The 2024 Thought Leader Award Winners Are …
We need industry thought leaders if mortgage lending is going to advance moving forward. Our existing awards all acknowledge the good work that executives are doing now, but we think it’s time to reward future work and initiatives. We need thought leaders that are not afraid to step forward and blaze a new trail. We need creativity. We need bold new ideas. As a result, for the 5th year in a row PROGRESS in Lending is honoring industry thought leaders.
In alphabetical order the 2024 Thought Leader Award Winners are:
Monika Bhatla
Head of Quality Engineering
Mortgage Cadence, an Accenture Company
Monika Bhatla views innovation in the lending industry as more than just adopting the latest technology. For her, innovation represents strategic transformation—whether that’s addressing inefficiencies, solving persistent problems, or enhancing processes that can drive long-term improvement. Change is often met with resistance, but Monika believes it is essential to push through these barriers in order to stay competitive and meet the evolving needs of customers.
She recognizes that the lending industry is in a state of constant change, with new technologies and practices emerging rapidly. However, she stresses that no innovation is successful without proper testing and quality. In an industry that deals with sensitive data, compliance risks, and operational efficiency, rigorous testing ensures that new systems work as intended, integrate seamlessly with existing tools, and meet the stringent regulations that govern the sector.
As the Head of Quality Engineering at Mortgage Cadence, Monika has witnessed firsthand how critical quality assurance is in delivering innovative solutions that drive growth and success for lenders. Her team rigorously tests all products and services to ensure that they deliver efficiency, reliability, and compliance—the core tenets of any technological advancement in lending. Monika believes the state of innovation is strong for those willing to adopt a holistic, disciplined approach to implementing new technologies, with testing as the foundation.
By ensuring that testing is at the core of every new development, Monika helps Mortgage Cadence remain a trusted partner to some of the largest and most successful lenders in the industry. The industry can thrive when new solutions are properly tested and thoughtfully deployed, and Monika’s leadership ensures that testing is never an afterthought but a key element in the strategic adoption of innovative tools.
John Cady
CEO & President
Citywide Home Mortgage
John strongly believes that we’re seeing more innovation in the mortgage lending space than we have in decades. But John also believes we can and should be doing even more than we are. Candidly, mortgage lenders have long felt bound to tradition and convention, which has often inhibited the adoption of new ideas or approaches.
So it’s a great development to see new and better technologies and models being adopted. There’s still a long way to go, however. Yes, compliance requirements and market demands make this a formidable challenge. But an influx of new talents, an increasingly receptive mindset toward trying new approaches to old problems and, above all, a dizzying rate of advance in available technology are combining to create one of the biggest opportunities mortgage professionals have possibly ever seen.
John is also confident that this accelerating mix of opportunity and innovation will only get bigger and faster in the years to come. It will take flexibility and adaptability to capitalize on this opportunity.
Dan Catinella
Chief Lending Officer
Total Expert
Consumer expectations for their financial institutions have exponentially increased, causing many to consider switching their lender when the next purchase or refinance opportunity arises. But consumers are also eager to find trusted partners and advisors who create a personalized financial journey. Dan Catinella, a 20+ year lending industry veteran and Chief Lending Officer at Total Expert, sees today’s lending landscape shifting from the “age of information” to the “age of intelligence.”
While collecting data has long been a practice of the industry, Dan believes future success lies in activating that data—transforming it from passive information into insights that create opportunities for lenders to connect with borrowers in moments that matter and drive long-term relationships.
In Dan’s view, data activation requires understanding customer needs and addressing them in real time to create deeper, more valuable relationships. This also means avoiding generic outreach in favor of being a proactive partner in customers’ lives. One way to create more humanized interactions with data is by identifying important life events that commonly coincide with major financial transactions to indicate customer intent. For instance, lenders know that newlyweds are in the market for a mortgage on their first home, parents of high school students could take out a HELOC to fund college tuition, and recent retirees may be interested in a cash-out refinance to renovate their home.
Dan also sees this shift as a pathway to financial literacy, education, and empowerment. He views lenders as more than service providers, but as trusted advisors who help customers make informed financial decisions.
By doubling down on connection and loyalty today, lenders can differentiate themselves from transaction-focused lenders—using a long-game strategy to win customers for life.
Michael Crockett
Chief Operating Officer
Xactus
Generally speaking, Michael feels that the industry has been lagging behind for decades – and only now is it beginning to catch up. However, we still have a ways to go. The industry has been collectively slow to adopt emerging technologies and that has created a lingering drag on the mortgage process as a whole. However, Michael now believes the industry is heading in the right direction. Xactus is a dedicated fintech player that is committed to leading the mortgage market to a place where it is comfortable with technology and innovation – and Michael is playing a key role in helping lenders advance the modern mortgage to improve efficiencies, reduce costs, and provide a better consumer experience.
