Caren Tank, Director of joint-venture operations, loanDepot
Caren Tank joined the mortgage industry in 2001 and has worked on everything from FHA insuring and processing to underwriting and funding. Her work primarily revolves around building innovative mortgage process flows and ensuring departments are run more efficiently. One of her most notable accomplishments in the past few years has been helping to retain a builder partner. Tank assembled a new operations team around the builder and designed a new process flow for underwriters, closers and funders, which resulted in higher volume and much faster closings. Since joining loanDepot, Tank has helped to grow this particular business from two states and 10 communities to seven states and 48 communities.
For Tank, success in this industry has meant developing the ability to challenge status quo: “My biggest challenge is overcoming the typical mortgage industry thinking of, ‘That’s how we’ve always done it,’” she says. “At loanDepot, we’re constantly looking for ways to improve process and create efficiency. That has led to better customer service for our builder partners, which creates a better home-buying process for our customers. It’s not always easy to avoid the status quo, but I’ve taken chances and found success because of it.”
Outside of her mortgage work, Tank supports Harvest Compassion Center, a food and clothing bank in Arizona, by organizing giving events during holidays such as Thanksgiving and Easter.