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  • Writer's pictureTodd Luhtanen

Agile Management: A Game-Changer for Mortgage Lenders

5 Advantages of Agile Management


Agile management is a mindset and approach towards organizational management that emphasizes responsiveness, flexibility, and continuous improvement. In today's fast-paced business environment, where innovation and adaptation are crucial for survival, adopting an agile management style can provide numerous benefits for businesses, teams, organizations, and individuals. Here are some advantages of using agile management in mortgage lending:

  1. Faster time-to-market: Agile development methodologies are designed to deliver working software quickly, typically in short iterations or sprints. Applying agile principles to mortgage lending can help reduce time-to-market, which is critical in the fast-paced lending industry.

  2. Adaptability to change: Agile methodologies prioritize adaptability and flexibility, enabling teams to respond to changes in the market or customer needs quickly. With changes to mortgage regulations, market trends, and customer expectations, an agile approach can help teams adjust their lending strategies accordingly.

  3. Transparency and collaboration: Agile practices emphasize open communication channels, regular team meetings, and transparency in the development process. Applying agile principles to mortgage lending can promote collaboration between different departments and stakeholders, enhancing operational transparency and reducing the risk of miscommunication or delays.

  4. Better risk management: Agile methodologies use risk-based iterative development, where risk is assessed throughout the project and prioritized accordingly. Applying an agile approach to mortgage lending can enable teams to identify and manage risk more effectively, helping organizations to mitigate losses and improve loan quality.

  5. Increased productivity and efficiency: Agile principles such as continuous improvement and lean management can lead to increased productivity and efficiency in the mortgage lending process. With continuous feedback and the ability to optimize processes, teams can identify and eliminate bottlenecks, automate manual tasks, and reduce errors or rework.


“Using agile management in mortgage lending can help firms to adapt to changing market conditions … and increase operational efficiency.”


Overall, using agile management in mortgage lending can help firms to adapt to changing market conditions, reduce time-to-market, collaborate effectively, mitigate risks, and increase operational efficiency. However, it's essential to note that agile methodologies are not a silver bullet and must be tailored to the unique requirements and constraints of mortgage lending organizations.


Agile Methods

Agile management originated in the software development industry, where the traditional "waterfall" approach, which involved completing one phase before moving to the next, proved to be inflexible and slow. Agile methodologies, such as Scrum and Kanban, emerged as an alternative approach that prioritizes collaboration, creativity, and customer feedback. However, Agile principles can be applied to any industry or organization, not just software development.


Here are some of the methods of an agile management style:

  1. Agile management emphasizes incremental and iterative delivery. Rather than waiting for the entire project to be completed before releasing it, Agile methodologies break the project down into smaller, more manageable pieces, called sprints or iterations. This allows for faster delivery of working software, products, or services, which can lead to better customer satisfaction and engagement.

  2. Agile management places a strong emphasis on communication and collaboration. The team works together to define the project requirements and goals, and everyone has a say in how the work should be done. This promotes a sense of ownership and commitment among team members, which translates into higher quality work and better outcomes.

  3. Agile management is all about being flexible and adaptable to change. Rather than following a rigid plan, Agile teams embrace change and can pivot quickly when needed. This is especially important in project management where changes are inevitable and can occur at any stage of the project. Agile methodology focuses on delivering the features that have the greatest business value first, and then communicating with customers in real time to enable direct feedback from them. By prioritizing quick delivery, adapting to change, and collaboration rather than top-down management and following a set plan, Agile teams can respond to change more effectively and efficiently.

  4. Agile management puts people first, which makes it an attractive approach for employees. Team members are encouraged to take ownership of their work and are given the autonomy and support they need to be successful. This leads to higher levels of job satisfaction and engagement which, in turn, drives productivity and innovation.

  5. Agile management is a continuous improvement process. After each iteration or sprint, the team conducts a retrospective to reflect on what went well and what could be improved. This feedback loop helps the team to identify areas for improvement and adjust accordingly. Over time, this leads to higher quality work and better outcomes.


Agile Adoption

Agile management is important because it enables businesses to remain flexible and adaptable to change. Rather than following a rigid plan, Agile teams embrace change and can pivot quickly when needed. This is especially important in today's fast-paced business environment where change is constant. By prioritizing quick delivery, adapting to change, and collaboration rather than top-down management and following a set plan, Agile teams can respond to change more effectively and efficiently. In addition to these benefits, Agile project management can also increase team morale by providing a sense of ownership and autonomy over their work.


So, how can you adopt an Agile management style in your organization? Here are a few key steps:

  1. Start with Agile training. To successfully adopt an Agile management style, it is essential to understand the underlying principles, values, and methodologies. There are many resources available online including books, websites, and consultants. The author and BlackFin can help you get started.

  2. Create an Agile team. Agile management is all about teamwork. It's important to create a cross-functional team made up of individuals with different skills and perspectives. This team should be empowered to make decisions and should have a clear understanding of the project requirements and goals.

  3. Break down the project into sprints. Agile projects are typically broken down into smaller, more manageable pieces that last anywhere from one to four weeks and should be designed to deliver a working product or service.

  4. Conduct daily stand-up meetings. Daily stand-up meetings are a key component of Agile management. These meetings are brief, 15-minute check-ins where team members share progress updates and identify any blockers or issues.

  5. Conduct retrospectives. After each sprint, it's important to conduct a retrospective to reflect on what worked well, what didn't work, and what can be improved. This feedback loop helps the team to continuously improve and optimize their processes.

  6. Embrace change. Agile management is about embracing change and being adaptable and flexible. The team should be open to feedback and should be willing to make changes as needed to ensure that they are delivering the best possible product or service.


Adopting an Agile management style can provide numerous benefits to your organization. By embracing flexibility, communication, and continuous improvement, Agile management and teams can deliver higher quality work, improve customer satisfaction, and foster a culture of collaboration and innovation. This can make your organization more adaptable to change in this ever-changing landscape. While there may be some challenges along the way, the benefits of adopting Agile principles are well worth it.

The BlackFin Group can provide training on agile management that will help you adopt a flexible and iterative approach to your projects. With a focus on delivering value to customers, responding to change, and collaborating with stakeholders, BlackFin Group will help you learn the principles and practices of agile management, such as Scrum, Kanban, Lean, and DevOps. BlackFin Group will also help you implement agile tools and techniques, such as user stories, backlog management, sprint planning, daily stand-ups, retrospectives, and continuous improvement.

To learn more about how we can help you improve your efficiency, quality, and customer satisfaction, contact BlackFin today. We would love to hear from you and discuss your needs and goals.

About the author: Todd Luhtanen knows mortgage lending technology like the back of his hand. He’s the COO of BlackFin Group, a consulting firm that helps banks and mortgage lenders with their business challenges. He’s been in the industry for over two decades, creating lending solutions and advising businesses on how to grow and improve. He also co-founded one of the first Loan Origination Systems ever. Besides that, he runs Talan Consulting and loves to find new and unique ways to improve business operations and efficiency in the lending world.


About BlackFin Group: BlackFin Group is a management consulting firm that serves the banking and mortgage industries. It offers a range of services and software products that help clients with strategic planning, capital markets, process improvement, technology selection and implementation, training, and change management. BlackFin Group has a team of trusted experts who have extensive experience and knowledge in the financial services industry. BlackFin Group is committed to delivering success, innovation, and customer satisfaction to its clients. BlackFin Group also provides industry insights through its reports, podcasts, and workshops.

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