Gated Communities

When doomsday struck in 2022 with the first interest rate hike, Tiffany Dawson was already prepared. As a budding real estate investor she knew that refinances were losing steam, and the purchase market would be the new path forward. While many new MLOs did not last the year or make it far into 2023, Dawson excelled, closing 24 loans in one month and being promoted to Senior Loan Officer in her first year.

Nicole Haggard, PhD, Director of the Center for the Advancement for Women at Mount Saint Mary's University, exposes the hidden costs women pay for products and services in just about every area of their lives. From healthcare to beauty standards. From a lack of access to venture capital to invisible domestic labor and unbalanced care work. All those added costs can be added to the list of barriers holding back more women from achieving homeownership.

Best-selling author and compliance professional Tory Haggerty discusses his new book, Thick Red Line, which breaks down how bias and discrimination can affect any and every part of the loan cycle from application to underwriting to pricing to marketing. Using case studies, Haggerty shows how some banks have navigated their way back to compliance and fair lending.

Have you ever seen a DEI campaign that made you physically cringe? That's a common side effect to reading canned messaging from a company pandering to a certain demographic, whether its minorities or women or LGBTQ+ people. How does a mortgage company avoid such cringe-worthy pandering when trying to reach minority homebuyers? NAF Co-founder and CEO, Patty Arvielo, and her SVP of Growth and Expansion, Mosi Gatling, are here to explain the difference and teach listeners about authentic representation.

Finally, Gated Communities proudly welcomes one of the most respected figures in the mortgage industry, the man who brought DEI to the forefront, and runs the largest minority-focused mortgage association in the United States: Tony Thompson, founder and CEO of NAMMBA, also known as the National Association of Minority Mortgage Bankers of America. Thompson shares his story, the origins of NAMMBA, and why inclusion is the key ingredient for companies to achieve more profitability with diversity. Why do some companies see increased profits when diversifying the c-suite while others don't? Inclusion, Thompson said; they're not bringing the I in DEI.

Broker owner and CEO of Blue Dolphin Capital, Sam Harris III, candidly explains his thoughts on why the mortgage industry continues to fail Black and other under-resourced borrowers as well as aspiring mortgage professionals, despite the amount of DEI initiatives being implemented by companies and associations nationwide. It's because people aren't being intentional with their initiatives, Harris said. When a company needs to cut costs to improve on margin, executives ruthlessly slash expenses wherever necessary. But when a company fails to reach DEI goals, they pat their own backs for trying and nothing changes.

Mauro Guzzo, CEO of Guzzo & Co., wants his company to become the McDonalds of the mortgage industry. By that he means he wants the same international presence as McDonalds, offering consumers familiarity and simplicity if they relocate or buy real estate internationally. Guzzo's goal is to make the process easier for more consumers, who typically have difficulty with the language barrier as well as the different regulations and procedures for getting a mortgage. But in order to establish such a dominant presence, he must earn the trust of foreign banks, regulators, and sometimes politicians who may not even know what a brokerage is.

Over the next 20 years, the Urban Institute forecasts that Latinos will be 70% of net new homeowners. UnidosUS, the nation's largest Hispanic civil rights and advocacy organization, is on a mission to encourage the creation of 4 million new Latino homeowners by 2030. Senior housing policy analyst at UnidosUS, Sam Kenney, says the industry doesn't have to wait because 8 million Latinos are mortgage ready right now!

Mortgage lenders and AMCs owe a huge thank you to Jillian White. In this episode, White, an intelligent, hardworking, Black woman, shares the racism she experienced in her 20 years as a real estate appraiser. Now, after transitioning into the tech space and becoming CEO of Appraisal Insights, she's created BIASCAPE, a new AMC appraisal bias certification that will save lenders when they're asked by attorneys “What were you doing to prevent bias?”

In an ultra competitive market, cash and conventional are king. But does a buyer need to have those loans to submit the best offer? Top producing loan officer and #1 FHA originator in the nation, Nicholas Barta, says real estate agents and Realtors shouldn't be so quick to dismiss FHA borrowers. Mentioned in this episode:OCN eventsWomens magazine

Everyone knows this industry is cyclical and there's little one can do to prevent layoffs from happening. But the unintended consequence is that women are much more likely to get laid off than men, since most of them work as processors, underwriters, and marketers. Steven Cooley, founder and CEO of Art Vs. Math, comes on Gated to spread awareness and share his perspective as a business leader.Mentioned in this episode:Womens magazine OCN events

