In this executive interview from the New York Stock Exchange, HousingWire's Allison LaForgia sits down with Lisa Schreiber, SVP of Correspondent Lending at eRESI. Lisa reflects on her journey into the mortgage industry, sharing how her background and career trajectory have shaped her leadership in today's complex lending environment.
With market headwinds and shifting demand, Schreiber explains how eRESI is evolving through targeted strategies and tech investments. She breaks down what it takes to remain competitive in 2025 and where the next wave of innovation is likely to emerge.
With market headwinds and shifting demand, Schreiber explains how eRESI is evolving through targeted strategies and tech investments. She breaks down what it takes to remain competitive in 2025 and where the next wave of innovation is likely to emerge.
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NewsTranscript
00:00I'm Alison LaForgia, the Managing Editor of HousingWire's Content Studio, and today we're
00:12at the New York Stock Exchange, and I am with Lisa Schreiber, who is the SVP of Correspondent
00:17Lending at E-Resi. Lisa, thank you so much for joining me today.
00:20Yeah, who wouldn't want to join you in this amazing, you know, look around.
00:25Let's talk a little bit about what first attracted you to the mortgage industry.
00:29And how your career path led you to your current role at E-Resi?
00:34Well, I don't think I was originally attracted to the mortgage industry.
00:38Is anybody?
00:39No, I think I really kind of just fell into it.
00:43I had gotten a paralegal certificate and I was looking for what could I do with it.
00:48And I found a job in the mortgage industry that paid a couple grand more than paralegal.
00:54So I tripped into it. Very lucky though, I had amazing bosses.
00:59And I think they saw something in me. Maybe I was just hungry to learn, what have you.
01:04And it just stuck. And I just learned and learned and kept growing through that process.
01:09And now you're. And now I'm able to use over 30 years of experience to help E-Resi grow, to bring a real client focus to E-Resi's platform.
01:23You know, we've got amazing, experienced people there.
01:26And it's really just bringing it all together to really form a partnership with our sellers for success for both of us.
01:33Now, when I was looking at E-Resi as a company, you guys are newer in this space.
01:39And I think that you've had some tremendous growth in the past couple of years.
01:42So let's talk a little bit about how you view the current state of the market and how you would describe that to other people who are in the market and maybe looking to grow in a way that you guys have found success in growing.
01:56Yeah. So we've actually been around since 2019. So not too new.
02:01No, especially in the non-QM space, the non-QM space is really not I've only I've been it myself about 10 years.
02:09So really what I would see with us, our growth pattern has really been around education and really just trying to determine how to help people understand the non-QM space, the product, you know, how to use it effectively, what borrowers really benefit from these products.
02:27And then providing a platform where we really walk along with you.
02:33So what I see right now is I see a lot of people growing in the non-QM space, and I think it's because rates are high, agency refis are not readily available.
02:44So they're open. They're open to learning new things. And non-QM, I think, is one of those things.
02:50So that's great. It does increase competition, but we're all about that.
02:56It's all good for us. But it also brings the product more towards an understanding and more standardized, you know, not meaning that the underwrite is standardized.
03:08But I think people are more accepting and comfortable with the products, and that helps a lot.
03:13So you just talked a little bit about getting people comfortable with the products and being OK with competition in the space.
03:19Yeah. So what strategic adjustments has E-Resi implemented and maybe in response to today's market and leaning into that idea where educating people in the non-QM space?
03:33We've definitely leaned into education. We've leaned into more deep relationships.
03:40So really what I mean by that is what we've done is we've just increased our staffing in a way that is very thoughtful.
03:49We've brought in people that are very knowledgeable and have done non-QM for many years.
03:55And it's more of a consultative partnership where we say, hey, we've got experience. Let us help you.
04:01And I, you know, we were with clients all day today, and it was really terrific because they were telling us, like, we love working with your team.
04:09Like, your team really works with us. They pick up the phone. They help us through. They respond quickly.
04:16And that's that means a lot. That means a lot, especially in today's market.
04:20Yes. Yeah. I mean, that feedback is invaluable, right?
04:24That you guys have a team that is not only so experienced, but really partners with people in this space.
04:29So can you tell me a little bit more about other strategies that have helped E-Resi and you succeed in this space,
04:36especially when the market is so volatile and competition is so high?
04:41Yeah, I think also accessibility of our senior leadership.
04:46We're also not a very large company, but when I first started consulting with E-Resi about four years ago, there was only 12 people.
04:54So easy access to our folks was super easy, right? Because there's only 12 people.
04:59So if you wanted to talk to somebody about credit, you talk to the head of credit and the same.
