MBA Announces 2020 Diversity and Inclusion Residential Leadership Award Winners
WASHINGTON, D.C. (October 19, 2020) – The Mortgage Bankers Association (MBA) today announced during its virtual 2020 Annual Convention & Expo that seven companies have been recognized as 2020 Diversity and Inclusion Residential Leadership Award recipients. The annual awards recognize MBA members for their leadership efforts in diversity and inclusion in two award categories: organizational diversity, and inclusion and market outreach strategies.
“We are now in the fifth year of recognizing companies that have gone above and beyond to cultivate a diverse and inclusive environment in their organizations,” said Susan Stewart, 2021 MBA Chairman, and Chief Executive Officer at SWBC Mortgage Corporation. “I am confident that these programs will continue to push the industry forward in its commitment to diversity and inclusion.”
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 seven 2020 Diversity and Inclusion Residential Leadership Award winners are:
Organizational Diversity and Inclusion award: Mr. Cooper, United Nations Federal Credit Union, and Radian
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 companies with more than 1,000 employees, Mr. Cooper is being awarded for its initiative in creating an inclusive work environment and boosting employee engagement efforts. Mr. Cooper boasts several D&I programs, including its Diversity Day, Cooper Community Conversations, and Social Justice 365 programs. In light of recent social events, Mr. Cooper has fostered a robust support system that assists its employees to be open about their feelings and share their stories.
For companies with less than 1,000 employees, United Nations Federal Credit Union (UNFCU) is being recognized for its impressive metrics and multifaceted programming. UNFCU creates an approach where employee recruitment and retention, and mentorship are at the forefront. UNFCU’s D&I program also addresses external-facing issues regarding D&I – including corporate branding, ensuring UNFCU’s consumer base is diverse, improving community relations, and supplier diversity.
For the non-lender category, Radian is being recognized for its Inclusion and Diversity (I&D) program, which boasted impressive metrics with a strong emphasis on talent acquisition. Radian’s I&D Leadership Council’s efforts focused on sourcing new talent from a diverse slate as well as offering numerous training opportunities for its employees.
Market Outreach Strategies award: Banner Bank, Bank of America, FirstBank, and Finicity
The Market Outreach Strategies award recognizes company initiatives specifically developed and designed to increase outreach, marketing, and products to attract customers from the industry’s fastest-growing market segments.
For companies with more than 1,000 employees, Banner Bank is being awarded for its Becoming a Truly Community Bank campaign, which stood out for its intentional alignment with internal and external programs, clear goals, and metrics. The campaign also reflected Banner Bank’s commitment to creating new positions, financial education, and expanding office locations to increase access and build community relationships.
For companies with more than 1,000 employees, MBA also recognizes Bank of America for its Community Homeownership Commitment (CHC) program, which demonstrated defined D&I goals accompanied by impressive metrics. Bank of America’s CHC campaign focused on training for community lending officers, building strategic community partnerships, grant programs, and diverse marketing and educational strategy to reach potential diverse homebuyers.
For companies with less than 1,000 employees, FirstBank is being recognized for its initiative focused on product development and partnerships. FirstBank’s initiative also concentrates on talent retention and providing numerous training opportunities and resources.
For the non-lender category, Finicity is being recognized for its unique platform to provide a rich landscape of creditworthiness for borrowers. Finicity also boosted its efforts to improve access to homeownership.
MBA’s Commercial and Multifamily D&I awards process is underway. The awards will be presented at the 2021 CREF/Multifamily Housing Convention & Expo.
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