Churchill Mortgage has added Randy Starkweather to its executive team, naming him chief financial officer where he will be responsible for overseeing the company’s financial operations and performance.
Starkweather brings more than 35 years of executive management experience to the position, specializing in financial and operational management, mergers/acquisitions, strategic planning and financial restructurings.
His background includes financially overseeing organizations with revenue in excess of $2 billion, along with growth-oriented companies, like Cambio Health Solutions, which grew from a start-up to an industry leader, prior to its acquisition by FTI Consulting.
Shalin Amin has joined Zumper, a privately-held rental marketplace, as the startup’s first chief experience officer.
Bringing an extensive background as a design executive to the position, Shalin will be responsible for elevating the end-to-end user experience, scaling the team and overseeing the two-sided marketplace. Starting his career as a product and brand consultant, designing user interfaces for companies like eBay, Condé Nast and Warner Music, he eventually went on to build socialize.it, a mobile-first startup that seamlessly creates photo albums, and work at Uber, where he redesigned the rider app that garnered numerous awards and set the bar for design at Uber.
Verity Global Solutions, an outsourced solutions provider specializing in the mortgage industry, has appointed a new chief operating officer, adding mortgage industry veteran Chetan Patel to its leadership team.
As chief operating officer, Patel will be responsible for expanding the company’s breadth of services and growing the company from 600 employees to more than 3,000, with an immediate goal of hiring between 50 to 100 mortgage servicing specialists and filling over 100 underwriter positions.
Verity also added Kerry Goodman to its team, naming him vice president of sales and business development. Bringing over 25 years of sales experience to the position, Goodman will be tasked with helping position the company as a mortgage industry leader in international business outsourcing, along with building new customer relationships and expanding on existing ones.
The NYC Housing Partnership, a not-for-profit intermediary for the development of new and rehabilitated affordable housing, announced it named Esther Toporovsky as its new executive vice president, a newly created position. Toporovsky will be charged with helping the Housing Partnership broaden its focus on additional directions and new opportunities,
Mostly recently, she served as the senior program director of green communities at Enterprise Community Partners, where she provided strategic oversight of innovative green capital initiatives and business models for community development.
Mortgage platform SimpleNexus has tapped Cathleen Schreiner Gates to become its next company president.
Schreiner Gates, a technology veteran with more than three decades of experience, joined SimpleNexus’ board of directors in April 2020.
Between 2015 and 2019, she served as executive vice president of sales and marketing at cloud-based mortgage technology provider Ellie Mae. During her tenure at Ellie Mae, the company spent six consecutive years on the Deloitte Technology Fast 500 and negotiated a $3.7 billion purchase by private-equity firm Thoma Bravo. (Ellie Mae was just acquired by Intercontinental Exchange in an $11 billion deal.)
Schreiner Gates is also the founder and CEO of independent consulting firm Trifecta.
Elsewhere in mortgage comings and goings, Chris Boyle has been named president of home lending at Roostify, bringing extensive experience in the mortgage lending ecosystem to the position. In her new role, she will work alongside Roostify co-founder and CEO Rajesh Bhat.
Boyle previously was on the executive team at Freddie Mac, serving as chief client officer, and has nearly 30 years of experience across all facets of mortgage lending marketing, including client-facing technology and client experience. As president of home lending, Boyle is responsible for all external-facing functions and will lead the growth plan for Roostify to engage mortgage lenders across the country.
First American Financial Corporation hired Jon Wierks as vice president in First American’s data and analytics division, as he applies decades of experience in valuation analytics and collaborating with the largest users of AVM products to his new position.
In his new role, Wierks will work on existing automated valuation and collateral risk analytics initiatives and products.
Tom Ferry International,a real estate coaching company, announced the addition of two industry executives to his management team.
Joining the company as chief operating officer, RJ Jones most recently served as executive vice president of finance and growth at eXp World Holdings, and has also served as vice president of investor and corporate relations at Zillow Group. Keri McGhee has been named as vice president of marketing after spending the last seven years at Zillow, bringing experience in digital marketing, marketing/sales enablement, partner marketing & event strategy.
realtor.com named Bob Evans vice president of industry relations, where he will lead the company’s long-standing efforts to engage and support its industry partners. This includes Realtor associations, MLSs, agents, brokers, lenders and title companies.
Bringing 35 years of industry experience to his new positions, Evans said that he is “thrilled to move into this role at such a pivotal time in our industry and for the company.”
