We interviewed UTA’s new President, Randy Newman of TLS, Total Lender Solutions, who is beginning his second tour of duty as UTA President.
Congratulations on your election as UTA President – the second time you have served in this capacity.
Thank you. I am both honored and humbled to be in this position again.
What are the challenges facing the industry?
I see two big challenges facing the industry right now, and both of them are government-driven. First is, no surprise, COVID-19 and the lack of clear messaging by the federal, state, and local governments as to what can happen and when. For instance, there is terrible miscommunication as to why we can move forward with nonjudicial foreclosures in certain counties unfettered and not in others. The second issue is the knee-jerk reactions of the government and regulatory agencies to every perceived issue or wrong. Recent legislation passed in California was designed to solve a problem that, quite frankly, I do not think existed to any great extent. Now, the industry is faced again with the daunting task of figuring out the logistics of complying with new laws without any real guidance.
What are the challenges facing the Association?
The biggest challenges facing UTA this year are lobbying for effective and sensical legislation and a declining membership base. We are typically, and wrongly, labeled as bad people given the nature of our industry. Most legislators do not fully realize or accept that what we do is a necessary part of the lending industry and in reality, our clients are typically not a group that draws sympathy. That, in turn, causes some bias against us and a deaf ear to be turned when we look for our seat at the table. I don’t know anyone who is opposed to legislation that is well-reasoned and thought through.
What do you foresee for the industry and the Association this year?
COVID-19 is not going away anytime soon. Moratoria are going to be continued whether at the federal, state, or local level. Our industry will, unfortunately, consolidate again. Fannie/Freddie and the like have not moved forward on the vast majority of their delinquent portfolios for over ten months as of now. I do not think we will see any uptick until the second quarter at the earliest. It’s going to be another tough year.
What are your responsibilities with TLS?
My main job is making sure the company is headed in the right direction and that the right people are in the right seats. I explore strategic partnerships and set the standards for our people to achieve. I ensure that TLS’s employees are treated very well and that they understand integrity, knowledge, and compassion are what drives the company.
Tell me the most challenging part of your work.
Compliance and keeping up with all the laws, rules, regulations, and ordinances that are enacted seemingly daily.
What do you enjoy most about your job?
I have surrounded myself with a great group of people who have a thirst for learning and want to “do right.” They make it all better.
What does your company get out of its membership in UTA?
Education, friendships, networking. I’ve personally been a member for over 15 years and have learned so much from not only the classes and seminars but from being able to have someone who understands what I’m talking about when I need to bounce an idea around. I am and have been part of numerous organizations and the members of UTA share so much knowledge unselfishly even though we’re all in the same line of work. I made a decision at the beginning of last year that each of our processors would be a member and attend the events that I do.
If you could meet any person in the world – or the history of the world, who would it be?
What is your favorite work of fiction?
My favorite work of fiction is The Princess Bride by William Goldman (and yes, I read it long before the movie was made).
What’s your favorite quote?
Train people well enough so they can leave; treat them well enough so they don’t want to” from Sir Richard Branson.
Thank you, Randy.
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