Mortgage Women Magazine January 2021 by ambizmedia

MORTGAGE

J A NUA RY/ F E BRUA RY 2021

A MB I Z ME D I A

WOMEN MAGAZINE

WOMEN MENTORING WOMEN

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W E NE E D MORE WOME N IN S E C ONDA RY & C A P I TA L M A RK E T ROL E S!

NE W Y E A R, S A ME ME ?

Published bimonthly by American Business Media LLC 345 North Main St., Suite 313 West Hartford, CT 06117 Phone: (860) 719-1991 Email: INFO@MortgageWOMENMagazine.com www.MortgageWOMENMagazine.com

The Preeminent Resource for Women in the Mortgage Industry

OUR MISSION The mission of this publication is to empower women professionals working in the mortgage industry. The publication seeks to provide education and knowledge to give each professional woman key tools to achieve their highest potential possible and to enable them to take advantage of the opportunities before them. Through the magazine's networking and connection from readership, each woman has the opportunity to be inspired and extend that through mentorship-furthering achievements to the highest level positions possible in the mortgage industry.

SUBSCRIPTIONS This publication is for the benefit of professional women in the mortgage industry, including those professional mortgage women who own and/or who are employed by the vendors who support the mortgage industry, and all professional mortgage women in the mortgage divisions of the State- and Federally-chartered banks and credit unions. If you do not currently receive Mortgage Women Magazine, please go to www.mortgagewomenmagazine.com and subscribe. Mortgage Women Magazine is a digital, bi-monthly magazine that is emailed to the subscribers. The subscription is FREE. For additional copies for your colleagues and co-workers, please visit our website at www.mortgagewomenmagazine.com and complete the online subscription form. To opt-out of receiving Mortgage Women Magazine, please send your request along with your name, company name, and email address to: subscriptions@mortgagewomenmagazine.com.

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EDITORIALS / ARTICLES To submit an article for consideration in Mortgage Women Magazine, please send an email to articles@mortgagewomenmagazine.com. We are interested in original writings relevant to the mortgage industry as it relates to Legal, Regulatory Compliance, Risk Management, and Quality Assurance issues. If you have a comment or question about an article or editorial published in Mortgage Women Magazine, or if you have a suggestion for a topic you would like to see featured in a future issue, please send an email to articles@mortgagewomenmagazine.com.

MORTGAGE WOMEN MAGAZINE POLICY The information and opinions expressed by contributing authors and advertisers within Mortgage Women Magazine do not necessarily reflect those of American Business Media LLCâ&#x20AC;&#x2122;s management and /or employees and should not be considered as endorsed or recommended by American Business Media LLC.

To stay on top of the latest news relevant to women in mortgage, follow us: twitter.com/MortgageWomen linkedin.com/company/mortgage-women-magazine facebook.com/MortgageWomenMagazine We welcome your comments and suggestions. Email us at: info@mortgagewomenmagazine.com

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F ROM T HE E DI T OR Say what you will about 2020, but I think we can all agree that it is a year that will go down in the history books. While most folks are cursing at 2020 while kicking it out of the front door, I would like to reflect back on the year with a more positive mindset. Yes, it was difficult (and that is an understatement), and there is no way you could have made it through completely unscathed, but there are nuggets of goodness to be found amongst the rubble.

Vincent Valvo

CEO, Publisher & Editor-in-Chief vvalvo@ambizmedia.com FOUNDING PUBLISHER | Ben Slayton BSlayton@Twelve11Media.com MANAGING EDITOR | Leora Ruzin LRuzin@Twelve11Media.com SENIOR EDITOR | Jill Emerson JEmerson@Twelve11Media.com DIRECTOR OF ADVERTISING David Hoierman Hoierman@Twelve11Media.com PRODUCTION | Henry Suchman HSuchman@Twelve11Media.com DIGITAL MEDIA | Lucas Luna Lucas@Twelve11Media.com COLUMNISTS & CONTRIBUTING AUTHORS

Megan Anderson Patricia Arvielo Rhiannon Bolan Laura Brandao Jessica Ehler Ashley Gravano

Deborah Jones Laila Khan Andria Lightfoot Lysa Nelson Stacie Rankey Dalia Ramos

Sam Verma Casey Hughes-Wade Sue Woodard Suha Zehl

MWM ADVISORY BOARD KRISTIN MESSERLI CHIEF EXECUTIVE OFFICER CULTURAL OUTREACH LISA KILKA CHIEF COMPLIANCE OFFICER, SVP GUILD MORTGAGE MELISSA KOUPAL VICE PRESIDENT LOAN INTEGRITY LOAN DEPOT

It would be foolish to think that the minute the clock strikes midnight on January 1st, everything will magically change, so it is important to be mindful of the struggles that we all continue to navigate through, while also going into the new year with renewed hope and purpose. For me, that means to continue to be grateful for my many blessings, and to continue to give back in any way I possibly can. For those of us in the industry, 2020 was a very fruitful, if not exhausting, year and it looks like 2021 will be much of the same. We are not only gainfully employed, we are the one bright line in a tangled web of doubt and confusion in our country. As long as we remember that we get to effect positive change in the lives of millions, the hard work wonâ&#x20AC;&#x2122;t be in vain. For me personally, I am beyond grateful to have the ability to continue curating this magazine, and to encounter some courageous and strong women along the way. For this issue, I was blown away when I read stories of women mentoring other women, facing challenges in finding a path in their career, and the pure raw emotion that our writers poured into their words. We also highlighted a few trailblazers in the areas of Secondary & Capital Markets, which is the quite possibly the most complicated and misunderstood role within the mortgage manufacturing process. I hope that their stories will help women gain insight into this fascinating and critical role. Here is to 2021- may the New Year bring new opportunities, new passions and renewed hope in the American Dream.

All the best,

REGINA LOWRIE PRESIDENT & CHIEF EXECUTIVE OFFICER RML ADVISORS SARAH BOWERS, CRCM, CMB, CAMS COMPLIANCE ADVISOR COMMERCE BANK DEBRA STILL PRESIDENT & CEO PLUTE MORTGAGE BECKY WALZAK PRESIDENT & CEO RJB WALZAK CONSULTING SUE WOODARD PRESIDENT & CEO VANTAGE PRODUCTION, LLC JILL EMERSON SENIOR EDITOR MORTGAGE WOMEN MAGAZINE

Visit us at www.mortgagewomenmagazine.com

Leora A. Ruzin, CMB Managing Editor

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 info@Twelve11Media.Com.

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JANUARY/ FEBRUARY 20 21

COV E R S TO RY

F E ATU R E S

Breaking the Glass Ceiling into Secondary Markets

Mentoring: It Matters!

You Still Need a Compass Even If You Have a Map

Women Mentoring Women: Five Steps to Maximize Your Legacy

26 30

M EG A N A N D E RSO N S TAC I E BA N K E Y LYS A N E L SO N

LAILA KHAN

The Power of Women Mentorship SAM VERMA

Finding Your Female Tribe R H I A N N O N B O LE N

IN EVERY ISSUE 52 TRAILBLAZERS PATTY ARVIELO

56 #LEADINGWOMEN DALILA RAMOS

The Challenges of Women Mentoring Women C A S E Y H U G H E S WA D E

4 EDITOR'S FOREWARD

Paving the Way: An Interview with Cathleen Schreiner Gates and Pam Falkner

55 MOVERS & SHAKERS

A N D R I A LI G HTF O OT

60 TECH TALK

Sat YES to Mentoring!

64 HOLISTIC WELLNESS

L AU R A B R A N DAO

68 MORTGAGE MOMS

A Capital Markets Journey: Investing in a Diverse Path, Mentors and Cultures

71 BOOK OF THE MONTH

DEB JONES

59 CAUSE OF THE MONTH

72 ASK THE EXPERTS 76 THE C-SUITE

URLA

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A&S Elite: A&S Elite, what is your emergency?

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Customer: We thought we had URLA under control, but things just aren’t working right! Business rules aren’t firing, custom fields and reports are a mess. My URLA applications are incomplete. HELP!!!

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A&S Elite: Remain calm, it seems MORTAY has struck again.

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Customer: Can you help us?!

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A&S Elite: You bet we can! We help resolve your URLA issues and get MORTAY under control.

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Regu lat i ons T hat A ffec t Yo u

BRE AKING THE GL ASS CEILING INTO SECONDARY MARKE TS

BREAKING THE GLASS CEILING INTO SECONDARY MARKETS

BY M E G A N A N D E R S O N

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“ W H E N A DOO R I S H A R D TO O PE N , A N D I F N OTH I N G E L S E WO R KS , SO M ETI M E S YOU J UST H AV E TO R E A R BAC K A N D KI C K IT O PE N .” – M U R I E L S I E B E RT

When Lew Ranieri introduced the concept of a mortgage-backed security in the 1970s, the secondary mortgage market was a man’s world, much like many industries at that time. Muriel “Mickey” Siebert, who became known as the first woman in the world of finance, was determined to change that. Like many of us, Mickey was driven by a vision. She believed America needed more women in leadership and that we were at a disadvantage without women’s insight and perspective. When Mickey moved to New York city, she had $500 to her name, a couch to sleep on, and a goal to break the glass ceiling into the finance world. Soon, Mickey began working her way up the ladder and one day she asked a coworker, “Where could I work and get equal pay as a man doing the same job?” He replied, “You would have to buy a seat on the stock exchange.” On December 28, 1967, Mickey became the first woman to own a seat on the New York Stock Exchange, joining the 1,365 male members at that time. In the decades that followed, many women have broken glass ceilings in the mortgage field. From sales representatives to market analysts, women across the industry have made a positive impact, which includes the secondary or capital markets.

BRE AKING THE GL ASS CEILING INTO SECONDARY MARKE TS

MORTGAGE WOMEN MAGAZINE â&#x20AC;¢ JANUARY/FEBRUARY 2021

BRE AKING THE GL ASS CEILING INTO SECONDARY MARKE TS

I believe Mickey paved the way for so many women, and in so many ways. I read that Mickey said, “Women have the ability. It’s up to each of us to encourage each other.” This statement resonates with me and perhaps all women.

“ SUCC E SS I S STE A DY PROG R E SS TOWA R DS O N E ’ S PE RSO N A L G OA L S .” – J I M RO H N

PICKING A PATH IN SECONDARY

Like Mickey, I believe we must empower one another so we can take up space and be heard. Each sector of our industry offers almost endless opportunities, and each of us can choose a path that lets us focus on our strengths, master our goals, and break a few glass ceilings of our own. Here are just a few paths you can take: Sales. Knowledge is power and the difference between someone who can carry a conversation and someone who can control a conversation with knowledge is the difference between selling and being sold. Loan originators must be well versed in the economic drivers of interest rates and key indicators that control the market, like inflation, housing and employment reports, recession indicators, technical charts, and so much more. Secondary and Lender Ops. If you are analytical and love the financial markets, along with a fast-paced environment of risk management, the secondary department at any independent mortgage banker is packed with daily action. Marketing. Being able to effectively communicate what is happening with rates to consumers is an art in and of itself, and one that I am personally working to master. But it’s such an important goal, because we have the ability to help potential homebuyers understand the financial opportunity in homeownership, making a difference in their family’s lives. If wordsmithing and creating compelling content is your passion, this path provides real opportunities to positively impact countless peoples’ lives.

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SETTING YOUR GOALS

Mickey’s story reminds us of the importance of setting goals and what we can achieve when we take daily action towards them. Having daily, weekly, and monthly milestones can keep momentum and motivation primed, so we stay focused on the actions that will help us achieve our larger goals and dreams. Here are just a few simple tools that help me stay focused: Routine and reminders really help me plan my day. I love making a to-do list the night before because it really helps me focus on my highest priorities that must come first. And when interruptions or unexpected things come up, as happens to all of us, I can quickly look at my list and determine what truly is most crucial. Mindset is also critical for all of us. I can only imagine how many people through the years told Mickey, “You can’t do that!” But she didn’t give up and she kept trying different avenues until she reached her goal. It’s important to remain steadfast no matter the distractions and obstacles that invariably will occur. Ultimately, we have the power to decide what we hold true and believe in ourselves. Learn from people who came before you. I would not be where I am today without learning from my mentors and colleagues. No matter what path you take, find people who have reached the goals you want to achieve. Study their habits and never be afraid to ask them questions. Remember, the worst question may just be the one that is never asked. You’ll save yourself time and potential missteps by seeking

BRE AKING THE GL ASS CEILING INTO SECONDARY MARKE TS

out the knowledge of people whose success you want to emulate. Build a network of trusted colleagues that you can mutually count on for advice, feedback, and support. The best mix is a group of people you can learn from, but also inspire with your knowledge and unique gifts. And if you fall on tough times, they can be the voice of reason that gives you clarity and encouragement to continue. Lastly, don’t be afraid to share your accomplishments and your challenges with your network and on social media to build rapport and real connection with your followers. People resonate with others who are real, honest, and approachable so this is a great way to connect, inspire, and encourage others, building your brand and reputation in the process.

MY BREAKTHROUGH

Sometimes opportunities knock but it’s up to us to open the door. For me, that knock came five years ago. At the time, I was looking for a career change and the next great challenge. I happened to work at an event near my home in Las Vegas called Mastermind, which is one of the largest mortgage and real estate conventions in the U.S. Little did I know this would change the entire trajectory of my life. I met mortgage icons like Barry Habib, who helped me answer the question, “What’s next?” He suggested I come work for his company, MBS Highway, a leading platform helping mortgage professionals analyze the markets and increase production. Like Mickey, I took a chance, shipping three boxes across the coun-

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

BRE AKING THE GL ASS CEILING INTO SECONDARY MARKE TS

try, selling my car and hopping on an airplane to my new home: a small attic above a hair salon two blocks from the office in New Jersey. It was during this time especially that I utilized the my tools: daily routine, mindset, learning from others, building a trusted network, and sharing accomplishments and challenges to stay focused on my goals. I wanted to help mortgage and real estate professionals gain the confidence to understand the markets, so they can position themselves as a local, trusted celebrity advisor. My daily routines gave me purpose, structure, and focus. One thing that was especially helpful then and now is my morning routine of saying what I’m thankful for. This is also when I honed my practice of staying on offense by setting my daily agendas and goals the evening before, which has helped me guard my time so I can better utilize it for our clients and my tasks. Moving away from friends and family certainly has its challenges, and I’ll be honest in saying I had to work at staying positive in those early days. But my morning routine really strengthened and solidified my mindset and commitment to the opportunity I was given and my goal of helping mortgage and real estate professionals understand the market and gain the courage to position themselves as a trusted advisor on social media. Similarly, I know that being open to learning from the leaders and mentors in my life has played a huge role in my ability to succeed. Barry Habib was the first person to help me in the mortgage field. He saw what motivated me and pushed me to be my best through speaking on stage, getting over my fear of phone calls, and teaching me the importance of not leaving anything for tomorrow. I have also gained the courage to share on social media. I’m in an interesting sector of the secondary market. At MBS Highway, I have learned how to read candlestick charts, interpret how news affects the markets, what monthly

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housing reports really mean, and how to articulate all of this to loan originators in our daily update video. I also speak about how loan originators can use social media and video to position themselves as a local trusted celebrity advisor. In the process, I have learned how many people find it hard to talk about or record videos of themselves. People often ask how I went from being brand new in the mortgage space a few short years ago to becoming a name many know. A big part of this was brand positioning through social media. I encourage you to share your journey, no matter where you’re starting.

SUPPORTING MICKEY’S VISION

“Women have the ability. It’s up to each of us to encourage each other.” Like Mickey, I encourage each of you to break your own glass ceiling and be mentors to one another. I’m incredibly grateful to my female mentors like Christine Beckwith, who graced me with the Women with Vision award last year. And to Cindy Ertman and Marilyn Richardson who encouraged me through their stories and believed in my message enough to coach their audience. Therefore, I’d like to leave you with this thought. It is our sacred duty to promote and sponsor one another as Mickey envisioned. By doing so we build upon our greater achievements and further support our sisterhood, helping create an industry where glass ceilings no longer need to be shattered. Megan Anderson is Vice President of Marketing at MBS Highway, the industry’s leading platform for mortgage sales professionals. She is a well-known professional speaker and teacher, who is passionate about helping others grow their business and gain more confidence in themselves. She is also the winner of HousingWire's 2020 Women of Influence award, in addition to NMP’s 2019 40 under 40 award and the 2019 Women with Vision award from Mortgage Women Magazine.

