Vol 6 Issue 4 by Women in the Housing & Real Estate Ecosystem

Women’s Collaboration for the Future VOL. 6 / ISSUE 4

sheCENTER(FOLD)

Edie Fraser Page 38

Addressing the Concerns of

American Families Page 17

m.power.ing you:

The Gender Gap:

MBA’s Summit for Women in Real Estate Finance

Women as

Page 10

Mortgage Consumers Page 4

The Absence of

Women’s

in the Workplace

in Real Estate:

Gender Diversity Page 8

4th Annual NAWRB

Nexus Conference:

Women’s Collaboration for the Future Page 22

Advancement An Interview with Sara Sutachan Page 54

Life of a

Female Veteran:

U.S. Army Combat Veteran Erica Courtney (Part 1 of 6) Page 12

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“In the last 200 years, women’s voice and role in society has evolved quite substantially...”

The Gender Gap: Women as Mortgage Consumers

In the last 200 years, women’s voice and role in society has

evolved quite substantially in the United States and around the world. The mortgage industry is no exception. As firsttime homebuyers, women face patterns of discrimination. These discriminatory lending patterns, in violation of many regulations including those promulgated by the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA), limit women from becoming homeowners and result in fair lending violations, regulatory actions and litigation against lenders. As regulatory requirements in the mortgage industry have tightened, lenders are taking note that discrimination is having an adverse effect on the mortgage industry and our economy as a whole. In some cases, programs are being established to target specific categories of women in the market that are faced with discriminatory obstacles. Yet, there is much more that needs to be done.

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General Patterns of Discrimination Towards Women

Woman are largely discriminated against for what they are, their marital or physical status and their ethnicity—that is for being single, pregnant and/or being non-white. Lenders tend to look at women who are divorced or single with dependents as too risky. Discrimination in the lending process is often rooted by the outside influence of discrimination of women in the workplace. The pay inequality of women in the workplace makes it more difficult for women to build a strong credit profile, which ultimately makes it difficult to secure favorable loan terms or obtain mortgage loan approval. This pay inequality also predisposes women to receiving less favorable loan terms than men. Another hurdle women face is if they are renters or are in a rent-to-own. Single or minority women may be work-

WOMEN MORTGAGE CONSUMERS ing toward the dream of homeownership, but they at times become locked in lease agreements that are paired with grossly inflated rental rates. Increasing or inflated rent costs make it difficult for these women to save enough money to begin the process of purchasing a home. Underwriting judgments tend to happen during mandatory underwrites, brokered transactions or non QM loans.

ary stated on an offer letter results in lower qualification outcomes simply because extra time may have been needed to care for a sick child or extended maternity leave. This results in a false negative when it comes to applying for a specific loan amount and monthly payment despite likely having paid such monthly rental commitments on time.

Patterns of Discrimination Against Pregnant Women In March 2017, the Denver Metro Fair Housing Center Just as fair lending violations occur when a lender discriminates against minorities through unfair lending terms or credit denial, pregnant women are discriminated against in a similar manner. Pregnant women are often denied loans based upon their “short-term disability.” These practices of offering less favorable loan terms or denying loans to pregnant women when compared to similarly situated male borrowers is in direct violation of the FHA. As a result, lenders are currently addressing the repercussions of their illegal underwriting practices.

filed a suit against Bellco Credit Union alleging maternity leave malpractice. The suit alleges that the center had experimental testers call various lenders, including Bellco, and claimed to be on maternity leave to check for discrimination practices. All variables including race, income and credit score were controlled. The results were consistent denial of mortgages for pregnant women, unless the women returned to work within a month. In a prior case involving similar discriminatory action surrounding a Houston-based lender, HUD explicitly stated that pregnancy is not a basis for a loan denial.

Women Are Stable Borrowers

“Pregnant women are often denied loans based upon their ‘short-term disability.’”

There is no basis of reasoning that can justify discrimination by lenders against women. On average, women pay more for a mortgage through higher interest rate terms than male borrowers. Although single women have lower average annual incomes, they are better at paying their mortgages, default less and usually make larger down payments than their male counterparts. According to a study by the Urban Institute published in 2016, for mortgages originated between 2004 and 2007, the default rate for single women was 24.6 percent while the default rate for single men was 25.4 percent. Mortgages originated between 2008 and 2014 followed a similar pattern, which demonstrates that single women default less often on their mortgages than their male counterparts. Therefore, lenders should be embracing women borrowers as a way to increase their bottom lines.

Lenders have also used unsavory business practices on pregnant women to complete the closing process. There have been cases where lenders have coerced pregnant women into finding co-signers so that they qualify for mortgage loans with more favorable loan terms. Historically, when a lender’s underwriting indicated that a woman who was on maternity leave would not have enough income to qualify for the loan, the lender persuaded women to switch the category of time off from maternity leave to vacation time to show increased income. Again, this is lender discretion and any reduction in take-home pay versus base wage sal-

Down payment is another area where women are more attractive borrowers than men. Based on statistics provided in the 2016 Urban Institute Research Report, while single women usually have lower incomes and higher loan size to income ratio, they typically put down a larger down payment than single men. Specifically, as reported in the 19th Annual RBC Homeownership Poll, 22 percent of women saved up to make a larger mortgage down payment, compared to 14 percent of men. Moreover, this report by researchers at the Housing Finance Policy Center of the Urban Institute establishes that single women applying for

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WOMEN MORTGAGE CONSUMERS mortgages typically have higher FICO scores and debt-toincome (DTI) ratios than single men. For instance, this study establishes that from 2011 to 2014, single women had an average FICO score of 741 and a DTI of 36.19, while single men had an average FICO score of 739 and a DTI of 35.94. Women tend to put a larger down payment on a mortgage than men while having similar, if not better, FICO scores and all the while having higher DTIs than men. These qualities indicate that lenders should not ostracize women when attempting to secure a mortgage because they have proven that they are more stable borrowers than men.

In addition to the FHA and ECOA, there are government-sponsored programs to aid first-time homebuyers. The FHA offers the Seller Assistance Program and the Second Mortgage Program to help reduce closing costs and lower down payments. Women using the Second Mortgage Program may also be eligible to receive a loan with no down payment. The Veteran’s Administration (VA) offers mortgage guarantees with benefits for women that qualify.

“This discrimination women are faced with makes it more of a challenge for them to become first-time home buyers.”

This discrimination women are faced with makes it more of a challenge for them to become first-time home buyers. Women are generally denied mortgages, despite their superior payment performance, larger down payment and similar—if not better—credit scores than men. With regulations and programs in place, lenders need to continue taking initiatives to alleviate and end this discrimination. The culture in lending also needs to change the view of women as risky borrowers. Rather, women are bread-winning individuals who are just as strong, capable borrowers as men. Women have to continue to push society in a direction of progress and work to expand into the lending opportunities that they deserve.

Initiatives & Programs to Overcome the Discrimination

To overcome this discrimination, there have been laws enacted and preventative programs established to prevent lenders from discriminating against pregnant, single and minority women. For instance, the FHA protects individuals from discrimination when conducting housing transactions. The prohibitions specifically cover discrimination because of race, color, national origin, religion, sex (including pregnancy), disability and the presence of children. Similarly, the Equal Credit Opportunity Act (ECOA) promotes credit availability to all creditworthy borrowers regardless of race, color, national origin, sex, marital status or age.

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The private sector has also taken a proactive approach to stop discrimination toward women, and lenders have launched educational and marketing programs directed at single women. For instance, PrimeLending has started a program providing alternative lending to aid disadvantaged income homebuyers called Neighborhood Edge. The Mortgage Bankers Association (MBA) has engaged in discussions with the Federal Housing Finance Agency (FHFA) regarding a proposal for new credit scoring models. If the new credit scoring models come to fruition, lenders may be able to open doors to millions of consumers who are either “credit invisible” or “unscorable.”

Dr. Rick Roque, Managing Director of Retail and Founder of Menlo Company

Debbie Hoffman, Legal &

Compliance Solutions

Women’s Collaboration for the Future, what a great movement! In this issue, we accentuate the necessity and power of women’s collaboration in unlocking upward mobility while providing an in-depth look at the workforce within which this advancement is occurring. Examining the state of women in the workplace, gender-based obstacles and pressing industry topics, NAWRB is shining a spotlight on the emotional thoughts from monumental women. The 4th Annual NAWRB Nexus Conference radiated with discovery and intellect that brought attendees to a whole new level, while the 2017 Roaring Thirty Award Winners rocked the night away in celebration. Mark your calendar to attend our next annual conference in the beautiful city of Chicago in July of 2018. Life is full of wisdom we can’t always touch, but you’ll get a taste with this issue’s sheCENTER(FOLD) Edie Fraser, Chairman and Founder of STEMconnector®/Million Women Mentors® (MWM). Fraser—sharing some personal stories she’s never discussed publicly before—delves into life, work, women’s history and the future she envisions for gender equality. With a life and career spanning the better part of a century, and a talent for identifying solutions for change, Fraser encapsulates the meaning of collaboration in the women’s movement. Thank you to our great authors for their articles and insight into real stories from the American workplace, focusing on issues such as discrimination against women homebuyers, the concerns of American families, healthcare and the growing needs of the aging U.S. population, to name a few. This issue we are honored bringing to the forefront Life of a Female Veteran: U.S. Army Combat Veteran Erica Courtney. It is the first of a moving six-part autobiographical series that will captivate the hearts of America. From the emerging home buying markets in your region to everyone’s personal responsibility in contributing to true parity in the American workplace, there are countless developments to follow. Today is here and tomorrow is coming. Where will you stand in the future of our industry? Where will you stand if you join the cause with NAWRB? Desirée Patno Publisher/CEO Desirée.Patno@NAWRB.com

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GENDER DIVERSITY

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GENDER DIVERSITY

Source: Women in the Workplace from McKinsey & Co. and LeanIn.org

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Nothing says inspiring like 340 women in the real estate finance industry joining together at mPowering You! On October 21st in Denver, Colorado, the Mortgage Bankers Association (MBA) presented mPowering You, an event that will go down in history for this powerful and great organization. “It has never happened at the MBA in our 104-year history,” stated Marcia Davies, COO of MBA. “It’s time to be empowered.” The conversations and ideas generated within this space fostered networking and powerful narratives, and assisted in the creation of decisive branding and career advancements. Featuring sessions like Know and Grow Your Value and Gender and Generations: Driving New Forms of Leadership, the summit strengthened and showcased the value and power of women. Attendees heard from successful women in the industry, including Mika Brzezinski, New York Times Best-Selling Author and Co-Host of MSNBC’s Morning Joe, and Ruth Sherman, Executive Speech Coach & Celebrity Media Trainer, who shared the importance of women knowing their value, mastering their message, owning each moment and unleashing their potential. “A day like today where we’re focused on women, leadership and knowing our value,” shares Mika Brzezinksi, “is telling everybody that we need to level the playing field.” The fact that these conversations are still happening today indicates how important women’s issues are and what needs to be changed. Events like mPowering You are encouraging women to be that change in the industry.

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“Every mPower event I have attended has empowered me & inspired me greatly! It’s a great source of motivation & support! Thank you for creating such a positive network for women!”

Laurinda Clemente AMP

NE Region Director MERSCORP Holdings, Inc.

I had the honor of moderating the Words of Wisdom: What Should I Know? session featuring Patricia Arvielo, President, New American Funding; Kimberly Browne, Managing Director, UBS; Susan Chenoweth Beermann, Senior Vice President, Marketing, Ellie Mae, Inc.; and Kimberly Lanham, Senior Vice Pres-

ident, Marketing and Client Services, Digital Risk, LLC. From actionable career growth advice to their support for female advancement, these housing ecosystem leaders shared from their wealth of wisdom and experiences rising to the top of the industry. Whether at the peak of a sector or on the way up the ladder, this session delivered inspirational stories that motivated the audience to strive for their individual and collective goals. Dealing with unconscious bias is something we all face. The session with Kimberly Lanham shared eye-opening statistics about the monetary consequences of unconscious biases. A study by the University of Queensland reveals that blonde women are paid seven percent more than both brunettes and redheads. Yale University released a study that shows male and female scientists, who are trained to filter their own biases, thought that the men were more confident and smarter, and paid them $4,000 a year more than their female counterparts. The women were in agreement that authenticity and confidence are the best tools against prejudice. Women shared pivotal moments, all with a common thread, about their lives and how it boosted their confidence. Their

M .POWER.ING YOU most difficult times in their lives—the moments when their fears were realized and strengths were tested—were unexpected opportunities for professional and personal growth. All of these women overcame these hurdles with grit and grace, and their ability to adapt and endure through change is what fortified their careers and formed their characters. You never know how strong you are until your strength is tested, and you never know what you are capable of until you put yourself out of your comfort zone. This applies to our personal lives as well as our professional lives. As I mentioned in the session, we all have a personal life that plays a part in our confidence, so we should not only look to the professional side of our lives. We are fortunate to have outreach groups like these to help us share with one another, encourage each other, and grow together. The final words of wisdom these influential leaders had for the audience were to find your tribe of other supportive women, ask for what you want, don’t be afraid to be yourself, and always listen to what others have to say. “Bring who you are, and what you’re passionate about, to the table every day,” shared Kimberly Browne. “Be bold about who you are.” Lisa Sun, Chief Executive Officer and Founder, Project Gravitas, echoed this message as she encouraged the audience to “own their moment” during the Choosing Self Confidence session. Sun spoke on the inspiration behind Project Gravitas—a self-described confidence company whose innovative apparel and designs empower women to have confident senses of self—and emphasized the authority of women who know their worth. The women who attended mPowering You had the opportunity to build relationships with other like-minded executive women in advance of MBA’s Annual Convention and Expo 2017, a pivotal event helping drive the success of real estate finance professionals as industry developments match the speed of our ever-changing technological world. Women-focused events are taking hold as influential events like mPowering You take a stand in the housing ecosystem. Everyone came away with greater knowledge, understanding and tools they can directly apply to their careers

and businesses, the empowerment to be more influential leaders, and a contagious enthusiasm as seen on their beaming faces. The event brought to light gender imbalances in the industry while providing actionable solutions to bridge the gap. In other words, mPowering You was not all talk; it was about taking action. It was about inspiring women to reach higher in their careers by taking more responsibility and risks, owning their value and letting their voices be heard. Mika Brzezinski illustrated the power in identifying your own definition of success, and the effect of this conviction on pinpointing your goals. The significance of this synergy and sharing of wisdom can be seen in the impact it had on attendees. As Leora Ruzin, Vice President, Director of Mortgage Product Development, Flagstar Bank, articulates, “I wear my mPower pin with pride, and often speak about how amazing the event [mPowering You] was. For those of you who remember, I am the one that boldly announced my aspirations to one day be the COO of a major mortgage company. I am happy to announce that because of the overwhelming amount of support I received after making that announcement, combined with the support of Flagstar, I have formally enrolled in the MBA’s CMB designation program.” mPowering You reminded us of the advantages women have at their disposal, such as the characteristics to be great leaders. As speaker Dr. Tracey Wilen, a New York Times Best-Selling Author, said, “Leadership is about relationships, it’s about empowerment, and it’s about trust—all the things that women rank the highest in.” It was a privilege to represent NAWRB, a leader in women’s economic growth, and speak alongside powerful women leaders about how they managed to break through the glass ceiling and how we can help future generations of women do the same. Thank you Marcia Davies!

Desirée Patno CEO & President NAWRB

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Life of a Female Veteran: U.S. Army Combat Veteran

I am proudly part of the 1.4 percent of American women who served in the military. The day I signed the paperwork to join as a teenager the Gulf War kicked off and I watched tanks fire through the night on TV thinking, “What in the world did I do?” Having grown up in surf city USA (Huntington Beach, CA), I was never exposed to the military. To emphasize this point, the first time I walked into an Army recruiting office I had sand in my hair and sun-kissed skin; I was with a friend of mine and said, “Hi, I am thinking about joining the Marines,” not even understanding the difference in services. The recruiter took a few looks at us, confused, and had to be thinking, “Sucker!” Having always been athletic and adventurous, I thought why not. I would rather try something and hate it than wonder what it would have been like. College was a bore and I was ready for the unknown.

Erica Courtney (Part 1 of 6)

cept, I learned early on that was pretty hard for me. I was a runner breaking six-minute miles, and one particular drill sergeant could not stand that there was a female in his fast group and did whatever he could to break me. He was an infantry man where they did not work with women. There were many days of unnecessary hazing to the point he was counseled by the officers. He tried to make me cry, but failed. Many more attempts would follow. I learned early, never let them see you sweat and there is no crying in uniform.

“I am proudly part of the 1.4% of American women who served in the military.”