Opendoor announced that Carrie Wheeler, a board member for the past year, has transitioned into a new role, officially naming her chief financial officer. Wheeler has worked closely with the executive team at Opendoor over the last year, helping them refine their financial model and navigate the onset of COVID-19.
Wheeler brings 21 years of experience at TPG Global to the position, where she led a number of transactions involving over $20 billion in value. She has also sat on the boards of numerous companies, including leading brands such as Dollar Tree, Neiman Marcus and Petco. Wheeler will be replacing Gautam Gupta, who serves as Opendoor’s chief business officer and CFO.
Jim Anderson is joining Finance of America Mortgage, a national, full-service mortgage banker as chief marketing officer, bringing more than 20 years of marketing experience to the company.
Prior to joining the company, Anderson has led marketing teams at Stearns Lending, Certainty Home Loans, Accenture, CNN and The Weather Channel. Most recently, he led a marketing tech stack transformation at Stearns, including an enterprise customer relationship management platform, digital asset management platform and marketing automation solution, across wholesale, retail, and eight partner brands, contributing to 3558 units and $1.09 billion in funded loan volume during the first year.
FormFree has promoted 2020 HousingWire Insider Cindy Snow to chief operating officer. Originally joining the company in May 2019 as a product manager, Snow quickly advanced to director of product marketing, where she has facilitated partnerships and product updates that enhance lender speed, pull-through rates and security.
In her new position, Snow will craft efficient systems that elevate FormFree’s performance while directly overseeing business operations, product management, business intelligence, integrations and customer support.
In honor of the 2020 HW Insiders list that was announced on Monday exclusively for HW+ members, HousingWire interviewed Dean Kirchen, senior vice president of WFG Default Services at WFG National Title Insurance Company, to get his insight on the servicing industry.
In this Q&A, he shares his thoughts on the biggest trends in the servicing industry and one of the issues that he thinks people aren’t paying attention to that they need to be.
For this week only, HW+ members get a sneak peak at the 2020 HW Insiders. The full profiles will be available Sept. 1, 2020.
HW: What trends in the servicing industry are you watching right now?
Dean Kirchen: We’re mostly focused on the various legislation that will impact the way servicers do business in states. That will have an effect on whether forbearance, foreclosure moratoriums and forbearance loan arrangements are made.
You could see a whiplash effect where if there’s forbearance or moratoriums that last for a certain period of time, or an extended period of time, what is that anticipated volume going to be like, if at all, down the road? And, do servicers have the capacity to handle the types of requests that they will be faced with, whether it’s qualifying forbearance, qualifying modifications, refinancing, foreclosures, etc.? We’re really just trying to gauge servicer capacity for when forbearances and moratoriums are lifted to see how they handle that and then we would go from there.
HW: What’s the best piece of advice that you’ve ever received?
Dean Kirchen: The piece of advice that I’ve received in the past that I always refer back to is the importance of work ethic, accuracy and consistency. This is what keeps us moving forward and building new relationships.
HW: What’s one key thing that you do in your life that you think has been a key to your success?
Dean Kirchen: For me, it’s a work ethic. I’ve been working ever since I was in high school, and I was lucky enough my father ran a car dealership, so I was always hanging around the car dealership. In that time, my father taught me a lot about the importance of work ethic, and being in the car business, those were long hours. After spending all those summers with my father, it was that work ethic that’s stuck with me through life.
HW: How do you encourage innovative ideas?
Dean Kirchen: It’s important to ask questions, listen and then engage the right people within the organization to make decisions. It’s important to listen to what your clients are asking, how they’re asking it and then, engage with the frontline people within our organization on how they’re interacting.
How would they have handled this situation better? What would set us apart from the status quo? We’re in the service business, and just like in anything else, people want to feel special, and they want to feel like they’re not part of the herd.
HW: What’s something that people need to be paying attention to right now that they aren’t?
Dean Kirchen: It would be delinquency rates. What’s scary to me is that with the forbearance programs and moratoriums that are going on, are people being mindful that these payments will be due in the future? And, how are they providing for a future stream of payments that could be due, in regards to their mortgage payment, that could be in excess of what they currently pay?
Hopefully people are being mindful of these obligations that are being postponed because not all lenders will be putting those on the back end of the loan. They could be due within certain periods of time depending on who the investor is.
