Residential Magazine

2024 Top Women Originators

Women are gaining powerful momentum in the mortgage industry

By Hannah Darden

The mortgage industry has diversified a lot in the last five years. Since Scotsman Guide launched the Top Women Originators rankings in 2019, the landscape has shifted, and women have worked hard to become powerful players.

In the 2019 Top Originators rankings, roughly 4,500 people submitted their loan volumes and about 500 women qualified — just 11% of entrants. Scotsman Guide published the top 200 women, and the Top Women Originators ranking was born. This year, 33% of all Top Originator entrants were qualifying women — more than 1,400 of our roughly 4,300 entrants.

In a historically male-dominated financial industry, this kind of growth is impressive and encouraging. In most financial careers, according to Census data, women outnumber men — including in accounting, tax preparation, budget analysis and insurance underwriting. In the credit counselor and loan officer block, which includes mortgage loan officers, 55% were women as of 2022. Men were more likely than women to be personal financial advisers, investment analysts and property appraisers.

Critically, men are also much more likely to be managers and chief executives across all industries, including financial. Women just aren’t promoted to management as often as men; McKinsey’s annual Women in the Workplace report has documented this phenomenon for years, coined the “broken rung.”

But powerful women are becoming more visible in the mortgage industry, and more women are taking on positions of power in industry organizations and large mortgage corporations. The women of the mortgage industry are forming community and offering mentorship through women’s trade groups, they’re leading branches and they’re doing impressive volume.

In a world where more single women buy homes than single men, it makes sense for women to increase their representation in the mortgage industry. Multiple studies have found that women prefer to work with female financial advisers (and that all people prefer to work with advisers from similar backgrounds). It’s the same reason why increases in employment of loan officers from diverse racial backgrounds is important; as people of color buy more homes, they’ll be looking for loan officers who look like them. This is an intersectional opportunity for the industry, and women of color will be critical to the future of mortgage.

This year’s No. 1 ranked Top Woman Originator, Rachel Jiang of BMO Bank N.A., is a great example of this. Jiang found an underserved niche in her local Asian community, where there were very few originators. She knew she could serve as a bridge to homeownership, especially to Mandarin and Cantonese speakers who had a hard time translating complicated mortgage concepts. You can read more of Jiang’s story, and how she built her business during a difficult period for the industry, on Page 12.

Jiang is followed in the rankings by Sherry Wang of Citibank N.A., who also grew her volume in 2023 and skyrocketed from 29th place in last year’s rankings to second this year. Jennifer Brown (BMO Bank N.A.), Jennifer Beeston (Guaranteed Rate) and Tammy Saul (Federal Hill Mortgage) round out the Top 5.

This year, the printed rankings include the top 150 women originators, but hundreds more qualified for this ranking. For the full list, visit

It’s thrilling to have highlighted over the past five years the hardworking women of this industry. As rankings editor, I’ve interviewed dozens of these women, and each one has a story to tell. These women are mothers, caregivers, animal rescuers, surfers, travelers and so much more. Congratulations to all the impressive women who qualified for Top Originators this year; we can’t wait to see what you do in the future, and I can’t wait to tell your stories. ●


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