“Get off the bus, you maggots!” Welcome to Military Police Basic Training. What was wrong with these people? Why so much yelling? Okay, bag in hand off the bus I went into the barracks. This is actually where Hollywood gets it right. There’s lots of yelling, climbing, learning, bonding and trying to stay under the radar. Ex-

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Congratulations. First assignment, Germany. Away from everything I knew. I showed up and was nicknamed Private Benjamin. I was tasked with 12 to 15-hour patrol days and nights responsible for enforcing the Post Commander’s rules and regulations. I was 19 carrying a side arm and had authority most 19-year-olds couldn’t fathom. For any accident that involved an American within 200 miles I would drive out in my VW van with no heater and a blanket draped over me. I’d get out, wipe snow off signs, and arrive to some horrific scenes thanks to the autobahn and no speed limits. The Polezi refused to show up so I had to handle the situations; my first taste of being a first responder and having to show

WHAT WOMEN WANT FASHION

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LIFE OF FEMALE VETERAN

calm and exude control of situations. Our wartime mission dealt with POWs, security and convoy assistance. As the lowest ranking, I got assigned an M60 machine gun then a SAW and had to sleep with this metal thing in my sleeping bag. I was so cold at times I could barely get my fingers to work to shoot, but it’s amazing how warm it gets once in use. After winning over my superiors they assigned me to work with the Criminal Investigation Division infiltrating drug rings and other rackets. This was not my thing. I had a hard time lying about my identity and it did not help that I never touched drugs so I was very uncomfortable. They needed females but I could be put to use better somewhere else. Next assignment, Fort Dix, New Jersey where a major highway ran right through the middle involving many drug and alcohol busts. I became a patrol supervisor and was promoted to Corporal. I enjoyed my job as it was something new every day. However, I was now ready to go back to college. In Europe I got to travel all over the place and it opened me up to learning. I thought, “If I am going to continue in the Army, why not become an officer and get my degree?” I applied for a scholarship program and was released from active duty to become a cadet. I chose the University of Hawaii, nice beaches and cool drinks here I come. I arrived as a sophomore and had to wind down a bit from my service time. It did, however, give me a leg up as I already knew the basics. As a junior is when we’re really tested, and I learned early that leadership really is an art. What works for one group does not work for another. I had to adjust my style in order to influence and get things done. Most of my fellow cadets were from the islands and I was a mainlander who was a bit more tightly wound. I excelled and became the Cadet Commander as a senior. I made sure they understood how to show up on time, what doctrine was, what to expect in the Army and more. Again, many did not like this but later I heard from many that they now understood why I was as hard on them as I was. My goal was to prepare them. I graduated number one in my class and got my choice of branches. I chose aviation. As a Military Police I used to watch them fly all around as I drove and I thought it would be so cool to see things from the sky. In flight school I had no idea what to expect. The first six months were basic skills and you would see 10 helicopters hovering, horribly, all over the airfield. Half the day was learning how to fly in the aircraft and the other half was academics. It was an awakening as neither I, nor many others, had any idea how much work this would be. Topics

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“I applied for a scholarship program & was released from active duty to become a cadet.” included physics, mechanics, math, anatomy, meteorology, aerodynamics, electronics and more. It was essentially everything and anything that affects the factors of flight. To blow off steam the class would go to Panama City, Florida on the weekends. I especially loved it when I was in civilian clothes and my male classmates behind me wore their flight suits because we all know they join to wear flight suits and get chicks. I would ask them lots of questions and feed a bit into their ego. It was always funny when I would see those same guys later on the airfield and I was wearing that same exact flight suit, and ahead. Who knew? Pass, now onto phase two. Basic Combat Skills is where you had to learn tactics and how to integrate them into the big picture of multiple moving parts. Pass. Now I got to choose my airframe. I had set out to be an Apache pilot but as chance had it, the scout mission was just about to open up to women. The airframe was the Kiowa Warrior, the most technologically advanced airframe in the Army inventory armed with Hellfires, 2.75 inch rockets and a .50 caliber gun. The airframe has a sight that can see 10 kilometers, day or night, away and laze targets. It was the last airframe, in any service, to allow women to fly. The cavalry mission appealed to me right away. It was not a question, I was going to lead from the front! Day one of training I walked out on the tarmac and my instructor stood there, looked me over, turned his back and walked

LIFE OF FEMALE VETERAN

“...my instructor stood there, looked me over, turned his back & walked away. ...Turns out he would not teach a female.” away. Perhaps he had to go to the bathroom? Time passed, he never came back. Turns out he would not teach a female. I was confused. Having been raised with the belief I could do anything and being a girl did not matter, it was one of my first tastes of gender bias. Much more was to come. Perseverance is the name of the game. Watch out, Cavalry. My first assignment in aviation I was sent to a hotspot in South Korea. Just a year prior a Kiowa pilot was shot out of the sky for flying to close to North Korea. It was apparent the war never really ended from the 1950’s, just put on hold. This was serious. I was in the Second Infantry Division, in a heavy division cavalry unit closest to the Demilitarized Zone with nothing around but landmines, bridges set to blow, cemeteries and dog farms. Not only was I part of the first group of females to graduate as an aeroscout; I, along with a small handful of other females, was the first at Camp Garry Owen, which at the time did not allow women. Women were not wanted and the guys made no attempt to hide it. One of the first things I heard, and they did not know me from Adam, was, “Take your fucking tampons and get the hell out of here!” How do you respond to that?

These were my subordinates and I was to lead them. This was definitely a leadership challenge; my prior service helped me. I took a deep breath and walked away. Clearly they had a problem but for no other reason than perhaps feeling less manly because a woman was doing the same job? Who knows? One month later I was standing in front of my formation of men, still sensing animosity. I turned around, faced them and asked, “What is the problem here guys?” After some hemming and hawing, one guy spoke up and said, “Well ma’am, if we crash and the aircraft is on fire I don’t think you can get me out.” I thought for a second. Is that it? It all comes back to the physical with men. These guys clearly underestimated my athletic ability and mental toughness. They had no idea and just assumed that a 125-pound female couldn’t possibly be strong. I simply walked to my biggest guy in the formation, about 220 pounds, lifted him in a fireman’s carry position on my back and shoulders and proceeded to walk about a quarter mile to the flight operations center and dropped him at the step. I returned to the formation, found their jaws completely dropped, and asked if I could move on. Dumbfounded, they moved on and had nothing to say after that. I began earning their respect and for those still not on board, I had the senior Warrant Officers police them up. At one point while leading a convoy to gunnery I had to exit my vehicle and pull road guards into place at a dangerous intersection. I needed to get my 10 trucks of fuel, ammo and supplies downrange, safely. When I walked out from the back of my vehicle, a Korean driver cut the corner and struck me. I flew over 100 feet in the air landing on my head and back. I remember blacking out and feeling my legs swing out from under me. I immediately came to, sat up, wiggled my fingers and toes, and my men rushed to my aid thinking I was dead. The helmet I was wearing, the same one all my troops complained about wearing while I insisted, cracked down the center and saved my life. I got up and continued my mission. Word spread and even I was dumbfounded that I was able to walk away with minor injuries. I got in my helicopter the next day and had the highest gunnery qualification score in the unit.

Erica Courtney CEO of 2020vet and U.S. Army Combat Veteran To be continued in NAWRB Magazine Vol. 6 Issue 5

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About the Summit & Gala

About Million Women Mentors

Join Million Women Mentors and global thought leaders for two days of engaging programming around mentoring! When: October 23-24, 2017 ress Club, Washington DC Where: Who: encourage more women and girls in STEM careers through mentoring

Million Women Mentors supports the engagement of one million Science, Technology, Engineering, and Math (STEM) mentors (male and female) to persist and succeed in STEM programs and careers. MWM teams.

Highlights from 2016 Summit & Gala The second annual MWM Summit & Gala was held on October 4-5, 2016 at the Omni Shoreham Hotel with over 350 Dr Maria Velissariou (VP, R&D, PepsiCo), Balaji Ganapathy Services), and Cindy Yielding (Senior Vice President, BP)set the stage for the event by stressing the importance of

partners and state teams. We also highlighted the released of the “Women’s Quick Facts” book which contains compelling sponsors - Carnival, Johnson & Johnson and Pillsbury Law.

state teams

countries

national partners

1,856,000 pledges to date

higher education institutions

100

companies represented

For more information please contact Latifa Cooper at: 202-304-1964 or latifa.cooper@STEMconnector.org

Addressing the Concerns

of American

Families Since founding the Women2Women Conversations Tour in

2014, I have joined six of Main Street’s Congresswomen and many state officials across the country to speak with local women business owners and community leaders who are a seeking a greater voice and role in their government. I wanted the tour to give female members of Congress a chance to talk to women about what is happening on Capitol Hill; however, the most valuable piece has been the interest in legislative priorities and thoughtful, conservative governing from the next generation of female leaders. Together, we have used feedback from women across the country to move legislation on some of our nation’s biggest issues—from addressing the opioid epidemic and providing better mental health care to combating human trafficking. After three successful years of the Women 2 Women tour, our mantra has become: “All issues are women’s issues.” Women make up more than 50 percent of our nation’s population and want to see action across a wide breadth of issues like increased job creation, improving access to health care and education, and helping those struggling with addiction to receive the help and resources they need.

Kari Rihm, CEO of The opioid addiction crisis, which is front page news nearly every Rihm Kenworth; day across the country, was first Jan Ballman, CEO of brought to our attention during Paradigm Reporting; a tour stop in Ohio in 2015. Unfortunately, this crisis con- Sarah Chamberlain tinues to tear families apart with overdoses claiming victims across all ages, races, genders and socioeconomic levels. Main Street Republicans are committed to keeping up the fight against opioid deaths and have introduced new legislation in response to the concerns we heard from local moms, teachers and business owners. For example, Indiana Representative Susan Brooks authored a bill that has helped curtail the over-prescription of opioids, while Ohio Representatives Pat Tiberi’s STOP Act and Dave Joyce’s STOP OD Act address illegal

opioid trafficking, increase access to the lifesaving drug Naloxone, and provide better overdose training for law enforcement and first responders. During many Women 2 Women tour stops, we also heard about the need for better, more comprehensive mental health care. The Helping Families in Mental Health Crisis Act was first introduced in 2013 and the bill struggled to move through the committee process; after this issue was raised on the Women 2 Women Tour, Main Street members used that momentum to rally votes and pass this important measure in the House of Representatives. When The Helping Families in Mental Health Crisis Act passed, it became the first mental health legislation signed into law since President John F. Kennedy was in office. In addition to our efforts to prevent and treat drug addiction, we have also acted on the need to improve access to education for women and their families. On tour, we learned that the current Pell Grant system only awards money for tuition assistance for traditional fall and spring semesters. This reduces the opportunities many part-time and alternative schedule students have to complete their degrees.

Rep. Susan Brooks, Sarah Chamberlain, Rep. Elise Stefanik NAWRB MAGAZINE |

AMERICAN FAMILIES

Sarah Chamberlain; Rep. Mimi Walters; Tina Aldatz, CEO of Savvy Travelers New York Representative Elise Stefanik is leading the legislative effort to expand the eligibility window to include summer classes and increase the maximum Pell Grant award. This will give lowand middle-income families, as well as part-time working students, added flexibility to achieve an affordable college degree. In February, President Trump signed Virginia Representative Barbara Comstockâ&#x20AC;&#x2122;s INSPIRE Women Act into law. This bill, which found broad bipartisan support in Congress, will promote the advancement of young women in STEM (Science, Technology, Engineering and Math) fields and aerospace, areas in which they are currently underrepresented. This tour further shed additional light on some issues we have been long working to address: human trafficking and sexual assault. These issues not only affect the direct victims of trafficking and abuse, but have a widespread impact on their families and local communities. As mothers, women want to keep their families safe. To further work toward ending human trafficking, former Main Street member Renee Ellmers of North Carolina passed the Trafficking Awareness Training for Health Care Act of 2015 which helps improve standards of care for victims of human trafficking. Representative from California Mimi Walters was also successful in passing the Survivorâ&#x20AC;&#x2122;s Bill of Rights into law to ensure that victims of sexual assault have full access to the justice system. The discussions on the Women2Women Conversations Tour have led directly to action on legislation that will improve the lives of women and their families. We are working to change the belief that gridlock in Washington is the new normal and that the concerns of American families fall on deaf ears in Congress. Women 2 Women is honored to engage with the next generation of female leaders, and we hope to see you during our next tour stop soon!

Sarah Chamberlain

President and CEO Republican Main Street Partnership

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WOMEN’S ECONOMIC GROWTH

Zeeda Daniele Doring Lloyd Erica Courtney Edie Fraser Mercedes Kerr Gail Lara Sarah Chamberlain Laura Dietz Sara Sutachan

PUBLISHER/ EDITOR-IN-CHIEF Desirée Patno SENIOR GRAPHIC DESIGNER Kendall Roderick CONTENT WRITERS Belester Benitez Burgandy Basulto

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PRODUCTION ASSISTANTS Jay Jones Yvette Hernandez Lucille Chaney Jing Tian CONTRIBUTORS Dr. Rick Roque Debbie Hoffman

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NAWRB Magazine is a bi-monthly magazine featuring unique content, articles on diversity, inclusion and engagement for women in the housing ecosystem, exclusive interviews with industry professionals, business development tools, book reviews, feature stories and more. All materials submitted to NAWRB Magazine are subject to editing if utilized. The articles, content, and other information in this publication are for information purposes only. Articles, content, and other information in this publication without named authors are contributed by the publication’s staff, but do not necessarily reflect the views or opinions of NAWRB. NAWRB assumes no liability or responsibility for any inaccurate, delayed or incomplete information, nor for any actions taken in reliance thereon.

949.559.9800 | Media@NAWRB.com

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As a leader in Women’s Economic Growth, we provide new emerging ideologies, employment & business opportunities, accountability & deliverables on behalf of women in the housing ecosystem; bringing women to the forefront to advance women’s futures for generations to come. Women’s Independence.

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Contents:

sheCENTER(FOLD)

Edie Fraser

4 The Gender Gap: Women as

Mortgage Consumers by Dr. Rick Roque and Debbie Hoffman

8 Infographic: The Absence of Gender Diversity in the Workplace

10 mPowering You: MBA’s Summit for Women in Real Estate Finance

12 Life of a Female Veteran: U.S. Army Combat Veteran Erica Courtney (Part 1 of 6)

17 Addressing the

Concerns of American Families by Sarah Chamberlain

22 4th Annual NAWRB Nexus

Conference: Women’s Collaboration for the Future

38 sheCENTER(FOLD) Edie Fraser 46 4th Annual NAWRB Nexus Conference: 2017 Roaring Thirty Award Winners

50 Nonprofit Counseling: Protecting and

Preserving a Vital Service to American Homeowners and the Finance Community by Zeeda Daniele

52 Driving Collaboration across the Health Care Continuum by Mercedes Kerr

54 Women’s Advancement in Real Estate: An Interview with Sara Sutachan

58 Diversity: Why NAWRB?

60 Catching the Next Wave of Mortgage Borrowers by Doring Lloyd

64 Helping Warrior Dogs Transition by Laura Dietz 66 Mentoring & Leadership Guiding the Way to Success! by Gail Lara

Vol 6. Issue 4: Women’s Collaboration for the Future

NAWRB MAGAZINE |

Women’s Collaboration for the Future

S cores of executive women and industry leaders came together for women’s economic

growth, million-dollar contracting opportunities and invaluable resources at the 2017 NAWRB Nexus Conference: Women’s Collaboration for the Future. From July 16th-19th, 2017, NAWRB’s expert panelists equipped attendees with actionable solutions and specialized forecasts, providing a comprehensive inside look at the near future of the housing ecosystem. The excitement was palpable as attendees filtered into the Hilton Orange County/Costa Mesa and settled into their seats next to future strategic partners and collaborators. Desirée Patno, NAWRB CEO and President, kick-started the event by recognizing the hard work that went into making the conference possible and the professionals who made time in their busy schedules to be a part of the diversity and inclusion (D&I) movement. The Investment Opportunities: Access to Capital Facilitator workshop commenced sessions with Robert Fragoso, Realtor, CEO, Investor, who with over 28 years of experience in real estate investing and flipping homes described the importance of recognizing industry trends when making investments that will maintain profitability in the future. “I came with the intent to share some of my experiences and knowledge—having been a part of so many homes that have been flipped—and what I see in the marketplace,” stated Fragoso. “Not necessarily what’s going on today, because that’s ever-evolving, but to have attendees learn how to spot the changes and the next opportunity so that they can be not just following the trend, they’re essentially the trendsetter.” During the two powerhouse workshops that followed—How to Get and Retain Corporate Business and Federal Deposit Insurance Corporation (FDIC) Training Facilitator—attendees heard from Cheryl Travis-Johnson, VRM Mortgage Services COO, on capturing and retaining

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NEXUS CONFERENCE

corporate business and Victor Christiansen, FDIC Chief of Minority and Woman Business & Diversity Inclusion Branch of the Office of Minority and Women Inclusion, on understanding the FDIC’s practices for procuring goods and services to streamline strategies and maximize their businesses. Compounding the value of these sessions was the option for attendees to meet with Travis-Johnson in a matchmaking setting and engage with Christiansen during the question and answer portion of his workshop. Working with the government is an invaluable resource for businesses climbing the ladder, and receiving answers from the source empowered attendees to take what they learned and leverage it to generate real results in their business. Our first day of sessions continued with the REO Forum Facilitator workshop featuring Jennifer Meagher, REO Senior Director, HomeSteps®, Freddie Mac. The workshop addressed the development and maintenance of good relationships with corporate sellers in a declining REO market. Among her topics, Meagher focused on current management teams, outreach, strategies and internal changes. “More than anything else, the importance of attending industry events like this is touching base with our industry partners and really understanding what their needs are and how they can best interact with corporate sellers,” said Meagher. “It’s another opportunity for us to get our messages out, because I think so much of it is not being able to have good information to make the best decisions. This is a great opportunity for us to share and network.” Building on this momentum, the member-only NAWRB Diversity and Inclusion Leadership Council (NDILC) Meeting was held followed by our Conference Kick-off Party! NDILC strengthened its continued efforts to advance women and diverse spend in the housing ecosystem, introducing novel initiatives focused on topics like mentorship and avenues for upward mobility. Our kick-off party—offering laughs, delicious food and the building of longstanding relationships with exhibitors—was the perfect stamp on sessions brimming with profitable business information and synergistic collaboration. Day one wrapped up with Desirée Patno finishing the night on the town with Minimal Dollars, Maximum Dazzle! Patno, an expert shopper with 50 years of experience, gave attendees the

secrets to buying top designer brands for pennies on the dollar. Wardrobe is paramount for professionals in the spotlight, and women can be especially judged on their appearance. Whether you’re wearing a designer piece or a classic fitted dress, Patno guided participants through the process of communicating the right message to the person across the table before even saying a word. Attendees convened in Catalina I ballroom as Dr. Tanya Wattenburg Komas, Founding Director and CEO, Concrete Preservation Institute (CPI), delivered her keynote speech to begin day two. Dr. Komas outlined her speech’s main points: 1. Don’t be afraid of accountability & personal responsibility 2. Be silly and be home when you’re home 3. Go for it in business 4. Unlikely characters are leading infrastructure and growth for veterans CPI, a nonprofit educational foundation and partner of the National Park Service (NPS) and the U.S. Military, trains military service members to enter jobs in concrete, construction and infrastructure while preserving national landmarks. Dr. Komas affirmed that Alcatraz is the best place in the world to learn what can go wrong with concrete because it was all built with

It’s great to have an organization like this that is focused on women. There

are many other organizations that are focused on minorities and women in general, but this is singularly focused on women; which I think is a great support group and great network for women to be a part of.

