Lower’s Randell Gillespie talks mortgage tech solutions and authentic leadership


In the newest episode of the Power House podcast, HousingWire CEO Clayton Collins chats with Randell Gillespie, the chief production officer at Lower and a 2023 recipient of the HousingWire Vanguard Award

The duo dive into several topics, including Lower’s transformed culture and leadership structure following its acquisitions of Thrive Mortgage and Universal Lending. They also discuss fintech developments for loan officers, recruitment and even the CPO’s favorite hamburger. Gillespie joined Lower last year after the acquisition of Thrive Mortgage.

To start the conversation, Collins asks Gillespie for some background on Lower’s executive team and how each member brings their unique perspectives and experiences to the table. Gillespie says that the company thrives on synergy and collaboration rather than a traditional hierarchical structure. He mentions Craig Montgomery, Lower’s chief strategy officer and a previous guest on the Power House podcast, as one of several executive team members who have unique backgrounds and experiences.

But Gillespie also says that experience doesn’t matter without a shared vision and effective communication between team members — and Lower has that in spades.

Strong communication requires humility among the Lower executive team, along with an acceptance of rapid change that can make the industry better and enhance the customer experience. Gillespie also shares how Lower employs leadership committees to ensure that company leaders make decisions that benefit the organization and broader industry. 

Collins follows up with a question on how mortgage industry changes have shifted the ways that bankers and brokers offer financing to consumers. Gillespie says that the mission to provide value and help people get into homes hasn’t changed, despite the way that information is delivered today. But he also notes that it has become more important to mix in face-to-face time to establish a personal rapport with consumers. 

Before a discussion point on loan officers, Gillespie circles back and revisits Lower’s mission to guide consumers through homeownership. He says that Thrive’s culture and mission has mixed well with Lower’s, as both organizations care most about doing what’s best for their customers.

Thrive also delivered new technology that Lower hadn’t previously used, allowing the company to offer in-house tech tools and partnership solutions that bring unique value to consumers.

Collins also asks Gillespie to explain what loan officers look for today in terms of information and how Lower acts as a source of truth for LOs. From there, Gillespie introduces three areas of focus for LOs known as the “three Ls.” These include lead generation to attract clientele; learning about the industry via online content and coaching opportunities; and being lean by streamlining expenses over time. 

He emphasizes that there are many opportunities to educate consumers about the mortgage industry, but it’s crucial to first establish yourself as an expert in the space. Lower regularly releases newsletters and other types of content to keep LOs informed, regardless of their experience or sales success.

“When they start to understand the behaviors of investors and what that means, I love watching the light bulb go off in some of our people’s minds and eyes,” Gillespie says. “Now they understand how they can help their cost and be more confident about what they’re delivering. Let’s face it: At the end of the day, that’s what the customers look forward to.”

To end the conversation, Gillespie explains how these tools impact the market and how LOs should utilize them. He urges loan officers to focus more on using what they have rather than relying on technology to bridge the gap. But he acknowledges that tech tools can help LOs adapt while continuing to offer unique value to the market. 



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