A lot of borrowers are making payments even though they are in forbearance agreements, but then you have another group of individuals who are not making payments under the forbearance agreement. How are they accounting for these future payment streams that could be due that could be in addition to their normal monthly payment?
Ellie Mae announced Thursday it entered a definitive agreement to be acquired by Intercontinental Exchange for approximately $11 billion. The move comes 15 months after Thoma Bravo, a private equity investment firm, announced it would acquire Ellie Mae in an all-cash transaction of $3.7 billion.
“We are excited to be joining the Intercontinental Exchange family and having the opportunity to work closely with Simplifile and MERS in helping our industry to realize the true digital mortgage,” said Jonathan Corr, president and CEO of Ellie Mae. “We have been on a journey, as we have long said, ‘to automate everything automatable’ for the mortgage industry, and joining ICE, which has followed a parallel journey in global exchanges, will allow us to further accelerate realizing our vision.”
ICE’s decision to acquire Ellie Mae follows the company’s actions over the last four years to strengthen its hold in the residential mortgage industry.
In 2016, ICE announced it acquired a majority equity position in MERSCORP Holdings, the owner of Mortgage Electronic Registrations Systems, collectively known as MERS. Two years later, ICE purchased the remaining stake in the company for an undisclosed sum.
Then, in 2019, ICE announced it acquired Simplifile for $335 million, a move that ICE stated “establishes ICE, through its growing ICE Mortgage Services network, as the leading provider of end-to-end electronic workflow solutions serving the evolving U.S. residential mortgage industry.”
“Twenty years after we founded Intercontinental Exchange to provide a transparent trading platform for the energy industry, and following two decades of providing continued innovation to help customers navigate global markets, we are pleased to announce the acquisition of Ellie Mae, which will help us similarly transform the mortgage marketplace,” said Jeffrey C. Sprecher, founder, chairman and CEO of Intercontinental Exchange. “Our planned acquisition represents a one-of-a-kind opportunity to add an extraordinary enterprise with great leadership to our family.”
“It will also enhance ICE’s growth strategy in mortgage technology, with complementary products and a wide array of customers and stakeholders who will benefit from our core and proven expertise in operating networks and marketplaces,” Sprecher said.
According to the announcement, the transaction values Ellie Mae at an enterprise value of $11 billion, with consideration in the form of a mix of cash (84% of EV) and newly issued shares of ICE common stock (16%).
Thoma Bravo acquired the company in an all-cash transaction of $3.7 billion, which means ICE purchased the company for three times more than it sold for a little over a year ago.
According to the Thoma Bravo agreement, shareholders received $99 per share in cash.
On the conference call about the acquisition, an ICE spokesperson commented on the increased valuation, stating that what Ellie Mae traded for 18 months ago has nothing to do with what they think it’s worth today. “We think what it’s worth today is all about where we think it can go and with that growth comes really solid incremental margins,” they said, adding that they think Ellie Mae is a business that can grow 8% to 10% a year, every year, for the next decade.
“We partnered with Jonathan Corr, Joe Tyrrell and the Ellie Mae team to advance their vision to automate the residential mortgage industry while also using Thoma Bravo’s deep software expertise to greatly improve the company’s operations and accelerate growth,” said Holden Spaht, a managing partner at Thoma Bravo. “We are confident that being part of ICE will enable Ellie Mae to continue transforming an industry still in the early innings of digitization, and we look forward to following Ellie Mae’s continued success as part of ICE for many years to come.”
Based in Pleasanton, Calif., Ellie Mae has approximately 1,700 employees and was founded in 1997 with a mission to automate and digitize the trillion-dollar residential mortgage industry.
According to the announcement, Ellie Mae provides technology services to all participants in the mortgage supply chain, including its over 3,000 customers and thousands of partners and investors participating on their open network who provide liquidity to the market.
The acquisition is expected to close in the third or fourth quarter of 2020.
HousingStack is a real estate technology landscape that provides a dynamic visual that reflects the rapid changes in the sector. The HousingStack is exclusively for HW+ members. To join the HW+ community, go here.
While leads flow from various sources and opportunities come into focus, things get real as they move to the transaction stage. This is where forms are filled in, agreements get signed, offers turn into contracts and lots and lots of paperwork flies through people’s hands. For any one sale, there could easily be 25 to 40 documents to manage (contracts, disclosures, inspection reports, HOA forms, more disclosures). As such, it’s no surprise that there would be a lot of action around the transaction.