Sharron P.A. Levine

Director, Office of Minority & Women Inclusion (OMWI), FHFA

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entrepreneurs to continue their efforts in diversity and inclusion with innovation and resilience. Some changes that these entities face include possible alterations to Dodd-Frank and the conservatorship status of Fannie Mae and Freddie Mac. Victor Christiansen reminded everyone that people are still trying to figure out the changes that might happen, and “until we find out what the changes are, it creates a confusing atmosphere.”

concrete, and called attention to the serious issue deferred maintenance is. In fact, the National Parks Service has $12 billion in deferred maintenance. Dr. Komas chronicled various structures that beckon repairs, from Alcatraz to the Pearl Harbor Mooring Quays. She reminded the audience that most of the concrete problems in our country are over 75 years old and the issue of how they are managed is becoming increasingly prevalent, suggesting to work with someone new with new ideas rather than someone with 30 years experience because today’s concrete projects necessitate modern solutions. “Get someone new who doesn’t have preconceived ideas,” Dr. Komas stated. “Putting in new concrete is different that fixing something old.” For example, in condominiums, especially near oceans in Florida and California, balconies are the first things that need repair. However, there’s not much advocacy in the U.S. for condominium owners, and Dr. Komas believes there should be more. Dr. Komas concluded by discussing her journey leading to CPI. Safety and caring about students motivated her to leave her tenured position as a professor to work for a nonprofit. She fought the university for years and stepped down as chair of her department as her pleads for increased safety and accountability were pushed aside time and time again. She emphasized work-life balance which she learned from her husband who is an orthopedic surgeon, joking that when you’re on vacation you shouldn’t only take pictures of concrete. What a powerfully engaging session to kick off our Monday morning! Following Dr. Komas was an enlightening discussion with Directors from the Office(s) of Minority and Women Inclusion and GSE’s, including guests Sharron P.A. Levine, Director, OMWI, FHFA; Victor Christiansen, Chief of Minority and Woman Business & Diversity Inclusion Branch, OMWI, FDIC; Stuart Ishimaru, Director, OMWI, CFPB; Tomaneci A. WallerDay, Supplier Diversity Director, Freddie Mac; and Moderator Desirée Patno, CEO & President, NAWRB. The expert panel shared their personal experiences of changes within their organizations with the advent of the new administration. They advised organizations, businesses and

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When addressing the changes their agencies are facing, the panel shared how they stay motivated and engaged in their work. Christiansen is driven by the fact that he is a minority; diversity has always been a major part of his life. Stuart Ishimaru stated that he is engaged by creating new opportunities for various constituencies, and making sure people have opportunities to make them competitive in the workforce, adding that “diversity of experience” needs to be the focus of diversity and inclusion. He advises that businesses “tap into new sources of talent and markets out there.” Sharron P.A. Levine shared that she is motivated by the tangible effect her work has in her company and the impact of the FHFA’s regulation of their respective agencies, including Fannie Mae and Freddie Mac, on the world at large. The endless possibilities in the future of supplier diversity motivate Tomaneci A. Waller-Day, who is encouraged by innovative ideas from entrepreneurs and businesses on increasing the utilization of diverse vendors and women in business that will make Freddie Mac a better corporation. Entrepreneurs play a vital role at the forefront of problem solving because, as she says, they have their “boots on the ground.” Sharron P.A. Levine and Tomaneci A. Waller-Day both emphasized the importance of making

Gass reminded attendees of

the various ways we utilize technology and stated that we are currently in our fourth industrial revolution. “Believe it or not, in this real estate market, we have the opportunity to take advantage of technology every day and we probably don’t even think about it,” she said. The Microsoft How-To Guide for Real Estate Professionals, available at http://aka. ms/NAWRBguide, offers step-by-step directions to streamline your operations.

Melanie Gass

Sr. Partner Channel Marketing Manager SMB&D, USSMB Business Development, Microsoft,

NEXUS CONFERENCE diversity and inclusion a “business imperative” despite changes that may occur. Waller-Day asked the audience, “What are you doing now that you’re putting in place for the future of your company despite changes?” Change, she states, is inevitable, so businesses need to focus on how they will succeed regardless of political climate and changes in regulation. Sharron P.A. Levine reiterated that “diversity and inclusion are about change,” which is why businesses and corporations need to focus on embracing change and working through it. Your attitude towards that, Levine asserts, “drives whether you are successful.” Waller-Day reminded us that regulation brings “a heightened awareness and accountability” that helps drive organizations forward in raising diversity and inclusion. Closing the session on an optimistic note, Ishimaru reiterated his belief that “the future is bright no matter what.” This cheerful sentiment was embodied by Melanie Gass, Sr. Partner Channel Marketing Manager SMB&D, USSMB Business Development, Microsoft, as she enthusiastically unveiled a New Special Training Guide for Real Estate Professionals! “My whole mission, passion and why I do every single day the things that I do is because I want to make sure people are as empowered when they use technology as possible,” Gass began, after pointing out the high number of attendees in the audience who had Microsoft Surface Pros. “Microsoft has been around for 40 years. Do you know we have never developed a guide to help the real estate industry be more productive in their day?” Gass emphasized. “Last year, I stood up on stage and I gave you a bunch of time-saving tips. Any of you that were there might recall that. I kept asking you, ‘Is this going to help you save time in your day?’ And you said, ‘Yes.’ What you didn’t know is that that moment would be part of a groundbreaking opportunity to create a guide that becomes available to the real estate industry starting today at this conference.” Gass reminded attendees of the various ways we utilize technology and stated that we are currently in our fourth industrial revolution. “Believe it or not, in this real estate market, we have the opportunity to take advantage of technology every day and we probably don’t even think about it,” she said. The Microsoft How-To Guide for Real Estate Professionals, available at http:// aka.ms/NAWRBguide, offers step-by-step directions to streamline your operations. Gass walked attendees through the guide’s tools, such as decluttering your mailbox, creating a personalized mortgage calculator and compiling a client tour property list that helps your clients remember their thoughts on a particular property, to name a few. Attendees expressed their delight at the pristine tools of the new guide as Gass continually questioned, “Wouldn’t that be wonderful?” followed by, “Well, now there’s a button for that.” She invited attendee and user feedback through her LinkedIn profile and Twitter account before finalizing the session with a group selfie.

streamlined course of action when an issue arises. Sharon Asar, Deputy Ombudsman, CFPB Ombudsman’s Office and Philip D. Lovas, Regional Advocate – SBA Region IX, Office of Advocacy, U.S. Small Business Administration (SBA) shared the resources their offices offer to America’s small business owners and the value they hold for entrepreneurs during the Know Your Rights and Resources session. Asar described the CFPB Ombudsman’s Office as an independent, impartial and confidential resource for the public assisting with process issues. She accentuated the importance of protecting your brand and reputation as an entrepreneur and detailed how she began her career in intellectual property where she received a great look at and understanding of business owners and consumers. Asar addressed the Alternative Dispute Resolution (ADR), which assists in resolving problems prior to litigation before they enter a formal process. She told the audience that they’re happy to offer as much assistance as they can. The CFPB Ombudsman’s Office wants to make the CFPB more accessible, and they encourage business owners to reach out with their questions and issues. As Asar explained, ombudsman is a Swedish term that

In our vendor academy, last

year, we had 13 participants in the legal division and of that 13, seven of them have active contracts this year. They’re engaging and anytime the legal department has a need, they’re going to this group because they know them, they spent five months with them, they understand their services and they’ve built this relationship. Because of that, because they were able to say, ‘I didn’t even know that these vendors were out here to do this that had these capabilities that were diverse,’ they can continue that relationship. It’s just going to keep growing because the things that we do, we have to do with intent, right? We have to be intentional. If we’re going to develop these vendors, if we’re going to have them commit to coming to our office once a month for five months, then let’s take the time to purposefully utilize them.

Tomaneci Waller-Day Supplier Diversity Director, Freddie Mac

With limited resources, it is crucial for small business owners to know their rights and resources, to be able to identify a

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NEXUS CONFERENCE Philip D. Lovas gave a similar answer, specifying that timeframe pertains to the particular issue or regulation. These offices are helpful resources to small business owners facing difficulties in the marketplace. The NAWRB Diversity and Inclusion Leadership Council (NDILC) Member Power Luncheon featured our panel of C-suite and executive women: Tami Bonnell, CEO, EXIT Realty; Cheryl Travis-Johnson, COO, VRM Mortgage Services; Toni Moss, CEO, AmeriCatalyst LLC; Stacey Walker, Director, Housing Outreach Affordable Lending and Access to Credit Single Family Business, Freddie Mac; and Desirée Patno, President & CEO, NAWRB, as they shared their insights on the status of C-suite women, personal development and connecting millennials to the housing ecosystem. refers to an individual who can advocate for the public; the office is impartial and advocates for fairness. The consumer complaint process is a valuable resource for business owners. Philip D. Lovas outlined that the Office of Advocacy deals with research, regulations and business data, reporting to the government and SBA on the public’s input on these matters. The Office of Advocacy overlooks the effect of regulations on small business owners, making sure that the rules being written do not negatively impact small businesses. Lovas clarified that they focus on macro issues, while other offices deal with particular problems.

Moderator Vanessa Montañez, Business Consultant, former VP, Mortgage Business Development Manager, East West Bank, initiated the discussion by asking the panel how they were working to increase the landscape of C-suite women. Tami Bonnell emphasized the importance of increasing women’s

Lovas described the Office of Advocacy’s role, describing that they send information to agencies and host regulatory roundtables to collect data, making a concerted effort to have the right people in the room at these meetings in order to be responsive to issues they hear from the public and business owners. Lovas reminded attendees that there is strength in numbers, using the Asian American Hotel Owners Association (AAHOA)— which was very small when they started 15 years ago and are now a powerhouse, including on Capitol Hill—as an example. He stated that it is possible and very important for NAWRB and similar organizations to have this effect. Regarding the topic of response timeframe when contacted with an issue or complaint, Sharon Asar replied that they aim to response as quickly as possible within a few business days.

representation in executive boards, and the representation of the various, unique cultures that every individual represents. Toni Moss added that we need to make sure to include women of color in our dialogue. Beyond gender and race, Cheryl Travis-Johnson suggests we pay attention to age as well, specifically the inclusion of millennials into the industry. In her work of educating people on home buying and homeownership, Stacey Walker stated that 80 percent of those who come to her for information are women. Women often take the lead in decisions about home buying, and they are encouraged by talking to women who are as diverse as they are. Diversity plays an important role not only in business production but also in outreach. To increase the number of executive women, the panel emphasized the importance of mentorship and encouraging women at middle management, a stage where women’s careers often meet a roadblock before reaching the C-suite. The panel gave attendees tips on how to ensure their personal development, from always being a student to taking responsibility for your education and setting personal goals. The luncheon concluded with an honest dialogue about self-confidence. Our panel shared that a woman can work on her

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I think professional development

is a key feature for how we see we can empower and reach more women to be successful in their careers. Million Women Mentors believes in the importance of role models and through organizations like NAWRB, we can truly expand our circle of influence which means we expand the number of women that we can reach and support in being very successful. Not only those that are NAWRB Members, but all of the organizations that are somehow related to your members. Again, if you think about the depth and breadth of what we can do by partnering, the success of Million Women Mentors has really been in connecting key organizations that represent successful women and that ultimately collaborate to build synergistic responsibilities.

Lorena S. Fimbres

VP, Chief Business Development Officer, STEMconnectorÂŽ and Million Women MentorsÂŽ (MWM)

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NEXUS CONFERENCE confidence by deciding to be a role model for others and embracing humility. Thank you to these inspirational women for sharing their words of wisdom and empowering other women at the NAWRB Nexus Conference. Following our motivating luncheon, we had the honor of screening Monda Webb’s award-winning short film, “Zoo (Volk-

We’re going to work

together for one cause, and that cause is to bring our community up. Homeownership is key to any small business owner. We need to make sure that they feel secure and have a piece of the American dream. That American dream here in California has doubled and tripled in cost, so we need more affordable housing. I’d like to see what attendees’ thoughts are on affordable housing, because our population of minorities here in California is getting less and less of the piece of the real estate boom that’s coming. We need to make sure that we educate our community and also educate the representatives in Sacramento so we can pass regulations that address some of the roadblocks to building these homes. A lot of them are regulations from the environmental side, so we need to ensure that there’s a balance so we can get more people to own homes. Access to capital is the biggest challenge to the average minority homebuyer. A lot of the minority communities really got hit by this last mortgage fiasco, through no fault of their own, and they’re still trying to overcome it. I think that’s the problem; also, the trust factor. When you’re in front of somebody who’s giving you a loan, there’s a trust that goes on, and that trust has been broken. It takes a while to gain that trust again. I think the banks and the mortgage companies need to work on that a little bit more. Not a little, a lot more.

Frank Montes

California Hispanic Chambers of Commerce (CHCC) Chairman of the Board

erschau),” based on the last known human zoo in Brussels, Belgium at the World’s Fair in 1958. Webb began by describing the process of making the film, of sacrificing things like her home in order to be able to complete the production and submit it to festivals. The phrase “passion project” doesn’t even begin to cover her journey. The moving film depicted the reality of human zoos, displaying both the points of view of the humans exhibited at these zoos as well as those who attended them, emphasizing the importance of history in mapping the future. At the film’s conclusion, NAWRB Washington, D.C. Government Relations Chairwoman & Rathell Enterprises CEO Silvia Rathell surprised Webb with a new top-of-the-line Apple computer, a gift that multiple members of NAWRB’s community worked together to make possible. The gift will enable Webb to continue making films, telling stories and doing the important work to which she is dedicated. It was a truly powerful moment and display of women’s collaboration to support one another. That’s power! Rathell followed by sharing her life story, relating how she came to the U.S. at age 14, attended school and eventually became a U.S. citizen. Rathell shared that her mother was in an abusive relationship and one day, at the request of her mother’s partner, Rathell’s mother told her and her siblings that they had to leave the house. This caused her family to separate and Rathell became homeless. One night, Rathell was about to throw a brick through a car window to have somewhere warm to sleep, but she opted not to. She sees this as a pivotal point in her life that motivates her today; that was a fork in the road that would have changed everything. She was eventually raised in the foster care system, and she thanks her foster parents, her angels, who gave her unconditional love and the gift to be a normal teenager. Rathell is happy to be creating a sisterhood making a place at the table and providing a platform for women. The session delivered the power of women leaders, their versatility, and the importance of supporting one another. This is what the women’s movement needs and what the NAWRB Conference delivers. Zeeda Daniele, Community Lending and Strategic Partnerships National Manager, New American Funding, moderated an engaging session, Women’s Poverty and the Housing Ecosystem, with special guests Deborah Canady, Enterprise Partnership Manager, EarnUp; Silvia Rathell, NAWRB Washington, D.C. Government Relations Chairwoman and Rathell Enterprises CEO; and Sandra Speed, Regional Diverse Segments Manager, Wells Fargo. Daniele began by questioning what the greatest resource that can help women and their families out of poverty is. Sandra Speed mentioned that education was her greatest motivator, adding that with education, women can earn degrees that can help them attain high-paying jobs and greater opportunities. To restate, “Education,” Sandra Speed said, “is the greatest gift you can help someone with.” Silva Rathell agreed that women’s education is an incredible stepping stone out of poverty, as educated women can have a

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NEXUS CONFERENCE Roaring Thirty Awards Gala, Women’s Homeownership: Fastest-Growing Segment, by communicating the value of women as a formidable emerging home buying market and providing personal accounts from women who turned their homeownership dreams into reality. Speakers Vanessa Montañez, Business Consultant, former VP, Mortgage Business Development Manager, East West Bank; Stacey Walker, Director, Housing Outreach, Affordable Lending, Access to Credit Single Family Business, Freddie Mac; Helen O’Sullivan, President & CEO, NeighborWorks Orange County; Hyepin Im, Founder, FACE/KCCD; Alicia Lopez, Branch Manager, Wells Fargo; and Hope Atuel Executive Director, AREAA ended the first day of sessions with a bang.

positive effect on their families and community. Explaining this rippling effect, she said, “You give a woman something and she magnifies it times a thousand.” Deborah Canady noted that women often make great sacrifices in order to break free from “generational curses” to create a better life for themselves and their children. However, women need to make sure the sacrifices they make do not prevent them from following their goals. For these women who feel their goals are not achievable, Daniele reiterated the importance of having someone who encourages them to do the “impossible.” If women can put their mind to something, they can achieve it. Daniele also asked the panelists how we can be a voice to women who are dealing with rising food costs and expensive child care. All of the women shared how they instilled their family, loved ones and community with the knowledge to take control of their financial situation and grow their wealth. Financial literacy education can have a profound effect on women’s lives. Rathell shared how she taught her younger sister to save money to buy a house. Today, her sister is on her way to buying her third home. In her payment process company, EarnUp, Canady helps people become disciplined in growing their savings, thereby increasing their financial independence. The greatest way we can help women in poverty is to instill hope that they can change their current circumstances. In answering the question of a quality that binds women who leave poverty, the panelists emphasized the willingness to get ahead and fearlessness. Rathell explained that women who act to improve their future, and overcome excuses that are driven by fear, have the power to change their lives. As Daniele says, your motivation will always be greater than your fear. The panelists agreed that we can support women in overcoming their fears by sharing our knowledge and telling them our stories. By doing so, we are providing role models to look up to and emulate. The session provided great insight on how we can improve the lives of women and children in America. The greatest takeaway, given by Daniele, is to “use your strengths and faiths to benefit others.”

Helen O’Sullivan provided history, describing that when she began her career, homeownership forms were all structured under the assumption that the buyers were a husband and a wife. As the industry has developed, it has grown to recognize that there are other buyer demographics. The housing ecosystem must continue recognizing these buyers and empowering them on their homeownership journey. O’Sullivan went on to relate the story of the Reyes family, which was impacted by a divorce in the family. Melanie Reyes and her three children utilized NeighborWorks Orange County as a resource to make sound

think that the whole entire thing is to get involved to evolve. Hopefully more people make it to the conference because this is the most content at any event. We have to share that with everybody for them to attend. From a personal perspective, I think the best thing that I can help people with is to put together an action plan of what it is they want. You need to know what you want; you need to put together a six-week action plan. Do it every month halfway through the month; book four hours to work on your life and on your business, not in it. Plan it in advance and you’ll get better and better at it every single month so that you’ll find you’re accomplishing more than you ever thought possible. I think that would help every individual regardless of what it is that they are pursuing.

Tami Bonnell

CEO, EXIT Realty Corp. International

NAWRB finished the last session of the day before the 2017

NAWRB MAGAZINE |

NEXUS CONFERENCE financial decisions and eventually transition into homeownership. Monique Ruelas followed by sharing her own experience with NeighborWorks Orange County. Owning a home became a reality for Ruelas after she went through a divorce and was encouraged to attend a NeighborWorks Orange County class where she enrolled in a 10-month program that ended with her purchasing a home. She told attendees to make sound financial decisions, reminding them that you don’t need 18 pairs of shoes or purses. She encouraged women to give up what they do not need and budget in order to save money. Ruelas truly envisioned becoming a homeowner after the NeighborWorks course; they walked her through the entire process and she was able to learn about topics she didn’t have knowledge about before. The homeownership process empowered her entire family, and she was able to help her daughter Emily buy her first home age 23. O’Sullivan shared that it wasn’t until last year that she was prompted to think about women’s homeownership. She is very proud that 74 of NeighborWorks Orange County’s homebuyers in the last year were women, and most of them were single mothers.

to consumers who do not currently qualify to buy a home. Real estate professionals must be the solution to the problem, Lopez emphasized. If professionals do not have the right knowledge, they are not doing their job. Hope Attuel spoke on Asian women who are coming to the U.S. to work, and the fact that their median income is high at a little over $100,000. As these women progress, they will achieve homeownership and capitalize on its benefits. Attuel believes women, not just those of the AAPI population, hold tremendous value to the industry and encourages professionals to reach out to this market by leveraging the business tools at their disposal. Homeownership is an invaluable contributor to generational growth. The stability owning a home provides for a family carries through generations, contributing to healthier, more successful children who transport its impact into the future.

