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 events

Womens 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