One of the things that stands out to Michael is the increasing comfort level with automation – especially from a GSE standpoint. The GSEs are pushing for more technology and innovation across many aspects of the process which will ultimately filter down to both the lender and consumer levels. Many manual processing tasks are also being automated, so it’s safe to say that the move toward automation is finally being widely embraced. That said, humans should continue to be part of the equation. Xactus defines the modern mortgage as a seamless blend of front- and back-office technologies and workflows with human involvement. It drives a superior consumer experience, and it is delivered more efficiently and profitably than the status quo. Michael’s position is that there always was, is, and will be a need for people to be involved in some of the decision-making. In fact, people may be involved in different, better, and more productive ways as we move forward. But technology and innovation are what will make the modern mortgage happen. It is the great enabler. By automating processes that can be automated, people can focus on constructive relationships with consumers and perform more advanced problem-solving tasks. It is about blending technology and human involvement and using our human capital to its fullest potential. Michael believes that is when and how we will deliver the highest value to customers. Innovation will also enable customized experiences based on consumers’ preferences.
For example, some people may prefer a phone call or using an online tool to schedule a conference call. Other individuals might prefer to chat online or through a video conference call. And more tech savvy people may prefer to upload a video of themselves confirming information. Ultimately, technology and innovation will give lenders greater flexibility – the ability to scale and adapt as volumes fluctuate. It will force us to examine the way we have been doing things historically and take the best of those previous practices and combine them with new technology. The emerging process will be more efficient, cost effective and productive – and we will have technology and innovation to thank for it.
Joe D’Urso
CEO
TitleEase
With over 30 years of experience in the mortgage and real estate industries, Joe D’Urso has an excellent understanding of the current state of innovation in lending and is encouraged by the progress happening across the industry. The industry has seen impressive developments in technology that are dramatically improving parts of the lending process for both lenders and borrowers. Joe also says while the industry’s march toward digitization has been slow and deliberate, it is happening and likely to gain more momentum in the years ahead.
As Joe notes, there are many tools available today that simply didn’t exist a few years ago. On the front end, POS systems are giving borrowers a faster, more intuitive experience, new automated verification tools are reducing the time and hassle of income and employment checks, and new loan decisioning engines are making underwriting faster and more accurate. More recently, E-signing, remote online notarization, and e-closing technologies have begun to transform the traditionally slow, paper-driven closing process into a much faster, more convenient experience. New mobile apps and user interfaces are allowing lenders to stay connected with borrowers in real time. As these systems become more refined and better integrated, he sees tremendous potential for a more seamless, streamlined lending process that improves the experience for everyone involved.
However, Joe acknowledges that achieving this seamless experience hasn’t been easy. Lending technology is a highly fragmented market, with hundreds of vendors offering CRMs, LOSs, signing applications, and other tools. The sheer volume of tools can be overwhelming for mortgage organizations. Evaluating each of these products and pricing structures and determining how these tools can be stitched together to create a best in class process is no easy task. Another significant obstacle is determining when and how a lender should disrupt their existing business and completely revamp it with new technologies. Every vendor believes their tools and services are easy and fast to implement, but the reality is often the opposite. When volumes are low, lenders operating on legacy processes and systems often find the cost in time, money, and personnel to overhaul their business can be prohibitive. This brings up another hindrance to innovation: a lender’s fear of making mistakes when implementing new technology and setting their business back. This can prove fatal in an already tough market.
Joe sees these issues as central challenges the industry must address if it is to move forward with a more digital, customer-friendly approach. At the same time, he’s optimistic about the potential of AI and machine learning to bridge some of these gaps. He views AI as particularly promising for automating smaller, repetitive tasks, which can free up resources, reduce costs, and speed up transactions. While he believes the industry may have to wait a while for AI to reach its full potential, Joe sees incremental improvements already happening. In his view, each small step toward automation helps lenders and service providers manage tasks more effectively and ultimately contribute to a smoother process for borrowers.
Kim Hoffman
President of Mortgage Connect Risk Solutions
Mortgage Connect
Kim Hoffman is a powerhouse in the mortgage industry, having managed the mortgage operations in major leadership positions during her 35-year career at big-time companies like Morgan Stanley, Envoy Mortgage and Sofi Bank. But this year she made a massive pivot by joining Mortgage Connect as president of Mortgage Connect Risk Solutions, a third-party due diligence firm formerly known as Adfitech.
