Mortgage Women Magazine July 2020

J ULY/AUGU S T 2020

T HE E V O L U T ION O F T HE F E M A L E L O A N O R IGIN AT O R #LE A D I N GWO M E N :

T W E LV E 1 1 ME DI A

P lus

R AQU E L BO R R A S FOU N D E R O F TRU E TO YOU B R A N D I N G

T R A IL BL A Z E R - T R A C Y A S HF IE L D, P RE S IDE N T OF A C U M A

GE N Z HOME B U Y ING - T HE NE X T WAV E

Published every other month

by Twelve 11 Media, LLC 9720 Royal Lamb Drive Las Vegas, NV 89145 Phone: 512.879.4363 Email: INFO@MortgageWOMENMagazine.com www.MortgageWOMENMagazine.com

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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SERVING THE MORTGAGE BANKING COMMUNITY FOR MORE THAN THREE DECADES 202.628.2000

PROVIDING COUNSEL TO THE FINANCIAL SERVICES INDUSTRY FOR MORE THAN THIRTY YEARS SERVING THE REVERSE MORTGAGE INDUSTRY SINCE ITS INCEPTION

202.628.2000 WASHINGTON DC | DALLAS TX | IRVINE CA

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F ROM T HE E DI T OR Dear Mortgage Women,

PUBLISHER | Ben Slayton BSlayton@Twelve11Media.com MANAGING EDITOR | Leora Ruzin LRuzin@Twelve11Media.com SENIOR EDITOR | Jill Emerson JEmerson@Twelve11Media.com OPERATIONS DIRECTOR | Dawn Slayton Dawn@Twelve11Media.com DIRECTOR OF ADVERTISING David Hoierman Hoierman@Twelve11Media.com NATIONWIDE ADVERTISING Vanessa Williams Vanessa@Twelve11Media.com PRODUCTION | Henry Suchman HSuchman@Twelve11Media.com DIGITAL MEDIA | Lucas Luna Lucas@Twelve11Media.com COLUMNISTS & CONTRIBUTING AUTHORS Bobbi Jo Dallas Karen Deis Ashley Gravano Kristi Hardy

Cindy Silva Cindy Smith Sue Woodard

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 REGINA LOWRIE PRESIDENT & CHIEF EXECUTIVE OFFICER RML ADVISORS SARAH BOWERS, CRCM, CMB, CAMS COMPLIANCE ADVISOR COMMERCE BANK DEBRA STILL PRESIDENT & CEO PLUTE MORTGAGE

It has only been four months since our last issue was published (we missed you all!), but in so many ways, it feels like it has been a lifetime. When I look back at that issue, which was finished at the end of February, not one word was uttered surrounding the pandemic. In addition to COVID-19 still being a global threat, our country is dealing with civil unrest, discussions are taking place that are seeking to further divide our citizens, all while we are gearing up for one of the most polarizing presidential elections we have ever experienced in our lifetime. 2020 will be a year that historians will be talking about for generations to come.

Without sounding redundant, it really is hard to believe that at the beginning of this year, we had no idea what was to come. During so much turmoil, uncertainty, pain and disruption, it is no surprise that we have all had to make concessions and difficult choices in order to ensure survival and sustainability. This is not only present in our personal lives, but also in our places of business, relative industries and even future decisions that we make.

For so many, the only safe haven we can find right now is through the comfort and reliability that comes from having a place to call “home”. Our homes have not only become our sanctuary and our primary location for isolation, it has also been transformed into a defacto office for millions. While housing finance has been the bedrock of our economy for decades, the need for sustained access to stable housing is now more important than ever, and our industry has risen to the occasion.

In this issue, we wanted to highlight what women in housing have done to answer the call, and our contributors did not disappoint. From actionable tips on how to improve your originations game, to what is being done to combat a potential servicing crisis, this issue is packed with content that will help us all continue to bring our “A Game”, while keeping our eyes on the future.

While I miss attending conferences and having the kind of interactions with my peers that can only be best conducted in-person, I have been impressed and amazed with how we have quickly adapted to having these interactions in a digital setting. I am grateful to have the opportunity to continue to advocate for sensible housing reform and strong policies that help the American people keep their homes, all while doing it from the comfort and safety of my own house.

The professionals in our industry continue to amaze me with your strength, enginuity and passion during this time. We will get through this, as long as we remain a unified front and stay positive. I can’t wait to see you all again and give you all so many hugs….soon.

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.

COV E R S TO RY

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JULY/AUGUST 2020

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F E ATU R E S

8 A Tale of Two Crises And One of Opportunity C I N DY S I LVA

12 How to Reconnect with Past Clients Using the Annual Real Estate Review Strategy

K AREN DEIS

16 The Three Most Powerful Lessons I Learned Becoming a Top Producer

K R I S TI H A R DY

20 Gen Z Homebuying - The Next Wave

BO B B I J O DA LL A S

24 An Interview with Kathryn Davis, CEO of Valley First Credit Union

LEO R A RUZI N , C M B

20 IN EVERY ISSUE 4 EDITOR'S FOREWARD 30 MOVERS & SHAKERS

34 #LEADING WOMEN RAQUEL BORRAS

36 TRAILBLAZERS

TRACY ASHFORD 40 ASK THE EXPERTS 43 CAUSE OF THE MONTH 44 MORTGAGE MOMS 46 HOLISTIC WELLNESS 48 BOOK OF THE MONTH

STRONGER TOGETHER Lindsey LaCoste QLMS Account Executive

Amanda Stevenson Loan Officer Answer Home Loans Granite Bay, CA

Call (888) 762-5035 QLMortgageServices.com/StrongerTogether Equal Housing Lender. Licensed in all 50 states. NMLS #3030

A TA L E O F T W O C R I S E S - A N D O N E O F O P P O R T U N I T Y

y t i n u t r o Opp

A TALE OF T WO CRIS E S — AN D O N E OF

BY C I N DY S I LVA

Three months ago, the entire world of servicing changed in an instant as the COVID-19 pandemic led to millions of job losses and a mountain of forbearance requests. Before that, nobody could have imagined where we would be today. But even as businesses around the country begin to reopen, it’s clear COVID-19 will continue to impact our lives and our work for some time.

And yet, with every crisis, difficulty, or challenge, we know there are also opportunities to learn, grow, and improve. That applies to every company in our industry. It also applies to people, and I would argue, women in particular, especially those of us who have had to pull double duty by working from home and raising families. Which is why I believe the challenges we’ve faced over the past three months will undoubtedly lead to a greater opportunity to develop professionally and become leaders.

A Feeling of Déjà Vu

The Great Recession and the foreclosure crisis were still happening when I entered the mortgage servicing industry a decade ago. Starting my career in customer service, I clearly remember the emotional calls I had with upset borrowers; in fact, I can still hear them today. It was a very tense time. All I

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heard were complaints from borrowers who were facing foreclosure, many of whom felt they weren’t getting support. I wasn’t alone; it was happening at every mortgage servicer.

Ten years later, I’m hearing those same voices, seeing the same emails, and experiencing the same uncertainty and desperation.

It is déjà vu in a certain sense. Servicing professionals who experienced the past crisis are now finding themselves once again in the difficult position of being both the person who can help borrowers and the target of their ire.

But there are key differences, some subtle and others not. For example, troubled borrowers today are more willing to try anything they can to get a response from their lender or servicer.

They’ll try any email they can find, even if it’s a salesperson’s email. Even when they know someone isn’t the right person to speak to,

BY M E G DA I LY

they feel it’s at least somebody.

The biggest difference, obviously, is that nobody saw this crisis coming. Before the Great Recession, servicers could at least see where things were headed and that trouble was on the horizon. Even though many servicers still did not prepare, there was at least time to do so once it began. The pandemic, on the other hand, was such a sudden hit there was no time to even brace ourselves. Borrowers literally left work on Friday, and on Monday found out they were out of a job.

In fact, at no time in American history have so many people been laid off from work in such a short period of time. Over the past three months, roughly 44 million workers have filed jobless claims, which is more than one in four American workers. Meanwhile, 4.3 million borrowers already have forbearance plans, according to the Mortgage Bankers Association.

There are some helpful differences between today and 2008, however. For instance, our industry has much stronger regulations in

place to prevent the type of economic fallout we saw during the foreclosure crisis. There have also been countless improvements in mortgage servicing operations, including the widespread adoption of technologies such as automation and process improvement, which have made it possible for servicers to scale quickly and more efficiently to reduce costs.

Thankfully, the federal government is acting much faster as well, primarily by placing a moratorium on foreclosures and evictions and giving borrowers the option of putting off their mortgage payments. These steps will undoubtedly help millions of Americans suffering job losses and financial difficulty to stay in their homes. But this relief won’t last forever; and, for many, it won’t be enough.

It’s a near certainty we will see a large spike in loan delinquencies and defaults post-moratorium. While many people are going back to work, others have no jobs from which to return. For them, there is no light at the end of the tunnel, and no telling where things will end.

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A TA L E O F T W O C R I S E S - A N D O N E O F O P P O R T U N I T Y

Where Things Are Heading

While today’s crisis has been more sudden and unexpected, we have found that many lessons we learned from 2008 are applicable today, which is why a lot of companies have been able to respond quickly. Yet many other servicers have been ill-equipped to handle the enormous wave of forbearance requests because they failed to make the proper technology investments or align themselves with partners that could help them scale quickly when needed.

Many companies, like my own, have been asking how they handled similar issues during the last crisis. Similar to 2008, we are seeing the importance of communicating with borrowers and rolling out assistance quickly. For example, we just created the ability for borrowers to apply for and immediately receive forbearance online by providing just a couple of pieces of information. We are also seeking guidance from federal agencies on which loss mitigation options to follow once borrowers emerge from forbearance, whether that happens in three months or a year from now.

As we move forward, I think we will find the organizations that are able to survive the FHFA’s forbearance program will be those that have demonstrated the ability to adapt quickly to the changing environment. Often, these are the smaller companies that are best able to rise to the occasion and maneuver through difficult times. Smaller firms in general have more flexibility and wiggle room to customize their services to fit what their borrowers and business partners need, because they typically do not require the lengthy legal reviews that can take larger organizations three months or longer to complete.

Organizations that have made the proper investments in technology will also come out

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ahead. My own company has made significant investments in technology over the years.

So when the pandemic hit, we were able to quickly transition our team to work from home because we had the tools to make it happen.

From an operations perspective, video conferencing is also a big difference between 2008 and today, which servicers can use to remain productive and stay in touch with their teams.

Many larger firms, on the other hand, have had trouble transitioning to at-home workforces and are scrambling to find the right platform to use.

