Tag Archives: Diversity

The Five Star Diversity Symposium was a day-long event focused on advancing the conversation on diversity within the mortgage industry, and featured keynote addresses from industry leaders as well as panel discussions. Represented were companies and government agencies within the mortgage industry, including the Federal Housing Finance Agency (FHFA), Freddie Mac, Fannie Mae, the Consumer Financial Protection Bureau, and the Federal Home Loan Bank of Dallas.

The Consumer Financial Protection Bureau (CFPB) released a report outlining the Bureau’s strategies and efforts to promote diversity and inclusion within the mortgage industry. The report is a readout of an industry roundtable meeting held by the CFPB’s office of Minority and Women Inclusion (OWMI) with the Mortgage Bankers Association. Participants in the meeting included representatives from the mortgage industry, including from larger and smaller banks, as well as some nonbank financial companies.

The second annual Five Star Diversity Symposium will be a day-long event focused on advancing the conversation on diversity within the mortgage industry featuring keynote addresses from diversity leaders, roundtable discussions, and panels covering the most pressing diversity and inclusion issues facing our industry. This gathering of leaders will lay the groundwork for the coming year by engaging in important conversations covering an array of topics surrounding the advancement of inclusion in our industry.

In order to maximize transparency, the agencies are strongly encouraging the financial institutions to disclose diversity policies and practices on their websites, and also include information related to their self-assessments.

U.S. Senator Elizabeth Warren (D-Massachusetts) has shown in the past that she is not afraid to aggressively confront members of her own party on issues that she is passionate about.

The final rule is the result of recommendations of a 2010 report from the Government Accountability Office; stakeholders and HUD program participants who had asked for clarification, technical assistance, better compliance, and more meaningful outcomes; and feedback from significant public input and comments received during the final rule's development.