After spending 25 years as a lender, James Deitch founded Teraverde to assist lenders with technology and strategy. Over the past 10 years, he has combined his lending expertise, technical savviness and desire to help lenders into an award-winning company. Deitch’s mortgage domain knowledge combined with his natural inquisitiveness has led him to write three best-selling books on strategic, digital and disruptive transformation. His interviews with over 300 executives helped him develop insightfulness in thinking through client issues.
In the past 12 months, Deitch navigated Teraverde through the challenges of COVID-19 and changing business conditions. Teraverde re-engineered Coheus, the award-winning business intelligence platform, speeding installation to just 48 hours and simultaneously reducing the cost of Coheus to lenders.
Deitch developed a joint product with Loan Vision’s general ledger system to combine LOS and general ledger data in an easy-to-use BI application. His drive and energy helped the Teraverde team remain focused on building great technology for the long term while maintaining the company’s self-funding bootstrap model.
In the early stages of the pandemic, Deitch assisted many lenders in managing through limited liquidity and a contraction of products offered. Three months later, the Federal Reserve forced down interest rates, challenging lender capacity in the resulting refinance boom. Deitch switched gears and assisted clients in expanding capacity through business process changes and better application of technology.
What has been the secret to your success?
“I believe team members are capable of extraordinary contributions. I encourage each team member to think broadly about innovation, and how to creatively address an opportunity or issue. I’m willing to invest in each team member’s knowledge and interests.”