Many of today’s servicers are also taking lessons learned from the recent wave of natural disasters, which have created sudden spikes in borrower requests for assistance. For instance, mobile technologies were not really prevalent during the housing crisis. But during recent wildfires and floods, mobile apps have proven to be extraordinarily effective at opening up communication between servicers and borrowers. These tools are now helping both borrowers and servicers stay connected during today’s crisis.

Social media platforms are also playing an important role in the current environment, as are new technologies such as artificial intelligence and robotic automation. Servicing organizations that have adopted and implemented these technologies have been able to increase their decision-making speed by more than 50 percent, and sometimes as high as 60 percent. In the weeks and months to follow, servicers that are leveraging these tools to help borrowers as they come off forbearance plans and begin considering loss mitigation options will undoubtedly find themselves ahead of the curve.

We can also expect to see the increasing use of technology to help determine which borrowers may need help but have not yet asked

A TA L E O F T W O C R I S E S - A N D O N E O F O P P O R T U N I T Y

for it. For example, new servicing platforms are capable of analyzing a borrower’s payment activity and finding anomalies that may point to the need to proactively reach out to them to offer assistance. Fortunately, servicing organizations that have not fully embraced these technologies still have time to do so, and thereby reduce losses as the risk of defaults increases in the coming months.

The Doors Are Open for Women

We have seen many articles come out since the pandemic began that talk about how difficult times lead to opportunities. It’s definitely true in our industry. I think it’s particularly a great time for women in the servicing industry to become leaders.

In my own case, mortgage servicing is the only business I’ve ever known. I got an opportunity to work in mortgage servicing straight out of college and took it because I wanted a secure career and didn’t have much work experience.

But I stayed in the industry because I found it incredibly fulfilling. I especially enjoy how, during a crisis, more people are willing to join together, step up, and try to do the right thing for every borrower.

Personally, I enjoy working with people faceto-face. I know that everything we do, no matter what role we’re in, involves people who could be our neighbor. And these situations are real life; every decision we make impacts somebody directly. I really appreciate having that kind of impact, even if it’s not direct, because I know I am making a difference in some way.

I also think this particular crisis is showcasing how powerful women professionals really are. Women like myself who work full-time and are also raising children have found balancing the two roles extremely challenging. All things being equal, mothers are often the parent that

young children turn to first when they need something. Many women, like myself, have to work and take care of their kids, which is basically two full-time jobs. The fact that we are still getting both done is amazing. It gives you that extra motivation because we realize we can do more than we thought.

The pandemic, along with the questions that we as a nation have been asking recently, is also providing an opportunity for leadership within companies to examine themselves.

Are we diverse enough? Do we have enough women in management? Do we have enough diverse voices in our company? More companies are now looking at their executive board with the understanding that potential customers and business partners are judging them based on what their board looks like. Is it comprised of older white males, or are women and minorities also represented? Obviously, we should have been answering these questions much sooner, but it is certainly a great time now.

People are watching and listening to what we in the mortgage servicing industry are doing every day. Now that we have everybody’s attention, if there’s ever a time for women leaders to rise and take charge of their destinies, in the mortgage servicing industry or any other sector of the business world, it’s now.

Cindy Silva is the Director of Sales for BSI Financial Services, a leading provider of technology and outsourcing services to banks, private equity firms and hedge funds in the residential mortgage sector. She has over 10 years of experience in the mortgage servicing industry in sales and business development, client management and MSR acquisition. She can be reached at csilva@bsifinancial.com.

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H O W T O R E C O N N E C T W I T H PA S T C L I E N T S

HOW TO RECONNECT WITH PAST CLIENTS USING THE Ann ual Real

y g e t a r t S w e i v e R e t a t Es D

BY K A R E N D E I S

o you identify with any of these marketing scenarios?

Your CRM sends a monthly email to your past clients. Do they respond to your email and thank you for the information? Do you respond back and offer them “something of value”?

One of your marketing strategies is to call five past clients per week. Other than asking for a referral or letting them know what’s happening in the mortgage world, are you offering them “something of value”?

You post something on social media and you get a comment from a past client. Do you private message them and offer them “something of value"?

Well, if you are looking for a way to stay in touch and provide valuable information to your past clients, consider implementing an Annual Real Estate Review Strategy.

Here you will find the detailed outline; and, in a nutshell, it’s a way to provide the current market

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H O W T O R E C O N N E C T W I T H PA S T C L I E N T S

value of their home and also reconnect with the real estate agent who sold them the home.

•

Call the real estate agent and let them know that you are working with their past client and you would like to provide the past client an updated Comparative Market Analysis (CMA).

•

If you find the original real estate agent is out of the business, or the deal is a refinance, choose another real estate agent. It could be someone who currently gives you referrals, a new agent you have wanted to do business with, or an agent who regularly works that subdivision or farm area.

•

In addition to the CMA, provide your client with their

current assessed value and current property taxes.

•

Also, include the property taxes and assessed values of the other real estate properties used in the CMA report. The reason? It gives them the opportunity to compare their taxes/assessments with those of their neighbors.

•

Ask your real estate partner to include the most recent MLS statistics on home sales in your area.

•

Include a cover letter telling them why you are providing the Annual Real Estate Review™.

•

Mark your database to provide an Annual Real Estate Review once a year.

SAMPLE COVER LETTER – ANNUAL REAL ESTATE REVIEW TM annual basis ide to you on an ov pr I es ic rv se Hi! One of the IEW. AL ESTATE REV RE L A U N N A e called th

is a report

t?

What is it all abou

ent value of e estimated curr th of s si ly na A apt e Marke . It’s not a formal ea ar ur It’s a Comparativ yo in s le d on other sa you an idea estimate to give your home, base an s It’ e. lu va te e absolu home. praisal. It’s not th or refinance your ll se to de ci de u of the value if yo the real ____________, __ __ __ __ __ __ ed by ____ t info here.)

It’s being provid e. (Provide contac m ho ur yo u yo sold estate agent who the busiked with is out of or w ly al in ig or u _, tate agent yo ______________ __ __ __ Since the real es __ __ to to introduce you ness, I would like u. y questions for yo an er sw an n ca who of your home assessed value e th on n io at ty taxes d inform e report. Proper th You will also fin in ed ur at fe those homes compared with d. are also displaye tics.

MLS sales statis nt ce re t os m e or provide ) has included th s to them here, (Name of Agent at st s le sa LS M explain estions.)

(You may want to ber to call with qu m nu e on ph t’s the agen for my y way – and look an in u yo lp he ow if I can Please let me kn xt year! te ReviewTM ne Annual Real Esta quesif you have any t en ag te ta es me or the real And, please call tions.

OR

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H O W T O R E C O N N E C T W I T H PA S T C L I E N T S

A couple of notes here: •

What if the value of their real estate has decreased? Tell them. They are going to find out sooner or later. Let’s say YOU have gone through the agonizing process of deciding to sell your home. You call the real estate agent and find that the value has decreased. Would you be upset?

•

By letting your customer know the value on a continual basis, they have time to absorb the “truth” and can make a more informed decision if they decide to sell or refinance.

•

•

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•

Check with your compliance department.

So, the next time a past client contacts you or replies to your email or social media post, Ccall, email, or private message this statement…

“I am providing my past clients with an Annual Real Estate Review where a real estate agent can provide you with a comparative market analysis of the value of your home and most recent neighborhood sales.

Would you like me send you a report?”

If you think about it, this strategy is comprehensive and simple by:

What if the real estate agent doesn’t want to provide the CMA or balks at showing the client the value of the real estate now? The National Association of Realtors® reports that when it’s time to list a home for sale, at least 60 percent of the time the seller lists their home with the very FIRST agent they interview.

You are instrumental in keeping the agent’s name in front of your clients. Or, if their Realtor® is out of the business, introduce them to a new agent.

•

Offering something of value.

•

Reconnecting with a real estate agent or connecting with a new one if the original agent is out of business.

•

Providing information on an annual basis.

•

Discovering opportunities for refinance selling home and buying another one.

Be sure to keep detailed notes in your database of which agents provided the CMA. The worst thing you could do is use a different agent year after year.

Consistency is the key.

Karen Deis is a mortgage marketing strategist as well as a mentor and coach for Women Mortgage Loan Officers. An author and speaker, she created the Mortgage Women Speakers Bureau as a one-stop website where top women experts in the mortgage industry can easily be discovered and hired to speak.

www.MortgageWOMENMagazine.com

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THE THREE MOST POWERFUL LESSON I LEARNED

t s o M e e The Thr ons ss e L l u f Power d e n r a e L I BECOMING A TOP PRODUCER

BY K R I S TI H A R DY

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THE THREE MOST POWERFUL LESSON I LEARNED

S

ince I first started in 2004, the landscape of the mortgage industry has dramatically changed over the last couple of decades. There appears to be more women mortgage professionals than ever before, and women are learning how to work smarter through tools like social media, video, and technology to live more balanced and fulfilled lives.

Admittedly, this doesn't mean that our industry isn't still maledominated, but increasingly, women mortgage professionals are growing in numbers, as is the number of women top producers.

As someone who has learned how to grow her career while still balancing her personal life as a wife, mother, and as an individual, I wanted to share three powerful lessons I've learned that you can use to grow your career.

Indeed, these lessons won’t solve everything, but I genuinely believe that implementing them in your own life can not only build your business but also enrich your quality of life.

LEVERAGE SOCIAL MEDIA

Leveraging social media sounds like a no brainer, but it can be daunting when trying to sort through which platforms to use.

Choose Your Platform

Facebook, Twitter, Instagram, LinkedIn, and a myriad of other social media platforms all provide different ways to foster a relationship with customers and colleagues. With so many platforms to choose from and knowing that we all have busy schedules, it can be a challenge to determine which one is the right fit for you.

The best decision I made was to focus on one platform at a time. For me, this meant starting with Facebook. I chose Facebook because I felt like my audience spends most of their time on this platform, and Facebook is also where I felt the most comfortable sharing content and connecting with people.

What and How to Share

Once I determined which platform to use, I then had to decide what I wanted to share and, more importantly, how much I wanted to share.

While everyone has different comfort levels around how personal they get, I decided to share more rather than less.

Without oversharing, I always try to be transparent, personable, and authentic. More importantly, since I’ve allowed myself to be vulnerable, I've learned that making small mistakes is ok and that the regret of not saying how I feel is far worse than not saying anything at all because of the fear of failing.

How to Deal with Naysayers

Because I am more open, there are rare occasions where I've had to deal with people trolling my posts, but I've also learned not to allow those few individuals to deter me from connecting with far more people positively. Instead, I block and report them and then move on, knowing that most people I interact with are great.

