"Like-minded" organizations announce affiliation
The National Association of Mortgage Brokers (NAMB) welcomed the National Association of Professional Mortgage Women (NAPMW) on board as its latest affiliation in September, a partnership the organizations hope will help advance the cause of equity and fair representation within the mortgage industry.
The move will see NAPMW, a 60-year mainstay of the US mortgage industry, focus on leveraging tools available through NAMB including partnering on education opportunities and mentorship by NAMB board members of its own board of directors.
NAMB president Valerie Saunders (pictured, top left) described the move as a partnership between two likeminded associations with similar goals and objectives.
As only the fifth woman president of NAMB throughout its 51-year history, Saunders said she’s determined to continue advocating for equality in the industry. “I definitely want to make sure that in the future, women and minorities [are represented] so that we have a diverse leadership within our organization,” she told Mortgage Professional America.
NAPMW’s president Annette Watkins (pictured, top right), meanwhile, highlighted the trailblazing role its founding members had played in the industry in the 1960s, and emphasized the importance of continuing that push looking ahead.
The partnership with NAMB will prove a significant step, she said. “We’re just really trying to keep education and empowerment [at the forefront] as well as diversity, making sure everyone is surrounded by good people,” she said.
“And that’s part of NAMB right now: education and events. Every time I go onto their website or I get an email, it’s like, ‘Wow, look what they’re doing now.’ It’s always forward-moving. And that’s what we’re trying to do.”
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— Mortgage Professional America Magazine (@MPAMagazineUS) October 4, 2024
What should female newcomers keep in mind about joining the industry?
For younger women stepping into the industry for the first time, Saunders highlighted the importance of communication and education in helping forge a successful career. That starts, she said, by getting involved with a trade association. “Go attend a meeting. Go to as many conferences and events as you can. Go seek out as many people as you can,” she said.
“If you see somebody that you think is a role model, reach out. We all have social media, we all have email. Send us an email or a message and ask. I’m always happy to speak to anybody and help anybody that I can.”
Watkins, meanwhile, said in-person interaction and networking at local meetings is an excellent way for newer mortgage professionals to find their feet in the industry. She highlighted the fact that NAPMW’s meetings are attended by a variety of different people connected to the industry – from brokers to realtors and insurance professionals.
That offers an invaluable opportunity for industry newcomers, she said. “When you get involved and see the dynamics of successful women in different areas and start really networking with them, I think that’s the key,” she explained. “Surround yourself with good people that are already successful. Don’t try to recreate the wheel.
“I think you do need to find something local. Even though we [the two associations] are both national… we’re intending to grow more local associations, to have boots on the ground and have events and that camaraderie in person.”
Vital work being done by women in mortgage
Saunders underlined the important qualities women have brought to the mortgage industry over the decades, noting the first company she worked for in the mortgage space was made up entirely of women in administrative roles with only men working in loan originator positions.
In that case, women represented the “backbone” of the company, she said. “Obviously, you can originate all the loans you want, but if you don’t have somebody to process them, underwrite them, close them, fund them, post-close them, service them, you’re not going to have a loan.
“So we can play an extremely key role in the mortgage industry. We look at things from a different perspective. We’re able to juggle home life, business life and extracurricular activities and also association work. So I think women are a key piece of the puzzle to the success of the mortgage industry.”
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