Mortgage Women Magazine 2023 Issue 4

CELEBRATING MORTGAGE STARS

WOMEN WHO RISE ABOVE THE REST

> PAGE 51

THE INTERNET PIONEER

ROCKET’S EILEEN TU HELPED CHANGE MORTGAGES FOREVER

INSIDE:

STEP OUTSIDE THE ZONE > PAGE 5 TURN UP THE EMPATHY > PAGE 18

SINGLE MEN ARE LOSERS >PAGE 30

CELEBRATING MORTGAGE STARS

WOMEN WHO RISE ABOVE THE REST

> PAGE 51

THE INTERNET PIONEER

ROCKET’S EILEEN TU HELPED CHANGE MORTGAGES FOREVER

INSIDE:

STEP OUTSIDE THE ZONE > PAGE 5 TURN UP THE EMPATHY > PAGE 18

SINGLE MEN ARE LOSERS >PAGE 30

38

PUSHING HER LIMITS OFF-ROAD

Docutech’s Emily Shapiro keeps on trucking, off-road trucking that is, in her off-hours.

By SARAH WOLAK

FEATURES

12 NOT THE FAINT OF HEART

Be a leader who helps — not hurts — her team.

By CHRISSY BROWN

14 THE ‘ONE THING TRICK Remove unnecessary distractions from your life.

By TINA ASHER

16 A REGULATORY CRACKDOWN APPROACHES

Error-drenched loans are an invitation to unwanted oversight.

By TYNA-MINET ANDERSON

18 PUT SOME EMPATHY IN YOUR MARKETING

Tapping into the human connection will help expand your audience.

By MARY MARGARET HOGAN

22 THE ROAD TO BECOMING LICENSED

A step-by-step guide to obtaining a state mortgage license.

By VANESSA BODNAR

30 IN THE HOUSING MARKET, MEN ARE LOSERS

Single women bought 1 in 6 homes in 2022.

By SARAH WOLAK

32 THE CREDIT STINGERS

Unmasking minority financial literacy.

By MICHELE BODDA

ISSUE 4, 2023

34 LAUNCHING A REVOLUTION

This Internet pioneer helped change mortgages forever.

By KATIE JENSEN

48 WOMEN ON THE MOVE

Major new hires or promotions in the mortgage industry.

SPECIAL RECOGNITION SECTION

51 CELEBRATING THE NATION’S MORTGAGE STARS

Mortgage Women Magazine sought out women making special marks in the industry and in their companies. From hundreds of nominations, we present 23 ladies of achievement who are clearly among those who Rise Above The Rest, in our annual Mortgage Star Awards special section.

Monthly Departments

4 Editor’s Letter: Breaking Out Of The Box

5 First Cup: Map Your Route To A Happy Future

6 Trailblazers: From Army Brat To Chief Operating Officer

26 Ask The Experts: How Machine Learning Is Supercharging The Industry

44 Mortgage Moms: Stressing Out On Summer

Encouraging & Inspiring News T

he mortgage industry is constantly evolving, and with it comes challenges such as managing staffing to volume, compliance, and guideline changes. Despite these challenges, the industry has continued to adapt and thrive.

STAFF

Vincent M. Valvo

CEO, PUBLISHER, EDITOR-IN-CHIEF

Beverly Bolnick

ASSOCIATE PUBLISHER

Christine Stuart

EDITORIAL DIRECTOR

David Krechevsky

EDITOR

Kelly Hendricks

MANAGING EDITOR

Keith Griffin

SENIOR EDITOR

Gary Rogo

SPECIAL SECTIONS EDITOR

Mary Quinn

MULTIMEDIA PRODUCER

Erica Drzewiecki, Katie Jensen, Ryan Kingsley, Sarah Wolak

STAFF WRITERS

Hendricks

A recent positive development is the announcement from the Federal Housing Finance Agency (FHFA) to rescind loan level pricing adjustments (LLPAs) for borrowers with high debtto-income ratios. This move will make it easier for lenders to navigate pricing changes throughout the loan process, and ultimately make homeownership more accessible to a broader range of borrowers. It is encouraging to see the FHFA taking steps to ensure that the mortgage industry continues to meet the needs of customers.

As the mortgage industry continues to evolve, it is essential to recognize the women who are leading they way. This issue of Mortgage Women Magazine features inspiring stories of women who have received this year’s Mortgage Star Award. These women have made significant contributions to the mortgage industry through their hard work, dedication, and leadership.

We hope their stories will inspire other women in the industry to pursue their goals and make a difference.

Tyna-Minet Anderson, Tina Asher, Michele Bodda, Vanessa Bodnar, Laura Brandao, Chrissy Brown, Ashley Gravano, Mary Margaret Hogan, Stacy Wilson

CONTRIBUTING WRITERS

Alison Valvo

DIRECTOR OF STRATEGIC GROWTH

Steven Winokur

CHIEF MARKETING OFFICER

Nicole Coughlin, Nichole Cakirca

ADVERTISING ASSOCIATES

Julie Carmichael

PROJECT MANAGER

Meghan Hogan

DESIGN MANAGER

Stacy Murray, Christopher Wallace

GRAPHIC DESIGN MANAGERS

Navindra Persaud

DIRECTOR OF EVENTS

William Valvo

UX DESIGN DIRECTOR

Andrew Berman

HEAD OF CUSTOMER OUTREACH AND ENGAGEMENT

Tigi Kuttamperoor, Matthew Mullins

MULTIMEDIA SPECIALISTS

Melissa Pianin

MARKETING & EVENTS ASSOCIATE

Kristie Woods-Lindig

ONLINE ENGAGEMENT SPECIALIST

Kelly Hendricks

Managing Editor, Mortgage Women Magazine Khendricks@ambizmedia.com

Mortgage Women Magazine welcomes your feedback. If you have comments, questions, criticisms, praise, or information to share with us and our readers, please write us at Khendricks@ambizmedia.com.

OUR MISSION

Mortgage Women Magazine is dedicated to providing quality informational/ educational content that betters women in the mortgage process at every step. The content is oriented to help women progress their understanding of the residential mortgage banking business and develop their skills at improving efficiency, effectiveness and profitability at all levels.

Submit your news to editorial@ambizmedia.com

If you would like additional copies of Mortgage Women Magazine Call (860) 719-1991 or email subscriptions@ambizmedia.com www.ambizmedia.com

© 2023 American Business Media LLC. All rights reserved. Mortgage Women Magazine is a trademark of American Business Media LLC. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Advertising, editorial and production inquiries should be directed to:

American Business Media LLC 88 Hopmeadow St. Simsbury, CT 06089 Phone: (860) 719-1991 info@ambizmedia.com

Kelly

MAP YOUR ROUTE TO A HAPPY FUTURE

These steps will make your journey forward more encouraging

By ASHLEY GRAVANO, Mortgage Women Magazine, Contributing Writer

Do you remember before GPS we would follow a map (that paper thingy that has thousands of little lines) in hopes to find your location? Then we upgraded to Mapquest that was awesome! Until GPS came along and now none could ever imagine using that old map again. Getting from Point A to Point B without any issue, detour, or accident is important for many reasons. Mainly safety and sanity.

Sometimes I think how nice it would be to have a map to follow for life. One with no detours, accidents or unexpected events that can ruin your trip. But at the same time, isn’t life all about learning to reroute yourself as needed in your professional and personal environments? You have to learn to follow a different road, even when unexpected.

I think post-COVID many people have decided to take a different road: a road three years ago they would never take. Whether it be getting a job in a new industry or a different position with maybe less responsibility so they can “enjoy the ride” a bit more. We’ve seen massive changes in our industry, some by choice, some not so much.

So, when you’re finding yourself changing routes or maybe you’re lost and not sure where to go, what do you do? Slowww down. Pull over even and take some time to rest. Ask yourself what happened, how it happened, and what can you learn from it.

Call a friend. It’s always helpful to talk to your friends and get their thoughts on how to get back on track.

Read and research. So many books out there can help you with change of all sorts.

Talk to a career/life coach, someone who’s trained to help people find their way.

Listen to a podcast. There are so many great motivational ones out there. I love Gary V and Mel Robbins.

Find hobbies that bring you joy. The more you’re happy and satisfied, the easier that road will become.

Learn to say no! Yes I said it! Too often we just say yes to save someone else’s feelings or make someone else happy, but it’s OK to say no. If they don’t understand, then that’s on them!

Say yes to things that you hesitated on in the past that you really wanted to do but were maybe out of the way. The road of life is short although sometimes it doesn’t feel like it.

Don’t be afraid! I really believe in the cliché everything happens for a reason! We may not know that reason right away but trust that the reason makes sense.

Sit back and enjoy the ride! n

Ashley Gravano is vice president of product solutions at Mortgage Cadence.

From Army Brat To Chief Operating Officer

Suzy Lindblom in front of her 7th generation great grandmother, Hannah Duston, the first woman to have a statue in the United States.

ARC HOME’S SUZY LINDBLOM ADVOCATES STEPPING OUT OF YOUR COMFORT ZONE AND BEING HEARD

By LAURA BRANDAO, Contributor, Mortgage Women Magazine

This month I have had the pleasure of speaking with Suzy Lindblom. She is the chief operating officer of Arc Home LLC, and lives in the Dallas, Texas area. Suzy is responsible for the operations, post closing, credit risk, training, and strategic initiatives for the corporation.

She was born in Germany, growing up as an “army brat” with her family moving around constantly during her younger years. Her dad was a master drill sergeant; Suzy credits her upbringing for her having a thick skin from the start and being able to handle anything that comes her way.

How did you get your start in the mortgage industry?

SL: I started my career at the California School of Mortgage Banking. I was hired there as a receptionist, but I found the work interesting and started taking their classes as well. After a year, I found a job at a mortgage company and started as a processor, working my way up to an underwriter in three years. I worked my way up from there.

I have been in this industry for nearly 40 years, but I still find the work fascinating and fulfilling!

What does being a trailblazer mean to you?

SL: For me, being a trailblazer means being willing to step up, speak up and make your presence heard and seen. I am particularly honored to be considered a trailblazer.

When I started in this industry over 40 years ago women were only considered for administrative roles, not management nor decision-making positions. That has changed considerably, although there is still a long way to go.

I consider myself lucky to have been surrounded by strong female role-models who provided such amazing support and guidance to help me in my journey to the C suite. Whenever I felt like I was an imposter and didn’t deserve to be promoted or advanced, I could look at the ladies around me. Seeing what they had accomplished, I was inspired to follow their example and keep moving up.

I make it a point these days to mentor young women coming up through the ranks, so they know they are not alone on this path. I remember how important it was for me to have role models to look up to and rely on for encouragement. I want to provide that for the next generation of female change makers.

Where do you see yourself and women in general in the industry over the next five years?

SL: I want to continue to mentor and help young women in our industry build successful careers.

My hope is that we see more and more women working their way up the ladder, all the way to CEO and other leadership roles in our business (and other fields as well!). We don’t have enough yet and that is a detriment. Women have a different approach, so having a balanced view of the challenges we face can only benefit everyone today and into the future.

“F-E-A-R has two meanings: Forget everything and run or face everything and rise. The choice is yours.”

> Zig Ziglar

What is your professional superpower?

SL: My superpower is my intuition about people. I can see the potential in others; now from the position I have reached, I can help them recognize their own worth and encourage professional growth.

Many people get scared when a big goal is within reach. It can be overwhelming and cause a lot of anxiety about what will happen next.

I love being there to support them when that happens and help them realize they have what it takes to move up. It is an incredibly satisfying feeling!

Tell us something about your career in the mortgage industry that was pivotal to your achievements today.

SL: The pivotal moment was when the president of the company took a chance on me (a 25-year-old underwriter) and basically forced me to take a step up. He believed in me even when I didn’t, and it gave me the confidence I needed to take a leap of faith.

I still had doubts on my journey but that first push got me through a door that led to the next and the next. Each time I moved forward, I felt my confidence grow. I might not have had the chance to learn that if I had not had the initial impetus he gave me.

What advice would you give to a woman entering or trying to move up in their mortgage career?

SL: My advice is to learn, learn, and keep learning. I would implore them to make time to volunteer in their

Suzy Lindblom with her husband, Ron.

Find a mentor who you can trust to let you know when you are on the right path and when you are not.

communities and become a known, trusted face. Trust is a hugely important component in our industry.

Make their aspirations known to those who have the capacity to make it happen. Be prepared to work hard and step forward when necessary. Let their voice be heard even if the confidence is not always at its strongest, because it lets those around you know you are committed to your goals and willing to push toward them with determination.

It is so important not to let anyone tell you there is something you cannot do. Letting that negative voice into your head will be unhelpful and damaging to your confidence. I am not afraid to admit it took me years to get past the feeling that I was not capable of the things I am very good at.

I can’t overemphasize the importance of finding a trusted mentor. Surrounding yourself with people who will support you and provide honest and constructive feedback as you move through your career is paramount.

What does success mean to you?

SL: To me, success means eventually leaving my chosen career secure in the knowledge that I have made a positive and lasting impact on the lives of those I have encountered.

My feeling of success will be through leaving a legacy of being a mentor and a valued teammate; someone who made the lives of others better for my involvement in their life and career.

How do you recommend navigating change in an industry that is always changing and growing?

SL: It is vital to always be open to learning new things, and a great way to do this is to get involved with industry groups. Speaking with colleagues and sharing ideas provides you with opportunities to improve your own processes alongside offering suggestions to others who want to do the same. There will always be that new piece of software or innovative way of streamlining the lending process and if you are “in the loop” with others, you stand a better chance of being able to take advantage of the information.

One of my biggest regrets is that I didn’t do this sooner. I likely missed out on some chances to improve processes in my role. I can’t state strongly enough the importance of keeping current and informed about innovations in our industry.

Another thing I think is necessary is to have a good sense of humor. This may sound strange but if you can laugh or share a lighter way of looking at a situation, it not only helps you reduce stress, but it can also help to bond with colleagues and assist them in navigating difficult days.

I asked a colleague one day how he was doing. He said bluntly, “I woke up this morning.” I found that to be a lighthearted yet profound way of setting expectations; understanding that life (and work) can be tough and unpredictable but there are always blessings to be grateful for. Look for those blessings disguised as humorous moments and you will be able to weather even the toughest of storms.

Do you think it’s important to have a mentor?

SL: Having a mentor is critical to a successful career. I have had a few over the years and I have been a mentor to others as well.

Mentors provide honest feedback, support, and sage advice

when you need guidance, are at a crossroads, or simply need a boost to your confidence.

Mentors don’t always have to be positive either. I once had a moment when I looked at someone on a call with me and they praised me for being stressed and negative. I realized this person was not someone I wanted to emulate. It gave me pause, making me think about my own actions and reactions to the situation. I came to understand that I was not acting in the way I would expect of myself and changed my attitude about my own behavior.

Find a mentor who you can trust to let you know when you are on the right path and when you are not. The honest feedback will let you adjust as needed and see yourself reflected in another’s eyes, which is invaluable.

What do you enjoy doing outside of work time?

SL: I love to spend time with my grandchildren and my family. We are a very close family, and we treasure the time we get to be together, whatever we happen to be doing.

My husband and I love to travel; we are planning a cruise to England, Ireland, and Scotland this year.

How do you want to be remembered in our industry?

I want to be remembered as someone who helped others to advance and thrive in their careers. I would like to be the type of boss who is thought of as fair and motivating to those who work for me.

I am passionate about pushing people to do their best and be their best. That is the kind of legacy I would like to have. To have left the industry better because of the people that I inspired to aspire to excellence and use their talents to the fullest.

How do you find your voice?

SL: It honestly took me years to find my voice. When I finally did, it was because of people who saw potential in me, pushing me to speak up when I had an idea or wanted to state an opinion.

Finding your voice means stepping out of your comfort zone and letting yourself be heard. Even if every idea isn’t the best, the confidence to speak up comes from practice. It comes from taking a deep breath and putting your ten cents worth into the discussion, then learning from the results. The more you speak, the more confident you become that what you have to say has value and needs to be expressed.