Overcoming a Perfectionist Mindset

At first, I strived for perfection in my social media interactions. I would labor over every post, especially when I would try and do video. Sometimes I would spend an hour trying to create a short video because I wanted it to be "perfect." Every piece of clothing, every strand of hair, and every turn of the phrase needed to be just right before I'd post a video online. I'm sure my fellow “Type A personality” loan officers can relate.

After a while, I realized that I could spend all day trying to achieve the perfect message, or I could set perfection aside and focus on engaging with people in a real and meaningful way more often.

As someone with a wonderful husband and two incredible boys, I realized that just like a perfect house doesn't make a perfect home, a perfect post

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THE THREE MOST POWERFUL LESSON I LEARNED

doesn’t make for a genuine connection. Perfection is not what leads to connection, so don't worry about being perfect. Focus on simply being yourself, getting your message out there, and building positive relationships with your audience.

UNDERSTAND AND USE ALL OF YOUR RESOURCES

One of the most critical aspects of success is understanding what resources you have at your disposal and how to use those resources.

We had a nanny during the day to help us for the first year and a half after my boys were born. One day, I came home and realized that I was paying someone else to live the life I was working so hard to achieve. That same day, I decided to start living the life I wanted, so instead of spending money on the nanny, I started working to build my team.

Build Your Team

During those early days, I realized that if I wanted to accomplish my goals fully, I would need to surround myself with the best assistant and topnotch production team members.

Focus on What Matters and Let Go of The Rest Aside from building my team, the other big lesson I

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had to learn was how to let go of some of the things I'd always done on my own. I began to understand that you have to assess your processes and workflow to determine where it makes the most sense to spend your time and energy. With that in mind, I now employ the 80/20 rule, which means that if someone can do something 80 DURING THOSE EARLY DAYS, I REALIZED THAT IF I WANTED TO ACCOMPLISH MY GOALS FULLY, I WOULD NEED TO SURROUND MYSELF WITH THE BEST ASSISTANT AND TOPNOTCH PRODUCTION TEAM MEMBERS.

percent as well as I can, then I should let them do it. As I've learned to implement this rule, I've also realized that when you're working with an exceptional team, more often than not they'll do the work better, because they're simply doing it more often.

Think Big Picture and Build Relationships

While building a team can lead to an increase in production, it should also free you up

to grow more relationships, while also focusing on big picture goals. That doesn't mean everything becomes easy, but over time you'll begin to expand your vision and develop better relationships that allow you to grow your business.

Create Clear Processes

I'm a list maker, and I always have lists running through my head that I need to check off.

An easy way to help me do that was to create a team email that everyone on my team can see and access. While I always have a team member who takes point on responding to emails, I can still see what comes in and what goes out.

This level of visibility allows me to step in when I feel it's necessary to augment or help support one of my team members.

It also gives me the ability to add that extra touch of personalization to help strengthen the relationship with my customer.

BE FORWARD FOCUSED

Growing as A Leader Along with delegation comes the shift to more of a leadership role. It's no longer just you running the show; now you have others helping to carry the load who are also eager to learn and grow. From the outset, I recognized that even though I was killing it in terms of production and business, I also wanted to be the best

THE THREE MOST POWERFUL LESSON I LEARNED

leader possible for my team.

This desire led me to look for a great coach. Someone with proven experience and expertise that I could confide in and who could help me overcome obstacles and spot potential roadblocks before they popped up. While most of those who know me recognize that I'm a strong and confident person, some would be surprised to know that I work with a coach.

I firmly believe that everyone can be better and do better, and having a coach is one of the key areas that has led to my continued growth and success.

Always keep in mind that even Olympic and professional athletes have coaches, and they're the best in the world. As I'm getting coached, I'm able to be a better coach for my team.

Follow Through is Key

One of the most helpful pieces of advice I can give someone is to know your worth. That means following through on promises and goals you set for yourself and give yourself the environment you need to succeed. If you find that you’re not stepping into a supportive culture, you’ll either need to create one or go somewhere that is. Along those same lines, understand that what you do and what you say matters. So be the type of person who always follows through on your word.

Always Turn in Great Files

Along with following through on your word, is making sure that your word can be trusted. Here’s a final example that demonstrates why your word is so important. Turning in files can be one of the biggest time-sucks of your business, so make sure you vet them thoroughly. If a file goes bad in IF YOU FIND THAT YOU’RE NOT STEPPING INTO A SUPPORTIVE CULTURE, YOU’LL EITHER NEED TO CREATE ONE OR GO SOMEWHERE THAT IS. SO BE THE T YPE OF PERSON WHO ALWAYS FOLLOWS THROUGH ON YOUR WORD.

processing or underwriting, it can consume your whole day or even a few days to get it back on track. My position is that I don't write an approval letter without reviewing everything as if we've pretty much underwritten the file already.

While this is more work on the front-end, it always pays off in the long run. My team, referral partners, and clients know that I won't write an approval letter unless it's going to close. One of the key reasons I believe I've

been voted best of Loudoun nine years in a row is because everyone knows my word is golden.

Be an Industry Changer

I'm fortunate that I'm with a company that leverages social media, has a first-class operations team, and provides me with the latest technology and marketing automation tools. All of these crucial components give me the tools I need to continually grow and streamline my homebuying process for clients and referral partners. It also empowers me to have more personal and meaningful communications with clients on a larger scale than I could do on my own.

I've worked hard to create a business model that makes sure everyone I interact with feels valued and special because the simple fact is they are. The final thought I'll leave you with is to make sure you are working with a company that has the same high level of character, integrity, and forward-thinking mindset as you do.

Kristi Hardy is VP, senior loan officer at Atlantic Coast Mortgage.

With over 25 years of experience in consumer lending, Kristi Hardy has been voted “Best Loan Officer” in Loudoun 9 years in a row by Leesburg Today/Loudoun Times-Mirror.

She enjoys traveling and spending time with her family and two King Charles Spaniels.

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G E N Z H O M E B U Y I N G - T H E N E X T WAV E

e v a W t x e The N

GEN Z HOMEBUYING

AT TR AC TI N G TH E G EN Z H O M EBU Y ER: TH E I R SO M EDAY COU LD B E TO DAY In 2019, the last class of millennials graduated from college. As a result, in 2020, we are beginning to see a brand new generation start to enter the workforce.

That’s me – a Gen Z.

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BY B O B B I J O DA LL A S

For many years, the chatter in the industry has revolved around millennials. What are they like?

How do they process information?

What are their consumption patterns? And in what ways will they change the ways of home lending? Just when you think you have begun to understand the millennial generation, it’s time to start asking those same questions all over again about our newest, upcoming generation, Generation Z. It is clear the borrower is changed forever, and we need to alter our strategies, journeys, and conversations to adapt.

I just recently went through my own homebuying journey, and I can honestly say that this process was, in fact, a journey. To give you

some background on me: I’m 21 years old, working my first full-time job, one year out of college, and have only ever rented. Where do you even start? Can I even afford this? There is no way I have enough money saved up for a down payment. I grew up with both my parents in the mortgage industry, and, still, I felt like I had no idea what I was doing throughout most of the process. I had never before owned my own home, and I had no idea if I could even afford a house by myself. But, the one thing I did know for sure was that I could not stand renting anymore.

For most Gen Z’s like me, this is the exact thought process that goes on in their minds. Now, don’t get confused. We all dream about owning a home someday, but the problem is that we tend to dwell too much upon the word “someday.” Homeownership seems like something that has to happen in the far distant future, something that we have to wait for until we have the perfect family or the perfect career or the perfect friends, you name it. We tell ourselves all these excuses, well, because no one has ever told us differently.

What if you were the person who decided to change that? What if you were that one person to tell us the truth: that “someday” could be today. I am convinced that if we can adapt our marketing strategies to show this generation that homeownership is in reach, the market would see a new wave of borrowers ready to take the plunge.

I have provided three pieces of advice for you as you start to think about how you may adapt your marketing strategies to reach this new generation.

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G E N Z H O M E B U Y I N G - T H E N E X T WAV E

Slow it Down

A Google search revealed to me that there are only six steps to getting a mortgage: 1. Pre-approval; 2. House-hunting and purchase agreement; 3. Loan application; 4. Processing; 5. Underwriting; and 6. Loan approval and closing.

What Google failed to actually tell me is that there are about 15 other steps that go into each of those six steps. The number of steps that make up the mortgage process is completely and utterly overwhelming for any young person. Yet for most of you, this is all second nature.

For the majority of young adults coming out of college, they will have never been taught this in school. I graduated college with a bachelor’s degree in Business Administration Finance and I was never once taught about the homebuying process or the mortgage industry. This is all foreign to many of us. As Gen Z’s start to pique interest in buying a home, make sure you remember to slow it down. When it comes to buying a home, there are a million moving parts. There are timelines, government regulations, and compliance restrictions that urge you to move quickly through this process. But you will lose young buyers in the process if you cannot present each step in a manner that they can understand and process for themselves. Ask yourself this: would a Gen Z be able to under-

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stand your mortgage process the way it is today? Nine times out of 10 that answer will be no. I challenge you to write out each step of what the mortgage process looks like within your organization. Start with a title and brief description of each step. Then, ask someone under the age of 22 to read it and see if they can understand.

Can they? If they can’t, you may want to go back to the drawing board.

Teach and Educate

One of the first things that I noticed throughout the homebuying experience is that most people I worked with just assumed I knew what they were talking about. My second piece of advice: never assume.

Never assume we know what you’re talking about. More often than not, we have no idea. For instance, what is a DTI, VOM, and VOE? Sounds like a new language you made up so that you can talk in code word. I have to provide my paystub?

My tax return? I just filed my first tax return, ever. Next, where do I want to live? I don’t have any kids. Do I try to live close to school, work, freeways, or public transit? What neighborhood is the best? Is it safe? Will I like my neighbors? There are so many questions that we don’t know the answer to and we leave it up to the experts (that’s you!) to help teach and educate us throughout the process.

Education can mean many different things. When working with Gen Z’s, two specific scenarios come to mind. There

is education during the prospecting phase and education during the customer journey.

What does this look like? This could mean adapting your marketing strategy to focus on more educational language and content during that lead generation phase. It could also mean taking on the role of an educator and teacher throughout the homebuying process. If you want to effectively market to this upcoming generation, your marketing strategy will need to look a bit different. The language you use should and will sound different when targeting this generation. It should be easy to read, educational, targeted, and specific. If you don’t know where to start, think about creating a marketing journey that specifically targets leads that fit into the Gen Z persona. Does your content and messaging look any different? It should. As you start to see more GenZ’s pique interest, seek to be an educator. Start with the basics and build from there.

