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The Mortgage Bankers Association (MBA) has announced the creation of the Task Force for a Future Secondary Mortgage Market, created with the objective of developing a proposal that will address the future of the secondary mortgage market, and in particular, an end-state model that can also fulfill an affordable housing/duty to serve mission. The Task Force anticipates completing this proposal by the end of the year.
The members of this Task Force are made up of individuals from MBA member companies representing a broad cross-section of the residential and multifamily real estate finance industries, including entities of varying sizes and business models, and will be chaired by Rodrigo Lopez, CMB, executive chairman of NorthMarq Capital Finance and chairman-elect of the MBA.
“A strong, sound secondary mortgage market is paramount to the overall success of the real estate finance industry," said Lopez. "That is why it is of the utmost importance that policymakers and stakeholders create a strong and stable system that ensures liquidity, affordable mortgage credit and serves consumers."
In addition to Lopez, members of the Task Force for a Future Secondary Mortgage Market include:
►David Battany, Guild Mortgage Company
►Scott Bassin, PNC Real Estate
►Jon Baymiller, NYCB Mortgage Company, LLC
►Teresa Bryce Bazemore, Radian Guaranty Inc
►Keith Bickel, Bank of America Home Loans
►Byron Boston, Dynex Capital, Inc.
►Jeff Bode, Mid America Mortgage, Inc.
►Michael Bright, PennyMac Financial Services, Inc.
►Pete Carroll, Quicken Loans, Inc.
►Hank Cunningham, First Mortgage Company, LLC
►Denise DesRosiers, JP Morgan Chase
►Peter Donovan, CBRE Capital Markets
►David Durning, Prudential Mortgage Capital Company
►Tari Flannery, M&T Realty Capital Corporation
►Raghu Kakumanu, Wells Fargo Home Mortgage
►Angela Mago, KeyBank Real Estate Capital
►Mike May, Cantor Commercial Real Estate
►Tom Millon, Capital Markets Cooperative, LLC
►A.W. Pickel, III, LeaderOne Financial Corporation
►Julie Piepho, Cornerstone Home Lending, Inc.
►Pat Sinks, Mortgage Guaranty Insurance Corporation (MGIC)
►Debra Still, Pulte Mortgage LLC
►Bob Stout, Q10 Capital, LLC