Mortgage Women Magazine September 2020

MORTGAGE

S E P T E MB E R /O C T OB E R 2020

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WOMEN MAGAZINE

A NE W ER A IN C A R E E R DE V E L OP M E N T #TR A I LB L A ZE RS:

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L AU R A E SCO BA R PR E S I D E NT O F E AG LE H O M E M O RTGAG E

PLUS!

T HE NE W NORM A L IN A P P R A I S A L S

T HE U NL IK E LY BE NE F I T OF L OW MOME N T S

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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EDITORIALS / ARTICLES To submit an article for consideration in Mortgage WOMEN Magazine, please send an email to ARTICLES@MortgageWOMENMagazine.com.

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

MORTGAGE WOMEN MAGAZINE POLICY The information and opinions expressed by contributing authors and advertisers within Mortgage WOMEN Magazine do not necessarily reflect those of Twelve 11 Media, LLC’s management and /or employees and should not be considered as endorsed or recommended by Twelve 11 Media, LLC.

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 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

PRODUCTION | Henry Suchman HSuchman@Twelve11Media.com DIGITAL MEDIA | Lucas Luna Lucas@Twelve11Media.com COLUMNISTS & CONTRIBUTING AUTHORS Michelle Baker Heidi Belnay Meghan Bennett Melissa Bird

Jessica Ehler Liz Irish Valerie Gordon Ashley Gravano

Andria Lightfoot Jane Mason Rupa Nada 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

Summer has come and gone, and for most of us in the mortgage industry, it was “business as usual” with a side of “more business than you can handle”. Instead of folks taking the traditional summer vacations and relaxing by the pool, thousands of mortgage employees spent 60+ hour weeks closing loans and navigating around constant changes in policy and pricing. It is usually around this time of year where the summer purchase season comes to a close, but in true 2020 fashion, purchase activity continues to be hot. Families are finding that, in this new normal, it is time to take a closer look at not only what kind of “must haves” are needed in their homes, but also where home needs to be geographically. There is a mass exodus from major metropolitan cities to rural areas that offer more space, high-end features at a lower price and a more affordable cost of living. Of course, the negative side effect of this shift in location is a further strain on inventory coupled with increasing values, making home affordability more difficult for low-to-moderate income families.

As the weather turns colder and days become shorter, there are many in the industry that are feeling the effects of long hours, lack of work/life balance, and feeling underappreciated. Many may even be contemplating their next career move, while taking a closer look at what is truly important to them. It is during this time that it is crucial to make smart decisions about what that next move might be and ensuring you are constantly equipping yourself with the tools needed to make that move. Career development should always be at the forefront of any strategic planning that you undergo in your life, so I hope you find the articles in this issue to be insightful and impactful.

As we continue to explore the different facets of the loan life cycle, this issue pays special attention to the critical aspect of underwriting. This issue is filled with nuggets of knowledge from some of the top women underwriters in the country, who are often considered the quiet heroes of the business. They constantly put their names and reputations on the line with every loan approval and are tasked to pour over stacks of documents to put together a picture of a compliant and quality loan. This is no easy task and is one that is often given not enough respect. So, the next time you see or talk to your friendly neighborhood underwriter, give them some love.

To all of my fellow parents who have had to put back on that teacher hat as kids return to remote learning, I am with you in solidarity. I thought I was pretty good a math, but this Common Core stuff is no joke!

All the best,

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.

Zero Down on Homes For Your Buyers!

learn more at: www.chenoafund.org

SEP TEMBER /OCTOBER 20 20

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F E ATU R E S

8 How Workflow Automation Has Gone Viral in a Global Pandemic

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JA N E M A SO N

14 The Unlikely Benefit of Low Moments

VA LE R I E G O R DO N

18 Five Tips to Disrupt Your Narrative

LIZ I R I S H & M E LI S SA B I R D

22 Women Lead the Way Through Underwriting Challenges

M I C H E LLE BA K E R

26 The New Normal in Appraisals

M EG H A N B E N N E T T

28 From Teaching to Lending

H E I D I B E LN AY

32 Walking the Career Tightrope

A N D R I A LI G HTF O OT, PM P, C S M

36 Break out of the Bubble!

RU PA N A DA , C M B , A M P

IN EVERY ISSUE 4 EDITOR'S FOREWARD 40 MOVERS & SHAKERS

42 #LEADING WOMEN

CHRISTY SOUKHAMNEUT

46 TRAILBLAZERS

LAURA ESCOBAR 49 CAUSE OF THE MONTH 50 ASK THE EXPERTS 52 THE C-SUITE 54 MORTGAGE MOMS 56 HOLISTIC WELLNESS 59 BOOK OF THE MONTH

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H O W W O R K F L O W A U T O M AT I O N H A S G O N E V I R A L

HOW

HAS GONE VIRAL IN A GLOBAL PANDEMIC

BY JA N E M A S O N

Mortgage servicing looks little like it did 20 years ago, thanks to technology and market events that have had profound and often devastating impacts on lenders, servicers, and borrowers, if not our entire economy. But if there is one particular characteristic that separates today’s servicers from yesterday’s, it’s dynamic workflow automation.

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The need for workflow automation was apparent to me from the moment I entered the industry. Today, many mortgage servicers rely on automated workflow technology, to some degree. But it took a series of natural disasters, and an ultimately global pandemic and economic crisis, for workflow automation to really take off.

The Beginnings of Automated Workflows

Before the 2007-2008 market crash, servicers primarily worked in the background and had minimal resources; in fact, they were typically looked at as the cost burden of mortgage banking. I was working for a legal firm that handled defaults when the market tanked, and all of our customers began experiencing huge volumes of requests for assistance. Suddenly, mortgage servicers found themselves in a brand-new world filled with intense regulatory scrutiny, punishing fines, operational challenges, and scathing criticism of their antiquated systems and processes.

It was complete chaos. But amid the

wreckage and unrelenting demand for homeowner relief, there was a huge opportunity to help servicers and their struggling back offices by deploying automated workflow technology. By automating complex manual processes and applying versatile, easy to change, dynamically-driven workflow throughout the entire servicing and loss mitigation process, servicers could eliminate their dependence on spreadsheets and hard coded tracking systems and save enormous amounts of time. In doing so, they could give their customers the attention they deserved.

It took years for organizations to rightsize themselves and implement new technologies and controls for governance and reserves. As I anticipated, organizations that embraced workflow automation fared much better than those organizations that simply chose one of the big-box servicing platforms that only sustained unhealthy paper habits.

One of the things I discovered about workflow automation early on was how relevant it was to other industries. After all, a process is a process. But I found workflow

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automation was specifically valuable to the healthcare industry, which was grappling with a similar level of complexity as the mortgage business industry. Most healthcare organizations were also mired in paper and manual work and were struggling to access the right data at the right time for the right role.

As just one specific example, many hospitals grapple with a lack of consistency among the work and critical decisions individual doctors make because there is an over-reliance on paper documents and recordkeeping, as well as a reliance on hard coded static back office systems, similar to the mortgage industry. This problem creates a lack of transparent protocols and evidence-based care, coupled with processes that do not provide visibility. This can lead to patients being released before they’re ready, only to be readmitted almost immediately, driving up costs and directly impacting patient results.

By using intelligent and dynamic workflow technologies, hospitals can automate clinical pathways and gain mobile access into realtime visibility of patient information and essential key risk indicators. Ultimately, this brings greater consistency and confidence in physician performance, better patient outcomes, and reduced readmissions.

The Impact of Disasters and a Pandemic

In the years immediately following the financial crisis, workflow automation received another major boost among servicers from Mother Nature. As wildfires, floods, tropical storms, hurricanes, and tornados ravaged many areas of the country, servicers again found themselves in need of better, more responsive technology that would support new processes and help distressed homeowners, as the industry added more complexity in terms of relief options and eligibility.

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Since 2015, natural disasters prompted more servicers to adopt automation that had the capabilities to automatically apply everchanging workflows, logic, business, and relief underwriting rules that were easy to use. This type of automation also enabled servicers to adapt quickly to sudden changes. Most importantly, perhaps, it allowed servicers to place greater control in the hands of their operations team, who typically serve as the “boots on the ground” when it comes to disaster relief efforts.

During a disaster, a servicer’s operations staff doesn’t have the time to wait for IT development to help them out. However, automated workflow technology can help operations staff immediately, providing them with the capability to own their part of the business.

The wave of natural disasters also accelerated the development of self-service technology that allowed borrowers to find relief whenever they needed it, day or night. This additional layer of automated workflow technology connected the myriad of industry players involved in the disaster-related processes and was capable of launching pertinent borrower workflows with the click of a button. It also provided much needed relief to servicers, who were weakened by sudden spikes of call volumes and requests for help.

Today, however, we are all dealing with a new disaster that is bigger, scarier, and more catastrophic than all recent natural disasters combined: the COVID-19 pandemic. In addition to massive numbers of borrowers applying for forbearance, servicers are forced to manage constantly shifting federal, state, and investor requirements. This has made it imperative to adopt workflow automation that is dynamic, flexible, and able to ingest and synchronize data from throughout a servicer’s ecosystem, including its business partners.

While millions of Americans have temporar-

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ily or permanently lost their jobs, more servicers have turned to workflow automation to help process enormous volumes of forbearance requests, deferrals, and permanent resolutions.

The results have been nothing short of incredible. In fact, large mortgage servicers we work with are currently using automated workflows to complete an average of 1,000 deferral requests per day. At the same time, self-service workflows are enabling borrowers to request forbearance and apply for loan modifications themselves through a virtually “touchless” process.

COVID-19 has also fueled new demand for workflow automation in the healthcare industry, as many hospitals have become overwhelmed by patients. By automating workflows, healthcare organizations have been better able to preserve limited resources such as hospital beds and ventilators as well as reduce burnout among doctors, nurses, and staff. Workflow automation can even help reduce the number of patient contacts, decreasing exposure to the virus.

While workflow automation is making loss mitigation and forbearance claims more efficient, there are different levels of automation at play. Many servicers continue to rely only on technology that automates a limited number of workflows. But by doing so, they aren’t completely eliminating their ties to manual processes that involve spreadsheets and paper documents.

To achieve maximum results, servicers really require full automation, bulk processing, and interactive decisioning engines that fully leverage data, create dynamic views, and complete eligibility determinations while giving consumers access to workout options. They also need all of these features to be seamlessly connected to create complete operational visibility. The idea is to place automation at the very center of loss

mitigation processes, which allows servicers to handle virtually unlimited volumes of forbearance claims and loss mitigation processes.

My Path as a Woman Entrepreneur

From my very start in the mortgage industry, my vision has always been to place technology in the hands of businesses so they can maximize their capabilities and efficiencies. I started my career working with a local law firm that delivered best in breed default legal services.

But my firm was missing what I felt was a key element to achieving success: business process automation.

Over time, I felt compelled to follow my instincts to create a new, broader form of process automation, one that included third party coordination and removed the operational chaos that existed in almost every industry. In 2004, I put together a team that shared my vision and set forth to create automated workflow software that would transform the very nature of mortgage servicing processes.

It wasn’t easy. Creating an entirely new approach to doing business was itself a challenge.

But doing so as a woman entrepreneur, it was even more so. I was often met with opposition amid what was then and still is a male-dominated culture. I was also competing against very large, publicly traded competitors that were entrenched in the marketplace. To break through, I had to rely on my persistence, passion, and belief in our technology.