This segment of the HousingStack includes companies that are primarily focused on moving transactions through the process including Digital Forms, Digital Disclosures, eSignatures and Digital Transactions, which generally include Compliance. What’s interesting here is that, although this is where the rubber meets the road in terms of actually generating the commissions that pay for everything, this area has far fewer players than the segments focused on generating all of the leads. Given that tens of millions of leads turn into between 5 million and 6 million transactions every year, it probably makes sense.
Another interesting aspect of this segment is that many MLSs provide solutions here (via vendor partnerships) to offer digital transaction management as a member benefit. Even beyond that, two specific Realtor associations even jumped into the mix with their own solutions. You don’t get deals across the finish line (confidently, securely and within local and state rules and regulations) without a well-managed process and the technology to support it.
It all starts with local and state forms. It used to all start with paper, then carbon paper. Today the process is a bit more sophisticated. The forms are digital, but they’re still forms. Any brokerage that wants to transact business needs to do so on the approved forms. However, there are very few companies that can provide easy and comprehensive access to those forms digitally due to copyright laws and licensing requirements. While a number of Digital Transaction systems (or transaction management systems) do provide integrated forms access, brokerages rely on a very small handful of companies for forms.
zipLogix has provided zipForm (or a derivation of it) for about 30 years and truly capitalized on its early relationship with NAR. One of its most formidable competitors was TransactionDesk from Instanet Solutions. Both are now part of LoneWolf Technologies. Another option on this front, Form Simplicity, offers similar services throughout Florida and the U.S.
While not the sexiest technology, as I mentioned, it all starts with forms. And options here are limited.
With all of the d*** disclosures required in a real estate transaction, you’d think this space would be more crowded. In some states (in particular in one that rhymes with malifornia), the disclosures seem to be more voluminous than the actual contracts.
Two companies have started to make a dent here, and it’s no surprise that they’re both in California. Disclosures.io, which got its start in 2016, and Glide, which was founded in 2018. Both have a focus on the disclosure side of things but Disclosures.io also provides offer management and activity tracking to provide a level of visibility into the process.
Neither company covers the entire U.S. as it’s got to be a painstaking process. However, there’s clearly a need to better manage this part of the process and I imagine others will start jumping into this, along with forms in general.
Even with digital forms, it wasn’t until passage of the Digital Signature Act of 1999 that digital signatures were widely recognized as legal and binding. This paved the way to transforming the process to entirely digital so that documents could be shared, reviewed, commented on, edited, then signed without ever having to go to print.
Numerous digital signature providers exist today, some wholly focused on the real estate space, but none come to mind more immediately than DocuSign. Started in 2003, the company was already well-positioned to make a massive dent in the eSignature space early on. A $5 million investment by NAR’sSecond Century Ventures in 2009 solidified DocuSign’s fate as the dominant player in real estate. It also made NAR about $20 million, based on the sale of stock after DocuSign filed its IPO in 2018.
Other popular players in this segment include ZorroSign, GoPaperless and HelloSign, which all provide broader eSignature solutions for real estate and beyond. Authentisign, another product of LoneWolf Technologies, is offered exclusively for real estate.
With 22 companies vying for business in this segment, it’s clearly the focal point for technology providers. So it’s no surprise that this is where the action is considering that productive brokerages and agents spend a significant portion of their energy marshaling deals through to close.
Some transaction management systems provide more functionality than others; for example, some incorporate digital forms, some add in things like agent onboarding and commission management and most include eSignature capabilities. But the main capabilities include an ability to start from a digital form, checklists to manage processes, a way to collaborate and communicate, the ability to manage folders and documents during and after the transaction and some form of compliance and file completion. Each has its own unique way of fulfilling these requirements and some have integrations with other systems making it easier to move data around.
A handful of players dominate this segment with products like TransactionDesk and zipTMS (both owned by Lone Wolf Technologies) being distributed widely by many MLSs. Others like SkySlope (owned by Fidelity National Financial), dotLoop (owned by Zillow) and Brokermint round out the top five players. There are an additional 18 products available including some developed by big names. They include DocuSign Rooms from DocuSign, BackAgent (now owned by PropertyBase) and Paperless Pipeline. Many players have highly localized businesses in specific regions and even states, and the two most recent entrants, Transactly and Offer to Close, also offer transaction coordinators along with technology. In fairness, several others do as well.