MORTGAGE WOMEN MAGAZINE â&#x20AC;¢ JANUARY/FEBRUARY 2021

M E N T O R I N G - I T M AT T E R S!

ME NTORING

! s r e tt a It M BY S TAC I E R A N K E Y

Mentor. The word has become a buzz word in the professional world. All the cool people are talking about it, speakers are doing Zoom presentations on it and organizations are promoting it. I had mentors before it was cool, and I have two mentors. One is younger than me by a few years and she brings honesty, financial savviness, and wisdom to our relationship; we have been connected for 13 years. The other one I connected with at the beginning of my career is my big sister. She brings perspective, truth, and care to our relationship and we have been connected for about 17 years. My life both professionally and personally are richer because of these women. 14

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M E N T O R I N G - I T M AT T E R S!

It was never a formal ask, it just happened, and they readily gave of themselves. I called before I changed jobs, when I had a gal who did not want to work with me at the office, but against me. I called for advice about different segments of the industry and networking and sometimes just to ask for prayers. We text a lot, we are all busy, but I always find a way to connect to them. And if it has been too long, they check in on me. That is the beauty of mentoring and why I feel called to do the same. We can make the path a bit easier by sharing our knowledge and offering advice. You generally know who is open to that, and those that arenâ&#x20AC;&#x2122;t to share the value. If we do not talk and tell each other our professional stories and how we navigated it in muddy waters, then we risk younger women not understanding the importance and value. Some younger women do not know how to find a mentor or how to ask someone to be their mentor. As professionals and certainly as women, we are encouraged to have a mentor. Mentoring is the future for our industry; there is a lot you cannot learn in a book. The good news is more people are sharing that they have or have had mentors. And there seems to be two groups: those that do not have any idea about mentoring and how much it can add to your growth and those that do and embrace multiple opportunities to mentor or be mentored It is not a spoken rule, but in any industry and certainly in a male dominated one, it is key in navigating office politics interactions, meetings, and conferences. It was never really spoken about when I entered this industry 19ish years ago. Luckily it is becoming an ongoing conversation as women are taking a proactive role in their professional development, including looking for additional resources through coaching, networking groups, and mentors. I think of it as a gift I am responsible for paying it forward. A simple way to thank all those that have extended themselves for me as I have gone

through my professional journey. That college graduate who has great ideas but is reserved with the team. Share with her some direction for those ideas and tell her what you see in her. And there are many ways to mentor. You can have a regular schedule with your mentee, or it may be more that your actions are visible and you are able to mentor a larger group. This can be incredibly helpful in navigating the questions of what they should expect in situations that can have a positive impact on them, the business, and their industry reputation. Not knowing can lead a person new to the industry down the wrong path. And the effort it takes to reestablish your reputation can take years. You can do a lunch and learn preparing them for conferences, strategizing for a client meeting, or even how to participate in the industry. We all know there are tons of places to connect and network, share that information with a younger colleague, or better yet invite them to something you are attending and give them an idea what to expect. You can then answer any questions that they may have or be able to make an introduction to someone that they want to connect with but were afraid to reach out to because of their reputation in the industry or title. We are so blessed to have women-focused groups within the industry, but chances are, and especially now in our new world of Zoom, you know about that group because of your connections and networking. Are you sharing that information with your team or with someone that you know is struggling and needs to connect with some leadership that is not at the office? What a perfect time to mentor someone. Think back to your first mentor. Chances are most of us will say a parent or a teacher. We did not know that the support and encouragement was mentoring, but we all made our way with that support and encouragement. And as we gain positions and responsibilities, we need different types of support and encouragement or just a good kick in the pants when we are not fulfilling our goals. Sometimes the work is hard, but the payoff is so

MORTGAGE WOMEN MAGAZINE â&#x20AC;˘ JANUARY/FEBRUARY 2021

M E N T O R I N G - I T M AT T E R S!

worth it, and the best part is you have someone by your side to reassure you that you are on the right path or back up and take another shot. Failure is the key to success. I consider myself lucky, in my little country town population of 5,000. My mom chose a career outside of the home, not to be a homemaker, and my grandmother stayed with me. I was blessed to have that close relationship. All my friend’s moms stayed home. I knew I was not nurse or teacher material, but I was intrigued by business. When I went to college a semester late because I was working, my mom gave me a copy of John Molloy’s Dress for Success, which was a hot topic in the late 80’s. More women were choosing a career, but we had missed a lot of information on the office and Molloy sought to provide solutions. This book taught me a lot and really set me up for a lifetime of mentoring and be mentored. Mentors give freely of their experience and exper-

tise to others so that we, as women, learn and then we can reciprocate. Mentoring is meant to be taught and shared. I encourage you to look around and see who you can help by either talking to them about mentoring or being their mentor. Mentoring makes us all better and another way to leave your legacy. We are all called to make this industry better than it was when we got here. The question is are you going to answer it? Stacie Thomas Rankey has spent over 18 years in the Mortgage Banking Industry. She began her career at REO Magazine in 2001, now known as DS News and helped the successful launch of the publication as well as its associated Five Star Conference. Stacie has worked in Operations, Sales and Client Relations and held executive positions with American Legal & Financial Network (ALFN), LOGS, and Altisource, Dimont and launched Full Circle Solutions, a consulting firm to the Mortgage Banking Industry in 2018 serving clients in asset management, law firms & title segments in the industry.

Hussey AlexAlex Hussey

I AM A VETERAN AND THIS IS MY VICTORY.

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“My victory is removing ‘can’t’ from my vocabulary.” Alex was hit by an IED in Afghanistan. He lost both legs, his left hand and has a traumatic brain injury. With support from DAV, Alex is taking on mountains. DAV helps veterans of all generations get the benefits they’ve earned—helping more than a million veterans each year. Support more victories for veterans®. Go to DAV.org.

MORTGAGE WOMEN MAGAZINE â&#x20AC;¢ JANUARY/FEBRUARY 2021

Y O U S T I L L N E E D A C O M PA S S E V E N I F Y O U H AV E A M A P

You Still Need A

ss a p m Co

Even If You Have A Map

BY LYS A N E L S O N

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What are the practices you utilize when you find yourself needing help dealing with family, relationships, personal trials, finances, physical fitness, and maintenance of your emotional, mental, and even spiritual well-being? How do you navigate all the nuances of your business world, particularly if you are new to your chosen career path? What do you do when you find yourself with more questions than you can Google answers for or when you feel directionless and become frozen and immobile, simply because you just do not know the first step to take?

Y O U S T I L L N E E D A C O M PA S S E V E N I F Y O U H AV E A M A P

It is here, in the dawn of uncertainty, that the paths can be lit by a guide more seasoned in any or all these areas, and that guide is what you call a mentor. The word mentor is derived from Greek literature and means “a wise and trusted counselor (advisor) or teacher.” It can be defined as “someone who guides another to greater success.” Mentor has also been defined as “a person having experience who provides personal or professional guidance.” The word comes from the Indo-European root men-, meaning “to think,” thusly, a mentor does not simply guide or direct, they too must think of all the moving parts of a mentor/mentee dynamic. Let me elaborate by sharing my personal experience with you. Over the years, I have had the privilege of partnering in mentorship with many people in their mortgage careers. Delving into such areas as relationships, leading from the front, managing up, managing styles, negotiating, perspective, and climbing the corporate ladder. However, what gives me the most pleasure, the most joy, and where I believe I reap the greatest benefits as a mentor, are from the women, many of which are young, that I have the pleasure of guiding through life as a recovering alcoholics or drug addicts. Especially when I engage with these women from broad backgrounds who have an incredible number of hurdles to overcome. Here is my role as I see it. First and foremost, I pass the knowledge and experience I possess to those who seek it. A mentor usually serves as a source of experience in effort to help foster strength and point a mentee in the direction of growth. The “thinking” part for a mentor comes into play here as we must come from a place of grace and tolerance when providing guidance. Mentors must be forever understanding, compassionate, and patient. A mentor must keep in the forefront of his or her

As a mentor, I do not get to just blindly tell someone what to do. Mentorship involves listening, asking open ended questions, challenging the mentee, and championing them toward change. mind that not everyone learns the same way and must be consistently thinking of ways they can deliver information, education, and suggestions that will best serve their mentee. When working in conjunction with women in recovery from addiction that face an incredible number of hurdles to overcome, it is particularly important to be mindful before giving any advice. Being a mentor also requires being cognitive of their mentees frame of reference. In effort to help someone through any type of situation or challenge, you must understand their past experiences. As a mentor, I do not get to just blindly tell someone what to do. Mentorship involves listening, asking open ended questions, challenging the mentee, and championing them toward change. People seeking mentorship have most often come from an environment where they have learned some behaviors and perspectives that are just not working and often just lack the ability to move in a forward direction without additional support. It is only when a mentor understands all facets that a mentor can discern the best guidance, suggestions, and paths to moving forward.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

Y O U S T I L L N E E D A C O M PA S S E V E N I F Y O U H AV E A M A P

"A mentor is someone who allows you to see the hope inside yourself" -Oprah Winfrey To be an effective mentor, one needs to be acutely self-aware which lends to being proficient at reading people and be equally prepared as a mentee to be completely vulnerable. As a mentor, I have a personal responsibility to be open and honest about my own experiences, personal and professional, and successes as well as failures in effort to convey the gravity of how anyone, from anywhere, that has or needs to overcome any situation, can in fact take that journey and arrive in a place where they find peace, restoration, success, growth, whatever their defined “IT” may be. Mentors must also be prepared to be completely honest with their mentees to discuss with them candidly processes or thought patterns that may need changing. I consider it of paramount importance to be able to do this; otherwise, as a mentor, I am not being of service to my mentee. The relationship between a mentor and mentee needs to be one in which both meet as equals and experience shared on a continuous basis encouraging close support. In this relationship, both parties gain strength, the mentor by giving and the mentee by receiving the knowledge. I am a firm believer that I must give it away to keep it. Additionally, mentors need to be a consistent source of encouragement and need to refrain from imposing their personal views. The way I see it, I should be providing my mentees with a toolbox and teaching a mentee how to rely on and

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use those tools, to not just rely on me as their mentor. I refer to this as giving them the wings to fly. Also, a mentor needs to show a continuing interest in a mentee’s success; there is no destination that one arrives at, we are always a work in progress. When you are looking for a mentor, there are some important things to consider. First, it should be someone that you feel you can be comfortable with and can speak freely with, because, the truth is, the process will only be as effective as what you put into it; mentorship is a two-way street. Next, it should be someone you can turn to without fear of embarrassment with your doubts and questions. You would be wise to select someone who you have seen demonstrate what it is you are looking for, mentorship with, and upon speaking with them ensure they “walk the talk.” You may find a mentor that can provide general direction and a new perspective on just one area of your life or many. All you must do is to be willing to ask. If you would like any further information on this subject or have any questions that may be of a more specific in nature, please do not hesitate to contact me at Lysa@everwisegroup.com.

Lysa Nelson is a Mortgage Loan Advisor and Real Estate Agent residing in Southern California. Her career spans over 25 years in the mortgage industry, beginning as an escrow assistant. In her journey, she has held positions in every sector of mortgage operations, allowing her to have an in-depth grasp on the entire loan process. Eventually she worked her way into executive management as Vice President of Operations for both Countrywide Home Loans Wholesale division and Vice President of Operations for Bank of America retail division. She is currently in the process of obtaining my brokers license and is getting ready to launch her own company and brand which will be all woman-owned and operated.

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Q&A

Recruitment

Question #1

Holly Strange SVP Wholesale Operations

What is your number one tip for recruiting during this remote environment?

The biggest lesson I’ve learned during this year has been to make your time with candidates count. Do your homework ahead of time, ask direct questions, and listen. There is a lot to sell besides a competitive salary, so it’s important to be prepared. Take your time, don’t rush the process, and remember that this is a first impression call. Without the in-person interaction, it’s difficult to exude passion, trust, and care so it should be reflected through your voice and expression. Be present and interactive with the candidate to show you are interested and fully engaged. Recruiting remotely, I tend to ask more questions during the interview process, such as “What kind of work culture do you thrive in?”, to vet their experience level and work style. I try to open that communication door so that they feel comfortable talking to me. Right now, it’s more important than ever to develop the relationship with that first interaction, because there are so many other lenders reaching out to recruits that you’ve got to make a connection right off the bat. This is your chance to be the differentiator.

Question #2

Allyson Foley EVP National Fulfillment

What’s been the biggest recruiting advantage during this new normal?

Before the pandemic, we were limited to recruiting for our Utah and California regional operation centers and only had two office locations for our team members. This limited the ability to spread our wings and truly grow to our full potential. Once the work from home abilities were established, it opened so many new doors and allowed us to recruit nationwide. Now we have access to a vast array of skillsets and levels of experience that were previously off the radar. From a recruiting standpoint, it’s beneficial to expand our footprint and be present in new markets. Our underwriters used to be the only ones who had the ability to work remotely, but since that commodity has been expanded to every role, we’re now able to broaden our horizons and bring in a wider variety of great people to help our company grow.

To learn more about Stearns visit us at StearnsWholesale.com or follow us on LinkedIn and Twitter.

Question #3

Tammy Silver Underwriting Manager

What has been the most rewarding aspect of recruiting in today’s virtual reality?

Being able to provide so many new positions in a struggling job market energizes our efforts and is a daily reminder of opportunity and growth. In addition, it’s fulfilling to see new recruits come on board, evolve in their roles and achieve their goals under these new remote work guidelines. Starting these new hires off in an industry that has faced uncertain market conditions throughout the year has brought many challenges, but by guiding and instilling in them the potential of this opportunity and the importance of their role lets them know that they have a career that is in high demand, which is extremely rewarding. We have a team here that will band together during tough times and find a way to come out even stronger and succeed. It’s been a huge reason why Stearns achieved so much growth this year despite the unfortunate circumstances. Our mission at Stearns Lending is to help get borrowers into their dream homes and to be able to successfully achieve this despite the economic turbulence we’ve faced this year helps make everything we do here worth it.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

WOMEN MENTORING WOMEN: FIVE S TEPS TO M A X IMIZE YOUR L EGACY

n e m o W g n i r o t n e M n e m o W

FIVE STE PS TO MA XIM IZE YOUR LEGACY

BY L A I L A K H A N

Mentorship is an incredibly valuable relationship that can change your life; and likewise, by giving a little of yourself, you can change someone else’s life. 22

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ne of my first mentors was my mother. She is a retired professor of English Literature and Library Sciences. I remember her dragging my sister and me from one university campus to another campus as she studied for her master’s degree or as she taught classes. We would spend hours in the library, cafeteria, and student union, playing hopscotch and video games right outside her classes. Afterward, we would come home, and my mother would go straight to the kitchen, make dinner, and then sit us at the kitchen table and go over our lessons for the day. My mom was my super woman, and every time I had challenges, I would absorb all of her direction and guidance. Her words of wisdom, hard work ethic, and persistence for success and survival gave me the tools to weather any storm ahead, and I remem-

ber feeling so fortunate to have her in my corner. I still do, so many years later. This is what mentorship means. Back in the day, when I used to think of mentorship, it wasn’t something I wanted. I would envision someone much older, set in their own ways, imposing their methodology on me. The idea of having someone break down my goals and assess my career path

CHALLENGES AND SOLUTIONS W ITH EMBR ACING NE W TECHNOLOGY

WE ARE HABITUAL PEOPLE, AND, IN A COMPLICATED FINANCIAL WORLD, CONSISTENCY BRINGS COMFORT.

was stressful; it felt a lot like parenting or micromanaging. Thinking back, it just makes me realize that my whole perception and understanding was wrong. I was being mentored and I didn’t even know it, and I am still benefiting from it today. I have a handful of mentors in my life, and even today, every now and then when I’m in a bind, I call them up and use them as a sounding board. Mentorship is an incredibly valuable relationship that can change your life; and likewise, by giving a little of yourself, you can change someone else’s life. I grew up in a time where I didn’t actually see many female leaders or have many mentors easily accessible. This makes female role models even more valuable. How incredibly valuable are those female mentors

who showed us what is possible. How incredibly valuable is the opportunity to do the same for tomorrow’s female leaders. Here are five steps to maximize your legacy through mentoring women:

1. Recognize you have so much to offer. Yes, YOU. No one is short of providing value and contributing to the betterment of others. Everything someone has taught you is now a part of you; you have gathered all of these gifts and consolidated them in a way that is completely unique. Your set of experiences is also unique. Together, everything you have gathered and learned can shed light for someone else.Women often take their achievements for granted, but

as you start sharing, you realize just how valuable your history is. What we owe in return to our role models is to pay it forward. Share those stories with someone who needs to see that their efforts will pay off someday. Offer advice to someone who is struggling. Listen to someone who needs a sounding board. Value the gift that you are now in a position to be a role model and support someone else’s growth. As you lead by example, they will pay it forward as well.