Over time, I learned to meet this culture head on with grace, perseverance, and honest diligence to be the best we could be. But the early going was difficult. Many times, I found myself as the only woman at the table. Instead of letting this be a deterrent, I used it as motivation. I learned to take risks, expect setbacks, and pick myself back up quickly. In addition to capitalizing on this energy for myself, I poured

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this passion into our product.

Another early challenge came when I was pitching my company’s software to one of the largest organizations in our industry. I remember very clearly sitting across the table from someone who had serious doubts about our ability to deliver. “You're a small company with less than 30 people,” I was told. “Why should we give you our business?” My response even shocked me.

I looked them in the eye. “Bill Gates started his company in a garage and he was able to deliver.

So will I.” I won the contract.

Today, my company is one of the leading providers of workflow automation in our industry, but I didn’t get there alone. In fact, I wasn’t even particularly tech savvy before founding my company. I did, however, understand the concept of how technology would provide mortgage servicers with an easier way of doing business. So, I sought support from experts who could help bring my vision to reality.

Early on, Jim Stikeleather, a former CIO and CTO at Dell, and Peter Fingar, an author and former technology executive and consultant, became my mentors. We then brought together an extremely talented team of technologists who built what would become CLARIFIRE®, an automated workflow application that would streamline all business processes for mortgage servicers.

I really owe everything to my team. Over the years, every victory, and every challenge we learned from, we experienced together, which made our success that much more fulfilling. I also learned how valuable it was to create an inclusive culture where everybody felt valued, appreciated, and able to experience a sense of ownership in our success. I truly believe in the adage that it takes a village to succeed.

I’m at the point now in my career where my mission involves giving back and supporting other women entrepreneurs. In recent years, I

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began volunteering my time to mentor women in the business world by joining the Women’s Business Enterprise National Council (WBENC), Women in Housing and Finance (WHF), and the C200, a global organization of women in business leadership. These groups exist to support the professional development of women leaders and expand leadership opportunities for women.

My pursuit of workflow automation has given my career a deep level of meaning and fulfillment. And it has also reinforced my belief and sense of excitement that more women entrepreneurs will follow my footsteps, and leverage their own vision, passion, and outside the box thinking to transform our industry for the better.

At the end of the day, workflow automation has proven to be more than a game-changer for the mortgage servicing and healthcare industries. It’s really the only option for addressing sudden market shifts, even those that can change our entire world in a matter of days.

After all, we may never be able to prevent disasters, but by transforming chaos into clarity, we can always improve the way we respond to them.

Jane Mason is CEO and founder of Clarifire and the original architect behind CLARIFIRE®, a workflow automation application that brings all parties within mortgage servicing operations together onto one secure platform. She speaks regularly on industry panels and has been featured in numerous national, local and trade publications, including an article last February in Forbes on leadership strategy and on the cover of Tampa Bay Business and Wealth magazine for its June issue. Jane has received numerous awards and accolades, including recognition as a 2020 MBA Tech All-Star, a recipient of the 2019 HW Tech Trendsetter Award and, this year, the 2020 HousingWire HW Women of Influence award and the Women with Vision award from 20/20 Vision for Success Coaching and Mortgage Women Magazine. Jane was also honored with the Progress in Lending Association’s 2020 Innovations and Thought Leader Awards and its 2019 Lending Luminary Award.

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GOT CONFLICT?

! d o o G

THE UNLIKELY BENEFIT OF LOW MOMENTS

BY VA LE R I E G O R D O N

T

his year has been rife with challenges.

Uncertainty. Unease. Distress. We have no idea how it’s going to turn out. And that’s what makes it such a fabulous

story...

It’s not a story we enjoy living through, but the kind we’ll tell someday with newfound appreciation, the wisdom of hindsight and perhaps a bit of humor.

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That’s because the key to a great story relies on the challenge, typically in the form of conflict.

In a story’s narrative arc, it’s the “inciting incident” that puts plot into play. The introduction of conflict throws the protagonist off-course, creates adversity, and requires development and growth.

Eventually, on the other side of the heroine’s journey, she’ll experience what ultimately makes the story satisfying: the glory of triumph.

T H E U N L I K E LY B E N E F I T O F L O W M O M E N T S

Want to get to the story resolution, your “Happily Ever After?” Accept the challenge and confront the conflict.

In our own lives, we’re pre-dispositioned to be “conflict-averse,” avoiding it whenever possible. As women, we tend to prioritize harmonious relationships over self-gain and find it easier to care for others than consider our own needs.

In doing so, we often create more internal conflict. Feel like you’re facing similar challenges, reading the same chapter, over and over again? You’re stuck in a state of conflict!

In my work as a career and communications coach, I encourage clients to consider the unlikely benefits of all types of conflict, which is why I refer to them as the “Unlikelies.”

The “Unlikelies”

The “Unlikelies” are story elements we don’t like and think are unlikely to help us. Yet, learning to identify and act upon those “Unlikelies” is key to advancing the story and ultimately landing at the resolution.

The very things we attempt to avoid, those struggles and challenges that make our lives more difficult, are often what lead us to where we’re meant to be. Only in hindsight can we see how they created the pivot points necessary to create change and opportunity.

Take a look at two common “Unlikelies”: Dissatisfaction. Who likes being dissatisfied?

Not me! We strive for a sense of satisfaction in our lives. Dissatisfaction indicates a lack of equanimity and peace.

Dissatisfied with your salary, your relationship with your boss, that you can’t get your favorite jeans to zip comfortably? Identify the causes of dissatisfaction and take the action steps to achieve a state of satisfaction. When you’re no longer satisfied with the current state,

repeat the process. This story driver creates continual personal and professional growth.

Envy. Envious of your colleague’s unflappability, your friend’s relationship, your cousin’s puttogether look? Turning green-with-envy from something someone else has that you desire?

Examine the envy and what it symbolizes. Why are those things important? What does it mean to you? How can you fulfill that desire in a way that’s authentic to you?

Disappointment, complacency, and regret are also unlikely story drivers.

The struggle is what makes a great story.

The conflict is what makes it interesting and worthwhile. The outcome is what we’re working for.

Yet so many of us are so afraid of conflict that we’d rather stay in a situation that makes us unhappy rather than face the uncertainty of the unknown.

Which is why uncertainty is our number one Unlikely this year.

How did this happen?

What will happen next?

What should we do?

Uncertainty keeps us stuck in a state of fear.

How can we move forward when we don’t know what’s going to happen? The planners among us want to be sure our choices will lead to a positive outcome. But we can’t know the end of the story until we create the plot points to get there.

There’s only one certainty. Change nothing and nothing changes.

Once you spot an Unlikely, how do you combat it? Here are eight tips to curtailing the conflict, identifying the inciting incident, and advancing the storyline.

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1. Name the Feeling – What’s causing you to feel this way? Get clear and specific with your emotions. Emotions run well beyond “good” and “bad.” Are you feeling dismayed, overwhelmed, insecure, or exhausted? Describing and naming the emotion is key to separating feeling from action. If you don’t want to take the feeling into your future, leave it in the past.

2. Identify the Cause – Who, or what is getting in your way? Are these challenges external or internal? Is it a temporary discomfort or something that requires a longterm strategy? If you find you continue to struggle with the same challenges over and over again, consider how you might be the common thread in creating it.

3. Get Active – Action is the antidote to anxiety. Action creates plot. Plot moves the story along, from conflict to resolution.

Resist the urge to wait for something to happen. The key to actively authoring your own story is to get active.

4. Reframe the Narrative – Many clients insist a situation is “unchangeable.” They can’t ask for the raise because there is a salary freeze, they can’t leave their horrid boss because of a lackluster job market, they can’t lose weight to fit their jeans comfortably because they really love Oreos. If you feel you can’t change your situation, change your thinking. Reframing your narrative can be an effective coping technique and story driver, much like positive thinking or practicing gratitude.

5. Consider the Optimal Outcome – To avoid getting stuck at the beginning, start with the end. Align your actions strategically with where you’d like the story to go. Visualizing the positive resolution and actively plotting the steps to get there is key to

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advancing your story. If you can’t see it or think it, you can’t create it!

6. Micro Actions Matter – A journey of a thousand yards starts with a single step.

Small goals make big goals. I encourage clients to take the “first, next step.”

It doesn’t have to be perfectly choreographed with the rest of the dance. Newton’s Laws of Motion proves that objects in motion tend to stay in motion. Just get started. And once you do, keep going.

7. Enlist a Second Opinion – Objectivity matters. It can be difficult to see our story clearly (and our role in our own story) when we’re right smack in the middle of it. Like an editor or a co-author would offer, use perspective from a trusted colleague or close friend.

8. Get Out of Your Own Way! We face enough hurdles and roadblocks without setting them up on our own. Secondguessing, self-loathing, and beating yourself up for past mistakes create further internal conflict. Be your own supporting character, not the evil villain in your story.

Most importantly, know that the conflict you’re experiencing means you’re at the start of a great story. Won’t it be wonderful to reach your “Happily Ever After” and see how you’ve triumphed?

Someday you’ll be able to use the story to inform or inspire others. Or at least to look back on it and laugh.

And that is a likely and very likeable outcome to your Unlikely.

Valerie Gordon is the founder of career and communications strategy firm Commander-in-She. She trains high-performing clients and teams on the art of storytelling for impact and influence. See her work at https:// commander-in-she.com.

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FIVE TIPS TO DISRUPT YOUR NARRATIVE: WISDOM FROM INTE RVIE WS WITH WOM E N IN MORTGAG E

BY LI Z I R I S H & M E LI SSA B I R D

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Last year Liz and I founded a company called Aisling (pronounced ashling) Productions. In Ireland, Aisling means “dream” or “vision,” and Liz and I have a big one.

Our mission is to create conferences and events to disrupt how women in the mortgage industry come together and learn about how to create wealth and make serious money.

Liz has been in the mortgage industry for over 25 years, and, for over a decade, I have been teaching women how to harness their inner rebellion to change their lives. Together we are an unstoppable force and we hope to bring you wisdom gleaned from dozens of interviews with women from all over the country.

Nearly every woman we have interviewed has said, “I didn't grow up dreaming I would go into the mortgage industry, I really just fell into it.” This was a resounding message from so many women. What happens when you fall into a business is that oftentimes you can be left feeling like you are on an island. Because finance is often times a male-dominated industry, women can be left feeling isolated like they are fighting an uphill battle, especially when there are few women in the company.

THE THREE MOST POWERFUL LESSON I LEARNED

These tips for disrupting your narrative come from some of the leading producers, managers, and CEOs in the industry.

1. It doesn’t serve anybody to pretend you are someone else.

2. Find people with your same drive and passion.

Authenticity is the way to wealth. Success doesn’t come to women when they act like anything other than who they are. The mortgage industry needs you to just be you. If you are trying to be someone you are not, your clients and your coworkers will know it.

If you are working in a company and the people around you don’t hold your same values, success will be elusive at best and impossible at worst. It is ok to leave a company if the people you work with don’t match your drive. Ask around and find the company that works best with your personality.

3. Advocate for yourself.

I cannot tell you the number of times that we heard, “be comfortable in your own skin.” If your confidence needs a boost, then ask your company to pay for coaching or hire a coach yourself. There are a great number of amazing coaches whose talents are in helping women build confidence to increase their wealth.

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4. Lead with empathy. Being a woman is an asset, not a liability.

It is our ability to nurture, connect to our intuition, and connect with our clients that makes us uniquely suited to being very successful in our work. Listen to your gut, if it is telling you that client is wrong for you, know that it is ok to tell them that you aren’t the person for them.