Hyepin Im stated that she focuses mostly on people of color, but that one of her company’s first success stories was that of a mother whose diligence and perseverance allowed her to buy a home and propel her life, eventually becoming a successful business owner as well. Im had a similar example set by her own mother, and she eventually bought a home with her mother’s assistance after completing her MBA. Stacey Walker mentioned HMDA data which reveals that an increasing number of older women are increasing in buying activity. Walker pinpointed that many agents provide home buying education, and a large percent of the buyers seeking these resources are women searching to solidify their accomplishments and create better lives for themselves and their families. Alicia Lopez confirmed that women want independence and want to be empowered through homeownership, emphasizing that it’s all about education and spreading awareness, especially among the young generation. She tasked attendees with educating their children on financial literacy, sharing that she was taught to buy a home before buying a car. Lopez encapsulated the truth that education isn’t only for consumers; it’s for professionals as well. The industry must be able to provide answers

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With these incredible stories and resources, our speakers communicated the impact of homeownership on the lives of women. We encourage all women to believe in their ability to become homeowners and utilize the tools available to transform their dreams into reality. We ended day two of the conference in style with the NAWRB Roaring Thirty Awards Gala, honoring women leaders in the housing ecosystem making a difference for women. With the theme “Who is Your Female Hero?” the gala paid respect to

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When speaking on change, Moss stated that “the greatest change is the pace of change,” and the catalyst of this change of pace is globalization. Globalization, which includes technology and mass communication, “magnifies and accelerates,” according to Moss. Moreover, due to globalization, the world has become inextricably linked.

trailblazing women of the past whose work and bravery paved the way for us. Our lovely live jazz band provided the soundtrack for the night as attendees mingled, danced, took advantage of our women’s snapshot gallery and celebrated one another. From CEOs to advocates, 30-year veterans and up-and-coming entrepreneurs, NAWRB highlighted today’s incredible women who walk the walk.

While globalization has the benefit of connecting the world, it will also present “the biggest challenge of our lives.” Moss shared that the world is currently experiencing a “slow-motion economic crisis” and that the economy has only “grown in fits” since the 2008 economic crash. Some of the important issues that Moss believes

“From CEOs to advocates,

30-year veterans & up-and-coming entrepreneurs, NAWRB highlighted today’s incredible women who walk the walk.

”

Toni Moss, CEO, AmeriCatalyst, LLC, delivered a captivating day three Keynote Address on the current state of global economics and how globalization will affect our future.

need to be addressed are job obsolescence, income inequality, off-sourcing, loss of household mobility and savings.

Moss started her presentation by sharing her experience working in the Netherlands, her part in designing the world’s first electronic mortgage origination system, and her company’s culture and ethos. AmeriCatalyst, Moss explains, stands on five pillars: Content, Context, Community, Communication and Convergence.

Speaking on job obsolescence, Moss is concerned about the growth of artificial intelligence, which she calls the most profound technological shift since the Industrial Revolution. Moss’s discussion sparks an important discussion that needs to be had on the status of our economy, where it’s headed, and how we can prepare for an accelerated pace of change.

Content means knowing your subject, finding the right information, learning to educate yourself and synthesizing your content into something unique. Context, the second pillar, is the background for your content. As Moss explains, “Ideas have no power without context.” She says that it pays to know the appropriate context in which you can show your relevance and share your knowledge.

Following her keynote, Toni Moss was joined by Logan Mohtashami, Senior Lending Manager, AMC Lending Group & Housing Data Analyst, to provide economic forecasts and abundant food for thought on the future of homeownership and professional growth in the American economy.

The third pillar, community, precedes commerce. Moss notes that it is important to get to know who you are working with because personal connection helps drive good business. Moss stated that she strives to facilitate communication, the fourth pillar. Starting a dialogue with people can help a convergence of information. With convergence, the fifth and final pillar, individuals can determine the trajectory of upcoming trends.

Mohtashami mentioned that demographics is the single most important thing to economics, and something in which America will have an advantage over the rest of the world. He identified our current longest job expansion of 81 months and mentioned that soon we will have the longest economic expansion in history, asserting that the future for America will be better than for the rest of the world. Millennials are the biggest buyers of homes in America and the

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NEXUS CONFERENCE world. Americans are getting married later and having children later. Mohtashami forecasts that in the years 2020-2024, homeownership will pick up as millennials have children, albeit it later than previous generations. The demographics for housing will start to get better not worse, he predicts. The income brackets in this country cater to the educated class, and Mohtashami stated that if you’re not educated or trained, you will most likely not become a homeowner in the future.

On the topic of ongoing changes to Dodd-Frank, Davies noted that revisions will hopefully bring clarity to rules that gave the industry some uncertainty. Regarding the main issue for the GSEs—the reform to take them out of conservatorship—Davies believes it will be a legislative process.

More than 33 percent of all Americans have a college education, 70 percent of student loan debt is under $14,000 dollars, less than 3 percent of student loan debt is over $100,000 and 30 percent of all student loan debts are held by college dropouts. Mohtashami pointed out that this last group is the most troubled that doesn’t receive a lot of discussion, but even their debt is manageable.

Next to take the microphone was Tami Bonnell, who shared her thoughts on the future of real estate. The industry, she said, goes through cycles all the time, but she does not believe it will be taken over by technological processes. Purchasing one’s primary residence is an important, emotional decision, and consumers seek help from agents with firsthand experience who will help them through this process.

As this debt is handled, millennials enter life milestones and educational attainment leads to capable wages, from 2020-2024 there will be housing demand that leads to construction, Mohtashami affirmed. Responding to attendees’ concerns about the future of homeownership and professional growth, Mohtashami discussed how the U.S. has had recent job openings of around 6 million, bigger than some European countries’ entire populations. Mohtashami stated that he isn’t most worried about the shortage of jobs, including as a result of automation and robotics, he’s preoccupied with the replacement of jobs as the older generation leaves the workforce. He accentuated his point by reminding audience members that the U.S. is the only country in the world that has a growing prime age labor force, forecasting that these Americans will enter homeownership and impact the housing ecosystem. Mohtashami believes the best is yet to come. Moss took a moment to mention that she holds views that contradict Mohtashami’s and reiterated the thought-provoking characteristic of having significantly different interpretations of the same or similar data. Abutting Moss’s incredible keynote, Mohtashami offered a distinct analysis of current housing ecosystem conditions. The power delivered by showcasing these two points of view displayed the intricacies in the industry and the diverse possibilities for its future. In our third session of the day, Toni Moss moderated a discussion on the economic forecast for women in the housing ecosystem with special guests Marcia Davies, COO of the Mortgage Bankers Association (MBA), and Tami Bonnell, CEO of EXIT Realty. Although she supports the advancement of women into the C-suite, Davies began by making a nuanced point: “Not having

the highest title doesn’t mean we haven’t gotten to the top.” Everyone has their own definition of success; your peak may not necessarily be another’s peak.

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Bonnell enlightened the audience with her unique business model for EXIT Realty which has four components:

1. With a focus on the “business of real responsive to;

estate,” they find out what is working today and what consumers are most

2. They help form exit strategies for not only consumers but for agents, realtors, brokers and more; 3. They give everyone an opportunity for a vested interest in the company, which leads to better company performance; 4. EXIT Realty has a built-in mentoring and retirement program for its employees.

To conclude the session, both Davies and Bonnell offered advice for women looking to find success in the industry. Davies suggested that you expand your knowledge base by seeking new experiences. By doing so, you will expand your horizons and opportunities. Bonnell advised that you have accurate knowledge from a national, state and street level; consider getting an investor designation; and find your niche where you can fill a need. Areas to focus on include investment, international markets and senior business. Desirée Patno, NAWRB CEO & President, next moderated Small Business Sustainability Care Package with panelists Michelle Hollis, Director, 6th Street Consulting; Laura Hartsgrove Baker, Sales Director, Herbert H. Landy Insurance Agency; and John Moon, District Manager, Community Development, Federal Reserve Bank of San Francisco giving their unique insights into select pillars from NAWRB’s Small Business Sustainability Care Package, including cybersecurity, insurance with crime prevention and employee dishonesty riders and payroll assistance.

Cybersecurity

Michelle Hollis started the conversation of cybersecurity, sharing that consumers and small businesses can protect their resources and data by utilizing their common sense. She recommends

NEXUS CONFERENCE that you have security on your phone when using applications and social media, and installing a mail encryption on your business emails. Taking these simple measures will protect data from being pulled from your phone without your knowledge and keep your information confidential.

Insurance with Crime Prevention and Employee Dishonesty Riders

Laura Hartsgrove Baker shared her knowledge of various insurance options available to small businesses, from general professional liability to crime prevention measures. She explained that instances of employee dishonesty are linked to cybersecurity because they involve a data breach. She advised that small business owners consult an insurance agent who can help them have sufficient coverage for their needs. If your local agent is not well-versed in policies such as crime prevention, then ask them to find the information you need. It is important to remember that there are many resources available to you.

State of Small Business and Performance

John Moon shared data on the current status of small businesses in the United States. The Federal Reserve Bank sets interest rates for monetary policy and oversees financial institutions. Moon reminded the audience that small businesses are the backbone of the economy, which is why we should help them be sustainable. Moon described that small businesses performed weaker in 2016 than in the previous year, in terms of profitability, revenue change and employment change. Regarding small business risk, which looks specifically at profitability, low credit risk and uses of retained earnings, Moon stated that one in three small businesses is at risk; meanwhile, 30 percent are declared healthy. Small business owners are statistically less successful when attempting to access to credit. The reasons that small businesses are denied access include weak business performance, insufficient collateral, low credit score, too much current debt and insufficient credit history. Many small businesses, about 87 percent, rely on personal credit for financing. Despite these struggles, small businesses are optimistic about their future, and Moon shared resources and technical assistance at their disposal. These include non-bank lenders such as Community Development Financial Institutions (CDFIs), the U.S. Small Business Association (SBA) and other governmental sources. Our Contracting Opportunities session continued with speakers Michael Aguillio, SB/DVBE Liaison, Procurement Division, Certification and Outreach, State of California, Department of General Services (DGS); Ann Krishnan, Vice President and Senior Partner, CAK International, LLC; and Pamela SmithCressel, Director, Office of Small Business Utilization, U.S. General Services Administration (GSA). Communicating the value and potential of government contracting for women-owned and small businesses, our expert speakers detailed current opportunities, from relocation services to teaming agreements, and outlined the process of securing

I talked about my passion to

change the purpose of housing; that is really the sum of my career, to make that happen. I’m about to leave this industry to do just that. I’m doing a global property development that’ll really change everything. I think we need to bring this industry into the 21st century, and I have a lot of thoughts on how to do that. Your home helps you make a living. When you look at the trajectory of socioeconomics in this country it’s every man for himself. We’re losing the social safety net and we’re taking away vital things from people. The only way they’re going to survive is to collaborate with each other. When building community, you need to change the way you physically build as well. It sounds like really vague concepts, but I’m trying to make it extremely specific and deliberate. I think when I come out with Digital Ridge, which is the property development I spoke of before, everybody is going to go ‘ah,’ and it’ll change the way that people do things.

Toni Moss

CEO, AmeriCatalyst LLC & EuroCatalyst BV

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NEXUS CONFERENCE half of women by personal experiences of gender disparity. Marcia Davies shared that she was inspired to give other women opportunities she did not have during her career. In a dialogue on how we can ensure that women achieve a seat at the table, the panel each presented their unique perspectives. All of the speakers agreed on the importance of providing a support system for women in the industry, from creating mentorship opportunities to utilizing personal relationships. It is important for women to support one another as allies instead of as competitors. To help one another and form personal connections, women have to make themselves vulnerable and open. As Lorena Fimbres explained, we tend to hide our weaknesses from others when they can be our points of connection. contracts. Aguillio encapsulated the value of hearing directly from experts with direct experience, “Another benefit is to have opportunities to hear panel members who have already gone through some of the things, trials and tribulations that they have, and share their knowledge on how to minimize any negative impact on their businesses by sharing the information that they have to help them move forward.”

Another important theme was the power of groups. Any woman is strong, but women are stronger together. Lynn Bunim stated that there is a power in numbers beyond just one-on-one relationships. A large support system can help provide women with knowledge of available resources and a wide range of opportunities. Moreover, a group of women can extend their outreach in terms of advocacy.

Ann Krishnan, winner of a Governmentwide Acquisition Contract (GWAC) worth $10 billion, had some kinds words about our CEO and President Desirée Patno, “Whenever you have a leader that is this passionate, just stay right there, because it’s like Jesus and his disciples; wherever he went, he gave them so much awesomeness that they couldn’t take it all in. That’s what she’s doing here. I have learned so much from this conference.”

Setbacks are inevitable, but these women continue to be motivated and engaged in their work towards increasing diversity and inclusion in the housing ecosystem. For example, Desirée

Pamela Smith-Cressel expounded on the possibilities of working with the U.S. General Services Administration (GSA), delineating the importance of visiting their website to learn how you can get involved and having your documents and applications in order. Aguillio echoed the advice to visit entities’ website in order to discover the latest and greatest for your business, accentuating the tremendous effect that working with the government can have on a small business. In our second power luncheon, Marcia Davies, MBA COO, moderated an inspirational discussion centered on women’s collaboration with Lynn Bunim, Director, Membership & Special Products, Women Impacting Public Policy (WIPP); Lorena Fimbres, VP & Chief Business Development Officer, StemConnector/Million Women Mentors; Valerie Torelli, Torelli Realty, CEO & Board Member, Women’s President Organization (WPO); Desirée Patno, Enterprising Women Leadership Advisory Board & CEO and President of NAWRB; and Loreen Gilbert, President, WealthWise Financial Services & National Board Member, National Association of Women Business Owners (NAWBO). These phenomenal leaders were motivated to advocate on be-

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“Whenever you have a leader that is

this passionate, just stay right there, because it’s like Jesus & his disciples; wherever he went, he gave them so much awesomeness that they couldn’t take it all in. That’s what she’s [Desirée Patno] doing here. I have learned so much from this conference.

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-Ann Krishnan Patno remains motivated by seeing other women who are enthusiastic to collaborate on projects; Lorena Fimbres keeps herself updated on recent data that reminds her of the work that needs to be done; and Loreen Gilbert is driven to help women across the world who do not have the same opportunities as women in the United States. Lynn Bunim reminded us that persistence and collaboration are key to making a difference, which is why it is important to persevere despite setbacks. Bunim’s mantra to follow is, “She

NEXUS CONFERENCE who stays at the table the longest reaches success.” The collaboration taking place at the NAWRB Nexus Conference was incredible to witness. Thank you to these exceptional women for being an incredible source of information for our attendees and the future women in housing. Strongly displaying our commitment to collaboration and diversity and inclusion, the luncheon also featured NAWRB signing two memorandums of understanding (MOU) with the California Hispanic Chambers of Commerce and Million Women Mentors® (MWM). “Our MOU partners are valuable contributors to and supporters of NAWRB’s mission,” stated Desirée Patno, NAWRB CEO and President. “By increasing collaboration on an inter-industry scale in the housing ecosystem, we are expanding our network, bringing more awareness and strengthening the diversity and inclusion movement. Together we can take decisive action, share best practices and resources, and create true change for the women’s economic growth.” “We’re going to work together for one cause,” said Frank Montes, Chairman of the Board of the California Hispanic Chambers

“Strongly displaying our commitment to collaboration & diversity & inclusion, the luncheon also featured NAWRB signing two memorandums of understanding (MOU) with the California Hispanic Chambers of Commerce & Million Women Mentors (MWM).

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of Commerce, “and that cause is to bring our community up. Homeownership is key to any small business owner. We need to make sure that they feel secure and have a piece of the American dream. That American dream here in California has doubled and tripled in cost, so we need more affordable housing.” “I think professional development is a key feature for how we see we can empower and reach more women to be successful in their careers,” stated Lorena S. Fimbres. “Million Women Mentors believes in the importance of role models and through organizations like NAWRB, we can truly expand our circle of influence which means we expand the number of women that we can reach and support in being very successful. Not only those that are NAWRB Members, but all of the organizations that are somehow related to your members. Again, if you think about the depth and breadth of what we can do by partnering, the success of Million Women Mentors has really been in connecting key organizations that represent successful women and that ultimately collaborate to build synergistic responsibilities.”

Director of MBE Services and Community Outreach, Southern California Minority Supplier Development Council (SCMSDC). “I have been in the field of doing outreach to women business owners, and business owners in general, for many years,” stated Gutierrez about the value of attending industry events. “My experience is that they need to slow down a little bit and take time to go to a conference. There is no shortcut to being at a conference because it puts you in front of many people and it also gives you incredibly valuable information that you would need three months of college to learn. Education is power. Education takes you to the next level.” Resources like the SBA and SCMSDC can strengthen your business foundation with knowledge, connections and opportunities. In fact, the Women-Owned Small Business (WOSB) Program presently awards $19.67 billion in federal small business contracts to women-owned small businesses, and the SBA achieved its 23 percent small business procurement goal for the third year in a row, awarding 24.34 percent ($99.96 billion) of federal contracts to small businesses. All women entrepreneurs and professionals must remember is that they are not alone, and seeking assistance is a precious recourse when you’ve encountered a roadblock. The NAWRB Nexus Conference’s Matchmaking Roundtables allowed attendees to sit down face-to-face with supplier chains and clients specifically searching for women-owned and small businesses. Featuring companies and organiza-

Small Business, Certifications, Access to Capital, New Programs informed attendees on the process of structuring and growing a business while utilizing your resources with speakers Sylvia Gutierrez, Economic Development Specialist and Women’s Business Outreach Representative, SBA; Gloria Gomez Business Opportunity Specialist, 8(a) Business Development Program, SBA Santa Ana District Office; and Marlene Nantell, NAWRB MAGAZINE |

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“I’ve been in D.C. for almost 11

years & sometimes I see these women speaking on specific panels, but they’re never together in one place like they are here.