2. Mentoring doesn’t have to be a one-way street. You will find that as you open your heart, it can benefit you as much as it does your mentee. Mentorship creates

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

WOMEN MENTORING WOMEN: FIVE S TEPS TO M A X IMIZE YOUR L EGACY

a community that consists of more seasoned colleagues, leaders, younger colleagues, and industry peers faced with challenges just like us. If you’re mentoring someone younger or from a different space, there is a mutual benefit as we look through each other’s lenses and exchange ideas from our own perspectives. I find that when I set out to help someone, I end up learning valuable insights from them as well. Whether or not you set out to form a collaboration, that is what it often becomes in the end. Our diverse experiences provide an authentic and mutually beneficial pathway to excelling in our spaces and expanding our networks.

3. Chemistry is important When seeking a mentor or taking a mentee under your wing, it’s important to gravitate to them naturally. You have to have a good vibe and comfortable feeling when connecting so you can both open up to sharing goals, achievements, and vulnerabilities. It is worth taking that risk to open up to another person. Mentors can provide critical guidance in breaking down the barriers we build up in our own heads; barriers that cause us to not see our full potential. Looking at ourselves through some-

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one else’s eyes can equip us with the ability to transcend our own expectations. The benefits are invaluable. As a mentee, ask your leaders to evolve and broaden their horizons. As a mentor, see your mentee’s strengths that they might not know they possess and provide the honest, positive feedback that is all too rare. Show women what they are capable of achieving.

4. Do not gate-keep your connections Networking is critical in today’s world. We each have a unique network, and that's an incredible resource for your mentee. Make your network accessible so that your mentee can benefit. Empower her with invitations to speak and attend exclusive events, write for publications, meet industry leaders, and make meaningful connections. A selfish benefit for you is that it takes the pressure off of you to provide your mentee with everything she needs. They can use new opportunities as a springboard to gather all kinds of knowledge and opportunities, which they can use to advance themselves. As you make those connections, be mindful and deliberate in pairing people together. This is an area where a small effort can have tremendous effects. One connection you make,

perhaps at no cost beyond the time it takes to send an email introducing two people, can change the trajectory of someone’s future. Don’t be shy to ask your mentee to share her connections as well. There are many obstacles each of us must overcome, and mentors can be helpful in creating relationships, building networks, and inviting you to participate in exclusive forums. As a mentee, understand that mentors are taking a risk in putting forth your name. Appreciate the responsibility as well as the opportunities it brings. This effort on your mentor’s part provides priceless opportunities for you to demonstrate your ability to perform and deliver.

5. Have your mentee’s best interest at heart Your mentee’s success is your success, and her growth is your legacy. What an incredible truth to really internalize. Your legacy is not limited to your own actions; it extends throughout future generations via anyone you touch and anyone with whom that person shares what they gained from you. As a mentor, we have to have our mentee’s best interest at heart. Mentorship conversations are often raw and honest, and trust is essential. When

WOMEN MENTORING WOMEN: FIVE S TEPS TO M A X IMIZE YOUR L EGACY

someone is headed in the wrong direction, provide clarity and direction. By the same token, see her potential and point that out as well. Good mentors don’t have to have all the answers; simply offering unconditional support is an invaluable benefit, especially during turbulent times. Mentorship is a true and genuine relationship that flourishes through time and experiences. During a time of challenges, it’s more important than ever to resist the instinct to scale back and retreat into ourselves. Instead, think about broadening your impact. Current times offer incredible potential for us to move forward and reconfigure the scene with which we’re faced. Sir Isaac Newton said, “If I have seen further it is by standing on the shoulders of giants.” To everyone you uplift, you are that giant. In that role of a giant, enable others to benefit from whatever knowledge you have gained. Expand your influence and impact through mentorship and watch your legacy grow.

The Best Advice Changing someone’s life through mentorship is altruistic in a way, but it benefits you as well. It maximizes your legacy in building and empowering women (and men!). Every time we give back, we give a little of ourselves, and before you know it, your contributions have turned into an impactful force, benefitting so many other people. We have to make choices about how we will spend our time. Time is a valuable com-

modity. But allocating some of our time and effort to mentor others is an investment that will last far beyond many of the other activities we do in the course of a day. We can make a mark on the people we touch, on the future. In short, while providing support to others as a mentor, open yourself up to the possibility of being a mentee in this journey called life. Put your best self forward and don’t shy away from the hard work that comes with it. When you invest in a project or effort, add value and own your work. Ensure it’s something you are truly proud of, and autograph it with your unique signature. Always take a few moments to reassess and recalibrate frequently, and be the giant for someone else. Laila Khan currently serves as the Assistant Vice President of Marketing and Communications at Guidance Residential. Laila is active across the industry in organizations, as a speaker and as a contributor to publications. She’s been recognized as a Top 20 Sales, Marketing, and PR Trailblazer, a recipient of the MBA Diversity and Inclusion Scholarship, and was recently awarded the 2020 Women With Vision Award from 20/20 Vision Coaching. Laila lives outside of Washington D.C. with her husband and three children.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

THE POWER OF WOMEN MENTORSHIP

THE

POWER

WOMEN

MENTORSHIP

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BY S A M V E R M A

THE POWER OF WOMEN MENTORSHIP

hen Kamala Harris was elected vice president of the United States, the world saw the enormous glass ceiling being shattered. In her historic acceptance speech, she said, “I may be the first woman to hold this office. But I won’t be the last.” Those optimistic words are what will inspire many more women to follow suit, not just in the political milieu, but in general, to assume positions of power. That is also likely to happen sooner with NASDAQ too pushing for the more than 3,000 companies listed on its U.S. stock exchange to make their boardrooms more diverse and less overwhelmingly male. These companies would require at least one board member who self-identifies as female and one who self-identifies as either an underrepresented minority or LGBTQ. These developments strongly echo an often-discussed subject: we need more women leading in so many different areas, from politics to the corporate world. This is important because it is women in positions of power who can offer other women mentorship opportunities that are otherwise not as easily available to them. As the founder and CEO of my own company, as well as the mother of an ambitious young girl working hard to climb the corporate ladder, I am passionate about helping more women step into mentorship roles. While going through some online research surveys, I recently came across a study that pointed out there is a distinct gender discrepancy when it comes to American mentorship: 82 percent of men have had male mentors, while just 69 percent of women have had female mentors. While workplace gender discrepancies are not

something that women created, I believe we can actively contribute to finding solutions. Thinking about my own legacy, I’m committed to exploring the difference women-led companies can make to the corporate sector and how women can better facilitate a gender power shift. I have been extremely privileged to work closely under the leadership of a feisty woman CEO. When I started out in the mortgage industry, it wasn’t easy being a woman of Indian origin in a male dominated industry. But it was my then boss who helped me navigate the landscape of my career. In those days, of course, the word “mentor” wasn’t that common, but unknowingly I looked up to her as that. I have always believed that mentoring is an effective strategy to close the gender gap in leadership across industries and sectors around the world. As a woman leader who is committed to working toward a more equal world, I am always excited to be a mentor whenever and wherever needed. Whether it is women within our own company, among our partner companies, our vendors, or in any area in our ecosystem, I am only too happy to show them the right direction, counsel them on work-life balance, and help them handle the vagaries of a demanding job. I also feel that a significant part of mentorship is about educating through our own stories, our own successes and failures, and setting expectations illustrated by experience. By sharing our own narratives, we invite others to do the same. I, for one, have ample experience to share on the tight rope walk of balancing professional and personal life. I cannot overstate how important it is to find the right median between career and family. Thankfully, for me, a large part of the way my career has shaped is due to the unflinching support I received from my husband and my daughter. MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

THE POWER OF WOMEN MENTORSHIP

I still remember the early years when I other women. This is all the more important in an indushad just started my company. I would often try like mortgage lending that has been trarequire to travel for work, but since we were ditionally male dominated with primarily men on a shoestring budget, it was a challenge to at the helm and women gravitating towards find the right kind of places to stay. It was my more supportive roles such as operations, husband who happily shouldered the responcustomer service, quality control, and complisibility of finding the best deals for places that ance. However, in the post-2008 years, there were safe and comfortable given the conhas been a paradigm shift in the industry. straints. Today, more firms are looking at customIn those days, work was extremely deer service by offering custommanding. But my husband ized experience through a and I had made this unMentor relationships, higher level of professionalwritten rule that we would ism, integrity, communication, spend the evenings with especially if a woman and a goal to take a personal our daughter, most often, interest in each clientâ&#x20AC;&#x2122;s unique is mentoring other helping her with her homerequirements. Interestingly, work. It was a sacred time women and most of these are inherent and I valued it so much that character traits often associencouraging them I would ensure I refused ated with women, which is work calls during that time. to eventually do the perhaps why the industry now The result, though, was has more women in senior same, can serve as that I would have to receive management roles. Mentor the calls later, sometimes a cornerstone for a relationships, especially if a while I was making dinner close-knit professional woman is mentoring other which meant, I often ended women and encouraging them up burning dinner because network to eventually do the same, the call would last too long. can serve as a cornerstone While I recall this in jest for a close-knit professional now, I know it is the incredible support of my network, with a host of benefits: access to family that has helped me reach where I am leadership, advocacy at higher levels, and today. mutual support. So, yes, I have been lucky to have been In the several years I have spent in the surrounded by supportive people and the mortgage industry, I have noticed that far too process has taught me so many things. But many women work in isolation, sometimes itâ&#x20AC;&#x2122;s important to be able to pass on my learnbecause they do not have the right mentors. ings to other women who can gain someThis is why I always believe in encouraging thing out of it. One of the critical aspects to female leaders to mentor other women, simbecoming a leader in a corporate setting is ply because no one does it better. In order to the social access and business opportunisuccessfully mentor women, we need to have ties that come with one-to-one mentorship. a voice, take our right place on stage, and This means women in power positions need publicly show our interest in mentoring, while to leverage that power to mentor and uplift

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THE POWER OF WOMEN MENTORSHIP

promoting more female representation at the enthusiastic about female mentorship than the leadership table. one preparing to enter the workforce today. This is exactly why I am actively involved At a time when quality has taken the place in the work of National Association of Minority of quantity, women hold a distinct advantage Mortgage Bankers of America or NAMMBA since more organizations want a workforce as a Visionary Ambassador. NAMMBA is a that possesses the expertise and experience national trade association dedicated to the to deliver what consumers need and want enrichment and betterment of minorities and most. I feel that women have a huge opportuwomen who work in the mortgage industry. In nity to capitalize on the social and emotional my role, a very important focus is to increase aspect of teamwork through the engagement of women in leading by example. the mortgage banking inSo, I believe that all the dustry at the local, state, and What encourages me women who are in leadernational levels. But then, mentoring does now is that there has ship positions must ensure that their team knows they are not really have to be a formal agreement. Personally, some never been a generation happy to spend time mentoring of my successful mentorany of the women who need it. more enthusiastic about If required, you can even work ing relationships have been very informal. The key was female mentorship than with your human resources that each time I had the best team to set up an in-house interests of my mentees at the one preparing to mentoring program. heart. I wished to invest in After all, while it is importheir success and wanted to enter the tant to have a great support at present them with seminal home, women also need it at workforce today advancement opportunities their workplaces. And the best within the organization. I have ones to offer that support are realized the importance of the other senior women who this because not only has it have navigated thorny professional paths that helped the person I was mentoring grow and involved moving up in male-dominated orgaadvance more effectively, but it also laid the nizations while juggling the responsibilities of foundation for a valuable professional nettheir domestic roles as mothers, wives, daughwork that could ultimately benefit all women ters, or other caregivers! within the organization. Moreover, it does not really take too much to just do that little bit of handholding. By takSam Verma is the CEO at Peoples Processing and is a ing the time to ask an employee how theyâ&#x20AC;&#x2122;re mortgage industry veteran of 25+ years of experience. doing, we can enhance the health and resilShe brings institutional-level loan servicing experience. ience of each employee as well as an entire She spent two decades originating mortgages and/ team. or managing origination teams and is a go-to consulWhat also encourages me now is that tant that advises mortgage processors on how to work there has never been a generation more smarter to drive down costs and close loans faster.

MORTGAGE WOMEN MAGAZINE â&#x20AC;˘ JANUARY/FEBRUARY 2021

FINDING YOUR FEM AL E T RIBE

FIN DING YOUR FE MALE

Tribe

BY R H I A N N O N BO LE N

The "Power of the Pack"! Isn't that what they say? "Find your Tribe" or "Engage Each Other". These quotes refer to a communal approach to navigating through whatever is happening in your life. They speak to the importance of working collaboratively and supporting each other as a team. 30

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This is all very important for everyone in the business world to know how to do. But what specific benefits can be derived when women proactively place emphasis on supporting one another? In a recent Harvard Business Review article, research results indicated the importance of "centrality" for both women and men that is correlated to being successful, BUT that women often maintained a closer knit inner circle of female contacts of one to three people. The research further indicated that women in the top quartile of centrality that had a female dominated inner circle were 2.5 times higher in authority and pay than those that lacked this type of inner circle. It is understood that women face cultural and systemic hurdles that our male counterparts do not. This is not debatable - BUT it is also known that, as women continue to find their voice, they are doing it because they are building a network that faces similar challenges and utilizing their network for

FINDING YOUR FEM AL E T RIBE

progressing their careers - either by being supported or providing support to those in the network. I have been a direct beneficiary of being raised by a strong woman in the mortgage industry. I watched my mom struggle through the ranks of large financial firms through the 70's, 80's and 90's. At the very beginning of her career, it was even legal for a husband to pick up a wife's check and she really had no option to get her paycheck directly! My how far we have come, though, that really was not that long ago! I also had a father that was always supportive and believed that women and men could do the same things with equal success. I watched as my mom grew into leadership and executive roles and absorbed how women that she worked for and women that worked for her flourished when they received support from other women: strong guidance and clear expectations but with empathy offered in the unique way that women often provide.

So, for me, this was the foundation for when I entered the workforce and eventually into the mortgage business. I have been in the mortgage business now for over 20 years. I started out in supporting roles and through demonstrated work ethic and professionalism, I have carved out a solid reputation for myself and served in roles that gave me the opportunity to learn and grow into a leader. What I discovered along the way is that not all women had the kind of foundation that I did. Over the years, I saw women that were afraid to be direct, scared to ask for promotions or money, uncomfortable using their voice, or not confident in their abilities, and subsequently may have struggled with advancement within our industry. I saw an opportunity to create an environment where women could put "centrality" into practice and discover the benefits of women supporting other women. How can you be expected to climb the ladder if you are not familiar with how to present yourself, how to ask the right questions, how to identify what you want, or even to get sage

MORTGAGE WOMEN MAGAZINE â&#x20AC;˘ JANUARY/FEBRUARY 2021

FINDING YOUR FEM AL E T RIBE

advice when you face challenges that are perhaps keeping you from achieving your goals? I have had the good fortune in my career to be in roles that supported involvement in our industry, and I have been privileged to be involved with various associations in the mortgage industry, probably most notable with the Texas MBA. Our association is no different than many others in our industry in that in our over 100-year history you can count on one hand how many female association presidents we have had. HOWEVER, in our most recent history, we have been very fortunate to have a handful of some very dynamic females that have led our association. In 2018, I presented the opportunity of creating a women's networking group to our then female president. From the very beginning, she was supportive of the idea and allowed me to run with it; thus, beginning the women supporting women approach at our association. The Texas Women Mortgage Bankers was formed in late 2018 with a mission to "To promote the furtherment of women in the mortgage industry in the state of Texas. The TWMB will strive to provide opportunities for women from all aspects of our industry to network, engage, learn, and grow in their careers, and in life." What we intended with our mission statement was to reach women that otherwise would not have the opportunity to engage in other women's groups outside of their local state association. With the reach of the Texas MBA, we began holding events in conjunction with the three major events that are traditionally held through the state by the Texas MBA. We focused on providing opportunities for women to engage and connect, not just women in outside sales but processors, underwriters, closers etc. that otherwise may not typically travel away from their offices. We were intent on focusing on career empowerment, conflict resolution strategies, interoffice interactions, leadership, and oh! and supporting one another. During at least half of every one of our events, we offer the opportunity for our participants to engage in "Open Forum Roundtable" discussions, during which we dissect specific topics of focus, allow table participants to share and discuss challenges, best practices, provide advice, give guidance, and more. The result was powerful! There have been tears and laughter, stories and sagas, and real and

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meaningful connections. We left these events energized and ready to take on the world! From the initial onset, we set out to provide relevant ways for participants to engage, but also saw an opportunity to connect women, who may not have had the same kind of foundation as I did, with direct interaction with a mortgage female with which they could connect and support one another through our "mentor matching program" with the TWMB. Women that were looking to grow in their careers, just entering the mortgage business, new to being executives, or even looking to slow down as they move towards retirement had the opportunity to learn from other women within our group. We created a LinkedIn page where we share articles, ideas, and positive vibes! The power that we have been able to harness because of supporting each other through this initiative has been moving and heartfelt. The ladies that have dedicated their time and talent to help this group grow to the over 150 women that we now count as part of our tribe have become my own "inner circle". I count them as invaluable to my own career, as I am sure many of them would agree. When women support one another, we help each other grow. When we freely offer advice, guidance, and allow ourselves to be vulnerable with each other, the resulting outcome takes a powerful turn when we, in turn, engage in our own career initiatives and life objectives. I could not be prouder of our little tribe that has grown into a force of nature in our local state industry. I also could not have done any of this without my own supportive husband who, much like my dad, has been my number one fan along the way. Behind every strong woman is a strong man. And with the example of my mother, I have had the good fortune of finding my own voice and learning the importance of supporting other women. Rhiannon Bolen, AMP is known as a trusted advisor in the mortgage industry having served in various capacities in outside, business to business sales and sales management roles for close to 21 years. She is a longtime board member of the Texas Mortgage Bankers Association and has served as the committee chair for various committees for the past 10 years. Rhiannon is also the founder of the Texas Women Mortgage Bankers Group (or TWMB) - which is a subset of the Texas MBA. She is a former President for the Dallas chapter of NAPMW as well as a Past President of the Dallas Mortgage Bankers Association.

