're independent or even owned by a financial institution-we could say, 'Hey! We have acquaintance with the following systems, and we've found the best applications with these two or three. In fact, here are some members in Mississippi or Arkansas that have used it. Maybe you want to go there and visit them.'
So, a clearing house and a knowledge base for them.
Your new job is a bit like being coach of the MBA team-how will football help you do it?
REID: I bring leadership. I was captain of the football team at the University of Virginia. I believe the team is what matters.
You're going to have the individual players and stars on the team, but if one person doesn't do their job, the whole scoreboard can be altered.
The other thing I bring is winning. I want to win. That's why you play. I want our team to enjoy the celebratory atmosphere of success. At the same time, when we have a loss or a failure, you kind of mourn together, too.