It is also important to remember that even if someone doesn’t like or appreciate your idea or opinion, that doesn’t

If you can laugh or share a lighter way of looking at a situation, it not only helps you reduce stress, but it can also help to bond with colleagues.

mean you were wrong. Sometimes others simply don’t understand or aren’t ready to process what you have to say. Or they process information differently than you do. Present your ideas to their presentation style. Keep trying!

By far the most important piece of advice I was ever given was that I should learn to stand up for myself and my values no matter what the situation I find myself in. That has resonated with me all my life and throughout my career.

What’s your biggest fear and why?

SL: My biggest fear is failure. I have always had imposter syndrome and although it has lessened over time, it has never completely dissipated.

The feeling that I might have overreached my abilities or would let others down still shows up now and then. I think it will always be there lurking but that isn’t necessarily a bad thing. What I have found is that generally, my fears aren’t reality and they can actually encourage me to push myself harder toward achieving the goals I have set.

I always want to be the one who sets the example and makes sure I don’t ask anyone else to do more than I am willing to do myself. A little bit of fear can add just the edge I need to succeed.

What is your favorite book or podcast that you would recommend and why?

SL: I have two favorites. “Spark” by Annie Morgan, Courtney Lynch and Sean Lynch. It is an incredible book that talks about how any individual can change a company by being the spark. Someone who is willing to step up and be the change that is needed to push everyone to higher levels of achievement.

My other favorite is “You’ve Got This!” by Margie Warrell. It is a very motivating book that helps you to realize you

do have what it takes to make the next bold move in your life and your career. It gives you a confidence boost to believe yourself worthy of the advancements you seek and to seize the opportunities that arise without letting fear or feelings of unworthiness hold you back.

How do we propel more women into leadership roles within our industry?

SL: Be a mentor and support each other. It sounds simple but I think we must realize that it will take women to get more women into senior positions in our industry and other businesses as well.

We are each other’s biggest asset when it comes to encouragement, support and leading by example.

When I started in this industry, women were in lower administrative roles and rarely, if ever, advanced to management positions. I think this was not only a function of society and business seeing those roles as inherently male, but also women themselves not feeling that they could aspire to higher career goals.

That has changed but we still have work to do. When women reach down and offer their hand to pull others up with them, we all benefit. I want to see that to continue and to be more prevalent as the future unfolds.

As this article is all about being a trailblazer, I would like to say that I feel that I have been all about encouraging others to be their best. I have always been passionate about giving others the confidence to pursue their dreams and learn their value for themselves instead of having to rely on others for validation.

I once had a young woman approach me at a conference and refer to me as the “fairy godmother of VP.” This was after a speech that was given at the conference referred to me as having given another young woman a chance to advance. That moment has always stuck with me and showed me how important it is for women to lift each other up.

I have learned, over a long career, that standing up, speaking out and having the courage to express yourself is the path to success. I also have had the honor of being able to pass those lessons onto women in whom I see potential and don’t deserve to be pigeonholed into roles that they see as their only options.

All options are on the table for all of us; I am hopeful that we will see exponentially more women reaching for their dreams in the knowledge that they are worthy, capable, and deserving of success. n

Suzy Lindblom and her granddaughter, Halloween 2022.

When women reach down and offer their hand to pull others up with them, we all benefit.

Infectious Or

Insidious?

IS YOUR LEADERSHIP STYLE HELPING OR HURTING YOUR TEAM?

By: CHRISSY BROWN, CMB, AMP, CRU, Contributor, Mortgage Women Magazine

Leadership certainly isn’t for the faint of heart. You have heard the saying, “It is lonely at the top”. That always sounded untrue to me until it became a reality. Not only is it lonely but everyone is watching. Your attitudes, your stress levels, your reactions, your confidence, your balance, among other things. I have a co-worker that constantly reminds us that “the employees will take on the personality of the leader.” Too often we brush that off as another “leadership cliché” or something that feels untrue. I think as leaders we don’t realize we have that much impact. What we want is to make solid decisions that are the best for both the company and the employee. Outside of that, we don’t think we carry that much impact; however, that simply is not true. I challenge you to look around your organization. If you think through your organization, think of a team that is generally known for

being positive, upbeat, kind, and hardworking. Now examine their leader. Most likely you will find that their leader is positive, upbeat, kind, and hard-working. If you think of another team that is analytical, conservative, docile. I would probably guess that their leader carries those qualities as well. Same goes for a team that is stressed, reactionary, dramatic and burned out. Their leader is most likely

exhibiting their stress to the team. Why does this matter? Well, in my humble opinion, it matters now more than ever. Everyone in our industry has experienced a great deal of stress, anxiety, and pressure for years now. The beginning of the pandemic was over three years ago. As an industry, think about what we have been through in the last three years. Navigating a global pandemic. Employees that have their children home with them and were responsible for at-home learning. The interest rate drop to historical lows. The desperation to hire operations folks to handle the influx of volume. Mortgage professionals working long grueling hours just to make it all happen. Followed by the largest rate hike we have seen in history. Multiple layoffs. Instability. Companies being sold. Companies closing. The financial pressures to exist in this market. Anxiety, fear, pressure, and stress. As leaders we are not exempt from

feeling all those things. In fact, the pressure throughout the last few years can feel overwhelming. It is so very hard to try and appear positive when you are experiencing that anxiety and fear. It feels impossible to hide your overreactions when you are operating from complete burn out. The problem with this incredibly human response to intense pressure and stress lies in the fact that when we show up like this, our employees begin to take on that personality. When you have a staff of folks that are reactive, burned out, negative and so on, you end up creating an environment that is unhealthy. Which in turn creates more stress for yourself. It becomes a cycle. It is imperative, in this environment, that we show up as our best selves. Show up the way we want to see our employees show up. This will in turn create an environment that will ease your stress.

So how do you break the cycle? The first thing I would suggest is to create

some accountability for yourself. Ask a colleague to keep you aware of how you are showing up. As much as it seems impossible, create balance in your life. Understanding that operating out of a state of exhaustion only creates more work, it is crucial that you take control of your stress and build a balance. Balance looks different for everyone. Take a moment, pause, and think about what balance looks like for you. Once you determine that, begin to build that into your schedule. Remember, gone are the days where burn out is worn as a badge of honor. We have progressed past that and now have enough scientific

evidence that shows burn out serves no one well. Make sure you stay highly aware of how you are showing up. Lastly, remember your why’s. What keeps you in a leadership role? What motivates you? What inspires you? Continually reflect on those things and create a strong center of balance and purpose. Like I said, leadership certainly isn’t for the faint of heart. However, leadership has the ability to change the experience your employees have daily, which in turn changes lives. n

Chrissy Brown is chief operations officer for Atlantic Bay Mortgage.

What we want is to make solid decisions that are the best for both the company and the employee.

The ‘OneTrickThing’

REMOVE

UNNECESSARY DISTRACTIONS FROM YOUR LIFE

By TINA ASHER, Contributing Writer, Mortgage Women Magazine

It’s tough to succeed at just about anything with too many distractions. Not too many people will argue with that. Think back on the times when you got the most accomplished. You probably had a laser focus. Your energy was high. Whatever the situation, you were fortunate to find few distractions. There weren’t too many roadblocks or hurdles that got in your way. Your time, energy, and possibly money were devoted to a singular vision. That focused effort leads to the desired result because the human brain loves order.

Your brain doesn’t like distractions. It hates lots of sensory clutter, whether physical, visual, or from your other senses. Structure and order are beautiful to the human brain. So when you focus on one objective, with few to no distractions, you have a great chance at success.

One way to lead a more fulfilling, rewarding, and successful life is to use the “one thing” trick.

CHANGE JUST ONE THING IN YOUR LIFE

What small change can you make today that will push you closer to making some incredible dream a reality? You want to think about just one thing. Don’t give yourself a laundry list of activities, or you’ll lose focus. Even if all those things need to happen before you achieve something, you can only do one thing at a time. Studying several different necessary steps to achieve a goal will distract you.

SO JUST TAKE ONE STEP

Whenever you have some free time, ask yourself what one thing you can do right now to give yourself a more focused approach to achieving a goal. What one thing could you accomplish in the next few minutes that would remove an unnecessary distraction or time-waster from your life?

When you have more time to devote to this

task, take it one step further. Sit down with your planner. Ask yourself what one thing you can do over the upcoming weekend to give you more clarity and focus regarding something important to you. Then think about a larger “one thing” activity you can tackle next week. It might take several days to accomplish, but it’s still just one thing.

Do the same thing for next month and next year. The farther ahead you plan, the bigger that one thing can be.

THEN BREAK IT DOWN INTO BITESIZED ACTIONS THAT ARE EASY TO TAKE

Maybe the most important thing you want to do next year to remove distractions from your life and accomplish what really matters is to relocate. The place you live now is not conducive to achieving an important goal. It could be that geography is holding

you back. For whatever reason, you know that relocating to a specific city will not only clear away distractions but also provide you with the mental and emotional energy to stay focused on some big task.

Start asking yourself some questions. What’s it going to take to relocate in one year? You need to do several things to accomplish that one big thing. Start scheduling those smaller actions. Put them in a logical sequence and get to work.

Removing distractions one at a time may not seem like much at first. Eventually, they add up and make an exponential impact on your life. They can reveal what’s necessary for you to achieve your goals and live your dream life. They also remove the unnecessary from your life, so you can make more efficient and productive use of your time. n

Tina Asher is a coach and founder of Build U Up Consulting.

Tina Asher

Whenever you have some free time, ask yourself what one thing you can do right now to give yourself a more focused approach to achieving a goal.

On The Brink Of A Regulatory Crackdown

ERROR-DRENCHED LOANS ARE AN INVITATION TO UNWANTED OVERSIGHT

By TYNA-MINET ANDERSON, Contributor, Mortgage Women Magazine

Interest rate hikes take time to work through the economy. Since the Fed started raising the rate last year, we have seen a massive decrease in mortgage business and major banks fall. We don’t know yet what other parts of the economy could fall under the strain of the higher rates, but it’s likely to come with some additional regulation. The IRS received $80 billion in funding, a majority of which is set to go towards auditing companies. As high inflation continues to be persistent, higher interest rates, higher home prices, limited housing stock, are all pushing home buyers and mortgage borrowers to the maximum qualifying ratios. According to a recent Fannie Mae report, many of those borrowers exceeded

allowable ratios, requiring lenders to consider a more robust Quality Control (QC) program. Time to start increasing compliance across the board. Might I recommend making the first step a more robust QC policy.

“In the past 12 months, Fannie Mae has seen a notable increase in loans that have both loan-to-value (LTV) ratios over 90% and debt-to-income (DTI) ratios over 45%. We’re also seeing that borrowers are more likely to fall outside of traditional credit boxes; examples include purchasers whose credit approval is partially based on rental income history or borrowers who have no credit score at all. To meet this challenging environment, lenders are highly encouraged to maximize

Tyna-Minet Anderson

the benefits from their prefunding QC program and look closely at loans with little margin for error.” *

QC starts with building a relationship with the borrower, understanding what their intentions are in the next 12 months. Are they retiring, plan to change jobs, buy a new car, or become an entrepreneur? At the time of the loan application, everything may be 100% correct; however, this is the time to listen to your clients and their aspirations for the future. Guide the borrowers on a path of home ownership that has the opportunity for success.

The second most important QC component is processing and underwriter due diligence. This means developing a strategy that will identify high risk loans that will have additional reviews, and QC audits prior to funding. Some real-life examples of QC issues that I personally know of include:

• The loan file was missing two rental receipts, which caused the DTI to exceed the eligibility guidelines.

• A loan funded just shy of the cash out seasoning requirements; it was missed by five days.

• The borrower quit their job after the loan funded.

• The borrower retired after the loan funded.

These are critical defects that may lead to a request from the investor and require your mortgage company to repurchase the loan. Hopefully you are asking yourself how you can avoid the fate of a repurchase. While you may not have control over what the borrower does post-closing, you do have control over the quality of the loan file as it pertains to meeting the investor’s guidelines. Best practice is to set a QC standard for all high-risk loans. For example, self-employed income, rental income, loans with high DTI, or high LTV, limited credit profiles, or large cash out transactions, are all highrisk factors. While there remain some

failures are internal controls that need to be adjusted or external activities that need to be mitigated.

Fannie Mae recently updated their guidance on lender quality control efforts in the seller guide SEL-2023-2.

“In an effort to improve overall loan quality and reduce the number of loans requiring remediation by lenders, we have enhanced both our prefunding and post-closing quality control policies. Lenders must complete a minimum number of prefunding reviews monthly. The total number of loans to be reviewed must equal either: 10% of the prior month’s total number of closings or 750 loans.”

misconceptions that an effective QC plan is only to detect mortgage fraud, that is not the case. The real goal of QC is to ensure the mortgage loan file meets all the investor’s guidelines. Detecting mortgage fraud is a great bonus.

Another essential component of QC is training, make sure that the mortgage loan originators, loan processor and underwriters are notified of any updates to guidelines, or eligibility requirements. Discuss the best ways to calculate complicated income sources. Create a culture within your organization that allows for collaboration, and the ability to ask for help when working on complicated loan files. Implement technology-based hard stops within your loan origination software programs that will detect potential investor guideline failures.

QC changes with the economy, the housing market, and the borrower. Following the trends will help your company to determine whether the QC

The seller guide also indicated that Fannie Mae will decrease the timeframe for the post-closing quality control efforts from 120 days to 90 days of funding the loan. This will also shorten the timeframe in which a loan with serious defects may be sent back to the lender for repurchase.

Even if you are not a direct seller to Fannie Mae or Freddie Mac you will be impacted by these changes because QC starts at the source of the loan application. Regardless of the size of your mortgage company, your QC policy and procedures should reflect the best effort to control the quality of all your loan files. Protect your company against future buy backs that can potentially put you out of business with a robust QC plan that will ensure that all loans see the same level of scrutiny. n

Tyna-Minet Anderson is an attorney and co-owner of Mortgage Educators and Compliance.

Hopefully you are asking yourself how you can avoid the fate of a repurchase.

* Fannie Mae Quality Insider February 2023

The Power Of Empathetic Marketing

TAPPING INTO THE HUMAN CONNECTION WILL HELP EXPAND YOUR AUDIENCE

By MARY MARGARET HOGAN , Special To Mortgage Women Magazine

“Put yourself in their shoes.” While the phrase may be cliché, understanding and empathizing with your audience is a necessary step to identifying and retaining your customer base as a marketer. Far more valuable than other marketing hacks, tapping into human connection is one of the most underrated tricks to expanding your audience and significantly improving your consumer relationships.

Empathetic marketing is an approach that seeks to capture the unique

behaviors, the ever-amorphous audience can now be seen as individuals with their own emotions, backgrounds, and stories. With empathetic marketing, marketers look beyond the numbers and metrics and instead, step into the world of customer perspective, making sure every audience experience is represented and accounted for.

ACTIVE LISTENING

So, where does one begin? How can a marketer behind their computer and phone emit empathy through marketing materials, outreach, and strategy? Hint: It involves the very crucial, but sometimes difficult, skill of active listening.

To gain insight on individual customer profiles, it is imperative to collect data on consumer identities, emotions, and needs. Unfortunately, this type of information won’t naturally find its way into your CRM without some active listening efforts.

identities of customers to create relevant and responsive content that puts their needs at the center. In our field, discussions of increasing databases and contacts are so frequent that there is the default to group thousands of names and figures into one giant entity.

When we generalize an audience, the individualistic desires of each customer can be lost and result in a decrease in engagement, business, and trust. Yet when collecting data about a base’s demographics, values, lifestyles, and

Internally, gathering knowledge of customer interactions from those who work closest to them is a great first step. Whether through a companywide survey or a routine check-in with the sales and business development teams, your team members should be encouraged to share the patterns of desires and expectations they are seeing in their customers. Tracking of customer interactions should extend beyond the standard intake of post-sale feedback and instead focus on collecting statistics of the customers themselves.