You’re invited! Live, in person!

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MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

THE CHALLENGES OF WOMEN MENTORING WOMEN

The CHALLENGES of Women Mentoring Women BY C A S E Y H U G H E S WA D E

www.MortgageWOMENMagazine.com

THE CHALLENGES OF WOMEN MENTORING WOMEN

love the topic of mentorship. In my own life I’ve had several mentors who’ve been formative in my personal and professional development. These experiences have impacted me so much that I’ve embraced the opportunities to mentor other women for most of my adult life. As a mentor I’ve seen a particular pattern of thought and behavior emerge repeatedly, a pattern with which I am intimately familiar, and which holds us back from being our best selves. The fear of failure, insecurity in the quality of our work, and the reluctance to advocate for ourselves too often holds us back from demonstrating our abilities. We live and work in a culture which, despite significant progress in workplace equality, still retains vestiges from the 1950s, when modesty and submissiveness characterized the “ideal woman.” As women in the workforce today, qualities such as these do not serve us; in fact, they hold us back from excellence in our work, and passionately advocating for ourselves when our work product or our ideas deserve it. Broadly speaking, men do not share these inhibitions

and it is one of the primary factors that separates men from women in the workplace. Taken together, these factors contribute to the false notion that we have nothing meaningful to contribute

We live and work in a culture which, despite significant progress in workplace equality, still retains vestiges from the 1950s, when modesty and submissiveness characterized the “ideal woman.” and disinclines us from being mentored and mentoring other women. When I sat down to write this article, my mind was flooded with ideas, some funny anecdotes about being a woman in the mortgage industry, but perhaps most surprisingly, I was washed over by a wave of emotion. I kept returning again and again to the same logical, but emotionally infused question, “What could I contribute in a meaningful way to the topic of mentorship?” This general

question is not unfamiliar to me, and in my personal experience and in my discussions with other women in our industry, I have found we often ask ourselves this same core question in one form or another: What do I have to contribute? As a woman earlier in my career I would find myself intimidated by tasks that prompted this question. Afterall, the mortgage industry abounds with seemingly competent, self-assured men who never seem to doubt their abilities or what they must contribute. But each time I was called upon to contribute, I discovered that not only did I do a pretty good job, but also that my contribution was often different than those of my colleagues; often it was exactly what the project needed most. My instinct and knowledge added energy and newness. So today, when I find myself asking what I can contribute, I do exactly what I did before writing this article. I pause, I take a deep breath, and I connect to the truth that my perspective as a woman is important and frequently desperately needed.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

THE CHALLENGES OF WOMEN MENTORING WOMEN

How To Be A Mentor: The Basics The secret to mentoring other women is simple: GIVE. BE A GIVER. GIVE AWAY the knowledge that you have learned through hard-fought experience. Give your time, your ideas, your feedback, and, if need be, even your clothes (that actually that has happened to me once). Give it all away. Even if it’s just in five-minute increments every day, or an hour a week, or one call a month. Give what you have. And we all have something important we can pass on to someone else; it’s called our experience. Give your experience away. It’s my hope to communicate my experience to you as I would any friend who came to me seeking advice on mentorship. After reading this piece, I want you to feel empowered to give back or to seek knowledge without fear or self-doubt, regardless of your experience. LADY— YOU ARE WORTH IT!! Every relationship has unique aspects and the same is true with mentors. Being a mentor doesn’t have to be a strict, formal agreement between two people. You can mentor someone in the moment, without them asking

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and without it taking a bunch of your personal time. So yes, even the working mom with siix kids, a husband, a dog, and three cats can be a mentor. This is my favorite type of mentorship, mentoring in the moment.

If you have years of experience in a certain area or are just naturally really good at something and you see another woman struggling in the moment or know you can help her level up. JUMP IN! I’m sure you are thinking, “that’s crazy. I can’t just jump in and offer my two cents.” No, actually you can. If you have years of experience in a certain area or are just naturally really good at something and you see another woman struggling in the moment or know you can help her level up. JUMP IN! This type of opportunity for mentorship happens almost every day. And it gives us the opportunity to contribute to a lot of women at different stages in

their careers. Some of my favorite mentoring moments have been over dinner, catch-ups at the end of the night after a conference, girl-talk in the hotel rooms, in the office after a big meeting or on prospecting visits, and at sales rallies. There have been times I had no idea I was mentoring other women until they acknowledged me months and even years later for helping guide them through an important time in their lives or careers. Sometimes they asked for my advice and other times I just offered it up freely. But I was giving them my experience in an area in which I had more knowledge or experience, and that was valuable to them. Even this is mentoring. I never leave these conversations judging the other woman’s perspective or skill set. I want to contribute to another female because of my commitment to empower other women and to teach them something. I wish someone would have taught to me. OR maybe someone did, and it felt good to give that knowledge away. This is where the point of departure from just being a coworker or a friend it, and instead being a mentor. It’s the commitment to sharing

THE CHALLENGES OF WOMEN MENTORING WOMEN

our experience to benefit another without judgement or expecting anything in return. Your position and title are the least important factor in this equation. You can mentor from above, below, or next to your colleagues on that org chart. You can be an intentional mentor through planned discussions. Or you can be a mentor through your daily interactions. Standing tall with integrity. Giving the benefit of the doubt. Or one of a dozen other ways. You never know who might be watching and looking for an example (aka mentor) of knowledge, balance, and ethical decision making. And the fastest way to become a fraud is to fall into unprofessional or unethical behaviors. Gossip. Catty comments. Manipulation. These cannot be part of a mentor’s toolbox and are only recognized through thoughtful self-reflection. Lastly, an¬¬¬ inability to communicate with empathy will quickly put an end to any good works previously accomplished. No one gets it right the first time. So be prepared to see yourself struggle at creating a mentor-mentee relationship.

You will be learning at least as much as you are teaching. You will be practicing what you believe to be the best parts of you and it will be watched. Evaluated. And maybe even criticized. But the relationship is about communication. Offering a kind word when you are thumping your palm against your forehead and wondering what they were thinking is like gold. The reminder that “this too will pass” and that embarrassment or failure only feels like it will kill you will be required.

Get Started Here is your call to action. Commit to being a woman of substance. Reach

outside your cubicle (or home office, as it may be) to someone who is open to growing in the industry. You will know them when you meet them. Look for spark of energy and hope, a willingness to learn, and move past your fear and self-doubt. Keep it simple at first. Trust yourself. And give, give, give. Casey Hughes Wade is known for her social media presence on LinkedIn and is currently Vice President of Mortgage Relationships at SLK Global Solutions, a leading provider of digital platforms and business process management solutions to the banking, mortgage, and financial services. She has extensive mortgage experience and in-depth knowledge about technology and automation.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

PAV I N G T H E WAY

PAVING THE WAY

with

A n In t er v iew C a t hleen S chr einer Ga t es and Pam F aulk ner BY A N D R I A LI G HTF O OT P M P, C S M

his article fulfills my long-standing dream to interview industry giant, Cathleen Schreiner Gates. Cathleen is currently the president and advisory board member to SimpleNexus, and I first came to know Cathleen while she was EVP, sales and marketing at Ellie Mae. As the inaugural recipient of the NEXT Powerhouse Awards, it is no surprise that I have referred to Cathleen as the “Oprah” of mortgage technology due to her larger-than-life presence, way of reaching back to others, and focus on mentoring female leaders within the industry. I asked Pam Faulkner, director of Mortgage Solutions at SimpleNexus to join us in our conversation around the importance of mentoring and giving back.

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Housing Wire named Pam its “2020 Woman of Influence,” and full disclosure, Pam and I were both part of the EMerge Women’s Leadership foundation Cathleen founded during her time at Ellie Mae. A powerhouse in her own right, Pam has influenced product and mortgage trends as well as many mentees during her illustrious career. We sat down to discuss their experience mentoring over the years in a candid “Q&A” style format. Their responses ignited within me a renewed passion for giving back. Regardless of the stage you are at in your own career, mentoring is a worthwhile endeavor that impacts both the mentor and the mentee. To mentor, we practice using our emotional intelligence, emphasizing one-on-one dialogue, focusing on empowerment, and relationship building. For mentees, a good mentor will support, guide, and believe in our potential, seeing in us what we cannot yet see within ourselves. Below is a masterclass from two industry standouts. – Enjoy.

PAV I N G T H E WAY

C AT H LE E N S C H R E I N E R G AT E S PA M FAU LK N E R

ANDRIA: Do you have a mentor in your life that really stands out and what do you most remember about them? CATHLEEN: I've had several, and they’ve been monumentally impactful to me, but if I think about the characteristics that made them so impactful to my career; there are two important things. The first is safety: feeling that I could bring up any topic, that the person respected me. Experts talk about high performing teams needing psychological safety, but I think mentoring needs absolute safety because you are ideally bringing in issues that could be very controversial. It could be about political dynamics in your organization or where you feel vulnerable or weak or ill prepared for a role, etc. The second one, which I don't think many people really understand at the level they should, is perspective. It's great to have someone that says, okay, you know, you're overreacting or you're too focused, or let me

give you some reads from other people I work with. PAM: I think of empowerment, to speak your mind! Empowerment to talk about your emotions and feelings as they relate to facts and having that person be honest back with you and tell you you're right or wrong while being direct about it, but you know, fair. And the number one on my list was trusting this person. Is this person trustworthy? Trust links back to the safety factor. Is this somebody with which I can bring up very controversial topics? And trust them not to, you know, take it, where it doesn't belong. ANDRIA: Cathleen, you started a women’s leadership program during your time at Ellie Mae, and it was hugely impactful for a lot of women in the mortgage and technology space. What was the catalyst to starting that program?

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

PAV I N G T H E WAY

CATHLEEN: At the time, I was working with HR and other leaders to launch a program, but my fear was that if it were top down, people would feel obligated. So, I kept my ear to the ground, and a couple of women engineers came and knocked on my door and said, “You know, I've been part of a ‘lean in’ organization, we have some ideas.” I said, “Great! I am your Huckleberry. Tell me what you need!” And the big thing we did was a design thinking session, so that the very women that it would impact were the designers of what the program would looks like. The women who designed the program were the ones who articulated what they'd been experiencing. We immediately opened the program to everyone. Since we had a huge high-tech presence, we had a lot of people who had immigrated here to America. Without role models in American corporate culture to emulate, they didn't know how to advocate for themselves. It was a big factor for us to make sure that we had diverse representation. Even though it was inclusive, we never lost focus that the reason we were doing this was to give voice to folks that didn't know how to really be a part of the conversation. It’s fair to say the lion’s share of those that benefited were women. PAM: It was one of those things that took off so quickly! It brought voices to the table that never really felt like they had a voice, because they felt like they were so immersed in their job, that being able to be heard, outside on something else, wasn't key to them. I watch people who normally were kind of, you know, shy and not always as boisterous, come up with great ideas. The mentoring program influenced the way that they interacted with their peers. It was amazing to watch that happen. ANDRIA: How does a woman looking for a way to connect and find a good mentor early or later in her career go about finding a mentor? CATHLEEN: I think a lot of people think there's a perfect mentor out there. I think you need to

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find mentoring inside your own organizational construct because you need someone who can give perspective on what you're experiencing. But I think it's also very valuable to have someone outside your organization. Don't think that there is one end-all, be-all mentor; think about what you're trying to accomplish and then go after what you need. If you're waiting for this perfect program to come along, you're potentially going to be very disappointed. However, so many mentoring opportunities are out there if you simply ask. If there would be one thing, I would leave people with, it would be, don't wait for the program! Don't wait for permission. If you've identified someone that you think can help you, say “would you mind mentoring me?” If you approach someone, 99 out of 100 times, they will say yes and feel honored. My best mentors were my bosses. So, I was one of the lucky ones that I had really balanced, intelligent, bosses that sort of brought me along. Not everybody gets that. If you don't have it, find it! If you want it, ask for it! PAM: Look to your personal relationships. I still go back to the gentleman that I followed in the mortgage industry for 10 years. Even today, I'll call him out of the blue to ask him questions to get an outside perspective. Having that personal mentor as well as the business mentor is important. All of us need work, but we also need somebody that we can really talk to and get sound advice from. ANDRIA: Share with us a success or failure while learning to mentor others. What did you learn about yourself and about mentoring in that process? CATHLEEN: I think if somebody is in your management structure, you're naturally mentoring. I learned a lot from folks came to me from way outside my organizational hierarchies. I had a male engineer come to me and asked me for mentoring. I thought, “What does he think I can

PAV I N G T H E WAY

offer?” I asked him to complete a one-page summary of where he’s been, who he is, and where he’s going; an exercise I completed many years ago. Over the years, I converted that a little bit. Since then, before I start a mentoring relationship with anyone, I give them this one-page framework and say, “Come fill this out. Talk to me about who you are as an assignment.” What I found is that people underrate their accomplishments and don’t understand their brand or what their impact could be. The exercise helps you to rip away all the posturing and get real.

PAM: I think one of the toughest aspects of being a mentor is when your employees come to you, and they ask, what's my next step? How do I get to this level? But you as the mentor don’t have that answer. A good mentor will go get somebody else that can help. Don't let somebody flounder; help them! What I would recommend to anyone looking for a mentor is question yourself constantly. What do I want to achieve? What do I want to learn? You’ve got to be curious and want to grow. Mentors support that growth!

PAM: A thing I look back on is, at some point, your own cockiness might cause you not to listen. That’s one of the most valuable things that I have learned over the years is to shut up and listen! Understand what it is they're trying to accomplish versus what you have experience doing or maybe not doing that might lend them a better framework for what they're trying to accomplish. Early on, I didn't listen that well. My failure was my arrogance. I have tried to temper that throughout my career.

ANDRIA: Cathleen, you were recently quoted by the MBA as saying, “companies are more successful when their people bring a diversity of ideas and experiences to the table.” What last bits of advice would you like to share?

CATHLEEN: It is why we have two ears and only one mouth, right? We're supposed to listen twice as long! ANDRIA: What are some of the most important dynamic qualities to look for in a good mentor? PAM: First, look for a mentor inside your organization and share where you want to be in three to five years. CATHLEEN: Yeah, when you share that with a mentor, now that mentor’s listening for the opportunities that they can bring to your attention. A manager may know your development plans and your performance plans, but a mentor can listen with a very different filter. For example, if I know you want to go a CIO role, even though you might be on an M&A team, if you don't express that desire or interest, no one knows to think of you. A mentor can start to help land you in these places.

