Year One in CRE Mortgage Banking: Lessons From a New Advisor

From cold calls to closing deals, one of Slatt Capital’s newest producers shares what he’s learned about relationships, lenders, and the long game.

Neil Holliday joined Slatt Capital’s San Diego office 18 months ago after eight years working in various roles of business development, program management, and marketing. Now in the world of commercial real estate mortgage banking, he continues to build his foundation through networking, mentorship from senior leadership and fellow producers, and a disciplined approach to learning the business. In his first 18 months, Neil closed just over $56 million in transactions. What he’s found through cold calls, navigating unexpected deal complexities, and some well-timed advice from colleagues is that this business rewards patience, preparation, and people skills in equal measure.

We sat down with Neil to hear what the first year has really taught him.

What surprised you most in your first year?

What surprised me most was how creative this business really is. Coming from a background in marketing, I initially assumed the role would be heavily analytical. While the underwriting fundamentals are essential, I’m finding that creativity can be a real advantage in how a deal is positioned and the narrative behind it. I enjoy the process of being equal parts analytical and creative to bring a deal together.

I’ve also come to appreciate the consistent problem-solving required throughout the process of closing a loan, and the teamwork involved. Working so closely with a borrower that it feels like I’m an extension of their team is something I didn’t expect. I enjoy the relational component and working to find a solution that helps them execute their business plan.

What’s been the hardest adjustment?

Getting comfortable with uncertainty. Every deal is different and can have frequent surprises that come up in underwriting. My job is to stay solution-oriented and keep momentum toward the end goal. What I’m learning is to focus on controlling what I can control, while acting as the quarterback alongside our analyst to coordinate with the broader team and ensure we’re getting what’s needed to keep the deal moving forward. Another adjustment has been to stay proactive rather than getting too focused on any single deal.

One of the senior advisors here, Gary Goss, gave me some early advice that stuck: the moment you get a deal under application, go find the next one. The machine doesn’t stop.

What’s the biggest lesson that’s changed how you approach transactions?

Controlling the narrative early. I hear it from our executive leadership team constantly — get as much information as you can upfront, establish the relationship, and frame the deal clearly before it ever goes to a lender. If there’s a weakness in the deal, I want to understand it before the lender finds it. Being proactive about that protects our clients and reflects well on our expertise.

What do borrowers most often misunderstand today?

I’ve noticed that borrowers tend to come in focused purely on the lowest interest rate, but the cheapest rate isn’t always the best execution. The details of how the loan is structured and the terms beyond the rate can fundamentally change the overall value of a loan product. Part of our job is helping borrowers make a calculated decision to find the best fit for their business plan.

What advice would you give someone entering mortgage banking today?

Three things:

• First, dig into lender data early — look at how deals were quoted, why lenders passed, what the terms looked like. Try to learn the lender’s approach and appetite (or lack of) to deals across every asset class as much as you can.
• Second, listen more than you talk. One of the most valuable lessons I’ve learned is how much you can gain by sitting and absorbing how experienced producers handle conversations. Being around our team leadership and listening to how they pitch borrowers and lenders, navigate objections, and build rapport is invaluable.
• Third, be patient. This is a long-game business built on relationships that compound over time. Results come, but you have to put the work in and stay disciplined.