This week’s HW+ member spotlight features Amanda Hill, head of mortgage solutions at Reggora. Prior to her role at Reggora, Hill held senior management positions at Blue Sage Solutions and Ellie Mae.
Below, Hill answers questions about the housing industry:
HousingWire: What is your current favorite HW+ article and why?
Amanda Hill: Lenders see appraisal modernization as a top priority by Maria Volkova. This was fascinating to me since I recently joined Reggora and I see so many opportunities for us to help lenders with this. It truly is time for lenders to consider how technology can improve this part of the mortgage process and reduce turn time.
HousingWire: What is your most useful tech tool?
Amanda Hill: My cell phone! I wish I could offer something more exciting, but it is just the most versatile, handy tool in my arsenal!
HousingWire: What has been your biggest learning opportunity?
Amanda Hill: My first job for a small but innovative bank when I was still in college…I started as a teller, but when I was bored, they taught me to assist in other areas and lending captured my interest! They had a young executive team who valued fresh ideas and were not afraid to train inexperienced novices like me.
I changed positions every 6-9 months, learning more at each level, and I eventually ran the entire mortgage lending department. They had a unique approach to hedging and though I never imagined I would work in finance as a kid, it was an amazing journey. I learned the value of taking risks, not fearing change and learning from a collaborative team.
HousingWire: What is the best piece of advice you’ve ever received?
Amanda Hill: “Life begins out of your comfort zone so go ahead and jump!”
HousingWire: What do you think will be the big themes for the housing market in 2022?
Amanda Hill: There will be a lot of eyes on rising mortgage rates and inventory of available homes for sale. Homeowners who bought or refinanced when rates were much lower may reconsider planned moves or financing changes due to higher rates and limited inventory.
Similarly, first-time buyers may decide to delay their searches until the market provides more options, both in terms of inventory as well as home prices, and rates decrease. This creates a tough environment for lenders who will need to pivot to be as efficient and attract as many borrowers as possible.
With this increased competition in the market coupled with a slow-down in mortgage activity, we’ll also see savvy lenders take the opportunity to reevaluate and modernize their tech stacks. Now is the time for lenders to create the fully digital mortgage experience that the market is craving.
HousingWire: What keeps you up at night and why?
Amanda Hill: The soaring price tags on homes for sale and rent. The challenges this creates financially for many families while excluding them from the goal of homeownership, or simply having a decent place to call home, is real. Add inflation to the mix and you realize that the impact on our family, friends and neighbors is daunting.
HousingWire: What’s one thing that people aren’t paying attention to that you think they should be paying attention to?
Amanda Hill: Obviously I’m biased on this one, but I think people should be paying more attention to the shifts happening around appraisal. The GSEs are implementing big changes this year that will allow for modernization to kick into high gear. If lenders don’t prepare now by adopting the right workflows and technology, they’re likely to be left behind.
To become an HW+ member, click here.
For more information on HW+ benefits, click here.
To view past issues of our HW+ exclusive HousingWire Magazine, go here.