CATHLEEN: People who need mentoring will come forward and help design it if you give them the right environment. I also would NOT want people to think that you must be early in your career to have a mentor. Some of the biggest growth I’ve had was later in my career. There's many stages you go through; I was still getting mentored from someone who could bring me perspective about delegation and empowerment pretty late in my career. So now, you must evaluate what kind of a mentoring relationship do you need to move to the next level. For example, what kind of mentoring do I need to get on a board of directors? What kind of mentoring do I need to be an independent thought leader, or whatever it is you want to do? Being mentored is not just for early in your career! Andria Lightfoot is the COO at George Mason Mortgage, LLC. Andria’s primary role at GMM is to develop and execute transformational technology methodologies to foster organizational growth and promote operational efficiency. She has held a variety of leadership positions in the mortgage industry over the last 15 years in Information Systems and Compliance. Andria holds a Bachelor of Science in Human-System Development from Brigham Young University and is currently pursuing her Master’s in Information Technology Management at Georgetown University in Washington, DC.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

S AY Y E S T O M E N T O R I N G!

YES

SAY TO MENTORING! BY L AU R A B R A N DAO

anuary is National Mentoring Month, and a new year is the perfect time to explore the positive impact that mentoring can have. Whether you are the mentor or the mentee, there are a myriad of benefits. In fact, mentoring has proved so beneficial that 71 percent of Fortune 500 companies offer mentoring programs to their employees.

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Success only happens when both parties take responsibility for making it work. Mentorship requires a willingness to reflect on and share one’s own experiences, including one’s failures. There is tremendous benefit to being vulnerable enough to seek out and accept guidance from a mentor. As women, we have to be ok with saying, “I need help.” There is also tremendous value in opening yourself up to candidly sharing your experience, and being willing to commit time to mentor others. Women must take ownership in empowering other women. As the first female president of CNN Productions and PBS, and the first woman to own and host a nationally syndicated daily talk show, Pat Mitchell is a serial ceiling smasher. She is also a passionate mentor, who believes mentoring is one of the strategies that can close the gender gap in leadership. Now serving the world as the editorial director of TEDWomen, Pat Mitchell has spent decades demonstrating that mentoring is one lever we

can activate to advance more women in their work, to help them gain access to capital and economic opportunities they might otherwise miss, and to be better prepared for opportunities when they come.

Women’s Mortgage Network In the past several months, I have witnessed an outpouring of women empowering other women in our industry. In less than a year, the Women’s Mortgage Network (WMN) has grown from its inaugural summit to a growing network of more than 2,300 actively supportive mortgage professionals. Last March, 50 women, who serve in various posi-

tions throughout the industry, were invited to engage in an intensive workshop which highlighted collaboration and communication, and culminated in an affirmation exercise that many women have memorialized in their respective offices to provide an ongoing source of motivation. Every day since, I have witnessed women opening themselves up to ask for the help they need, and reaching out to help others. The broker/owner of Next Generation Home Loans, which is headquartered in Littleton, CO with additional branches in NM and TX, decided to answer a challenge to be intentional in bringing new talent into

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

S AY Y E S T O M E N T O R I N G!

As a young woman coming up in the mortgage industry, there were no women leaders to be found ... So now, when someone has the courage to approach me to request mentoring, I say yes! our industry. Since she was previously a corporate trainer, Jackie Dunlap figured she could tackle training her team during COVID. But that quickly evolved into, “How can I help?” Well, Jackie took to YouTube and starting offering training to anyone who expressed an interest. She broke down loan processing into digestible sessions, and began offering boot camps. As of August 2020, Jackie had trained hundreds of mortgage newbies, had over 1,000 subscribers to her YouTube channel, and had given out 15 scholarships to people who had been negatively affected by COVID. Her mortgage processor training, now available under The Mortgage Calculator moniker, is still going strong, and still bringing new talent into our industry, while helping them prepare to add value. Another mortgage broker, in Tucson, AZ, accepted a challenge to be her own inspiration for the year ahead. On April 1, Amorette Hernandez, or #MoeTheMortgageLady, wrote a love letter to herself. She did not see it again for eight months, split-

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ting her time between her company office, home office, and working from the road, traveling to support her daughter’s softball pursuits. She rediscovered the letter while cleaning up and organizing her office over the Thanksgiving holiday weekend, and shared it with her “sisters” in WMN, in case they needed to hear the message for their own encouragement. “I see you struggling with the daily decisions you have to make and the amount of stress you are constantly under. Know that I am proud of you, running towards finding solutions instead of cowering in a corner. You are a fierce leader and I know you hold yourself back. Believe in yourself and know that the power you hold inside is exactly what you need to get to the next level you so deserve. Believe that you’ve got the power to control your schedule and make time for yourself. You are beautiful and deserve to age beautifully. Be selfish so that you have more of yourself to give to others. Be relentless as you continue to run towards the future. Be faithful in knowing that He is already working on the path ahead of you. I love you and I’m cheering for you. Love, Me”

No Guts, No Glory As a young woman coming up in the mortgage industry, there were no women leaders to be found. I learned very early on that I would have to figure things out for myself, or seek out people with the specific knowledge or skills I wanted to gain, and ask a lot of questions to learn what I needed to advance my career. I had to find a way to self-mentor during a time when information was not so readily available as it is today. So now, when someone has the courage to approach me to request mentoring, I say yes!

Mark Your Calendar for these Courageous Conversations JANUARY 12 • JANUARY 19 • FEBRUARY 2 Join us virtually for a new three-part virtual series that will explore the experience of being a woman of color in real estate finance. Hear a dynamic lineup of female industry leaders share their personal journeys and discuss solutions to bridge the gap through allyship, mentorship and sponsorship. These timely conversations will inspire and inform while giving voice to the challenges and opportunities to help move our industry forward. This series is complimentary for MBA Members. Register today at mba.org/voices. CO-PRESENTED BY

MBA.ORG/VOICES 22217

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

S AY Y E S T O M E N T O R I N G!

One such woman called me last fall, following a presentation I did at a virtual conference. She didn’t know me, she had never even met me, but she had the guts to approach me. Jessica Fitzgibbons was a successful insurance broker and was trying to get to the executive level. We scheduled a call, and she started by asking questions about my career path, and then jumped into sharing her journey, her current situation, and obstacles she was trying to overcome. I asked her a number of direct questions and suggested a few things to try in certain scenarios. We scheduled our next call to check in and follow up. Truth be told, I learned from her just as much as she learned from me. I gained insight into how she processes things, from her perspective, and at her level in the organization. In her telling me “my boss said this,” she was teaching me what my team could be hearing when I say certain things. By being candid and vulnerable, Jessica has helped me be a better leader.

Benefits of Mentorship Among the numerous benefits, a successful mentoring relationship can help escalate a career, including promotions, raises, and increased opportunities. It is no secret that organizations that embrace mentoring are often rewarded with higher levels of employee engagement, retention, and knowledge sharing. But let’s take a closer look. Individual mentees open themselves up to:

•

Gaining experience from seasoned professionals

•

Enhancing their strengths, and getting assistance overcoming their weaknesses

•

Creating concrete goals and career-enhancing activities

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•

Personal development, and a sounding board for innovative ideas and strategic thinking

Mentors have a lot to gain as well. They open themselves up to insights into other fields, younger generation issues, and partaking in a conscious reflection about one’s own career. Mentorship provides mentors the opportunity to facilitate the growth of young talent, and encourage other women in the workforce.

When and How Do We Mentor We need to be willing to be a mentor when and where needed. Being a mentor is about asking smart questions, not having all the answers. As mentors we need to resist the urge to provide direct advice. Instead, offer supportive advice so that your mentee has the information to make her own decisions, which she’ll then be able to stand by with greater confidence. Our careers and our lives often go through cycles. We continuously need to learn to grow and continue to be successful. Sometime you should be the mentor, and sometimes you need to be the mentee. All women should know that they have the power to succeed, and we each have value to impart to others. We should all aspire to leave our industry better than when we arrived. Say YES to mentoring and empowering others. Laura Brandao is President of American Financial Resources, Inc., as well as a mentor, speaker, and author of Say Yes Everyday. She serves as an industry resource who shares her passion for bringing families home. Laura launched the wholesale channel for AFR in 2007, and has since grown AFR into a leader in specialized programs.

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MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

A C A P I TA L M A R K E T S J O U R N E Y

A Capital Markets Journey

IN V E S T ING IN A DI V E RSE PAT H, ME N T ORS & C ULT URE S

BY D E B J O N E S

s I look back at my 35+ year career in the mortgage industry, I remain so thankful for how my journey unfolded. When I first began, there were not a lot of women working in this field or in analytics, finance, strategy, or other leadership roles. Even as few as 10 years ago, it was rare to see women holding seats at leadership tables. We truly have made huge progress, and women now lead teams serving critical roles in every aspect of the industry, in-

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cluding capital markets. Iâ&#x20AC;&#x2122;ve had the pleasure of working alongside many smart and talented women who have gone on to assume leadership roles at various banks and companies throughout the industry. One great example is Renee Schultz, who worked her way up from being a trader to running all of capital markets for Fannie Mae. Young women must find those genuine mentors to take bold steps early in their careers and broaden their experiences. Learn as much

A C A P I TA L M A R K E T S J O U R N E Y

as possible about the mortgage business by taking different roles early, and don’t be afraid of a little hard work. After all, you may impress someone now who can help you land that dream job years down the road! My journey in secondary marketing was born out of my college major of Economics and Business, where a required internship lead me the head of Investors Home Mortgage in Richmond, Virginia, via a college alumna reference (networking!). He was supportive from the very beginning and made me promise I would come back in the summer after the internship was finished to process loans and truly get my career started. It went so well for both of us, that upon graduation, they made me their first manager trainee in a new talent development program. Both the internship and management program gave me insight into all areas of the mortgage banking life cycle, and I am thankful for the time I spent learning those aspects of the business. After I completed the year-long training program, they asked me to work on implementing its first ever loan origination system (remember, this was the mid ‘80s). I did programming, training, design, and delivery. I even helped hardwire the computers! That whole experience taught me so much, from training the users to writing rules submitted by the secondary team for products and pricing. Next, I moved into a junior trader role in secondary marketing and over the next few years gained experience in pricing, hedging, and developing automated tools for the daily position and mark to market. I also worked on CMOs and helped form our first ARM securitizations. We had a great culture with collaborative leadership that embraced people with positive energy and willingness to take on challenges; finding that right culture is important. While I was happy in this role, after six years, I decided to move from Richmond to Atlanta with no job as I needed to make a

change. I loved where I had been, but I didn’t want to get too comfortable, so I decided to make that bold move. Instead of joining a traditional mortgage company, I went to work as an asset marketing specialist for the Resolution Trust Corporation during the S&L crisis. I was able to leverage my secondary skills to manage loan sales as they dispositioned failing banks. This was never intended to be a long-term career path as the role had a lifespan of only five years. I was fortunate to learn from a small but diverse group of mortgage experts in the pilot program to dispose of $10 billion in assets in two years. We had to create a new program for the FDIC, leveraging traditional secondary transaction management instead of the FDIC bureaucratic case management in order to improve execution to the government and tax payers. The team consisted of former Freddie Mac leaders, Wall Street traders, and mortgage origination capital markets professionals. We all brought different skills to the table and enjoyed great success as we pulled together as displaced industry capital market subject matter experts. I’m pleased to say I formed life-long friendships with several of my colleagues in that role. After the pilot was complete, I ended up going with a few of my RTC peers to Greenwich Capital as a Deal Manager in the Dallas office. I was ready to try my hand directly working inside a Wall Street firm as I gained experience in capital markets. This was a natural move as I was confident that I had enough experience through buying, curing, and reselling bulk packages at the RTC. Only now I wasn’t working for the government, but rather with the investors we had been selling to, so I had to prove to myself I could succeed in a Wall Street “establishment.” In less than two years, I decided to take another bold risk as I was offered an opportunity to partner in a start-up mortgage consulting firm focusing on transaction management.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

A C A P I TA L M A R K E T S J O U R N E Y

As the RTC transactions waned, we had to reinvent ourselves, so we offered transaction support to small banks with no real capital markets infrastructure in strategic asset sales. We were in a mini refi boom at the time, so we created a talent pool of entry-level candidates for data entry and junior processing positions, and simultaneously provided contract underwriting and quality control to both large and small banks. This was the experience of my career, as we dove into entrepreneur mode and used the varied knowledge we all had gained in our past lives to reinvent ourselves based on market needs. At times, we experienced both feast and famine, including once only meeting payroll for our employees by using my credit card as a holdover until our clients paid. That experience was immeasurable and while I made less money in those four years than I would have in two as a deal manager, there simply is no price that can be put on what I learned. I tested my boundaries, felt scared without showing it, was resourceful, and delivered what the client needed. What a ride! I learned that former relationships can’t guarantee future success. The importance of constantly forming new relationships and earning their trust is a lesson that I will always keep with me. I only ended up back in mainstream mortgage banking on the back of a secondary marketing consulting job with the company I had originally started with, though they had since been acquired. I had missed the dayto-day mortgage banking energy and had a specific interest in capital markets. When the consulting job concluded, the head of capital markets at the time, asked me to come on board and install QRM hedging systems while he developed me as his successor. We focused on areas where I had gaps in knowledge, like product development and investor relations. As planned, I assumed that leadership role once he moved on.

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Through the next acquisition, I continued my role in leading capital markets for Charter One and eventually took on additional responsibilities as chief administration officer, managing not only secondary, but operations, JVs, captive reinsurance, and even sales in an interim position during a leadership gap. I had a great capital markets team that allowed me to broaden my leadership scope. When Citizens acquired Charter One, I resumed a singular focus in managing capital markets where I am today. I learned a lot overseeing the various roles but was excited to be able to focus primarily on capital markets again. Throughout my career at Citizens, I have been leveraged for strategic input and special initiatives as well. It’s a great place to work with talented leaders and a collaborative culture, particularly in these last few years as we have grown our mortgage division. I wouldn’t trade the lessons I’ve learned throughout my career for anything. The struggles have been an important part of the journey, and I know that I’m stronger for having gone through them. So, why is it hard for women to get into these types of roles? To be honest, I’m not sure it is if you find the right culture and support. Be adaptive and learn to work in a diverse, challenging, and competitive environment. You will succeed if the company culture legitimately embraces top talent, irrespective of gender or other diversities. Understand that in conflict you may be right, but how you deliver the message will make all the difference in how you are perceived. Women’s feedback can be taken very differently, so seek coaching on how to present yourself so you are taken seriously. Look at the broader picture, stay focused on delivering results, and as my mother always said, “cream always rises to the top.” Working with both female and male mentors will give you the broadest perspective. Early on, take bold and diverse steps without “job-hopping.” Make your moves strategic and

A C A P I TA L M A R K E T S J O U R N E Y

meaningful. Invest in breadth and depth of skills and knowledge, but also find a specialty to set yourself apart from others. Whether you are climbing up the ladder from inside capital markets or from finance or analytical roles, understanding mortgage banking will be a critical investment in yourself. Finally, be authentic. Build trusting relationships through accountability, collaboration, and hard work. Delivering results and sharing successes with teammates, no matter how large or small, will establish your reputation. Build both tactical and strategic capabilities along the way, as you’re sure to use both. Engage in the industry trades and give back by participating in trade association working groups. You will learn to understand issues from various perspectives, and you will build

lasting friendships. Plus, you’ll always have someone to help you work through your challenges. Most importantly of all, never forget from where you came. Become someone else’s mentor… pay it forward! Deb Jones is SVP and Director of Mortgage Capital Markets at Citizens Bank, and oversees teams that manage pipeline hedging and delivery, pricing, investor relations, product development, credit administration and repurchases. Debbie participates in industry activities, including MBA, HPC, Urban Institute and various GSE and lender roundtables. She currently serves as Vice Chair of MBA Capital Markets Committee, and has been an industry speaker at the MBA. As a member of the MBA, she served as President of the Richmond, VA chapter, Membership Chair of the Virginia chapter and was named Virginia Mortgage Banker of the year in 2001 and participated in activities with Habitat for Humanity.

