International Women's Day provides a powerful platform for the mortgage industry to demonstrate its commitment to gender equality and women's empowerment.
International Women's Day (IWD) is a global day celebrating women's social, economic, cultural, and political achievements. It also marks a call to action to accelerate women's equality. The mortgage industry, a critical sector of the housing finance market, can play a significant role in promoting gender equality and supporting women's advancement.
Every year, International Women’s Day gives us a moment to celebrate the incredible women shaping industries — including mortgage and real estate. But beyond celebration, how can we use this day to drive real change and open more doors for women in housing finance? Instead of just sharing my thoughts, I went straight to the source and asked three powerhouse women in the industry what success looks like in their careers. Here’s what they had to say.
Lindsay Frangie, Branch Partner, Alcova Mortgage: “I love this career because it is constantly changing, and I get to help people and families build lasting relationships with business partners and the borrowers I help with home financing. Don't let anyone tell you this is a man's industry! Women are highly successful in the mortgage industry because we are great at multitasking, complex problem solving and forging strong interpersonal relationships with the families we serve.”
Denise Hosek, Senior Loan Officer, HMA Mortgage: “There are far more women than men who are known to have a ‘nurturing personality.’ If that is you, having that tone with your clients is okay. If you are deeply vested in the best outcome for your clients, you can show that in your language. When I'm chatting with first-time homebuyers, sometimes I say things like, ‘I'm going to take off my Mortgage Lady hat and just talk to you like I'm your favorite aunt. Although you are qualified for this price, I want to ensure you are comfortable with the payment that goes along with that.’ Or, ‘How does that make you feel?’ You may form deeper relationships. The goal with each transaction in our industry is to form clients for life. It's okay to put some of your heart into that relationship.”
Ace Woods, Co-Founder and Director of Real Estate, Revest Homes: “I love the real estate industry because it has given me both financial freedom and fantastic work-life balance. I also love that every day is different. Lastly, I love helping families make some of their biggest financial decisions and also helping them to build wealth. Going through life changes with your clients over time is really rewarding. That said, it can be a tough industry to succeed in if you are not consistent and treat it like a business. Being a self-employed entrepreneur has been a joy for me, but at times it can be tough with no one there but yourself to hold you accountable. My best advice is to stay consistent and keep showing up. Real estate is my way of life and it doesn't feel like ‘work’ because I truly love the multi-dimensional aspect of it.”
Clearly, these women’s experiences prove that the industry has achieved so much when it comes to gender equality. But there is always more work to be done and more progress to be made. This year’s International Women’s Day is themed “Accelerating Action,” and I believe there are several key ways we can collectively accelerate action in the name of women's economic empowerment within this industry.
- Establish formal mentorship and sponsorship programs to support the career development of women within the industry. It is critical to offer training and development programs designed to equip women with the skills and knowledge needed to advance into leadership positions.
- Provide the younger generation with access to quality education and training. To this end, we should explore ways to establish scholarship and grant programs for women pursuing careers in the mortgage industry (and related fields), as well as ensuring that they are guided and supported along the way.
- Review recruitment and hiring processes to eliminate bias and attract a diverse pool of candidates.
- Collaborate with schools and universities in our local areas to help develop curriculum and training programs that prepare women for careers in the housing finance sector.
International Women's Day provides a powerful platform for the mortgage industry to demonstrate its commitment to gender equality and women's empowerment. By aligning with the IWD's key areas for accelerating action, the industry can drive meaningful change, support women's advancement, and contribute to a more equitable and inclusive housing finance sector.