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-Silvia Rathell

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NEXUS CONFERENCE tions like the FDIC, VRM Mortgage Services, Freddie Mac and DGS, matchmaking showcased the value of developing longstanding relationships. About the possibility of establishing potential business avenues, Sam Tucci, Vice President, Business Operations, U.S. Best Repair Service, Inc., said, “One of the benefits, other than just the content and meeting people, is that we have been able to drum up some business from here, which is nice. We offer our value and have gotten in front of people who are decision-makers… I’m looking forward to some business.” Tomaneci A. Waller-Day, Supplier Diversity Director, Freddie Mac, provided insight on the matchmaking process, “If anything, it’s about our sourcing needs matching with the vendors and then the vendors taking the time to develop their understanding of the corporations. Freddiemac.com/supplier allows you to have some direct information about our supplier diversity program, how to get registered within our group, how to contact my office, as well as to really understand some of the initiatives that we’re doing in the secondary mortgage market.” Day three came to an end as we brought attendees to the table and connected them to potentially-decisive business prospects. When it comes to leveraging your business network, you never know until you ask; what better time to ask than when the agencies offering contracts are in the room? The final day of the NAWRB Nexus Conference was dedicated to the NAWRB Certified Delegate Spokeswoman Program. NAWRB Delegate Spokeswomen are local experts strengthening and expanding a national platform for women’s economic growth. “We have been working hard to stabilize the seas in the advancement of gender equality, to work smarter and bring women’s issues to the forefront with accountability and results,” stated Desirée Patno. “As our spokeswomen give back and mentor other women, they are paving the way for future generations to succeed.” With three NAWRB Certified Delegate Spokeswomen as speakers—Rosalind Booker, Principal Broker/Owner, Arbrook Realty; Vanessa Montañez, Business Consultant, former VP, Mortgage Business Development Manager, East West Bank; and Silvia Rathell, NAWRB Washington, D.C. Government Relations Chairwoman and Rathell Enterprises CEO—we conducted a comprehensive day of NAWRB Certified Delegate Training culminating with our Certified Delegate Test requiring a 100 percent passing score. We are proud to announce Esther Ayuk, MPH, R.Ph, Managing Broker, Bess Realty Professionals and Maria Zendejas, CEO/Realtor, Realty World Golden Era as new Certified Delegate Spokeswomen! “Becoming a NAWRB Certified Delegate Spokeswoman unites me with women who are pursuing their business goals and creating a stronger united voice to help one another succeed,” stated Maria Zendejas.

makers,” Esther Ayuk said. “Education, empowerment, and economic development of women are important cornerstones I believe in. I have witnessed firsthand what it means to be relegated because of gender.” Executive women interested in making a difference in their community utilizing a national platform can email info@nawrb.com to learn more about our upcoming training events. The 2017 NAWRB Nexus Conference: Women’s Collaboration for the Future was tremendous. NAWRB’s expert panelists, with over 40 C-suite, Sr. Executive and Government speakers from numerous industries, delivered actionable solutions and displayed selflessness in sharing their invaluable wisdom to help others succeed. The networking opportunities sparked many promising relationships, especially during our Matchmaking Roundtables connecting attendees to supplier chains and clients. NAWRB exemplified our dedication to industry collaboration through the signing of two MOU’s helping grow our web of influencers to drive the success of diversity and inclusion. The conference also featured the release of NAWRB’s inaugural Women in Housing Ecosystem Report (WHER), which provides expert data analysis of women entrepreneurs’ successes and obstacles across the various industries in the housing ecosystem, addressing the ramifications of workplace gender imbalances on women’s homeownership. The report examines the status of women’s economic growth in the housing ecosystem, evaluating the connection between women’s underrepresentation in senior executive positions, lack of homeownership and poverty. It illustrates the pervasive manner in which these factors intertwine in hindering women’s progress and highlights the power of homeownership as a sanctuary cementing women’s economic foundation and professional success. One of the most poignant statements at the conference came from Silvia Rathell, “I’ve been in D.C. for almost 11 years and sometimes I see these women speaking on specific panels, but they’re never together in one place like they are here.” Thank you to all the amazing speakers, strategic partners, NDILC, NAWRB Committees, boards, staff, vendors and attendees who have given selflessly of their incredibly valuable time, commitment and resources not only for the conference but throughout the years. NAWRB is the Women’s and Small Business Validator: Collaboration, Influence, Access and Opportunities. Entities and individuals interested in partnering with NAWRB can contact the organization at info@NAWRB.com or visit www.NAWRB.com/partnership.

“I decided to become a Certified Delegate Spokeswoman because NAWRB offers a unique platform for me to speak on women’s issues with authority and steadfastness, as well as the opportunity to interface with major industry players and decision

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Chairman and Founder, STEMconnector®/Million Women Mentors® (MWM)

Edie Fraser Edie Fraser has spent her life in the service of equality with a passionate vision for a better tomorrow. Having led national poverty programs and worked to advance women’s gender equality for decades, she has a precise understanding of women’s progress. Discussing her life, Fraser alternates seamlessly between lessons learned in childhood and her biggest professional challenges, detailing her storied career and how the future is developing for women in America. Interview by Desirée Patno

NAWRB: In your opinion, what is the most important suc-

cess women have had in the last 50 years?

Edie Fraser: Successes have been achieved

and we celebrate them, and yes, we want parity. Studies show that it could take as long as 117 years to reach parity in the private sector. Let’s advocate for parity within every government institution, business, profession, organization, and in higher education.

of top business management but only three percent of top corporate leaders are women of color. Similar figures are present on corporate boards, and the situation is worse in Silicon Valley and elsewhere. The numbers should mirror the population. Every study, from EY to Catalyst, shares that companies with three or more women on the board have better financial performance.

Many CEOs are speaking about status and supporting equity; we analyze this in every industry. DeWe are fighting to change the spite the 32 female CEOs on the face of women in politics. Yes, we Fortune 500, the highest proportion of have made progress, but not strong female CEOs in the 63-year history of enough. Women comprise 20 percent the Fortune 500, women are low in number of Congress, 21 percent of the Senate, 19 and many choose to leave the corporate C-suite percent of the House, 24 percent of statewide if they don’t see opportunities for upward mobilioffices, 25 percent of state legislatures, 20 percent ty. Globally, the U.S. remains of mayors in cities with populations over 30,000, and we “We are fighting to change the face significantly behind gender equality leaders. Within the have a long road ahead of us. of women in politics.” largest 150 public companies The truth is that we have over in England, women are ap20,000 women interested in running for office as of winter 2017, and that’s at all levels. proaching 30 percent, and in Norway, France and Sweden, On the political front, because we know that women will women comprise 33 percent of top companies. We know we have such a positive effect, we have exciting news on both are far from our parity goal, and it’s clear that we need womsides of the aisle. Women are running for office and they en of color. The sisterhood for Blacks, Hispanics and Asians want to work together on economic, entrepreneurship and needs to grow. family issues to make a difference. Women have also provIn the insurance industry, although we have 6.1 million women en that they can work together for policy on many levels. employed and are near parity at the entry level, the big disparOne major problem is that women of color face even more ity is women at the top. In fact, a recent study from STEMdifficulty when fighting for their advancement, not only in connector®/Million Women Mentors® (MWM), Women in the political arena but also within companies and institu- Insurance, discovered a 28 percent differential in salaries and tions. It’s interesting that corporate boards are still 80 percent earnings between men and women at the very top. male; yet there is such great opportunity for gender equality in these professional settings. We can attain greater numbers We need a movement in each sphere, from entrepreneurs to for women and women of color when women are 20 percent entire industries, focusing on where the jobs and opportu-

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EDIe FRASeR

nities are. The tech industry offers the most jobs but is the worst sector in terms of gender equality. We must make the industry attractive as almost half the women who go into technology eventually leave the field. In entrepreneurship, we know that women-owned businesses number 11.6 million strong and generate $1.7 trillion in revenue, according to the Census Bureau. We must champion women-owned business as a backbone of our economy.

“I remember my mom saying to me, ‘The thing that I want for you is peace of mind.’”

Often, there are many in underserved communities who don’t have parental support, so we have to build a village around those children and make sure that through organizations, teachers and other institutions, every child has a counselor and a mentoring network to truly build their future. In this way, we can support them in their life dreams.

Currently, 30 percent of college presidents are women; that’s a whopping increase from years past. Additionally, women comprise nearly 57 percent of college students.

NAWRB: What is your proudest accomplishment with

Where there is parity there is equity! If you review every sphere in gender equality, we’ve made progress even though we don’t have parity, in politics, the corporate world and education. Let’s continue to move the economic needle.

of all jobs are in STEM (Science, Technology, Engineering and Math) fields. The advancements that STEM has created in our everyday lives, from computers to healthcare, are astounding. We want to close the gender gap in STEM by opening the pathway for women and girls. Six million jobs are currently vacant in the U.S., with 2 million of them being in the cyber industry. We want to impact careers and jobs overall but particularly for women and girls.

Every time we say we’re making such big headway, we know from history and the process of gender equality that we can do even better across the board. NAWRB: In what fundamental ways can parents encourage

and support their daughters’ interest in STEM fields and career paths that have historically been male-dominated? Edie Fraser: It’s critical that parents get involved, and

teachers and organizations. Mentoring and counseling comes first. We need to understand the courage necessary for girls to enter and pursue STEM fields and careers, and help generate income and achievement. After we learn of a child’s goals in terms of career field and finances, it’s important to encourage parents to discuss with their children

the role of career choice on the economic sustainability and wellbeing of a family.

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STEMconnector® and Million Women Mentors® (MWM)?

Edie Fraser: If you analyze the figures, up to 80 percent

STEM jobs are where pay equity is. STEM jobs pay women 92 cents on the dollar, and in technology-related roles, 96 cents on the dollar. Women need jobs and millions are opening in cyber security, healthcare, and technical fields such as such as welding. Step up to where the jobs are! Million Women Mentors® (MWM) has hit 2.1 million commitments and we’re close to one million fulfillments; this means spending 20 hours a year with a woman or girl. Uplifting these women and girls in the system will have great consequence. We can make a huge difference for America,

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especially the underserved, and we are committed together to ensuring parity across the board. We understand the excitement of this transformation and the importance of giving everybody a chance to participate. Homeownership, as NAWRB advocates, is incredi-

“My mom & dad told me & my siblings that we could do anything we wanted to do. I had five international exchange student experiences by the time I was 20.” bly important, and an achievement that can be made possible for women through gender parity. Owning a home also connects directly to giving back, as it helps tremendously to have that experience, confidence and equity when helping others make their own way. In the future, we want to see everybody talking in “we” and not “I.” None of us do anything alone; we do it with the help of others. We may lead movements, but we do it as a team. The first goal is to get everyone thinking about what we can do together. The second is reaching gender parity in every one of the spheres mentioned. We want to see great jobs for everyone, an inclusive, respectful society, and we want bipartisanship to work. We believe that women can get this done.

EDIe FRASeR

why I came to Washington. Last but not least, Maya Angelou, for what she really gave us in terms of inspiration. I will add Eleanor Roosevelt as well. My mom and dad told me and my siblings that we could do anything we wanted to do. I had five international exchange student experiences by the time I was 20. My mom was a strong businesswoman, with my dad they were a partnership, but she was also a terrific cook and head of the Girl Scouts. My dad had a twinkle in his eye and was a great entrepreneur. They taught me valuable lessons and have always been an inspiration for me. I remember my mom saying to me, “The thing that I want for you is peace of mind.” My dad wanted the same thing. It was support, a support system and encouragement that set the foundation for my life. They were always there when I needed them. In those days, I don’t think young people were prepared to know what they wanted professionally. Today, young generations are much better equipped. My parents taught me the power of knowing what you can be. My husband is just rock solid. He’s the epitome of humility and graciousness. He gives back in such a quiet way. He works on three charities now but nobody knows what he does. He’s the best person I’ve ever met in terms of a human

NAWRB: What goals do you hope to achieve in the future? Edie Fraser: Engagement! I pray we get more positive not

negative, and continue to support solutions for this country to push forward and not fall back. I’d like to continue to give back through philanthropy. I hope I can be married to my husband for another 25 years before we die, and I want to treasure my friendships and relationships. I think we can do it all. These are things that we hope take place. We’re in a toxic state right now in this country and we’re focusing on attacks and negativity. What we have to do, if we’re united and thinking forward, is fixate on all that can be done. NAWRB: Who has inspired you most throughout your life? Edie Fraser: My mom and dad, who were entrepreneurs

and terrific. They gave back tremendously to the community. My husband, just because he’s the epitome of integrity and giving in a very quiet way. President Kennedy, who is NAWRB MAGAZINE |

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EDIe FRASeR said so many inspirational things. I was lucky to spend some time with her in my life, and I’ve read all her books and interviews. I try to live by what she says. Eleanor Roosevelt is another great inspiration on my list. Just remember what she said, “The future belongs to those who believe in the beauty of their dreams.” NAWRB: How can companies best support the advancement of their female employees? Why does the American workplace continue struggling to increase female representation at executive company levels? Edie Fraser: We need insightful executives who commit

being. He’s been supportive and stood behind me, but he’s also given me cautions. When John F. Kennedy gave his famous speech about asking what you can do for your country I was in university. Right there and then I said I wanted to work for the Peace Corps. I spent five years on the Peace Corps staff as a national desk officer for Africa.

“I went to work for the national poverty program, because the need was so great and they needed young people to be of service. That need continues today.”

I did another five years during which I went to inner city ghettos, migrant camps, Appalachia, even spending 52 weeks in a different area of poverty in America trying to analyze our capacity to solve problems. This took place just before I became a business owner and it gave me an understanding of what this country was facing, as well as the world. One out of every seven children in the U.S. doesn’t have enough to eat on any given day, we have people living out of their cars, and women are experiencing poverty levels at an alarming rate. We have to address these problems and help people reach economic stability and sustainability. Maya Angelou has always been so important to me. I’ve always been committed to diversity and people of color. I dreamed when I was little that everybody was equal, and therefore I don’t want to see division. Maya has done and

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to making the difference all the way up at the top and ask for accountability. Companies need more women in senior management or at the top levels. The new McKinsey report, Women in the Workplace, shows that only 20 percent of the C-suite is comprised by women, and only three percent by women of color, as referenced above. The report also analyzed what each company can do to support women’s advancement as well as the happiness quotient among women of color. It takes top leadership in the private sector to embrace women. Companies must be accountable in their gender and diversity advancement throughout the talent process and diversity programs. There’s a new movement in gender equality: the goals are set for diversity, inclusion and a new word, engagement. Vice Presidents are now becoming “Head of Engagement” at companies. Part of this is to not only move in but also move up the workforce and make sure everyone feels fulfilled. Companies should establish plans, overall goals, and especially have both a mentor and sponsor program. Sponsorship means we’re going to advocate for you and your upward mobility, and plan accordingly to increase your responsibility. The CEO and C-suite must set the tone and serve as role models if they truly want the best and brightest to work for them. We are so proud to work with companies driving gender equality and diversity leadership. We also need to salute companies, entities and organizations doing the right things. What we have to keep showcasing, and that’s why STEMconnector® publishes our leaders lists, is what we have in terms of role models and change.

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NAWRB: How did your time with the Peace Corps help

shape your life? What led to you beginning your career with this organization? Edie Fraser: I’ve never met more mission-driven people

whose purpose was to bring skills and love to the globe. In those days, most people who worked for the Peace Corps were presidents of their student bodies and the staff commitment was evident everywhere. There were so many passionate leaders wanting to make a difference.

EDIe FRASeR

Edie Fraser: A mentor makes a difference for women in

staying on a strong pathway to what they want professionally and personally. To have that kind of counseling and support is invaluable. There’s study after study showing you’re four or five times more likely to succeed if you’ve had a mentor. We see that in the corporate world because when you have a sponsor, your chance of succeeding increases by about seven times. Having a mentor or a sponsor helps women get on the success pathway.

Earlier in my career, I did a study on who was going into the Peace Corps compared to the poverty program, and student leaders in those days were all going into the Peace Corps. That’s one of the reasons, after Martin Luther King, Jr. and Bobby Kennedy were shot, that I went to work for the national poverty program, because the need was so great and they needed young people to be of service. That need continues today. Today, I think we’re seeing that people who truly care about social impact are making a difference in the commitment of younger generations. Find a cause, whatever it is. NAWRB: What is something most people don’t know about

you that they would be surprised to find out?

Edie Fraser: Two things. One, that I failed. I think those

that have made it have all failed, at least once. We just keep going with a persistence, desire, and hopefully having learned from our failures. I failed at one business and one nonprofit that I set up, but I succeeded in many more. I was able to sell two companies in my life. I learned that you always need outside counselors to help you through the process. I use my lawyer and my accountant to sit in with me once a month. It’s really important to learn you can fail, get up, and keep going. It’s about focusing on the next positive action steps and being persistent while leveraging relationships. Now, in this country, everyone is coming out with personal stories. Many of us, I would purport most women, have probably been victims of sexual assault or harassment. I’ve never told anybody, but it happened to me four different times. One instance was when I was young in Washington, D.C.; he was a Congressman. Then two were bosses that I had, one boss just showed up at my apartment on a Saturday morning. We have to stand strong and resolute. NAWRB: Why is it crucial for women to have a mentor?

Are there respective benefits to being mentored by either a woman or a man?

“There’s study after study showing you’re four or five times more likely to succeed if you’ve had a mentor.” STEMconnector® did a study of 376,000 children and their college options, finding that 94 percent of high school girls feel they’re not getting enough mentoring. It shows you that we have such an opportunity, which is why we started Million Women Mentors® (MWM). We also need a coed call to action; we need a sisterhood and a brotherhood to get engaged. It’s so much more helpful to have a mentor that you directly identify with in gaining a role model, but we’ll take anything we can get. The important thing is to make a difference. NAWRB: What is the biggest personal development chal-

lenge you’ve encountered throughout your life and how did you overcome it? NAWRB MAGAZINE |

sheCENTER(FOLD)

EDIe FRASeR

Edie Fraser: It’s a challenge accepting that we’re not all as

smart as we think we are. Therefore, we must identify what we need. I need to read and devour all kinds of information; I feel that’s part of learning every day. I read five newspapers and five magazines every day, maybe not thoroughly, but it is so important to always get knowledge. Never stop learning. I had Epstein Barr disease for about two years. I learned how important health is because it can set us all back. I think social media is fun. What young people have taught us is really cool. I’ve just taken to Twitter and blogging, only using it for professional services and not personally. I think it’s neat. I encourage older generations to get better at what we can do because it is the way of today and tomorrow. NAWRB: Throughout your career you have been a pioneer,

entering and succeeding at the highest levels in various positions and organizations. What motivates you, and how do you remain steadfast in your work?

Edie Fraser: I think if you’ve got a passion and goals, you

just stay there. We’ve got so far to go, but we’re going to get to that mountain top and celebrate professionally and

“It’s important to make money, so you can give back financially as well. If you really want to contribute, make sure you’re economically stable.” personally. I’m getting very old, but I still want to make a difference wherever I can make a contribution. I can do my part with teams that have the same mission and pursuits to make an impact. I really took a passion to supporting women senators and those who want to make a difference, because everybody has to make a choice in how they’re going to help. I was there when Senator Debbie Stabenow set up the Women’s Senate Network in 2001. I said, “Oh, this is so important. If I can just focus on electing and supporting the current and new senators, we can make a difference.” Everybody has to make a choice of what they can do for impact. NAWRB: How did having entrepreneurial parents influence

your career outlook? What important business lessons did you learn from your parents early on?

Edie Fraser: I always saw that you have to really follow

your goals. I got the award for selling the most Girl Scouts

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cookies and magazines, and I was president of my high school. I think everything is about doing something and doing it well. One teacher in high school told me it was more important to be respected than liked. I struggled to understand this, but I now know that balancing the two is incredibly important. Million Women Mentors® (MWM) is doing up to 200 events a year. We just did Million Women Mentors® (MWM) Maryland last Monday and the Girl Scouts were there with the Lieutenant Governor and Secretary of Labor. They had a solar-powered cookie booth! It all comes back and we keep encouraging everyone. NAWRB: I don’t think I’ve ever seen a picture of you when

you weren’t smiling! How important is it to feel rewarded in your career? What advice would you give to women in positions that look great on paper but don’t leave them feeling rewarded at the end of the day? Edie Fraser: You’ve got to have a passion, persistence and

desire for, basically, hard work and authenticity. Regarding smiling, people like positive people. People don’t like negative people. It’s like Maya Angelou said, get rid of the naysayers. Some of us have a hard time with it, I certainly have, but you have to try to associate yourself with positive, happy people and really work on making other people happy. NAWRB: What is the importance and meaning of philan-

thropy to you? In what ways that you did not anticipate has giving back changed your life?