By letting go of those clients, you are giving them an opportunity to find the perfect mortgage professional for them and you are creating space for your ideal client to walk in your door.

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5. Take a risk and step out of your comfort zone.

If you want something, whether it is more money, the office with a better view, or more time with your family, don’t feel bad about making the ask. The number one way women sabotage themselves is by not being clear about what they need and asking for what they want to make it happen. You have full permission to ask for everything and be unapologetic about asking.

Liz and I would like to leave you with the knowledge that you don’t have to do this alone. Hire a coach, find a mentor, or create a village of amazing women (and men too) who are able to help you disrupt the narrative of “I can’t do this” so that the words you say regularly are “Yes I can.”

If you would like more information about Aisling Productions and our Women Producers in Mortgage Conference please visit us at www.aislinproductions.org.

You can follow us on Facebook and YouTube.

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W O M E N L E A D T H E WAY T H R O U G H U N D E R W R I T I N G C H A L L E N G E S

y a W e h t d a e L Women THROUGH UNDERWRITING

BY M I C H E LLE BA K E R

You can sum up the current mortgage market in four words: low rates, tight credit. These four words aren’t just accurate, but they also reflect the biggest challenge facing lenders today.

Historically low rates have borrowers flocking to lenders in droves to refinance their loans.

Yet the struggling job market has led to a tightening of credit, which means many borrowers aren’t getting the rates they hoped for, and some aren’t getting loans, either.

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CHALLENGES Underwriters are right in the thick of this conflict. As an underwriter myself, I’ve seen how the pandemic has quickly changed the lending landscape. Like many others in my position, I’ve had to stay on top of constant changes to underwriting and investor guidelines.

But adapting to change seems to come easier for some than others.

And for women underwriters in particular, this market has become the opportunity of a lifetime.

Why More Women Are Becoming Underwriters

After more than 35 years in the mortgage industry, I’ve learned that it takes the right person with a lot of patience to navigate the ever-changing credit landscape in underwriting. Underwriters must be able to multi-task, be naturally inquisitive, level-headed, and open minded. For these reasons and others, I believe women are particularly well-suited to work as underwriters. And the number of women working as underwriters is soaring.

One obvious reason for this trend is that lenders have added

a lot more underwriters this year to keep up with demand.

With mortgage volume rising significantly, lenders can’t seem to hire underwriters quickly enough to avoid huge backlogs of applications and ensure loans close on time. I can only speak from my point of view, but I’ve noticed the majority of mortgage underwriter positions being filled are women. Why is this?

For one, many women start out in the mortgage industry as loan processors; in fact, most loan processors are women.

With the increase in demand,

many have made the leap to underwriters to keep pipelines flowing. But I believe the reason more women are underwriters runs a little deeper than this.

Good underwriters are investigators by nature; people who stick to guidelines and pay careful attention to detail. They also need to be able to juggle many tasks at one time while keeping a cool head. These are traits we often attribute to women, and there is growing evidence to support why. For example, a 2019 analysis by the Harvard Business Review found

that women excelled at taking initiative, acting with resilience, practicing self-development, driving for results, and displaying high integrity and honesty.

These are all critical skills in underwriting.

Also, buying and selling a home is a stressful process. It’s important to have some empathy when underwriting the loan.

I may be biased, but I feel women tend to think like this. We understand what borrowers are going through, and we’re able to take this into consideration and work diligently to make a deadline to close on time.

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Juggling Responsibilities and Regulatory Guidelines

With our industry experiencing so many changes to credit guidelines, navigating these constant adjustments has become tricky for even the most experienced underwriters. Guidelines that shift weekly or even daily places enormous pressure on underwriters, especially when a small mistake can prove to be quite costly. It takes a lot of self-discipline to stay current on these frequent changes and at the top of your regulatory game.

Every day, underwriters must look for any notification that guidelines have occurred, then take time to understand these changes and review files accordingly. We all do the best we can, but women are typically well-equipped to handle these abrupt changes and adapt to new guidelines quickly. Perhaps it’s a testament to our experiences of balancing our professional and family lives and our ability to make sudden adjustments when life throws us a curveball.

Good underwriters also stay current on the latest industry developments, and women are also generally good at keeping up with what’s going on around them. We all know that guidelines have tightened and minimum credit scores have increased. But we’ve also seen guidelines altered for selfemployed borrowers, especially with fluctuating income, as well as cash-out refinance requirements, because of the risk these

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loans carry based on employment uncertainty.

We’re really experiencing a new underwriting reality. For example, we must now verify the borrower’s employment on the day of closing instead of within 10 days before closing, like it was only a few months ago. Additionally, some investors now require asset documents not to exceed 60 days on the date of the note. So, in recent months we have seen the maximum loan-to-value (LTV) for cash-out refinances lowered, credit score qualifications increase, and reserve requirements also raised.

The Value of CommonSense Underwriting

Again, I may be partial, but I believe most women possess good common sense, which is another important underwriting skill. While we want to do our best to manage risk, especially today, the loan decisions we make are frequently determined by using simple common sense.

We often forget that underwriting is an art, not a science.

Automated underwriting services only see so much of the loan scenario, so it is our job as underwriters to fill in the cracks.

Sometimes it helps to take a step back and ask yourself if this decision is the best for your company and for the borrower.

Fortunately, my company, Embrace Home Loans, empowers us to use common sense when underwriting any loan that we

find particularly important. This has often made a real difference for our customers.

Ultimately, all underwriters, whether they are women or men, must be diligent about making sound underwriting decisions and always treat each other as equals and with respect. However, I also believe it’s important for women to mentor other women and help contribute to their success.

Personally, I’ve been lucky enough to have many women mentors who had a great deal of influence on me and how I approach my job, and gave me many opportunities to advance my career. Today, I’m doing my best to return the favor by helping other women get off to a strong underwriting career.

I believe most people want to be better today than they were yesterday. As underwriters, we should always strive to do the same. Fortunately, the current environment has given us the opportunity to shine and really work through some critical challenges. When I step back and look at the big picture, it makes me proud to know that women are leading the way.

Michelle Baker is a mortgage underwriter with Embrace Home Loans in Rockville, Maryland. She is responsible for underwriting FHA, VA, and conventional loan products while maintaining quality and complying with investor and company guidelines.

An industry veteran, Michelle has over 35 years of experience in mortgage financing.

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THE NE W NORMAL IN APPRAISALS

s l a is ra pp A in l a rm o N w The Ne

SA F ET Y, A LTE R N ATI V E I N S PE C TI O N S , B I FU RCATI O N , A N D TE C H N O LOGY

BY M E G H A N B E N N E T T

The coronavirus pandemic has substantially changed life as we know it.

During the initial outbreak, the main priority was to slow the spread of the virus with ‘lockdown’ mandates and stay-at-home orders. Many companies adapted quickly, creating social distancing protocols or moving their teams, either wholly or partially, to a work-from-home model. Some businesses closed entirely. After five months, many of these changes remain in place, with some beginning to feel more permanent in nature. A ‘new normal’ has emerged for much of the world.

The mortgage sector is no exception, including appraisers, who have in many ways been operating on the ‘frontline’ during the pandemic. Our industry is dependent on appraisers being able to deliver property valuations to banks, mortgage lenders, and non-banking financial services companies. Nevertheless, the nature of their work creates some very specific health and safety concerns given the traditional dependence on physical visits to assess the value of a property. Appraisers really are essential workers in the mortgage industry.

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The Change: Alternative Inspections

Fortunately, federal government agencies, including Fannie Mae, Freddie Mac, the Federal Housing Administration (FHA), the Veteran Administration (VA), and the U.S. Department of Agriculture (USDA), issued new, temporary appraisal standards and procedures that allow for alternative inspections to minimize or eliminate physical contact. The new guidelines involve: •

Assessing risks by phone in advance of the appraisal by asking a number of set health and travel questions;

•

Using alternative appraisal methods, such as drive-by inspections or desktop appraisals; and,

•

Sourcing interior information using alternative sources, such as multiple listing service (MLS) or photos sent from the homeowner, rather than physical, in-home inspections.

In a few, short weeks, alternative inspection methods continued to multiply. As a result, the pandemic has helped to demonstrate the reliability of a bifurcated process, and we are now possibly witnessing the creation of a path for a more permanent use of new appraisal technology.

Alternative Inspections: The Next Step

As a result of the pandemic, several companies introduced technology to allow the appraiser to ‘observe’ the inspection of the property without physically entering it. Some of this technology includes: •

Mobile technology to capture every room and other parts of the property. The technology is similar to flight simulators that help train airline

•

pilots and recreate an accurate, three-dimension visualization of a property and its surroundings.

will benefit. Alternatively, appraisal applications may become available as a downloadable app or accessible via a web browser.

An intelligent, online appraisal portal that reacts accordingly to each unique property appraisal. For example, if the appraisal identifies that the property requires repairs, local cost estimates and recommendations of vendor companies are automatically delivered to the appraiser.

Limiting Risk

The proliferation of appraisal technology can significantly increase the amount of completed appraisals and change how quickly appraisals occur. As with any market, the devices that appraisers use will likely become smarter, smaller, and lighter, and appraisers

Today, technology can streamline and validate many parts of an appraisal in order to: •

Confirm compliance with the Uniform Standards of Professional Practice (USPAP);

•

Create automated rules engines that reduce errors and identifies discrepancies; and,

•

Increase security measures and prevent fraud with the use of artificial intelligence, machine learning, and geofencing, a location-based confirmation service.

The market is currently con-

tinuing to grow with record low-interest rates, an enormous appetite for refinancing, and a demand for new homes in many states. The pandemic is clearly still affecting the way we work, but alternative inspections are keeping property valuations moving forward despite all the challenges. The support and adoption of new or existing appraisal technology will most likely continue; first as an immediate solution to the challenges of the pandemic and, beyond this, as the industry more fully realizes their many benefits.

Meg Bennett is vice president of business development at Computershare Loan Services. Bennett believes in building solid, long-term partnerships with lenders and offering solutions to reach their goal.

She resides in the suburbs of Athens, Georgia with her husband and two sons.

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FROM TE ACHING TO LENDING

From Teaching to Lending

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BY H E I D I B E LN AY

FROM TE ACHING TO LENDING

Like so many others, I landed in the mortgage industry by, well, freak accident. In 2012, after moving over 100 miles from home, I found myself as an unemployed teacher in a time of huge school budget cuts and layoffs here in New Jersey. I started feverishly applying for anything I could find just to help pay the bills. I finally heard back from a job that I had found on Craigslist, of all places, a small startup appraisal management company (AMC). By chance, and I believe by pure fate, the owners’ daughter was also a struggling teacher, and after reading my resume, they decided to bring me in for an interview.

I had no idea what I was walking into, to be honest I did not even know what an AMC was at that point in time, and didn’t I realize that, in that exact moment, my entire career path had changed. I started part-time and, unbeknownst to me, my nickname was “Heidi Helper” to my co-workers, who have since become some of my closest friends. I later learned that they lovingly and secretly called me by this nickname before telling me about it years later. We have since shared so many laughs over that.

I very quickly fell in love with the industry and never looked back at teaching again, much to my Dad’s dismay. Sorry Dad! I was like a sponge and wanted to learn all aspects of the business and industry. I went from helping around the office doing whatever I could to signing on new appraisers when and where I saw the need arise. From there, I ended up building out our entire appraisal panel within a little over a year. I practically begged the president of the company to bring me to industry events so I could get involved and meet as many people as possible. Within a few years’ time, I handled all vendor management and business development for the company while working side-by-side with the owners who al-

lowed me the opportunity to work from home after having a little girl.