Are their customers confident in this economic climate?

Did their confidence affect their purchasing experience?

Do their customers have a family behind them to support?

Are they the sole wage earner in their household?

Are they yearning for a major shift in their day-to-day life?

Mary Margaret Hogan

How does your service fit into their lifestyle or how do they need it to fit in?

These questions can certainly vary but should derive from a genuine, noninvasive place of getting to know your customers to better their experience. By implementing this standing checkin, team members will be reminded to actively listen beyond the details of the deal and furthermore, supply both marketing and sales with tangible ways to improve the customer experience with empathetic responses.

Externally, there are quite a few ways to break down your audience into individual customer profiles. To begin, it is beneficial to take note of their buying environments. Of course, this can be gathered from existing data in a CRM platform and/or economy-driven data, but how can we expand upon geography and market climate?

Once again, surveys act as a great gateway to insight that would not normally be documented otherwise, but this time they should be taken directly by the customer. These surveys could be crafted to capture a range of data such as consumer confidence levels, customer demographic data, and/or experiential scores after a networking event. In all cases, audiences are granted the rare space to provide their personal insight while your team gathers invaluable consumer profile data.

Monitoring social media is also a prime way to elicit intel on audience identity, emotion, and confidence.

of Instagram and Facebook “stories.” Here, these platforms provide the simplest version of intake forms that can get you quick, easy, and non-invasive customer feedback. Just a “poll sticker” away, this 24-hour feature collects customer data from one-answer polls on your story and with immediate shared results, your audience can be informed too. Collecting this data doesn’t have to be elaborately difficult!

RESONATE WITH AUDIENCES

Active listening on social media comes in the form of taking note of comments and reactions to your posts as well as their responses to other competitors. The convenience of social media acts as the perfect playground for unfiltered customer feedback so it’s important to pay close attention and tailor marketing tactics as needed.

Do not underestimate the power

While there are quite a few methods to acquire customer profile data, it’s ultimately up to each marketing team to decide which captures the most informative and authentic customer responses. By actively listening to customers, companies will be able to craft an empathy-based and customercentric marketing strategy that resonates with audiences in no time. Empathetic marketing campaigns should not only be a direct reflection of the newfound customer data, but should retain messages of inclusion, consideration, and transparency. If there’s a trend of customers feeling nervous in this volatile market, marketers can employ empathetic marketing to provide comfort. This might include an email blast that highlights the more positive existing market trends or perhaps includes a webinar invite for a free educational session that offers reassurance and negates fear.

There’s no place for false promises or outlooks in empathetic marketing. All experiences and deliverables should address customer needs without sacrificing authenticity,

In addition to maintaining transparency, empathetic marketing also requires upholding inclusive narratives across all marketing initiatives. When a company’s marketing neglects diversity of race, gender, culture, and more, they are ostracizing entire populations deserving of representation. From designing imagery that includes people of various ethnicities to adding closed captions across all video marketing campaigns, there are endless ways to transform your marketing materials into spaces of inclusion and accessibility. However, remember, employing diverse campaigns must extend beyond mere tokenization. These efforts should derive from a place of establishing a genuine human connection and ensuring that all customers feel valued. With all the previous active listening endeavors, it’s essential to return with affirming messages that say: “We see you. We heard you. And now here’s what we’re going to do for you.”

Applying a lens of empathy throughout your marketing strategy can make a major impact on your business. When seeing empathetic campaigns, clients will feel represented and cared for and in return will reciprocate with loyalty. Being able to identify your individual customers at a granular level ultimately increases your knowledge of your audience base and therefore maximizes your reach and retention.

By demonstrating a clear knowledge of your customers’ needs, your empathetic marketing efforts will show that your company values customers more than just faceless numbers; they are at the integral to your company’s story. n

Mary Margaret Hogan is an event marketing specialist at RCN Capital.

Applying a lens of empathy throughout your marketing strategy can make a major impact on your business.

When we generalize an audience, the individualistic desires of each customer can be lost and result in a decrease in engagement, business, and trust.

The Road To Becoming Licensed

A STEP-BY-STEP GUIDE TO OBTAINING A STATE MORTGAGE LICENSE

By VANESSA BODNAR, Special To Mortgage Women Magazine

Despite a turbulent mortgage market, it is my opinion that now is the time to get licensed. Often the process of becoming licensed seems elusive and you have no idea where to start. I will give you a roadmap to help you get licensed and as quickly as possible.

For those of us who have worked in the mortgage industry for a while we have proven that the industry always bounces back and when it does it’s good to be prepared to participate in this exciting space. In addition, you may be a loan officer assistant or a processor, becoming licensed can give you a leg up in your career as you’re able to help your loan officers in a way that you won’t have to worry about unlicensed activity.

BEFORE YOU START

Being that you are interested in working in the financial industry or desiring to become a loan officer, it is important that you look at your credit and background. You will want to pull a credit report, preferably from TransUnion (that is the

credit bureau of choice for NMLS). If you have any credit infractions, you will probably want to start clearing them up. Also, if you’ve had a bankruptcy or foreclosure within the past 10 years, get your documents in order as you will have to provide them to NMLS. If you have committed a felony, please refer to the state you’re applying for and their regulations. If you have something on your criminal record, be sure to have all your court documents and so forth prior to applying for a license.

EDUCATION

Prior to getting initially licensed, you need to complete 20 hours of education. You can look in the resource center of NMLS to see who has been approved to provide education. In your 20-hour class you will learn Federal laws, ethics, and lending principles. You will also learn about major regulations such as the Real Estate Settlement Act, the Truth in Lending Act, the Equal Credit Opportunity Act, and the Secure and Fair Enforcement for Mortgage Licensing Act. Thankfully most providers have several options for completing your 20

Vanessa Bodnar

hours such as webinars and one-week and two-week online courses. It is very important to not only get through the 20 hours but comprehend what you are learning. It will not only serve you well on the exam but also in your career to remain as compliant as possible.

In addition, you will need to complete any state-specific education hours. For instance, in Texas you are required to take 3 hours of Texas law in addition to the 20 hours. Not all states require additional education, you can refer to the NMLS resource center or state regulations to find out if your state requires more education.

EXAM PREPARATION

In 2018 there was a shift from a national exam and state tests to one uniform state exam called the Uniform State Test (UST). This streamlined the process of getting licensed to allow for just one exam. However, the UST is designed to only allow the best to pass. To that end, you will want to enroll in a test prep course. It is important to find one that is comprehensive and gives you several ways to study such as flash cards, pre-tests and post-tests, and subject focused study. It has been my rule of thumb that when you are making an 80-90% consistently on the practice tests you are likely ready to take your exam. Many education providers will give you an exam prep course with your 20 hours, just make sure it’s one that allows you to learn in different ways.

THE NATIONAL UST EXAM

As mentioned previously, you will be required to take the Uniform State Test (UST). The exam consists of 120 multiple choice questions. The questions are spread out among 5 content areas. This is demonstrated by the table below:

that, you are probably worried about failing. If you have no previous mortgage experience, you may not pass the first time. If you don’t pass, don’t give up, in 30 days you will be able to re-test. Because you will have prior knowledge of how the exam works and what it looks like, it’s likely you will pass the second time. The test retake cycle is below:

Initial Fail 30 days

2nd Fail 30 days

3rd Fail 180 days

Initial (New retake cycle starts) Fail 30 days

2nd Fail 30 days

3rd Fail 180 days

Initial (New retake cycle repeats the previous cycles)

APPLYING FOR YOUR LICENSE

You’ve finished your education and passed your exam, now it’s time to file your license. Each state, in the NMLS Resource Center, has a checklist. It is very important to review the checklist for the state you’re applying, as they each have requirements that may differ from each other.

Once you’ve applied for your license you will need your company to sponsor your license. Most licenses will become inactive if not sponsored and some rare states won’t approve your license without a sponsor. I would check with your company prior to paying for your license to be sure they will sponsor your license after you apply.

The hardest part of this step is to be patient. Each state has different turn times depending on how long it will take to get an approval. It’s fine to follow up with a state after you have applied but I would wait a couple of weeks so as not to overwhelm your state regulator. You can also ask your Licensing/Compliance department to follow up as many of these employees have developed good working relationships with the regulators.

TEMPORARY AUTHORITY

You pay for the exam through NMLS and then you schedule it through Prometric. Prometric now offers two options for completing your exam. You can either take your exam at a testing center or online. Thanks to the Pandemic, Prometric developed an online proctored exam. It is important to note that, with no exceptions, tests must be rescheduled 48 hours prior to the exam. If you try and reschedule or cancel within 48 hours of the exam you will lose the money you paid for it and it’s non-refundable.

To pass the exam, you must score 75% and because of

Congress, on March 15, 2018, passed the Economic Growth, Regulatory Relief and Consumer Protection Act. This Act was a new provision under the SAFE Act of 2008. The provision is known as Temporary Authority to Operate. This allows Loan Officers, who have worked for a bank and have been federally registered for more than 365 days, to go to a non-depository institution (such as mortgage company) and retain the ability to originate while seeking licensure.

If you want to seek Temporary Authority, you apply for your license prior to taking your education and exam, and if

the state agrees, you can continue to originate while you finish the steps to getting licensed. This relieves the burden of moving from a bank to a mortgage company.

Temporary Authority also applies to Loan Officers seeking licenses in another state. However, this does not apply to those who have not been previously licensed and have not worked for a bank for more than a year.

APPROVED!

You have received notification from NMLS that your state has approved your license, now what do you do? Your next step will be to notify your Licensing or Compliance department that you are licensed.

If your state issues a paper license or emails you a license, you will display it where consumers can see it and it’s readily available to any visiting regulators. When you created a profile in NMLS you were issued a Unique Identifier number.

This number will need to be listed on all marketing materials where you are listed, on your business cards and in your email signature. In addition, some states require you to list that you are licensed in their state. You can find out if this is the case for you by referring to the state regulations and/or your Licensing/Compliance department.

Finally, each year you will have to renew your license in NMLS, even if you were just licensed. Sometimes if you were licensed after November 1st you won’t have to renew until the following year. If you renew the same year you took your 20-hours, you won’t be required to take Continuing Education (CE). But if you waited until the following year to get licensed you will be required to take CE.

Getting licensed can sometimes seem hard and confusing, but if you follow this roadmap and your state’s license checklist, you will be licensed in no time! n

Vanessa Bodnar is founder of The

Licensing Hub.

Getting licensed can sometimes seem hard and confusing, but if you follow this roadmap and your state’s license checklist, you will be licensed in no time!

ASK THE EXPERTS

In the mortgage industry, staying ahead of the curve is crucial to success—which can be a problem when the industry itself is filled with new daily twists and turns. Thankfully, the increasing use of automated technologies can help mortgage organizations stay ahead of these curves, both from a technology and market standpoint.

And yet, it reminds me of a famous Bill Gates quote about the limitations of automation. “The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.”

LEARNING

Indeed, not all automation has been helpful, especially when it comes to the intricacies involved with managing documents and data. However, machine learning technology is proving to be the difference maker. Properly applied, machine learning tools can improve and transform automated processes to create greater efficiency throughout the mortgage lifecycle.

As a product information analyst who trains machine learning tools to produce better results, I’ve had the good fortune to experience this transformation up close. And the results are pretty stunning.

ERADICATING DOCUMENT AND DATA DILEMMAS

One of the costliest tasks most mortgage organizations perform is accurately classifying loan documents and extracting data from them. While automation helps, alone it can only do so much. The reason is many documents display information differently, which makes it difficult for

HOW MACHINE

IS SUPERCHARGING THE INDUSTRY

WHILE AUTOMATION HELPS, ALONE IT CAN ONLY DO SO MUCH

WITH Stacy Wilson

automated technologies to classify and index these documents correctly.

Using machine learning technology—aided by human experts— document and data automation tools can “learn” to recognize certain patterns to classify documents and more accurately extract data. This includes the ability to recognize key fields in structured and unstructured documents, such as names, addresses, dates, and other relevant information, regardless of where they are displayed.

Machine learning algorithms are also being used on large volumes of documents to identify patterns, so similar documents can be classified automatically. Once classified, data extraction tools can be used to extract relevant information from these documents at several times the speed of manual, “stare-and-compare” processes. In fact, machine learning algorithms are being trained across such a breadth of document types that contain so much more data than ever before, enabling lenders to process large volumes of loan files quickly and accurately.

FASTER, SAFER LOAN PRODUCTION

When properly applied, the benefits of machine learning technology are tremendous. For example, accurate document classification and loan data verification are critically important when it comes to regulatory compliance. With the help of machine learning technology, critical loan documents can be indexed more accurately so that data can be captured and rules applied to verify missing documents and identify data consistencies, which reduces the risks of fines and penalties.

To get the most out of machine learning, however, the machine must be constantly trained, which requires an

analysis of the results so the algorithms can be continually fine-tuned and improved. This is a big part of my role at LoanLogics. My counterparts and I regularly analyze the accuracy of our document classification technologies and make adjustments to improve the results. By doing so, we’re improving the accuracy of our machine learning algorithms over time, which leads to greater accuracy and confidence in the results.

This training process has proven to be highly effective in improving indexing for documents like paystubs and W-2s, which contain a lot of important information, but often have different formats and layouts. The same applies to the many different disclosure documents found in loan files. While it’s relatively easy for automated technologies to classify and read standardized disclosures like the loan estimate and closing disclosure, there are many other types of state and local disclosures that vary a great deal in terms of format, layout, and how information is presented.

In my job, there are certain techniques and training principles that help our machine learning tools learn how to classify these documents. Based on good quality samples, for example, we can review documents in batches and have both machine learning and human operators perform the indexing. At first pass, we can evaluate machine learning confidence scores and where machine learning actually failed. Then, by feeding the results of this human analysis back into the machine, the machine can be trained to produce better results.

ENHANCING SECONDARY MARKET ACTIVITIES

While AI and machine learning have made a growing impact on loan production in recent years, they are just now beginning to revolutionize

secondary market processes. For example, because of the prevalence of manually driven tasks, the process of selling and onboarding loans is often tedious and inconsistent, making loan trading and onboarding a cumbersome endeavor. The historic lack of loan file data transparency in our industry hasn’t made things easy.

Recently, however, machine learning tools are being applied to secondary market processes that enable smoother trades and loan onboarding. For example, if an originator or investor needs to check 30 critical document types with corresponding critical data elements when selling or buying a pool of loans, they can rely on machine learning to classify documents correctly and then let data extraction and rules-driven data validation tools do the heavy lifting.

With a high degree of confidence, trained machine learning tools can pass or fail these critical documents, ensuring that only accurate classification moves to data extraction and validation steps. Ultimately, this allows loan sellers and buyers to accelerate loan file review times and only focus their attention on managing document and data exceptions. With better data, servicers and investors can gain greater insights into their portfolios and make more informed trading decisions, especially when minimizing inherent data accuracy risks.

REMEMBER THE TWO RULES

There are a couple of “twists” involved with machine learning tools that make all the difference in their effectiveness. The first twist is that machine learning will produce limited results without a sizable database of documents to train from, including unstructured documents.

To get the most out of machine learning, the machine must be constantly trained.

When machine learning tools are built on a large enough library, they can help companies achieve triple-digit increases in productivity. So, getting back to Gates’ rule #1 — Before investing in machine learning technologies, understand how the machine is being trained and the depth of sample size being used.

The other twist? Too often, automated technologies create just as many inefficiencies as efficiencies if a lack of confidence persists in the manual processes you are trying to eliminate. There is a science behind machine learning that predictably measures confidence. So, regarding rule #2, it’s important to understand the maintenance and tuning efforts your machine learning vendor is conducting to give your teams more confidence in the technology.

Remember, it takes the proper machine learning tools — and often, the right partner — to truly excel.

As we continue to see more use of machine learning, I recently had the opportunity to ask two mortgage technology experts how it is being used to leverage more data and improve operations. Here’s what they have to say.