Combine Digital Experience with Human Touch Generation Z, better known as the iGeneration, are true digital natives and are extremely socially connected. If you think about it, we were too young to remember the tragic events of 9/11. We weren’t financially responsible or directly impacted by the Great Recession. And most notably, we were born online with an iPhone in our hands. The iGeneration is growing up in an “always on” tech-

nological environment where there are massive amounts of information at the touch of our fingertips. We were born to process insane amounts of information and are impatient if it isn’t a click away. On 24-7365, we want it when we want it, where we want it, and how we want it. We don’t just want a digital experience; we expect a digital experience from every lender and realtor. According to The Future of Commerce, 95 percent of teens report they have a smartphone or access to one. Gen Z’s also spend an average of 11 hours per week on their mobile phones. If you are not leveraging technology or creating a quick and easy digital experience for your Gen Z buyers, you will not retain their business. When I first started the process by researching different lenders, I would immediately be turned off by the experience if I found that a website to be too hard to navigate, the process too difficult to understand, and the prequalification process too long. We expect a seamless digital experience in this day and age; however, we also deeply desire relationships and face-to-face communication. According to the Professional Convention Management Association (PCMA), 72 percent of Gen Z’s prefer face-to-face communication. We like to touch base often and desire regular feedback. We like to see connectedness and context because we thrive on genuine relationships. What does this mean for you? Technology is here to help, but you still need

to invest in those genuine human connections. Assess your customer journey. Where are you spending most of your time? Can technology free up some of your time so that you can really invest in those genuine relationships?

It’s a journey. On May 15, 2020 I closed on my first home.

I hate to admit it, but you were right; there is absolutely no feeling like it. I wish more people my age would experience homeownership, and I truly believe that more of us can.

But to do so, we need to adapt our marketing strategies and communication styles to reach the heart of this new, upcoming generation of homebuyers.

What does a Gen Z’s homebuying journey look like at your organization? If you don’t know, I encourage you to find out!

Bobbi Jo is a true enthusiast, with a love for helping people and seeing them succeed. Along with her background and education in finance and leadership, her passion makes her the perfect fit to head up Customer Experience and Engagement at Total Expert.

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THE RISE OF WOMEN IN CREDIT UNION C-SUITE POSITIONS

BY LE O R A R UZ I N , C M B

Kathryn Davis has been President & CEO of Valley First Credit Union for just over a year and has already made her mark in this short period of time. Her passion for education, advocacy and lending drives her decisions, and that passion is felt in everything she does. With her vision, the storied credit union is entering a phase of re-birth and evolution, and it is no surprise that her guidance has been exactly what was needed, especially in the last six months. Interviewing her for this feature was a great honor for me, not only as the managing editor of the magazine, but also as one of her newest employees.

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A N I N T E R V I E W W I T H K AT H R Y N D AV I S

AN IN T E RV IE W

with

Kat hr yn Davis P RE S IDE N T & C E O OF VA L L E Y F IR S T C RE D I T UNION

MWM: It is clear based on your resume that you live and breathe the credit union mentality. What is it about the credit union business model that has resonated so well with you? When did you know that this is where you were meant to be?

Kathryn Davis: This will probably sound cheesy, but it really is the motto of “people helping people” that resonates with me to this day.

I love the philosophy around the cooperative financial model and think it’s even more relevant today.

Like most people in the industry I accidently landed here and then just fell in love. The opportunity to help members lead better lives as a result of the products and services we’re able to offer them

is what has kept me engaged all these years. I’ve had the good fortune to spend the past 13 years specifically focused on financial health and feel so blessed to have a career working with other likeminded people to create better lives for others.

MWM: You have held senior-level positions for over 20 years, during times in our country of financial distress, prosperity, and everything in between. How much has the credit union space evolved during this time, and how has real estate lending evolved with it?

KD: Credit unions have greatly evolved over the past 20 years, especially when it comes to payments and online delivery,

which has been exciting to be a part of. I feel like we’re still in the early stages of real estate lending, which seems silly to me based on our long history in the space! I still see so many credit unions offering vanilla products and services. I also think we’re missing an opportunity to help families generate wealth through niche first time homebuyer programs, ADUs, and even rental properties. The technology piece also has gaps in it, especially when you compare it to some of the national real estate lending players. I would love to see the credit union industry evolve to be a larger player in the mortgage space. I think there is more for us to do and believe it’s something we could excel at!

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MWM: Some would say that during times of change (both positive and negative), credit unions tend to be the last on the change train, and are less apt to pivot to different business models quickly. As the CEO of Valley First Credit Union, who just finished your first year with the company, you have worked to change that narrative. Can you speak to some of the positive changes you have made during your first year, and some of your proudest moments? What is on the horizon?

KD: Sadly, we are slow adopters in a lot of areas and I’ll also say that a lot of credit unions don’t uphold their original values either. It’s a lot of work to always be pushing the envelope and I think some CEOs get very comfortable just doing the status quo. There’s a whole movement happening around social impact work in the financial services sector, it’s surprising to me that’s not being led by credit unions given our roots.

I’m really inspired by what I get to do every day and am working on re-shaping our vision around banking with a purpose.

We’ve historically done a great job for our members, but by in large have been very vanilla in our approach. Today we want to have a more meaningful impact in the communities we serve.

This was a key theme in my first strategic planning session with Valley First where I challenged the Board and Senior Team to

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think about our purpose -- Purpose is not initiative; it’s a way of business. I want our purpose to be core to the decisions, conversations, and behaviors across all levels of the organization.

Now, more than ever, I believe we must cultivate the power of purpose if we are to succeed in a world where the opportunities and responsibilities of business have never been greater.

This lead us down the path of wanting to become a CDFI. It’s also prompted us to put all our decisions through a lens of “does this improve the lives of those we serve and reside in our community?” We believe that we have the unique opportunity to change lives by delivering socially responsible products and services committed to economic growth.

Despite the stress and uncertainty of COVID-19 we actually got to put this philosophy into action most recently. Like many credit unions, we were quick to help our members through emergency loans, fee waivers, and loan skip-a-payments, but we also saw the gap in how small businesses were being served in our community. This prompted us to apply for a conditional approval from the SBA to offer Paycheck Protection Program loans. We had the opportunity to help hundreds of businesses who did not have access to these funds by lending close to $20 million in these loans. We also partnered with

Stanislaus County Workforce Development and helped them facilitate a Small Business Relief Program where we disbursed over $3.1 million in micro grants to small businesses. These are examples of how we’re changing how we serve, which has been such an inspiration over the past 12 months!

I’m excited about the future and as you know a big part of that is growing our real estate lending program. I want to help create more homeowners and I also want to help create more paths to financial success and freedom. We have a very high poverty rate in the community we serve, and I am a big believer that you don’t have to be rich to lead a rich life. Valley First sits in a unique position to use our tools as a financial institution to change the trajectory of our community and the families we serve. I’m excited and inspired by that challenge!

MWM: It is well-known that there are not enough women in C-Suite positions; not just in the credit union space, but across all industry-types. What does it mean for you to be in the position you are in, and what advice could you give to women such as myself, who have dreams to break through that glass ceiling?

KD: I feel incredibly fortunate to be in the position I’m in but remain disappointed at the lack of diversity sitting around the senior table and in the board room. I per-

sonally remain committed to helping others get there. I can’t tell you how many of my female colleagues I had to talk off the ledge and get them back into the game.

The rejection is real and painful. It took me 10 years to become the CEO of a credit union and I don’t even want to tell you the number of rejections that came with that – especially the many times I was in the final round for the job! We still very much have the good ‘ole boys club taking place in credit union recruiting, it’s hard to get your foot in the door and I think many professional recruiters are doing our industry a huge disservice. I love what I see from Mitchell, Stankovic and Associates and Humanidei – hats off to those organizations on educating boards and working with a diverse candidate pool.

I am however hopeful and do see the world changing. In my opinion, Gen X and Gen Y men are helping to change that landscape for working woman given their involvement with their families. I have a large age gap between my oldest child, who is 15 and my youngest who is 7.

When my oldest went to preschool it was only moms dropping kids off and by the time my youngest went it was all dads! I also love seeing new dads taking parental leave. I think much of this dynamic has been a great equalizer for working parents and I’m hopeful with the trend.

My advice on breaking that glass ceiling is to keep kicking it!

Keep showing up, keep applying for that senior job, no matter how many times you’re rejected.

I would look to diversify your

experience and take on roles and functions that you might not be 100% proficient in. Our male colleagues are much more comfortable taking on an area they are not that strong in, whereas women only apply when they have 100% of the attributes requested. Gain as much experience as you can, build a network of men and women who can open doors and help you grow.

I often feel that senior seats and board positions are this secret club, that unless someone gives us a chance to get in the door, we’re always standing outside. If you’re at the table, invite others to join you. If you’re at the door, ask to be invited in. I will say that so many men and women of all ages and backgrounds answered my request and still do to this day.

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MWM: Prior to your role at VFCU, you were the CEO of Balance Financial Fitness. Can you speak to what that organization is all about, and how do you see financial literacy playing into the greater vision for women who are looking to purchase their first home?

KD: BALANCE is the leader in financial education programs for credit unions and is a HUD approved housing counseling agency. While I was there, I was able to expand the work we did in housing and led the path to BALANCE becoming a national intermediary with a credit union affiliate network.

I’m super passionate about housing education and would love to see a national mandate on that type of education.

Financial literacy in general is huge to be on the path to homeownership. In fact, the gap of very basic knowledge of financial concepts is what holds many people, especially women back. I also see it as a barrier to those who didn’t grow up in households where their parents owned homes.

Homeownership is a reality for everyone, but I think purchasing a home can be quite daunting. I’d love to see more woman become homeowners on their own and through better understanding and planning could see that as a reality for more women. This was personally life changing for me.

At the age of 25 I had the good fortune to come across one of Fannie Mae’s first-time home

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buyer pilots for recent college graduates. I put $10K down (which was borrowed with interest from my parents!) and became a homeowner by myself. My mortgage was $800 a month, which was significantly cheaper than what I would have been paying for rent. I repaid my parents within 12 months and that property sold four years later with a $50K gain, which went into the next house I purchased.

MWM: What role do you see credit unions holding as the country slowly starts to open back up? How have the short and long-term initiatives changed as a result of COVID-19?

KD: Much like the last recession I think credit unions are positioned well because they did the right thing, like they always do.

Here in California as an industry we have done so much for Californians through loan extensions, fee waivers, and just overall guidance and support for our members. I’m proud to be part of this industry! In my opinion the big banks have once again behaved incredibly shameful.

I think credit unions will play a very important role as it relates to making credit available. We’re already seeing credit tighten up from the mainstream players, especially in real estate lending.

