Adam Constantine on MLK Jr.’s impact on housing equality

During the interview, Constantine explains why the industry needs to focus on evoking intentional change rather than launching lackluster initiatives.

Navigating capacity concerns amidst record-high volumes

High loan volumes continues to loom large in the new year, making the “one-stop-shop” approach to the servicing and lending process even more appealing.

Amid record-high origination volumes, mortgage fraud risk is down

CoreLogic's recently released Mortgage Fraud Report is the industry standard for nationwide fraud monitoring and analysis. Read the findings here.

How student loan debt impact homeownership

Student loan expert Catalina Kaiyoorawongs shares her practical and tangible advice for people who feel overwhelmed by their student loan debt.

Real Estate

Zillow and Redfin among companies vowing to add Black board members

More than 40 companies have taken the pledge

Zillow and Redfin are among the companies that are signing on to The Board Challenge, a pledge to add a Black member to their board of directors within one year.

Rolled out this week, the Board Challenge is part of a movement to increase diversity and inclusion since the death of George Floyd at the hands of police officers in Minneapolis in May.

“The perspectives and ideas we listen to, and the voices we elevate, will determine the future of our industries, our companies, and ultimately our world,” Zillow Cofounder and CEO Rich Barton said in a statement. “It’s obvious that Black people are underrepresented in corporate boardrooms and other positions of leadership and power. It is something we don’t talk about enough.”

According to the Wall Street Journal, data from Boardlist shows about 66% of Fortune 500 company board members are white men and 18% are white women; 9% are Black men and women.

PwC’s 2019 Annual Corporate Directors Survey reports that 94% of directors agree that board diversity brings unique perspectives to the boardroom, while 87% thinking board diversity enhances board performance and 76% say it enhances company performance.

In a LinkedIn post, Barton said that Zillow has been sharing its workforce diversity and pay equity data since 2016, to “hold ourselves accountable to do better for our own team members.”

Zillow has had a spot open on its board since former CEO Spencer Rascoff stepped down in April, a spot Barton said he is actively looking to fill.

“The search for a Black director is already well underway at Zillow, and we’re very excited about the talented candidates we’ve been able to talk to,” Barton said.

Also listed as a supporter of the Board Challenge, Redfin’s CEO Glenn Kelman has been vocal about Redfin’s effort to add diversity to staff as well as anti-discriminatory practices.

“We just recruited a new director to our board, which was just another reminder of how many fantastic candidates of color there are for roles at the most senior levels,” Redfin CEO Glenn Kelman said in a statement to HousingWire.

“Diversity is crucial to one of a board’s foundational responsibilities, to ensure the company is fairly run,” Kelman said. “This fairness depends not just on our board’s decision-making, but also on employees’ confidence in that decision-making. No matter how hard we try to be an open company, it can be daunting for any employee to escalate a problem to the board, but especially for an employee of color who doesn’t see a director with the life experiences to process that problem.”

Other supporters of the Board Challenge include United Airlines, Sonos and Uber, to name a few.

Leave a comment

Most Popular Articles

Prepare for the rise in mortgage rates

Economists offer their takes on how high mortgage rates will climb, how lenders will respond and what impact this will have on the housing market. HW+ Premium Content

Jan 18, 2021 By

Latest Articles

2020 ends with 3.4 million loans in delinquency

The final delinquency tally for December is in, with data revealing that by end of 2020, 1.54 million more mortgages were reported delinquent.

Jan 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please