By: Megan Anderson, Vice President of Marketing, MBS Highway

“When a door is hard to open, and if nothing else works,

sometimes you just have to rear back and kick it open.”

– Muriel Siebert

When Lew Ranieri introduced the concept of a mortgage-backed security in the 1970’s, the secondary mortgage market was a man’s world, much like many industries at that time.

Muriel “Mickey” Siebert, who became known as the first woman in the world of finance, was determined to change that. Like many of us, Mickey was driven by a vision. She believed America needed more women in leadership and that we were at a disadvantage without women’s insight and perspective. When Mickey moved to New York city, she had $500 to her name, a couch to sleep on, and a goal to break the glass ceiling into the finance world.

Soon, Mickey began working her way up the ladder and one day she asked a co-worker, “Where could I work and get equal pay as a man doing the same job?”

He replied, “You would have to buy a seat on the stock exchange.”

On December 28, 1967, Mickey became the first woman to own a seat on the New York Stock Exchange, joining the 1,365 male members at that time.

In the decades that followed, many women have broken glass ceilings in the mortgage field. From sales representatives to market analysts, women across the industry have made a positive impact, which includes the secondary or capital markets.  I believe Mickey paved the way for so many women, and in so many ways. I read that Mickey said, “Women have the ability.  It’s up to each of us to encourage each other.” This statement resonates with me and perhaps all women.

Picking a Path in Secondary

Like Mickey, I believe we must empower one another so we can take up space and be heard.  Each sector of our industry offers almost endless opportunities, and each of us can choose a path that lets us focus on our strengths, master our goals, and break a few glass ceilings of our own. Here are just a few paths you can take:

Sales.  Knowledge is power and the difference between someone who can carry a conversation and someone who can control a conversation with knowledge is the difference between selling and being sold.  Loan originators must be well versed in the economic drivers of interest rates and key indicators that control the market, like inflation, housing and employment reports, recession indicators, technical charts, and so much more.

Secondary and Lender Ops.  If you are analytical and love the financial markets, along with a fast-paced environment of risk management, the secondary department at any independent mortgage banker is packed with daily action.

Marketing.  Being able to effectively communicate what is happening with rates to consumers is an art in and of itself, and one that I am personally working to master. But it’s such an important goal, because we have the ability to help potential homebuyers understand the financial opportunity in homeownership, making a difference in their family’s lives. If wordsmithing and creating compelling content is your passion, this path provides real opportunities to positively impact countless peoples’ lives.

Setting Your Goals

“Success is steady progress towards one’s personal goals.”

– Jim Rohn

Mickey’s story reminds us of the importance of setting goals and what we can achieve when we take daily action towards them. Having daily, weekly, and monthly milestones can keep momentum and motivation primed, so we stay focused on the actions that will help us achieve our larger goals and dreams.

Here are just a few simple tools that help me stay focused:

Routine and reminders really help me plan my day. I love making a to-do list the night before because it really helps me focus on my highest priorities that must come first. And when interruptions or unexpected things come up, as happens to all of us, I can quickly look at my list and determine what truly is most crucial.

Mindset is also critical for all of us. I can only imagine how many people through the years told Mickey, “You can’t do that!” But she didn’t give up and she kept trying different avenues until she reached her goal. It’s important to remain steadfast no matter the distractions and obstacles that invariably will occur. Ultimately, we have the power to decide what we hold true and believe in ourselves.

Learn from people who came before you. I would not be where I am today without learning from my mentors and colleagues. No matter what path you take, find people who have reached the goals you want to achieve. Study their habits and never be afraid to ask them questions. Remember, the worst question may just be the one that is never asked. You’ll save yourself time and potential missteps by seeking out the knowledge of people whose success you want to emulate.

Build a network of trusted colleagues that you can mutually count on for advice, feedback, and support. The best mix is a group of people you can learn from, but also inspire with your knowledge and unique gifts. And if you fall on tough times, they can be the voice of reason that gives you clarity and encouragement to continue.

Lastly, don’t be afraid to share your accomplishments and your challenges with your network and on social media to build rapport and real connection with your followers. People resonate with others who are real, honest, and approachable so this is a great way to connect, inspire, and encourage others, building your brand and reputation in the process.

My Breakthrough

Sometimes opportunities knock but it’s up to us to open the door.

For me, that knock came five years ago. At the time, I was looking for a career change and the next great challenge. I happened to work at an event near my home in Las Vegas called Mastermind, which is one of the largest mortgage and real estate conventions in the U.S.

Little did I know this would change the entire trajectory of my life. I met mortgage icons like Barry Habib, who helped me answer the question, “What’s next?”

He suggested I come work for his company, MBS Highway, a leading platform helping mortgage professionals analyze the markets and increase production. Like Mickey, I took a chance, shipping three boxes across the country, selling my car and hopping on an airplane to my new home:  a small attic above a hair salon two blocks from the office in New Jersey.

It was during this time especially that I utilized the my tools: daily routine, mindset, learning from others, building a trusted network, and sharing accomplishments and challenges to stay focused on my goals. I wanted to help mortgage and real estate professionals gain the confidence to understand the markets, so they can position themselves as a local, trusted celebrity advisor.

My daily routines gave me purpose, structure, and focus.  One thing that was especially helpful then and now is my morning routine of saying what I’m thankful for.  This is also when I honed my practice of staying on offense by setting my daily agendas and goals the evening before, which has helped me guard my time so I can better utilize it for our clients and my tasks.

Moving away from friends and family certainly has its challenges, and I’ll be honest in saying I had to work at staying positive in those early days. But my morning routine really strengthened and solidified my mindset and commitment to the opportunity I was given and my goal of helping mortgage and real estate professionals understand the market and gain the courage to position themselves as a trusted advisor on social media.

Similarly, I know that being open to learning from the leaders and mentors in my life has played a huge role in my ability to succeed. Barry Habib was the first person to help me in the mortgage field. He saw what motivated me and pushed me to be my best through speaking on stage, getting over my fear of phone calls, and teaching me the importance of not leaving anything for tomorrow.

I have also gained the courage to share on social media. I’m in an interesting sector of the secondary market. At MBS Highway, I have learned how to read candlestick charts, interpret how news affects the markets, what monthly housing reports really mean, and how to articulate all of this to loan originators in our daily update video.

I also speak about how loan originators can use social media and video to position themselves as a local trusted celebrity advisor. In the process, I have learned how many people find it hard to talk about or record videos of themselves. People often ask how I went from being brand new in the mortgage space a few short years ago to becoming a name many know. A big part of this was brand positioning through social media. I encourage you to share your journey, no matter where you’re starting.

Supporting Mickey’s Vision

“Women have the ability. It’s up to each of us to encourage each other.”

Like Mickey, I encourage each of you to break your own glass ceiling and be mentors to one another. I’m incredibly grateful to my female mentors like Christine Beckwith, who graced me with the Women with Vision award last year.  And to Cindy Ertman and Marilyn Richardson who encouraged me through their stories and believed in my message enough to coach their audience.

Therefore, I’d like to leave you with this thought.

It is our sacred duty to promote and sponsor one another as Mickey envisioned. By doing so we build upon our greater achievements and further support our sisterhood, helping create an industry where glass ceilings no longer need to be shattered.