Alyssa Shay

In layperson terms, what do you actually do at work?

I assess the risk of lending on specific properties through different means, mainly by reviewing appraisals. At this time I currently review mostly high risk conventional, FHA, and Jumbo (multi-million dollar) appraisals.

What is the one piece of career advice you wish someone gave you when you were younger?

Try experiencing as much as you can first hand before going to school for it. A lot of places will allow you to shadow (medical, finance, etc), which gives you real-world experience with what you'll be doing.

How did you pick your career? Did you know all along?

I always knew I wanted to be in the business world, specifically finance. I started my career as a Real Estate Agent, transitioned to a Loan Officer, then worked my way over to Collateral Underwriting which I feel is my true home. Some people may think these career avenues are boring, but I've always been fascinated by how complex they are.

When you were a student, did you do anything outside of school to build skills or get knowledge that has helped your career?

I thought at one point that I wanted to be in the medical field, so I shadowed a doctor for a day at the St. John Moross hospital in Detroit. The things I saw that day were horrifying and truly set in stone that I was not made for the medical field, which further reaffirmed my interest in business/finance.

How did you start building your network?

Believe it or not, I've had more success networking by meeting people at bars/restaurants, parks, grocery stores - basically everything besides traditional means of attending networking events, using social media, or handing out flyers/business cards. Those are all valuable resources as well, but people are much easier to network with when their walls are down and you can have a real conversation with them.

What is it like when your job gets tough?

My career can be very stressful at times, partially because it is so complex with miles of red tape and thousands of guidelines depending on the program (FHA, VA, conventional, etc). The hardest part is explaining these to people who aren't as knowledgeable or experienced with the specifics. It becomes very difficult sometimes to explain the "why" behind something because there are 20 more things you have to explain after that for it to make sense.

When did you get your first Big Break? How did you get it? How did it go?

My first "big break" was being hired as a Listing Agent for a property management company. The broker/owner was a regular at a restaurant that I bartended at, and as I mentioned earlier with networking, we got into a conversation about real estate and what I wanted to do as a career which just so happened to land me a job with his company. Everything went very smoothly until I realized I wanted to branch out into something more stable, preferably in the mortgage world. Real Estate can be a wonderful career, but it is purely commission compensated, which can be difficult to transition to if you don't have another reliable source of income while you build your network and referral basis.

What is the most useful piece of career advice you got as a student, and who gave it to you?

My aunt once told me to always keep pushing no matter how comfortable I get. I've taken this advice in stride over the last few years. I started making more money than my long-term goal ever was, but continued pushing. I've now accomplished more than I ever dreamed I would have at just 27 years old, but have made new even more ambitious goals because of this.

What is the biggest challenge you had to overcome to get to where you are now professionally? How did you overcome it?

I remember there was a point in time when I was a Loan Officer that I realized sales just wasn't for me. I became very depressed because I wasn't sure where I wanted to go from there, but I knew I wanted to stay in the mortgage industry. Luckily a position opened on a new team that was perfect for me at the time - working directly with Real Estate Agents to help them through their clients loan process. Eventually this team was moved to a different part of the company and I joined Collateral Underwriting which is where I truly believe I belong.

Did anyone ever oppose your career plans when you were young or push you in a direction you did not want to go?

I was always very interested in Psychology, but I realized early on that I just liked learning about it and didn't necessarily want a career in it. I took some Psychology classes in high school and college and was always at the top of my class. My teachers continuously tried to push me into that career field but I knew that it wasn't something I would be able to sustain as it's very mentally draining. Luckily I got my foot in the door with real estate while I was in college and decided to pursue the business world.