Edie Fraser: When you serve, it is heartening. I’m so

appreciative of all the experiences I have had in philanthropy. I was on the board of Big Brothers Big Sisters for 27 years here in Washington, D.C., and when you mentor, it’s amazing to think about what you learned from these terrific experiences. I’ve had 200 mentees in my life, and interns upon interns. You think about what you can do, it’s more precious than anything. It ’s impor tant to make money, so you can give back financially as well. If you really want to contribute, make sure you’re economically stable. When I wrote the book with

enabled me to impact public policy and drive change. If you put that all together, it’s feeling a sense of real gratitude and cherishing my relationships and those who have helped me on my journey. I want the world to love one another.

“...people like positive people. People don’t like negative people.” Robyn Spizman, Do Your Giving While You Are Living, in which we picked 65 case studies of organized leaders and kicked it off in Times Square, I learned how much we can do if we ask people, “What do you want to do to give while you live?” NAWRB: What life did you picture for yourself as a young girl, and how does your life and career compare to that vision? Edie Fraser: I think in our day, most of us didn’t have a vi-

sion, even when we were in college, of what we wanted to be. Youths today seem much more focused on career pathways than we were. I feel grateful I had a passion and a commitment that complemented my entrepreneurial traits and

Thank you for all that NAWRB does to help women and women entrepreneurs on their path to success. We are doing so much and what we need to continue doing is build together. We really have a new girls network. Desirée, I love your passion and commitment to entrepreneurship, impacting public policy and challenging the system. You are special. Thank you for affording me this opportunity. I’m so happy we support one another in our lifetime journeys.

“We really have a new girls network. Desirée, I love your passion & commitment to entrepreneurship, impacting public policy & challenging the system. You are special.”

Financial st abilit y since 1933

Federal Deposit Insurance Corporation

www.fdic.gov

Each depositor insured to at least $250,000

Contact us: The Office of Minority and Women Inclusion (OMWI) at MWOBOutreach@fdic.gov or 1-877-ASK-FDIC (1-877-275-3342)

Design: FDIC/DOA/CSB/Design and Printing Unit

The FDIC recognizes the importance of contributions made by diverse communities in its workforce and business activities. As a leader among government agencies, we are committed to diversity and inclusion and providing opportunities for employment, contracting, investments, and sharing our expertise in financial education. As we continue to strengthen stability and public confidence in the nation’s financial system, we are leveraging the talents of our workforce and small-, minority-, women-, LGBT-, and veteran-owned businesses to create business value and achieve a work environment of involvement, respect, and connection.

2017 Roaring Thirty Award Winners The NAWRB Roaring Thirty Awards honor the women leaders in the housing ecosystem making a difference with a seat at the table. These are trailblazers succeeding through unprecedented obstacles and demonstrating women’s power as influencers in business. Join us as we honor these incredible women during our Roaring Thirty Awards Gala on July 17th, 2017 in Costa Mesa, CA at our 4th Annual NAWRB Nexus Conference: Women’s Collaboration for the Future. Our attire theme for this year’s Roaring Thirty Awards Gala is “Who is Your Female Hero?”

The Innovator: This woman is innovating the way of conducting business and has forged her own path as an entrepreneur. The Marketer: This leading woman illustrates the power of marketing and branding in showcasing the quality of your business. The only thing more impressive than the way she advertises her business is the company itself. The Prodigy: This award goes to an upand-comer; an entrepreneur whose success is only a matter of time. Showing a way of doing business different from the established players, this woman proves that there is always room for ingenuity. The Revolutionary: This woman is a testament to women’s ability to be capable, successful leaders. Tearing down roadblocks, this awardee is changing the business world for women. The Influencer: A groundbreaker, like Coco Chanel in the world of fashion, this woman is disproving misguided stereotypes and changing the way entrepreneurial women are perceived. The Producer: If we were to describe this woman in one word, it would be persever-

| NAWRB MAGAZINE

ance. No broken economy or fluctuating market can keep this woman from success; she creates growth regardless of the circumstances.

The Trailblazer: This is a woman succeeding in her competitive industry, embodying women’s power and paving the way for tomorrow’s women entrepreneurs.

The Visionary: This is a woman ahead of her time who not only solves today’s problems, but addresses the issues of tomorrow as well. She turns negatives into positives and doesn’t let the absence of a well-traveled path keep her from making her own way.

The Unsung Hero: Despite not always receiving credit or accolades, the company could not function without this woman. A behind-the-scenes professional, she is the reliable foundation on which day-to-day business operates.

The Philanthropist: This woman is dedicated to helping others, successfully balancing her professional and personal lives in order to do so. From donating her time to her hard-earned money, she defines the meaning of giving back to your community. The Mentor: Realizing the importance of leading by example, this woman provides mentorship avenues for the generations of tomorrow to follow in her confident footsteps. The Advocate: This award goes to a woman who is concerned just as much about the professional welfare of others as her own. A steadfast advocate for the rights and opportunities of female entrepreneurs, she remains a strong voice in the fight for equality.

The Veteran: This award recognizes a woman who has succeeded through the decades, masterfully adapting to the changing business world and exemplifying her role as a leader. The Team Player: From the boardroom to the front lines and everywhere in between, this woman can be relied upon to thrive and participate at all company levels. The Renaissance Woman: This award goes to a woman who enjoys multiple successful careers. Either in the same industry or separate fields, she can do it all.

AWARD WINNERS

The Team Player

The Unsung Hero

SVP, Foreclosure & Bankruptcy, Selene Finance

Vice President of Market Development, Sindeo

Gina Gray The Team Player Leading Lady

Zeeda Daniele

Community Lending and Strategic Partnerships National Manager, New American Funding

The Prodigy

Aynsley Armbrust Vice President, Stepp Commercial

The Prodigy Leading Lady

Bia Ferla

Alice Pak

The Unsung Hero Leading Lady

Ann Murad

Associate, RE/MAX Elite Associates

The Visionary

Marcia Griffin Founder and President, HomeFree-USA

The Visionary Leading Lady

Letitia Berbaum

LPL Financial Advisor, WealthWise Financial Services

Real Estate Partner, Keller Williams

The Trailblazer

The Philanthropist

Alicia Blackwood Sales Manager, Summit Funding

The Philanthropist Leading Lady

Alexis Johnson

Patricia Arvielo President and Co-Founder, New American Funding

The Trailblazer Leading Lady

Marty Rodriguez

Broker Associate, Century 21 Marty Rodriguez

REALTOR, Realty One Group Northwest

The Revolutionary The Advocate

Maria Zywiciel President, NAHREP Consulting Services

The Advocate Leading Lady

Sandy Flores Broker/Owner, Real Estate On Demand

Lora Helt

Vice President, Enterprise Sales and Business Development, Altisource Portfolio Solutions

The Revolutionary Leading Lady

Maria Zendejas

CEO/Realtor, Realty World Golden Era NAWRB MAGAZINE |

AWARD WINNERS

The Influencer

Sandra Williams President and Co-Founder, Capital Direct Funding

The Mentor

Amy Rio

Broker/Owner, Executive Real Estate

The Influencer Leading Lady

Lani Furrows

Area Manager, Caliber Home Loans

The Mentor Leading Lady

Belen Z. Escamilla Realtor, Realty World Golden Era

The Producer

Jill Eber

Broker Associate, Coldwell Banker

The Producer Leading Lady

Josie Andrade

Realtor / Co-owner, Berkshire Hathaway HomeServices CP

The Veteran

Kimberly R. Stepp Principal, Stepp Commercial

The Veteran Leading Lady

Bobbie Holt

Broker/Owner, Sea Turtle Real Estate, LLC

The Marketer

Nikki Groff

Chief Marketing Officer, Wallick and Volk

The Marketer Leading Lady

Donna Dagley

Vice President Branch Manager, Coldwell Banker United

The Innovator

Chantay Bridges

Coach, Realtor, Speaker & Writer, Real Estate Professionals World Enterprise Marketing

The Innovator Leading Lady

Rosalind Booker

Principal Broker/Owner, Arbrook Realty

The Renaissance Woman

Gwen Muse-Evans President & CEO, GME Enterprises

The Renaissance Woman Leading Lady

Alicia Branstetter

Vice President of Marketing, Pendo

“I met some great people and made some new friends, so it’s not just about business. It’s about empowerment and encouraging women. We always have something in common no matter what area of the business you are in. We all have a history—we all have a story to tell.”

Bia Ferla

Real Estate Partner, Keller Williams Realty 48

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NAWRB

Third-party Women-Owned Business Certification Specializing in the Housing Ecosystem

Why Invest in Women-Owned Business Certification? 1. Benefits of being certified: • Give your business an edge in the contract bidding process • Maximize your appeal to companies searching for diverse business segments • Highlight your technical expertise and experience while providing exposure to the industry and validating your business • Cement your presence in the diversity and inclusion (D&I) space and much more

2. Requirements for Certification: • The business must be 51 percent or more women-owned, controlled, operated and managed • The women business owner must be a U.S. citizen or legal resident alien • Technical expertise in the housing ecosystem

3. Process of Certification:

1. Application available online at NAWRB.com 2. Submit completed hard copy application with supporting documentation, sworn affidavit and application processing fee in a 3-ring binder 3. Review of application packet by certification staff 4. Follow up with applicant to obtain any additional materials necessary 5. Committee and Board Review 6. Certification can take up to 45 days upon complete application

4. Why Certify with NAWRB: NAWRB is the only third-party, industry-specific certifier of Women-Owned Business (WOB) and Minority Women-Owned Business (MWOB) certifications specializing in the housing ecosystem.

Take advantage of the benefits of being certified as a Women-Owned Business today.

800.337.3996

To obtain your application: visit www.NAWRB.com

certification@NAWRB.com

By Zeeda Daniele

Nonprofit Counseling:

Protecting and Preserving a Vital Service to American Homeowners and the Finance Community

The past decade has taught us a great deal about housing

loss and preservation. Many of us were personally affected, or know someone affected, by the 2007-08 economic downturn period our country experienced. There have been several lessons learned. Most of all, we learned that too many U.S residents have too much debt and lack the necessary reserves to weather the slightest bump in their financial lives. History will argue about what went wrong and who to blame. There were lots of mistakes but there were several good lessons. One was the reminder of the value and need for nonprofit housing advocates, educators and counselors. We learned that homeowners and homebuyers who took advantage of homeownership, credit and financial literacy counseling fared far better during the housing and economic crisis and avoided foreclosure and delinquency more than homeowners who did not. We learned that pre-purchase education, credit and budgeting courses prevented many homebuyers from buying more than they could afford and taught them to avoid the pitfalls of over leveraging their home and excessive debt. More importantly, when an educated homebuyer got into trouble, they frequently picked up the phone and asked a nonprofit counselor for help. Homeowners weren’t the only ones calling. The mortgage industry was unprepared to respond to the deluge of customers calling for help and turned to the nonprofit community for solutions and sup-

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port. The relationship between the mortgage lending and nonprofit communities can sometimes be delicate. On one hand, you have the nonprofit wanting fair, honest, affordable and equitable mortgage solutions and housing opportunities, particularly in underserved, minority and low-income neighborhoods. The lending community shared similar beliefs, but they also believed regulations may have gone too far and that they were doing more than their fair share, while managing risk and protecting the interest of their investors. At times, the lending community considered the nonprofit as a part of a regulatory mandate for doing business rather than a valued partner. In the early 2000s, things seemed too good tofail. Lenders and prospective buyers were asking why education was necessary. Why spend 8 hours of time with a housing counselor when all they were doing was making the biggest investment of their lives? We were all “grown folks” with the right to decide how much home was affordable and how much debt we could sustain, right? By 2007, we realized the answer was “maybe,” when thousands of homeowners ran to the nonprofit counseling community for help. The lending community was struggling under the weight of unprecedented stock losses, and increasing Real Estate Owned inventory led them to staff up default and asset management departments while simultaneously trying to find a solution that met the demands of shareholders and addressed the consumer and political outcry for options to keep people in their homes.

NONPROFIT COUNSELING Most lenders quickly realized they were in over their heads, that standard default and collection methods weren’t working, and that third-party, mission-driven consumer advocacy was needed to help their mortgage holders manage the maze known as a modification, short sale or deed in lieu process. Mortgage companies needed the sometimes annoying and preachy nonprofit counseling community, and the nonprofit community delivered. At the height of the crisis, it wasn’t unusual for a counselor to work 10 to 12 hours a day, seven days a week. Many collapsed under the weight of becoming too close to the client, the mounds of paperwork and dozens of resubmissions, for too many no’s before finally getting a yes.

a dramatic reduction in grants and resources dedicated to housing counseling and financial literacy because the economy is believed to have recovered. Also, there’s a newfound reliance on technology and a belief that face-to-face counseling has gone the way of the landline phone. I don’t mean to condemn technology, but during the crisis, homeowners demanded “live contact” and would drive hundreds of miles for “eye” contact. Should there be any hiccup in the housing recovery, it’s my bet that consumers will use their smart technology to find a “live” counselor in their community.

“Now’s the time for the real

So, how do we move forward and embrace change while staying mindful of the past and our proclivity for short term memory? Now’s the time for the real estate and mortgage community to take a new look at how we engage and support the nonprofit counseling community.

Let’s not forget that nonprofits estate & mortgage community were often up against the pop-up to take a new look at how we business that branded themselves as debt relief or mortgage solution engage & support the nonprofit experts for a hefty price, which freLet’s encourage counseling options counseling community.” quently abandoned unsuspecting for every borrower regardless of and frightened homeowners leaving the nonprofit coun- product, down payment or borrower income, and promote loselor to step in at the last minute. We’ll leave this topic for cal counseling agencies to go beyond the 800-number referral. another time. Embrace down payment assistance programs and encourDuring the crisis, billions of funds were dedicated to fore- age sellers to look at buyers using down payment assistance closure prevention and programs like HAMP, HARP and programs like any other buyer obtaining a mortgage. NSP. Many assumed there was a windfall of money being made by nonprofits. This was true for a few, but most non- Create innovative business models and opportunities that alprofits used the proceeds to increase staff to help struggling low for greater compensation to the nonprofit organization. homeowners and revive neighborhoods, often at a loss. Like numerous American businesses, nonprofits were forced to Make counseling education before and after homeownership reduce employee salaries to keep their doors open, while the standard for sustainable and long-term affordable mortrallying staff to work harder. Several nonprofit housing or- gage solutions; not as a regulatory mandate, but as a part of a ganizations buckled under the weight of the crisis and are sound business practice where both nonprofit and for-profit no longer around. Those that are still here can tell you sto- businesses thrive and grow and the homeowner wins. ries of the internal struggles to balance their commitment to the mission and the needs of American homeowners Finally, let’s stop debating the necessity of housing and fiagainst the work-life balance of their staff. In short, the nancial education. nonprofit community helped preserve homeownership for millions of homeowners. Without them the recovery wouldn’t have been possible. They proved themselves to be By Zeeda Daniele, a formidable and resilient business partner. Fast forward to 2017, mortgage delinquencies are at historical lows, home values are up, demand for loosening of mortgage credit standards is increasing and the nonprofit housing counseling community that stood on the frontline has slowly become the “as needed only” partner, experiencing

Community Lending & Strategic Partnerships National Manager at New American Funding

NAWRB MAGAZINE |

dened with multiple chronic disease, more than 5 million Americans are living with Alzheimer’s disease and countless family members spend their days serving as unpaid caregivers. The most expensive and at risk population for the health care system to treat are the physically and cognitively impaired. We need to rethink how to best deliver care for this growing segment of the population.

Driving Collaboration

across the Health Care Continuum

We all have those moments when our careers and personal

lives converge. As a business leader at the largest health care real estate investment trust (REIT), I focus on investment projects in collaboration with senior living communities, health systems and medical groups to create the real estate infrastructure needed to deliver care for a growing number of aging Americans. As a wife, mother, sister and daughter, I also think about what my parents, aging relatives and even my future 80-year-old self will need when it comes 46 to living well as we age.

Consider that, in many cases, the frail elderly and people with dementia are living in settings that put them at risk. A large two-story, suburban house is filled with potential health hazards and risks. Any resulting injuries will be costly for a traditional hospital to manage, especially considering the limited number of days for which they will be reimbursed. Compounding this issue, some health systems today have an antiquated infrastructure that does not support modern technologies, such as a reliable Wi-Fi signal. Furthermore, the investment required for such upgrades is enormous. Old real estate is a burden to providers and becomes an obstacle to progress. Investment in health care infrastructure is allowing us to re-imagine and fund the evolution of lower cost, higher impact health care delivery models. Acute and senior care providers will need to work together, and real estate can be a bridge in that effort.

“...the number of Americans age 65 and older is projected to more than double from million today to over 98 million by 2060.”

The growth of the aging population is the most significant demographic trend impacting the U.S. According to the Population Reference Bureau, the number of Americans age 65 and older is projected to more than double from 46 million today to over 98 million by 2060. In addition, the number of people age 85 and older is projected to more than triple from 6 million today to nearly 20 million by 2060.

This increase in life expectancy is accompanied by an increased prevalence of chronic conditions, including dementia. According to the CDC, in the United States alone, more than a quarter of older Americans are bur-

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Take the “Medical Mile” in Voorhees, NJ, an affluent suburb of Philadelphia. Welltower and three of its partners came together to build a state-ofthe-art, collaborative model of health care delivery comprised of a senior living community, a large non-profit health care system and a post-acute rehabilitation facility. The Medical Mile benefits patients, our three partners and the community as a whole by providing easily accessible, state-of-the-art medical facilities across the continuum. These distinct providers agreed to collaborate with each other to achieve better transitions of care. A resident living in the senior living community can have a knee replacement at the outpatient medical facility and then travel half a mile down the road to receive excellent post-acute care—

HEALTH CARE avoiding acute care settings altogether and improving patient care.

living and memory care community in the heart of Manhattan, which will be managed by Sunrise Senior living.

Another recent development in health care builds on the trend of seniors wishing to age in cities. Urban centers with a high quality of life are experiencing double-digit growth of the aging population. According to New York Cityâ&#x20AC;&#x2122;s Department for the Aging Changes in the Elderly Population of New York City 2000 to 2010, the population over 60 in New York City increased by more than 12 percent, or six times faster than the cityâ&#x20AC;&#x2122;s total population growth. In Manhattan, the growth rate of the cityâ&#x20AC;&#x2122;s 60-plus population was 20 percent.

I am fortunate to have the opportunity to help shape the future of health care. It is incredibly energizing to bring partners, ideas and capital together to create positive change, especially when it benefits our senior population. As a female real estate executive, I take pride in the work we do at Welltower, where we are advancing both commercial and social objectives. The satisfaction that results brings balance to my work, and this adds to my personal life.

