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Member Spotlight
Todd Henderson and Brian Rindels, co-owners of Pinnacle Mortgage Group, Inc. CMLA: Tell us about how you got involved in the industry and how Pinnacle Mortgage Group came into existence. Brian: Todd and I started Pinnacle in December, 1995 with six people - three originators, two processors and a receptionist. We both started our careers in mortgage banking at Waterfield Financial. Prior to the inception of Pinnacle, Todd spent a year with Praski Mortgage. Since 1995, we have grown to a staff of 52 and have expanded our traditional lending operations to include an Internet business division that nets us 60% of our volume. On the lending side, we have kept a fairly traditional loan officer/processor/closer team approach as opposed to becoming a processing center. Although we are very proactive with technology, we continue to preach the importance of relationships in our business. Currently, our repeat business is at the top of the scale and that speaks very well for our people and the relationships they have developed with customers. No matter where they are shopping, customers come back to us, whether they initially find us through a realtor, the internet, or through a referral. CMLA: What factors have contributed to your growth? Brian: Our growth has been steady and controlled; there has never been a "banner year" where we just exploded with growth. One of the primary keys to our growth is our selectivity regarding the employees we hire. We have always focused on hiring quality people, from our loan officers to the support staff and we have been careful to select people who fit in with the corporate culture at Pinnacle. Also, our commitment to doing things right and maintaining a high standard of ethics has served us well. Todd: Many of the people we've hired have come to us as referrals, especially in the internet side of the company. Quality people want to work with other quality people; we haven't ever really needed to advertise. Our philosophy of hiring good people, giving them responsibility, and holding them accountable has worked very well for us. Brian: We also take pride in providing our staff a good deal of flexibility. Employees are expected to put in a 40-hour week, but when business is slow, they can leave early. However, when it's crunch time, they need to put in the time necessary to get things done. Todd: To the employees, the details are what really count. Our record of low turnover speaks to our commitment to and awareness of the needs of our employees and their families. CMLA: You mentioned earlier that approximately 60% of your volume is generated from the internet side of Pinnacle, which you started only a couple of years ago. To what do you attribute growth on that side of the company? Todd: Quite frankly, I attribute our success on the internet side to our internet originations manager, Mike Burns. I have known Mike for a long time; he came to us with an idea that he has been able to implement. His industry experience coupled with his integrity, honesty, and knowledge makes him a perfect fit. The Internet side of the company is very competitive and is completely price driven. Thus, we make our money on sheer volume. Since most of our business in this arena comes to us from out of state, our loan officers have to be aware of many state rules, regulations, processes, and documents. CMLA: How has involvement in CMLA helped you grow? Brian: One of the biggest ways CMLA provides value to us is the Wholesale Lending Fair in January. At the Fair, we've found investors, made connections, and developed relationships that have helped us achieve success. Plus, all the new ideas we are exposed to at the Fair are really helpful. Between the Wholesale Lending Fair, the Convention in Vail in August, and monthly luncheons, CMLA does an outstanding job of keeping the mortgage community connected. Todd: Timely delivery of information and awareness of industry issues is also very important and helpful. The information that CMLA provides helps us stay on top of what is happening in our industry and saves us time perusing all the industry periodicals. We appreciate proactive notification about legislative issues and the opportunity to be aware of what needs to be communicated to our congressmen and women when the need arises. Brian: We are thankful that CMLA exists as a professional association representing the lending community in Colorado. It's great to hang the CMLA membership plaque on the wall in our lobby and let people know that we belong to CMLA. Membership in CMLA sets you apart from others in the industry. I have had the opportunity to experience the level of professionalism that comes with CMLA membership in situations where I'm faced with competing with some unknown company that is trying to sell price-only through the newspaper. I tell my borrowers and realtors to check the CMLA web site and see if this unknown company belongs to CMLA. I assure them that if they don't belong to the one organization that represents the good quality mortgage companies in Colorado, they will probably be gone in a couple of months. Sure enough, these companies are not members of CMLA and sure enough, they're usually soon gone. CMLA is a consistent presence that unites the industry. One of the first things we did when we started Pinnacle was to join CMLA. We decided to make that commitment from day one. And we've never had any regrets.
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