Managing a Mortgage Business

Paper Summary:

The paper explains that since a mortgage business is highly volatile and subjected to the market forces of financial and real estate fields, the responsibilities of the management assumes greater significance. The paper further explains that the delegation in the decision-making process results in faster dispersion of larger number of low value mortgage loans leaving the senior managers with more time to concentrate on strategic policies and high value transactions. The paper explores delegation in the planning, organizing, leading and controlling processes and discusses the skills required for effective delegation.

Outline:
Introduction
Delegation of Managerial Responsibilities
Delegation in the Planning Function
Delegation in the Organizing Function
Delegation in Leading Function
Delegation in the Controlling Function
Skills Required for Effective Delegation

From the Paper:

"Mortgage business is the one in which a customer is provided with financial assistance against the gurantee of a property of the customer, either already owned or going to be procured by him/her. The objective of the business is to generate profit for the money invested in terms of interest or the cost of the finance collected from the customers. It is one of the safest ways of doing business with money, since the property of the customer is hypothecated to the firm lending money to the customer till the time the customer repays the financial assistance received by him/her along with the interest. Since this business is highly volatile and subjected to the market forces of financial and real estate fields, the responsibilities of the management of mortgage business assumes greater significance."

Sample of Sources Used:

• Gareth R Jones, Jennifer M George, Charles W L Hill, Contemporary Management, 2nd Edition, 2000, Irwin McGraw Hill.
• Samuel C Certo, Modern Management, 9th Edition, 2003, Pearson Education Inc.

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