Despite the incredible population growth, Manhattan is one of many vastly underserved locations when it comes to quality senior care: its availability of assisted living facilities is five times below the national average and there are fewer than 75 licensed memory care beds on the island. This is why Welltower, in partnership with Hines, is building an assisted

Mercedes Kerr

Executive Vice President Business & Relationship Management Welltower Inc.

Women’s Advancement in Real Estate: An Interview with Sara Sutachan

Vice President of Industry Relations and Strategic Initiatives, California Association of REALTORS®

What was the inspiration behind WomanUP!? What motivated you to become involved in the women’s movement? I’ve actually always been a feminist. My mom is a single mom— my dad has always been around—but my mom was a really strong independent woman and she’s my role model. I came to work for the California Association of Realtors® (CAR) and had another amazing role model in Leslie Appleton-Young. I’ve always been attracted to follow strong women, and read books and articles about the women’s movement and the gender gap. In my role at CAR, I oversee the industry and broker relations, and part of that is interacting and building relationships with the brokerage community and meeting with them on a regular basis. As I met with CEOs and some of the largest brokerage firms in California, I always wanted a balanced room. What I found was that I was hard-pressed to find that balance because the people who led the larger brokerage firms tended to be male.

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I then called my friend Steve Murray who does the Real Trends 500 List, the top 500 firms in the nation. I asked, “What does this look like for you? Which firms are male-led and female-led?” His team did the research for us as well and what they found in 2011 was, 26 percent of the top 500 firms were female-led, but by 2015, that had not changed. That was infuriating. What we then did was merge Steve Murray’s data, focusing specifically on California, with our data to really look at the top 100 firms based on market share and agent count in order to rank them according to size. I counted the top 100 firms in California myself and found 14 women. If that is not a gap in brokerage leadership, I don’t know what is. That led me to say to Leslie, “This is a problem. We have the data. I want to understand why; how it’s 2017 and we still have this problem.” I also wanted to create a collaborative, safe space and community. I’d been reading all these books on women’s empowerment and women in leadership, including “Own It” by Sallie Krawcheck and “Lean In” by Sheryl Sandberg, and what resonated with me is that women need to support other women, and men, too. You need advocates on your side.

“I think the common theme among women is that we’re super women, we have to do it all ourselves...”

I’d been noticing this, and even if it wasn’t a large firm, I would make sure women sat at the table. I thought to myself, “This is crazy. We should do something about this.” I couldn’t really drive it home until I got a call from Gretchen Pearson; she was going to speak at a women’s event and said, “I want to know data. Do you have any data on women leaders?” We really didn’t at that point. I had my own personal experience with not finding those women on the rosters, so then we dug into the data. I had my staff look at the largest brokerage firms in California and Google which leaderswere men and which were women. We found that 36 percent of firms were

either run by women or had women at the C-level or in management at the top California brokerage firms with over 100 agents. We analyzed a list of approximately 200 of these firms.

I think the common theme among women is that we’re super women, we have to do it all ourselves, be perfect, and sit and wait our turn. If we can change that in any way by creating this supportive community, highlighting the role models that have

WOMANUP!

done it, and having those women who made it commit to helping other women take the next step in their careers; that’s what the CAR’s Women’s Initiative is all about. We did a survey of about 1,500 CAR members and asked a series of demographic questions. Fifty-seven percent of our members are women, according to this survey, and when we asked what their role was, only 16 percent of all women said they were broker-owners. We went at this with a strong look at the data that was available: the survey data, brokerage data, and we wanted to couple this with some qualitative data as well. We reached out to 25 female broker-owner in California to do additional interviews. This year was the first step and next year we’re going to conduct more interviews. We want to find more women role models and leaders to interview, and highlight their expertise and how other women can get in contact with them. I feel that a lot of this year was about the “Why?” and the next step is about the “How?” How can we help? How do we create this community? How do we help women reach out to other women? That’s really our goal. It does start with the data; then we have to deliver the tools. NAWRB is proud to have been part of the C.A.R. WomanUP!™ Conference; the overarching momentum present in the room was compelling. What is the value and necessity of events dedicated to equipping women with tools for professional success?

You provided incredible co-panelists that had been realtors for over 50 years and we were able to tell our stories as part of the Overcoming Adversity: What Doesn’t Kill You…Makes you stronger session at the conference. What advice would you like to give to our readers on this topic? There’s a negative stigma with vulnerability. Brene Brown wrote a book on this topic titled, “Daring Greatly,” which addresses her work and allowing yourself to be vulnerable. I think what the Overcoming Diversity...What Doesn’t Kill You Makes You Stronger Panel at the CAR WomanUP! Conference did was give a stage to three amazing women to share their story, their own personal story. It allowed them to be vulnerable; it was so powerful because it created a camaraderie in the room. What I’ve known and learned along the way is that I have my own personal story that affects me, and everybody has that. Everybody has their own challenges they’re going through and it’s so nice to feel that you’re not alone. How can organizations and individuals increase their involvement in movements like WomanUP!? One of the things that the WomanUP! Conference created was a heightened awareness that a lot of time men, and even women, don’t even notice until somebody brings it up. After that event, I got a Facebook message that was a picture of eight men on a top producer panel for some event. I reached out to that

They are extremely important. Some of the 57 percent female CAR Members may have had an experience where they had an opportunity to step up on their career, maybe they lacked the confidence, thought they couldn’t do it, or didn’t want to. We don’t know the reasons, but what we want to provide is a place where they can ask questions, find their tribe and gain confidence. That’s what it’s all about. One of the highlights from the WomanUP! Conference was when BerniceLedbetter, a professor at the Pepperdine Center for Women in Leadership, identified confidence as an important skill and assured the audience that if they step out and act as if, their confidence would catch up. I think a lot of us, me included, sometimes lack that confidence. That was so powerful to me. What these events are about is confidence, they are the building blocks helping you feel confident to take the next step. It goes back to my prior comment. We shouldn’t feel the need to be everything to everybody, we shouldn’t have to be superwoman. We are mothers, family members, wives, widows and we need support. That’s okay. The negative stigma around needing support is unacceptable. Men have had wives for years and years, and that’s okay, but women can’t have that support? We want to change that perception.

NAWRB MAGAZINE |

WOMANUP!

organization and said, “Surely you have women who can fit that mold.” It wasn’t that they considered women and wanted it to be all men, they just weren’t thinking. They were asleep at the wheel, it wasn’t on their radar, so I put it on their radar. I think what all organizations should do is have balanced panels, balanced rooms, and ask women to be part of their board of directors. Organizations must have that representation because they need diverse voices at the table and on stage. If you’re having an event and have all male speakers, redo that event. If you need to reach out to me, I’ll find women for you. There is a time and a place to have female-dominated panels, like at the 2017 NAWRB Nexus Conference. It’s purposeful. Let’s say 57 percent of your membership base are women, and you have an event for your entire membership with all male speakers, you have a problem. The stage needs to look like your audience. This not only relates to gender, but also to ethnic background and everything else. What would you like to see next for WomanUP!? Do you have a particular goal or achievement on the horizon? What I would like to see next for WomanUP! is to give more time for interaction. We needed to set the stage and tell the “Why?” Now it’s time to hear the voices from the room. Opening up to more interaction and networking opportunities is key to building relationships. Bottom line, what I would like to see is WomanUP! become broader and have ripple effects throughout the entire industry. I want people to start to listen, realize that there is a gap, and become aware of the people they invite to their panels and speaking events. This is not going to go away and we’re not going to let it go away. If we can make any impact whatsoever, I’d love to see the gap diminish. We’re planning to expand the WomanUP! Conference to two days. The first day can have a section devoted to networking. We want to have the audience interact with the panelists. The key feedback from this year’s event was that we didn’t have enough time for interaction. WomanUP! 2018 will take place June 27-28 2018 in Pasadena CA.

| NAWRB MAGAZINE

WHEN WE PUT OUR MINDS AND HEARTS TOGETHER, CANCER DOESN’T HAVE A CHANCE. Cancer cannot withstand an assault of brilliant minds committed to breakthroughs. Here, some of the world’s best physicians and researchers join forces to save lives. Find out why so many innovative cancer solutions happen here. Find out why there’s no place like Hope. CITYOFHOPE.ORG

Diversity: Why NAWRB? NAWRB is a nonpartisan organization strengthening the voice of Women in the Housing Ecosystem. With the assistance of our Women’s Diversity and Inclusion Leadership Council (NDILC), NAWRB is increasing accountability for women’s gender equality, the utilization of women-owned businesses and providing women the tools and opportunities for economic expansion and growth.

Making a Difference

NAWRB has raised awareness of diverse opportunities, supporting the development and implementation of workforce and supplier diversity standards for the multi-trillion dollar housing sector since 2010, and contributes greatly to the success of the Women-Owned Small Business (WOSB) Program which presently awards $19.67 billion of federal small business contracts to women-owned small businesses. NAWRB is one of only 11 organizations listed on the national platform for the Small Business Administration as a Women’s Entrepreneurship Partner.

NAWRB 2017 Women in Housing Ecosystem Report

In 2017, NAWRB released the first installment of their Women in Housing Ecosystem Report (WHER) which provides expert data analysis of women entrepreneurs’ successes and obstacles across the various industries in the housing ecosystem, addressing the ramifications of workplace gender imbalances on women’s homeownership. The report examines the status of women’s economic growth in the housing ecosystem, evaluating the connection between women’s underrepresentation in senior executive positions, lack of homeownership and poverty. It illustrates the pervasive manner in which these factors intertwine in hindering women’s progress and highlights the power of homeownership as a sanctuary cementing women’s economic foundation and professional success.

NAWRB.com

949.559.9800

info@NAWRB.com

Accountability

From 2016 to 2017, NAWRB responded to four government Requests for Comments (RFC) and two Requests for Information (RFI), advocating on behalf of women and women-owned and small businesses: 1. Federal Housing Finance Agency’s Minority and Women Inclusion Amendments Request for Comment (RFC) 2. SB Rule Changes Notice of Proposed Rulemaking (NPRM) 3. Women-Owned Small Business and Economically Disadvantaged Women-Owned Small Business-Certification Advanced Notice of Proposed Rulemaking (ANPR) and Request for Comment (RFC) 4. Federal Housing Finance Agency’s Enterprise Duty to Serve Underserved Markets Notice of Proposed Rulemaking (NPRM) 5. Department of Labor’s (DOL) Research and Evaluation Plan for 2016 Request for Information (RFI) 6. Consumer Financial Protection Bureau (CFPB) Request for Information (RFI) Regarding the Small Business Lending Market

Special Speaking Engagements & Involvement • 2017 International Conference on Gender and Sustainability (ICOGAS) on the margins of the 72nd United Nations Assembly • 2017 mPowering You: MBA’s Summit on Women in Real Estate Finance • 2017 NAR Conference and Expo • 2017 CAR Conference and Expo • 2017 AREAA National Convention • 2017 California Association of Realtors WomanUP! Conference • 2017 CIFS Financial Services Expo • Women Impacting Public Policy (WIPP) Leadership Advisory Council • Enterprising Women Advisory Board • Contributor to RISMedia’s Real Estate Magazine, National Mortgage Professional Magazine, Inman and various industry publications

Awards for Desirée Patno, CEO & President • Named the highest-ranking woman and 4th overall Top Real Estate Influencer to Follow by Entrepreneur.com in 2017 • 2017 Walker’s Legacy Power25 Award • 2017 Connected Women of Influence Women’s Advocate of the Year Award • 2016 & 2012 HousingWire Women of Influence Award • 2016 Small Business Administration’s (SBA) Women in Business Champion of the Year • 2012 Enterprising Women of the Year Award • NAWRB Magazine, APEX Award Winner for Publication Excellence in 2015, 2016 and 2017

Women in the Housing Ecosystem & Women’s Economic Growth

NAWRB drives accountability, spreads awareness and creates actionable solutions for women as professionals in the housing ecosystem and as current and future homeowners. From a persistent pay gap and lack of mentors to implicit bias in the workplace, women are faced with unique challenges towards earning a seat at the table and building their financial independence.

Women’s Issues in the Housing Ecosystem - Gender Pay Gap

Gender differences in occupation are responsible for more than half of the wage gap in higher-paying professions. Being paid less money for the same work hinders women in their attempts to build wealth, support families and become homeowners. • In 2015, women’s earnings were 80 percent of men’s. • In commercial real estate, there is an approximate 23 percent income gap in median annual compensation, according to CREW Network’s 2015 Benchmark Study Report.

Female Advancement to Senior Executive Positions

Women, especially those of color, are increasingly underrepresented in senior executive and C-suite positions in the housing ecosystem and related STEM fields. • Less than 1 percent: The representation of Hispanic women, Asian women and African American women in senior executive positions in commercial real estate • In 2016, women represented 20 percent in financial services boards and 16 percent in executive committees, The Oliver Wyman Women in Financial Services report reveals.

To read the full report, visit www.NAWRB.com/WomenHousingEcosystem. NAWRB Diversity & Inclusion Leadership Council (NDILC) and Consulting Services:

Be a Leader, contact NAWRB today! NAWRB.com

949.559.9800

info@NAWRB.com

INFOGRAPHIC

By Doring Lloyd

Catching the Next Wave of Mortgage Borrowers

Sometimes, a transition calls for a radical change, though

some people try to avoid such shifts because they can be jarring. The sudden loss of refinance business has been that way for many lenders, and it will get worse in the future. How lenders respond to this transition into a purchase money market will set the winners apart from the rest.

largest banks originated a larger share of those loans during the first three months of the year, increasing their take of the market from 25 percent in Q3 2016 to nearly 31 percent in the first quarter of 2017. While interest rates are not expected to rise sharply, it is widely expected that they will continue rising. Kiplinger told its subscribers to expect long-term interest rates to rise a small amount by the end of the year. It won’t take much to shut off more of the refinance business.

The approaches loan originators will take to solve this problem will vary. Many will double their efforts to attract new refinance business, as writing that business has become their core competency. Others will seek “Mortgage lenders...can’t out more purchase money business, pulling out old playbooks and afford to fail. They must relearning the rules of building find the next wave of strong business referral networks. A mortgage borrowers or few will look for the radical change and catch the next wave of mortface the threat of losing gage borrowers.

To deal with this, we’re seeing the nation’s largest investors offering new programs that will appeal to more borrowers, many of whom could not qualify for a mortgage in the past. At the same time, nonQM lenders have stepped up their their businesses...” efforts to create loan programs Speaking of catching waves, when learning to surf, even when that will pull more consumers out of the renter pool and you fail, you still learn something about yourself and become into homeownership. The question is who will be taking better for it. Mortgage lenders, on the other hand, cannot out these loans. afford to fail. They must find the next wave of mortgage borrowers or face the threat of losing their businesses, which is With inventory at very low levels and homes finally appreciating in value, real estate prices are keeping renters out of all the more reason for them to consider the radical change. the market. Recently, CNBC reported that just 52 percent of renters surveyed in a National Association of Realtors In search of a promising swell Mortgage loan volumes have been down across the country (NAR) quarterly report said they feel now is a good time to in 2017, Forbes reports. In the first quarter, lenders origi- buy. That’s down from 62 percent just one year ago! nated $361 billion in loans, down from $561 billion in the third quarter of 2016. Worse than that, the nation’s five Lenders need to know where to position their businesses

| NAWRB MAGAZINE

NEXT MORTGAGE BORROWERS for success; it’s not clear right now, but there is an answer out there. A new wave is coming. Sitting on their board under a summer’s full moon, a surfer feels the swell of the ocean before they see it. The real estate market, like the ocean, is a living thing. It changes over time, growing from a still expanse to a rolling monster that can drive you into shore or under the surface.

In search of real estate assets One thing that is fairly clear is that we’re going to need more housing inventory if we hope to see loan volumes increase in the future. One place that might come from is the nation’s homebuilders. Homebuilders were in a funk for most of the summer, as reported by CNBC, but bounced back in August as current sales expectations leaped forward. The NAHB/Wells Fargo Housing Market Index— where any figure above 50 is considered positive—is at 68. The other place we can go for housing inventory is distressed real estate. Most of the premium properties have already been sold off by the nation’s servicers and asset managers. What’s left is mostly situated in troubled neighborhoods in our largest cities. In many cases, the cities have taken ownership of the homes in tax sales when servicers could not dispose of them at foreclosure sales.

Both Wall Street firms and small mom-and-pop investors are in the market today, betting their assets in order to gain a return and help people in the process. If the properties cities are holding today could be sold to investors with the ability to rehabilitate the housing and then, with the help of community-based nonprofit organizations, sell it to low-to-moderate income borrowers with financing provided by lenders eager to meet Community Reinvestment Act goals, everyone would win. If the reconstruction of these homes involved minority- or women-owned construction companies, it would be an even bigger win. That’s a lot of moving pieces and it will require some serious coordination to get an operation like this up on its feet. To keep their balance, the industry will have to fall back on good technology.

“I was recently at a housing conference in Detroit...when prospective homeowners there realized that our industry was coming together to put them back into homes of their own, they were so grateful... The feeling was very similar to the one I get when I catch the right wave and ride it all the way in.”

On the surface, this seems like a problem, but like the professional surfer who prepares to catch the wave before others even know it’s coming, some industry players are getting into position to capitalize on a great opportunity.

Our cities don’t have the resources to invest in these properties or to hire and manage the construction firms required to get them back into shape, but there are investors and asset managers out there who do. The real estate flippers and buy-to-rent investors of our industry are a diverse group, many of whom will have an interest in these opportunities.

In search of a better way to sell and finance urban real estate It will take technology to allow asset managers, whether working for the municipality or the new investor, to manage the rehabilitation project. Community-based organizations need technology to make the new homes available to new homebuyers. They will also need learning technology to help the new owners prepare for homeownership, though this is an area of core competency for these organizations and many already have good technology in place for that.

Smaller construction companies will need to be tech savvy to interface with the asset management software in order to find jobs, bid on the work and then report on progress. Many companies are already doing this, and there are plenty of training programs available to help them get up to speed. The best news of all is that these technologies already exist and, even better, they are being used in exactly this way in select cities around the country today. It’s making a difference in people’s lives. Detroit is one of the cities where this is happening. Prospective homeowners are grateful when NAWRB MAGAZINE |

NEXT MORTGAGE BORROWERS they realize our industry is coming together to put them back into homes of their own.

Lindsay Mersino

Sure, there are dangers out there: killer waves, the occasional shark, construction cost overruns, and unexpected problems the inspector finds. The companies, organizations and investors working in these areas are going to have to develop their own sense of balance to make it work. When out on the water, it’s just the surfer and their board. They have to select the wave, know when to start paddling and start moving. They have to know when to go forward to make it work. Whether they sink or surf, they make their own fortune.

Provident Trust Group, LLC www.TrustProvident.com Lindsay@TrustProvident.com 702.522.2155

Joyce Essex

Fortunately, the modern real estate and home finance industries don’t work that way. It takes the whole village to rebuild the village. There are enough people who are willing and ready to make a difference that there can be no doubt a better future will be the result. Like surfing, it’s about finding the wave, developing a sense of balance and then having the confidence and courage to stand up.