While there’s been a lot of investment in this area over the years, the most significant moves have been on the acquisition front rather than piles of money flowing into startups. The biggest moves include Lone Wolf Real Estate Technologies (powered by Vista Equity Partners) acquiring both Instanet and zipLogix, Fidelity National Financial buying SkySlope and Zillow picking up dotLoop. And with Docusign making investments here as well, there’s bound to be more news on that front.
Even with all of the options and the fact that many MLSs offer solutions as a member benefit, there are still tens of thousands of agents not using a digital system for transactions…or at least there were before this COVID-19 pandemic. Perhaps that’s all changed now and it’s no longer a nice-to-have but a need-to-have. One’s thing’s certain, if you’re doing any significant volume and you’re not using digital tools, you need to evaluate your options.
Mortgage forbearance opportunities, while beneficial to borrowers impacted by COVID-19, are putting an enormous strain on mortgage servicers of all sizes.
Within the last couple of weeks,Fannie Mae and Freddie Mac, along with other lending institutions, quickly stepped up to respond to the millions of people the COVID-19 pandemic has financially impacted. The White House and the Federal Housing Finance Agency even called for up to 12 months of mortgage forbearance for Americans who can’t pay their bills because of the COVID-19 pandemic.
But the challenge with mortgage forbearance is that someone has to pay the bill. According to Ginnie Mae, which currently holds 29.6% of the outstanding securities in the agency market, the cornerstone of their MBS Guaranty program “has been and will always be that the investors who support access to affordable mortgage credit for the U.S. Department of Housing and Urban Development, the U.S. Department of Agriculture, and the U.S. Department of Veterans Affairs borrowers by purchasing Ginnie Mae securities will receive payments of principal and interest on time and in full.”
It’s easier for servicers to follow this rule when there’s a handful of borrowers who need mortgage forbearance, but when the entire nation is fighting against the Coronavirus, it becomes a much larger and more concerning issue.
The mortgage industry’s biggest trade and lobbying groups crunched the numbers for the White House and top federal agencies last week to help them understand the gravity of the situation. In their letter, they stated, “To give one a sense of scale, if 25% of the nation receives forbearance for only 3 months, servicers will have to cover payments of roughly $36 billion. If they received it for 9 months, then the cost would exceed $100 billion.” For added context, the total value of the U.S. housing market came in at $30.9 trillion in the Q4 2019, according to the Federal Reserve’s Flow of Funds report.
In an effort to address the growing concerns and potential liquidity challenges faced by issuers, Ginnie Mae issued a statement on Friday that it would assert its authority to make changes to the requirements of its program. Ginnie Mae’s mortgage-backed securities program requires approved issuers who service MBS to send scheduled principal and interest (P&I) to investors and make various other payments in connection with mortgage loans.
Here’s where the problem lies for servicers when the entire nation could need mortgage forbearance. Issuers are required to make monthly payments to investors even when they don’t receive a borrower payment. In response to the challenges caused by the immediate need to advance required pass-through payments to investors, Ginnie Mae stated that it is using its power to tailor the existing disaster pass-through assistance programs to more suitably scale to the needs of this National Emergency.
Ginnie Mae laid out the following solution for issuers:
Ginnie Mae fully anticipates implementing within the next two weeks, via an All Participants Memorandum (APM), a Pass-Through Assistance Program (PTAP) through which issuers with a P&I shortfall may request that Ginnie Mae advance the difference between available funds and the scheduled payment to investors. This PTAP will be effective immediately upon publication of the APM for Single Family program issuers, with corresponding changes made to Ginnie Mae’s MBS Guide in due course. We anticipate publishing PTAP terms for HMBS (reverse mortgage) and Multifamily issuers shortly thereafter.
The guarantor’s announcement stressed that the PTAP should be a “last resort” financing option to alleviate a liquidity shortage faced by any Ginnie Mae issuers. “PTAP’s purpose will be to support the forbearance and loss mitigation programs of our insuring agency partners (FHA, VA and USDA) by minimizing potential disruption in the mortgage servicing market so that those federal mortgage insurance and guarantee programs can be administered efficiently and with maximum help to borrowers,” Ginnie Mae stated.
The Mortgage Bankers Association President and CEO Bob Broeksmit applauded the announcement from Ginnie Mae, stating, “MBA commends Ginnie Mae for its intention to create this program, which will allow many servicers to better help consumers affected by the coronavirus via mortgage payment forbearance. MBA looks forward to continuing to work with Ginnie Mae and other policymakers and stakeholders on ways to best protect consumers during this pandemic.”