A long ignored but well-known issue in the appraisal field is the stringent requirements for training and education to become a certified appraiser — no wonder no one is interested in this profession. Vice President of Veros Real Estate Solutions, Jeffery Hogan, tells us young people, including minorities, have trouble gaining access to mentors in order to complete their training. But the Valligent Appraisal Training Program (VATP) provides a solution. Mentioned in this episode:Womens magazine OCN events

Immigrant attorney Renata Castro from the Castro Legal Group provides mortgage loan officers advice along with founder of Oneclickadvisor.com and business consultant James Chittenden on how to connect with immigrant home buyers. Learn how to pick up referral sources to grow immigrant clientele and aid them in their journey to homeownership.Mentioned in this episode:Womens magazine OCN events

Ever wonder what exactly goes into making Special Purpose Credit Programs (SPCPs)? Senior Vice President and Head of Community Lending at TD Bank, Michael Innis-Thompson, shows us exactly what goes into building these programs and how effective they are at helping underserved borrowers. Mentioned in this episode:Womens magazine OCN events

NMLS instructor from Mortgage Educator and Compliance, David Luna, knows bankruptcy filings are on the rise and loan officers aren't far from filing themselves as pipelines continue to shrink. Luna offers a solution: pull people out of Chapter 13 bankruptcy with an FHA loan. Serving these people may just add 10 or 20 loans to your pipeline a month.Mentioned in this episode:Womens magazine OCN events

Asian Americans have long dealt with discrimination and bias, but the issue has gotten much worse since the onset of the pandemic. Subcommunities of the Asian population who previously were not discriminated against now are. Shocking hate crimes have rocked the nation and now the threat of Texas Senate Bill 147 is preventing ALL Chinese and North Korean citizens from buying homes. Learn from Hope Atuel, CEO and executive director of Asian Real Estate Association of America what you can do to help.Mentioned in this episode:OCN eventsWomens magazine

Sean Moss, executive vice president of DownPayment Resource, joins Gated to dispel myths around down payment assistance programs and why they're more important than ever given current market conditions. Not only should loan officers be up to date on all the DPA programs available in their market, but they should also be educating consumers about them on social media. It's another way to lure more clients to your business.Mentioned in this episode:OCN eventsWomens magazine Otech liveotech live march show ad.

Woody White, Home Bridge's Chief Diversity and Inclusion Officer was oftentimes the only Black person at the executive level within certain companies, which gave him insight into why the mortgage industry is predominantly white and male.Mentioned in this episode:OCN eventsWomens magazine

KimArie Yowell, chief diversity officer for Rocket Companies, explains what Rocket does to help underserved borrowers and its hometown residents.Mentioned in this episode:OCN eventsWomens magazine

Researcher and co-author of the study, Junia Howell, shares the most shocking findings from the most extensive appraisal bias study the country has ever seen. The data shows how appraisal bias is worsening every year, how racial inequity has grown, and how anti-Asian sentiment during the pandemic caused Asian neighborhoods to decrease in value.Mentioned in this episode:Womens magazine OCN events

FairPlay, the world's first “fairness-as-service” solution for algorithmic decision-making, published a study that shows an alarming drop in mortgage fairness for Native American mortgage applicants. FairPlay Founder & CEO Kareem Saleh discusses the study's findings and how AI can help increase fairness among these groups.Mentioned in this episode:OCN eventsWomens magazine

How do you reach new communities and gain their loyalty? How do you hire a diverse staff and ensure everyone gets along? How can you market to non-white or younger communities without coming off as too cringe? Malia Lazu, CEO of the Lazu Group, covers all this and more in this episode of Gated Communities.Mentioned in this episode:OCN eventsWomens magazine

By now, most of you are familiar with the history of redlining, but what current events are preventing us from closing the racial homeownership gap? Urban Institute Principal Research Associate Michal Neal breaks down why the Black community is harder hit during recessions and what loan officers can do to help.Mentioned in this episode:Womens magazine OCN events

In Islam, it is forbidden for Muslims to both receive and pay interest, preventing them from being able to get mortgages, student loans, and auto loans. Many Muslim Americans are forced to rent for the entirety of their lives, but luckily, there are a few banks and lenders out there that offer faith-based financing. Vice President of Islamic Residential Financing, Ali Farooq, tells us what financing options are out there for Muslim Americans and how much their bank has grown from helping this underserved demographic. Mentioned in this episode:OCN eventsWomens magazine

The next generation of first-time homebuyers is expected to be the most ethnically-diverse group yet. Big lenders, like Guild, are beginning to take notice and market to these clients. Guild's Vice President of Marketplace Diversity Strategy, Victoria Garcia DeLuca, provides us insight on what policies could help your organization adapt.

