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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www.MortgageWOMENMagazine.com
“ 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.
