Helping People Realize the American Dream
One would think that after twelve years in the mortgage lending business, a CEO might (understandably) cut back to normal business hours. But not Sushil K. Tuli, President and CEO of Leader Mortgage Company in Arlington, MA. who still can be seen in the evenings providing his personal attention to new customers, guiding them through the mortgage application process.
"The mortgage business to me is about helping people make one of the most important decisions of their lives," says Tuli. "I still find that to be the best part of this job - advising first time homebuyers on their mortgages. I get a real charge out of helping people, even these days - when the demands of my business pull me in so many other directions."
When Sushil Tuli started Leader Mortgage Company in 1986, he faced the challenges inherent in starting a new company--as well as other unique challenges. As a recent immigrant to this country from India, Tuli found that initially it is was difficult to be taken seriously by the mainstream banking and real estate communities. "I had the courage to strike out on my own, but soon learned that perseverance was even more important. It was a big risk for me, and I knew that my goals were there within my reach. But the difficulties of starting my own business were quite imposing at times, and in the early days I wasn’t sure whether this risk would pay off."
When Tuli first discussed his desire to start a mortgage company with industry leaders, one of his role models told him that “if you can take a `no’ with a smile, then you will succeed.” During his first few years in the mortgage lending business, Tuli says "I took a lot of no's with a smile. In the initial months of being in business, I would go to area real estate brokers, and compete with the big, mainstream lenders.
Tuli never gave up. He re-invented himself and the direction of his new lending company by concentrating on what he knew best - the immigrant community. For the first few years, most of Tuli's customers were immigrants as well. "From Chinese to Greek, Hispanic, Indian, Irish - they felt comfortable with me and my own background, and were really appreciative of my personal attention to their needs. I took their concerns seriously, so in turn they took my business seriously. This is what helped me build my base of clients."
In time, Sushil Tuli's ideas about reaching out to the immigrant community began to receive attention from his competitors and secondary mortgage market investors. During the early 1990's, Fannie Mae was developing a strategy to address the home financing needs of new and growing immigrant communities throughout the country. Fannie Mae saw what Tuli was doing, and soon he was appointed to Fannie Mae's Regional Advisory Board for the New England Region, where among other projects, Tuli worked with Congressman Joseph Kennedy’s office to spearhead a pilot effort to keep multi-family mortgages within reach of low- and moderate- income buyers.
Today, Leader Mortgage Company has grown into a formidable competitor in the mortgage lending industry in Massachusetts, and Sushil Tuli has also assumed a greater role with in the industry. He was recently named Chairman of the Massachusetts Mortgage Bankers Association, the largest association of mortgage lenders in New England.
On the outlook for the industry, Tuli stresses that the Internet is where lenders need to focus their attention. . “The market penetration of this medium is permanent and growing,” Tuli explains. “ Those lenders who are not on top of technology will be left behind."
With this in mind, Sushil Tuli intends to take the MMBA to a new level in both outreach to its membership and to consumers as well. Through the development of a dedicated website for the MMBA, Tuli hopes that by the end of his term, the Association will have new ways to provide information about the mortgage industry as well as to provide members with a consistent resource for programs and Association news. In addition, Tuli is working on upgrading the technological capabilities of the MMBA administrative office.
At Leader Mortgage Company, Sushil Tuli is preparing for the future by focusing on how new technological applications can improve his company's delivery of the highest quality customer service. Specifically, Tuli is examining how his office can improve in terms of networking, incorporating laptops, and new Fax-On-Demand options for product marketing and customer assistance, to name a few.
Sushil Tuli readily admits that the secret of his success is his employees. “I give credit to my employees for the growth and strong repeat business we’ve enjoyed lately. The employees at Leader Mortgage Company are my biggest asset - the real backbone and reason for our success.” Tuli maintains that at Leader, his employees work together as a team, and he stresses that his management style is not to micromanage, but to give employees the freedom to express themselves, make decisions, and assume significant management responsibility. “We have no middle-management here. We have various departments, and Department heads report directly to me.” Tuli strives to provide his employees above average compensation together with job satisfaction and security. “We are really a big family here, and it is important to me that my employees feel that they can plan their futures with confidence, knowing that they will continue to be valued and productive.”
For Tuli, customer satisfaction is always the ultimate goal. “Everyday we are judged on our responsiveness to the customer. That is why we can never take them for granted. Much of our business is repeat business, and “word of mouth” referrals. We constantly strive for complete customer satisfaction.” Sushil Tuli himself best exemplifies this, as he makes every effort to stay in touch with customers on a regular basis, inquiring about their satisfaction with their mortgage and the application process.
Clearly, Tuli still remembers his early days in the mortgage lending business, and continues to be grateful to his customers for his continued success. “I will forever be thankful for the confidence which customers have placed in me over the past twelve years.”
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