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MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

s r e z a l b l Trai

T R A I L B L A Z E R S : B L A Z I N G A PAT H . . . R A I S I N G T H E B A R

B L A ZI N G A PATH ... R A IS I N G TH E BA R

BY PAT T Y A RV I E LO

Patty Arvielo is an award-winning entrepreneur and the co-founder/President of New American Funding. A firstgeneration Latina, she leverages more than 39 years of experience in the mortgage industry to lead the company’s sales and operations efforts. In addition, Patty created the company’s Latino Focus and New American Dream initiatives to improve the home lending experiences for Latino and Black home buyers. Patty is also a popular keynote speaker for mortgage events across the nation. She is on numerous committees, including the Mortgage Bankers Association, the National Association of Hispanic Real Estate Professionals (NAHREP), and the Housing Counseling Federal Advisory Committee (HCFAC). She frequently visits Washington, D.C. to lobby for the industry and homeowners. Ernst & Young recognized Patty as 2016 EY Entrepreneur of The Year® Orange County.

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WHAT DOES IT MEAN FOR YOU TO BE A TRAILBLAZER? “I think to even be considered a trailblazer is an honor. I hold that in a high regard because I feel responsible for those who are looking up to me for guidance and the vision that they, too, can be CEOs or presidents of their own companies. I do not feel like I’m saying anything unique, but I make sure that I’m giving back, so that others don’t make the same mistakes I’ve made. And hopefully, they can find the path to success a little easier than I did.”

WHAT HAVE BEEN YOUR BIGGEST MOTIVATORS AS YOU TAKE ON THIS CHALLENGE? “My biggest motivators are those with whom I surround myself. The girls in my mentorship program are a huge motivator. As much as I give back, they give me back more by the way they make me feel and that what I’m doing has a purpose. I get such a sense of significance from it; I feel like I matter to them, so they matter even more to me.”

CAN YOU SHARE WHAT HAS BEEN THE IMPETUS BEHIND THAT GENEROSITY? “I think by nature, I'm a very giving person. When I have opportunities to extend generosity, either by advice or monetarily, I want to do that. I really feel like Hispanics are making a big impact in this country yet are very underserved. Because of that, I enjoy philanthropic work that supports Hispanic children through organizations like Big Brothers Big Sisters and CASA. Ninety eight percent of the kids that they serve are Hispanic, and they need our attention. I’m an embodiment and representation of their culture, so I feel a responsibility to give back.”

AND WHERE DO YOU SEE THE FUTURE OF WOMEN IN MORTGAGE IN THE NEXT FIVE YEARS? HOW CAN WOMEN DO MORE TO EMPOWER THEMSELVES TO CARVE THEIR OWN PATH? “Women need to continually speak up and be heard, but not only that, they need to understand their own value, and share that. Women in this industry, and women in general, need to make their voices heard. It’s really

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

T R A I L B L A Z E R S : B L A Z I N G A PAT H . . . R A I S I N G T H E B A R

time for us to tell the industry that we’re here and we’re having a big impact in this business; we always have. We’re the backbone of the mortgage industry, and now were becoming its leaders. Women are using their skills and their confidence within the industry to let everyone know that they’ve arrived, they’re here, they’re willing, and they want to move up. There is a desire to go further and that’s a big deal.”

WHO ARE YOUR MENTORS AND COACHES? HOW DO YOU SEE MENTORSHIP AND COACHING BEING A FACTOR IN THE GREATER VISION FOR FEMALE EMPOWERMENT? “Throughout my career, I’ve been watching and learning from others since there really isn’t a school of mortgage lending for the most part. It’s just much more critical for us to align ourselves with people we look up to and emulate them. Sometimes you may know them personally, and sometimes you won’t. If you’re lucky, you’ll know them. And if you’re even luckier, they’ll give back. In this industry especially, it’s important that if you’re stuck to learn from somebody else who’s experienced what you’re going through. It’s not only coaching that a mentor can offer, it’s hope. And a lot of times, when we’re stuck, it’s hard to see the light at the end of the tunnel. So, you just need that coach to tell you, ‘listen, I’ve been there, I’ve done that, and you’re going to be OK.’ And that’s when you can break through. My husband Rick is a huge mentor of mine, and he is my main coach for sure. He’s not only my business partner, but he’s my partner in life. He really is. There’s not very many people like him; he is always optimistic and always gives me a positive message with clarity as to why things are going to work out. We push each other. It’s so rare, but it works!”

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WHAT IS YOUR FAVORITE QUOTE OR MAYBE A QUOTE THAT YOU RECENTLY CAME BY THAT YOU REALLY ADMIRE? “The one I always remind myself of, especially as a leader, is ‘when people show you who they are, believe them the first time.’ I think it’s very natural for a leader to want to fix things and change people, but people are who they are. So, I must make sure that I’m verry aware of my surroundings: who I’m hiring, who I’m leading, and how they can help us and themselves.”

MOVERS

s r e k & Sha

Common Securitization Solutions (CS) hires Susan Gueli as CTO

First Mutual Bank promotes Tammy Belcher to President

First Mutual Bank (FMB), an independent depositorSeasoned technology leader owned bank affiliated with First Mutual Holding Co. with more than 30 years of (FMHC) has appointed veteran banking professional mortgage industry experience Tammy Belcher as president. Belcher will assume her new role on JanuSusan Gueli has joined Comary 4, 2021. She will replace Robert J. Doyle who moves into the newly mon Securitization Solutions created role of SVP, special assets for FMHC. Blecher will represent the (CSS), CSS is a joint venture bank throughout the region and have ultimate responsibility for the sales, owned by Fannie Mae and operations and financial performance of the bank, the company said. Freddie Mac that enables the “Tammy understands the importance of mutual banking to our communiissuance of mortgage-backed securities, as ties and knows the impact we have on helping local residents and businesschief technology officer (CTO) and executive es,” said Daniel Mason, FMB board chair. “Her regional roots and extensive vice president. Gueli will be a member of the experience in banking, coupled with a strong focus on delivering a terrific CSS Executive Committee and will report to customer experience make her the ideal candidate to lead First Mutual Bank Tony Renzi, CSS’s chief executive officer. into the future.” “CSS is very pleased to welcome Susan Belcher currently serves as the vice president, risk and compliance officer at to our executive management team,” said FMB. Previously she held the same role at Belpre Savings Bank until Belpre and Doolin Security merged to form First Mutual Bank in 2018. She also has financial Renzi. “CSS is the technological backbone services operations, marketing and sales experience. Belcher holds a bachelor’s of the agency mortgage-backed security degree in business administration from Marshall University; and completed the (MBS) market, administering $5 trillion American Bankers Association Graduate School of Compliance. in agency MBS, and our CTO position is among the most important in all of housing finance. I’m thrilled that Susan is on board to set the vision and guide the technological future of CSS both today Farmers Group, Inc. promoted Maïté Irakoze Baur to the role of chief and in a post-conservatorship world.” investment officer effective January 1, 2021, replacing Tom Rogers Gueli brings a wealth of executive who is retiring at the end of the year, based in Woodland Hills, Caliexpertise to her CTO role. Previously fornia at the company’s headquarters. Irakoze Baur has been leading she held a series of increasingly seFarmers’ insurance investments since joining the insurer group in 2016. nior roles with Nationwide, which in“Maïté has a demonstrated record of success overseeing significant cludes eight years as chief informainvestment portfolios, most recently as Head of Insurance Investments,” said Scott tion officer of Nationwide Financial, Lindquist, chief financial officer for Farmers Group, Inc. “I am confident she will continue and serving as chief information ofto leverage her experience and extensive knowledge to oversee our various investments ficer of Nationwide’s Infrastructure to help benefit Farmers and its customers. I’d also like to thank Tom for his countless con& Operations. Most recently, she tributions to the organization and wish him all the best in retirement.” was chief technology officer of Prior to joining Farmers, Irakoze Baur held various positions with Zurich Insurance Group, Nationwide’s Program & Applicaafter she joined the company in 2005. Her most recent role was Head of Investment Mantion Services where she led indates and Treasury in Investment Management Switzerland responsible for implementing house application development, the investment strategy for various Zurich balance sheets based in Switzerland; and oversaw digital transformation, shared local balance sheets’ portfolios and liquidity management since 2011. services, and a team of more “I look forward to working with all stakeholders to further optimize the investment portfolio than 3,000 IT professionals. and support Farmers strategy,” said Irakoze Baur.

Farmers Group promotes Maïté Irakoze Baur to CIO

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

#LE ADINGWOMEN

Dalila Ramos VP of Talent Acquisition Planet Home Lending

Dalila Ramos, Planet Home Lending’s Vice President, Talent Acquisition, is a dynamic, charismatic brand ambassador with more than two decades of expertise and impressive in-depth industry knowledge. As Planet’s hiring team leader, she taps into an extensive industry network of both established pros and up-and-comers. Before joining Planet Home Lending, Ramos served as director of development for the National Association of Minority Mortgage Bankers of America (NAMMBA). She also held leadership roles for several mortgage banking companies, including Atlantic Bay Mortgage Group and Caliber Home Loans.

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MWM: When hearing the term #LeadingWomen, what is the first thing you think about, and how does it feel to be asked to represent this cause for the January issue? Dalila Ramos: How much things have changed for us women. We have come so far! And for the first time ever, our voices are being heard. We are dominating in so many areas. Single women are the highest percentage rate of new homeowners. I know, I am single and own a couple of

#LE ADINGWOMEN

properties myself. I also see us women lifting each other up. It’s no longer the jealousy or a competition. You see women supporting each other, encouraging, and cheering for one another. I see that everyday via our LinkedIn platform. I am grateful to be asked. I know I represent an array of women: the minority woman, the single mom woman, the cancer survivor woman, the no advanced college degree woman, the divorced woman, I can go on…. I am honored to represent the January 2021 issue. MWM: Can you give us a brief history on what has brought you to where you are today, as the VP of Talent at Planet Home Lending? Dalila Ramos: Two words: consistency and effort! I have been in the mortgage industry for almost 20 years, and I have worked in so many

areas within our mortgage world. I have done title, processing, loan origination, call center environment, recruiting, HELOC’s, and more. Through my journey, I have been consistent with my work ethic, and putting forth the effort to learn something new so that I can make myself more valuable and add another notch to my mortgage belt. I also have had great people and leaders in my life to guide me in my career. A few are: Michael Cusack at Chicago Title, Ruben Martinez who worked with me at First American Bank, Brian Livingston at Caliber, Tony Thompson who was at PNC and now is the CEO of NAMMBA, Suzy Lindblom, COO here at Planet, and there are many more. These amazing people gave me an opportunity, poured into me, and have taught me valuable lessons and skills that I use in my career and my personal day-to-day. I am thankful for them, and to this day, can pick up

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

#LE ADINGWOMEN

the phone and call them when I need them. Relationships like these are priceless! Don’t take that for granted and make sure you keep up with your relationships. MWM: How can female executives better advocate for themselves in such a highly male-driven industry, especially during a time when inequality is more prevalent than ever? Dalila Ramos: Focus on their God-given talent. We are all given a special gift or talent that we do better than most people. Sometimes it’s a combination of talents, but find that skill, focus on it, perfect it, and you will see how you shine and rise above all. Male or female. Be true to yourself, and don’t compare yourself with others. Us women can do amazing things, like give birth, hello!!!! But somehow, we tend to lose that, or feel that we are not worthy of it because we have a home or children to take care of. Planet Home Lending’s leadership is run by over 50 percent women, and you should see how kick butt we are together! Lastly, get yourself a mentor and invest in yourself. Us women need to do a better job in taking care of ourselves. Hire a coach, take that course, read that book, or even go get that massage. But we need to start putting us first so that we can keep advocating, growing, and inspiring other women. MWM: What is your “why”? What drives everything you do? Dalila Ramos: Think of Simon Sinek: My faith. My faith in God is what drives me. I know that is not supposed to be talked

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about in corporate America, or our industry, but it’s my truth. I am currently reading this book. It was gifted to me by our CMO, Jim McDonald. My family also drives me, especially my Grandma. I had the most wonderful, amazing Grandmother anyone could have. The environment I grew up in was challenging, but even in the midst of it, she gave me peace, and I always knew how loved I was, that I mattered, and that, with God, all things are possible. I grew up to be just like her. I want to share that with people and with our industry. I don’t care what obstacles are in front of you; you can overcome them! I am proof and a walking testimony to that. MWM: Anything else you want to add that will help people learn more about you and what makes you amazing!!! Dalila Ramos: I absolutely love our mortgage industry. I am grateful to Planet Home Lending for my new role, and the opportunity to grow our organization, our culture, and help people along the way. I am passionate about introducing new folks into our amazing mortgage industry. I will continue to work on being an ambassador for women, still being authentic and real! And continue to have that on the street viewpoint. Oh, and I love tacos! Know that my tacos videos are not going away. In fact, I am going bigger and better come 2021! MWM: What is your favorite inspirational quote? Dalila Ramos: “When you know better you do better”.

T R A I L B L A Z E R S : B L A Z I N G A PAT H . . . R A I S I N G T H E B A R

C AUSE OF T HE MON T H

National Women’s Law Center https://nwlc.org

WH AT IT I S The Center began in 1972, when secretaries at a public interest law firm made four demands: better pay for women, more women staff attorneys, work on women’s rights, and no serving coffee. And they succeeded.

VISION The National Women’s Law Center fights for gender justice — in the courts, in public policy, and in our society — working across the issues that are central to the lives of women and girls. They use the law in all its forms to change culture and drive solutions to the gender inequity that shapes our society and to break down the barriers that harm all of us — especially those who face multiple forms of discrimination, including women of color, LGBTQ people, and low-income women and families. For more than 45 years, they have been on the leading edge of every major legal and policy victory for women.

WH AT TH E Y DO The Center has been a leader in the landmark legal and public policy advances that have dramatically improved the lives of women and their families for more than 40 years. The Center also provides educational services to all women in the areas of child care and early learning, health care and reproductive rights, workplace justice, and many other areas.

WH AT YOU C A N DO • Donate • Support their virtual gala • Share your story • Participate in “Calls to Action” with your local, state and national lawmakers

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

T E C H TA L K

Tech Talk By Suha Zehl INNOVATION IN THE SECONDARY AND CAPITAL MARKETS

am neither a secondary marketing executive nor do I play one on TV. But I am a tech geek; and, in previous roles, I had the opportunity to collaborate with other leaders to develop a meaningful secondary marketing strategy. So, what did I learn in the process? Well, the first is this: unless you are part of the secondary marketing team, you may not know, much less understand, a great deal about what happens in the secondary and capital markets areas. For most, rate sheets are magically created and distributed, loan officers can demonstrate product and pricing comparisons to their customers, and they are able to lock their pipeline. Loans are re-priced, secondary analysts run comprehensive best execution analyses for optimal loan delivery, and then those loans are sold to investors, yielding the highest economic benefit. Say what? For someone unfamiliar with secondary and capital markets workflow, the above paragraph sounds like a bunch of words strung together, right? Let me break it down for you and define some of the scope of secondary marketing. In doing so, I will then be able to showcase some

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of the innovations driving the technology evolution that will transform this space. These innovations will drive growth, increase profitability in a compressed margin environment, and improve the overall mortgage process in 2021 and beyond. First, I should probably provide a definition for what the secondary and capital markets are and are not. In the simplest of terms, the transaction (loan) between the customer (borrower) and the lender takes place in the primary mortgage market. In contrast, the secondary mortgage market is the marketplace where home loans and servicing rights, individually or bundled together, are bought and sold between lenders and investors.

Make sense? Both areas, primary and secondary mortgage markets, have benefitted from a tremendous amount of digital transformation and

T E C H TA L K

automation. In this article, I will focus on the secondary marketing solutions that have transformed this space, solutions like product eligibility and pricing engines (PPE), hedging platforms, best execution analyses, and loan delivery. Just a few years ago, the entire pricing and lock functions were very manual and relied on “someone” to do “something,” a process prone to errors and potential risk to the organization. Margins had to be managed, rate sheets created then imported into the various systems (POS, LOS), investor guidelines had to be maintained and updated, locks had to be requested then confirmed by secondary, secondary had to verify the lock with the investor, the LOS had to be updated and so on. Throw in mortgage insurance pricing into this mix and some double data entry across systems and you can see how all this can get very complex, quickly. Did I mention that this process was manual, extremely time consuming and rife with errors and delays? Believe me, it was, and it still is for those who

continue to perform these tasks manually. The resource intensive nature of these secondary marketing tasks and activities has created opportunities to deploy technology that will improve operational efficiency, decision making, and competitive viability in today’s uber-competitive environment. As pressure grows to lower costs, improve margins, raise quality, shorten turn times, reduce risk, and sharpen decision making, automating the entire secondary marketing process, from soup to nuts, is the proven path to success. We have certainly seen a plethora of solutions and providers trying to improve every facet of the secondary marketing workflow with technology and innovation. Lenders today are seeking ways to deploy this technology to create leaner processes with increased automation. In my humble opinion, the following six keys areas should be high on every lender’s strategic secondary marketing roadmap to help drive those efficiencies home.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2020 2021 MORTGAGE WOMEN MAGAZINE • NOVEMBER/DECEMBER

T E C H TA L K

1) MANAGING AN EVER-EXPANDING PRODUCT OFFERING LINE IN REAL TIME, SEAMLESSLY AND ACCURATELY

As the number of investors continues to grow since the financial crisis of 2008, lenders have to be able to deliver conforming conventional loans and loans that do not fit that definition. Many investors are slowly adding and looking to buy other type of loans (jumbo, non-QM, low-income borrowers, etc.). Lenders who can leverage automation to manage this expanding set of content with high degree of accuracy will benefit and see measurable growth in the years to come.