I also think for those members who are struggling as a result of job loss we will be there to navigate it with them. I suspect that some of the short-term

initiatives might have changed for some if they are concerned about losses and how that impacts their bottom line. At Valley First we have had some pivot as it relates to how we serve small business, which was on our road map to expand later this year, but given the current need has been pushed up in priority. For me personally I see us moving full speed ahead and will not be slowing down out of fear. It is a time of uncertainty, but our communities need us now more than ever. How we deliver and the priority of that might be different, but at the end of the day our members will need access to fair credit, the ability to save, and the guidance to navigate the new normal. I know at Valley First we’re up for the challenge and I’m excited about what the future holds.

MWM: And my last question (I ask this from all of my interviewees)- What is your favorite quote?

KD: I love this question! Can I give you two?! I have these written down at my desk and have had them with me for years:

“It’s not the hand your dealt, but how you play your cards.”

And from Henry Ford: “Whether you think you can, or you think you can’t – you’re right.”

Thanks for including me in this issue Leora! I’m inspired by you and am so excited for the work we will do together!

MOVERS

s r e k & Sha

Maria Sedlack Tapped as National Sales Executive at ClosingCorp

Movement Mortgage expands Tallahassee presence with Michelle Clark

Maria Sedlack has joined Michelle Clark has joined Movement Mortgage’s Tallahassee, Florida team.

ClosingCorp, as national Michelle brings a robust book of business to Movement, serving more than sales executive for data 140 families in 2019 for $31.5 million in volume. With her 26 years in the mortsolutions. gage industry, she brings a deep understanding of the industry and a passion Previously, Maria was for helping people realize their dream. a senior sales executive Making the switch to Movement was important to Michelle for many reasons. in the data and analyt“First, the culture of the company and how the profits are reinvested into comics division of Black Knight Inc., where munities.

Secondly, the local leadership in Tallahassee and North Florida. And she advised and delivered predictive lastly, the innovative and forward-thinking approach Movement brings to the analytics and data solutions to capital mortgage industry.

I’m really excited to be part of this team!” market clients.

Michelle will report to Market Leader Tim Sheppard and serve the North Florida She spent a majority of her caregion with a focus in Tallahassee.

“We are ecstatic to have Michelle join the Movereer with Fitch Ratings, where she ment family in Tallahassee,” says Sheppard.

“Anytime you add someone of Michelle’s held a series of structured financecaliber to the team, it’s a very big deal.

Her passion, drive and work ethic have allowed related positions, including heading her to thrive as a top producer in this market.

I’m excited to serve alongside her!” the agency’s Structured Finance Business Development team that serves RMBS and CMBS investors.

In her new role with ClosingCorp, Maria will be responsible for advising capital markets and fintech clients on how to use the firm’s data to develop new risk and securitization solutions.

In a release, Dori Daganhardt, Donna Corley has named executive vice president and head of Freddie Mac’s singlechief data officer of Closingfamily business.

Corp, says Maria’s “expertise As the head of single-family, Donna will oversee all business relationships with its seller/ in the capital markets field servicers, the performance of its guarantee book, and all sourcing, servicing and business will help us show investors operations.

She will also serve as a member of Freddie Mac’s senior operating committee how they can better underand will report directly to CEO David Brickman. stand the point at which a Corley joined Freddie Mac in 1995 as a research analyst. Over the course of her career at borrower is incentivized to the company, she held various positions within the investment and capital markets division conduct a transaction by and rose through single-family to lead its credit pricing, risk transfer and securitization teams. understanding the closing costs the borrower faces.”

Freddie Mac has added Donna Corley to its Single-Family Business

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Wells Fargo Names Julia Bates Technology Control Executive Wells Fargo & Company has announced that Julia Bates has been named Technology Control Executive.

In this role, Julia will report jointly to Saul Van Beurden, head of Technology, and the Wells Fargo Control Executive to be named.

As the Technology Control Executive, Julia will help implement and execute Wells Fargo Technology’s risk management program, with a focus on continuing to develop a strong risk and control function that aligns with the overarching Wells Fargo strategy. She will provide counsel on Technology risk and control issues as well as direct issue management and remediation efforts.

Julia has more than 20 years of financial services industry experience.

Throughout her career, she has focused on mentoring junior-level talent and women, holding executive sponsorship roles of several programs focused on interns, college recruits and women in leadership roles. Julia holds a B.A. from Yale University and an MBA from Stanford University Graduate School of Business.

Gateway First Bank Welcomed Joell Maddox

Gateway First Bank welcomed Joell Maddox as director of treasury services.

Joell joins Gateway with more than 30 years of experience in the financial industry, both in mortgage and correspondent banking. She has served in senior leadership positions with Origin Bank, IndyMac Bank and Wells Fargo.

Most recently, she was vice president of treasury management sales at Origin Bank. In her new role, she will be responsible for managing relationships with correspondent banks, title companies and commercial customers that are using treasury management services.

Upon the announcement of Joell’s hire, Gateway Chairman and CEO Anna Klombies has joined Total Expert, as chief people officer.

Stephen Curry said, “It is key we Anna has more than 25 years of experience in developing highbring onto the Gateway First Bank performance cultures and operational excellence. She has worked team an accomplished leader in in all levels of human resources at CBS Marketwatch, Dow Jones, and most reTreasury Management to help cently served as senior vice president of human resources at SportsEngine. launch our products and services In her new role, Anna will focus on professional development, people operations, to best serve our client relationcoaching and mentoring, and improving company culture across all Total Expert ships and grow new ones.” teams.

“Joell has had a very accomplished career in the financial institutions’ industry working with correspondent banks, and I look forward to her being a part of the successful culture and growth with Gateway First Bank,” he added.

Mortgage Quality Management and Research, LLC has promoted Mabel Lee to Warehouse Due Diligence Manager.

As Warehouse Due Diligence Manager, Mable oversees MQMR’s skilled team of operations risk managers, who perform due diligence reviews and special projects. She first joined MQMR as Internal Audit Manager in June 2018, bringing more than 30 years of experience in risk management, credit, quality control, underwriting and project standards.

Previously, Mable has worked with both Fannie Mae and Freddie Mac. She holds an Executive Master of Business Administration degree from Claremont Graduate University and a Bachelor of Science degree in business administration from San Francisco State University.

Total Exert Hires Anna Klombies as Chief People Officer

MQMR Promotes Mabel Lee to Head of Warehouse Due Diligence

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CoreLogic Hires Selma Hepp as Deputy Chief Economist

Wells Fargo Names Ellen Patterson General Counsel Ellen Patterson has joined Wells Fargo & Company as its senior executive vice president and general counsel. Reporting to CEO Charlie Scharf, Ellen will be responsible for all legal affairs at the company and will serve on the company’s Operating Committee.

Ellen joins Wells Fargo after more than seven years at TD Bank Group, where she most recently served as group head and general counsel responsible for leading the bank’s global Legal, Compliance, Anti-Money Laundering, Corporate Secretary, Global Security & Investigations, and Fraud Risk Management teams. Earlier, she served as general counsel for TD Bank’s U.S. banking operations. For the past two years, she has chaired TD Bank’s global Women in Leadership program, supporting programs and practices to advance the careers of a diverse group of female employees.

Prior to joining TD Bank, Ellen was a partner at the New York law firm of Simpson Thacher & Bartlett LLP, where she focused on advising financial institutions on mergers & acquisitions, capital markets, and corporate governance matters.

Ellen stated that she is “excited to join Wells Fargo during a transformational time in the company’s history. I look forward to collaborating with leaders across the company to shape the culture, help businesses innovate, and produce the best outcomes for the customers and communities Wells Fargo serves.”

Ellen is a graduate of Columbia Law School and received her undergraduate degree from Harvard University. She has been recognized as one of 25 “Women to Watch” by American Banker in each of the past four years.

Selma Hepp has joined CoreLogic as deputy chief economist.

Most recently, Hepp served as chief economist and vice president of business intelligence at Compass and Pacific Union International.

Other prior positions include chief economist at Trulia, senior economist for the California Association of Realtors, and economist and manager of public policy and homeownership at the National Association of Realtors.

Selma will lead economic research using the CoreLogic gold standard data and analytics resources including the S&P CoreLogic Case-Shiller Home Price Index and other indices and services; and, will expand the visibility of the CoreLogic economic policy unit and enhance research capabilities and tools, which are widely referVeterans home loan lender, NewDay USA acknowledged its leadership team of enced by clients, industry leaders, four women executives, who are bringing about significant business results reachthe public sector and the news ing out to thousands of veterans nationwide despite the COVID-19 challenge. media.

In a release, Frank Nothaft, Chief Financial Officer Chao Deng is tapping on her more than 15 years of execuchief economist for CoreLogic, tive experience to navigate the company through the difficult financial market “while says Selma “brings extensive building the balance sheet,” the company said, and shaping financial solutions for expertise and thought leadership veterans struggling due to the COVID-19 economy. around key topics like housing Chief Compliance Officer Crystal Raines’ leadership has helped the company keep and urban economics, domesup with constantly evolving policies, rules and regulations implemented by the Departtic and international housing ment of Veterans Affairs, Ginnie Mae, local and state governments and federal regulamarkets, the mortgage market, tors during these challenging times. demographic trends, and Chief Administrative Officer Maylene Tan Khieu, who has more than two decades more. of mortgage lending management experience, led the transition of more than 90% of He adds that “we are confiits 500 employees who work at the Baltimore-area office, to working from home. She dent that her wide-reaching teamed up with Crystal, in the early days of the pandemic, to develop NewDay’s business industry experience will help continuity plan and lead its execution in order to enable most of the company’s staff to ensure our market-leading work from home. property data, analytics and Senior Vice President of Human Resources and Communications Pooja Bansal plays an insights continue to provide instrumental role in leading the company’s growth” to 1,000 team members over the next value to our clients and year. “We are proud to have a diverse and inclusive workforce at every level of the compabroader markets.” ny,” Pooja stated. “I’m especially grateful to have such accomplished and dedicated female colleagues.”

NewDay USA thanks its C-suite women for leadership amid crisis

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#LE ADINGWOMEN

Raquel Borras Venturing out into the unknown world of running your business is often an exciting and nervewracking process. Adding the complexities of navigating that process during a global pandemic is nothing short of a miracle, yet Raquel Borras, Founder of “True to You Branding� has tackled this pivotal moment in her life with the level of positivity and laughter that has 34

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made her well known and loved. It was a no-brainer to select and interview her for the July 2020 #LeadingWomen feature of Mortgage Women Magazine.

#LE ADINGWOMEN

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 July issue?

Raquel Borras: When I hear the term #Leadingwomen, I immediately think of women who inspire me! So, the mere fact that I’ve been asked to represent this cause is humbling and an absolute honor!

MWM: Brief history on what has brought you to where you are today, as the founder of “True to You Branding.”

RB: It has been a long but surprisingly amazing journey to get to the place to where I’m at today.

