Women Are Shaping the Future of the Mortgage Industry

By Chrissy Brown, Chief Operations Officer at Atlantic Bay Mortgage Group

The mortgage business has traditionally been a male-dominated industry, but that’s changing. More women are stepping into leadership roles and making their mark, bringing fresh ideas and approaches that are transforming the field.

Women now represent about 47% of the workforce in the financial services sector, but in mortgage-specific roles, that number is closer to 58%. Despite this, only 29% of executive or senior-level positions in finance are held by women. This gap is even wider in mortgage banking, where women are underrepresented in top leadership roles, even though they make up most of the workforce.

So, what’s keeping women from climbing the corporate ladder? Gender discrimination, fewer mentorship opportunities, and the struggle to balance demanding work with home responsibilities have all played a part. Despite these challenges, women are still pushing forward and succeeding.

One of the key strengths women bring to the mortgage industry is relationship-building. This business thrives on trust and long-term client connections, and women are particularly strong in these areas. Studies show that 61% of borrowers prefer working with female loan officers, citing better communication and more personalized service. As the needs of clients become more complex, these skills are proving to be invaluable.

Female leaders are also driving innovation. A 2020 study found that companies with more women in leadership roles were 20% more likely to implement flexible work policies and adopt new technologies. In the mortgage industry, where outdated processes can slow things down, this push for modernization is crucial. Women are at the forefront of embracing tech solutions that make the lending process smoother for both employees and clients.

But while women are changing the game, true equality is still out of reach. Only 13% of women in mortgage banking make it to C-suite positions. The barriers to entry are real, from unconscious biases in hiring to fewer opportunities for advancement. Companies need to step up their efforts to create clear career paths for women, offering mentorship programs and actively working to eliminate biases that limit growth.

This isn’t just about doing the right thing for women—it’s about making the mortgage industry better as a whole. Studies show that companies with diverse leadership teams perform better financially. A recent report from McKinsey found that gender-diverse companies are 25% more likely to achieve above-average profitability.

The mortgage industry needs these fresh perspectives and ideas, and as more women move into leadership roles, they’re pushing for changes that benefit everyone, such as  flexible work

environments, more efficient processes, and a better understanding of client needs. It’s not just about filling a quota, it’s about making the industry smarter and more responsive.

Women are already making waves in the mortgage industry, and the data shows that they are just getting started. As more women step into leadership and bring new approaches to the table, they’re helping shape a stronger, more resilient future for mortgage lending. It’s time for the industry to fully embrace what women bring to the table—not just for the sake of fairness, but for the future success of the business.