2) AUTOMATING THE LOCK DESK WORKFLOW TO ENSURE SCALABILITY AND REDUCE ORGANIZATIONAL RISK BY FLAGGING LOAN-LEVEL DATA CHANGES THAT IMPACT ELIGIBILITY AND PRICING

Whether it is helping loan originators lock, re-lock, or extend locks anytime, anywhere, automating the lock function to minimize the number of touchpoints, integrating with mortgage insurance providers for real time pricing, or providing real-time loan monitoring to identify potential eligibility issues or pricing changes. L\enders who implement solutions to automate these and other secondary marketing lock-related functions will realize an unexpected ROI in resource productivity, reduction

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in cycle time, and most importantly, improved customer satisfaction.

3) IMPLEMENTING A FLEXIBLE AND AGILE MARGIN STRATEGY TO BALANCE COMPETITIVE PRICING WITH PROFITABILITY TARGETS

Dynamic, channel and branch specific, margin management capabilities allow lenders to deliver the optimal price for each product and segment, all while optimizing volume and profitability. Furthermore, because these strategies can also vary by geography (think CA vs. GA), loan type (think purchase vs. refinance, conforming vs. jumbo), and other criteria, margin maintenance can be quite complex hence the need for automation.

4) PERFORMING BEST EXECUTION ANALYSES WITH ADVANCED PRODUCT MATCHING CAPABILITIES TO IMPROVE GAIN ON SALE According to the Mortgage Bankers Association, MBA, a comprehensive best execution analysis will have a larger effect on profitability than any other single action. The goal is for mortgage lenders to get the best price for the loans they sell to investors. Many of the complex yet repetitive tasks required of secondary marketing have been automated within the new suite of solutions to determine the “best ex” option. From delivery period to certainty of delivery (best efforts vs. mandatory), from method of execution (agency vs. aggregator) to servicing rights (retained

T E C H TA L K

vs released), a “best ex” solution must consider all the key factors to ensure maximum profitability while mitigating, if not eliminating, risk.

5) MANAGING PIPELINE RISK POSITION AND EXPOSURE IN REAL TIME WITH THE IDEAL HEDGE SOLUTION

Automation in this area is still at the grassroots stage; however, artificial intelligence (AI) is certainly helping lenders make a huge leap to the next level. There are solutions out there to help lenders model their risk position and production to help manage the pipeline and reduce organizational risk and exposure.

6) GAINING NEW INSIGHTS WITH DATA AND ANALYTICS FOR OPERATIONAL EFFECTIVENESS, COMPETITIVE BENCHMARKING, AND INDUSTRY TRENDS

Now we are talking! Data. Analytics. Dashboards. Yes! Those in the secondary marketing space really need those. Why? Because until recently, they had very little visibility or access to solutions that helped them measure the success of their efforts. It was all done manually or through excel reports. I know, I helped build some of those reports myself. As volume increases, data and analytics will become a differentiator, and lenders who have implemented solutions that provide actionable data and analytics solutions will have the competitive advantage.

The unprecedented origination volumes resulting from historically low mortgage rates are magnifying the challenges for secondary marketing leaders and analysts because of the limited visibility and increased unpredictability in the secondary and capital markets space. I hope that this article has shed some light on the critical role these functions play and the overall impact they have on profitability. Obviously, technology and innovation, backed by some serious artificial intelligence, is providing solutions that can dramatically and significantly impact the bottom line. By letting technology do the heavy lifting, analysts and leaders can spend more time on strategy, improving efficiency, reducing risk, and making the right decisions. I leave you with this one thought: whether your organization is in the early stages of adoption or you are currently implementing some of these value-added secondary market automation solutions, make sure what you select aligns with your overall strategy so you can leverage them to optimize organizational efforts. Suha Beidas Zehl brings over 30 years of global, information technology, and business experience in various industries, most recently in mortgage. Suha started her career as a Programmer Analyst; she has taught at the University level and ran her own successful consulting company before returning to the mortgage industry as an award-winning technology executive and speaker. She is currently the Chief Analytics Officer with Equity Prime Mortgage.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

HOLISTIC WELLNESS

NE W YE AR,

? u o y e Sam

By the time this article comes out we will be into the new year. How many of you have already ditched your New Year’s Resolution? Most people, around 80 percent, will fail by February. Why is this? After years of helping people with goal setting and coming up with lofty changes myself, I have concluded that it’s either because you don’t really want it or you came up with a great goal, but a not-so-great plan on how to execute that goal. 64

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BY J E S S I C A E H LE R

HOLISTIC WELLNESS

For all my current “failures” out there, I want to first address the crazy amount of pressure that comes with the new year and to challenge you to decide what it is you actually want. Rather, are you really willing to work hard for something you want? Is it worth the sacrifice to you? Will the outcome match the perceived expectation?

Let’s get back to my first dissection of why resolutions aren’t working for you: because you don’t really want it. I will use myself as an example. I was previously a bikini competitor prior to my loan days. I worked out religiously and stuck to my meal plan 100 percent of the time because the end result of accomplishing that goal was extremely important

MORTGAGE WOMEN MAGAZINE • SEPTEMBER/OCTOBER 2020

HOLISTIC WELLNESS

to me. Fast forward to adding another baby and 15 extra pounds… I WANT to look like I did back then, very badly in fact, but it is not a priority to live that lifestyle to accomplish that goal. And that’s ok! I don’t make that my goal anymore and I don’t beat myself up for not only “failing,” but not even hardly striving. I don’t want it badly enough; if I did, then I would do it because not only do I know that I can do anything I set my mind to, but I have also proven it many times in the past. Stop beating yourself up if you aren’t ready to put in the work; it means that you want it, but you’re not ready to want it. One day I will care enough, but today is not that day. So now, I’m going to switch gears a little bit. Normally I am all ra-ra ready for major growth, but this is 2021 you guys, and we cannot foresee what is in front of us. Are we going back into quarantine? Will there be a zombie apocalypse? We just don’t know, and, because of this, I’m personally giving myself a whole lot of grace when it comes to my personal expectations. Plus, as I grow, I realize that I don’t want to change me; I want to change some of my bad habits. While the New Year is a fantastic reason to start fresh, you can decide to make these changes any day of the dang week and still get the same results. So, if things haven’t been working out for you let’s sit back, reassess, and pivot. I think the thing I have really taken away from 2020 is that a shift in thinking took what would be a really bad situation and made it better. Quarantine sucked, but I used that extra time without running around like crazy and worked out more, played more games with my family, and taught my kids how to do household chores which really was brilliant, I don’t know why I didn’t take the time to do that sooner. Our house was feeling extra cramped with all of us there, and when you combine that with excessive heat in AZ and being trapped inside, we decided to sell our house and got one with a pool. One of my besties got a blow-up bounce

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house for her apartment so the kids could jump around! Instead of being stuck in our situation, we found ways to thrive while everyone around us was miserable. This isn’t saying that we haven’t had loss or heartache and stress over what is happening, but we chose to make the best out of it, and you can too. We don’t know when this will end. If you really want to make positive change in your life, you have the ability. You just need to take your power back and decide that you CAN do it. The first thing I did was sit down and journal out the answers to the following questions. • • • • • • • • • •

How have I grown in the last year? What am I done with (people, experiences, tasks)? What boundary issues have I experienced? How can I take better care of myself? What are some of my limiting beliefs? What would I do if I couldn’t fail? How would it change my life if I let my limiting beliefs go? What have been my negative coping mechanisms this last year? What can I replace those coping mechanisms with? What do I need to practice more or less of?

Did you just get smacked in the face with some obvious little changes you can make that would create a huge impact in your life? I definitely did! I’ve been coping with cocktails and pizza and letting realtors walk all over me damages my self esteem more than anything else. Deep down I have some serious imposter syndrome for how well we have done the last couple years. These are all things I need to work on that will benefit my life in more ways than creating some big irrelevant goal just for the sake of New Year’s that could potentially hurt me more than heal me. Now we’ll address the second reason why your goal chasing has been unsuccessful: you

HOLISTIC WELLNESS

came up with a great goal but aren’t executing it properly. Whenever I think of this, the saying “a goal without a plan is just a wish” comes to mind. Businesses don’t grow without direction and hustle, muscles don’t get built by sitting on your butt, and you don’t get more Zen just by reading quotes from gurus. You can have the best idea on the planet, but if you don’t do anything, it just sits there. If your goal is to run a 5k, but you have desk butt from doing nothing but loans last year, you’ll make it halfway around the block and quit because 5k seems so out of reach! But if you rationalize that you are starting from scratch and need to walk before you run, you can appreciate the small milestones and keep yourself motivated. So how do you create a goal and then execute without sabotaging it from the beginning? We make a SMART goal.

Specific. What EXACTLY do you

want to achieve. Not I want to run – I want to run a 5k. Measurable. How much, how far? Not “I want to lose weight,” how much weight? 10 pounds. Achievable. You can reasonably accomplish this goal within a certain timeframe. For instance, you’ve never lost even five pounds in your life, so 50 pounds in three months is not an achievable goal. Relevant. It aligns with your core values and life objectives. Timely. Set a realistic date.

Make sure to break your large goal into smaller ones with date deadlines. Bringing back the 5k example, a one-month goal would be to run one mile without stopping, a two-month goal would be to do a whole 5k between running and walking and the final three-month goal would be to complete the 5k without walking or stopping. This can be applied to anything in life, even outside of fitness, and is how I create professional goals as well. Let’s say next year you want to do 60 loans. Divide that number by 12 months and that is five loans a month. If you close 50 percent of your applications, then that is 10 applications a month or two+ every week. When you break it down into smaller numbers, it is so much less daunting and more manageable. Life is full of times when we can go big on our goals and then there are times when we need to scale back and protect our mental health. What if, instead of focusing on what we aren’t and trying to change ourselves, we decide to love ourselves and make relevant improvements to our lives instead of reinventing them and then hating ourselves for failing? Goals are very important for success, but only if they are the right ones that add real value to your life.

Jessica Ehler is a Loan Officer and CFO of The Ehler Lending Team in Gilbert, AZ. She holds a BS in Exercise Science from Arizona State University and has been a gym owner for 8 years. Fitness is still an integral part of her life. She is married to her loan partner and they have 3 amazing little boys.

MORTGAGE WOMEN MAGAZINE • SEPTEMBER/OCTOBER 2020

MORTGAGE MOMS

BY A S H LE Y G R AVA N O

MENTORS men·tor /'men,tôr, 'men,tər/ noun 1. an experienced and trusted adviser. Everyone should consider having a mentor! There is no better way to grow in your personal and business life. We often get in our own way and are very critical of ourselves. The saying “You’re your own worst enemy” supports the idea that a mentor can help open your eyes and give you a perspective from another lens. I am lucky to have had several mentors (too many too list) since my start in the “Biz” in 1998, and if I'm being honest, most of them have been male co-workers, bosses, or friends in the industry. I wasn’t always open to confiding in or leaning on other women in the industry as it often felt like a competition…ya know that “mean girl” vibe. I hope I am not alone in that feeling. In a predominately male industry, it was hard to find other women willing to listen and help guide you. Now there are so many great women in the industry that go unrecognized for their willingness to help other women in the space. There are also so many organizations and outlets like Mortgage Women Magazine! For this edition, I asked these questions: 1. What advice would you give other Women/Moms in the industry on how to find a female mentor and why is it important to have a mentor? 2. What Mom hacks/tips would you give other Moms in finding the time for their career and their personal growth, while being a full-time Mom of course?

SUZY LINDBLOM Chief Operating Officer Planet Home Lending 1. As women, we feel naturally guilty if we want a career while raising our children and then if we listen to other people, women and men, we get more guilt thrown at us. I have three children and felt guilty all the time, that I was not spending time with them like my sisters were with their children, which is the very reason to find a strong woman mentor early in your career. Strong women mentors that are Moms also, will show you and talk you through the tough times of that guilt. One of the best things that I did was to look up to women that built a career while raising strong children. What I didn’t do was find this mentor early enough in my career. My younger boys were in their

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early teens before I sought the counsel of strong women mentors and talked to them about my guilt. As I talked to them, and they talked about their own guilt, it helped me to see that it was natural to feel guilty, but that having a career was good for them as well. I saw their children grow into very successful, independent adults and it did put my own mine to ease that I too was raising independent children. As my children got older, I realized they did not see me as a distant mother, but someone that was strong and independent. My recommendation is to find these strong mentors early in your career and motherhood and know that you can balance both. Look at women in your company, organizations that you are involved in, volunteer agencies, and friends; there are so many places to find these strong women. As they say, it takes a tribe, and we are a strong tribe and love to help each other. Be honest with your

MORTGAGE MOMS

tribe, we will help and be there for you, as we have been through the same trials, the same guilt, the same “good grief, and what more can I do times”. 2. My best advice is to really take the time for yourself. Don’t let the guilt of having a career make you forget you. You need to make time for your personal growth, your career, and your own relaxation. I have always been a learner, but with career and children, I didn’t always make time for myself and have always regretted it. It was the guilt of being at work, so I sacrificed my time for them, but there were times that I should have just taken for myself, as I was short with them because I was not taking care of myself. I have learned over the years, that I needed me time as well. My kids have grown to be very successful adults and they tell me all the time, how independent that I made them, by being who I was. They don’t feel that I sacrificed my time with them for work; it was me thinking that and that was my guilt, not theirs. Again, I would not wait, make the time for yourself when you are young, as you will be happier, your family will be happier, and you will grow not only as a woman, but as a mother, and as a leader. While I had some women mentors, I didn’t get my first coach until I was in my 40s, and it was life changing. I am a much stronger woman, mother, and leader now that I have my female mentors, my confidants, my tribe. I am now an avid audio book listener, while I walk or bike. Continuous learning and taking care of myself is a key to success and happiness. But my best advice is in whatever you do, be in the moment fully. If that is spending time taking care of yourself, learning, spending time with your children, your family, or friends, be in the moment. Be fully present. That is the most important, it is not the amount of time, it is the quality of the time. Do not answer the phone, look at emails, etc. Listen to your children, enjoy their stories (no matter how many times they have told you the same story) and, when it’s “you” time, enjoy to the fullest!

