IN PARTNERSHIP WITH THE MORTGAGE BANKERS ASSOCIATION'S (MBA'S) DIVERSITY and Inclusion Committee, Mortgage Banking is launching a new column based on interviews with industry experts talking about topics related to diversity. The column will feature interviews with some of the current members of MBA's Diversity and Inclusion Committee.
This month's interview features Shawn Krause, executive vice president for Quicken Loans, Detroit.
Q: The progression of a home loan from origination to funding has many moving parts. What role specifically does your team play in making sure other folks in the company remain trained, compliant and up-to-date on all aspects of this?
A: The Government Relations team at Quicken Loans is the voice in Washington, D.C., for all of our family of companies, ensuring we are represented and our voice is heard in all policy discussions. We often advocate on behalf of the entire mortgage industry, and work to help government officials understand the complexities of the industry.
Another important piece of our work is identifying areas for improvement. The mortgage origination and servicing spaces have a lot of regulation, rules and complexities, and we work tirelessly to ensure the rules in place are as clear as possible and always in the consumer's best interest.
Q: The world of both Washington, D.C., and mortgage banking tends to be male-dominated. How do you work past this, and have you ever personally experienced any effects of the "glass ceiling"?
A: There have been instances in my work where I am the only female in an industry meeting, sharing the room with 60plus men. But at the end of the day, man or woman, what really matters most is that everyone is working hard to make sure the interest of our clients are always central to everything we do as an industry.
Glass ceilings simply don't exist at Quicken Loans. We have a guiding principle at our company--or ISM, as we call them internally--that says, "It's not about who is right, it's about what is right." I've been at Quicken Loans for more than 25 years, in almost every area of our business, and this philosophy is...