I got married at a young age, was a stay at home mom for nine years, and then got divorced 10 years ago. Because I was focused on raising a family early on, I never had the chance to find or develop a career. It wasn’t until my divorce that my path took a significant turn at the ripe old age of 35. Since then, I had taken on many different jobs in many different industries, but after 10 years I feel I have finally found my calling and purpose. My love for personal branding and wanting to help people ultimately led me to take a huge leap of faith and start “True To You” branding at 44 years of age. Talk about being a late bloomer!

HA! MWM: How can female loan originators use personal branding to help them stand out in a pool of male loan originators? How can women leverage the emotion we all have within us to help them better connect with their customers?

RB: I truly believe women have a huge advantage when it comes to personal branding because of the fact that we are not only emotional creatures, and the best way to connect with oth-

ers is through emotion. Unfortunately, that is also a detriment to women. Women tend to be more self-cautious and insecure about putting themselves out there so we tend to overthink things.

It’s a double-edge sword. That is why I do my best to walk the walk and put myself out on social media in a manner that is very transparent and very vulnerable. I want to show that not only is it okay to share your stories and experiences, but that is truly the key to standing out and connecting with your clients.

MWM: What is your “why”? What drives everything you do? Think of Simon Sinek.

RB: I’ve always had a servant heart and giving selflessly is something that truly makes my heart happy. So, my “why” is to inspire others and make a positive impact on this world, even if it’s the tiniest impact. This might sound a little morbid but I think about how I want to people to remember when I’m gone, and I try to live my life that way.

MWM: Anything else you want to add that will help people learn more about you and what makes you amazing?

RB: In the last year, I’ve become a huge advocate for mental health awareness and have recently become the head of Brand Strategy & Marketing for the Imperfectly Perfect Campaign. It is a global campaign with many celebrities and public figures helping us break the stigma and change the narrative on what it means to suffer from mental health issues. Being that I myself struggled with clinical depression in college and attempted to take my life, I can relate to feeling shame and not wanting to share my story in fear that I was going to be judged and labeled a crazy person. If anything, I’m realizing how many people are struggling in silence and need to know they are not alone.

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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 TR ACY A S H F O R D

As I move into my late 50’s, I look back and see a life that continues to be filled with good people, friends and business colleagues, and good lessons learned, both personally and professionally.

In writing this article I have been able to reflect on what made me into the person I am, and how I became, through hard work and determination, a business woman who has seen many sides of a professional career, as an executive, a small business owner and, most recently, the leader of a nonprofit organization.

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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

Throughout more than three decades in the mortgage business, I have always tried to exceed expectations, especially those of others, but also expectations that I have set for myself.

My "career" began at an early age. When I was in high school, my business education teacher encouraged me to get practical experience, and I accepted a job at a local financial institution.

Starting my financial services journey as a teller introduced me to banking. I worked for a few hours each weekday, with permission to leave school early to learn financial skills like bookkeeping, basic accounting principles, compounded interest, and terms of loans, etc.

In college I pursued additional business opportunities, working part-time in a savings and loan association while studying toward my degree. I set expectations even in those early days, and I found I had to sacrifice some "play time" to advance my budding career.

A KEY MOMENT: A CALLING TO HELP PEOPLE BUY HOMES

When a part-time opportunity arose in lending, I grabbed it, and within months I found my calling: helping put people into homes.

So, when I graduated from college I looked to financial services for a fulfilling career. I researched potential employers and saw a lot of women in the workforce but very few in leadership roles. At the time, I didn’t understand all the whys.

But I understood that I needed to be patient. I realized that building a career path isn’t always about upward mobility. Sometimes it’s "two steps forward, one step back,” or maybe a side step here and there. Through it all, I always kept my eye on the prize, working harder to gain more responsibility.

I quickly learned to focus on accountability.

Effort doesn’t equal results. Producing results was crucial, but equally important was knowing how to measure and communicate the impact, articulating and quantifying the value.

I have always been a "bigger picture" person, and as many of my friends and colleagues would tell you, I am very much a strategic planner. When I married my husband, we decided to write our own marriage vows. My husband, a gifted writer, spoke beautiful vows.

I worked hard on mine, wanting to speak to our shared values and our new life together.

A dear friend and mentor teased me at the reception afterward saying my vows sounded a bit like a business plan. Ouch!

A KEY DISCOVERY: THE VALUE OF MENTORS AND PEERS

I also continue to see and experience the value of mentors. We hear a lot about the need for women to mentor other women.

I agree every woman in business needs to help other women. But in my case, if I hadn’t been able to cultivate male mentors early on, I wouldn’t have had any. There were too few women to lean into.

That said, I was blessed to have female peers. Together we shared, collaborated, commiserated, and created. None of us was veterans as we were all learning the mortgage banking ropes together. We were running different business lines. Imagine a small cohort of leaders: one servicer, one secondary market leader, and me the production lead, finding our way together.

To this day, I credit these women and their willingness to set competition aside for the collective success of all. They remain my dear friends and peer mentors. Mentors don’t always need to be ahead of you. They can be right alongside of you. Please remember this!

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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

Some of you may also recall the U.S. entered a recession in 1990, and it lasted eight months.

Although this recession was mild, especially when compared to those that came after, it still required financial institutions to scale back. At the time I was running one of three regions for a mid-sized mortgage banking firm. We needed to reduce the workforce and consolidate offices in order to stay profitable. It was a difficult time.

I was the only female production executive and at least two decades younger than my colleagues. When our CEO and board of directors looked for proposals on how to right-size the business, I went to work, studying business activity, costs to produce, profitability, and productivity.

The result: I, a twenty-something, was chosen over other senior executives to lead the company's response to the challenge.

I got there by being prepared, by anticipating needs, and by knowing the devil would be in the details. It wasn’t about rambling on about how things had always been. A new day was dawning and solutions needed to be relevant to the challenge at hand, not a redo of the ways things had been.

Sure, it took hard work, knowledge, understanding, and a continual will to learn and apply that knowledge to the business. It always does.

But I was determined to take the challenge and turn it into an opportunity. A tough road but what a great learning experience.

A KEY EVENT: FINDING OUT ABOUT CREDIT UNIONS

It was soon after, when I discovered credit unions, that I really found my passion. Or, as I often say, what makes my heart sing.

I had been working in the Northeast, and while teaching for the MBA’s School of Mortgage Banking, I had a conversation with an attendee who was the president of a credit union-focused mortgage banking firm. Honestly, I didn’t know much about credit unions. Well, that conversation led to a job offer and an opportunity to help credit unions offer home loans to members.

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After life in the Northeast, I relocated to the Midwest for this new opportunity. The “move” was exciting in many ways. It was a move to a segment of financial services that I saw as uniquely positioned to become a force in the mortgage banking space. At the time, credit unions held under 2 percent market share of the single-family residential mortgage market, barely scratching the surface.

I built strong relationships with credit union industry leaders, not just company and association heads, but also the people leading credit unions. I learned about real issues and challenges facing these financial institutions that were attempting to help their members buy homes they could afford. I also discovered that I had a knack for helping find solutions.

The more time I spent with credit unions, the clearer it became I could be even more aligned with these goals by focusing on working one-onone with credit unions, helping them create and develop their mortgage lending programs. Yes, I wanted to start my own business, and continue to make my heart sing. It would be a new song.

A KEY UNDERTAKING: STARTING A BUSINESS

In bits and pieces, I began planning how to make my dream (job) come true: I talked with mentors, researched legal and financial implications of self-employment, and focused on building the needed infrastructure. There are so many details requiring so many decisions, from designing a business logo to determining consulting rates and managing travel schedules.

Wow, when I think back to how risky it was to leave the security of corporate life, it still sends me reeling. That said, I have never had a moment of regret!

I have spent the last two decades working side-by-side with credit unions, helping them advance their mortgage lending programs. It has been a privilege to work with some of the greatest leaders in the credit union movement. Yes, it’s a movement; a movement about passionate

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

lenders serving their members.

Soon after starting my consulting business, I was asked by the founder and president of the American Credit Union Mortgage Association (ACUMA) to ensure ACUMA’s conference programing was topical, relevant, and give ACUMA’s members the opportunity to learn from and network with industry leaders and their peers.

ACUMA as an association was growing quickly as more credit unions developed home loan programs and became active sellers in the secondary market.

Being inside credit unions, each month gave me a great window into their challenges, pain points, and their dreams. I was able to bring this insight into the association. Working together with ACUMA’s president proved to be very fulfilling. It was great to work alongside a seasoned association executive and leader in the credit union industry.

Together we watched credit unions grow their market share of home loans. We saw credit unions excel, especially in times of great challenges. Credit unions’ share of the mortgage market grew. When the 2008 credit crisis hit, the credit union mortgage market share spiked. At a time when consumer trust of financial institutions was at a low point, credit unions emerged as a safe, local, and competitive alternative to other mortgage lenders.

A KEY TRANSFORMATION: THE PANDEMIC BRINGS CHALLENGES AND OPPORTUNITIES

The last two decades, working with credit unions directly, and through ACUMA, my passion for credit unions has continued to grow. I was delighted late last year when ACUMA’s board of directors asked me to take on the role of president when the founder chose to step down. His years of mentoring prepared me well for the job.

Little did I know that soon after taking the reins, we would be in the midst of a pandemic.

ACUMA has been hosting great conferences for over 20 years, but we had no history of hosting virtual events. The safety and health of our

members was our first priority; so, in March, we made the decision to shift our education and networking to virtual and on-demand programming.

Just as all our credit unions closed in-person offices and shifted to remote working, we did the same.

Mortgage lenders have had to pivot quickly, shifting to e-delivery and e-closings. Mortgage loan officers aren’t shaking hands these days, so it takes new and different ways to build and maintain relationships. New skills needed to be learned in a matter of days and weeks, not months or years.

This meant that I needed to make sure ACUMA was providing timely education and an opportunity to connect with its peers to discuss solutions and best practices. Necessity truly is the mother of invention.

This pandemic has tested all of us as leaders. It has stretched us out of our comfort zones.

It certainly has for me. As I continue to work through the challenges of these unique and troubling times, I have kept focused on what has worked throughout my career. Lean on your mentors, collaborate with peers, set goals, and make sure you are deliberate about your steps toward reaching each goal.

Looking back at it all, I‘m even more certain of the ability of people to work together to overcome challenges. None of us can succeed on our own. We need mentors, peers, partners, friends, and family to make it through difficult times and to be able to savor the good times.

A final word from my heart: work hard, treat people with respect, and never lose sight of your goals or your passion.

Tracy Ashfield is the President of the American Credit Union Mortgage Association (ACUMA), a non-profit organization that provides educational and networking opportunities for its membership of credit union mortgage lenders and their business partners. Her responsibilities include providing the strategic leadership for ACUMA. She develops and hosts both in-person and virtual events promoting education and networking content for ACUMA’s members.

