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Summary
Alex Hernandez welcomed John Motowidlak, the CEO of Empire Financial Group and organizer of In-person Mortgage Con, to discuss John Motowidlak's entrepreneurial journey in the mortgage industry, including the creation of Empire Financial to offer a modern origination environment through technology and culture. They discussed the current market opportunity following a loan officer exodus and the importance of leveraging technology, outsourcing, and increasing conversations to succeed in the evolving industry. John Motowidlak detailed the unique, immersive, and philanthropic nature of Mortgage Con, which features quick sessions, "duels" with live voting, and private Universal Studios experiences, and shared a $200 promo code, AH200, for attendees.
Details
Notes Length: Standard
- Introduction and Entrepreneurial Background Alex Hernandez welcomed John Motowidlak, the CEO of Empire Financial Group and organizer of In-person Mortgage Con, to the meeting. John Motowidlak summarized themself as an entrepreneur with various passions and ventures, with the most successful being in the mortgage industry through Empire Financial and the growing popularity of Mortgage Con. John Motowidlak shared that many of their ventures overlap and that they learned best through significant failures, citing their first company, LO Advantage, which provided commission-based LOAs for brokers, as a major initial failure that later informed the creation of Empire Financial.
- Solving Problems and Industry Opportunity John Motowidlak noted that Empire and other ventures were created by solving problems they encountered, such as technology being born from the need to scale company culture and a real estate company developed to alleviate agent burnout. Alex Hernandez discussed why they were drawn to the loan officer industry, citing it as a proven product, offering a commission structure that rewards effort, and providing an environment where high performance is rewarded. Alex Hernandez highlighted the industry's power, considering it the best job for building a career due to the earning potential and lifestyle it can offer if built correctly.
- Empire Financial Group Platform and Future of Origination John Motowidlak explained that the mission of Empire Financial is to build a modern environment for mortgage origination that offers a "lifestyle" rather than just a career, utilizing technology and culture to give originators time back while increasing their earnings. John Motowidlak agreed with Alex Hernandez that technology and the influencer market are making the future originator less location-bound, enabling them to originate loans across different states, emphasizing that the speed of business is multiplying due to AI, which will handle automated tasks and strategic delegation. John Motowidlak believes that those who quickly adopt and leverage these technologies will be successful.
- Market Opportunity and Advice for Originators Alex Hernandez noted the massive exodus of loan officers from the industry since 2024, seeing it as a significant opportunity for those who remain. John Motowidlak advised that success in the current market belongs to those who have the most conversations and are willing to strategically outsource responsibilities using technology or personnel to leverage new resources and tools. John Motowidlak encouraged originators to be unique, creative, and adopt new technologies to do well in the evolving market.
- In-person Mortgage Con Event Details Alex Hernandez expressed excitement about attending Mortgage Con in Orlando in February. John Motowidlak explained that Mortgage Con was created to offer a different, less "stale" conference experience compared to traditional events, with a focus on being immersive, fun, and providing value. The event rents out a large venue at Universal Studios, which is decorated to look like a full-fledged forest and kingdom, offering a unique setting. John Motowidlak detailed that the format features quick, valuable information sessions with 30-35 minute speakers and "duels," where participants present with three slides in 12 minutes, and the audience live votes for the most valuable presentation. They also mentioned that the evening event includes renting out both Harry Potter worlds in Universal Studios privately for attendees, allowing them to enjoy the rides, food, and networking.
- Mortgage Con Strategy and Philanthropic Goals John Motowidlak confirmed that Mortgage Con has a very genuine strategy, operating as a charity event focused on raising money for children while engaging in enjoyable activities, and they intentionally keep Empire Financial disassociated from the event. They announced plans to make it a lender-led charity event in the future, welcoming competitors onto a board to combine resources for the greater good of the lender community. Alex Hernandez suggested that even without direct ties, the event's culture reflects positively on Empire Financial.
- Leadership and Strategy for Success in the New Year John Motowidlak discussed leading the company by acknowledging past difficulties and encouraging analysis of what helped people endure, stressing the importance of structure around the holidays to set goals and plan activities two weeks in advance. They emphasized setting up a strong foundation and leading by demonstrating that success can be achieved. Alex Hernandez shared their personal success framework: Volume multiplied by Skill multiplied by Time equals Outcome, noting that more volume is needed when skill is low, and that giving oneself a sufficient time horizon (e.g., five years) is crucial for success.
- Scaling and Team Building for Originators When asked about the number one skill for a growing LO, John Motowidlak shifted the focus to those moving from one deal to ten, identifying the ability to let go of control and build a team as the utmost importance for scaling. John Motowidlak suggested focusing on activities that generate phone calls and finding "who" (people) to handle the back-end activities, ensuring they are at least 80% as good as the LO, allowing the originator to focus on being the "rain maker". John Motowidlak noted their own entry into the industry 18 years ago as a processor at Bank of America before transitioning to origination.
- Empire Financial Structure and Technology Adoption John Motowidlak stated that Empire Financial offers various options for building a career, including a university for new LOs, joining a team for hands-on mentorship, or building one's own team with control over branding and tech, if they remain compliant. Discussing technology, John Motowidlak highlighted that current technology provides unprecedented insights into business operations, allowing for efficient storytelling of work trends through AI. Empire Financial built proprietary technology focused on money organization, production analytics, and AI to quickly navigate lender guidelines. They utilize Arrive as their LOS system and a proprietary software called MX, which serves as a remote operational hub, to speed up business and give LOs more time.
- Mortgage Con Promotion John Motowidlak recognized their brother's significant contributions to the visual and engaging aspects of Mortgage Con. They provided a promo code, AH200, for $200 off a full-price ticket to Mortgage Con, scheduled for February 1st to the 4th.