TheMReport

December 2016 - Getting Serious About Diversity

TheMReport — News and strategies for the evolving mortgage marketplace.

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MNOTES D iversity is defined as "the art of thinking together, independently" according to magazine magnate Malcolm Forbes. It is indeed an art form to bring many individuals from many different backgrounds and cultures together to meld their individuality into a camaraderie to work toward one common goal, which, in this case, is to succeed in business. As a Hispanic woman in business—the theme of diversity and inclusion has long been an important one to me personally. However, on a broader scale, the importance of diversity and inclusion in business has never been more evi - dent than it has in the last few years, as many companies have made diversity and inclusion a top priority. Diversity is no longer an option–it is something that businesses must embrace and fully practice in order to succeed. If you want to know the latest on diversity and inclusion in the mortgage industry, you have come to the right place. In this issue, we hear from several professionals in the industry who reflect on the progress the industry has made in the areas of diversity and inclusion. In our cover story, "Straight Into the Fire," Ocwen Chair of the Board Phyllis Caldwell discusses taking on challenges in the industry in an exclu - sive interview with staff writer Brian Honea. In "From Policy to Practice," freelance writer Phil Britt talks about how some diversity-themed laws are af- fecting the housing industry. For good measure, we have included an exclusive interview with former Congressman Barney Frank, one of the architects of the now famous Wall Street reform legislation that bears his name. Continuing with the diversity and inclusion theme, Sandra Thompson, the FHFA's Deputy Director of the Division of Housing Mission and Goals, offers "A Broader Perspective" on diversity and inclusion in the industry. Joanne Gaskin, Senior Director with FICO, examines the role alternative credit scor - ing models can play in diversifying homeownership in "Alternative Data is the Key." In "Serving the Underserved," Matthew Cooper, CEO and co-founder of Earnup, reviews how new technologies are offering monitories easier access to credit and homeownership. We hope this issue of MReport will provide you with greater insight on how businesses are succeeding by embracing diversity and inclusion—and how they are "thinking together, independently." As always, we welcome your feedback on this important topic. All the best, Rachel Williams Editor-in-Chief 2 | TH E M R EP O RT EDITOR-IN-CHIEF Rachel Williams ONLINE EDITOR Brian Honea ONLINE CONTRIBUTORS Kendall Baer Scott Morgan COPY EDITORS Krista Franks Brock Alison Rich Aly Yale CONTRIBUTORS Phil Britt Matthew Cooper Joanne Gaskin CREATIVE DIRECTOR Jason Stone ART DIRECTOR Jonathon Won DESIGN DIRECTOR Sean Walker ADVERTISING Suzanne Andresen (207.443.3314) Robyn Clayton (214.525.6716) Kevin McCrea (214.525.6756) Jason Myers (214.525.6760) PHOTOGRAPHER Sean Harris, Wonder101 CORPORATE OFFICERS CHAIRMAN & CHIEF CREATIVE OFFICER Mark Hulme PRESIDENT & CHIEF EXECUTIVE OFFICER Ed Delgado CHIEF FINANCIAL OFFICER John Harrison DIRECTOR OF HR/ACCOUNTING Ernest Gillespie ART DIRECTION Jason Stone Sean Walker Jonathon Won No part of this publication may be reproduced without written permission from the publisher. ©2016 REO Publishing LLC All Rights Reserved This publication is intended to provide accurate, authoritative, and detailed information in regard to the subject matter covered. All written materials are disseminated with the understanding that the publisher is not engaged in rendering legal advice or other professional services. Under no circumstance should the information contained herein be relied upon as legal advice as it is designed to be a source of information only. MReport strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MReport does not guarantee the accuracy of the information and is not liable for any damages, losses, or other detriment that may result from the use of these materials. © 2011 First American Financial Corporation and/or its affiliates. All rights reserved. YOUR business is OUR business! First American Mortgage Services is laser focused on mitigating YOUR cost, risk and exposure by aligning our advanced solutions with YOUR strategic objectives and compliance needs. We are the New First American, over 120 years young, strong and financially secure. Insight | Innovation | Integrity First American Title Insurance Company and First American Mortgage Services make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. FIRST AMERICAN and FIRST AMERICAN TITLE are trademarks owned by First American Financial Corporation. 2 | Th e M Rep o RT Publisher Jon Ball contributing editor Abby Gregory online editor theMrePort.coM Ryan Schuette coPy editors Alison Rich emily White Youree heather hill contributors phil Britt Bob Calandra eric Fox Jack Konyk Mark Lieberman creative director Jason Stone art director Jonathan Won associate art directors Bruce Sons Chanyanont Loha-Unchit design director Sean Walker advertising Dina Duncan (214.525.6740) Jason Myers (214.525.6760) Andi Zimmerman (214.525.6724) technology Toby Tull Brandon Shangraw social Media Leon McKenzie Ani Vera circulation/corresPondence Celina Avila corPorate officers chairMan & chief creative officer chief executive officer Mark hulme edward R. Delgado business develoPMent Andi Zimmerman chief financial officer John harrison director of huMan resources ernest Gillespie director of oPerations Toby Tull account executives senior account executive Donna Lott (214.525.6792) sPonsorshiPs Jason Myers (214.525.6760) account executives Renee Charles (214.525.6742) Thomas Griffin (214.525.6754) Kristin Larson (214.525.6713) Ryan McLemore (214.525.6706) Marketing Travis Bogdon Matt hulme Production Kyle Curtis Miguel Martinez Christian McCrossan concierge Celina Avila art direction Jason Stone Sean Walker Jonathan Won No part of this publication may be reproduced without written permission from the publisher. ©2011 Reo publishing LLC All Rights Reserved This publication is intended to provide accurate, authoritative, and detailed information in regard to the subject matter covered. All written materials are disseminated with the understanding that the publisher is not engaged in rendering legal advice or other professional services. Under no circumstance should the information contained herein be relied upon as legal advice as it is designed to be a source of information only. MReport strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MReport does not guarantee the accuracy of the information and is not liable for any damages, losses, or other detriment that may result from the use of these materials. FORDEFAULTSERVICINGPROFESSIONALS THEFIVESTARINSTITUTE Follow us. Thinking Together, Independently

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