She coordinates her duties with the association's governing Board of Directors.

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ASK THE E XPERTS

Originations- A Love Affair I’ll never forget taking my very first 1003 loan application – and the memory still breaks me into a cold sweat. I had been a processor for just a few short months, when my branch manager decided one day it would be a great idea for me to interview the borrower who had just come into our office, and presented me with the “opportunity” to take the application all on my own. (Note – this was before the days of NMLS and licensure of the sort we have today.) He introduced me to a nice gentleman about the age of my dad, plopped me behind his giant fancy desk with a pen and that famous four-page document, and said he’d be back in an hour. (Second note – it has definitely occurred to me since that he likely had a good laugh and headed out for a nice lunch, while I sat there feeling a bit nervous, a little over my head and most definitely drenched in sweat.)

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I fumbled through the document, asked him what seemed like incredibly awkward and very personal questions about his pay, children, credit, savings and spending habits, but at least knew enough to make some photocopies of paystubs and such before I sent him on his way. (Third note – yes it was a number of decades ago, but we did indeed have photocopiers by then.) When my manager returned, I remember making it very clear that I did not enjoy the surprise of being put on the spot in that way – but followed that up by telling him that I wanted to learn everything I could about originating, and become a loan officer. I had the bug, and never really lost it. I originated for many years very happily and successfully, before moving into roles that would allow me to serve originators in the way I do today.

With that backdrop, you understand why I have a deep love and respect for those who originate, and that’s the wonderful topic of this issue of Ask the Experts. And was it ever fun to reach out to some amazing experts who either originate themselves or support those who do! Read on, and grab a tip or two to drive originations in your own business.

ASK THE E XPERTS

JO ANN THERIAULT-FAZIO

STEPHANIE TAYLOR

When Covid-19 hit and we went under a stay at home order in Illinois; we saw a major shift in how we had to conduct business. To stay proactive with purchases and not focus solely on refinances; I set up weekly webcam (Zoom or GoToMeeting) calls with my referral partners. Every week we would focus on a different topic or guest speaker. A title company, appraiser, e-closings, etc… And, to mix it up we also set up Bingo and trivia games. A virtual event does not replace that in-person meeting; but it is a great way to stay engaged with your referral partners and clients. Because we have been doing this for the past 90+ days I saw an uptick in purchase referrals year over year. Not only were we getting referrals from realtors and attorneys; but old clients were referring their friends and family. I saw an increase in millennial buyers being referred by their parents whom I had worked with in the past. Nothing will ever top staying in touch with your database of clients and referral partners.

The unique combination of automating messaging paired with personal connection. Now more than ever, borrowers need reassurance, encouragement and human connection to feel safe amidst one of the biggest financial investments of their lives, not to mention during a global pandemic. Leveraging cutting-edge technology to do the busy work frees up more time to connect on a personal level with each and every borrower. Which in turn, earns engagement, trust, loyalty and more often than not, earns their business.

SVP Mortgage Lending /Branch Manager Guaranteed Rate

NICOLE RUETH

Producing Branch Manager Fairway Mortgage Driving originations is so much more than processing transactions - how boring! It's our job as originators to encourage homeownership by partnering with agents and encouraging buyers, and as female professionals, no one is better at building meaningful, lasting relationships than us. Don't sit around hoping more originations walk through your door or worse yet, do the same marketing tactics everyone else is doing. Get out there and find those potential buyers who need a gentle push and expert guidance to move into their dream homes. Drop the script, be yourself, follow your passion and get creative with your business and you’ll see a bump in originations. I guarantee it!

Corporate Sales & Marketing Manager Mann Mortgage

LAURA ESCOBAR President, Eagle Home Mortgage We’re constantly exploring new ways to virtually engage with our customers. For example, Lennar introduced Self-Guided Tours, providing customers with a unique opportunity to maintain social distancing while touring our model homes. Customers go online, register to receive a secure access code for the model home and schedule their tour online.

We’ve also introduced Express Close, which allows customers to review and sign documents digitally ahead of the closing. On the day of closing, customers only need to execute a few wet sign documents and they can do it from the safety of their car with our drive-thru closing experience.

MAKINLEY COOK

Mortgage Loan Originator United Community Mortgage Services It may sound simple – but now more than ever I make sure to stay engaged with my realtor partners. Anything they need, I do. Now that open houses have started back up in my area, I am going to them and hosting them with agents.

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ASK THE E XPERTS

LIZY HOEFFER

ELIZABETH KARWOWSKI SDOUCOS

The biggest things helping me drive business these days are our Money Tip Monday videos and my weekly newsletter about the market and how to sell it. People are scared right now and are looking for expertise. I am helping my agent partners interpret what is going on in the current climate and giving them tangible advice for educating their clients about how to invest their money in real estate and protect that investment.

In the mortgage industry, a subpar credit score is one of the biggest hurdles to successful conversion of leads. All too often, leads who look great on paper in terms of employment status, income, and other assets, have a disqualifying FICO score. In fact, more than one-third of all Americans have a FICO score of 620 or below. Unfortunately, this means that lenders could wind up shelling out serious cash for leads that would otherwise be considered the highest quality, only to discover that those consumers fall outside their products’ parameters.

Chief Experience Officer at CrossCountry Mortgage

I have also replaced all of my lunch and learns with Zoom calls and started an online community group on Facebook. A more immediate, interactive exchange of ideas and information is important as we navigate these unprecedented market conditions.

JENNIFER JOHNSON

Director of Marketing Strategy Sierra Pacific Mortgage Inc. Thinking “small” rather than “big. During Covid-19, the most successful companies and originators succeeded by thinking “small” rather than “big”. There is a time and place for big initiatives, impressive marketing plans, giant rollouts and nationwide launches. But the time of the global pandemic was not that time.

We’d all been confined to our homes craving personal connection, so the one-on-one interactions became so important, and VITAL. Originators who learned the small details like how that family was doing, took the time to make quick phone calls, or sent a video message showing they cared, paid off in dividends when done tactfully and authentically.

People were craving other REAL people, and when services were offered that generated actual help, and made customers feel connected on a soul-level, the gratitude was endless, and the results were amazing.

At the end of the day, it was the SMALL things that mattered in a BIG way.

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CEO, Get Credit Healthy, Inc.

Because this problem has become so commonplace, many lenders have begun to partner with organizations that specialize in rehabilitating and recapturing those leads. Why let thousands of dollars’ worth leads, and millions of dollars’ worth of potential business, fall by the wayside because of credit scores? Well, now you don’t have to. Lenders have begun to solve this problem by referring those otherwise qualified consumers to non-profits that specialize in credit remediation and rehabilitation. Although the non-profits were established to benefit consumers, lenders have become an indirect beneficiary. Now they are able to recapture those leads in which they’ve invested so heavily, thus maximizing the return on their investments in the form of millions of dollars in new loan closings.

CATHERINE MOORE

Marketing Coordinator United Community Mortgage Services As United Community Mortgage Services’ marketing coordinator, I’ve launched a journey strictly focused on adding value to agents. The first email in that journey included an infographic with the best times to post on different social media sites. The second email included five tips to increase your email effectiveness and an offer to set up the agent with a free Total Expert account, which would allow him/her to implement all five of those tips. Next month’s email will demonstrate the benefits of color-coding your calendar.

Sue Woodard is the chief customer officer at Total Expert. She can be reached at sue.woodard@totalexpert.com.

C AUSE OF T HE MON T H Black Mamas Matter Alliance https://blackmamasmatter.org/

W H AT IT I S

Black Mamas Matter Alliance is a Black women-led cross-sectoral alliance. They center Black mamas to advocate, drive research, build power, and shift culture for Black Maternal health, rights and justice. BMMA was created out of a need to form an entity that can hold space and serve as a platform for Black women-led initiatives that are working to address the issues that impact maternal health disparities and inequities using the human rights, reproductive justice, and birth justice frameworks across all sectors.

VISION

“We envision a world where Black mamas have the rights, respect and resources to thrive before, during and after pregnancy.”

WH AT TH E Y DO

BMMA provides technical assistance, training and capacity building for grassroots organizations, maternity care service providers, academia and the public health industry. They foster connections and collaborations between mainstream entities and Black women-led initiatives.

They recognize that maternal mortality and morbidity is a global concern and they frame domestic maternal health policy within the global context.

WH AT YOU C A N DO • Donate • Attend one of the many Black Maternal Health Regional Summits held across the U.S. • Become a sponsor of “Black Maternal Health Week”, held every year in April • Share the message of BMMA utilizing their social media toolkits

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MORTGAGE MOMS

MORTGAGE MOMS

BY A S H LE Y G R AVA N O

Curious how other Moms manage, ESPECIALLY in a high-volume market where most of us are working 10+ hour days? Is there a magic potion we all can take when we are pulling 12-hour days, sports, travel, and dinners... not to mention the household things that call our name on a regular basis? And recently we have a new thing called work from home and home-schooling. Now Dads... this is in NO way a discredit to you or your efforts, but, as a mom, I think we all carry a little extra guilt if we are working full time. I reached out to several Moms in the industry to ask them how they do it. Is there truly a “work life balance”?

HOW ARE YOU MANAGING WORK LIFE BALANCE AS A MOM WITH THE HIGH VOLUME (AND COVID-19 IF YOU WISH) AND WHAT TIPS DO YOU HAVE FOR ALL THE OTHER MOMS OUT THERE? SHERRY GRAZIANO SVP, Mortgage Omni Experience SunTrust now Truist “Spoiler Alert. There is no such thing as wonder woman and no secret cape. In our house we have learned that work life harmony is an art to achieve. Every.

Single. Day. Today you are healthy, dressed, fed, and making a difference in the world – so it’s a great day!

Give yourself grace mommas!!”

LEIGH HENLINE Chief Consumer Credit Officer Prevail Bank I was a bit of a “workaholic” before, and my family made it clear that they like seeing me at home for dinner. Who knew? We have an agreement that if I have been working more than 15 minutes later than “quitting time,” my husband or one of the kids will text me. It keeps me honest and stops that “just one more thing before I call it a day” monster from getting out of control. There’s always a pile of work waiting for me the next morning, but my family is waiting at home each night, too. I’m still not great at it but getting better.

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CASEY PUCO Account Manager Essent Guaranty Inc. Work from home... I can go on and on about this very relevant topic. This is a continual work in progress. Personally, I ‘try’ to follow a schedule as best as I possibly can but, if I’m being honest, somedays the schedule just gets tossed out the window and I must just roll with it. When I first started working from home, I was under the impression that everyone was going to cooperate like robots and my kids would stay silent when I told them, ‘mommy has a conference call.’

