NMP - November 2019 - 33

MBA's 2019 ANNUAL CONVENTION & EXPO
Fercho joined Flagstar Bank in 2017 after 15 years
with Fannie Mae, where she served as senior vice
president, customer delivery executive, responsible
for the strategy and business performance of all
single-family customers in the western United States.
Prior to Fannie Mae, she worked for PepsiCo and
Baxter Healthcare. Fercho currently serves as a
member of MBA's board of directors and sits on
MBA's Audit Committee, as well as RESBOG. She is also on the
board of the Detroit Zoological Society and CityYear, and is a past
president of the board of Habitat for Humanity, Chicago.
Stoffers will chair the board of directors, which consists of 35
elected members and one ex-officio member, the MBA president and
Chief Executive Officer Bob Broeksmit, CMB. MBA directors
represent its commercial/multifamily, residential and associate
membership. The Board sets the strategic direction for MBA and
oversees management of the association's affairs.
"2020 is shaping up to be a busy year full of regulatory and
legislative activities impacting our industry," said Stoffers. "I look
forward to working with MBA's board of directors to lay out a
strategy to ensure the association is aligned with, and working in, the
best interests of its members."
The new members of MBA's board of directors include:
l Laura Escobar, Eagle Home Mortgage LLC
l Marla Guillaume, Century Mortgage Company
l John M. Hedlund, AmeriHome Mortgage Company
l Mary Ann McGarry, Guild Mortgage Company
l Gary Otten, MetLife Inc.
l Kurt Pfotenhauer, First American Title Insurance Company
l Erin Stafford, DBRS Inc.

Members remaining on MBA's Board of Directors are:
l Brian F. Stoffers, CMB (Chairman), CBRE Capital Markets
l Susan T. Stewart (Chairman-Elect), SWBC Mortgage
l Kristy Fercho (Vice Chairman), Flagstar Bank, FSB
l Christopher M. George (Immediate Past Chairman), CMG
Financial
l Byron L. Boston, Dynex Capital Inc.
l Todd Chamberlain, SunTrust Mortgage Inc.
l Gary D. Clark, Sierra Pacific Mortgage Company Inc.
l Jonathan Corr, Ellie Mae Inc.
l Michael J. DeVito, Wells Fargo Home Mortgage
l William C. Emerson, Quicken Loans and Rock Holdings Inc.
l Matt Galligan, CIT
l Mark A. Jones, AmeriFirst Home Mortgage
l Christopher LaBianca, UBS Investment Bank
l Angela Mago, KeyBank Real Estate Capital
l Frank D. Martell, CoreLogic
l Michael C. May, Newmark Knight Frank
l Stanley C. Middleman, Freedom Mortgage Corporation
l Peter R. Norden, HomeBridge Financial Services Inc.
l Eduardo Perez, CMB, Equity Prime Mortgage LLC
l Julie Piepho, CMB, Milestone Lending Consulting
l Jay Plum, The Huntington National Bank
l Tony Premer, Pacific Life Insurance Company
l Andrew Rippert, Arch Capital Group Ltd.
l Debra W. Still, CMB, Pulte Mortgage LLC
l Jeffrey C. Taylor, Digital Risk LLC
l Richard G. Thornberry, Radian Guaranty Inc.
l William M. Walker, Walker & Dunlop LLC
l Fowler C. Williams, CMB, AMP, Crescent Mortgage Company

Housing Reform Liquidity Dominates MBA Annual Speeches

n National Mortgage Professional Magazine n NOVEMBER 2019

the QM Patch, or any other issue,
our message to legislators and
regulators alike is the same: be
smart and be careful. Our members,
and American consumers, need
clear policies and clear timelines.
Actions should be gradual and
telegraphed- a dial, not a switch.
We're telling them, in no uncertain
terms: do not disrupt the market."
Mark Calabria, Director of the
Federal Housing Finance Agency
(FHFA), told the MBA audience that
the GSEs were nowhere near ready
to be released from their 11-yearold federal conservatorship.
"One way to think about FHFA's
standards for safety and soundness
is: Are Fannie and Freddie equipped
to withstand a downturn on the
scale of what we saw in 2007 and 2008?" Calabria said. "We know
they cannot meet that standard right now. But I believe they are
capable of and committed to getting there. In fact, today I think we
see the strongest board and management teams in the history of
these companies. I will measure progress by looking at whether they
are moving in the right direction and as quickly as possible without
jeopardizing their mission."
Calabria admitted that the GSEs were unable to "change their risk
profiles overnight," adding that the recently introduced reforms
proposed by his agency and Trump Administration offer a guide to
"begin the process of calibrating their risk to their capital levels."
Still, Calabria insisted that the process cannot proceed at a leisurely
pace.
"When tailoring risk, we will proceed thoughtfully," he said. "But

NationalMortgageProfessional.com

The question of housing finance
reform and an ensured continuation
of liquidity was front and center at
the Mortgage Bankers Association's
(MBA) Annual Convention & Expo in
Austin.
MBA President and CEO Robert
Broeksmit assured the convention
audience that the trade group was
"talking with leaders from both
parties in Congress and we're
talking with every federal agency
imaginable." Broeksmit made it
clear that government-sponsored
enterprise (GSE) reform could not
be a return to the pre-2008 status
quo.
"Our goal isn't 'recap and
release,'" he said. "We recognize
the need to rebuild capital, but we
will fight to ensure that before the GSEs are released from
conservatorship, we will have reforms in place-by rule and by
legislation-that meet our core principles and will remain in place after
conservatorship ends."
Broeksmit acknowledged that "leveling the playing field for private
capital could mean a smaller GSE market share, which means it
needs to be done with great care. It needs to ensure access to
affordable credit-to preserve the mission of the GSEs to serve low-,
moderate- and middle-income families-and to make sure there is
liquidity nationwide through all market cycles."
However, Broeksmit insisted that speed should not be given
priority over safety in the process. "The name of the game is action
and caution," he continued. "The balance between them is where
we'll find the stability you need. Whether it's housing finance reform,

33


http://www.NationalMortgageProfessional.com

NMP - November 2019

Table of Contents for the Digital Edition of NMP - November 2019

Contents
NMP - November 2019 - CT1
NMP - November 2019 - CT2
NMP - November 2019 - Cover1
NMP - November 2019 - Cover2
NMP - November 2019 - 1
NMP - November 2019 - Contents
NMP - November 2019 - 3
NMP - November 2019 - 4
NMP - November 2019 - 5
NMP - November 2019 - 6
NMP - November 2019 - 7
NMP - November 2019 - 8
NMP - November 2019 - 9
NMP - November 2019 - 10
NMP - November 2019 - 11
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NMP - November 2019 - 13
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NMP - November 2019 - 16
NMP - November 2019 - 17
NMP - November 2019 - 18
NMP - November 2019 - 19
NMP - November 2019 - 20
NMP - November 2019 - 21
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