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MBA creates 'task force' to design secondary mortgage market of the future

Group will present proposal by end of 2016

Crystal ball

In the wake of the financial crisis, the secondary mortgage market is still trying to establish its new normal.

With that in mind, the Mortgage Bankers Association announced Friday that it is forming a “task force” to help conceptualize what the secondary mortgage market of the future will look like.

According to the MBA, the task force’s objective is to develop 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 MBA said that the members of this task force come from MBA member companies, and represent a “broad cross-section” of the residential and multifamily real estate finance industries, including entities of varying sizes and business models.

According to the MBA, Rodrigo Lopez, executive chairman of NorthMarq Capital Finance and chairman-elect of MBA, will lead the task force.

“A strong, sound secondary mortgage market is paramount to the overall success of the real estate finance industry,” Lopez said. “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.”

Joining Lopez on the task force will be:

David Battany, Guild Mortgage Company

Scott Bassin, PNC Real Estate

Jon Baymiller, NYCB Mortgage Company

Teresa Bryce Bazemore, Radian Guaranty

Keith Bickel, Bank of America Home Loans

Byron Boston, Dynex Capital

Jeff Bode, Mid America Mortgage

Michael Bright, PennyMac Financial Services

Pete Carroll, Quicken Loans

Hank Cunningham, First Mortgage Company

Denise DesRosiers, JPMorgan 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

A.W. Pickel, III, LeaderOne Financial Corporation

Julie Piepho, Cornerstone Home Lending

Pat Sinks, Mortgage Guaranty Insurance Corporation

Debra Still, Pulte Mortgage

Bob Stout, Q10 Capital

According to the MBA, the task force plans to complete its proposal for remaking the secondary market by the end of year.


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