TheMReport — News and strategies for the evolving mortgage marketplace.
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24 | TH E M R EP O RT FEATURE "Be sure that if you move posi- tions, you're moving for the right reasons," Reaves said. "Don't always follow the money but always do your best, because those opportuni- ties are going to come. You're never going to have utopia, so be the best at what you're going to do." Upward Mobility F emale representation tends to lag in the higher levels of business— at the C-suite and managerial level. According to Leanne Spies, SVP of Asset Management and Opera- tions at Freddie Mac, she's always noticed the disparity between men and women in the workplace—es- pecially in the higher positions of organizations she's worked in. Still, she noted, the situation is improving—and so are the op- portunities. "As more women fill the roles of VP and SVP, the greater the opportunity for women to grow into positions like EVP and CEO," Spies said. "When I began, that pool barely existed. Today, that talent pool is becoming ever deeper—and there's a more con- scious effort to build it." There's a serious lack of women on the technology side of the industry, according to Pyle, but it was even worse early on in her career. There was a time she felt she had to constantly prove herself and her abilities—something that is still a challenge for many women today. "The biggest factor for me was that there were no female role models or mentors available," Pyle said. "There weren't women that were in technology in the mortgage industry that were in management roles or executive management roles that I could look to for mentor- ing, role modeling, or helping to understand what a good path for my career would be." Because of this, Pyle now makes herself available to mentor other women—and men, too—in the industry. According to Pyle, mentorship is important for the development of all members of the mortgage industry, especially those just starting out. Guiding new hires is key, she said—and more individu- als should take the time to do it. "As leaders and women in this market, we need to be sure to include a focus of drawing young people into the mortgage work- force thereby creating a sustainable future through the younger genera- tions' ideas and retention. Making sure they actually stick around for the future is key," Pyle said. The mortgage industry tends to be like a small family, and Pyle noted that everyone knows every- one. This elite, tight-knit com- munity doesn't easily lend itself to the mentorship or retention efforts that are necessary to entice today's younger generations. "I hear a lot of people these days saying, 'Well, you weren't here when such-and-such hap- pened in 2007, so you can't possibly understand,'" Pyle said. "They could and would if we just explained it to them." But mentorship doesn't have to just be old on young or woman on woman. Garcia-Gilbert said she actually prefers having male mentors. To her, males offer a different perspective, and they can often challenge traditional as- sumptions about gender roles. Diving Deep W hile mentors can certainly help encourage the develop- ment of more women in the in- dustry, according to Garcia-Gilbert, females can also take the onus upon themselves. She said immersing themselves in the industry—really understanding its inner workings— is the best way to move up. Networking is also a great op- tion, according to Spies. She said women should take the time to network with as many people as possible—internally, externally, and at all levels of the food chain—be- cause ultimately, you never know when your paths will cross again. "Most importantly, do not be intimidated by the lack of women involved in a situation or in an organization," Spies said. "There are many times where you might be the only woman in the room. However, there are plenty of wom- en around—and there are plenty of women-focused organizations in which you can be involved." And it's true. Many organizations in the industry have created deep diversity and inclusion initiatives, such as the American Mortgage Diversity Council—looking to better recruit, hire, and retain minority and female employees. Cerita Battles, SVP and Head of Retail Diverse Segments at Wells Fargo, said diversity and inclusion is an important part of her organi- zation's values and something the Wells Fargo team works toward every day. This allows the organi- zation to not only be stronger and more successful as a company, but also to better mirror the markets that Wells Fargo serves—markets that are increasingly becoming more female centric. Standing Out H iring more females is only one part of the equation, though. Once more women join the industry—and business in general—they also need to stand out and make themselves known in a historically male- dominated environment. For Battles, she's found that two leadership strengths, in particu- lar, have helped her navigate the workplace: "Strategic Alignment," which helps to define common goals, and "Driving for Results," which ensures all activities and relationships she engages in either helps her meet or exceed her goals. "I heard this statement at a con- ference, and it definitely speaks to my leadership style and focus: 'Your gift or skill creates the opportunity to get you in the door, but your character is what keeps you there,'" Battles said. "It's the difference be- tween what you do and how you do it. How you do it will be the thing that people remember or the thing that sets you apart." As far as advice to those entering the industry, most experienced fe- male veterans say it all comes down to asking questions. It seems like an elementary concept, but it's one that can be overlooked when nerves and drive for success come into play. Krall noted women shouldn't be afraid of making mistakes, because that's exactly what will allow them to move forward—and upward. Ultimately, she said, that requires a little self-trust. "As females, I think we second- guess ourselves a lot and perhaps underestimate the knowledge and the value in our own thought processes," Krall said. "You just have to trust yourself to know that you're doing the right thing and you're working through it with others—you're talking to your peers. Take the initiative." BRIANNA GILPIN, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation's leading diversified media and information services companies. To contact Gilpin, email brianna.gilpin@ thefivestar.com. "As more women fill the roles of VP and SVP, the greater the opportunity for women to grow into positions like EVP and CEO." —Leanne Spies, SVP of Asset Management and Operations, Freddie Mac