The company grew rapidly from a few local clients and credit unions to some of the biggest mortgage companies in the industry.

We went from covering just two states to 15 , from just a handful of orders a day to a fully staffed team that could barely keep up with the volume on some days, and from around 20 appraisers to over 800 appraisers that I personally had a hand in signing on. It was such a great experience; I learned and grew so much thanks to the amazing owners who I am still lucky enough to call friends. I am forever grateful that I stumbled upon that Craigslist ad and that someone gave me a chance. For the longest time, I put myself last, including in my career, so that I could focus on my family. So many women have had this same experience.

It’s something I certainly do not regret in the least; it was what was right in that time. This job changed that for me and opened the door to so much opportunity. I found my people, my industry, and my career all while caring for my family.

In 2019, everything quickly changed for me in my personal life when I found myself in the middle of an admittedly and shockingly ugly

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FROM TE ACHING TO LENDING

divorce with someone whom I had spent more than half of my life. As almost anyone who has been through divorce will tell you, it is a journey you never ever planned and it takes you on so many unexpected twists and turns for which you can never prepare.

It was a wild ride, and, at many times painful, but I focused on myself and my daughter.

I knew there was a light at the end of the tunnel and never let that out of my sight, even on the darkest days. I promised myself from the very beginning that the experience would not define me and that it would not lead to a dead end, but rather to a new beginning. During this time, I finally realized my potential and learned so much about myself through the process. I was and am still absolutely amazed by my own strength and determination. I managed to put myself and my happiness first for probably the first time. I learned the true power and value of happiness and the value of myself at the same time. I truthfully became a better version of me as both a human and, even more importantly, as a mother. While unexpected, I know without any doubt that I am finally right where I belong in the world. And in the end, from the other side of it all, I can confidently tell you all that the experience somehow turned my life right side up.

With this behind me, I became more determined than ever. I set huge goals backed by not only my brand-new mindset, but also the need to create and sustain the best life for me and my daughter. I somehow knew deep down with certainty that this was going to be my year and I would not let anything stop me. I constantly told anyone who would listen that 2020 was going to be the year

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of my career, even if I honestly wasn’t sure exactly what that meant at the time when I said it. What I did know for sure was that I wanted to stay in the mortgage industry; I just needed to find my place in this space. I loved my team and job at the appraisal management company and was only willing to leave if something undeniably perfect came along. I was picky; I applied for a handful of jobs with some of the best and biggest names in the industry. Then, in my search, I found THE job, what I can only describe as my dream job. The description and outline of the role felt as if it was written for me, a perfect combination of what I was already doing and what I wanted to ideally do, all for a start-up company called Reggora in the mortgage space. I quickly applied and asked each of my friends to cross their fingers and toes that the company would call.

I was lucky enough to get an interview, and then the coronavirus pandemic hit our country. And, as we all know, it hit hard and fast. While this quickly and sadly devastated much of the economy, those of us in the mortgage industry found ourselves in some of the busiest times in all of history, all while finding our new normal at the same exact time. Can we talk about what a resilient group we are though?! Those first few weeks were an absolute whirlwind, but in the midst of it, I got the job offer! With so much uncertainty, I landed my dream job, and I am still to this day pinching myself over it. I reached out to some of our top industry leaders for their input and opinions on switching jobs during that time, and every single one of them was not only more than willing to hear my story and weigh in, but also told me with-

FROM TE ACHING TO LENDING

out any hesitation to take the leap. A special thank you to those people for not only taking the time to talk with me, but also for the endless support. Our industry is so tight knit with such a sense of camaraderie; I will never forget the guidance and advice I received during that time. Looking back now, it actually seems so appropriate that in a time of total chaos, I again found my place. It is amazing what you can do when you set your mind to something and you do not let anything stand in your way.

I have been with Reggora for about four months now as the partnership manager and I am so happy in my decision to join this amazing team. In this role, I work to onboard our AMC partners for mortgage lenders, and I manage our ongoing relationships with each of the AMCs. In my short time here, I have already had the opportunity to meet so many new people in the industry, from both the lending and AMC side, and I look forward to working with so many more of you as we continue to quickly grow. I have the best team, who supports one another, and I am learning so much about this space in the mortgage industry. Our company is made up of some of the best in the software and mortgage spaces and we are led by two people who, mark my words, are set to disrupt this industry in all the best ways. It has been so great to be back in a start-up space to grow with a company that I am proud to stand behind. Creating and building new processes and relationships is where I thrive. I have found my place and cannot wait to see how far this company goes.

Many people have told me over the years that their biggest successes came from taking the biggest risks. My own life

experience is living proof. When I could not find a teaching job, I instead took a risk and landed in an industry I knew absolutely nothing about, an industry that ended up becoming my home. When I found myself in a divorce, I not only learned my own value, but also found myself and my happiness at the same time. When faced with being a single mom during a (hopefully) once in a lifetime pandemic, I kept focused on my goals and landed my dream job.

Promise yourself that when faced with adversity, you too will take the chance to pivot and rise above it all. I truly believe that so much opportunity still exists out there.

Yes, even now! Take risks, big risks when life calls for it, and remember to always believe in yourself and your vision. There is honestly so much power in positive thinking. And last but not least, we are so lucky to be in this space, and there are so many great people in this industry who want to see you succeed and will help you. Put yourself out there and talk to anyone you can; you just never know where just one conversation can take you. Without risk, you may never reap the rewards life has in store for you.

Heidi has been working in the mortgage industry since 2012 and is currently the Partnerships Manager at Reggora. She grew up and lives by the beach in New Jersey with her 6 year old daughter, Gretchen, who is also her best friend. Their favorite things to do are to travel and explore; Heidi is never one to turn down an impromptu day trip and often jokes that the Garden State Parkway is her second home.

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WALKING TH E CARE E R

BY A N D R I A LI G H T F O OT P M P, C S M

A

Tightrope

common metaphor frequently invoked to motivate women in the workplace toward success is that of a hiker. Just put in the hard work. Climb, climb and you will reach the highest vista or the tallest summit. Clearly, those life coaches and motivational authors have never attempted to work a full-time job, get a graduate degree, and teach second grade math via homeschooling at the same time as many working moms are doing today. If hiking was my metaphor for achieving success in life, I think I would trade-in my hectic, multitasking, non-stop schedule for a nice long rest along the side of the trail! My actual experience as an executive, wife, and mother, however, has been very different from the hard work equals success hiking metaphor.

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WA L K I N G T H E C A R E E R T I G H T R O P E

For many female leaders in the workforce, our experience is far more like walking a tightrope than climbing a mountain. Maximizing career opportunities, without sacrificing the fabric of who you are as a person, is a delicate balance for women. Any great tightrope walker can tell you success has four key components. First, you must strengthen your core. Second, you don't look down. Third, balance is your friend. And lastly, keep on pushing until you reach the other side.

1. STRENGTHEN YOUR CORE

Pilates jokes aside, the core strength of great leadership is empathy and vulnerability. Don't be fooled; they are not just “soft skills," and they both influence many of the other skills we are all trying to cultivate in a successful career. Active, empathetic listening requires hearing what someone is trying to communicate below the surface, and it takes practice, authenticity, and integrity.

Look to what strengthens the core of who you are and develop those traits that keep you grounded and focused. Start by showing yourself some compassion and empathy!

Stay curious to what interests you, excites you, and yes, bores you to death! If you are early in your career, listening closely to those around you will help develop important skills required to manage others. Perhaps you are stuck in a position where you feel you are not being utilized to your fullest potential. Then watch and listen, deeply! I once had a manager who kept telling me he was committed to my promotion only to ultimately be passed up. I finally stopped hearing what I wanted to hear, and listened to the meaning behind his words. Ultimately, I left that position and was promoted at a new company with a manager who’s verbal and non-verbal behaviors were congruent.

Brene Brown has championed these concepts in the New York Times Bestseller, Dare

to Lead. Brown is quoted as saying, “Empathy is a choice. And it’s a vulnerable choice, because if I were to choose to connect with you through empathy, I would have to connect with something in myself that knows that feeling.”1 When approaching career opportunities either within an organization or evaluating future advancement outside of your company, tune into the power of vulnerability and empathy. These two core values will help you find a position that is most likely to be purposeful and fulfilling.

2. DON'T LOOK DOWN

Fear is the great equalizer. The fear of the unknown is a real limiting factor for many women looking to grow beyond their current position. The goal in life is not to eliminate fear, but to face it with courage and confidence. Death-defying tightrope walkers all have learned this secret. Instead of looking down, they keep their heads up and focus on their purpose. My purpose as a working mom of two? Get to the "other side." That "other side" may include a key business initiative, a season of basketball, or even a difficult conversation with a co-worker to coach them up.

Mika Brzezinski, interviewed dozens of high-powered female executives for her book, Know your Value: Women, Money, and Getting What You’re Worth. One common thread across this group of highly successful and diverse women is that the definition of success is the ability for women to simultaneous acknowledge the existence of “the boys’ club,” while also facing it head on with grace and sometimes a sense of humor.

Brzezinski says, “Knowing your value means owning your success. Owning your success means acknowledging your achievements.

By acknowledging achievements, you build confidence.”2 She is right! Confidence comes from within. It is not achieved by obtaining the actual goal or success. It is achieved when

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we no longer require others’ definition of our quickly to changes in the rope’s sag. Many value to make us feel valued. When circumof us may live in such fear of upsetting the stances within the workplace are intended to balance that we forget that it is only by testdegrade and belittle your achievements and ing it that we find the optimal efforts, remember that those balance. Ever felt like you are macroaggressions are intended working at your absolute best THE to force our eyes “downward.” If but can’t keep up at home? you allow your focus to be kept Ever feel like mom of the year EXPERIENCED downward then you limit your and somehow miss deadlines TIGHTROPE possibilities and quite regularly, at work? The balance between WALKER IS ABLE your paycheck! Whatever your what is meaningful in our proTO FIND THE purpose, do not let discouragefessional and personal lives is “SWEET SPOT” ment knock you off-balance the total amount of optimal sag from knowing your worth. Don't BET WEEN TOO that only you can determine for look down! yourself! Comparisons to someMUCH SL ACK one else’s journey do not help AND TOO 3. FIND YOUR OPTIMAL you in practicing how to find the LITTLE. SAG (AKA – BALANCE) sweet spot between the need I know what you are thinkto tighten up and when you ing: find your sag? How can need to cut yourself some slack. that possibly help me with my career trajecMichelle Obama said it best, “There’s power tory? Well, listen closely. The tension of the in allowing yourself to be known and heard, tightrope itself can dramatically impact the in owning your unique story, in using your performance of the tightrope walker. A tight authentic voice.”4 Continue to practice finding rope with little to no sag or give will make where the balance feels right in your life, ownfaster vibrations; whereas, a loose rope with ing your own journey across the tightrope. lots of slack will result in larger back and forth swings.3 The experienced tightrope walker 4. KEEP ON PUSHING is able to find the “sweet spot” between too Any woman who has negotiated a promomuch slack and too little. Even more fascinattion or salary increase can probably relate to ing is that the sag of a rope will change as the Philippe Petit quote from the 2008 docuthe individual walks along it whether closer to mentary, Man on Wire. Says Petit of the feats the edge or out exposed in the middle. When of strength required to tackle the challenge tackling new challenges and attempting to before him, “It’s impossible, that’s for sure. So, balance personal and professional goals, you let’s start working.”5 I acknowledge that many need to find your optimal sag. companies lack a culture where inclusivity So how do expert tightrope walkers find and diversity are championed. However, facthe balance between walking a rope that is ing down gender discrimination throughout too tight and downright dangerously loose? your career requires putting one foot in front Repeated practice. The central nervous of the other. I get it. We are put in high stakes system develops muscle memory to respond situations where outperforming and outshin-

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WA L K I N G T H E C A R E E R T I G H T R O P E

ing are our tools of the trade. As women, don’t look down. And, when the very rope underneath my feet begins to sway, I balwe can promote our careers and the cause ance myself on the most important tasks that further when we actually pay more attention provide me with lasting joy, motivation, and to being respected than being liked. CEO and hope. Then, even after all I can founder of Girls Who Code, an do, I keep on pushing forward international nonprofit, Reshma AS WOMEN, WE with a tenacity that comes from Saujani, said it best, “The work knowing my value. To the real here isn't to figure out why they CAN PROMOTE trapeze artists who balance and didn't like you, or who's right OUR CAREERS do the dance every day, there is and who's wrong. It's to practice AND THE CAUSE a sense of freedom and accombeing okay with the idea that FURTHER WHEN plishment of doing what so many there are some people who will get you and some people who WE ACTUALLY PAY others cannot. You defy the won't...and that's fine.”6 Keep MORE ATTENTION odds, you change the game, and pushing, keep showing up, and you do it all on a tightrope.

