FPA of Colorado has partnered with several other FPA Chapters, led by FPA of NJ, to host the D&I Panel Discussion Series. 

There has been overwhelming evidence of bias and discrimination in the mortgage, home buying, and loan sphere. Homes are consistently undervalued when owned by black/ African Americans compared to their white counterparts. The Washington Post noted that this adds up to $156 billion in lost equity for these families. The Consumer Financial Protection Bureau recently released data showing that members of the LGBTQIA+ community will receive, on average, higher interest rates as well as higher closing fees when applying with a same-sex partner. There are recent lawsuits filed for Spanish-speaker-directed advertising promising extra funds under predatory loans and advising the borrowers to not communicate with their lenders and to stop their monthly payments, placing them at financial risk of loan default and loss of their homes. Discrimination, both consciously or unconsciously, plays a large role in minority communities' financial stability and overall well-being.

Register here:  https://fpanj.org/meetinginfo.php?id=41&ts=1661807346

Speaker(s):

Chelsea McCarty:  I am a Reverse Mortgage Specialist for Reverse Mortgage Funding, LLC. Throughout my time in the reverse mortgage industry, I have learned a lot about working with older clients and how to help them meet their financial needs with a reverse mortgage. I use my tenacious communication skills, ability to speak several languages fluently, and my background in teaching to help our adult clients in understanding our process and creating trust in me and in our company with their financial future.

I am the head of Diversity and Inclusion for the Colorado Financial Planning Association and have been an LQBTQIA+ advocate throughout my life. I believe in the fair treatment of all individuals not only on a legal level but on a social one as well. As a Spanish speaker, I am also an advocate for fair and just treatment of all members of our communities.

I have three MA degrees in linguistics and over a decade of experience teaching at the university level.

Vicky Llerena is a mortgage funding specialist and licensed loan originator at Cardinal Financial. She's served as host, presenter, panelist, and workshop speaker on the topics of home ownership, real estate investing, and woman empowerment. She's partnered up with Latina Surge, Move the Needle, City of Rahway, and other organizations to discuss the power of home ownership and building generational wealth in our inner-city communities. 

Jose M. Borbon is a licensed CPA in the State of New Jersey (since 2017) and holds a certification of credit risk from the Risk Management Association (since 2020). Jose M. Borbon presently holds the position of Assistant Vice President, SBA Portfolio/Servicing Manager at Kearny Bank. Prior to joining Kearny Bank’s SBA lending department, Jose worked as a Senior Auditor at Kearny Bank and Consumer Loan Manager at Columbia Bank, respectively. In partnership with his alma mater, Passaic County Technical Institute, he volunteers his time to talk with students about career opportunities in accounting and community banking. Jose is a recipient of the NJCPA Emerging Leader Ovation Award in 2019 and graduated from the American Institute of Certified Public Accountants in the fall of 2019.  

Jose is a member of the NJCPA, AICPA, RMA, NAGGL, AND NJ Bankers Association.

Moderator:  Wayne Tillman