LYNNE MCLAIN Account Manager LoanLogics

While there are still some mortgage organizations relying on clunky spreadsheets and manual processes, a growing number are embracing automation driven by new machine learning technologies to gain a competitive advantage in the marketplace. At LoanLogics, we’ve seen first-hand how machine learning tools are helping retail, wholesale and correspondent lenders, mortgage servicers, and investors improve productivity and profitability.

One area that is particularly ripe for data and document improvements is whole loan and MSR mortgage loan commerce. Many sellers are selling to many buyers, and there is no consistency on either side of that coin. Document naming, stacking order and data field naming are as varied as the organizations in the market and the loan origination and servicing systems they use. This lack of standardization creates the “heavy lifting” work that persists in the secondary market that continues to slow down transactions and increase costs.

These reasons are why machine learning holds so much promise for the secondary market. By being able to classify documents and extract data more accurately and consistently, regardless of a buyer or seller’s taxonomy, machine learning-driven automation can overcome these hurdles and help create more efficient mortgage commerce. These tools can also accommodate any subset of documents and data that might be appropriate for a given use case, allowing organizations to process once, map once, and use broadly.

Ultimately, the value of machine learning will increase for all of these participants as the breadth of document types classified and data fields extracted grows. I know our clients are just as excited about that happening as we are.

JANET MARTIN Vice President, Digital Solutions Cornerstone Servicing

How are you using machine learning tools to leverage more data to improve operations at your company or for your clients?

Cornerstone Servicing has a series of machines that supply information to improve our overall customer experience and address potential risks.

For example, AI is taking the guesswork out of why customers communicate with us here at Cornerstone. It gives us the ability to identify trends in our customer interactions, which in turn allows us to nimbly design an intuitive digital experience that meets their needs and communication preferences. Our technology analyzes every page a customer views; every conversation with our AI-driven virtual assistant and natural language IVR, and our customer care team members; and two-way email and secured message correspondence. This 360-degree view allows Cornerstone to continuously improve and personalize the experience we create for homeowners. Machine learning tools have also enhanced Cornerstone’s recently launched subservicing business. We are committed to providing our subservicing clients with full transparency into their portfolio and analytics, and we partner with them to apply learnings and take their customers’ experience to the next level. Our servicing platform also enables us to tailor the experience to a clients’ unique branding and messaging, offering consistency and helping to deepen their customer relationships for the long-term. We are also beginning to leverage AI for proactive borrower retention campaigns, which we believe will be a real game-changer. You will see Toby Wells, president of Cornerstone Servicing, mention technology in everything he says because our integrated servicing platform and these machine learning tools are core to our overall strategy. Technology is a big part of what differentiates us as a mortgage servicer. It is helping us get smarter and more efficient across our operations so we can continuously improve our customer experience. n

Stacy Wilson is a product information analyst for LoanLogics.

Lynne McLain

Janet Martin

Discover Where Your Competitors Stand In The Mortgage Market

Adapting to today’s dynamic mortgage market has changed the way we analyze trends and track competitors. Luckily, we have the tools you need to determine your competitors’ market share and see how individual loan originators are performing in their market.

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In The Housing Market, Men Are Losers

SINGLE WOMEN BOUGHT 1 IN 6 HOMES IN 2022

By SARAH WOLAK, Staff Writer, Mortgage Women Magazine

More single women swipe right on homeownership than single men. Owners of 1 in 8 homes in the U.S., it’s a group that can’t be ignored. Woman may earn 83 cents to every dollar a man makes, but they’re dominating the housing market and doing it on their own.

A LendingTree study using data from the U.S. Census Bureau found that single women are more likely than single men to own a home in 48 of 50 states.

In 2022, single women made up 17%

of recent buyers, compared to 9% of men. For the past decade, these numbers have been fairly stable; single women have maintained between 15% and 19% of the buyer pool, and single men have maintained between 7% and 9%.

Jacob Channel, senior economist at LendingTree, said that this trend will most likely continue since there haven’t been any major demographic shifts, such as women’s graduation rates plummeting or men suddenly living longer than women.

It’s not a small gap, either.

LendingTree says single women own about 10.76 million homes, while single men own about 8.12 million. Put another way, single women own an average of 12.9% of the owner-occupied homes in the U.S.

BEATING THE ODDS

Prior to 1974, it was not legal for women to secure a mortgage without a male cosigner. Once that barrier was broken, women have outpaced single males as homebuyers since the National

Association of Realtors (NAR) started tracking this data in 1981.

“We’ve seen this need for independence throughout the ‘80s generation into today,” said Jessica Lautz, NAR’s deputy chief economist and vice president of research. “Single women have really made it their mission to not be at the mercy of a landlord. They want their own spaces, and homeownership seems more important to their demographic.”

Lautz remarked also that single women are continuing to “surpass

odds” in the housing market, still managing to hold onto their purchase power even though housing affordability hit a three-decade low in August last year. Lautz says that there is a laundry list of factors as to why single women are dominating: they live longer than men, marriage rates are declining, women are more likely to move closer to family and friends, they express a desire for stable homes to raise a family in potentially, and they make more sacrifices when it comes to their house wish lists.

“Historically, women tend to be caregivers, and they see a home as a place to either be a caregiver or as proximity to family,” Lautz said. “Their willingness to make sacrifices when it comes to their wants for a home speaks about the importance of homeownership to them.”

Lautz said that single women are also consistent in their buying behaviors and continue outperforming against the odds. “Their mortgage behaviors are almost the same as single men. 72% of single women financed compared to 73% of men,” Lautz said. “Even though they’re older in age as first-time buyers, single women of all ages are buying alone.”

MARKETING TO SINGLE WOMEN

Marketing to single ladies doesn’t have to be a completely different formula. Lautz says that LOs should approach women with the promise of ease and accessibility. “They need to take into account that women make less income, but they’re willing to make financial sacrifices to get a home, such as getting a second job or not taking a vacation,” she said. “What they want is to hear that an originator is willing to work with them.”

Channel, from Lending Tree, said that LOs also need to take into account the

struggles that some women face during the homebuying process. “Women may have to stretch their budgets more in order to afford a home, and they may also face other, harder-to-quantify challenges, like dealing with sexist sellers,” he said. “Some lenders might not necessarily realize how much of a market there is for single women homebuyers, and, as a result, they might feel less inclined to seek out single women clients or cater their offerings to be more appealing to single women.”

To avoid issues such as sexism or hopelessness in the home buying process, Channel recommends antibias training to lenders. “People may not realize they have a bias until it’s actively pointed out to them and they’re given tools to help avoid it,” he said. “It’s also important for lenders to be sure that they’re properly highlighting different loan options that might be appealing to single buyers, like FHA loans, for example.”

Scott Cange, Delmar Mortgage’s chief marketing officer, says that while it’s tough to target mortgages specifically toward single women, an LO can use a different approach. “Something that we have seen via our Google analytics is that around 70% of people clicking on our website are women,” he said. “So that data allows us to really gauge our audience.”

Cange also said that everyone carries data, such as their gender, location, preferences, and interests. This can be used – especially by marketers – to reach their target audiences. “The biggest thing an LO can do is make sure they personalize their message towards their demographic, based on the data that they carry,” he said. “Everybody’s on a different journey. You [as an LO] have to be broad when it comes to public outreach, but your personal touch and attention will impact your clients.” n

“Women make less income, but they’re willing to make financial sacrifices to get a home.”

> Jennifer Lautz, deputy chief economist and vice president of research, National Association of Realtors

Hackathon Magic

UNMASKING MINORITY FINANCIAL LITERACY

By MICHELE BODDA , Special To Mortgage Women Magazine

Our research shows more than a quarter of Black and Hispanic consumers are credit invisible and lack access to fair and affordable credit. Closing this gap will require unique approaches to getting our country’s youngest consumers and diverse communities actively engaged in financial literacy and taking steps to build their credit histories. This can help ensure these consumers can one day purchase homes and increase intergenerational wealth.

Meaningful change in driving financial inclusion and ensuring an equitable path to homeownership for consumers in diverse communities requires all of us working together.

When this is done effectively, amazing things are possible. I’d like to share an example of this principle in action — which also serves as one of the highlights of my 20+ year career.

We recently hosted a hackathon in partnership with HomeFree-USA — an organization dedicated to giving people of color the guidance they need to achieve and sustain homeownership. Their organization serves the diverse interests of over 6 million consumers through its nationwide network of 50 community-based nonprofits that specialize in guiding people to first-timehomeownership, sustainability and increased financial capacity.

The hackathon was the grand finale of a six-month Center for Financial Advancement Credit Academy. Through live sessions with Experian credit education experts and selfpaced content, more than 250 students from 14 Historically Black Colleges and Universities (HBCUs) learned about credit, financial tools, and how to build generational wealth

through steps like homeownership.

Four teams from Alabama State University, Fisk University, Morgan State University, and Shaw University made it to the finals and presented their ideas for the next best credit education program for their peers at our North America headquarters in Costa Mesa, CA at the inaugural #IYKYK Hackathon.

The “Credit Stingers” from Alabama State University took home a $40,000 scholarship for their gamified app concept called “Credit Rush.” To overcome obstacles within the app, students must watch a video or take a quiz about credit to advance to higher levels. Other “Credit Rush” features include the “Hive,” a library of credit education materials, chat, daily calendar functions, and more.

This was an incredibly special day, but the lasting impact is what’s most exciting. These students are already putting what they learned into practice within their communities. They’re renting their own apartments for the first time, helping their recently immigrated family members establish their credit identities, and taking other meaningful strides toward one day purchasing their own homes.

I believe partnerships such as this are critical in driving financial inclusion. Directly engaging consumers with credit education and resources empowers them on their paths to building generational wealth.

As we look towards creating a more equitable path to homeownership, we need more of this. Much, much more of this. n

Michele Bodda is president of Experian Housing, Verification Solutions and Employer Services.

Michele Bodda

The “Credit Stingers” from Alabama State University took home the prize, a $40,000 scholarship for their idea of a gamified app called “Credit Rush” during the #IYKYK Hackathon at the Experian North America headquarters in Costa Mesa, CA on April 7, 2023.

Samantha, Practice CoordinatorMedical Administrative Assistant, STAR

It’s time to let your skills shine. Find resources for breaking through barriers like degree screens and stereotypes. It’s time to tear the paper ceiling limiting STARs: workers Skilled Through Alternative Routes rather than a bachelor’s degree.

I am more than who I am on paper.

ROCKET Eileen Tu:

KATIE JENSEN, Staff Writer, Mortgage Women Magazine

lightly more than 30 years ago, Eileen Tu diverged from her path to law school to get married. Casting about for a career, she fell into personal banking, where she developed a passion for helping people get into homes.

Two years later, Tu began working for what was then known as Rock Financial but would eventually become Rocket Mortgage. The company was merely another local lender with the goal of expanding its footprint beyond the Detroit area.

Then this little thing called the World Wide Web came along. She went from local lender to internet pioneer.

Now Tu is vice president, product development and credit policy at Detroit-based Rocket Mortgage. Tu had no idea what she was in for when she interviewed 30 years ago with Rock Financial, a midsized but growing lender. Unlike her previous job with Sterling Bank, the Rock team needed creative minds, new ideas, and fresh eyes to help the company grow.

QUIRKY IDEA

One quirky, new idea that Rock Financial is famously known for creating is

INNOVATOR

THIS INTERNET PIONEER HELPED CHANGE MORTGAGES FOREVER

mortgage-in-a-box.

“That was probably the first thing that we thought of was like, how do you create this really cool, engaging way for borrowers to be able to say, ‘it’s not that hard to get a mortgage’?” Tu said. “We’re gonna send you something that you can easily understand and we’ll walk you through it. And you can live anywhere. They can just mail it in and we’ll figure it out. So we just saw all those pieces come together, and it was really cool to see that over time to where we all are today.”

Co-founder Dan Gilbert was front and center when Tu started at Rock Financial, and his vision was to become a 50-state lender. At the time, Tu said, she believed this was possible, but was

going to be hard to accomplish.

Of course, there was plenty of trial and error before Rock Financial grew beyond Michigan. One idea was to set up brickand-mortar shops around the country. Tu began at the Rochester, N.Y., branch, but that strategy didn’t work out.

“I wouldn’t say that’s a failed thing, but it was a wake-up call,” said Tu, who is now based in Detroit. “Imagine building brick and mortar in all 50 states and trying to figure that out and trying to really gain coverage at scale. It just didn’t seem to make sense. We did try to dabble on that. We had a few branches here, but that’s how I realized we gotta do something different.”

Then, something spectacular happened that transformed Rock Financial. In 1994, the Internet began

gaining in popularity, outside of academic settings. From December 1995 to December 1999, the number of Internet users grew from 16 million users to 248 million, according to internetstats.com. In the ‘90s the first webpage was created, and Amazon and Google were launched. The dot-com boom was born.

Gilbert first saw the potential of the Internet to transform the mortgage industry in 1998, when Amazon was still selling books, Google was a year old, and Sony CD Walkmans were the new craze. That year, he told the company it would “change the mortgage world forever,” and the seeds of Rocket Mortgage were planted. But Tu admits she didn’t get it at first.

“I didn’t fully understand what Dan

was talking about,” Tu said. “If I want to get a mortgage, don’t you have to go to a bank and sit in front of the loan officer and hand over some paper? Isn’t that how you build trust?”

PATH TO GROWTH

The Internet was going to be the path Rock Financial took to scale the company. Tu eventually learned this would be a much more feasible plan than setting up brick-andmortar shops.

A year later, the branch-based lender took its first step online, launching RockLoans.com, and quickly positioned itself as one of the fastest growing retail mortgage lenders on the Internet.

Tu didn’t care what role she needed to fill, as long as she could continue working for the company.

“My goal was always like, I love this place. I love working in a place that continues to grow. That really changes kind of like the landscape of how mortgages are done. You wanna be a part of that, right? So to me, everything was a bit of an opportunity, right? I like the idea of things. People say this all the time, but a career is like a jungle gym.”

With experience as an underwriter, loan officer, personal banker, branch manager, and team leader, Tu has plenty of skills under her umbrella. Her specialty, however, is her background in credit. This eventually led her to become the credit policy director.

This is a crucial role, as it establishes guidelines and procedures to determine which clients are eligible for credit. And it was an important step in attaining her next few roles in the company.

While Tu was scaling up in her career, adapting to different roles, the company changed as well. Since Rock Financial was rooted in technology, it gained the attention of Inuit, creators of TurboTax and Quickbooks. In 1999, Inuit bought Rock Financial and renamed it Quicken Loans. In 2002, Quicken was placed on Fortune’s prestigious “100 Best Companies To Work For” list, and remained in the top one-third of the list for 18 consecutive years.

“I saw it as an exciting step for Rock Financial, and an evolution of the company, to grow beyond our footprint at that time,” Tu said. “It also gave us national brand recognition.”

In order to stay successful, we need to innovate and create what’s needed for our clients at that moment.

Eileen Tu Quicken Loans 2000

One product that Tu said was a “true game-changer” for Rocket Mortgage was the Home Affordable Refinance Program (HARP), which was introduced after the Great Recession. This program allowed homeowners to refinance to the current low mortgage rates, even if they were underwater because of the falling home values at the time.

“HARP was able to keep people in their homes during a difficult time and, because of our innovative process, we helped more homeowners than many other lenders,” Tu said.

The product that Tu is most proud of creating, with help from Gilbert, is Inflation Buster, which was a smashing success, according to Rocket’s 2022 fourth-quarter earnings call.

RENEWED STRENGTH

While Quicken existed as a subsidiary of Inuit, it grew more than 360% to become the nation’s largest online lender. But, Gilbert couldn’t let his company go that easily. In 2003, he and a group of local investors bought back Quicken Loans.

“This transaction allows us to be independent and entrepreneurial, while keeping in place the many benefits of being associated with the Quicken brand, as well as access to millions of Quicken, TurboTax and QuickBooks customers,” said then-Quicken Loans CEO Bill Emerson.