TO BEING give your best. Perfection is not RESPECTED THAN required for success; persisBEING LIKED tence in the face of adversity is.

The best advice I ever got was from a female FinTech executive several years back. I was bemoaning the paradoxical challenges many women face while attempting to pursue goals and dreams, while balancing relationships and families.

She essentially assured me that I would find my way. That simple, affirming validation led me to consider that I was approaching the journey all wrong. There is no one single vista to reach. My career path is much more like walking a tightrope. When I can acknowledge that my career choices do in fact feel high stakes, intense, and often scary, I can find my way across the precipice. I intentionally spend more energy on strengthening the core of who I am, and with empathy I try to focus less on what others think of my performance outside of constructive feedback. When I am scared, I hold space for myself to face the very real fears that I am not enough. Then, I keep my eyes fixed on the goals ahead and

Andria Lightfoot is the COO at George Mason Mortgage, LLC. Andria’s primary role at GMM is to develop and execute transformational technology methodologies to foster organizational growth and promote operational efficiency.

She has held a variety of leadership positions in the mortgage industry over the last 15 years in Information Systems and Compliance. Andria holds a Bachelor of Science in Human-System Development from Brigham Young University and is currently pursuing her Master’s in Information Technology Management at Georgetown University in Washington, DC.

END NOTES Brown, B. (2018). Dare to Lead: Brave Work. Tough Conversations.

Whole Hearts. (First Edition). Random House.

1

Brzezinski, M. (2012). Knowing Your Value: Women, Money, and Getting What You’re Worth (Reprint ed.). Hachette Books.

2

Loury, E. How to Become an Expert Tightrope Walker. (2017, December 10). Science | AAAS. https://www.sciencemag.org/news/2012/04/ how-become-expert-tightrope-walker 3

4

Obama, M. (2018). Becoming (1st Edition). Crown Publishing Group.

Chinn, S. (Producer), Marsh, J. (Director), & Petit, P. (Performer).

(2008). Man on wire [Motion picture]. United States: Magnolia Picture.

5

Saujani, R. (2013). Women Who Don’t Wait in Line: Break the Mold, Lead the Way (1st ed.). New Harvest.

6

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B R E A K O U T O F T H E B U B B L E!

BREAK OUT OF THE

BUBBLE

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BY R U PA N A DA , C M B , A M P

B R E A K O U T O F T H E B U B B L E!

M

ost self-help books and authors define “career development” as the lifelong process of managing learning, work, leisure, and transitions in order to move toward a personally enriching future. While each of the above steps plays a critical and vital role for growth, career development is also about developing one’s skills that prepare you to best deal with change.

It is not uncommon to face unforeseen circumstances in our personal and professional lives. It is how we react or not react to these forces beyond our control that plays an equally important role in our personal and professional growth. Here are a few things we CAN control in our careers…

EMBRACE DISRUPTION

We are in an historic moment in our lives, having witnessed firsthand the effects of a global pandemic of which we have no control. We face many challenges as a society, and we have adapted to this new normal. Disruptions in our careers are a more common occurrence than a once in a 100year event; and, most of us struggle to deal with change in our work lives.

Imagine a road trip with disruptions caused by weather, back-ups, and detours created by road work. Would it stop us from getting where we want to go? No! The journey continues, albeit at a slower pace to our ultimate destination.

We need to have the same attitude and approach with our careers; speed bumps are an inevitable part of the journey and we may need to take a detour to reach our goals. “Take on a risk when it makes sense,” says Claudia Merkle, CEO of National MI. Merkle speaks from experience: she made

It is not uncommon to face unforeseen circumstances in our personal and professional lives. It is how we react or not react to these forces beyond our control that plays an equally important role in our personal and professional growth. a big move, both geographically and professionally, when she moved from the East Coast to the West Coast eight years ago to work for the private mortgage insurance company. The move paid off: Claudia was promoted several times, and, in early 2019, she was promoted to CEO. View challenges that result from a change as an unexpected opportunity and learn to make change work for you to grow.

Five years ago, I stepped outside my comfort zone and made a big cross country move from the West Coast to the East Coast within U.S. Bank Home Mortgage. This detour brought tremendous success and visibility, reinforcing another note of inspiration that I always use from Leon Megginson, “It is not the strongest or the most intelligent who will survive but those who can best manage change.”

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B R E A K O U T O F T H E B U B B L E!

THINK OUTSIDE THE BOX

Author Thomas Disch once shared, “Creativeness is the ability to see relationships where none exists.” This is a good reminder to always be thinking like an entrepreneur.

Being nimble and agile in running the business can benefit you in both traditional and non-traditional environments. I take inspiration from leaders like Sonya Luechauer in the industry, who started as a processor and rose to become CEO of DHI mortgage. She shared, “It is incredibly important to have strong curiosity and take advantage of the everyday blocking and tackling as a learning experience.”

In today’s environment where social distancing is required and both work and school has been pushed to homes across the country, many creative solutions have emerged to socialize, engage, and entertain. We see examples of this every single day. One example is the good old-fashioned scavenger hunt in my neighborhood earlier this year. Instead of kids setting out on foot as they normally would have, families found a creative solution and teamed up to enable kids to participate in a scavenger hunt on wheels using smart phone technology. The kids in the neighborhood enjoyed a healthy and safe social interaction and learned to play and have fun in a whole new way.

In our careers, change is inevitable, and, by thinking ingeniously, we can keep both ourselves and our teams energized while also positioning us steps ahead of competition.

“Throw your hat in the ring when there is a new project. Volunteering to lead a transition during a challenging time demonstrates leadership,” Merkle says. Whether a simple task or something more complex, breaking old thinking patterns, and preparing for market outcomes help you to start small while building.

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NEVER STOP LEARNING

Some of us are visual, auditory, or kinesthetic (hands-on approach) learners, and it is extremely important to never stop learning because it is the superpower of superpowers. Susan Stewart, CEO of SWBC Mortgage and chairman elect of The Mortgage Bankers Association shares, “One has to be a lifelong learner, regardless of age.” And she adds that she draws inspiration from her mother who went back to law school when she was fifty. Most of us are pressed for time where a typical day is packed with back-toback meetings, working on multiple projects, and putting out fires; we just don’t find time to invest in our growth.

Thanks to countless distractions and interruptions challenging our ability to stay focused, our attention spans have gotten increasingly narrower. I experienced this firsthand when I was on my journey to attain the Certified Mortgage Banker (CMB) designation in 2019. In the final weeks of prep leading to the 6-hour CMB written exam, I realized taking power breaks to learn every single day helped me overcome distractions. Learning in short bursts everyday (and on some days at airports and on planes as I travelled for work) helped with retention and was more impactful than the traditional learning approach, which led to a successful CMB certification.

Learning does not necessarily imply an immersion in volumes of encyclopedias.

Look at accomplishing simple tasks that have a lasting impact, such as developing good interpersonal skills or improving your productivity through effective time management.

Another good technique is learning from teaching. The old Latin saying goes “Docendo Discimus – the best way to learn is to teach.” Teaching improves confidence and

B R E A K O U T O F T H E B U B B L E!

communication skills. Continual learning to our brains is like batteries to electronics.

STAY POSITIVELY FOCUSED

Many things happen around us all the time that we cannot control or influence, and we need to refuse to let that consume our lives. Susan Stewart again shares, “During watershed moments, learn to look at the challenge with the right lens and you will notice tons of opportunity.” Positive thinking triggers the release of endorphins, a chemical that plays a big part in making us happy.

We can avoid getting into a slump and break the monotony of a typical workday by making time for an activity we enjoy, a simple intervention that boosts our positive thinking. If you are a morning person like me, perhaps consider having a strong start for the day with a cup of coffee or making your own breakfast or going for a run. Feel good emotions enhance our confidence and makes us feel more optimistic. Another way to help relieve stress would be to put on favorite music or plan an activity to look forward to after work, like streaming a show or catching a game.

We need to learn to reinforce positivity and give ourselves a pat on the back.

PUTTING IT ALL TOGETHER

Now that we have determined the aspects we can control, how do we go about adopting it to help with career development?

Truthfully, will-power only takes us so far.

To stay committed to the many vital tasks toward growth and development, we need a guide and a trusted advisor. Career development planning starts with finding a good mentor. Mentoring is incredibly powerful, and, with some effort, it can be a highly effective process to achieve growth and development. Mentors, apart from serving as a sounding board, hold mentees accountable

to commitments. “Strong mentors provide the difficult feedback which is vital for personal growth,” Luechauer says. It is easy to get distracted and mentors push the focus back on track and guide mentees to get back in the saddle.

Another excellent approach is to create a personal board comprised of an interesting, diverse group of individuals that are vested in our growth. A personal board, as an example, should include a well-respected industry leader, a key individual within the organization with a breadth of knowledge across many functions, and a person that anybody and everybody knows in the line of work and can help grow your network.

Drawing from the experiences and expertise of the board helps navigate challenges and changes in our careers.

“We need to be professionally deliberate and express a desire to grow in an organization,” says Luechauer. So, what are we waiting for? Let us take charge of what we CAN control in our careers, and there is nothing stopping us from scaling new heights.

Never forget how far we have come and if we keep at it, the best is yet to come!

Rupa Nada, CMB is a Vice President of Correspondent lending at U.S. Bank Home Mortgage. She has been in the mortgage industry for 19 years and has held multiple roles spanning various facets of the industry. Always ready for a challenge, she successfully transitioned from secondary marketing to loan fulfillment to third-party lending sales leadership. As a board member of the Women of Metro NY Business Resource Group (BRG), she is a champion for empowering women. At the BRG, she has chaired community engagement initiatives guiding women to re-enter the workforce and offering career counselling and mentorship to young adults. She is actively engaged in committees within the Mortgage Bankers Association and serves as an instructor to help mortgage professionals.

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MOVERS

s r e k & Sha

Nicole Booth, former Quicken Executive, joins Notarize

Planet Home Lending hires Desiree Kirkland as VP of Closing and Maureen Morais as Controller

Former Quicken Loans executive Nicole Booth has joined Remote Online Notarization (RON) pioneer, Notarize as executive vice president of public affairs.

