This article originally appeared in the March 2025 edition of MortgagePoint magazine, online now, and is co-authored by Selena Townsend.
The mortgage industry has traditionally been dominated by men, and although we have made laudable progress, women in our space still face challenges in terms of pay equity, bias, and advancement.
According to zippia.com, of the nearly 240,000 Loan Officers in the U.S. 55.3% are men. Even though women hold more than 44% of the positions, equal pay has not caught up consistently with women, who make on average 87% of what men earn.
Women do hold a dominant percentage of Mortgage Processor positions, at 78%, and 56% of marketing positions. While that is an indicator that have made some healthy inroads into the business, those roles are traditionally lower paying than the more lucrative loan officer and executive roles and are usually the first to experience a layoff when business contracts.
And although women have made some advances into leadership positions, it has not been easy. Historically, women have had to traverse an arduous path into the upper echelons of a company’s hierarchy. One of the ways they found success in this process was by supporting each other in those efforts.
Long before corporations put structures in place to help women rise up through the ranks, women have relied on their own initiatives to overcome barriers. They have accomplished this through tried-and-true programs such as networking, education, and mentorship.
Networking
Trailblazing women in every industry have often found themselves alone and struggling to be heard.
This is true for women at the highest levels, including the White House. In George Stephanopoulos’s 2024 book, The Situation Room, he notes the dearth of women working in the Situation Room from its inception in the 1960s. Even when women began to gain access to the Sit Room, he recounts their frustration when their suggestions were ignored, or even worse, were acted upon and then credited to one of the men at the table.
Madeline Albright—who had her own challenges in being heard in her position as Secretary of State—was quoted as saying to her colleagues, “Women, you have to stop it! You’ve got to have a network.” She encouraged women to speak up for themselves and for each other in the meetings. The women did just that, gaming the system by coordinating with each other in advance of meetings, monitoring the course of the discussion, and ensuring they and their colleagues were heard and credited.
Networking, especially in challenging circumstances, can help women navigate their situation with more confidence and vision.
Such was the case with University Federal Credit Union Chief Lending Officer Christy Soukhamneut who spoke on the podcast Lessons From Last Time with Ken Perry about her own personal challenges in navigating the past few years, which featured the COVID shutdown followed by a deteriorating and volatile mortgage market.
“I feel so lucky that I had a group of amazing and strong women who supported me through that,” Soukhamneut said. “I had recently joined a women’s networking group with other senior women leaders from outside of our industry. Having this group of women around me brought perspective because they weren’t all in our industry. They would say ‘we’ve been through this here’s what happened’ or ‘this is what I see from the outside.’”
Soukhamneut said the women provided encouragement and support by helping her see how to use the situation as an opportunity to explore new horizons.
Small group networking is valuable, but the mortgage industry also has its share of professional organizations that provide networking opportunities on a larger scale.
The Mortgage Women Leadership Council (MWLC) is a network that empowers and advances women leaders in the mortgage industry. Members gain access to a platform where women executives can amplify their voices and influence through their own publication, exclusive sponsored programs, email newsletters, and impactful events.
Kelly Hendricks, SVP of Delmar Mortgage, said she has experienced firsthand the challenges that women face in leadership within the mortgage sector.
“These challenges led to a profound realization—the need for a dynamic network to empower women in our industry,” Hendricks said. “This realization is the driving force behind the creation of the Mortgage Women Leadership Council. Our mission is clear: to promote and empower women’s leadership in the mortgage sector. The council aims to create a supportive environment for professional growth, mentorship, and networking.”
Education
The second pillar for advancing women in the industry is education. Several organizations provide opportunities for women to expand their knowledge, expertise and leadership skills.
MWLC sponsors the Mortgage Star Conference each year to help female mortgage professionals elevate their skills, expand their network, and gain insights from dynamic leaders in the financial mortgage arena.
Founded in 1964, the National Association of Professional Mortgage Women (NAPMW) is particularly dedicated to education for women in the mortgage business. The organization hosts a national educational conference in the spring featuring motivational speakers, as well as presenters from across the mortgage industry.
Mentoring
The final—and arguably the most important—pathway for women leaders in the industry is through mentorship.
The benefits of mentoring are well known. A mentor in the workplace can enhance a woman’s professional development, improve work performance, be a conduit for generating ideas for departmental improvements, and boost the mentees’ confidence and overall contribution to the company.
For personal development, a mentor can provide a confidential sounding board for problems and challenges encountered and provide insight and direction for future aspirations.
Some regional organizations provide formal mentor programs, such as New York-based Women in Housing and Finance. This one-on-one mentoring program is designed to empower talented women in the affordable housing Industry and cultivate a community of thought leaders and influencers. Members include women in finance and banking; architecture, engineering, and construction; government; historic preservation and more, providing a rich tapestry of information for the participants.
In the very highest reaches of corporate leadership, C200 stands out as the most august mentoring program in the country. C200 is a professional peer community that encompasses C-suite executives in the world’s best-known corporations and trailblazing entrepreneurs. Members of this elite mentoring program lead companies and business units, holding titles such as CEO, COO, Founder, General Manager, and Operating President, and maintain significant P&L responsibility.
“Our members have the knowledge and experience to serve as mentors and advisors to empower the greater C200 community of all women in business, current and rising leaders,” the organization notes. “Together, members educate, support, advise, and inspire women across business and industry.”
Powerful Impact
Women are having a systemic impact on every aspect of the mortgage industry, and much of their success can be credited to the women who came before them and shared their wisdom.
Women are proving key to helping the industry reimagine its future. Their voices have become a powerful influence for innovation and a conduit for change in the culture of the companies in which they serve. And most importantly, they have been at the forefront of creating a diverse and inclusive workforce that matches up well with the diverse clientele that every mortgage company desires to serve.