“When Dan bought the company back, it didn’t faze me at all,” Tu said. “Dan was very close to the business, whether we were a part of Intuit or not, so that change didn’t impact our dayto-day work. We still had our vision and we continued to build toward it.”

Quicken Loans launched its own website in 2004 that gave consumers more tools and greater functionality to explore their home loan options, calculate payments, and apply for mortgages online. Then after the 2008 financial crisis, which shook up the industry and forced many mortgage giants and competitors to fall to the wayside, Quicken emerged with renewed strength.

In 2010, Quicken Loans Mortgage Services rebranded as Rocket Pro TPO, which was created to serve the needs of mortgage brokers, community banks, and

credit unions. Equipped with some of the best technology in the industry, Rocket Pro TPO provided its broker partners an abundance of value that would make their loan process easier, faster, and more marketable to their communities.

In recent years, progress has accelerated, and Tu now contributes to Rocket’s success as head of product development. Essentially, Tu adds features onto existing loan products such as conventional or FHA, interest rate buydowns, and Inflation Buster. It’s her and her team’s job to sweeten the deal for brokers and borrowers, luring them to work with Rocket.

In the current economic and housing environment, these products matter greatly. In-state rival United Wholesale Mortgage’s offerings, such as its 1% down loans, are partially why it gained a significant share of the market and knocked competitors such as Homepoint out of the wholesale business.

Rocket has a laundry list of offerings as well, including Buy+, Rocket Visa Signature Card, Rate Drop Advantage, Inflation Buster, Rateshield, and more.

Tu insists that she does not want all the credit for making these products, and says she could not build out or manage these mortgage products without the help of her team.

She was especially proud when her team came up with YOURgage, which provides borrowers the flexibility to choose their own loan term from 8 to 30 years. This was first launched in 2011 and is still available for Rocket borrowers today.

“Inflation Buster, our promotional purchase product running through the fall and winter, resonated strongly with our clients and demand for the product exceeded expectations,” Rocket CFO Brian Brown said.

“It went gangbusters when we went live with that product,” Tu said. “These are credits you can apply to more easily afford a home.”

In today’s environment, with many homebuyers struggling to get an affordable mortgage, Tu is especially focused on providing special purpose credit programs [SPCPs] in communities that are especially underserved. These products are made for borrowers who can afford homes but don’t have good or great credit, likely because they don’t understand exactly how to manage credit, Tu explained.

“In order to stay successful, we need to innovate and create what’s needed for our clients at that moment,” Tu said. “A lot of people think about technology when you say ‘innovation,’ but it also includes new mortgage programs, and better ways to do things. I’m proud that, every day, my team is focused on helping more people achieve the dreams of home ownership and financial freedom. Sometimes that is just Rocket Mortgage’s loan products and sometimes that includes collaboration with our sister companies like with BUY+.”

“I’ll take on a challenge wherever I’m at,” Tu added. “But when it comes to enjoying your work and really making a difference, I think you can do that more in a company like Rocket Mortgage.” n

Trailblazing Tech The Track&

OFF-ROAD RACING HAS ALWAYS BEEN MORE THAN A HOBBY FOR DOCUTECH’S EMILY SHAPIRO

By SARAH WOLAK, Staff Writer, Mortgage Women Magazine

Leave the driving to Emily Shapiro, both in the office at Docutech and off-road where she’s a champion racer.

The top dog at Docutech, Shapiro’s a champion as a woman in financial technology and in her second career as an off-road racer, but she never intended to dramatically change her life from being on the sidelines to being in the spotlight.

Shapiro is 23 years deep into off-road racing cars and trucks, which she says was a conscious transition from her origins of bike racing. “My father and I got into an

Emily and her husband, Greg attend the SNORE (Southeren Nevada Road Enthusiasts) awards where she finished third overall in the desert racing organization's championship and was named driver of the year.

“Whether I’m Emily the racecar driver or Emily the president, I have to constantly be out of my comfort zone.”

> Emily Shapiro, CEO, Docutech

accident 21 years ago when we were riding our bikes together, so I opted to move to something safer,” she explained. Today, Shapiro’s graduated to what the racing community calls “trophy trucks” and one or two-person 1600 racing, meaning single or double-seat smaller cars with 1600 horsepower.

Shapiro grew up with a need for speed. Shapiro’s parents, Will and Jackie – who have been together since they were 12 years old – off-road raced in the mid-60s and ‘70s and introduced the sport to their children. “My dad came from a family of four boys and one daughter, and he and his brothers raced in Baja on motorcycles in the late ‘60s,” Shapiro said. “I’m one of three sisters, and I was the one who became daddy’s girl and he got me my own dirt bike at four years old.”

Dovetailing almost perfectly with her racing career, Shapiro’s professional career is also family-influenced. Shapiro describes her older sister, Amy Brandt, as her best friend and “partner in crime” in all aspects of her life. She’s even been able to drag her non-racing sister out on the track to race alongside her.

Even though Brandt doesn’t race, their professional lives landed them in the mortgage industry. Brandt, who is three years older, originally went to law school. But she found an opportunity in the mortgage industry. After Shapiro graduated college, Brandt dragged her sister with her.

“She needed someone that she knew she could trust implicitly and rely on, and I was looking for an opportunity, too, so it naturally fell together,” Shapiro said. “We’ve always been stuck together after that.” Brandt asked her sister to work with her because she knew that Shapiro would pick things up quickly. “I thought to myself, if I can do this then Emily can do it better,” Brandt said.

Today, Shapiro is top dog at Docutech, a position formerly held by Brandt. Shapiro says that this point in her professional career is the first time she’s worked separately from her sister. In fact, Shapiro initially struggled with confidence while taking on her big sister’s former role.

“Any time you move into a role that was vacated by someone who was really strong in your role, I would be foolish to say that there wasn’t an identity crisis,” she said. “I had to balance and adopt the things that she did well with making the role authentically me.”

Both sisters say working apart from each other has been a culture shock, with Brandt deciding to leave Docutech and take on other

endeavors at companies like Serent Capital and IT services company, Quisitive. “It’s bittersweet because she deserves the role and frankly should have gotten it a while ago, but at the same time I miss working with her,” Brandt said. “Emily is super conscientious about knowing the business. She knows every employee and takes time to make people feel known and included, and she cares, which is something that you just can’t teach.”

Shapiro undoubtedly cares about her job, but her authentic self comes out most when she shifts to talking about her racing career. Her eyes light up as she goes into depth about the maintenance and hard work that goes into her vehicles, as well as the several accolades she’s received in racing, including being the first woman to be named by her peers as driver of the year back in 2015. Shapiro jokes that she feels like she lives a double life at times; work Emily is more reserved and analytical while racing Emily gets to be boisterous and scrappy. Her coworkers who have seen her race have picked up on Shapiro’s “alter ego” behind the wheel. But despite the fast nature of the sport and the excitement of racing, Shapiro says it’s a calming experience. “I find myself very busy-minded, I have a loud internal monologue which can be taxing on me. But racing for me helps me narrow down my world. It allows me to have one singular focus.

BEST OF BOTH WORLDS

As a woman in tech, Shapiro is faced daily with concerns about how to keep companies integrating tech into their businesses. She’s been president for about 15 months, taking the position in March 2022 right before the market soured.

Shapiro’s naturally competitive, though, which she says applies both at Docutech and in her racing. “During my first year, it was tough for me to navigate what being president of this tech company meant,” she explained. “Having to move

“My boss [would] even say to me ‘Do you need to go racing?’ as if he can tell when work is making me spun out … ”

> Emily Shapiro

Emily with mom, Jackie Staats, and sisters Amy Brandt and Malissa Stern at the finish of the SNORE desert race where she finished third.

from an operating role – from being the former chief operating officer – with regards to being more strategic in this new role, all the while in the gnarliest market we’ve seen. Like, my first budget cycle as president was having to create a budget in a significantly diminished market.”

But Shapiro manages to bridge the gap between her two worlds in subtle ways, which helps her navigate her professional life. For example, her desk chair in her office resembles a race car seat and has the logo of her sponsor, Impact Race Products, on the chair’s back.

“I work to afford my racing habit,” she jokes. “My boss will even say to me ‘Do you need to go racing?’ as if he can tell when work is making me spun out. Racing’s not just a huge part of my personal life, it’s even a big part of my professional life and what gives me sanity.”

Shapiro also says the lessons she’s learned from racing apply to her role at Docutech – and vice versa. “Racing has taught me to act on fear and be brave, and to be afraid and do something anyways. To be a successful leader in business, you have to do exactly that,” she said. “Whether I’m Emily the racecar driver or Emily the president, I have to constantly be out of my comfort zone.”

Of course, she’s certainly faced sexism in both worlds. “Racing was at one time a very maledominated sport,” Shapiro says. “Although now it doesn’t matter whether you’re a woman or not, I’ve had my fair share of experiences where men have said to me that it hurts more when they lose to a woman.”

Shapiro says that even in the 21st century, misogyny still exists. “Would you ask a man

whether he’s faced sexism in his sport or the workplace? Probably not,” she says. “But the fact is that we know that we still have to be asked [as women] because it’s still happening.”

In the business world, Shapiro’s seen how the boy’s club impacts her work even as a higher-up in the industry. “I’ve seen it in the conversations that are had about you, around you, or that change when you’re included, and it becomes clear that it’s because you’re a woman,” she said. “But I just power through and deal with it anyway. I operate how I feel is right regardless.”

PARTNERSHIP PRECEDES

Even though Shapiro considers her persona to be more reserved in the workplace, her colleagues say that her empowering and brave nature shines through. Cathy Turner, Docutech’s chief operations officer, has worked by Shapiro’s side for six years. “Emily is inclusive, empowering, and supportive, and it’s evident that she cares deeply about her employees from my first-hand experience,” Turner said. “We work on projects together and she has a leadership style of letting me and her other employees have the freedom of doing what we see fit for a project.”

Turner added that Shapiro makes it a point to engage with every team member, not just her C-Suite. “Emily does individual meetings with everyone and makes it her priority to really focus on feedback, client success, and everyone’s happiness,” she said. “We even have monthly ‘Coffee with Emily’ meetings where employees can submit questions about anything, whether they have questions about her racing or how the company is performing. She makes her employees feel important, but also her clients. She’s a huge advocate for being a client’s partner over just a vendor.” n

“She makes her employees feel important, but also her clients. She’s a huge advocate for being a client’s partner over just a vendor.”

> Cathy Turner, chief operations officer, Docutech

Emily Shapiro and her Docutech co-workers (from left) Robert Dempster, sales manager, Jamie Mottern, SVP of partnerships, and Peter Danahy, national sales director) attend The Mortgage Collabroative conference, March 2023..

Mortgage Moms

Stressing Out On Summer

How to make the most of kids' summer vacation without losing your mind

By ASHLEY GRAVANO, Contributor, Mortgage Women Magazine

Sweet summertime … or is it? HAHA!

Ashley Gravano

Most of us love summer. What’s there not to love, longer nights, days at the beach or the lake? BBQs with family and friends. Too many great things to list! Let’s be honest though, as a working parent in the mortgage industry or any industry that ebbs and flows it can be a bit stressful. Day camps, sleep overs, family vacations (oh boy). If you are like many of us parents, you are already trying to figure out how to make the most of the sweet 10-12 weeks of no school without messing up or losing your mind. You may not have the strict schedule of “7-3 p.m.” but you are picking up and managing so much more! If I am being

honest and I know I am speaking for many working moms, by mid-summer we cannot wait to get the back-to-school schedules in the mail.

Big questions come into play when you say to yourself, how am I going to get through summer and what are my biggest pain points.

What to cook for dinner? For me, it comes down to ... You mean I have to cook when it’s 103 degrees outside (save me now)? After talking to longtime friend Kate D. and Katie King they shared the same complaints. While Kate tends to not deviate from her normal day-to-day menu, they both agreed that more BBQs are the way to make dinner easier, different, and more fun. Taking advantage of farms and roadside stands

nearby, it’s a great way to shop local and maintain a healthier lifestyle.

For some other friends, like Laura Cassady … ”Crock Pots are magical”! With a ‘set it and forget it’ mindset, dinner time can be a lot less stressful as individuals in the household can eat as their schedule or hunger allows.

1INGREDIENTS

4–5 large skinlessboneless, chicken breasts

PEACH CAPRESE GRILLED CHICKEN (1 OF 2)

cup balsamic vinegar

2 tablespoons olive oil

1 teaspoon salt

1/2 teaspoon pepper

8 oz fresh mozzarella, cut into ½ inch slices 4–5 medium peaches, pitted and sliced

Do I keep the kids on a sleep schedule? 10 p.m. sounds reasonable right and no sleeping until noon (I just laughed out loud)? Collectively we all were in agreement that summertime for kids is less about a schedule and more about making memories and having fun, as long as they are rested, and not CRANKY! But, this all starts to come to an end in mid-August when we need to start preparing them for the school year and the realities of catching the bus at 7 a.m.

Do I have to keep them active physically and mentally all summer? Not easy getting kids to do schoolwork during the school year let alone the summer (or is this just my house)? My son would rather play video games most nights as opposed to cornhole in the backyard. Katie likes to focus her daughters attention on playing,

a boil on the stovetop. Then, reduce to a simmer for 10-15 minutes. Check the consistency by dipping a spoon in the mixture. If it coats the back of the spoon, the glaze is ready. As the reduction cools, the consistency will become more syrup-like. If you happen to reduce the vinegar too much and it becomes a bit too sticky, simply stir a bit of water into the mixture over low heat. Remove the glaze from heat.

PEACH CAPRESE GRILLED CHICKEN

Prepare and grill the chicken: **Cut each chicken breast in half horizontally. Place the halves, two at a time, between two pieces of parchment paper or plastic wrap. Using a meat mallet or rolling pin, pound the meat until thin. Repeat until all halves are pounded thin. Drizzle the olive oil over the chicken breasts. Rub the oil over the chicken to evenly coat. Sprinkle the chicken breasts with salt and pepper. Place the chicken breasts on the grill. Cook for about 5-8 minutes per side. Plate the dish: Place the grilled chicken on a platter. Top the chicken breasts with an even layer of mozzarella slices. Spread the peach slices over the mozzarella. Drizzle the balsamic reduction over the chicken, mozzarella, and peaches. Sprinkle chopped fresh basil over the entire dish.

Mortgage Moms

exploring and adventures. For her, there’s no working on vacation! While she continues to encourage reading and writing, she wants her 1st grader to enjoy every moment of summer.

Like so many of us, Kate and Laura utilize local camps and activities to keep their children busy. Many of these camps incorporate education into their daily events, like crossword puzzles, word-finds, etc. Even these small activities help stimulate their minds without even realizing they are re-enforcing what they learned during the school year. What are some fun activities that

Watermelon Feta Salad

INGREDIENTS

1/4 c. extra-virgin olive oil

2 tbsp. red wine vinegar

1/2 tsp. kosher salt

3 c. cubed seedless watermelon

1 c. medium cucumber, chopped

1 c. crumbled feta

1/2 c. red onion, thinly sliced

1/2 c. coarsely chopped mint, plus more for garnish Flaky sea salt, for garnish (optional)

In a small bowl, whisk together oil, vinegar, and salt.

In a large serving bowl, combine watermelon, cucumber, feta, red onion, and mint. Add dressing and toss to coat.

Garnish with more mint and flaky sea salt if desired.

CASSADY Mortgage Veteran and Operations Leader

to prevent them from fighting with their siblings or teasing the dog so we can get our work done? If I have to yell one more time, you are not going to the beach tomorrow (OMG I am my mother)! All kidding aside my son loves his video games but given the chance to shoot some hoops or ride the jet skis he is all in! Kate’s daughter plays in softball tournaments throughout the

1-2GATHERzucchini.

choices. Katie’s family loves the water. Give them a day at the waterpark, a splash pad or even a water balloon fight and they are happy! Laura speaks my language! The beach! Rain or shine, there is always plenty to do. Riding the waves, building sandcastles or walking the boardwalk for pizza!

