The Mortgage Bankers Association (MBA)
has announced that four companies have been recognized as a 2018 Residential Diversity and Inclusion Leadership Award recipient. The annual awards recognize MBA members for their leadership efforts in diversity and inclusion in two award categories: Organizational Diversity and Market Outreach Strategies.
"For the third straight year, we received a plethora of quality submissions from members who are developing valuable initiatives and programs that support the industry’s ongoing commitment to diversity and inclusion,” said Chris George, 2019 MBA Chairman, and Founder, President and Chief Executive Officer of CMG Financial. “This year’s winners reflect the best of those submissions, and they deserve to be celebrated for creating positive change and progress in the mortgage industry and for their employees and customers.”
This year's submissions were reviewed by two groups of judges consisting of members of MBA's Diversity and Inclusion Committee and MBA staff. The companies were broken into two groups, based on overall number of employees, then were scored by the quality of their overall submission, identification of a target audience and annual goals, demonstration of a tangible benefit to participants and the overall enterprise, and the replicability of the program. Innovative program approaches and potential success in broadening the culture of the organization through the values of diversity and inclusion were also considered.
The four 2018 Residential Diversity and Inclusion Leadership Award Winners are:
Organizational Diversity and Inclusion Award: Genworth Mortgage Insurance and Veterans United Home Loans
The Organizational Diversity and Inclusion award celebrates company initiatives that were specifically developed and designed to increase diversity and inclusion within the leadership and employee base of member companies, thereby leading to a mortgage banking industry that may better reflect and understand its customers.
For a company with less than 1,000 employees, Genworth Mortgage Insurance
is being recognized for evolving their recruiting-centric diversity and inclusion strategy to one focused on helping employees understand the implications of their words and actions on their colleagues and the world around them. Their efforts have resulted in a working environment for open dialogue and active listening among employees, as well as an understanding of each of their roles in fostering an inclusive workplace.
For companies with more than 1,000 employees, Veterans United Home Loans
is being awarded for its diversity recruitment, community partnerships, unique employee programs and diversity internships, which have created an inclusive work environment that welcomes and encourages employees to deliver results through their own unique skill sets, backgrounds and perspectives.
Market Outreach Strategies Award: Alterra Home Loans and First Citizens Bank
The Market Outreach Strategies award recognizes company initiatives that are specifically developed and designed to increase outreach, marketing, and products to attract customers from the industry's fastest growing market segments.
For companies with less than 1,000 employees, Alterra Home Loans
is being recognized for its committed goal in helping minority first-time homebuyers build wealth through homeownership. Out of the 6,600 transactions they underwrote in 2017, 82 percent were from their target audiences of Hispanic and African American communities. A key to their success has been adding key leadership members from diverse segments of the population that understand the culture and are involved in their communities. Eighty percent of their current sales force is of a minority segment, helping to drive their message home at a local level.
For companies with more than 1,000 employees, First Citizens Bank
is being awarded for having a dedicated team of Mortgage Banking Market Specialists in place to increase homeownership opportunities for diverse customers in some of the bank’s large metropolitan markets. This dedicated team helps customers and prospects understand the products and services First Citizens offers, which are designed to meet the individual financial needs of its diverse customer base.