Rhiannon Bolen

The “Power of the Pack”! Isn’t that what they say? “Find your Tribe” or “Engage Each Other”.

These quotes refer to a communal approach to navigating through whatever is happening in your life. They speak to the importance of working collaboratively and supporting each other as a team.

This is all very important for everyone in the business world to know how to do. But what specific benefits can be derived when women proactively place emphasis on supporting one another?

In a recent Harvard Business Review article, research results indicated the importance of “centrality” for both women and men that is correlated to being successful, BUT that women often maintained a closer knit inner circle of female contacts of one to three people. The research further indicated that women in the top quartile of centrality that had a female dominated inner circle were 2.5 times higher in authority and pay than those that lacked this type of inner circle.

It is understood that women face cultural and systemic hurdles that our male counterparts do not.  This is not debatable – BUT it is also known that, as women continue to find their voice, they are doing it because they are building a network that faces similar challenges and utilizing their network for progressing their careers – either by being supported or providing support to those in the network.

I have been a direct beneficiary of being raised by a strong woman in the mortgage industry.  I watched my mom struggle through the ranks of large financial firms through the 70’s, 80’s and 90’s.

At the very beginning of her career, it was even legal for a husband to pick up a wife’s check and she really had no option to get her paycheck directly!

My how far we have come, though, that really was not that long ago!

I also had a father that was always supportive and believed that women and men could do the same things with equal success. I watched as my mom grew into leadership and executive roles and absorbed how women that she worked for and women that worked for her flourished when they received support from other women: strong guidance and clear expectations but with empathy offered in the unique way that women often provide.

So, for me, this was the foundation for when I entered the workforce and eventually into the mortgage business.

I have been in the mortgage business now for over 20 years. I started out in supporting roles and through demonstrated work ethic and professionalism, I have carved out a solid reputation for myself and served in roles that gave me the opportunity to learn and grow into a leader.

What I discovered along the way is that not all women had the kind of foundation that I did. Over the years, I saw women that were afraid to be direct, scared to ask for promotions or money, uncomfortable using their voice, or not confident in their abilities, and subsequently may have struggled with advancement within our industry.

I saw an opportunity to create an environment where women could put “centrality” into practice and discover the benefits of women supporting other women. How can you be expected to climb the ladder if you are not familiar with how to present yourself, how to ask the right questions, how to identify what you want, or even to get sage advice when you face challenges that are perhaps keeping you from achieving your goals?

I have had the good fortune in my career to be in roles that supported involvement in our industry, and I have been privileged to be involved with various associations in the mortgage industry, probably most notable with the Texas MBA.  Our association is no different than many others in our industry in that in our over 100-year history you can count on one hand how many female association presidents we have had.

HOWEVER, in our most recent history, we have been very fortunate to have a handful of some very dynamic females that have led our association. In 2018, I presented the opportunity of creating a women’s networking group to our then female president.  From the very beginning, she was supportive of the idea and allowed me to run with it; thus, beginning the women supporting women approach at our association.

The Texas Women Mortgage Bankers was formed in late 2018 with a mission to “To promote the furtherment of women in the mortgage industry in the state of Texas. The TWMB will strive to provide opportunities for women from all aspects of our industry to network, engage, learn, and grow in their careers, and in life.” What we intended with our mission statement was to reach women that otherwise would not have the opportunity to engage in other women’s groups outside of their local state association. With the reach of the Texas MBA, we began holding events in conjunction with the three major events that are traditionally held through the state by the Texas MBA.

We focused on providing opportunities for women to engage and connect, not just women in outside sales but processors, underwriters, closers etc. that otherwise may not typically travel away from their offices. We were intent on focusing on career empowerment, conflict resolution strategies, inter-office interactions, leadership, and oh! and supporting one another.

During at least half of every one of our events, we offer the opportunity for our participants to engage in “Open Forum Roundtable” discussions, during which we dissect specific topics of focus, allow table participants to share and discuss challenges, best practices, provide advice, give guidance, and more. The result was powerful! There have been tears and laughter, stories and sagas, and real and meaningful connections. We left these events energized and ready to take on the world!

From the initial onset, we set out to provide relevant ways for participants to engage, but also saw an opportunity to connect women, who may not have had the same kind of foundation as I did, with direct interaction with a mortgage female with which they could connect and support one another through our “mentor matching program” with the TWMB.

Women that were looking to grow in their careers, just entering the mortgage business, new to being executives, or even looking to slow down as they move towards retirement had the opportunity to learn from other women within our group. We created a LinkedIn page where we share articles, ideas, and positive vibes!

The power that we have been able to harness because of supporting each other through this initiative has been moving and heartfelt. The ladies that have dedicated their time and talent to help this group grow to the over 150 women that we now count as part of our tribe have become my own “inner circle”. I count them as invaluable to my own career, as I am sure many of them would agree. When women support one another, we help each other grow. When we freely offer advice, guidance, and allow ourselves to be vulnerable with each other, the resulting outcome takes a powerful turn when we, in turn, engage in our own career initiatives and life objectives. I could not be prouder of our little tribe that has grown into a force of nature in our local state industry.

I also could not have done any of this without my own supportive husband who, much like my dad, has been my number one fan along the way. Behind every strong woman is a strong man. And with the example of my mother, I have had the good fortune of finding my own voice and learning the importance of supporting other women.