For inspirational ideas I thought it would be great to share some favorite

RawZucchiniandSquashSalad

Grate in long strips with a vegetable peeler.

KING VP, Partner Strategy & Risk Gateless,

1DRESSING

1-2 squash. Grate in long strips with a vegetable peeler. ¼ to ½ of a red onion thinly sliced. Fresh Basil chiffonade Toasted sliced or crushed almonds Parmesan Reggiano or Pecorino. Grate in long strips with a vegetable peeler.

small shallot minced Juice of one lemon Good olive oil

Sea salt/fresh ground pepper

Wash squash and zucchini well. Use vegetable peeler and grate the zucchini and squash in long thin strips. When you get to the core spot with the seeds, stop peeling. Make dressing with mincing some shallot and whisk in fresh lemon juice, olive oil, and salt and pepper. Thinly slice red onion (or mince 1 shallot if you prefer). Add to zucchini and squash. Grate the cheese with veggie peeler and add to the salad. Put in fridge for 10 minutes to chill. Before serving toss in fresh chopped basil. Top with toasted almonds.

GO MORTGAGE WELCOMES NEW CHIEF MARKETING OFFICER

Go Mortgage, a mortgage lending company based in Columbus, Ohio, appointed Jessica Manna as its chief marketing officer. As CMO, Manna will oversee all marketing initiatives and strategies to promote Go Mortgage’s brand further and drive business growth.

With over 20 years of experience in mortgage marketing and branding, Manna brings a wealth of expertise and a proven track record of success to Go Mortgage. She has a deep understanding of the mortgage industry and has led marketing efforts for several renowned financial institutions, including top lenders. Most recently, Manna served as president of digital strategy and innovation for Fairway Independent Mortgage Corporation.

“Jessica’s strategic mindset, creativity, and passion for marketing make her a valuable addition to the Go Mortgage team,” said Michael Isaacs, CEO of Go Mortgage. “Her extensive experience and innovative approach to marketing will be instrumental in elevating our brand awareness and expanding our market share. We are confident that Jessica will play a key role in Go Mortgage’s growth and success in the coming years.”

Manna’s duties will include overseeing Go Mortgage’s digital marketing initiatives, brand positioning, and messaging and driving customer acquisition efforts. She will also collaborate closely with the company’s sales teams to align marketing efforts with business goals and objectives.

CENLAR NAMES NEW SVP

Ewing, N.J.-based Cenlar FSB, a national mortgage loan subservicer, announced

that Jennifer Rowen, formerly chief compliance officer, has been promoted to senior vice president, core operations.

Rowen brings more than 24 years of banking experience to her role as senior vice president, core operations. In her new role, she is responsible for overseeing investor reporting, bank operations, payoffs, satisfactions, insurance, escrow, tax, and transfer operations, Cenlar said.

“Jennifer’s leadership skills and expertise in sustaining a solid compliance program is vital to loan operations as we continue to strengthen our risk and control efforts and deliver excellent service for our clients and their homeowners,” said Senior Vice President of Loan Operations Bill Moffett.

As chief compliance officer, Rowen was paramount in building a compliance management program, the company said. She was also responsible for regulatory change management, program management, compliance training, BSA/AML/OFAC and compliance advisory services.

Before joining Cenlar in 2016, she was vice president, compliance officer at The Bryn Mawr Trust Co., and compliance officer at Continental Bank. Rowen is a Certified Regulatory Compliance Manager (CRCM) and a Certified AntiMoney Laundering Specialist (CAMS).

PRMG WELCOMES AIMEE ELLER AS NEW GENERAL COUNSEL

Aimee Eller has joined PRMG as its new general counsel. She comes highly skilled, with over 25 years of experience in mortgage banking. She’s a native Hoosier who graduated from Hanover College and the Indiana University School of Law – Indianapolis, now known as the McKinney School of Law.

Eller is a well-rounded mortgage banking professional who graduated from the MBA Residential Future Leaders Program in October 2022 at the MBA Annual Conference. Her team won the final project presentation. She can lead IMBs of any size and most recently led the legal, compliance, QC, and risk management departments of a retail IMB.

Over the span of her career, she has supported every lending channel and operational unit in a company. She knows the lifecycle of the mortgage loan and understands the customer, LO, and AE experience from application to closing and even beyond. Most recently, Aimee has launched servicing retention and worked closely with operations to launch TPO lending.

“We are very excited to have Aimee join our executive senior leadership team and head up our Legal & Compliance Department in her role as General Counsel. We are confident her expertise in legal and compliance will continue to serve the organization and provide guidance to protect and serve the PRMG team,” said Paul Rozo, PRMG CEO.

FARMERS NATIONAL BANK EXPANDS MORTGAGE LENDING TEAM

Farmers National Bank in Canfield, Ohio, is expanding its mortgage lending team with the recent hire of Karen Jindra as mortgage sales manager out of Fairlawn, Ohio.

Jindra has been in the mortgage business for more than 25 years. She has experience working with first-time home buyers, move-

Aimee Eller

Karen Jindra

Jessica Manna

Jennifer Rowen

up buyers, FHA loans, VA, conventional, jumbo, renovation loans, new construction, home affordable, lot loans, refinancing as well as second mortgages.

“I try to make the loan experience as stress-free and enjoyable as possible,” Jindra said. “I understand the lending process can be a bit stressful at times. Therefore, I make myself available for questions or concerns as soon as possible.”

Rocky Page, vice president, director of mortgage sales, calls Jindra a huge asset to the Farmers team. “Jindra is joining our already experienced team and adding even more decades of knowledge,” Page said. “Together, we are able to help every home buyer along every step of the mortgage process.”

DOWN PAYMENT RESOURCE ADDS TO STAFF

Down Payment Resource (DPR), an Atlanta-based provider of technology for the housing industry that connects home buyers with assistance programs, has added four new team members, including Tani Lawrence, enterprise sales executive

The additions are intended to grow the company’s sales footprint, expand its relationships with housing finance agencies (HFAs), and provide enhanced support to DPR’s growing customer base, it said.

Lawrence is responsible for driving business growth by showing housing professionals how DPR’s solutions can help them better serve homebuyers and conduct operations more efficiently. Previously, she served as senior business development executive at a document fulfillment fintech, where she signed the company’s largest lender client, and in a business development role at Optimal Blue, where she specialized in its comergence risk management toolset.

CBC MORTGAGE ADDS DIRECTOR OF SERVICING & ASSET MANAGEMENT

CBC Mortgage Agency (CBCMA) has appointed Alicia Wood as its new director of servicing and asset management.

Wood, a veteran in the mortgage industry with over 25 years of experience, brings extensive servicing knowledge to the management team of CBCMA, which is dominated by women.

In her new role, Wood will be responsible for administering CBCMA’s entire loan servicing operation, servicing oversight, and loss mitigation activity on all first and second mortgages, as well as agency and investor reporting, the company said.

Before joining CBCMA, Wood served as vice president of servicing at Non-QM lender Angel Oak, where she managed non-agency and government mortgage servicing. She also spent more than five years overseeing foreclosed and bankrupt accounts at a non-agency lender that was acquired by Morgan Stanley and is now part of PHH Mortgage.

CBCMA President Miki Adams welcomed Wood’s appointment, citing her extensive experience in non-agency and government mortgage servicing. Adams expressed confidence in Wood’s ability to contribute to the growth of the company, saying, “Alicia is a talented and accomplished professional whom we are fortunate to be able to add to our new leadership team.”

CATIC ANNOUNCES NEW NATIONAL AGENCY DIVISION

Connecticut-based CATIC has formed a National Agency Division. The division will include Christine Huff, vice

president, national agency manager.

Huff is a 30-year industry veteran, having spent 29 of those years working for the industry’s largest national underwriter and having spent the remainder of the time working for a smaller regional underwriter, assisting them with key growth and strategic initiatives.

She brings with her a broad range of knowledge and experience having worked in multiple departments and roles throughout her lengthy career, including the title plant, accounting, legal/ underwriting, national agency administration, and national agency sales. Christine will be based out of the Central Florida area.

Prior to her new role, Huff was vice president, multi-state agency manager, for first national title insurance company. Before then, she was assistant vice president, national agency representative, for Fidelity National Financial, where she worked for almost 29 years.

FIRST HOME MORTGAGE NAMES WHITE BRANCH MANAGER FOR VIRGINIA LOCATION

First Home Mortgage Corporation is opening a new branch office in Gainesville, Virginia under the leadership of newly named Branch Manager Jodi White, a mortgage industry expert with over 27 years of experience in the industry.

White’s background in mortgage lending began as a loan originator in 1996 and has since extended into positions in management and branch operations, with multiple top producer awards secured along the way. Her experience with residential lending, mortgage financing, VA and FHA loans, and supporting first-time homebuyers – an area of focus for First Home

Tani Lawrence

Alicia Wood

Christine Huff

Mortgage – will be an asset to the organization and the team that will be serving borrowers from the new office.

“Jodi’s rich professional history and impressive performance record would make her a valuable asset to any lender,” said Matt Nader, senior vice president and director of sales for First Home Mortgage. “As we set down roots with this office location in Gainesville, we can do so with confidence that our newest branch is in the best of hands.”

“As a proud member of the real estate community in the Commonwealth of Virginia for over 20 years, I’m honored to be representing First Home by helping to open and lead this new branch,” said White. “I believe that partnering with the right lender can make all the difference for a prospective buyer, and through open communication and individual connections, my team and I will work hard to earn the trust of

homebuyers in the community.”

White has served on the Prince William Association of Realtors Board of Directors from 2016-2020 and holds a Master of Business Administration degree from Averett University. She holds NMLS licensing in Washington D.C., Maryland, and Virginia.

FIRST HORIZON NAMES NATALIE FLANDERS HEAD OF INVESTOR RELATIONS

First Horizon Corp. announced that Natalie R. Flanders has been named Senior Vice President and Head of Investor Relations. She will report to Chief Financial Officer Hope Dmuchowski.

Effective immediately, Flanders will be responsible for leading the company’s investor relations strategy, maintaining and building relationships with investors and analysts, and effectively communicating the company’s financial performance and strategies to continue to deliver shareholder value.

“I am thrilled to announce Natalie to this position,” said Dmuchowski. “Her experience in financial services and in our organization makes her an

invaluable resource to our investors, executive leadership team, and the board. I am confident that First Horizon will continue to have a best-inclass investor relations platform under her leadership.”

With 15 years of experience, Flanders currently serves as director of asset and liability management, where she is responsible for enterprise-wide interest rate risk management. Prior experience includes roles in corporate treasury and funds management, investor relations, financial planning and analysis and corporate development.

A graduate of Rhodes College and a Chartered Financial Analyst, Flanders was recognized as Top 40 Under 40 from the Memphis Business Journal in 2021. She is currently the Chairman of the Board for YMCA of Memphis & the Mid-South – Church Health YMCA. n

SHARE CAREER NEWS WITH MORTGAGE WOMEN MAGAZINE™

Have news of a major new hire or promotion in the mortgage industry? Submit the information to Senior Editor Keith Griffin at kgriffin@ambizmedia.com for possible publication. Announcements should include a headshot. Mortgage Women Magazine™ has the final determination on which items are published.

Jodi White

Natalie R. Flanders

Shining A Beam On The Women Who Light Up Our Profession

In an industry that often runs on swagger and braggadocio, there are times it’s reassuring to step back and pay attention to those in the mortgage world whose work serves as an inspiration to all of us. And given the additional hurdles that women in the workplace have to deal with, especially in 2023, we’re especially proud of this year’s selection of Mortgage Stars — Women Who Rise Above The Rest. Being a Mortgage Star doesn’t mean one has accomplished all her goals. Mortgage Women Magazine looked at the Stars’ accomplishments, their philosophies, and the way they support those around them. We sought out those with a spark that makes us want to better ourselves.

They help all do more for their clients, are better mentors for to their colleagues, and help us set goals to achieve what others deemed impossible. These Stars help us all reach for the stars.

The women on these pages each have a personal story of their success. Many have come from entry-level positions and are now in prominent leadership roles.

In these stories, each of us can connect to something that can inspire us to be better in some way. And in that inspiration, we can also find its sibling, admiration. Because while we strive to do as well as these honorees, we realize they have already done it.

What these Mortgage Stars share, too, is solid advice for the future. They are committed to making the industry more welcoming through traditional and creative ways.

Please join with us as at Mortgage Women Magazine as we recognize the 2023 class of women who rise above the rest, our Mortgage Stars.

SHANNON ALEXANDER

Senior Mortgage Loan Consultant

Fairway Independent Mortgage

Belton, Texas

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

I have had a few great mentors. One was my coach. She taught me to face my fears and to be bold. She also taught me to “breathe” when anxiety would creep in. I mentor other women in our industry. It is a passion of mine to help women be successful.

Which of your leadership qualities do you think contributed most to your success?

Excellent customer service skills. Attention to detail. Always keeping the needs of my clients first. But my biggest quality would be building relationships.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Embrace your uniqueness: Don’t try to fit the mold of what you “think” a mortgage professional should look like or act like. Embrace your unique personality and strengths.

What contributions are you making to the future success of women in the mortgage industry?

I coach and mentor loan officers and mentor real estate professionals. I am always giving advice to women when I can. I am approachable and continue to encourage the women around me.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

Work/life balance for women is a huge pain point, as well as mom/wife guilt. It is easy to get overwhelmed and feel guilty that we aren’t doing enough for those that we love. I feel as though my transparency of what I have been through can help other women to understand

that they are not alone in what they are facing. I try to share my wins and losses as well as offer advice to women on the things that I have done to help create a better work- life balance.

What significant changes would you like to see in the mortgage industry?

Elimination of trigger leads. Loan officers should be able to have a buyer’s representation for clients, so that the time and effort you put into the clients is not wasted if they decide to flip lenders after months of helping them. All originators should be required to be licensed, to include banks and credit unions. H

Embrace your uniqueness: Don’t try to fit the mold of what you

“think” a mortgage professional should look like or act like. Embrace your unique personality and strengths.

CERITA BATTLES

Managing Director, Head of Community and Affordable Lending Chase

Jacksonville, Fla.

What is the importance of mentoring and is this something that you focus on?

A mentor once told me, “People are not going to seek out your competencies — you have to find a way to bring your competencies to them.” Before gaining that valuable insight, I would focus on keeping my head down and doing a good job with the

What is the most important or valuable advice that you can offer to women starting their careers?

Respect your small beginnings because leadership doesn’t start at the front — it starts at the back. Every role — no matter the title — provides you with an opportunity to lead. Every job is a self-portrait of the person who did it; therefore, we must autograph our work with excellence!

One of my mentors shared this quote that has stuck with me, “you rent your title; you own your character.” Leadership starts with character. Character is not built or created in a week – it’s learned and developed over time and it’s purposeful and built on a foundation of love, honesty, compassion and respect for others. Character matters! We bring our best selves to work everyday and it’s a choice. I choose my character.

hopes of being recognized and/or tapped by a leader for promotional opportunities.

I have learned that you have to leverage every opportunity to promote your work and your worth. I have passed this wisdom down to those I now mentor. When you sit at the table, have something on your plate that adds value to the meeting, share your perspective, be courageous in your conversations, and be a part of the solution.

What contributions are you making to the future success of women in the mortgage industry?

My goal is to stress the importance of authenticity. I am who I am, and my goal is to leverage my existing platform to edify, motivate and inspire all women to do what they never thought they could. I aim to build up women, particularly those who look like me, and empower them to soar!

There’s a level of faith that is necessary to see beyond what’s right in front of you and see yourself winning! You can’t be afraid of failure because when there’s no struggle – there’s never any progress. Therefore, be courageous and give them an experience! H

Respect your small beginnings because leadership doesn’t start at the front — it starts at the back.

MEG BENNETT VP Strategic Partnerships Insellerate

Atlanta

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

Many talented women and men have helped me succeed. Mentoring and being a mentee are extremely important to personal and professional growth. If you’re open to learning, both individuals can grow from the relationship.

