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Celebrate Diversity Month: The Mortgage Industry Perspective

Diversity is crucial for business, and with this April being Celebrate Diversity Month, MReport reflects on makes diversity and inclusion so important to the mortgage and servicing industries.

Charmaine Brown, Director of the Office of Diversity at Fannie Mae and American Mortgage Diversity Council (AMDC) Vice Chair, noted how diversity can only benefit a company’s bottom line.

“Diversity and Inclusion are essential to business success. It drives innovation and lifts performance,” Brown said. “In fact, research shows that diverse and inclusive companies are 15 percent more likely to outperform competitors. Additionally, our talent pool and future home buyers and renters are the most diverse in our nation’s history. This rich diversity provides tremendous opportunities for even greater innovation in developing housing solutions that work for everyone.”

"Diversity & Inclusion is important in the mortgage industry because it affords companies a means by which to remain relevant to and attenuated with their customers, constituents, and stakeholders," said Michael Ruiz, Director, Supplier Diversity at Fannie Mae.

The AMDC provides a platform for the collaboration of mortgage industry leaders for the advancement of diversity and inclusion dialogue. The organization develops and provides tools and strategies to create an understanding and appreciation of individual differences in thought, experience, race, ethnicity, culture, religion, style, sexual orientation and gender identity. Past initiatives have included a webinar series as well as several LGBT town hall events in 2018.

The upcoming April Issue of MReport takes a deep dive into these topics, speaking to industry D&I professionals including Dana Dillard, EVP, Corporate Social Responsibility, Mr. Cooper; Randy Miller, President, Randall S. Miller & Associates; Carina Cortez, EVP, People, Ellie Mae; Lola Oyewole, Director, Human Resources and Chief Diversity & Inclusion Officer, Ocwen Financial Corporation; Lori Eshoo, Founder and President, National Tax Search; Loreli Wilson, Director of Diversity and Inclusion, Veterans United Home Loans; Diana Peterson, President, AuctionWorks; Dr. Amanda Andrade, Chief People Officer, Veterans United Home Loans; and Maureen Hart, SVP, Vendor Management and Information Security, Aspen Grove Solutions.

“There is significant research that shows that having a diverse workforce drives economic growth,” Oyewole told MReport in the April issue. “A report by McKinsey & Company found that a 10 percent increase in diversity in the senior executive team resulted in an almost 1 percent rise in earnings in the U.S.A.”

You'll be able to read that full piece, and much more, when the April edition of MReport is available online starting on April 1.

To recognize the achievements of the women leaders who are shaping the housing and mortgage industries, the Five Star Conference has opened the nominations for the second annual Keystone Awards, starting April 1.

“The Keystones honor the contributions of women who exemplify characteristics that strengthen and support the industry through their leadership,” said Ed Delgado, President and CEO of Five Star Global. “These leaders are mentoring and shaping the careers of professionals and driving progress for the mortgage industry.”

To learn more—including how to nominate a colleague—click here.

Want to learn more about diversity in your business? Register for the 2019 Five Star Diversity Symposium, May 8, 2019 at the Adolphus Hotel in Dallas. Featuring powerful presentations and collaborative roundtable discussions, the 2019 Five Star Diversity Symposium will serve as a platform for industry leaders to advance the diversity dialogue and promote truly inclusive business practices to the benefit of individuals, their organizations, and the industry. Register online here.

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.
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