Here we are yet again, an unexpected Refi boom in the middle of what most had planned and resourced as a 2020 buyer’s market.
Based on projections from the Mortgage Bankers Association, there will be a 36.7% increase in volume from 2019 closed refinance volume. And let’s not forget that the MBA is also calling for an 8.3% increase in purchase volume this year.
So this is the question to ask ourselves, “Have we better prepared from a process and technology standpoint compared to the last time we had this type of application spike?”
Or, did we get sucked back into hiring as many operations personnel as possible, hoping we can manually keep up with consumer demand? And, what happens after this ends?
Based on past experiences, we normally see layoffs or organizational restructuring. Let’s call it what it really is, the coronavirus conundrum. The problem of having a massive spike in volume, an absolute change in how and where our employees are working and a social unrest within the housing market.
This leads to a bit of panic and an even deeper desire to either refinance to reduce payment or get the equity out before a drop.
Over the last few years most lenders have scrambled or even sprinted towards technology-based shiny objects to solve these very issues we still see today. So we saw a massive lift in our efficiency, right?
From recent conversations with one of the top lenders in the market, I would argue that point. Playing a virtual game of tetris with vendors and systems we have, as an industry, put ourselves in an interesting corner.
At the end of the day, the consumer is the decision-maker on who to close with. Looking at an article released by Deloitte (Consumer Insights), not only is the consumer demographic changing but also how and when consumers decide on purchases is changing. The lenders that have found a way to give them a fluid experience in whichever method is best in their minds, wins. If you have found yourself wondering if what you have built truly solves both consumer needs and operational strains, now is the time to make those changes… or wait until the next coronavirus boom.
The scramble to functional technology
There is a rainbow in the middle of this mortgage boom, and I am not talking about gains in revenue. With millions of homeowners and home buyers quarantined at home, there is an opportunity to shine a bright light on process technology to fit this scenario.
It begins with the sense of consumer identity. At the very basic level, we have profile platforms that give consumers a way to place as much information about themselves into a sign-in based system and create an easier way to interact with financial institutions.
Really solid POS platforms do this today and newcomers, like Finlocker, are paving a different path but still under the same mindset. Other industries tied to financial services have already done this in the form of Clarity, Nerdwallet and even SoFi. Next we should ensure our manufacturing teams are working effectively, limiting tasks that could be solved with automation and by partnering with companies that use technologies such as computer vision and AI.
Being able to bring in talent that can easily understand the process without weeks or months of training will reduce the strain we do see from mass volume. The difficult decisions in all this come in the frame of integration/implantation. How do we best deliver such technology in systems we have built over the last decade?
The answer is simply to invest and be willing to change. This means either hiring teams of technology experts, including engineers, that can work through this opportunity, or bring in consultants that can quickly create roadmaps and execute with your stakeholders to accomplish those goals.
A lot of companies miss out on the productization of technology, meaning we have those tetris pieces but no solid lines. However, this can be solved by allowing product leaders to step in and work in a constant collaboration with the business side of the house to solve those problems.
Setting up a pivotable process now will pay dividends in the near future and set your company up for long-term success. As a quote from John D. Rockefeller puts it, “Don’t be afraid to give up the good to go for the great.”
International Women’s Day is a great time to consider the powerful influence that women exert not only in the mortgage industry but in their communities.
In honor of International Women’s Day, Haley Parker, area business development manager at Fairway Independent Mortgage Corp., sat down with HousingWire to talk about the biggest challenges women face in the industry, along with some heartfelt advice on how women can move into more leadership positions.
Parker encourages women to express who they are and their passion to get the job done — to show up and make a difference. And as they do, they lift even more women within the industry.
“A confident woman who knows her worth, is courageous enough to think for herself and understands the strength in adversity, personally and professionally, will become who she is always meant to be,” Parker said. “You should never overlook the power and impact of a woman who leads with her heart on her sleeve.”
In addition to the women working in the industry, you could argue that even the housing market’s future is female. A new report from Compass and Better.com found that not only are women buying more homes, but they have higher credit scores.
Last year alone, Better.com reported that the majority of women who are married co-borrowers made more than their spouses. Women earned an average monthly salary of $5,666 versus $3,035 for men.
From the team making the loans to the borrowers the industry serves, women are taking a more prominent seat at the table. International Women’s Day offers one day to remember the amazing impact women make, but let’s remember to carry this energy throughout the year, supporting women all-year long.