Which of your leadership qualities do you think contributed most to your success?

Willingness to work with other women and support my partners helping them be the best that they can be.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Dive deep, don’t give up and never be afraid to voice your opinion.

What contributions are you making to the future success of women in the mortgage industry?

Currently involved with MBA’s mPact. I offer my time to any new young professionals, women or men. I help them understand the

different MBA courses they can take to learn more and encourage them to get involved in their local MBA chapter. Ultimately, making sure they know they’re the future of the industry and be the change.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

Women supporting women vs women feeling threatened by other women. Accepting that there is room at the table for all of us will help resolve this. I try my best to help those willing to learn by mentoring and helping other queens get their crowns!

What significant changes would you like to see in the mortgage industry?

Stronger push for innovative minds to push our industry forward, allowing for higher adoption in technology and affordable housing. H

I try my best to help those willing to learn by mentoring and helping other queens get their crowns!

BLAKE BOYER Senior Marketing Consultant Art Vs. Math Carlsbad, Calif.

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

I will never forget the moment Beth came into my life in 2014. I could not wait to learn from her. Right out of the gate, she was welcoming, so kind and smart. She was the type of person that lit up a room. She had the most incredible laugh

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Never underestimate your worth. You have to be your own No. 1 advocate. Speak up, share your ideas, and don’t be afraid to negotiate for what you deserve.

What contributions are you making to the future success of women in the mortgage industry?

By highlighting the importance of marketing in driving success, I am breaking down barriers and opening doors for women to advance. My vision, creativity, and expertise are paving the way for a more inclusive, innovative industry.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

— it was contagious. She provided guidance so gracefully through the most challenging times. She was pure magic, and I cherish the trust and respect we built. I felt that sharing a small bit about our relationship would best convey how strongly I am in support of having a mentor. In 2022, I lost a great friend and mentor to metastatic breast cancer, and I often find myself asking, what would Beth do?

Which of your leadership qualities do you think contributed most to your success?

Grace and humility have been the defining qualities of my leadership style. Grace has taught me to be patient, compassionate and forgiving. Humility has taught me to listen and learn, to be open to new ideas, and to accept my mistakes.

The lack of leadership opportunities for women to advance and earning less than their male counterparts in many cases are at the forefront. Another important issue is that women face the prevalence of hostile work environments.

What significant changes would you like to see in the mortgage industry?

Understanding a borrower’s unique journey is key to a personalized experience. Lenders must prioritize customer service, communication, and transparency to build long-term relationships. H

Never underestimate your worth. You have to be your own No. 1 advocate. Speak up, share your ideas, and don’t be afraid to negotiate for what you deserve.

NELDA F. CALES Regional Manager EVP Atlantic Bay Mortgage Group

New Bern, N.C.

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

My biggest mentors have been successful female realtors, builders, and entrepreneurs. They helped me create impact and fostered my success. Not having access to women in leadership throughout the years meant I had to push to self-motivate and advocate for opportunities.

Which of your leadership qualities do you think contributed most to your success?

I am generally calm in the face of worry/unknown or conflict, and it has served me well with teammates and customers. One of my core values is to handle relationships fairly and be open to hearing everyone out before rushing to judgment or taking action.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Always make what you do about helping others. Open yourself up to the aggressive pursuit of personal and business growth.

What contributions are you making to the future success of women in the mortgage industry?

I set an example of lifting up other women, even if they are a competitor. I am open with my own focus on personal development. I share books, podcasts, or anything that I think will help strengthen their business or give them a safe outlet to share something they were unsure of.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

I remember early in my career working until 8 or 9 p.m. on a regular basis. I loved everything about it except not feeling balanced. And now, 20-plus years later, women in the workplace still struggle to be their best at home, best with their kids and spouses, and, in many cases, they are the breadwinners for their families. I believe it’s my role to help my teammates prioritize their family commitments, and have the confidence to set boundaries.

What significant changes would you like to see in the mortgage industry?

I’d love to see the playing field become more normalized on the value we bring to the client. I’d like the investment of time made with a prospective homeowner and the advice we give to have precedent over price shopping alone. H

Always make what you do about helping others.

STACY CAPRIOLI Chief Appraiser Nationwide Appraisal Network Oldsmar, Fla.

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

I grew up with a strong mother who worked a corporate leadership position. She would go to work wearing the suit, come home after making hard decisions, and still make a balance of time for her family. She mentored me to not

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Educate yourself across all lines of the industry. Find opportunities to expand your knowledge base. Be the person in the room who has the solution.

What contributions are you making to the future success of women in the mortgage industry?

I view the team I work with as the future leaders. It is my job to make sure they are highlighted for their achievements, coached on areas of improvement, and encouraged to keep reaching for their ideal positions.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

let anyone stand in my way of a goal. Her advice was not to be the “woman” in the room, just to try to be the most knowledgeable. I continue to mentor my team with similar advice and goals.

Which of your leadership qualities do you think contributed most to your success?

First, connecting with individuals and understanding what each person needs to succeed. I repeat to my team often, “I can’t help if I don’t know.” Welcoming honest feedback and encouraging individuals to approach me with what blocks them from success clears out negativity and workflow issues.

As women, we often are faced with pressures to change or adjust items based on the volume of the request. I would encourage any woman to understand the limitations of specific items, have a defendable response, and speak up. My way of bypassing any limitations is to find a seat at the table.

What significant changes would you like to see in the mortgage industry?

The common goal is to help place people in homes, help them refi in hard times, help them pull out equity to cover expenses, and so on. I would like to see more of a unification among the roles that impact those deals. H

Welcoming honest feedback and encouraging individuals to approach me with what blocks them from success clears out negativity and workflow issues.

VERONICA CASTILLO CEO

Prestige Residential Loans LLC

Beaver, Ore.

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

My grandmother served as one of my greatest female mentors. She shared the importance of being authentic, optimistic, patient with others, and persistent with goals. My grandmother shared stories which helped me to resolve complicated situations. I use my personal experiences to mentor in the workplace, and it helps to prevent complicated situations, as well as reducing workrelated stress and anxieties.

Which of your leadership qualities do you think contributed most to your success?

People are attracted to my integrity and transparency with the way I conduct my business. I am great at adapting to the many changes in the industry, and I believe in influencing other people to grow and keep them motivated. When people see a strong, confident, and happy leader, people will follow, regardless of gender.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

To stay focused and 100% committed. Learn your guidelines and stay updated with the evolving changes on products and requirements, and offer the best quality of service. To be flexible and knowledgeable will set yourself apart. Women need to embrace their strengths such as self-awareness, emotional intelligence, empathy, and a stronger ability to multitask. Young women should know that our industry is dynamic and ripe with opportunity.

What contributions are you making to the future success of women in the mortgage industry?

I am a Latina immigrant, a single mother, and an entrepreneur. I use every opportunity I have to encourage and motivate women from similar backgrounds.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

The demands from personal and professional commitments can pressure a woman to decide to focus on her business or her family. I empower my female employees who are mothers to work from home remotely. This way they can exercise their careers while they are nursing their children or raising small children.

What significant changes would you like to see in the mortgage industry?

I would like to see continued advancements and equitable distribution of resources in new technologies, which are further capable of unlocking insights that can help underserved borrowers. H

I believe in influencing other people to grow and keep them motivated.

When people see a strong, confident, and happy leader, people will follow, regardless of gender.

KRISTEN EKLUND Loan Originator

Coast2Coast Mortgage

Cudjoe Key, Fla.

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

I have had several. The one that sticks out is my rep from Union Home Mortgage, Sherry Gallitz. She is always positive and is a problem-

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Gain as much knowledge as you can and be available for clients. Never give up. I started over at 47 after a 20-year marriage ended, and I moved to Key West, only knowing one person. Two weeks later Hurricane Irma hit. I cried every night, but I pushed through. I wanted to help people after destruction, and that has pushed me to the tops of the industry.

What contributions are you making to the future success of women in the mortgage industry?

I have added three amazing women to my team. I want them to learn the right way, the hard way, so you appreciate the easy times and know how to weather the storms.

solver. I appreciate her wisdom and availability. This is what I try to be for my customers. I believe we all have a missing puzzle piece in life. When buying a home, it is my job to find that piece and get the loan closed.

Which of your leadership qualities do you think contributed most to your success?

I make myself available to everyone. I like to learn, knowledge is power and the key to getting loans closed. I am very tenacious. I don’t like to let people down. It keeps me driven and focused.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

Banking can be a guys’ world. But as we participate in golf, outings, and make our voices heard, we have made a dent in the world of lending. I try to partake in all events in the Florida Keys and on all social media outlets.

What significant changes would you like to see in the mortgage industry?

I want the politician to know the challenges we face along with what needs to be changed and what needs improvement. I want to be a part of progress and success for housing. H

I believe we all have a missing puzzle piece in life. When buying a home, it is my job to find that piece and get the loan closed.

JULIAN GREY

EVP Data and Analytics Black Knight

San Francisco

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

In recent years I have become increasingly focused on the concept of sponsorship and have been lucky enough to have great sponsors. I have had two sponsors who have really made a difference, one male, one female, opening doors, and providing opportunities and guidance. At this point, I am focused on how I can sponsor the careers of other women.

Which of your leadership qualities do you think contributed most to your success?

One of the most important qualities is my love for what I do — I find building world-class teams and finding creative solutions to complex problems to be both exciting and rewarding. I stay focused on strategy, and avoid distractions. Taking calculated risks, learning from failure, and being willing to pivot are other qualities that have helped me succeed.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Embrace change, adapt, stay nimble, become an expert in whatever you do with boldness and pride, but remain humble and endlessly curious.

What contributions are you making to the future success of women in the mortgage industry?

I assess my own teams and ensure that women are given not only the same growth opportunities

as men but a voice, and the space they need to contribute on their terms. I strive to make space for diversity in work styles and communication, recognizing that different perspectives and voices are key to driving innovation and growth.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

I’m doing my best to demonstrate that women can occupy roles traditionally held by men, and to encourage and support other women in pursuing their goals.

What significant changes would you like to see in the mortgage industry?

First, the industry must embrace emerging technologies while also fiercely protecting consumer rights and privacy. Second, advanced data and analytics should be used from origination through servicing and capital markets to bring greater transparency, healthy competition, and liquidity to the market. Consumers are smarter and more informed than ever and deserve transparent, data-rich smart products and an efficient mortgage process. H

Embrace change, adapt, stay nimble, become an expert in whatever you do with boldness and pride, but remain humble and endlessly curious.

KIMBERLY GRIM

Senior Vice President of Sales and Recruiting Fairway Independent Mortgage Corp. Rehoboth, Del.

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

I firmly believe that emulating someone who is already successful will always result in faster results. The real estate/mortgage industry is dominated by so many amazing females, and I have benefited by being able to align myself with many that I have met along the way.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

You are going to meet people who are equivalent to a roadblock. You will have to decide if you are going to turn right or left to go around that person. Your success will not be deterred by a roadblock.

What contributions are you making to the future success of women in the mortgage industry?

Trying to be the best role model for those who are starting out or struggling to succeed. Our company gives employees the option to be coached by a peer. We have classes to help a new generation of mortgage bankers to learn about our industry. I have played an active role as a coach and in creating and teaching these classes.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

Which of your leadership qualities do you think contributed most to your success?

Leadership isn’t about managing others, it’s about empowering others to do their jobs. Allowing them to make mistakes without fear of being disciplined. Setting clear expectations has alleviated a lot of stress.

Probably the biggest challenge is juggling work life balance. The one thing I tell everyone who is single, make sure you choose your life partner well and make sure they can tolerate and support the hours you will have to put in to make this a success.

What significant changes would you like to see in the mortgage industry?

Licensing would be my No. 1 thing to address. We help families realize the most expensive purchase of their lives, and we don’t require any education other than passing the test to obtain your NMLS unless you work for a bank and then it does not matter. The barrier to entry should be education. H

Leadership isn’t about managing others, it’s about empowering others to do their jobs. Allowing them to make mistakes without fear of being disciplined.

CARI GURNEY VP, Strategic Alliances and Initiatives

Equifax

Fort Worth, Texas

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

I’ve been very fortunate to have several strong women leaders as mentors. Their mentorship has been instrumental in my success and advancement, and I am very grateful for the women who’ve continued to invest in me. Being mentored and being a mentor have raised my confidence, problem solving, and leadership skills, as well as has been key in continued development of my industry knowledge and professional network.

Which of your leadership qualities do you think contributed most to your success?

My passion for building authentic relationships and successful partnerships has contributed most to my success. I strive to always show up, be real, and bring an authentic passion for not just my team’s success, but our partners’ as well. I strive to communicate openly, listen more than I speak, be honest with the facts, and have a dynamic vision and a path for getting there.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Never be afraid to try something new. Always remember that we learn from our failures more than our successes, so don’t be afraid to try and fail. Be open, curious and ask lots of questions.

What contributions are you making to the future success of women in the mortgage industry?

I am proud to participate in several organizations that foster growth, mentorship, and acknowledgement of women in the mortgage industry. I have committed in my career to recognize high-performing women, encourage them, mentor them and even

challenge them. It isn’t always easy, but we learn best when we are challenged the most.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

Early in my career, the mortgage industry was definitely still viewed as a “boys club” and very difficult to break into any type of leadership. While we have seen improvement, this is still a challenge that we all need to work together to overcome.

What significant changes would you like to see in the mortgage industry?

I would like to see more diversity and inclusion in the mortgage industry as a whole, including in leadership and C-suite roles. H

I strive to always show up, be real, and bring an authentic passion for not just my team’s success, but our partners’ as well.

JULIE JOSEFORSKY President, Financial Services Fay Financial Chicago

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

Dr. Stacy Feiner is an executive coach and was my HR business partner. I credit much of my professional maturity to her guidance. I have a lifelong mentor, Jerry Klarsfeld, who is an executive coach. He pushes me to be the best version of

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Take professional risks moving into jobs or assignments where you know the least and are most uncomfortable.

What contributions are you making to the future success of women in the mortgage industry?

I spend a lot of time mentoring young female and male professionals (and female athletes). My role is to help pave the way for advancement of women in the workplace for my daughter’s generation just as many accomplished women have done for my generation.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

myself. My mom, Joan Cox, instilled my work ethic and faith. She encourages me to pursue my passions, pay my blessings forward, and reminds me that I can do anything I set my mind to.

Which of your leadership qualities do you think contributed most to your success?

My ability to leverage the collective strengths of my team, create vision and strategy, and influence and motivate those around me to be the best version of themselves. These qualities were mostly derived from playing sports. I coach a national travel softball team and high school softball team, and I often share with my players how synergistic the qualities we build on the field translate into our family lives and professional careers.

Many women today think they have to give something up to have success in their personal and professional lives. I encourage women to stay in their career path. It is more than possible to have a successful career and robust family life.

What significant changes would you like to see in the mortgage industry?

We can be equally effective working remote or hybrid. It does require learning new skills and navigating a continuous virtual environment. I would like to see the more mature industry professionals adapt. H

Take professional risks moving into jobs or assignments where you know the least and are most uncomfortable.

REGAN KELLY

Customer Success Manager Sagent

Glastonbury, Conn.

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

I’ve been lucky to be surrounded by a large number of reliable women leaders who make it their mission to strongly support other women’s career paths. Mentorship among women helps organizations become more equitable and inclusive. As we evolve as women leaders, I believe that mentorship can stray away from being a formal activity. We’re interacting every day, which makes advice-giving and leadership support easier to conduct.

Which of your leadership qualities do you think contributed most to your success?

My path to success heavily relies on teamwork. I wouldn’t be the customer success manager, or team member without the amazing team that I have supporting our efforts to build and execute on the future of servicing as we relentlessly execute on all customer needs.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Being siloed into a position is not the key to success. Challenging yourself with opportunities to expand your role into the position you want it to be is advice that I’ve lived by. We should be using a given title as a base to propel us forward in our careers.

What contributions are you making to the future success of women in the mortgage industry?

