From insurance to mortgages: Freedom Mortgage founder shares career lessons

When Stanley C. Middleman graduated with an accounting degree in 1976, jobs were scarce as the U.S. economy recovered from a recession. One of the jobs he transitioned into was  selling insurance, a decision that eventually led him to launch Freedom Mortgage, now one of the nation’s largest independent mortgage companies. 

“I was trying to feed my family, and I was just getting up in the morning every day and going to work,” recalled Middelman, who is also vice chairman of the Philadelphia Phillies. But simply doing his job wasn’t enough, he added. “I really wanted to do something of value—and that’s why I went into business.”   

Middleman spoke to students Dec. 2 at Rowan University’s Business Hall during “Evening with an Executive,” an ongoing series organized by the Rohrer Center for Professional Development, part of the Rohrer College of Business.  

Students received complimentary copies of Middleman’s biography, “Seeing Around Corners,” and participated in the Q&A session format led by MBA fellows Lauwinda Cherilus and Isabella Giampetro, and by marketing majors Bar Leshed and Oliva Szucs.  

Asked how innovation helps his company remain competitive, Middleman said adaptability is a key skill.   

“The world around you is ever-changing and there are more things that happen in the world that you can’t control than things you can control,” Middleman said. “If you aren’t willing to accept … and appreciate change, you’re not going to succeed.”   

When interest rates fell and insurance became harder to sell as an investment, Middleman shifted to mortgages, eventually building the skills and knowledge he needed to found his own company in 1990.     

Middleman stressed the importance of soft skills for building relationships and learning from others. 

“You have to take knowledge,” he said. “By giving of yourself, people will want to give back to you.”  

“My most successful tactic in obtaining knowledge was by interviewing people for jobs that I didn't know anything about and giving them the opportunity to tell me what they needed,” Middleman added. “When I hired somebody, I made it my job to learn as much as I could from them.” 

Middleman reminded students that success is cumulative and built on failure. He told students to  take action, make plans, and continue to be better every day.

Later in his career, Middleman set out to “do good” by serving on the boards of several nonprofits in Philadelphia and contributing to charitable causes, including a $1 million donation to build the Stanley Middleman Center for Jewish Life at Rowan. 

“Make the world better for the other people in the room,” he advised. “So the world that you live in is a better place.”

Middleman called his role as vice chairman of the Phillies “incredibly cool,” even though he has limited influence on team decisions.  

As for his favorite Phillies player now, he said, he can’t pick one: “I love them all.”