05:04But we've consciously tried to keep that as much as possible.
05:09Like our CEO had dinner with one of our larger clients not long ago, you know, just called him up and say, hey, I'm around.
05:16Do you want to have dinner? And, you know, who does that? Like, it's very unusual.
05:21No companies that I can name offhand.
05:23Exactly. But I thought that was so cool.
05:25And, you know, and then he said, hey, I had dinner, you know, with Chris the other day.
05:29And I said, oh, I said, what did you learn? And he said, well, this is what I learned.
05:33And then we acted on some of it.
05:35So it was just, I think, accessibility and just like saying, hey, we've grown now to 78 people.
05:41And, you know, we're still accessible. Like, we still want to, we still want to talk to everybody and see what's going on.
05:48What a wonderful culture. It sounds like you guys have really managed to scale in a way that preserves a really fantastic culture.
05:59And I think that that's so rare.
06:00Yeah, I think it's rare, too.
06:02And it's funny because I try to, when I'm talking to people that I think would be a good partner for us or I would love to have as a partner, I try to express it.
06:13And I feel like I said to somebody yesterday, I said, listen, I know this sounds like a pitch.
06:18Like, I know it sounds like, you know, we communicate, we do this, we do that.
06:22And I said, but I have to tell you, like, I don't think I've ever worked at a place that really lived what I'm saying.
06:29Like, I really believe it, you know, and it was funny.
06:33The guy looked at me and he goes, I think you can tell when people are sincere.
06:36I said, I'm telling you, it's just coming from the reality of what I see and what I'm a part of.
06:41And I'm proud of it.
06:42I think you can absolutely tell when people are sincere.
06:45And it sounds like the company philosophy that you've built is really looking at client interactions like a partnership.
06:53Yes.
06:54And not like an exchange.
06:55That's right.
06:56That is, that's key.
06:57That actually is key and truly meaning it.
07:00And I mean, even going back to your CEO, having dinner with someone that you're actively partnered with and being able to take feedback from it is so unique.
07:10And it seems like that's a very different leadership culture that you guys have built.
07:14Yeah.
07:15You know, Greg Tsang and Tim Wang that our leaders and really our leaders in credit and secondary and operations, they're all the same mindset.
07:26So, you know, again, we meet every morning as an executive team and we just talk about what's happening or, you know, I had dinner with somebody or I did this or whatever.
07:37And every day it's kind of like a great way to start the day.
07:40And then we kind of take that out to our teams and it works well.
07:45Looking into 2025, where do you see the most compelling opportunities for growth or innovation in the space?
07:52Well, innovation for sure.
07:53I mean, I, it was interesting.
07:55I think I was talking to you off camera.
07:57We were talking about the Mortgage Innovators Conference that I was just at and then the Empower event.
08:02But the Mortgage Innovators Conference, I came in a little late because I was coming for another event.
08:08And all I heard was A.I., A.I., A.I.
08:11And, you know, it's like literally it was like, OK, somebody needs to then explain well, articulate well how we will use A.I.
08:21Everybody's got A.I. now.
08:23Clearly it's going to be the wave of the future and we all have to kind of harness that power.
08:29But I'm still I think we're all still learning about how we're going to do that.
08:35So that's certainly a huge factor in bringing efficiency.
08:40I think allowing people with the knowledge that they have to have better tools to do things maybe quicker, maybe more effectively.
08:50Definitely something that we're talking about right now.
08:53A.I. is definitely something that I think we all have our eye on.
08:57And I think there's many different definitions of A.I.
09:00Exactly.
09:01It's everywhere.
09:02It's everywhere.
09:03It's everywhere, but we don't know where.
09:05And how different people use it is very, very different.
09:08Yes.
09:09I absolutely agree.
09:10I think that'll be something that we keep our eyes on.
09:12And then to wrap up, what are you most optimistic about for the back half of 2025?
09:18I think I'm just honestly, I think I'm just really enjoying the ride right now.
09:24I don't know if that's the right answer for this, but I just I think I'm with a really great company that has a great culture and outlook.
09:34And I'm excited about new partnerships and growing that really is what I am right now.
09:40What a fantastic outlook to be excited on building what E-Resi has already seems like done such a good job of doing and expanding on the success that you guys have already had.
09:50Yeah.
09:51So, Lisa, thank you so much for joining me today.
09:53I appreciate having you on.
09:55Thank you so much.
09:56This was really great.
09:57It was great seeing you.
09:58Appreciate it.
09:59And to our audience, thank you so much for listening.
10:01Be sure to see more conversations like this on HousingWire.com.