Breaking Barriers: Montell Watson on Using Data to Drive Equity in Homeownership

We have a returning guest, Montell Watson⁠, the Director of Diversity Lending and Strategic Partnerships at Movement Mortgage. Montell sat down with Fobby and Joe to kick off Day 2 of NAMMBA Connect '24. Montell shares his personal journey and the critical work he’s leading at Movement Mortgage to address the racial homeownership gap. With over 14 years of experience in the mortgage industry, Montell has been instrumental in launching initiatives like Grab the Key, a program aimed at increasing homeownership among underserved communities. In this conversation, Montell emphasizes the importance of actionable intelligence, fostering community relationships, and using technology to drive equity in homeownership. Key Topics: Actionable Data and Diversity: Montell explains how Movement Mortgage uses data-driven strategies to recruit diverse talent and reach marginalized communities, highlighting how actionable intelligence is more impactful than traditional AI models. Closing the Homeownership Gap: Montell discusses the Grab the Key initiative, which focuses on empowering Black Americans to overcome systemic barriers to homeownership and build generational wealth. Overcoming Systemic Challenges: Montell shares his personal experience witnessing the 2008 financial crisis and how it shaped his mission to address disparities in the mortgage industry. His work focuses on providing educational resources and leveraging data to help minority communities thrive in homeownership. Building Confidence through Data: Montell talks about how having the right data allows companies and loan officers to confidently serve underrepresented groups and build lasting relationships. Quotes from Montell’s Journey: On Actionable Data:"We have data at our fingertips, but what difference does it make if you don't do anything with that information? That’s why we focus on actionable intelligence first. Without action, intelligence is just fine—it’s not AI."— Montell emphasizes the importance of using data to drive results in recruiting diverse talent and identifying opportunities in underserved markets On the Homeownership Gap:"Homeownership is still one of the best ways to grow wealth, and low homeownership rates in Black communities have a direct correlation to net worth."— Montell highlights the racial disparities in homeownership and his commitment to addressing these through initiatives like Grab the Key On Overcoming Systemic Barriers:"We have an opportunity to change the systemic long-term trust issues Black households have with financial institutions, while empowering all potential homeowners to believe homeownership is for them."— Montell reflects on the need for trust-building between minority communities and financial institutions Call to Action:Subscribe to Laugh, Lend, & Eat for more episodes featuring industry leaders like Montell Watson, who are shaping the future of mortgage lending through diversity and innovation. Connect with Montell and Movement Mortgage to learn more about their efforts in creating equity in homeownership. Stay tuned for more discussions that explore the latest trends and insights from the mortgage industry.