Planet Home Lending, a naThe financial services industry veteran will lead state and federal tional lender and servicer, has government affairs and advocacy efforts as the Desiree Kirkland as VP of National mortgage industry strives to promote legislaClosing and Maureen Morais as tion that will help fully automate loan closing Controller in the servicing operain all states. tions division.

Booth has been working with state and Kirkland is an industry veteran federal government officials, trade associawho brings more than two decades tions and advocacy groups for more than of experience to her new VP role, but 15 years. A priceless experience as she closing is her passion. She has built oversees the company’s public affairs and led numerous closing teams. Most activities. Her expertise and focus is on recently, she grew a closing team of nine the mortgage industry’s transformation to more than 280 people on staff. Her through technology that enables RON expertise includes retail and direct sales, processing, transactions and eClosing, as well as wholesale, loan underwriting and quality assurance. She the use of blockchain, or data privacy and security issues. also is a passionate coach who has trained, developed, “At Notarize, we are transforming managed and led a closing team. industries stuck in paper due to techPrior to joining Planet Home, Morais spent nine years at nology and regulatory barriers,” said Capital One (f.k.a. Beech Street Capital, LLC), and had acPat Kinsel, CEO of Notarize. “We are counting roles at Farmer Mac and PricewaterhouseCoopers. building products and driving legAs servicing division controller at Planet Home, she will focus islative change to move industries on expanding process automation to increase cost efficienforward and I’m happy to have cies, reduce risk across Planet’s owned mortgage servicing Nicole on board to accelerate our rights and private client portfolio assets managed by Planet efforts working with government Management Group. and trade associations to pull the future closer.”

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FormFree Taps Jocelyn Crum Brooks, AMP, as National Account Manager

William Raveis Mortgage Announces Industry Pioneer Melissa Cohn Joins AwardWinning Company

William Raveis Mortgage (WRM), one of the nation’s top full-service mortgage lenders FormFree® has apand brokers, announces that Melissa Cohn, a pioneer in pointed Jocelyn Crum Brooks, AMP, as the mortgage industry for national account manager. Brooks will the past 35 years, has joined the awardleverage her two decades’ experience winning team. Cohn will be based in the supporting lender relationships with the New York City office and in East HampFederal Home Loan Mortgage Corporation ton, N.Y. and is licensed in Conn., Fla., (Freddie Mac) to build new customer relationships and Mass., N.J., and N.Y. strengthen existing customer engagement with Form“We are incredibly proud to welcome Free’s flagship products, AccountChek® and AccountChek an industry superstar like Melissa Plus™. to our business family,” says Ryan “Jocelyn has earned her reputation as a valued partner Raveis, the president of WRM and in guiding lenders through complex pricing, credit perforco-president of William Raveis Inc., mance and technology adoption requirements to achieve the parent company. “William Raveis outstanding business results,” said FormFree Founder and Mortgage is constantly looking for CEO Brent Chandler. “She will play an important role in our the best talent to support our clients and Melissa is truly that. She mission of empowering lenders to collect and verify borrower epitomizes everything we strive financial DNA — including asset, employment and income for and provides the highest level data — electronically in just minutes.” of first-class service.”

Prior to joining FormFree, Brooks spent 19 years in various Cohn launched her own sucaccount-facing positions at government sponsored entity (GSE) cessful mortgage company, The Freddie Mac, where she led cross-divisional teams to support Manhattan Mortgage Company, credit unions’, banks’ and independent mortgage lenders’ sucin 1985. As one of the first incessful participation in Freddie Mac programs. Brooks’ work at dependent mortgage brokers, Freddie Mac earned her numerous awards including the TechnolCohn exponentially grew her ogy Integration Award for driving lender adoption of technology business into the #1 residentools, the Chairman’s Award for leadership in client relationship tial mortgage broker on the management and the Outstanding Business Results Award for East Coast with more than performance excellence. Brooks has earned the Mortgage Bankers $5 billion in annual volume Association’s Accredited Mortgage Professional (AMP) designation. and one of the nation’s top residential originators.

“I’ve dedicated my career to helping drive lender success through Cohn is currently ranked education and technology adoption,” said Brooks. “I’m thrilled to number 41 nationwide on join FormFree, where I can offer lenders the industry’s most trusted the National Mortgage and forward-thinking solutions for determining a borrowers’ ability to News Top Producers list. repay.”

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#LE ADINGWOMEN

Christy Soukhamneut Christy Soukhamneut is a 20+ year veteran of the mortgage industry who is currently senior vice president, chief of staff and director of mortgage strategic initiatives at Flagstar Bank. In this role, she is responsible for mapping future initiatives that will support Flagstar’s leadership in the mortgage industry. Prior to Flagstar, she was senior vice president, national sales performance, at Certainty Loans/Stearns, and earlier in her career, vice president, sales strategy and execution, at Bank of America. She currently serves or has served on a variety 42

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of committees for the Home Builders Association, the Board of Realtors, and the Mortgage Bankers Association. Christy holds a master’s degree and bachelor’s degree in business administration.

#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 September issue?

Christy Soukhamneut: I think of pioneers and trailblazers. Women who have stepped up in meetings, at events—various forums like trade associations—where they were the only woman in the crowd. I think of women who look out for the well-being, advancement, and benefit of those who will follow in their path.

I think about strong women who have been in leadership positions because I wouldn’t be here today without them. I also think about the accomplishments women in business have made today, as well as how far we can still go.

MWM: Provide a brief history on what has brought you to where you are today, at Flagstar as the chief of staff/director of mortgage strategic initiatives.

CS: Some people create detailed roadmaps for their careers; others, like me, are just lucky. We end up with rewarding careers simply by putting one foot in front of the other, not knowing exactly where the journey will take us. I started my lending career by opening a mortgage company with my father in 1994. At the time, there were great companies out there that were willing to take a chance and partnered with us. Early on, we started brokering loans to Flagstar Bank. Today, I have the opportunity to help brokers and other lenders, along with our retail team, achieve success.

Mentors have helped me along the way, starting with my dad and my Uncle Bobby, who stood beside me from day one and taught me to deliver what you say you will deliver and that keeping your word means everything. From them I also learned what it means to truly take care of people who believe in your dream enough to become a part of your team. And I was fortunate to have several bosses who taught me what loyalty looks like and how to act with integrity even when those around you are behaving differently.

Never stop learning has always been my mantra.

From finishing my master’s degree despite hearing from my leadership that I was wasting my time, to actively seeking professional development courses through the MBA, to taking unrelated classes that rounded out my professional skills, to reading each day, I believe you need to make the sacrifices to keep learning and growing your skill set. For example, ask to be involved in projects that interest you. One of my biggest opportunities came after the top of the house told me no, but I persisted, kept asking, and got the project.

Be proud of your professional experiences, but don’t forget to give yourself credit for all the hard work you put in: the late nights, the personal sacrifices, the extra time invested in learning about your business.

MWM: What is your vision for female mortgage executives, and what advice would you give them as they work to achieve their goals?

CS: My advice is to always be yourself and take your seat at the table. Don’t dumb yourself down to be liked, don’t be silent just to get ahead, and don’t be afraid to own your success. At one point

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#LE ADINGWOMEN

in my career, another female executive told me to “dumb it down.” She meant well, but it was poor advice. While it is important to communicate clearly without a lot of jargon and acronyms, the curse of our industry, we shouldn’t assume others either aren’t willing or able to hear and understand us.

My vision is for there to be more women mortgage executives with a mission to truly raise the bar of professionalism within the industry. This isn’t about how many of us have broken the glass ceiling. It’s about doing things the right way, doing them really well and being the rising tide that lifts all boats, including those with men in them.

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

CS: Turning possibility into reality and helping others see and achieve more in themselves than they ever thought possible.

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

CS: I asked a few people about this because it is what they say and not what I say that matters.

Here is what I heard:

“Biggest one in my mind is your heart: you are passionate and kind to others, you listen with an open mind, and you seek understanding. You prop others up before yourself. You are humble.”

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“Your passion for affordable housing and fair lending that has spanned your entire career.”

“Your steadfast commitment to the belief that anyone can buy a home and your ability to help anyone do just that, from the single mother needing help understanding the process and finding a loan that would meet her financial needs, to the veteran who was buying a home from overseas while fighting a war (do you remember the number of times you took calls in the middle of the night so that you could help a veteran buy a home for his family stateside?), to the elderly couple buying their first home after retirement.”

“How you never compromised on seeing the best in all people. Especially me. You never allowed me to give up on myself or settle for less than my best.”

MWM: What is your favorite inspirational quote?

CS: The quote that has impacted me most is “I am not who I think I am. I am not who you think I am. I am who I think you think I am.” It’s such a powerful reminder of how much power we give to what we believe other people believe about us without ever knowing the truth. The stories we tell ourselves will shape who we are and what we are able to accomplish. Don’t let the itty-bitty negativity committee take up residence in your head.

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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 L AU R A E S CO BA R

Whether you are just entering your career, or you are a seasoned professional, here’s a secret I want to share with you: The road to the C-Suite has been paved for you, and now it is up to you to take it. In 2019, women’s share of board seats in Fortune 500 companies rose to 27 percent; and, in 2012, that number was less than 10 percent. Now it is up to you to take us to 50 percent and beyond because that seat in the boardroom already has your name on it if you are willing to take it. But it will take great effort, humility, and, above all else, authenticity.

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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

Now is the time to step on the gas pedal on the road to the boardroom, and here’s why.

We are in an environment that recognizes the importance of diversity and representation at the boardroom level more than ever. The fact is that more women in leadership is not just good for society, it's good for business. According to a recent study by global consultancy firm McKinsey & Co., board diversity yields better financial performance partly because female directors tend to be less conformist and more likely to express our independent views.

WHAT DOES AUTHENTICITY MEAN FOR ME?

Expressing our unique views and being our authentic selves is our secret weapon.

Being true to my authentic self is where my greatest value lies, and I am positive this is where your greatest power lies as well.

Authenticity means receiving an important call at 7 PM and when asked to jump on the webcast, saying that you can only do audio because you are getting your legs waxed. Authenticity means not making apologies for having your toddler make a cameo in your Zoom call. Authenticity means sharing your culture with your colleagues and creating a space where we are all comfortable in our own skin.

I am a Cuban American woman and at 3 PM every day it is “cafecito” or Cuban coffee time at our office. This is my culture and I love sharing it with my Eagle Family.

Authenticity also means not assimilating to a male-dominated work culture or suppressing your interest. Talk about the things that interest you as a woman. In the beginning of my career, I used to obsessively listen to sports radio, not because I loved sports but because I thought it would make me more relatable.

I don't do that anymore. Instead, I talk about

what interests me: family, food, travel, and community service. Surprisingly, I’ve been able to build a stronger bond with my male peers by sharing real things about my life and talking about what truly interests me.

MARRYING CONTRIBUTION WITH PASSION AND HUMILITY

Sheryl Sandberg says, “it is the ultimate luxury to combine passion and contribution.

It’s also a very clear path to happiness.” You contribute by putting your head down and doing the work with excellence, but you excel by doing so with a passionate heart. You see passion is contagious. Contributing with passion will motivate others to work with you. Combining passion with humility and gratitude will

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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

further motivate your peers to co-create with you.

A simple “thank you” goes a long way. At Eagle Home Mortgage, we’ve transformed into a digitalfirst organization to meet the rapidly evolving needs of our consumers. This evolution couldn’t be possible without a culture of passion and gratitude, one that inspired associates to become “digital champions” and adopt new programs with incredible speed and agility.

