It was a sunny and extremely humid Thursday morning. Of course, that’s almost standard for Dallas, and it wasn’t going to prevent these three women from showing up to the magazine cover shoot with an energy and excitement that couldn’t be stopped. They say a picture is worth a thousand words, and I’d say this cover is worth so much more than that. These three Women of Influence not only carry the grace and lessons of those who have gone before them, but they’re leaving a priceless legacy for the next generation of leaders. Rebecca McDonald, chief product officer at Rocket Mortgage, Pam Perry, Single-Family vice president of Equitable Housing at Freddie Mac, and Hilary Saunders, co-founder and chief broker officer at Side, are all featured on the cover and were named to HousingWire’s 2021 Women of Influence. I had the honor of sitting down with them to learn more about the projects they’re passionate about, how they’re making a difference and what advice they’d share with those in the industry.
Here is the interview with Rebecca McDonald, chief product officer at Rocket Mortgage.
Brena Nath: First off, congrats on being named a 2021 Women of Influence. If you were standing on a stage giving an acceptance speech, who would you want to thank for helping you get where you are today?
Rebecca McDonald: Well, thank you very much, it is quite an honor. I definitely would first start with my family. My husband is my rock and has been with me on this entire journey and is such a great support system. My kids, I learn from them every single day, they constantly keep me on my toes, and I really appreciate it. My mother, who is one tough lady and defied a lot of odds, and really set the stage for being a person of integrity and hard work. And of course, my siblings, I come from a big family, and they’re very supportive of me as well.
When I think about my mentors, there are three people that really stand out and were really important, although there have been hundreds of people that I could say right now from the organization. I definitely want to highlight Shawn Krause. She’s one of the first mentors I had when I first started out. And she was the person that without even batting an eyelash presented possibilities to me for things that I might do, that I never even would have considered. Bill Emerson just gave me so much opportunity to grow and fail and then succeed and really was an incredible mentor, support and challenger for me. Lastly, I would say Linglong He. A little bit later in my career, she really came in and helped me refine and fine-tune my leadership and individual contributor expertise as well.
Brena Nath: You’ve really watched Rocket change and grow over the last 24 years that you’ve been there. How would you describe the growth of Rocket and where it’s headed?
Rebecca McDonald: You know, it’s been an amazing journey, it really has. The exponential growth, it’s just incredible. It’s a testament to the vision of the leadership team, Dan Gilbert, Jay Farner, Bill Emerson and the whole group. I think that as an organization, we are so focused on really understanding and being there for our clients and doing everything we can to create an amazing value for them, that has given us this opportunity for exponential growth, and it continues to happen.
Brena Nath: What are some of your proudest accomplishments over the years?
Rebecca McDonald: I’ve had the pleasure of working with so many different folks in so many different teams. It’s hard to kind of narrow down a handful of them. A few of the things that really jumped out is that right now, I’m super proud of the product team, the growth of the product team to over 200 individuals in 24 states. It’s just an amazing group of talented people, and I’m super excited about how they’re going to lead our organization in the years to come.
As I look back, I also think about initiatives around the 2010s, where we had a lot of change in our industry, and just being a part of teams that lead through massive organizational change to meet the regulations and our clients’ needs was just a really fun and exciting riddle, but also very challenging. And then, in the early 2000s, I spent almost a decade with our Mousetrap team, which is the team that worked in almost every area of our organization and really built out the scale to meet the demand that came after the financial crisis. It really positioned our organization in a place where we could scale super quickly. And that was a really fun and amazing time because we were doing things that nobody else in the industry was doing at that time.
Brena Nath: What is one project or initiative that you’re working on that you’re really passionate about?
Rebecca McDonald: I have the opportunity to work on initiatives that focus on our culture and our leadership development. I think it all starts with the environment that we create and understanding how we can make an incredibly supportive and empowering culture.
Then, you combine that with really developing leaders and helping them get to a place where all of their talents and amazing abilities can really shine. Being a part of mentoring, coaching and onboarding senior leaders, it’s something I’m very passionate about, and I really enjoy it because it’s fun to see. It’s really exciting for me to see them thrive and be able to be their best self and be wildly impactful for themselves and for the organization.
Brena Nath: Now, you’ve achieved a lot in your career, what does work-life balance look like for you, or what does it even mean to you?
Rebecca McDonald: I love this question because like everyone, I have many sides to me. There is a work side, and there’s, of course, family, friends and community. There’s a balance that we all must find, and that balance is different for everybody, and it’s different at different times in our life. The most important thing is that you understand what your priorities are, and how you think about each area of your life, your physical health, your mental health, your spiritual health. And work is a really exciting part of that.
You never want to put it in competition with or as a negative detractor of everything else, it’s a really healthy important part. It’s just a matter of making sure that you’re checking in with all the different areas within yourself to make sure that each one of those is in a place where it is thriving. And if not, then you have to make those pivots to make sure that you’re investing where you need to invest. So, when I think of work-life balance, I think, check-in, be present and make modifications if something’s not working for you.
Brena Nath: As a woman of influence and someone creating impactful change, what areas of change would you want people to know about?
Rebecca McDonald: I think there are multiple areas to think about. First, how are we building for the future? And what do I mean by building for the future? Building teams, building an organization, building within our community, all for the future. When we look at our team members, client base and communities and really empathize and understand what they need and what they’re trying to achieve, that’s the winning recipe. At our organization, we are very focused on all of those areas. That is a big differentiator for us. The more you can understand and empathize with your team members and clients, and understand the community around you, the better impact that you can have.
Brena Nath: What are some things that companies can or should start doing today to bring more diversity into the workforce?
Rebecca McDonald: There are some foundational things. The first thing is understanding your talent, not only your existing talent but the talent that you want to bring into your organization. And being very intentional about creating an environment that is welcoming and bringing in a diverse perspective. It is so important for us to truly understand, and the only way to understand our team members, community, and client base is to actually have representation and bring those perspectives in. That’s when you really can make something meaningful and impactful. And so, looking at your talent, understanding and creating an inclusive environment that allows that talent to thrive, then from there, expand out and really start supporting your communities and think about that marketplace and the partners that you’re engaging in.
Brena Nath: There aren’t a lot of women at the c-suite level in the industry. What unique challenges did you face in getting to where you are today?
Rebecca McDonald: Truth be told, I think I hit the jackpot, unbeknownst to me, when I joined the organization 24 years ago. I have been extremely fortunate to be a part of an organization that truly does value ideas and execution, but there have absolutely been riddles along the way. The way I would summarize it best is first understanding yourself and really believing in yourself and creating a belief system that empowers you to lean in, to engage, to be curious and be collaborative.
Brena Nath: What’s one piece of advice you would give people in this industry?
Rebecca McDonald: Understanding the whole ecosystem is really important. You’re going to have your area that you’re going to be an expert in. But understanding how it all fits together really can empower and create those innovations, those new ways of accomplishing whatever the goal is, because you understand the wider picture. I would say get curious and spend time in different parts of our industry so that you can be the best for your particular role.
To read the full August Issue, click here.