Kim is known for her expertise in mortgage loan fulfillment, quality control and credit and risk management – knowledge she is leveraging in her new role as she focuses on elevating the third-party due diligence offerings available to mortgage lenders right now. This is where Kim spots the opportunity for major innovation within mortgage lending. Kim has a deep and nuanced knowledge of the entire mortgage life cycle and the secondary market, and this affords her a keen understanding of the lender’s perspective – and their pain points. It enables her to identify issues impeding business, effectively highlighting areas ripe for innovation.
Specifically, Kim is an adamant believer in the need to find smart uses for AI in mortgage lending. She is actively exploring the many ways AI can potentially ease the significant burden risk management imposes on lenders in today’s market – a burden she calls untenable and one she aims to alleviate using smart tech. For Kim, it is the application of AI that will take mortgage lending to the next level, and she intends to be a driving force behind its use.
Ashley Jelinek
CEO
Corporate Settlement Solutions
Innovation in lending is accelerating, driven by the introduction of advanced technologies such as large language models (LLMs) and computer vision, and greater regulatory acceptance of advancements like Remote Online Notarization (RON) closings, according to Jelinek. These innovations are creating new opportunities to streamline processes, improve borrower experiences, and enhance efficiency across the lending workflow. However, significant challenges persist.
The lending industry remains highly fragmented, with multiple participants often working on disparate systems that lack interoperability, she says. This siloed nature hinders seamless data flow and integration. Additionally, many lenders are slow to adopt new technologies due to a combination of factors, including limited time and resources, compliance concerns, and a conservative approach ingrained within the banking industry.
Bridging the gap between innovation and broad industry adoption will require dedicated effort and collaborative solutions to overcome these barriers, Jelinek concludes.
Jamie Lasher
Chief Technology Officer
Redefining Business Intelligence
When Jamie Lasher looks at a new technology, she knows exactly what she’s looking for and what questions to ask the developers to ensure success for her clients. Working as a consultant for a regional bank, she learned quickly to tell the difference between tools that would help the bank execute its strategy and those that wouldn’t.
Today, things are moving so quickly that it can be hard for a CTO to know what’s behind the fancy demo of a new software tool. Jamie knows that firsthand. As a co-founder and Chief Technology Officer for the mortgage industry’s first outsourced data science company, she has seen AI’s impact on the fast development and testing of new tools.
In Jamie’s mind, the potential for innovation in lending has never been greater, but the same could be said for the need to vet and test any new innovation a lender wants to deploy. If the lender doesn’t benefit, it’s not an innovation.
Jason Mapes
Head of Sales
Floify
Jason Mapes, a 23-year lending industry veteran now spearheading Floify’s national sales efforts, believes the industry stands at a crossroads of opportunity and challenge.
For example, digital transformation has reshaped consumer expectations, with borrowers now seeking seamless, fast, and transparent experiences akin to those provided by fintech disruptors. Technologies like artificial intelligence (AI) and machine learning (ML) are being increasingly leveraged to streamline processes and enhance risk assessments.
Personalization also has begun to play a more substantial role. Consumers are no longer satisfied with a one-size-fits-all approach; they expect tailored loan products that consider their specific financial situations. This shift has driven the rise of data-driven solutions capable of offering customized experiences at scale.
So, while the lending industry is actively exploring new ways to enhance borrower experiences and improve operational efficiencies, it still needs to overcome significant hurdles. “That’s why I’m excited about a couple of enhancements we’re making that will deepen technology adoption and streamline user experience,” Jason says.
One of the major opportunities he’s focused on is improving the TPO (Third-Party Originator) functionality of the Floify point of sale (POS) platform. “This segment lacks an effective, streamlined solution in the current market, and Floify is uniquely positioned to disrupt this space,” he explains. By enhancing its system, Floify can make it significantly easier for lenders to seamlessly transfer files to TPO clients, simplifying the workflow and driving better results for both parties, he says.
Additionally, Jason has pushed for the development of an agricultural (AG) lending product. Partnering with vendor partners will enable Floify to automate and digitize the AG lending process—not just through online applications but by incorporating loan pricing tools as well. This would be a significant leap forward, as many AG lenders currently rely on manual spreadsheets and handwritten applications. By providing these enhanced capabilities, Floify could help AG lenders become more efficient and compliant with upcoming regulations, such as the new 1071 requirements, a provision of the Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 that mandates lenders collect and disclose data on small business and small farm lending.
“These product enhancements not only align with Floify’s goal of simplifying the user experience but also position us as an industry leader in addressing underserved markets,” says Jason. “I’m looking forward to seeing these initiatives take shape and contribute to deeper technology adoption across the board.”
Ryan Marshall
CEO
Voxtur
For Ryan Marshall, it’s not about sitting pretty in the c-suite or making the most money possible, it is truly about learning new ideas and developing new ways of doing things that beat the old standard. It’s this persistent intellectual curiosity that has propelled the serial entrepreneur to start new companies, test new business theories, develop new software (and teach himself computer programming). He’s a thinker and a doer, and he’s never content to settle, always driven by the desire to invent.