Coldwell Banker Residential Brokerage / The Harvey Group, Inc Joyce@EssexHarvey.com www.EssexHarvey.com 310.922.7476

Serving these borrowers will be the next wave of mortgage business. Are you ready to catch the wave?

Doring Lloyd,

Vice President of Business Development, Exceleras Tyneia Merritt

Linda Mitton

Merritt Law, Inc. www.mlawinc.com 909.476.0651

Deborah Canady Avatar Property Services Inc. lmitton@avatargreen.net 888.776.9910

Earnup dcanady@earnup.com 888.228.0341

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austere of environments and face conditions that most humans cannot survive. The Warrior Dog Foundation was founded by former Navy SEAL Mike Ritland. We believe Special Operation Forces (SOF) and law enforcement K9s deserve the highest level of care in retirement. We bridge the gap between service and retirement for these K9s. Once these retired warriors have completed their service and, for whatever reason, are unable to continue on with their handler, the

I was asked to speak about the amazing Warrior Dog

Foundation of which I am honored to serve on their Board of Directors at the recent Five Star Conference. We live free because of the sacrifices of those with two feet and the ones with paws. The Warrior Dog Foundation is dedicated to serving the special operations K-9 community. The K-9’s deployed with these special forces are of the top tier in the working dog world. They are expected to perform in the most

Warrior Dog Foundation helps transition these K9 heroes from an operational environment into our state-of-the-art kennel facility. We then ensure the care of each individual K9 with dignity and grace, including both mental and physical rehabilitation for the rest of their lives with the goal to rehome, if possible. The K9 warriors at the Warrior Dog Foundation are the top tier in the working-dog world. They perform in the most austere of environments and face conditions that most human beings cannot imagine. These K9’s are vital to the success of every mission. We strive to educate the public on the importance of K9s in combat and law enforcement, and showcase the level of sacrifice these dogs give in support of our troops and communities.To quote our founder, Mike Ritland, “These dogs are not only our best friends, they embody what’s best about us—the courage, loyalty, and heart of true warriors.” To learn more about the Warrior Dog Foundation and our retired K9 heroes individual stories, please, visit our website at www.warriordogfoundaiton.org or email any questions to info@warriordogfoundation.org.

Laura Dietz

Broker/Owner Summit Realty/Merlin Enterprises, Inc.

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Stay informed with a free subscription to National Mortgage Professional Magazine, â&#x20AC;&#x153;The source for top originators,â&#x20AC;? as a benefit of your membership to NAWRB. A subscription to NMP allows you to stay on top of the latest news and headlines and share the informative articles and insights with your colleagues and business partners.

Mentoring & Leadership Guiding the Way to Success! Thirty-two

of the largest U.S. companies by revenue on the Fortune 500 list, including PepsiCo, IBM, Lockheed Martin, Oracle and General Dynamics, are run by women. Although this only accounts for a mere 6.4 percent of Fortune 500 companies, it is the highest proportion of female CEOs in the history of the Fortune 500. It’s an exciting time to be a female entrepreneur with the abundance of opportunities available, including government contracts and diversity and inclusion programs. However, even with all the support, there are still obstacles facing women in the workplace; from lower pay than their male counterparts to sexual harassment and fewer promotion opportunities. To get a better understanding of why women are still being held back in the business world, I looked at the most successful businesswomen I’ve known over the years. They have all had mentors, including myself. Over the past eight years, I have led mentoring meetings, training sessions and workshops giving me a clearer understanding of the specialized training and mentoring women need as they develop into successful entrepreneurs.

Change Your Mindset

“Life is not easy for any of us. But what of that? We must have perseverance and above all confidence in ourselves. We must believe that we are gifted for something and that this thing must be attained.” – Marie Curie, two-time Nobel Prize Winner in Physics It starts with your mindset. You need more than just business essentials and marketing to be successful. You need to believe that you can succeed in conquering your fear and embracing your confidence. Interestingly, I find more women have a fear of success than a fear of failure. We reach a certain level, and then we suddenly seize up and get stuck. When women are ready, willing and able to break through their own glass ceiling and ask for what they’re worth, we will see a huge surge, not only in our economy but also in our community. The key to this and any success is collaboration. Through collaboration, we will change the world for the better.

The Myth of Doing It All

“If you want to go fast, go alone. If you want to go far, go together.” –African Proverb When I held my entrepreneur training workshops, I began by sharing one key point: “Stop doing it alone!” Women have a hard time reaching out and asking for help. Rather, we attempt to learn it all and do it all perfectly.

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Women must learn to do what their male counterparts have done for years: build a support team, and then collaborate or delegate the areas in which they are less proficient. With the right partners and support staff you can let go of the tasks that are not your strengths and focus on the ones that are. I can’t stress enough the importance of building your team. We live in a world where information is fed to us on a regular basis, but without much explanation, supporting facts, or consultation on our level of understanding. To be successful, you need interaction and trusted advisors to guide you along the path. Understanding your strengths and weaknesses will help you find mentors who can best guide you through the challenges.

What is Your Time and Talent Worth?

“You probably don’t know who you are and you never really will, until you discover the parts of yourself that you don’t already know!” – Barbara Daoust One of the biggest obstacles facing women in business is understanding value! Women are still not asking for what they are worth. Although we’ve made strides in the equal pay arena, women are still only earning 80 cents on the dollar compared to men. Women who own businesses earn about 25 cents on the dollar compared to their male counterparts, primarily because they aren’t asking for the true value of their products or services. If women’s earnings were equal to men’s, it would add over $11 trillion to the economy. How do we start to move in the direction of building more wealth, respect and success for women? It takes collaboration. It means bringing together our circles of influence so that we can learn from one another to build best practices. Over the past few years, I’ve noticed that the business sector is moving in a more feminine direction when it comes to strategy. The big question used to be, “Who is your competition?” Today the question is, “Who is your Strategic Alliance Partner?” Building these relationships has helped companies enhance their businesses, and has had a positive effect on their customers and community. Women, who by nature think collaboratively, are helping their companies seek win-win situations or mutually beneficial agreements, rather than using the competitive approach of win-lose. This shift is changing

“How do we start to move in the direction of building more wealth, respect and success for women?"

the way businesses service customers. Instead of telling customers what you want them to believe, there is more care and thought being put into clients’ needs. One of my mentors, Barbara Daoust, is a highly successful mindset leader. The valuable lesson I learned from her was that success is not a straight line. You encounter obstacles, and many of these obstacles are created by limiting thoughts that keep us stuck in what we already know.

It Takes Practice

“Success comes when you believe in yourself first, so that others may follow.” I attended the Women’s March earlier this year. As I approached the train station, I saw the most amazing site, crowds of inspired women everywhere. Despite any divergence of political or social points of view, they were there for one reason: to support one another. They came in peace to say, “We count, and together we show up and voice our concerns and need to be heard.” It’s clear that women need each other, and when we come together and plan a strategy to make this happen, we are successful in creating change. We will be the change that needs to happen. I believe that when we can share our beliefs and listen, we learn. It’s time to ask for what we are worth and have no fear of not being worthy. You are what you think you are and you become what you practice. Practice well! Practice hard! Practice with intention!

Gail Lara

Executive Director of the Women’s Collaborative Mentoring Program

The Four Success Principals

There are four principles that highly successful businesswomen employ. Using these tips will help you reach your goals.

1. Stay focused on success to achieve economic growth. 2. Constantly step out of your comfort zone. 3. You’ll never outperform your self-image. If you have a low self-image, you’ll try to solve a problem from the same consciousness that created it.

4. Envision yourself attaining success. Visualize the actions

and qualities of a highly successful person. When you start performing them daily, you will start changing your habits and begin to behave differently. You will develop more confidence, and opportunities will start coming your way.

NAWRB MAGAZINE |

sheSHOWCASE

Samantha L. Downie has joined MBAF as Director of Human Resources and Learning and Development. She was previously Vice President of People and Culture at SproutLoud Media Networks.

City National Bank hired Yaira N. Mejia as First Vice President, Senior Mortgage Banker. She was previously Vice President and Residential Mortgage Loan Officer at Sabadell.

Angela Shields Melissa Naeder

Pacific Union International, Inc. named Teresa Howe Vice President of Business Development. She will be tasked with the company’s corporate services.

Jennifer Worsham

NRT LLC, the nation’s largest residential real estate brokerage company, appointed Laura R. Rittenberg President of Coldwell Banker Residential Brokerage in Atlanta.

EdR promoted Jennifer Worsham to Vice President of Operations. Worsham started her EdR career as a community assistant while a student at Georgia State University.

Tracy Lopez

Alejandra Y. Castillo named the new CEO of YMCA USA. Castillo possesses over two decades of policy, legal and political experience in Washington, D.C.

Melissa Naeder joined Cushman & Wakefield as a Senior Director of Retail Brokerage in Long Island. She has over 12 years of commercial real estate experience.

JLL announced Tracy Lopez as Vice President for the Denver Team. Lopez brings 12 years of experience with the firm and a successful track record with clients and staff.

Megan Goodfellow

Wells Fargo announced Elizabeth Duke as Board Chair. Duke is a former member of the Federal Reserve System’s Board of Governors.

Tennessee Realtors appointed Angela Shields CEO. She previously served as President and CEO of the San Antonio Board of Realtors since 2010.

Megan Goodfellow has rejoined the Hunt Mortgage Group as Chief Credit Officer for Commercial Real Estate. Most recently, Goodfellow was Chief Credit officer at RealtyMogul.com.

Michelle Giannini

Freddie Mac named Stacey Goodman EVP and CIO. Goodman brings over 25 years of technology experience in the financial services industry.

Michelle Giannini appointed Executive Vice President of Residential Sales and Leasing at PN Hoffman of the District. She has more than 15 years of experience in the real estate industry.

Kristy Goodson

Yaira N. Mejia

Samantha Downie

Teresa Howe

Laura Rittenberg

Alejandra Castillo

Elizabeth Duke

Stacey Goodman

sheSHOWCASE

Kristy Goodson joined Bar Harbor Bank & Trust as Senior Vice President, Treasury Services Manager. She will work with clients across Maine, New Hampshire and Vermont.

NAWRB MAGAZINE |

HEALTH WHAT WOMEN WANT

Aerial Yoga is an exercise combining the use of a hammock with yoga poses, dance and

pilates for a gratifying workout. The discipline is great for yoga practitioners looking to insert a challenging variable into their routine. Utilizing a hammock held up by support chains, carabineers and webbing straps supporting up to 2,000 pounds, aerial yoga’s freedom of movement allows exercisers to adapt their poses in a new setting and exercise diverse muscle groups. When practicing aerial yoga, it is recommended that you wear comfortable, form-fitting clothes; stay hydrated; avoid hand lotion; remove jewelry, watches and anything that can get caught on the hammock; and perform with others unless you are a genuine expert. Aerial yoga classes are available at all experience levels.

Health Benefits

Aerial Yoga

• Total body workout • Improved flexibility • Strengthened muscles • Stress relief • New body skills • Improved balance

| NAWRB MAGAZINE

WHAT WOMEN WANT REVIEWS

Read it The Critical Twenty: 20 Critical Steps to Business Success By Aaron Scott Young

Aaron Scott Young condenses his 35 years of entrepreneurial experience into 20 practical steps that will help budding entrepreneurs start successful businesses. The Critical Twenty is an entertaining and easy read that offers practical information—from creating products that customers will buy and marketing techniques, to innovating your business and forging strategic partnerships— with real-life examples that stick.

Tackling the Titans By Julia Hubbel

Whether you are a supplier who wants to write a compelling capability statement and outshine the competition to corporate buyers, or a Supplier Diversity professional who wants to expand diverse spend, this is a mustread guide. With her experience of training minority-, women- and veteran-owned businesses to procure contracts, Julia Hubbel provides expert advice for suppliers looking to put their best foot forward when selling to the largest companies in the nation.

What I Told My Daughter By Nina Tassler

In a time that is redefining what it means to be a woman, What I Told My Daughter is an important collection of lessons and advice that powerful women in the entertainment industry, government, business and beyond have given to their children. Readers will find inspiration in these stories for how we can remind young girls of their value and boundless potential in a society scarred by gender imbalance.

| NAWRB MAGAZINE

She is All Business

By Terry Rasner Yacenda

In She is All Business, Terry Rasner Yacenda recounts the most tumultuous and life-defining moments in her life that she conquered with the help of God on her journey to building an eight-figure empire. With her Transformative Thinking mindset, Rasner presents a unique spiritual model of entrepreneurship that will motivate women to embrace change and growth as they establish their careers and build successful businesses.

#Values:

The Secret to Top Level Performance in Business and Life By Dr. Betty Uribe

#Values, an incredible tool for those wanting to become the best leaders they can be, illustrates what true leadership looks like and highlights the characteristics that have defined the most influential business leaders. In her engaging book, Dr. Betty Uribe provides insight on a value-based leadership model, in which leaders act according to their values, lead with integrity, focus on the greater good and positively impact other’s lives.

Above and Beyond the Glass Ceiling

By Michael Caldwell

Michael Caldwell’s book shares compelling stories of twenty-five women who have broken the glass ceiling that have hindered women from career advancement into the senior executive and C-suite level. From Jessica Alba, Actress and Founder of The Honest Company, to Celina Caesar-Chavannes, Canadian Member of Parliament, this diverse group prove that women can excel in business and other fields, leaving shattered glass behind them.

Watch it Wonder Wheel Starring Kate Winslet, Juno Temple, Jim Belushi

The lives of four people are intertwined amidst the exuberant backdrop of a Coney Island amusement park in the 1950s. Ginny, a troubled former actress and wife of a rugged carousel operator, develops an interest for a handsome young lifeguard. When her husband’s estranged daughter comes to stay with them and also sets her eyes on the lifeguard, Ginny’s life begins to unravel.

I,Tonya

Starring Margot Robbie, Sebastian Stan, Allison Janney Tonya Harding, a competitive ice skater harboring insecurity because of her underprivileged upbringing, ascends the ranks in the 1994 U.S. Figure Skating Championships despite criticisms of her eccentric style. When her husband schemes a plot that injures her competitor, Tonya is accused as an accomplice and falls in the public esteem she worked so hard to earn.

Molly’s Game Starring Jessica Chastain, Idris Elba, Kevin Costner

For ten years, Molly Bloom, a young Olympic-class skier, ran an exclusive high-stakes poker game played by Hollywood royalty, famous athletes, powerful businessmen, and, unbeknown to her, the Russian mob. After Bloom is arrested by 17 FBI agents in the middle of the night, her criminal defense lawyer—her only ally— finds out that there is more to Bloom than the stories told by tabloids.

NAWRB MAGAZINE |

NETWORK

IMN: Evidence-Based Investing Conference Nov 2 | New York, NY IMN and Ritholtz Wealth Management are co-hosting the 2nd Annual Evidence-Based Investing Conference in buzzing New York City. Attendees, including investors, financial advisors, asset managers, technology experts, industry thought leaders, and many more, will come together to learn how to be better decision-makers in the investing process through the latest investment strategies at their disposal.

NAR Conference and Expo Nov 3-6 | Chicago, IL The theme for this year’s REALTORS® Conference and Expo is “The Sky’s the Limit,” and this event promises to help attendees rise higher in their careers. This event, taking place at the largest trade show floor in real estate, will feature over 400 exhibitors, over 100 informative sessions, networking and referral opportunities, and a chance to meet Gold Medalist Michael Phelps!

IMN: Middle-Market Multifamily Forum Nov 7-8 | Orlando, FL

EVENTS

DC Finance’s Real Estate Family Office Meetings Nov 30 | New York, NY DC Finance’s 2017 NYC Meeting is dedicated to real estate, one of the most prominent investment sectors for family offices and high net worth individuals. Knowledgeable speakers will address the various investment opportunities available to these groups in real estate, from residential and commercial, to direct investment and funds. Desirée Patno, NAWRB CEO & President, will speak on bringing women’s gender equality to the forefront of the housing ecosystem and challenging the way financial institution do business.

NAWRB’s National Women’s Homeownership Initiative Dec 2 | Placentia, CA

This forum is the only conference catered specifically to small and mid-sized apartment owners, and offers its hundreds of attendees, including owners and exhibitors, a unique perspective into the small and mid-sized multifamily industry. Informative sessions will cover an array of topics, including institutional capital, establishing funds, small owner joint ventures and more.

Real estate professionals from all housing ecosystem sectors, women homebuyers and women homeowners are invited to attend this free event to learn about new trends and developments, best practices for serving women clients, obstacles to women’s homeownership and effective solutions. A woman’s home is more than just a home—it’s her sanctuary! Her home is a place of personal freedom, security and comfort in an impacting world, and a source of financial stability.

Women of Influence Nov 9 | Bellevue, WA

MBA Summit on Diversity and Inclusion December 4-5 | Washington, D.C.

The Puget Sound Business Journal’s Women of Influence award program celebrates its 14th anniversary of recognizing local business women and community leaders who are making a difference, at the local and national level. Attendees are invited to celebrate and meet these influential women leaders in the business and community realms.

MBA: Accounting & Financial Management Conference Nov 13-15 | San Antonio, TX

MBA’s Summit on Diversity and Inclusion brings together industry leaders for detailed, productive discussions on this seminal topic. Participating in events like this demonstrates your commitment to diversity and inclusion within your company and across your industry. As we progress the movement for equality in the workplace, it is imperative to champion the development of relationships and collaboration to ensure lasting success.

Building Cities of the Future December 5 | Tampa, FL

Attendees of this conference, hosted by the Mortgage Banker’s Association, will receive essential information relating to financial and accounting professionals in both single-family and commercial/ multifamily mortgage markets. Session topics will include assessing risks of government loans, mortgage technology’s effect on origination costs, and how tax reforms will affect the market and businesses.

This CRE and Urbantech Summit provides the opportunity to connect with the executives and founders reshaping the built environment. Featuring industry experts, government officials, entrepreneurs and more, the conference will deliver a comprehensive look at the way innovative commercial real estate design is changing the future.

IMN: Forum on Data Centers & Cloud Services Infrastructure Nov 16-17 | Chicago, IL

DC Finance - Florida Family Office & Wealth Management Annual Conference December 6 | Miami, FL

Following last year’s success of over 65 CEO and executive speakers and over 250 senior executives, this event will provide prominent data and discussion of critical business issues that C-level executives in the industry face. Attendees will receive food for thought from informative sessions that will address steps to achieve higher valuation; privacy and security in cloud environments; wireless clouds; and much more.

upcoming

| NAWRB MAGAZINE

DC Finance will host its fourth U.S. wealth management conference alongside Art Basel and followed by a week of luxury events. Desirée Patno, NAWRB CEO and President, will moderate the Women in Private Equity and Venture Capital session, during which Sarah Cone, Founder and CEO, Social Impact Capital—a leading female venture capitalist who started her own investment firm—will share experiences and lessons learned on investing in and building successful women-led companies.