We all know how that goes. It seems that those are the times they seem to hurt themselves or need their 10th snack of the day because, ‘I’m starving!!!’

Insert eye roll here! Luckily, I’m a great multi-tasker.

I’ve also started getting up earlier to map out my day and complete tasks that I can accomplish before the kids need help with schoolwork and my calls begin. When all else fails and I really need silence, I slip out of the house and hide in my car.

We are all doing the best we can and for now this is what seems to work for me. If you ask me next week, I will likely have a different tactic.

MORTGAGE MOMS

DALILA RAMOS Planet Home Lending BD Manager I get up early so I can have time to myself, which includes café con leche (Cuban coffee) and bible/ prayer time. I do take calls and work while making dinner. I pretty much cook every night for Mateo and me Monday through Thursday.

However, I put away and silence the phone while we eat together. We always eat together, and we always have dessert, too! During the day, I must step away from my laptop. I find that if I don’t, I can lose myself and the whole day. I stop and make lunch or do a load of laundry or take a trip to Publix. Something to stop my brain. One last thing that I do is take a bath a few times a week. Not just a shower like every day. An actual bath where I sit in the hot water and soak. Sometimes I add bubbles, take a book, or truthfully, I cry. I find that once I let that emotion out in a relaxing place, I feel a whole lot better.

JENNIFER SMITH – SVP, Enterprise Initiative Planning & Execution Gateway First Bank Give yourself and your team some grace. Everyone has a bad day or makes a mistake – don’t beat yourself up and recognize when it’s time to step away and get some air and fresh perspective to reset. I love using the Headspace meditation app and either getting outside or to a quiet spot to take as little as three minutes to refocus and breathe.

With so much to do, set a Top Five: these are the five things that are the MOST IMPORTANT for you to accomplish and anything else needs to be delegated/take a back seat/is ignored for the day, barring a fire drill from your boss! As a rule, one of your top five must be non-work related. This is a great way to force prioritization for yourself and ensure that you’re still doing something for yourself/your family. As an example, my non-work related one sometimes is “be home for dinner with family” or “exercise at lunch.”

DENISE PANZA – Mortgage Loan Originator, NMLS 16446 Homebridge Financial Services, Inc. Working single moms have it tough. But it doesn’t have to be this way as I'm living proof that hard work can be fun.

One thing that helps me with work-life balance, besides ordering my groceries online and curbside pickup of cabernet, is HAKUNA MATATA! It means no worries. Focus on the positive! Be confident that you are doing the best for your family, even include them in your work. For example, with my daughter Gigi, I make it a point to try and include her with my 'Mortgage Tip' videos that I post on LinkedIn. She helps me edit and upload, and we have fun doing it. Including your child in your work will help them feel the extent of your love and understand your sacrifice.

I will wrap my first column with my thoughts. This industry chose me before my first son was born. The year was 1998. I fell deep in love with the chaos and hustle.

When I became pregnant with my first son, I knew it would be a balancing act, but I was ok with it. When you enjoy being a working mom or Dad, it doesn’t mean you love your kids less! If I missed a class party or forgot cupcakes, boy did I feel bad. I remember when I moved into a new role my second son was well into elementary school. It was the first field that in years I was able to attend with my schedule. I walked up to one of the moms and she said, “wow look who made it”. That crushed me for a few minutes... I really felt like less of a Mom. Then I shook it off (as Taylor Swift says) and remembered that every family is different and all we can do is do our BEST for our families.

So, there you go... we all really say the same thing.

Give yourself a break! Block out the noise Mamas and keep on moving.

Gravano brings over two decades of success and experience in the title and settlement industry, devising and executing strategies while leading team efforts that have produced conclusive results, valuable business partnerships and solid growth avenues for real estate products and services. 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.

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HOLISTIC WELLNESS

a g n i d l Bui dation oFofunHealth

Through and Beyond a Pandemic

BY C I N DY S M ITH

Just as a house is only as strong as its foundation, our bodies can only be as healthy as our foundation of daily habits. Today it is more important than ever to establish healthy habits that will carry you through and beyond the pandemic. It’s not enough, however, to just decide you want to be healthy. Establishing new habits takes time and hard work.

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In his book Care Package: A Path To Deep Healing, best-selling author Sylvester McNutt states it perfectly, “Fall in love with taking care of yourself. Fall in love with the path of deep healing. Fall in love with becoming the best version of yourself but with patience, with compassion and respect to your own journey.” If your journey to stronger healthy habits seems overwhelming, start with one or two of the following: set goals and be firm yet kind to yourself. Make it your passion to become a healthier better version of you.

FOOD: Keep it real. There are so many different diets and philosophies when it comes to healthy eating, but the one thing that is consistent in all healthy eating plans and diets is eating real whole foods. If the food you are eating has a label on it, it is not a whole food. Nutritious, whole foods are vegetables, fruits, and lean meats or seafood. Processed foods can cause inflammation and harm the immune system; so keep it real.

WATER: Keep it pure. Most of our drinking water has many chemicals used to clean it but can cause havoc on our health.

Filtered water does not have to be expensive. You can purchase a Brita or Pur water filter for your faucet or a pitcher that can be filled daily to get quality drinking water.

Then drink lots of it. Water helps to flush

HOLISTIC WELLNESS

toxins naturally and keeps all our organs working smoothly. After all, we are comprised of 60 percent water, and we need to keep replenishing the water in our system with pure clean water to keep it from getting stagnant and to keep us from getting dehydrated putting stress on our organs.

AIR: Remember to breathe. One of the most common responses to stress is shallow breathing. Take some time each day to do some deep breathing exercises. Simply take a deep breath in through your nose and slowly push it out through your mouth 3-5 times. Repeat several times throughout the day to help reduce stress as well detoxify through the lungs. I recommend setting an alarm or downloading an app that will remind you to breathe throughout the day.

once a day, we are still moving less. We sit to shop, buy groceries, and order “dinner out.”

Although it’s important to get your heart rate up every day, stretching helps to strengthen muscles and keep them supple. And you don’t even have to break a sweat or leave your desk! Set an alarm for twice daily to stand up, take some deep breaths, and do the following stretches:

MOVEMENT: Keep it simple. No gym is needed to move. Walking helps to cleanse our lymphatic system, which is part of our body’s natural detoxification system. A 10-30 minute walk several times throughout the day or bouncing on a rebounder are good ways to keep the lymphatic system healthy.

With increased time at home, more than ever we are spending time sitting. Although we are all making a concerted effort to do online exercise apps or go for a walk/run

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HOLISTIC WELLNESS

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

Back - One arm crossbody Chest opener – hands behind your back Shoulder/neck - arm anchors Triceps stretch – overhead Reach for the sky (or ceiling) Reaching side to side Runners quad stretch Calf raises Seated hamstring stretch Namaste wrist stretch

SLEEP: We’ve all been told time and time again how important sleep is to our health, emotions, balancing of hormones, healing, and immune system. The list goes on and on. The question isn’t how important sleep is, but how do we get what we need? Sleep is a discipline just like eating healthy and exercising. It takes discipline to set a bedtime routine and stick with it, but the rewards are countless.

Create a good sleep environment by darkening the lights in your home an hour before bedtime.

Shut off the computer and phone to eliminate blue light stimulation. Lower the temperature to tell your body it’s time to wind down. Then choose any other sleepy mood rituals to help you relax: diffuse lavender, put on soothing music, journal, or meditate. I actually have to tell myself it’s ok to fall asleep so my mind and body realize I can really relax and take some time off to renew.

THOUGHTS: “To change the printout of the body, you must learn to rewrite the software of the mind,” as spoken by Deepak Chopra. We all have thought tracks that run constantly through our minds from childhood or past experiences.

The good news is we get to choose what we think about and how we perceive the day. Each day before getting out of bed, take a couple of deep breaths, think of something of which you are grateful, and decide today is going to be a good day. It will get you off in the right direction.

Prayer and a mindfulness or meditation practice is helpful in training our minds to be present and grateful. A dear friend of mine and doctor of oriental medicine once said prayer is our time to talk to God and meditation is his time to talk to us. It can be five minutes a day or a few times throughout the day to find a comfortable place to quiet the mind. It could be in your car before heading home from work for the day.

Take a few deep breaths, notice how your body feels, listen to all the sounds around you, and then let any thoughts go. See them float by as though you are watching the clouds passing by.

Take another deep breath and feel gratitude for the moment.

RELATIONSHIPS: Social isolation is detrimental to our health. Humans have an innate desire to be close to other people. In this time of quarantining, I have realized more than ever the importance of community. Studies have shown that people who have a strong support network recover from illness and surgery faster than those going it alone. Relationships also help reduce stress and give life a greater purpose.

Being in quarantine has challenged our ability to develop and strengthen relationships. Zoom and Facetime have been vital to keeping our family connected during this time we are unable to travel to see one another. This is such a great time of year to get a tight circle of less than 10 people to be your “quaran-team” and set times to connect on an outdoor patio while following Covid-19 protocols with social distancing and masks. Relationships let us know we are not in this alone, reduce stress, and give us a moment to laugh and enjoy.

By incorporating heathy habits, we build a strong foundation for physical, mental, emotional, and spiritual health through and beyond the pandemic. Become passionate about taking care of yourself. Fall in love with the journey.

Cindy is a Certified Integrative Wellness Coach and personal trainer for professional women. She has been helping women achieve their health and fitness goals local and abroad for the past 15 years. For a free consultation, contact Cindy at cindy@whollydesigned.com.

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BOOK OF THE MONTH

BOOK OF T HE MON T H THE LEADERSHIP GAP: What Gets Between You and Your Greatness

BY LO LLY DA S K A L

Do people see you as the kind of leader you want to be? Are your strongest leadership qualities getting in the way of greatness? While the phrase “my greatest weakness is actually my greatest strength” may seem cliche, there is some truth to the term, as the reader uncovers the shadow sides of well-honed skill sets.

Lolly Daskal, Founder & CEO of Lead From Within and one of the most sought-after executive leadership coaches in the world, reveals her proven system, which leaders at any level can apply to dramatically improve their results. It begins with identifying your distinctive leadership archetype and recognizing its shadow. The rebel, driven by confidence, becomes the imposter, plagued by self-doubt. In all, Lolly delves into seven different leadership archetypes and their corresponding shadow sides.

Using psychology, philosophy, and her own experience, Daskal offers a breakthrough perspective on leadership. She’ll take you inside some of the most cloistered boardrooms, let you in on deeply personal conversations with industry leaders, and introduce you to luminaries who’ve changed the world. Her insights will help you rethink everything you know to become the leader you truly want to be.

MORTGAGE WOMEN MAGAZINE • JULY/AUGUST 2020

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