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In a time when conversations around diversity, equity, and inclusion (DEI) feel more charged than ever, iEmergent brought together six leading voices in mortgage lending to reframe the conversation: if you're not convinced by the moral case for inclusive lending, consider the business case.
In this energizing session moderated by iEmergent CEO Laird Nossuli, panelists discussed how to navigate today’s shifting regulatory landscape and political pressures while staying focused on sustainable growth. The message was clear: serving diverse markets isn't just the right thing to do—it's a strategic imperative.
Access the full “Not Sold on Diversity? Fine. Let’s Talk About Your Bottom Line” webinar on demand.
Here are key takeaways from the discussion:
Panelists acknowledged the chilling effect recent political and regulatory shifts have had on DEI initiatives, particularly the rollback of support for special purpose credit programs (SPCPs). But as Gabe del Rio of the Homeownership Council of America (HCA) pointed out, the law hasn’t changed—only the posture. Lenders must reframe their strategies using different language and tools, but the mission remains unchanged: reaching underserved borrowers.
Lake Michigan Credit Union’s John Harpst, whose credit union was forced to rebrand its SPCP to comply with new GSE guidance, summed it up best: “Just because we changed the words doesn’t mean we changed the mission.”
Tom Sullivan of First Commonwealth Bank offered a mantra for modern mortgage strategy: “We live in the data.” Understanding who you’re serving—and who you’re missing—empowers lenders to plan, prioritize, and act with purpose. And in an era of volatility, reactive strategies just won’t cut it.
From using market share analysis to identify geographic gaps to building future-focused forecasts, iEmergent’s data shows a $2.6 trillion opportunity in multicultural markets over the next five years—a figure that rises to $4 trillion if the industry makes even modest progress closing the homeownership gap.
As Nikki Bialka of Fifth Third Bank emphasized, embedding equitable lending into company culture starts at the top. Executive buy-in is critical, but equally important is giving every employee a stake in the mission. At Fifth Third, that means hosting leadership at community events, educating internal teams about local market gaps, and inviting product, servicing, and underwriting leaders to join the conversation—not just sales.
First Commonwealth’s internal culture reflects a similar ethos, with social media playing a key role. Sullivan’s team regularly showcases borrower success stories, celebrates partner achievements, and makes equitable lending a visible and celebrated part of the brand.
Gone are the days when community engagement was a compliance checkbox. Today, it’s a strategic growth lever. Fifth Third’s work in Cincinnati’s Avondale neighborhood revealed the importance of listening before acting. What the bank thought the community needed—homebuyer education—turned out to be less urgent than workforce development and financial empowerment. The lesson? Let the data and the community guide your response.
Tay Toliver of Cardinal Financial emphasized the importance of hiring with intention. Recruiting professionals who are not only culturally competent but also passionate about the work is key. “You have to be comfortable being uncomfortable,” said Toliver. “And you have to be a servant leader.”
Whether your team reflects the community demographically or not, authenticity, empathy, and a willingness to collaborate across lines of difference are non-negotiable.
From First Commonwealth’s robust Community Reinvestment Act (CRA) strategy to Fifth Third’s “Family Not a File” campaign to national down payment assistance (DPA) programs like those offered by HCA, the panel underscored that impactful programs require both institutional commitment and external collaboration.
Tony Thompson of the National Association of Minority Mortgage Bankers (NAMMBA) encouraged lenders to engage every department—from marketing and sales to product and compliance—and rethink how they reach today’s increasingly multicultural and digital-savvy borrowers. His reminder? “The customer today is not the customer of yesterday.”
While some lenders have paused DEI initiatives out of caution, the math is unforgiving: 77% of new household growth this decade will come from communities of color. Ignoring these segments doesn’t just limit your impact—it limits your growth. As Laird said, “If you can’t work with 32% of your market, you’re not likely to be a market leader.”
Whether you call it diversity, equity, and inclusion—or just common sense—serving a broader borrower base is the key to long-term profitability.