I’m relentless about asking those tough questions, while standing my ground when I strongly believe in the response that I’m providing. This is impactful for women to see such strong assurance, with the goal to spark confidence in others to use their voice when fighting for what’s

right in the workplace and their careers.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

Women (and men) need more parental leave. Parental care is important for a work/ life balance. I’m very open about asking these questions and understanding the nuances around maternity/paternity leave.

What significant changes would you like to see in the mortgage industry?

An even heavier focus on DEI. Let’s not lose this momentum. Barriers and glass ceilings may have been broken, but let’s not stop there. Seeing more women, more people of color in leadership roles will further drive these initiatives. H

Challenging yourself with opportunities to expand your role into the position you want it to be is advice that I’ve lived by.

SHELLEY LEONARD President

Xactus Broomall, Pa.

Throughout her successful career of more than 25 years, Shelley Leonard has gained deep executive experience in leading companies to improved performances and increased market shares, successful launches of new products, expansion into adjacent markets, and the management of mergers and acquisition activity.

Leonard is considered a rock star performer in every position she’s held, says Amy Hansen,

who is revered by her peers and colleagues. Hansen says. She is a significant contributor who is impacting mortgage banking by leading a transformative industry movement that seeks to advance stagnant processes and develop innovative workflows and technologies to accommodate a more consumer-centric mortgage experience. Her impact is already being felt in how she is redefining the way mortgage verification services are delivered.

vice president, public relations at Seroka — be it at Xactus, where as president, she is guiding the company through its culmination of acquisitions and working to redefine the way mortgage verification services are delivered, or when she was at Black Knight and its predecessor businesses, where she held multiple senior and executive-level roles.

Leonard is a respected role model for women

Leonard is particularly focused on the industry’s continued lagging use of technology to solve problems that contribute to slower processes and higher costs. To that end, Leonard and her team are developing Xactus’ product and technology roadmap by improving workflows and investing in the firm’s own data and product capabilities — such as fraud tools, flood solutions, data mining and batch update products for servicing, and its proprietary platform, Xactus360.

Leonard believes lenders should know what technology is available to help them streamline workflows, improve turn times and lower costs, and understand how to actually use that technology. H

Shelley Leonard is considered a rock star performer in every position she's held.

MARCY LINDHOUT Vice President, National Underwriting Manager

DHI Mortgage

Austin, Texas

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

I’ve been fortunate to witness several great female leaders who were all instrumental at the different stages of my journey. I was able to gain tremendous insight into what it takes to be successful. Because these women were so impactful to me, it has always been a mission for me to return the favor to other women.

Which of your leadership qualities do you think contributed most to your success?

My ability to relate to, empathize with and understand people by forming relationships based on trust. I gain a tremendous amount of knowledge simply by taking the time to listen and ask questions. I seek to understand rather than wanting to be understood.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Remain humble and refrain from thinking you have all of the answers.

If you don’t know the answer, admit it. If you give an incorrect response, it could have a significant impact including breaking the trust of the person to whom you provided incorrect information.

Stay true to yourself and your values. If you don’t agree with something, don’t go along with the crowd to fit it.

What contributions are you making to the future success of women in the mortgage industry?

My company has an excellent mentorship program in which I am involved in addition to mentoring Certified Mortgage Bankers candidates. While this is important, the real mentoring occurs every hour of every day where I have the opportunity to interact and show young woman leaders how to approach and handle different situations.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

It remains an uphill battle for some women in certain organizations to feel heard, but over the past several years, it’s been uplifting to see more women hold senior management positions and C-suite roles.

What significant changes would you like to see in the mortgage industry?

The mortgage industry has blessed me with an incredible life of long-lasting friendships, financial security and a sense of purpose of being part of an incredible industry. H

Stay true to yourself and your values. If you don’t agree with something, don’t go along with the crowd to fit it.

ELIZABETH LISK EVP of Operations Champions Funding

Gilbert, Ariz.

Elizabeth Lisk is an unsung hero at Champions Funding, acting behind the scenes with an impressive impact, says Christy Mindell, executive vice president of marketing at the company.

Lisk streamlined the loan process by ensuring the user-friendly technology was programmed with compliance safeguards. She also sped up turn times by opting for an empowered decisionmaker to manage each file rather than waiting for several touches and individuals, Mindell says

production, testing, and rolling out of the HERO Broker Portal and forthcoming underwriting portal. She streamlined the loan process by ensuring the user-friendly technology was programmed with compliance safeguards.

“For her team and our broker partners, Liz is making systems stronger, faster, and safer,” MIndell says.

“To see the ripple effect of opportunity, look at Liz,” Mindell says.

Lisk began her journey in the mortgage industry as a receptionist.

“Twenty years ago someone took a chance on a single mom and that has rippled into a vibrant career,” Mindell says. “But the impact continues to have an effect as Liz has committed herself to giving her team the knowledge, voice, and skills to continue to grow professionally.”

“Her drive and her team spirit keeps her constantly enhancing services and procedures, making her a Champion for the broker partners she serves and the team within,” Mindell says.

Lisk empowered mortgage brokers with uncommon resources, such as the ability to self-disclose. She had a hands-on role in the tech

Lisk has served in a variety of departments including compliance, providing insight from the vantage of an array of stakeholders. She sees the big picture, Mindell says, making her role in the development of new technologies and procedures unique for an operations leader.

Lisk provided broker training to ensure Champions’ partners were empowered and given the highest levels of customer support.

“Liz’s success reflects what is possible for all mortgage professionals — a fulfilling career and an opportunity to make an impact,” Mindell says. H

“For her team and our broker partners, Liz is making systems stronger, faster, and safer.”

> Christy Mindell, executive vice president of marketing, Champions Funding

SHELBI LUSK President

Link Mortgage Group

Kansas City, Mo.

Shelbi Lusk believes that all people deserve an opportunity, whether that be for home ownership, financial improvements or overall personal growth and mindset.

She has a passion for not only mortgages but for helping others. Her drive and determination to make a difference in others’ lives is not only admirable, but truly what she stands for.

Lusk has been involved in mortgage processing, administrations and origination. In 2019, she became an owner of a Mortgage Brokerage.

Being just 31 years old, and already with 12 years in the industry, Lusk has grown a network of like-minded professionals who are determined to create and provide an unmatched client experience. In 2022, she was awarded Top 1% Loan Originator, and the Top 20 Originator in Kansas City..

Lusk has been on a mission to further homeownership education, opportunities and overall personal growth. She has extended that mission into assisting

her realtor partner’s business growth through community outreach and social media coaching. She was recently selected as a Captain of Missouri partnered with the Association of Independent Mortgage Experts to further the mission of broker and consumer advocacy. This new, exciting and additional position will further the reach of broker channels, providing additional resources to our community and homeownership opportunities. H

Her drive and determination to make a difference in others’ lives is not only admirable but truly what she stands for.

ERIKA MACIAS EVP, Co-Founder and Chief Operations Officer HighTechLending, Inc.

Irvine, Calif.

Erika Macias has helped take HighTechLending, a company she co-founded with Don Currie in 2007, to the top 10 reverse mortgage lenders in the U.S.

HighTechLending’s winning strategy consists of a carefully crafted blend of excellent price, niche product offerings, and exceptional customer service, according to Melanie McAllister, vice president of HR and communications at HTL.

“Erika’s mantra was to own and operate as a successful mortgage lender by strategically focusing on low-risk, profitable loans that are managed through our quality assurance procedures,” McAllister says. “It was to motivate all sales and Operations to capture market share by partnering at the point of sale with our enhanced customer service and paperless loan and file flow process.”

Macias believes that giving back to the community should be an important part of any successful business, brokers included, McAllister says.

Macias personally championed partnership with The Leukemia & Lymphoma Society. And she mentored up-andcoming rookie women in the mortgage industry. Called “Leading Ladies into Leadership,” her goal was to empower the women into leadership roles and prepare them for today’s business.

McAllister said Macias will continue to lead HighTechLending to greater heights after the passing of Currie, her best friend and partner, in March. H

“Erika’s mantra was to own and operate as a successful mortgage lender by strategically focusing on low-risk, profitable loans.”

> Melanie McAllister, vice president of HR and communications, HTL

MARIA MOSKVER CEO Cloudvirga Orange County, Calif.

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

Absolutely, I have had many mentors throughout my career, and I continue to seek their guidance and insights. Mentoring is a highly effective way to ensure continuous growth and improvement. I have served as a mentor for others throughout my career, and I currently do so with my internal teams.

Which of your leadership qualities do you think contributed most to your success?

Leading with a strong work ethic and integrity throughout my career, qualities essential to be an effective leader. I also have a very collaborative style which is not always considered traditional for a leader — but I prefer to get input from the team before I make a decision.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

People do not generally know about all the different roles that exist. Expand your horizons and learn about them. There could be a job that could turn out to be a perfect fit just waiting for you.

What contributions are you making to the future success of women in the mortgage industry?

I have been strongly advocating for women in tech roles starting in my early days. I also believe my leadership contributions — speaking at multiple national industry events and writing for various publications — also contribute to women’s future success.

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

We need to holistically consider what happened during COVID — the enormous number of women who left the workforce. We must look at ways to bring women back into the workforce and into our industry.

We’re in the midst of forming a California

Women in Mortgage group. We are starting to see more and more professional women’s organizations being formed on the state and local level.

What significant changes would you like to see in the mortgage industry?

The mortgage process needs to become much more efficient and yet still deliver a great customer experience. There must be far greater adoption and use of technology industry-wide. The various players need to figure out how to use emerging technologies to better share relevant data and information. H

People do not generally know about all the different roles that exist. Expand your horizons and learn about them.

There could be a job that could turn out to be a perfect fit just waiting for you.

AMY JO PLUMMER VP of Customer Success Maxwell Dallas, Texas

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

My mom is my greatest mentor, and where I get my strong work ethic and sense of values. When it’s necessary to power through, I reach back to what I’ve learned, and continue to learn, from her. I’ve been lucky to have some

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

It seems obvious to say “lean In” but it’s true. The more you can immerse yourself in understanding the needs of the industry, the customer, the borrower, the quicker you can work toward that.

What contributions are you making to the future success of women in the mortgage industry?

Continuing to shine a light on the great women leaders we have today is one way of doing that. Women have been given seats at the table, but there’s more out there for us. We need the next generation that sees the future path of mortgage to step in!

What are the main problems that women in the industry are facing today and what have you done to address or resolve them?

incredible professional mentors as well who have shaped my career. It’s absolutely important for women to see representation and have someone that they can connect with.

Which of your leadership qualities do you think contributed most to your success?

My work ethic, strategic thinking, and growth mindset are probably the top three. Without these, you’ll struggle to find success. It’s also so important to be able to partner with other great minds.

So many of the leaders in our industry, women or otherwise, have failed to build a model that moves with the market. We need leadership to open their doors to problem-solving so they can provide stability. We can’t continue to draw the best of the best into our industry if they are fearful of joining companies that can’t manage costs and solve problems with people.

What significant changes would you like to see in the mortgage industry?

The industry has not done well merging tech with the loan manufacturing process. The idea isn’t to replace the person — it’s to arm that person with tools that allow them to do more every day. ★

Women have been given seats at the table, but there’s more out there for us. We need the next generation that sees the future path of mortgage to step in!

SUZANNE ROSS Director of Account Management, Mortgage Ocrolus

New Albany, Ohio

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

I am fortunate to have a myriad of female mentors both within and outside of the mortgage community. Female friendships and mentorships are paramount and crucial for personal growth and development. Engaging with accomplished women from various industries, who share similar experiences as I do, has helped me navigate the challenges and obstacles in my life.

Which of your leadership qualities do you think contributed most to your success?

Resilience! It’s a quality we all possess, though it can be difficult to summon in moments of defeat. I understand these moments present opportunities for growth, strength, and rebirth. The knowledge that I have overcome challenges is a testament to my resilience and gives me the confidence and determination to forge ahead.

What is the most important or valuable advice you can offer to women starting their careers in the mortgage industry?

Find your voice. Women often feel compelled to emulate someone else or adopt a different persona to succeed, but true success lies in knowing yourself and evolving into the finest version of yourself.

What contributions are you making to the future success of women in the the mortgage industry?

I have the privilege of consulting daily with women in the mortgage industry. As I have walked in their shoes, this gives me a unique opportunity to connect with them on their

specific needs and understand their challenges from a place of empathy in a way that they know our solutions have been created specifically for them because I know them.

What are the main problems women in the industry face today, and what have you done to address or resolve them?

Women often feel that they have to be self-deprecating and apologetic; otherwise, they are seen as harsh and rude. Strong personalities from women are sometimes responded to negatively. To combat this, I have a strategy of creating champions within the workplace. This involves giving credit where it is due, recognizing the efforts of others, and celebrating the successes of my colleagues.

What significant changes would you like to see in the mortgage industry?

More women in technology roles! Either within the lending community or at a tech company. Women are imaginative, logical, analytical and natural problem solvers. H

Find your voice. Women often feel compelled to emulate someone else or adopt a different persona to succeed, but true success lies in knowing yourself and evolving into the finest version of yourself.

JULIE VELASCO Senior Loan Originator Network Funding, LP

San Antonio, Texas

Nominating Julie Velasco was rather simple, says Jamie Hoggatt, a Network Funding branch manager.

“She is exactly what the award calls for,” Hoggatt says. “She is a true mortgage star in every sense of the word.”

Her work ethic is second to none, Hoggatt says, and she has gone from originating $15 million per year in 2015 to $65 to $75 million in 2020-2022.

“She is relentless and is always working with her customers’ best interest in mind,” Hoggatt says. “She has developed a very strong team that focuses on getting the job done and closing the transaction on time.”

She is the No. 1 ranked loan originator for Network Funding in the country, Hoggatt says.

Velasco is very involved in the San Antonio community and is always looking for ways to give back and make others’ lives more complete.

“We are truly blessed to have Julie as part of our Network Funding family,” Hoggatt says. H

“We are truly blessed to have Julie as part of our Network Funding family.”

> Jamie Hoggatt, branch manager, Network Funding

SERENE VERNON President

LoanStream Mortgage

Irvine, Calif.

Have you had any great female mentors? What is the importance of mentoring and is this something that you focus on?

I’ve had a few great female mentors as I was starting out who always provided me with sound advice and were great role models. They taught me to face challenges head-on and look to navigate and overcome obstacles. Mentoring other women is something I strive to do every day by being a role model for what they can achieve.

Which of your leadership qualities do you think contributed most to your success?

Always remember to treat those around you as you would want to be treated. Being a leader and a manager are two different things. A leader is never fearful of hiring someone smarter than them. I’d like to think my fearlessness is something that has most contributed to my success.

What is the most important or valuable advice that can offer to women starting their careers in the mortgage industry?

Create stability in your resume/profile. Everyone knows the mortgage banking business is cyclical. When times go bad, many lose their jobs. I see far too many women jump around when enticed with the next salary/benefit package, rather than speak with their current employer about their needs.

What contributions are you making to the future success of women in the mortgage industry?

The success of women in the mortgage industry has always been a priority for me and for our company. We do that through several ways, including hiring women in various types of positions from sales, to operations, to executive leadership roles.

What are the main problems that women

in the industry are facing today and what have you done to address or resolve them?

Women still tend to make up a large portion of the operational/support roles. More and more layoffs are happening in these roles. I am doing everything I can to create jobs and, where we don’t have one that fits, to try and promote women to good recruiters and other companies that may have jobs.

What significant changes would you like to see in the mortgage industry?

I would like to challenge myself and each of my fellow women in management, to be the best leaders we can be. To lead by example, to help foster the goals of other women under us. H

Being a leader and a manager are two different things.

A leader is never fearful of hiring someone smarter than them.

Picture your dream home. Now look down. There’s a bright red line keeping you out. Join host Katie Jensen as we dive into redlining and the legacy of discrimination. You’ll hear first-hand accounts from those who’ve had to fight back to achieve their dreams. And we’ll challenge industry leaders on how to rewrite this legacy.