Women In Housing-2015

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Th e M Rep o RT | 33 Power Players Special Section "Having spent about equal time in the private and public sectors of mortgage servicing, I have found that government provides great opportunities for women and I would encourage younger women to consider starting their careers in public service. " G rowing up, Laurie Maggiano didn't have to look far to find a strong, female role model. "My mother was a gracious and powerful woman who refused to acknowledge limits or labels," Laurie told us. The true renaissance woman, Laurie's mother, "moved, appar- ently seamlessly, through her life from fashion model for Macy's in the 1950's to mother of five, revered teacher, highly successful Realtor, political activist, professional genealogist, and beginning at age 65, author of six history books!" Considering the example that helped shape her, it is no surprise that Laurie has climbed the ranks in both the public and private sec- tor of the mortgage industry, while still keeping the same admirable life-work balance that her mother modeled. Today, Laurie acts as Program Manager for Servicing and Secondary Markets for the Consumer Financial Protection Bureau (CFPB). Both in her current role at the CFPB, her past role as Director of Homeownership Policy at the U.S. Department of the Treasury (where she was one of the architects of the Making Home Affordable Program), and beyond, Laurie has devoted her entire career toward the mission of help- ing homeowners avoid prevent- able foreclosures and achieve the dream of homeownership. As such, she has seen first hand the struggles that women face in the housing market. "With respect to homeownership opportunities for women, federal law prohibits discrimination in housing based on gender but the financial reality is not as accommodating. Women are still subject to pay disparity. Federal origination and servic- ing rules require lenders to treat all equally qualified borrowers alike, but until we fix the wage gap, housing barriers for women remain," she noted. In terms of women working within the mortgage industry, Laurie highly recommends public service, saying, "Having spent about equal time in the private and public sectors of mortgage servicing, I have found that gov- ernment provides great oppor- tunities for women and I would encourage younger women to consider starting their careers in public service. Especially at CFPB, there is a culture of hiring and encouraging talent irrespec- tive of gender and of promoting career development. The interns and recent graduates that I work with are so smart and accom- plished, I am in awe of them." Otherwise, Laurie advises women in the industry to keep their focus on the task at hand. "Don't worry so much about where you want to be five or 10 years from now. Ask yourself, is what I am doing now meaning- ful? Does it help someone? Do I feel joy doing it? If the answer to any of these questions is no—find something else to do." This very advice has served Laurie in her own life and prompted her to move on from work environments that she found stifling. In 1975, after returning from her honeymoon, Laurie took the first job she found as a copy editor at the Arizona Real Estate Press. "I liked the job, which gave me the op- portunity to meet and interview many movers and shakers in Arizona government and busi- ness, but the owner of the paper was a classic male chauvinist who displayed little respect for women." Her response was to study for a real estate broker's li- cense and become her own boss. Today, Laurie has found a job she enjoys doing, but the accom- plishments in her life that she is most proud of have nothing to do with the office. "I am most proud of the fact that my husband and I raised two amazing sons, each fighting for social justice in his own field and that they in turn are proud of their mom. Every other accomplishment pales in comparison," she said. Laurie Maggiano PrograM Manager for Servicing and Secondary MarketS, conSuMer financial Protection Bureau

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