The value for Ryan is in the challenge of creating a new concept, one that exposes the inefficiencies of the old method and brings to light a new and better way of doing business. One that forever changes how that business is done. That is exactly what Ryan did when he founded Benutech and its flagship software, ReboGateway, which brought valuable data to real estate agents that would help them elevate their marketing and prospecting efforts. Benutech quickly captured the attention of major protech players, leading to its acquisition by Voxtur in 2021. There, Ryan’s super-star status was quickly noted, and he climbed the ranks from Chief Product Officer to Chief Operations Officer before ascending to CEO earlier this year. In his new role, he is determined to bring real innovation to the proptech world, elevating software and solutions for the real estate and mortgage sectors to change the way business is done.
Ryan believes that the mortgage industry desperately needs to embrace the smart use of data to enhance operations, leveraging data to increase pull-through rates and turn times to make the mortgage process more efficient for consumers.
Jerry McCoy
EVP, Performance Management
LoanCare
“The state of innovation in lending today is characterized by rapid change, fueled by advancements in technology, data processing, and artificial intelligence (AI). For the first time, lenders have the capability to process vast amounts of data and apply machine learning algorithms at scale, which historically would have required significant time and investment. These innovations enable lenders to approach challenges in new ways, applying sophisticated tools to derive insights that were previously difficult to capture,” says McCoy.
“However, the industry is only beginning to transform. While the origination side of the lending industry has received considerable investment in optimizing processes, the servicing space has lagged. Historically, innovation in servicing has been incremental, but the landscape is set to change dramatically. The expanding adoption of digital experiences and the shift toward self-service solutions are reshaping how consumers engage with their financial products. Today’s borrowers are increasingly comfortable managing their accounts online, often preferring self-service options over speaking to customer service representatives. This shift in consumer behavior provides a strong foundation for more robust digital solutions and fuels the push toward technological innovation in the servicing space.
“One critical factor in this transformation is a willingness to experiment and accept failure as a stepping stone to progress. Innovation does not come from simply applying new technology; it requires a willingness to “fail forward,” learning from missteps and iterating on strategies to refine solutions,” points out McCoy. “The challenge in lending, particularly in servicing, lies in operationalizing these innovations. Implementing cutting-edge technology in a field that often relies on outdated infrastructure, much like trying to install a 2024 engine in a truck from 1975. The challenge is not just technological but cultural—bridging the gap between legacy systems and modern solutions, and ensuring that everyone in the organization understands and feels comfortable with these new processes.
“The introduction of APIs, data connectors, and advanced data processing tools enable lenders to create systems that are not only more efficient but also transformative. Moore’s Law—the principle that technological capabilities expand exponentially—suggests that the rate of innovation will only accelerate, making each incremental improvement less costly and more impactful. This compounding effect will drive rapid advancements over the next few years, especially as AI and automation become more prevalent in day-to-day operations. Looking forward, the lending industry is set for significant evolution over the next three years. AI will play a central role, not only in optimizing existing processes but also in enabling self-directed and autonomous systems that can improve business automation.
“As these technologies continue to develop, lenders will be able to offer increasingly personalized, seamless experiences for their customers while improving operational efficiency. Ultimately, while the path of innovation in lending is complex, involving technological, cultural, and operational shifts, the potential to create a more agile, customer-centered industry is closer than ever before,” McCoy concludes.
Matt Pettit
CEO
Arrive Home
There is an affordability crisis impacting our nation’s housing, and Matt Pettit believes the mortgage lending community must put forth actionable ideas to solve this issue. Matt believes that the inability to purchase a home will have a lasting and damaging impact on the country’s economic health, as it leaves the younger generation of would-be first-time homebuyers unable to build equity in an investment and create wealth that can help set future generations up for success.
For Matt, this is the most crucial issue affecting the mortgage industry right now, and he co-founded Arrive Home specifically to solve for it. To tackle the issue, Arrive Home launched a down payment assistance program that helps lenders extend credit to worthy borrowers in underserved communities. The mission is to change the way lenders view down payment assistance by educating the industry about these programs and providing technology that makes these loans less burdensome for lenders and consumers. The idea is to work with governmental entities, lenders and nonprofit groups to offer down payment assistance and other innovative mortgage products that will enable correspondent lenders to confidently deliver loans to reliable borrowers who qualify under FHA guidelines.
For Matt, the opportunity for innovation in the mortgage industry rests squarely in the need to increase access to homeownership for underserved borrowers, and this is exactly where his focus lies.
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