A wide variety of people shop at Walmart, including underserved borrowers. Now they can get access to mortgage solutions where they frequently shop and get financial advice directly from their lender.

Is it too early to talk to Gen Z? What about their student debt, low credit, and unrealistic expectations? Rajin Ramdeholl, a top-producing MLO who has tons of experience working with Gen Z, addresses these misconceptions and tells us this generation is a lot more financially savvy than you think.

Is Boston as racist and segregated as everyone says it is? We brought on Dave Wood, a Black realtor working in the Greater Boston area, to share his experiences and thoughts on the matter.

Black borrowers have enormous spending power — $1.6 trillion, collectively — but own the lowest amount of asset-earning products. All they need are experts like you to guide them on how to build their credit and achieve generational wealth.

Home ownership is supposed to lead to wealth creation. University of Tennessee-Knoxville Assistant Professor of Finance Ashleigh Eldemire says even there, disparities exist. Her study of low-income buyers using HUD vouchers found white homeowners accumulated wealth faster than Black households. But originators can help close that gap. Link to study: https://academic.oup.com/rcfs/article/11/3/465/6572823?login=false (https://academic.oup.com/rcfs/article/11/3/465/6572823?login=false) Link https://www.hud.gov/program_offices/public_indian_housing/programs/hcv/homeownership#:~:text=The%20Housing%20Choice%20Voucher%20 (https://www.hud.gov/program_offices/public_indian_housing/programs/hcv/homeownership#:~:text=The%20Housing%20Choice%20Voucher%20)

In part two of Yanira's interview we discuss how to establish a relationship with the Latino community. By now some of you may be wondering "What if I can't speak Spanish?" or "What if they don't find me relatable?" Yanira tells us how you can build or train your team to capture more of this growing demographic, and shares tips on how to build trust with the community. Mentioned in this episode: Pennymac TPO Outro Pennymac TPO Intro OrginatorConnect.com_Matt

Do you watch shows like Million Dollar Listing, Selling Sunset, or Property Brothers? Well how about a show called Yanira's World, in which Latina real estate mogul Yanira Suarez helps under served Latino borrowers find their dream homes. If you're wondering how to establish a relationship with the fastest fastest growing demographic of first-time home buyers (Latinos), then this reality star has some tips for you! Mentioned in this episode: Pennymac TPO Outro Pennymac TPO Intro OrginatorConnect.com_Matt

Director of Government Affairs at CBC Mortgage,Tai Christensen, explains how redlining trends have transformed over the years — from the 1930's up until today —  but remain just as detrimental to the Black community. Tai tells us what modern-day redlining looks like, what the current barriers to home ownership are for Black Americans, and the difficulties behind being a first-generation homeowner. She also weighs in on whether modern-day redlining is more of a systemic issue or if there's too many bad actors in the industry. Some of her answers may shock you. Mentioned in this episode: OrginatorConnect.com_Matt Pennymac TPO Outro Pennymac TPO Intro

Luis Vasquez, a Scholar of Law at the Williams Institute, shares developing research on the discrimination of LGBTQ+ borrowers. His study shows us that LGBTQ+ members experience a 3% to 8% lower approval rate and they are often charged higher interest rates on their mortgages. Yet, there is no evidence that suggests LGBTQ+ borrowers are more risky than heterosexual borrowers. Mentioned in this episode: Pennymac TPO Intro OrginatorConnect.com_Matt Pennymac TPO Outro

John Paasonen, co-founder of Maxwell, joins the show to talk about helping underserved borrowers in your community. He says local lenders are better situated than big banks to help local borrowers. And one way to do that is by expanding a borrower's credit box.  Mentioned in this episode: Pennymac TPO Outro OrginatorConnect.com_Matt Pennymac TPO Intro

Host Katie Jensen is joined by Tenisha Tate-Austin, a Bay Area borrower who made headlines when a second appraisal on her home netted nearly half a million dollars more than the first... But only after removing any evidence that her Black family lived there. Austin shares how it felt to whitewash her home— the practice of replacing photos of her own family with those of a white family to increase perceived value— and what it meant to her that it worked.  Mentioned in this episode: OrginatorConnect.com_Matt Pennymac TPO Outro Pennymac TPO Intro

Picture your dream home. Now look down. There's a bright red line keeping you out. The American Dream remains only a dream for our underserved borrowers. Join host Katie Jensen, Staff Writer for American Business Media, as we dive into redlining and the legacy of discrimination.  You'll hear first-hand accounts from those who've had to fight back to achieve their dreams. And we'll challenge industry leaders on how to rewrite this legacy.  Coming May 18th. MortgageNewsNetwork.com