DENISE MASEMORE-ARNOLDI Director of Residential Lending Business Systems, Applications and Delivery - Associated Bank 1. It’s no secret that finding the right mentor takes time and planning and can feel daunting in the beginning. Finding a female mentor adds a slight nuance to the process but there are plenty of opportunities with the number of women in leadership positions these days. The experts writing materials on this subject share that goal setting is extremely important as the first step. To find the right mentor, it is important to understand what guidance you are seeking. A mentor plays an important role to provide broader insight with experiences, offer guidance through the tough spots, and build confidence when successes occur. A mentor could be a friend, a family member, a pal from college, or a person met through a professional networking event. To be effective, the relationship is long-term and a commitment on both sides. As a banker that later moved into lending software, I leveraged two mentors during my career. The first I met in a banking class and the other was a female leader at my organization. I felt most comfortable with the leader at my organization since she understood, without too much explanation, the challenges I was facing. I also ‘gave back’ by stepping up to mentor another woman on her career path that led to her promotion. The most important advice I could offer for Moms (as if you need more to do) is to try to carve out bits of time in an already busy schedule, set personal goals, observe those in your network whom you admire, and enjoy the rewards of the experience. 2. March 2020 changed our worlds with many Moms working from home with school age children at the table next to them. For now, we are unable to attend conferences or networking events in person but there is an endless supply of articles and information on the internet that can guide and get you started. Read, read, read … lots of books, internet, blogs, and articles, and build your plan.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

MORTGAGE MOMS

A great woman’s site I found is Aspire to Her www.asipretoher.com. One article I found there is Five Ways to Network and Build Connections More Effectively. Another interesting article from Forbes will shed light: Advice From Top Women Leaders About Finding a Mentor. VERONICA NGUYEN Co-founder and Executive Vice President BeSmartee, Inc. I believe we should all have two mentors that have “been there, done that,” and can share deep insights into both our professional and motherhood journey. I’ve always followed these two steps when looking for mentorship: 1. Check yourself. Identify your needs. In which areas do you want to see yourself grow? 2. Tap into your network. Do you have any first- or second-degree connections who would be willing to mentor you? This is why building relationships is so important! I truly believe that in order for full -time moms to be successful in our careers, we need to surround ourselves with our own VILLAGE of trustworthy individuals that will support us in our journey. As a career mom, your brain elevates to another level because now you must think of, in my case, two little humans. You have to be super organized with your time to be hyper-efficient. In short, you don’t have time to waste time. Here are some career mama hacks that have helped me along the way. I hope they help you too. 1. Be creative: Get creative with your schedule. Time management is everything; be fully “on” when you’re at work, be fully present when you’re at home. For example, I book all critical meetings in the week so that if something comes with my kids, I can be flexible and be there for them. This reminds me of a quote: "Should I sleep? Or should I shower? I could sleep in the shower but I'm also hungry." — BabyBumpApp.com 2. Be resourceful: No matter how organized and on-top-of-it you are, each day will bring new challenges. Just as you are innovative in your career, harness the power of resourcefulness to create

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solutions for unplanned situations or areas where you need an extra hand. For example, if one of my kids needs help with Spanish homework, I ask another mom to see if we can tackle this together. This way, we can help each other. For work, use your team for help. 3. Be realistic: Many of you can attest that being a new career mom is serious business. It’s a tough gig and it takes time to get acclimated to both roles. Being realistic means understanding that it may take a little longer to get to where you want to be in your career. Plan ahead! Before you know it, your kids will be in school and you will be able to focus more on your career. 4. Find your village: Surround yourself with people you trust and who believe in your dreams and support your goals to succeed in both your professional and personal life. 5. Find your "you" time and quality time with your partner: This is central to keeping your mind fresh and ready to take on each new day. I like to take some time at the end of the day to read a little or do my nails. Other days, a good workout is just what I need to stay creative and innovative. To keep a healthy relationship, I plan date nights with my partner. 6. Work on goal setting: Consider working with an accountability partner. I used to check in with mine weekly. Since COVID, we meet virtually every quarter to make sure we are on track! Find an accountability partner that doesn’t take excuses and encourages and motivates you to get things done! No matter how experienced we are in our respective fields or as mothers, there is still so much to learn. Having someone to talk to is a key ingredient to our growth. Mentors help us see what we don’t see yet, we can also bounce ideas off of one another, and have open, REAL conversations that help us navigate our careers and motherhood journey. Ashley Gravano brings over two decades of success and experience in the title and settlement industry. Gravano joined MC in 2019 as VP of Product Solutions bringing MC’s products to market. Just recently Gravano was promoted to VP of Communications and Business Development at Mortgage Cadence and will focus on expanding the Mortgage Cadence brand through both existing and new industry channels. Gravano serves as an influencer and is well known throughout the mortgage industry for her online presence.

BOOK OF THE MONTH

BOOK OF T HE MON T H LEAN IN:

Women, Work, and the Will to Lead BY: S H E RY L S A N D B E RG

In Lean In, Sheryl Sandberg reignited the conversation around women in the workplace. Sandberg is chief operating officer of Facebook and coauthor of Option B with Adam Grant. In 2010, she gave an electrifying TED talk in which she described how women unintentionally hold themselves back in their careers. Her talk, which has been viewed more than six million times, encouraged women to “sit at the table,” seek challenges, take risks, and pursue their goals with gusto. Lean In continues that conversation, combining personal anecdotes, hard data, and compelling research to change the conversation from what women can’t do to what they can. Sandberg provides practical advice on negotiation techniques, mentorship, and building a satisfying career. She describes specific steps women can take to combine professional achievement with personal fulfillment, and demonstrates how men can benefit by supporting women both in the workplace and at home. Written with humor and wisdom, Lean In is a revelatory, inspiring call to action and a blueprint for individual growth that will empower women around the world to achieve their full potential. •

Spotlights personal experiences of female veterans through interviews

•

Includes cutting-edge research on obstacles female veterans face and solutions

•

Addresses emotional, physical, sexual, social, and financial health issues for female veterans who are single, married, divorced, mothers, culture-diverse, mid-life, and elderly

•

Includes text on resilience for female veterans and how some are becoming leaders in business, politics, and advocacy MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

ASK THE E XPERTS

BETH KECKLEY

Chief Marketing Officer CrossCountry Mortgage If 2020 has taught me anything, it’s that there is a mutual reliance between people and their communities. I have been in awe of neighbors sharing everything from toilet paper to home-cooked meals; inspired mommas who are baking for Lasagna Love or organizing food and clothing drives; teachers embracing new technology so they can adapt to virtual learning; and, healthcare workers who are driven to care for others, even when the risks are significant. When we collectively support each other by lifting each other up and making decisions for the common good, amazing things are possible.

A New Year dawns, and please join me in saying a big YAHOOOO! I’m honestly not sure we’ve ever been so glad to ring the bells and say goodbye to a year. But during 2020, like it or not, we all learned, grew, and changed, both personally and professionally. For me, I learned how to cook as well as how to say “you are on mute” in fifteen different ways. Out with the old, in with the new, and, with that in mind, I asked a truly amazing group of women to look back at the year and share with you the biggest lessons they learned to take forward into 2021 or what could be left behind for good. So grab a big glass of whatever got you through the past year, kick back, and enjoy the insights and inspiration from some of the best and brightest minds in the industry.

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COREY TRUJILLO

VP of Marketing American Financial Network I learned that I don’t actually need to be in the room with someone to connect with them and that people love talking to me 10 times a day virtually much more than seeing me in person once in a while when I fly into town. I also came to realize that showing your humanity (cats, dogs, kids, and bad hair days on zoom calls) helps forge stronger relationships than a quick networking conversation in a crowded room or a presentation on a stage. I plan to leave behind the restrictions of being solely a curated persona and continue to be open to those more human conversations that I believe will make business better and more fulfilling in the future.

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LORI DAY

VP and Director Mortgage, Alerus I’ve always believed in the value of people. 2020 took this belief to a level, never imag-

ined. When we first heard about COVID, we worried that business might stop. If agents can’t meet with clients, what will happen to home sales? Will appraisers and title closers be able to do their jobs? The questions were fast, furious, and concerning. Then, I watched in awe as people transformed our business. We went from paper to paperless, office to home, conference room to WebEx. My belief in people swelled. They shined. In the midst of record setting volume, we paused to determine how we could help others less fortunate. My belief in people swelled. They shined. As we move into 2021, I hope to leave masks and empty hugs behind. We will leave our homes and reunite. Together, we will be a little more empathetic and kind. Together, we will shine.

MELISSA NEW

Digital Marketing Manager Stearns Lending, LLC Looking back at 2020, the lesson that I will take with me into next year is that even though people can be reluctant to change, we are more agile than we think we are. Our company moved from being almost entirely in brick-and-mortar locations to a virtual environment practically overnight in March due to COVID-19. Yet, our teams came together and excelled during that time, and our company has had its best year yet. Even though people can be uncomfortable with new technologies, they can do more than they thought possible and learn new skills along the way. I am going to keep encouraging that growth in the year to come!

KIMBERLY SMITH

SVP, Wholesale American Advisors Group From day one, working moms like myself learn the fine art of juggling priorities like parenting, deadlines, and the overrated act of sleep. And just when we thought we had it all down, along came 2020 to make everything more difficult by taking away childcare and in-person school, along with depleting our supplies of toilet paper and Clorox wipes of which us boy moms rely. This year had me fending off toddlers during Zoom calls and turning closets into emergency conference rooms, all while directing an increase in business. However, as I put this year into the rear-view mirror, I will embrace the lessons I've learned: patience is important for your sanity; keep the perspective of those around you; appreciate your community; learn to adapt; and, enjoy the simplest of moments. Most importantly, we can only care for others when we take the time to care for ourselves.

MARINA BOKSERMAN EVP, Human Resources Guaranteed Rate

2020 has been a transformational year. I have chosen to stay positive and focus on the silver linings! Resiliency, health, family, friends, and community should not be taken for granted. The mind is powerful; so I’ve tried not to surrender to doubt, worries, and fear. Fortunately, we work in a thriving industry and at a company that prioritizes and encourages mindfulness. Our Guaranteed Rate Organization of Women (GROW) offers meditation workshops and webinars that focus on empowering us to maintain work/life balance during this challenging year. One of my favorite pastimes is reconnecting with nature and enjoying the calmness of water, gardening, walks outdoors, and autumn foliage, which have brought moments of stillness, quiet, and an appreciation for kindness. I try to focus on looking ahead with hope that 2021 brings more joy, health, and success!

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

ASK THE E XPERTS

ROBIN CLAYTON

Senior Digital Strategist Paramount Residential Mortgage Group, Inc. 2020 was the year I learned to innovate faster than ever. Record mortgage volume combined with office buildings emptying overnight demanded new processes, new policies, and new systems. I saw leaders struggle and then shift to quickly adapt as they realized the volume wasn’t slowing down, and data strongly indicated their teams were more productive than when stuck in a traditional office environment. Collaborating across the country revealed new ideas and gave more talent a chance to shine, regardless of their geography. Now we are challenged to innovate the customer experience. The way that people shop for a home and evaluate refinancing has also changed. We need to take this to path to pivot, and be empathetic and dynamic. Borrowers in 2020 have different needs, and the lenders who understand the customer journey will be the ones that will succeed in this year and the next.

JELAIRE GRILLO

Customer Relationship Manager Prosperity Home Mortgage, LLC Pivot. Every year I pick a word for the year. Halfway through 2020, I changed it. Pivot become my word. This year I have learned to adjust in ways I never thought I would have to, and, in turn, I have grown far more than any of the previous years. Moving into 2021 I am taking my improved adaption skills and pushing myself farther than I ever have, while leaving behind the notion that anything is impossible. Impossible is just an option and this year, it was not mine. Looking forward to pivoting into 2021!

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CHRISTY SOUKHAMNEUT Chief of Staff/Director of Mortgage Strategic Initiatives Flagstar Bank

Life often throws us curveballs, and that’s not necessarily a bad thing. For years, we’ve been talking about end-to-end electronic mortgage processing. Well, the pandemic helped kick that to the front of the line, while also showing how adaptable we are as an industry. Think garage closings, drive-by appraisals, and car-window notarizations. There were lots of times we had to just trust ourselves, dive in with both feet, and then course-correct as necessary. The year also showed us that creating opportunity for others is a much-needed leadership skill. There’s more room at the table, and we need to pull up more chairs now. What would I like to leave behind? Those chaotic early days of the pandemic when the credit box wouldn’t stay still.

COURTNEY GRAHAM SVP Marketing Princeton Mortgage

It’s okay to slow down. This summer I was on maternity leave with my fourth baby when our company production began hitting record highs. My days were disconnected, I struggled with a lack of “results,” and frankly felt like I was missing out. Over time my perspective shifted. I used to think that being busy was a badge of honor, that if I wasn’t busy or knocking something off my to-dolist I was a failure. COVID-19 and a newborn changed my fast-paced way of life. The distance helped me see how every tactic (even the small ones) fit into a bigger picture, and I began untangling my worth from my work; to be honest, I’m still working on this one.

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The benefits of the slowness have far outweighed the hardship, and to that I am grateful. Our health and the additional time spent at home, even with four kids under six, will be something I cherish for many years.

BROOKE ANDERSON National Business Development Manager Academy Mortgage Corporation

What I gained from 2020 is that I cannot please everyone, but I can do one thing. I learned not to let one’s own expectations haunt you. It is not critical I have everyone agree with me or even like me for that matter. It seems ironic that I have that perspective, as I am in business development. This business sector, known as the dreaded “recruiter,” is often regarded with disdain by many but yet held with regard by C-level executives as an absolute necessity. Being a woman managing a team of professionals in a typically male dominated sector comes with its own set of challenges. This past year brought so many experiences that resonated with me to where they became learned experiences. The one learned experience that resonated with me is that no matter how carefully one plans, how hard one works for something, one cannot control everything or the people around oneself. Like a lot of business professionals, I had all these plans and expectations for 2020. A clear vision of what my life journey would take. I saw my career path. The perspective I designed for my future was based on what I thought the world expected out of me. It was revealed through the 2020 events that I had it all wrong. It’s not about what I think the world expects, it is what I truly and honestly expect out of myself. Once established, I can then help set realistic expectations with those on my team and help each of them achieve their dreams and expectations.

NELL BORMANN Marketing Specialist Waterstone Mortgage

In 2020, I realized that getting creative with how to cultivate and maintain personal relationships with our customers, co-workers, families, and friends was more important than ever. The personal and social engagement that we all enjoyed in the beginning of the year, and quite possibly took for granted, changed dramatically overnight. Strong relationships built on mutual trust, authenticity, respect, and empathy were able to endure through this year’s challenges. I also learned that we need to be novel and think outside the box when it comes to connecting with each other. As we all learn to navigate our new normal, I plan to spend more time nurturing the relationships that really matter to me and finding new ways to engage. I am eager to help my LOs tell their personal stories and make long lasting connection

Sue Woodard brings nearly 30 years of mortgage industry experience, strategic vision and leadership to her role as Chief Customer Officer at Total Expert. Her focus is on helping lenders achieve greater productivity and long-term success. Sue started her career as a processor, became a top originator, then leveraged her knowledge to become a highly acclaimed industry speaker, subject matter expert and technology executive.

MORTGAGE WOMEN MAGAZINE • JANUARY/FEBRUARY 2021

The C-Suite

Nancy Skinner President and Partner A Mortgage Boutique

A Mortgage Boutique, based in Murfreesboro, Tennessee, was founded with the goal of providing a “smaller and better” community mortgage lender in contrast to the larger lenders.

What do you find most rewarding about your job? The most rewarding part of my job is knowing how many people we have allowed the opportunity of the “American Dream” of homeownership. From first time homebuyers to people upsizing or downsizing their homes to refinances to help a household lower their monthly payments or a cash out refinance to payoff bills or make improvements to their property, knowing we have helped these people obtain their goals makes me feel that we have accomplished our job. A home is probably the biggest investment a person will make in their lifetime; we want to make sure we fit the borrower in the best loan program for their needs and make sure they understand and are comfortable with the process from beginning to end.

What time do you get up in the morning? 5:30 a.m.

What do you think will be the biggest challenge facing the mortgage banking industry in 2021? I think we will be facing several challenges in the mortgage industry in 2021. With a new presidential administration coming into office in January to the continuing effects of the COVID pandemic, there are a lot of unknowns. Will rates remain low? Will guidelines be relaxed? Is there going to continue to be an inventory shortage? All these things have a significant impact on the mortgage industry, and while economists can make educated guesses, they are still in fact guesses. We have faced challenges in the mortgage industry for as long as it has been around, to include “Black Monday” in October 1987 to the mortgage meltdown beginning in 2007, but we have always found a way to come back with better opportunities for our borrowers with less risk for all involved.

What is the first thing you do in the morning?

What is the last thing you do at night?

Pet my cats.

What is your mantra?

What time to you go to bed?

Everything happens for a reason.

9:30 – 10:00 p.m.

What is on your desk? Desk planner, phone, and notebooks.

What is your best habit? Making a to do list at the end of the day for the next day.

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A home is probably the biggest investment a person will make in their lifetime.

MORTGAGE WOMEN MAGAZINE â&#x20AC;¢ JANUARY/FEBRUARY 2021

Mortgage Women Magazine January 2021

Articles inside

The C-Suite

Ask The Experts

MORTGAGE MOMS

BOOK OF THE MONTH

New Year, Same You

CAUSE OF THE MONTH

#LEADINGWOMEN

Tech Talk

Movers & Shakers

Trailblazers

The Challenges of Women Mentoring Women

Recruitment Q&A

A Capital Markets Journey

Sat YES to Mentoring

Paving the Way

Women Mentoring Women: Five Steps to Maximize Your Legacy

Breaking the Glass Ceiling into Secondary Markets

You Still Need a Compass Even If You Have a Map

The Power of Women Mentorship

Finding Your Female Tribe

Mentoring It Matters