GETTING STARTED

I challenge everyone reading this to take action in mapping your path to the C-Suite. What opportunities exist for greater leadership within your organization? Raise your hand, share your voice, and get something done. You may also want to look externally and perhaps become involved with a local charity or seek a leadership role within an organization in which you are already active. I think community service is a great outlet and training ground for corporate leader-

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ship. You may also want to explore opportunities for greater leadership within professional organizations or with your technology partners.

Whatever approach you decide to take, just get started.

Laura Escobar is president of Eagle Home Mortgage, the mortgage lending subsidiary of Lennar Corporation, the nation’s largest homebuilder. She leads a team of more than 1,100 associates in 54 locations across 26 states. A 30-year mortgage industry veteran, Laura has held leadership positions with both bank-owned and independent mortgage companies overseeing all aspects of mortgage banking. Her approach to nurturing talent and accelerating innovation, combined with her ground-level experience in every facet of mortgage lending has enabled her to grow Eagle Home Mortgage into a financial services leader.

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

C AUSE OF T HE MON T H

Keep a Breast Foundation https://www.keep-a-breast.org/

W H AT IT I S As a young designer in the skateboard industry in the 90s, KAB Founder Shaney jo Darden fell in love with skating's creative, Do It Yourself (D.I.Y.) culture. Skateboarding was more of a creative scene than an industry, and Shaney jo quickly realized that it was the artists, designers, and community members that drove its evolution. She saw a natural breeding ground for awareness and communication. In 1998, Modart, Shaney jo and friend Mona Mukherjea-Gehrig organized a series of homegrown art and fashion events showcasing the work of friends, coworkers and local kids from the action sports scene.

The response was phenomenal. It brought a global community of well-known street artists, fine artists, and graphic designers together for a series of well-attended gallery events. These efforts soon began to attract attention far beyond Southern California. In 1999, Shaney jo and Mona learned that young friend and artist, Margaret Kilgallen had been diagnosed with breast cancer. They knew they wanted to raise awareness in support of their friend, but nothing resonated with the creative energy of their community. They decided to stick with Modart's model of bringing people together through progressive art.

Soon after, Keep A Breast was born. It was to be a unique art concept that could capture and communicate the physical and emotional challenges of breast cancer. The result was a series of customized breast casts. In 2000, the first breast casts were officially showcased in an exhibition called “Keep A Breast.” It featured casts of pro-female snowboarders, painted by artists such as Shepard Fairey and Ed Templeton. This signaled a shift toward an arts-oriented breast cancer awareness organization with a new mantra: Art. Education. Awareness. Action.

For the next few years, Keep A Breast shows were organized across the U.S. and throughout Europe, with growing participation by celebrity “castees” and artists. The first breast casts were auctioned in 2002, with proceeds directed to breast cancer charities. The success of these art benefits, highlighted by artists emerging from the skateboarding, music and action sports scenes, put breast cancer awareness on the map for a younger generation.

VISION

“Our mission is to empower young people around the world with breast health education and support.”

WH AT TH E Y DO Through her involvement in breast cancer outreach, Shaney jo soon realized that no one was truly reaching young people with breast cancer education and support. Existing organizations were not operating at the cultural level of teens and twenty-somethings. She developed a series of educational programs that attempted to reach youth “in their comfort zones.”

This was the origin of a series of unique, interactive teaching efforts such as the Traveling Education Booth and Check Yourself! breast self-check cards. Today, Keep A Breast demonstrates a new nonprofit model. It is one that assumes that today's young people are articulate, critical and ready to establish their identities through meaningful action. They are ready to be engaged and educated. Keep A Breast Foundation (KAB) communities are defined by the contributions of young people.

WH AT YOU C A N DO • Donate • Attend one of the many live and virtual events held across the U.S. to raise awareness and funds to beat breast cancer • Become involved in the “I Love Boobies!” campaign by purchasing their signature bracelets and sharing the message of breast cancer awareness • Download the “Check Yourself” app, and share the message of the importance of monthly breast self-checks.

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ASK THE E XPERTS

Let’s dive into a few stories from some of the very best in the industry!

SARAH GIROUX Underwriter Embrace Home Loans Inc.

Focus on Underwriters After holding almost every position there is on the origination side of the business, from processor to originator to underwriter to funder, closer, and shipper, I can honestly say that being an underwriter was one of the most challenging. In a single day (or hour), you swing from being a hero to a villain and back to a hero again.

The pressure is intense, and the appreciation levels are not always commensurate to the workload. Those who have been these unsung heroes themselves understand the feeling all too well, and the very best originators and leaders in the industry know that our superheroes in underwriting play a crucial role which deserves the utmost respect.

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Young couple with a baby on the way, ailing parents that needed to be cared for…. In their dreams of homeownership and needs of their growing family, they had chosen a house that time seem to have forgotten.

Warned by these eager borrowers that they had found the perfect “fixer upper,” we still had no idea what we were in for. No working bathrooms, kitchen in squalor, and birds’ nests in nearly all the windows, among countless other problems. Most shocking was the appraiser’s photos of the attic revealing the current occupants peeking out from the pink insulation. A very large sleeping raccoon and curious faces of her three wide eyed babies! It became clear there was only one way to go, renovation loan. The transformation was nothing short of a miracle; problems were remedied and wildlife humanely removed. With a little more patience and thinking outside the box, we were able to take this house from a sad neglected space to a real home filled with new life and possibility. It’s still a fond reminder for me to always try and see beyond what things are, and instead see what they could be.

Sorry critters!

ASK THE E XPERTS

KILI CONNOLLY

Senior Jumbo Underwriter Guaranteed Rate I’ve been an underwriter for around 20 years and, as you can imagine, I have experienced the gamut of scenarios. One that stands out to me is a purchase transaction where an elderly couple had recently passed away and their family home of five generations was going to be put up for sale. But the grandchildren really wanted to keep the home in the family due to the decades of traditions and memories it held. It was a very difficult loan for various reasons, but we were ultimately able to find a program that suited their needs. It took team effort and quite a bit of time, but ultimately we did get the loan closed for them. While I genuinely enjoy what I do, it’s situations like that that make the stressful days all worthwhile.

SHARON PROPST Senior Underwriter Eagle Home Mortgage

We had a loan with two borrowers purchasing their first home. We were four days away from closing when COVID-19 hit! Borrower 2 was furloughed, and we could no longer use her income for qualifying; the borrowers were devastated, to say the least.

The lease was up on their apartment and they had movers already paid for and scheduled. They would have nowhere to live if we could not get their loan approved. Underwriting to the rescue! Working with the processor and loan officer, we brainstormed, and the loan was quickly restructured from a conventional loan to an FHA loan. The borrowers paid off some debt and we were able to re-approve the loan and make the initial closing date. Upon hearing the news, the borrowers were elated that they were still able to purchase their dream home.

SUZANNE SAMIDE Underwriting Manager Sierra Pacific Mortgage

My underwriting philosophy is “no warm and fluffy conditions only warm fluffy communication!!” I started in the mortgage business as a loan officer, and I bring that background and understanding to how I manage our underwriting teams. Our amazing sales partners had to fight to get that deal in the door and the last thing they need is to fight their underwriting department to close it! Not all loans qualify the way they were submitted, and our specialty is finding a way to make that loan work one way or another. We truly foster a teamwork environment and pride ourselves on finding out of the box solutions. At the end of the day, it is about our borrowers, clients, and referral partners, and making the dream of homeownership come true!

Cheers to these wonderful front-line heroes, making dreams come true on the daily. Be sure to take a moment to say a heartfelt THANK YOU to an underwriter today.

And to leave you with not only your heart warmed by these stories, but also a smile on your face, enjoy this classic industry joke: A man in a hot air balloon realized he was lost.

He reduced altitude and spotted a woman below.

He descended a bit more and shouted, "Excuse me, can you help me?

I promised a friend I would meet him an hour ago, but I don´t know where I am."

The woman below replied, "You are in a hot air balloon hovering approximately 30 feet above the ground. You are between 40 and 41 degrees north latitude and between 59 and 60 degrees west longitude."

"You must be an underwriter," said the balloonist.

"I am," replied the woman. "How did you know?"

"Well," answered the balloonist, "everything you told me is technically correct, but I have no idea what to make of your information, and the fact is I am still lost. Frankly, you´ve not been much help so far."

The woman below responded, "You must be an MLO.” "I am," replied the balloonist, "but how did you know?"

"Well," said the woman, "you don´t know where you are or where you are going. You have made a promise which you cannot keep and expect someone else to fix it for you.

The fact is you are in exactly the same position you were in before we met, but now, somehow, it´s my fault!"

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

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The C-Suite

Brooke Anderson Tompkins President 1st Priority Mortgage

What do you find most rewarding about your job?

My first response is helping families cross the threshold to home, and we capitalize HOME. Years ago, we developed what we referred to as guideposts. One of those guideposts was that every file is a family. Family in this context is a borrower’s family, the real estate agent’s family or going deeper to our internal side of sales and operations family. It's about working together. We’ve determined that this mindset has fostered a cultural skillset to create raving fans. Ultimately whatever combination of families we’re speaking to, our collective families build communities and we’re really proud to be a part of that. It helps me do what I do every day when I keep it in that context.

It's never been more important than now.

6 a.m.

What is the first thing you do in the morning?

Level-set mentally for the day ahead. I run through my calendar and affirm the most important things that I’m going to get done that day.

What is your mantra?

“We never give up. We always find a way.”

What is on your desk?

Stacks of work! It’s not all paper, but I do still use paper, admittedly.

There is a pandemic plan, an LOS conversion, and we are in the midst of a corporate relocation. Fortunately, I also have many reports of history-setting numbers!

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What do you think is the biggest challenge for the mortgage banking industry currently in pandemic times?

We’ve navigated a deluge of change over the past many years. With the added layers of the pandemic uncertainties, we’re all having to continue to adjust, whether it be as individuals, organizations, or as a collective industry, to rise to a whole new level. It’s requiring us to think differently and move differently to excel despite many reasons to fail. I’ve been fortunate to be included over the last many months in some amazing conversations with leaders committed to navigating what lies ahead. It's what we have done the past many years, depending on which piece you want reference. Is it operations, technology, or regulatory? Change is constant. With the added elements of a pandemic, we can choose to come together, assess the realities and embrace the roller coaster. We went from catastrophe in certain respects this spring to history-breaking volumes 90 days later.

It’s been a wild ride.

What time do you get up?

I’ve been fortunate to be included over the last many months in some amazing conversations with leaders committed to navigating what lies ahead.

What is your best habit?

Reflection.

What is the last thing you do at night?

Two things. Hug my family and review the day. I walk through what did I do right, what did I do wrong, and what can I do differently tomorrow?

What time do you go to bed?

Usually 11 p.m.

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MORTGAGE MOMS

MORTGAGE MOMS

BY A S H LE Y G R AVA N O

ARE YOU WONDERING WHAT IT MEANS WHEN A LOAN OR A POLICY IS “IN UNDERWRITING”?

The official definition is: 1. Sign and accept liability under (an insurance policy), thus guaranteeing payment in case loss or damage occurs.

• Accept (a liability or risk) under an insurance policy.

2. (of a bank or other financial institution) pledge to buy all the unsold shares in (an issue of new securities).

• Undertake to finance or otherwise support or guarantee (something) In layman’s terms, you are accepting the RISK. A lender, broker, bank and even a title company must weigh out the RISK on a loan or policy to protect the company. Pretty easy to understand. They follow checklists and guidelines. They collect and validate information and documents before they say those magic words “CLEAR TO CLOSE.” If the RISK is minimal, then the REWARD will be profitable. RISK vs. REWARD. Are you wondering how this ties into being a Mortgage Mom? The answer is very simple. We “underwrite” the lives of our kids and even other family members on a day-to-day basis. Is letting my 13-year-old ride his bike far from home too risky? Will the reward outweigh that risk? I go over the checklist in my head and with him when I make the decision to say yes or no. It’s a process for sure! The STRUGGLE IS REAL my friends. But at some point, you have to take that risk.

I have asked these Industry Rock Stars / Moms a 2-part question this month.

1. How does loan volume affect your underwriting process?

2. We know making decisions on behalf of our children no matter their age is stressful. How do you make underwriting decisions at home? Are you more laxed or fairly firm, and what advice can you give to other Moms about how to come to a “Clear to Close” in a less stressful way?

LAURA BRANDAO President American Financial Resources, Inc. 1. The blessing of record volumes has challenged all of us to find ways to organize and streamline our processes and procedures. As a specialty wholesale lender, we had a decision to make: do we continue to do the high touch multi-step programs or do we pivot to handle additional capacity of the traditional agency loan programs? When the influx of volume first came in March, we decided to suspend our construction and renovation programs. But after a few months of adding staff and additional technological systems, we were able to bring back all of our specialty programs because we knew that the market and our clients needed to be able to serve their families and referral partners.

2. I had the joy of raising two boys while growing a mortgage company. My style of parenting mirrors my management philosophy. Treat everyone with respect, explain what you expect and support, and love and nurture them until they become the best versions of themselves. I am now the proud Mom of two successful and well established men who have shared with me that, although I wasn’t the best cook or the class Mom, I was always there when it was important, and they learned that hard work and taking care of your team and your clients can result in a work family. They couldn’t be prouder of the life we have created.

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MORTGAGE MOMS

MARY O’DONNEL CEO and president Westcor Land Title Insurance Company

MIKKIE MIKHAEL Manager-broker of direct underwriting PHH Mortgage

1. High volume for me running a title insurance underwriter involves trying to support staff and agents that are highly stressed in an uptick environment. I find that a greater concentration on providing positive outlets for stress become critical in this environment, especially given COVID. As an example, small incentives that benefit the staff and their families can have a huge impact. We, for instance, sent everyone a coupon for a free movie and a popcorn package to their homes. Huge hit. On the underwriting side, being as responsive as possible to the agents closing the loans is essential. Helping agents provide closing services and signing services safely during COVID is always a challenge but one I believe the agents have risen to. COVID and high volumes have accelerated the use of technology in underwriting. For instance, we have seen a substantial increase in use of our X1 decisioning engine making clear to close faster. Embracing remote online notarization to increase turn time has also been an acceleration during this time period. The embracing of technology from the agent and lender and the underwriting of those technologies has been important as well as consumer acceptance.

1. In times of high volume, it is important to be strategic about the prioritization of loans. We create targeted reporting to help our underwriters focus on loans that are “ready” to be reviewed and not simply the oldest task. We leverage detailed reporting in an effort to move loans to final approval and ultimately to closing. First in, first out queues don’t always work with high volume spikes. It is important to reinforce a proactive approach to working through the pipeline.

That means communication between all parties in the fulfillment process becomes heightened. Simply picking up the phone and talking through what is still needed on a loan makes all the difference.

2. As a stepmom of a daughter with a young son, being there as a support for her stressful life is always important. I get to be the “spoiling” Grand Mum, as he calls me, which is probably a challenge for her.

Running a business with several working Moms with small children, I generally encourage them to focus on what’s important during the years as the kids are growing. Work will be there and the time with the kids will fly by; so, don’t sweat the small stuff. Let work be a counterbalance, but know that life with the kids flies by. Balancing kids, work, play dates, camps etc. can be overwhelming. Having work can be a respite as well as an additional stress. Make sure you don’t forget to find “you” time.

DANI HERNANDEZ Senior underwriter Envoy Mortgage

Last thing. Both home and work, I always tell everyone in my company: be yourself. Be authentic. Be who you are. Bring your great strength as a Mom to your work.

2. It is interesting how often I shift from a strict Mom to a laid-back Mom throughout the day. It will definitely depend on the topic. I am hard on them when it comes to their attitude and effort. If they are trying their best and they are respectful and coachable, then I am proud even when they are not always successful.

Raising teens is a challenge, so I definitely pick and choose my battles. We do try to come up with a compromise when we are not seeing eye to eye. I think their negotiations skills need a little work, so it is hard to keep a straight face sometimes and they will often say “Mom, this isn’t funny, I am serious this time.”

1. I think that it is important not to let the volume affect your underwriting process. The guidelines do not change because the volume increases, and your review should not either.

Focus on the loan in front of you instead of focusing on how many others are in your que. If you don’t make it to the end of the list, it’s okay. The loans will be there tomorrow.

2. My daughter turned 18 this summer, and I think she would describe my parenting style as unconventional. I think the easiest way to get to a clear to close on any issue is to be honest with your kids. Regardless of their age, they want to understand why (they are like loan officers in this way). If you can be honest and explain things in a way that is easy for them to understand, not only do you get a resolution, but you teach your kids valuable life lessons.

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HOLISTIC WELLNESS

CULTIVATING

e n i l p i c s i D

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

The last four months of the – COVID-19 quarantine have most likely provided several opportunities to see where you are thriving, maybe just surviving, or possibly even failing. It is clear that across social media, women have been beating themselves up about their perceived inadequacies with balance during this time, but before you compare your lives to others’ and commiserate, maybe see this time as the perfect opportunity to check in with yourself and commit to succeeding amidst the chaos.

This opportunity will look different for everyone. Right now is an unprecedented time in the mortgage industry where we are busier than ever. I have personally felt guilty about not working enough to take advantage of the market, and, at the same time, working too much when my kids are home, feeling burnt out, feeding my kids convenience foods, blowing off workouts to sleep, and skipping days of homeschooling altogether because work had to come first. I thought I was alone, but it turns out 56

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that over 80 percent of women polled have felt overwhelmed and at times “inadequate” during this pandemic.

So how do we change that?

First, you have to determine what the weakest link is. What is making you feel the worst or most guilty? Is this something you can change right now? If you do have control over it, then that is your goal.

Are you disappointed in yourself for not creating work boundaries or gaining the quarantine 15? Have you let networking go because it looks different than it did previously? You have to identify the problem in order to create the solution.

Below are seven steps to cultivate discipline and reach your goals.

BECOME MORE PRESENT. It is too easy to get caught up in our day and get pulled into the direction that others need us to go.

We mindlessly and habitually do things every day that either create success or take away from it. Write out what your day looks like and where you can make changes to accomplish your goal. Kids get in the way of your home workouts? Wake up an hour earlier and do it before they wake up. Don’t have time to make/eat healthy lunches during the work week? Meal prep your lunch for the week on Sunday while you’re already cooking lunch or dinner. Need to find a new way to network? Create a Facebook group or set up a Zoom call and make it happen.

HOLISTIC WELLNESS

HAVE A STRONG “WHY.” Why is this goal important to you? Mine didn’t come all as one step. I was living in chaos for all of the above-mentioned reasons. The “why” seemed so complex, but was still so important.

The bad food was making me feel physically tired, so I was blowing off my workouts, which made me feel guilty. Because I didn’t have boundaries for work, I was blowing my kids off, which made me feel guilty. I wasn’t matching the volume of some of my peers, so I felt guilty. My “why” was the guilt. It comes from whatever you are feeling and will look different for everyone.

SMALL STEPS. Repeated success breeds success.

Creating positive habits is the key to accomplishing your goals. Sometimes when you aren’t making big changes, it is easy to feel that nothing is happening, but a little effort every day leads to change down the road. Simple examples of little daily things that make a big difference include drinking more water, getting enough sleep, working out (five minutes is better than 0 minutes), or 10 minutes of dedicated social media marketing might equal a new loan. It all adds up!

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HOLISTIC WELLNESS

LEAN INTO DISCOMFORT. This one usually scares people, after all it has the word discomfort in it, but being comfortable usually doesn’t get you where you want to go.

The best things in life come from doing hard things! A baby after pregnancy and birth, a wonderful meal after hours of shopping and cooking, a promotion or fat paycheck after working really hard! All wonderful things that require a bit of discomfort. Do you really want change? Then you have to change.

LEARN FROM FAILURES. Some people are deathly afraid of failing. It sucks and of course you don’t want to fail, but how else do you learn? Every mistake we make, no matter how little, teaches us a lesson. It’s the people that don’t get scared and stop trying, and keep pushing past multiple failures and mistakes that make it to the top.

HOLD YOURSELF ACCOUNTABLE. Do you have a partner or a coach? If not, get one! If you do, make sure you are utilizing them. Access to people looks different because of the coronavirus, but you do still have the ability to Zoom or even just texting to check in, unload your day, or even mastermind. Lists are another amazing way to hold yourself accountable. How good does it feel to check things off the list? Talk about a little boost of positivity!

KEEP GOING. Consistency is the key to all of it. If you don’t know who Rachel Hollis is, look her up. She wrote an incredible book called Girl, Stop Apologizing where she discusses what is called “5 to Thrive” which is a daily checklist with the same five goals every day. Drink your body weight in ounces of water, wake up one hour earlier,

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give up one item of food for 30 days, 30 minutes of physical activity, and daily gratitude practice. When you repeatedly accomplish your goals no matter how small, every single day, your mind programs itself to be more positive and prouder. How can you not be proud when you accomplish something every day that is important to you and your success?

One of my favorite quotes is “no matter how slow you go, you are still lapping everybody on the couch!” This applies to every aspect of life. Change takes time, but it will take even more time if you don’t even start.

It’s the small habits that set you apart and change your life. How you spend your time, how you talk to yourself, what you read, who you share your energy with …

You are in control of more than you think!

On a final note, I want to stress the importance of allowing yourself a little bit of grace. Unless you are outright trying to sabotage your life, most of the time the key to success or reaching your goals is a little bit of organization and a lot of tenacity and purpose. We are all trying our best, and, if you’re not, then hopefully these seven steps help you figure out what your best looks like.

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

BOOK OF THE MONTH

BOOK OF T HE MON T H THE CONFIDENCE CODE: The Science and Art of Self-Assurance What Women Should Know BY: K AT T Y K AY A N D C L A I R E S H I PM A N

Confidence. We know it when we see it or think we do. And we want it for ourselves. The authors of the New York Times bestseller Womenomics deconstruct this essential, elusive, and misunderstood quality and offer a blueprint to bring more of it into our lives.

Does confidence come from our genes or can we learn it? Is it best demonstrated by bravado or is there another way to be confident? Is confidence more critical for success than competence? Why do so many women, even the most successful, seem to struggle with feelings of self-doubt?

In The Confidence Code, journalists Shipman and Kay travel to the frontiers of neuroscience on a hunt for the confidence gene and reveal surprising new research on its roots in our brains. Their investigation leads them to do their own genetic testing, with unexpected results. They visit the world’s leading psychologists who explain how we can all choose to become more confident simply by taking action and courting risk, and how those actions change our physical wiring. They interview women leaders from the worlds of politics, sports, the military and the arts to learn how they have tapped into this elemental resource. They examine how a lack of confidence impacts our leadership, success, and fulfillment.

Inspiring, insightful, and persuasive, The Confidence Code shows that by acting on our best instincts and by daring to be authentic, women can feel the transformative power of a life with confidence.

MORTGAGE WOMEN MAGAZINE • SEPTEMBER/OCTOBER 2020

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