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Monday, September 17, 2018

  • Opening General Session: An Update from Washington Regulators (Open to Media)

    Location: Independence A,
    Independence Level


    Speaker(s)

    Robert Broeksmit, CMB, President and Chief Executive Officer, Mortgage Bankers Association

    J. Paul Compton, Jr., General Counsel, U.S. Department of Housing and Urban Development

    Helen R. Kanovsky, General Counsel, Mortgage Bankers Association

    Steve O'Connor, Senior Vice President, Public Policy and Industry Relations, Mortgage Bankers Association

    Thomas B. Pahl, Policy Director, Research, Market and Regulations, Bureau of Consumer Financial Protection

    Joseph M. (Joe) Gormley, Chief of Staff, Office of Housing, U.S. Department of Housing and Urban Development

    Jeffrey Bolla, Program Analyst, Loan Policy and Valuation, U.S. Department of Veterans Affairs

    John Prendergast, Vice President, Supervision, Conference Of State Bank Supervisors

    General Session

    First, get an update on some of the work MBA is doing on behalf of the industry with regulators and on Capitol Hill. Then, hear directly from some Washington regulators about the latest programs and priorities at their agencies.

    Speaker(s)

    Robert Broeksmit, CMB, President and Chief Executive Officer, Mortgage Bankers Association

    Robert Broeksmit (Bob) is President and CEO of the Mortgage Bankers Association (MBA). Bob is a senior finance executive and corporate officer with a 33-year career in the mortgage sector. He has directed all aspects of lending activities, including marketing, sales, operations, secondary marketing, loan servicing, and default management. He has also served as a mortgage underwriting expert testifying on many large, high-profile cases.

    Prior to joining MBA in 2018, Bob served as President and Chief Operating Officer with Treliant, heading the firm's mortgage litigation support practice and serving diverse financial services clientele including large banks, independent mortgage lenders, community banks, credit unions, and service providers to the mortgage industry. As a Washington-based financial services consultancy, Treliant's mortgage practice included strategic advisory for executive management and corporate boards; litigation defense, including file reviews, litigation strategy, expert reports, and expert testimony; CFPB examination preparation and implementation of mortgage regulations promulgated by the CFPB and other regulators; and operational aspects of mortgage banking, ranging from origination to servicing and loss mitigation.

    Before Treliant, Bob held senior leadership positions in the mortgage business, including fourteen years with Chevy Chase Bank (including after its purchase by Capital One), where he was Executive Vice President and President of its B.F. Saul Mortgage Company subsidiary. Bob also was a Vice President at Prudential Home Mortgage for seven years. He has overseen annual originations of $9 billion, a balance sheet of $10 billion in residential mortgages, and a servicing portfolio of $20 billion. He also held positions at Great Western Mortgage, Krupp Residential Mortgage, and The Money Store.

    Bob has served as the Chairman of the Mortgage Bankers Association's Residential Board of Governors and as a member of its Board of Directors. Firms under his leadership have garnered multiple awards for servicing operations excellence, including Freddie Mac's Tier One and Hall of Fame designations. He is a Certified Mortgage Banker (CMB) and a graduate of Yale University.

    J. Paul Compton, Jr., General Counsel, U.S. Department of Housing and Urban Development

    J. Paul Compton, Jr. was confirmed by the United States Senate as General Counsel of the U.S. Department of Housing and Urban Development on December 18, 2017 and began with HUD in January 2018. As General Counsel, Mr. Compton serves as the chief law officer of the Department and principal legal advisor to the Secretary. Mr. Compton brings to HUD nearly 30 years of experience in providing legal advice regarding affordable housing transactions, commercial mortgage finance, and consumer lending compliance. He joins HUD from the Birmingham office of the law firm Bradley Arant Boult Cummings LLP where he was a partner and served as the Chairman of the firm’s Finance Committee. Mr. Compton joined the firm in 1989 and spent his career there providing legal advice to developers, non-profits, public housing authorities, banks, and other financial institutions regarding financial transactions and investments in affordable housing and community development projects. He also served as outside General Counsel to the Alabama Affordable Housing Association and as a member, and former state chairman, of the American Bar Association Forum on Affordable Housing and Community Development.

    Helen R. Kanovsky, General Counsel, Mortgage Bankers Association

    Helen R. Kanovsky is General Counsel at the Mortgage Bankers Association (MBA), where she oversees the association's internal legal affairs, compliance and human resources operations. Prior to joining MBA, Helen was the General Counsel at the U.S. Department of Housing and Urban Development. Previously, Helen served stints as General Counsel and Chief Operating Officer at the AFL-CIO Housing Trust, and as General Counsel at both GE Capital Management and Skyline Financial Services. Additionally, Helen worked in private practice and on Capitol Hill, where she served as Chief of Staff to then-Senator (and former Secretary of State) John Kerry.

    Steve O'Connor, Senior Vice President, Public Policy and Industry Relations, Mortgage Bankers Association

    Steve O'Connor is Senior Vice President of Public Policy and Industry Relations at the Mortgage Bankers Association (MBA). He manages MBA's residential policy process for legislative, regulatory, and industry issues. O'Connor directs MBA's regulatory advocacy efforts. He is also responsible for outreach to industry groups, consumer organizations, and other key stakeholders. O'Connor is a regular guest speaker on industry issues.  O'Connor leads MBA's Consumer Affairs Advisory Council. He also serves on a number of industry boards, including the National Housing Conference, the National Association of Hispanic Real Estate Professionals, HOPE LoanPort, Freddie Mac's Affordable Housing Advisory Council, and the National Urban League's Business Solutions Council. O'Connor joined MBA in 1996. Previously, he worked in government affairs for the National Association of Realtors and Freddie Mac. He also worked for Skyline Financial Services Corporation.

    Thomas B. Pahl, Policy Director, Research, Market and Regulations, Bureau of Consumer Financial Protection

    Thomas B. Pahl is the Policy Associate Director for the Division of Research, Markets and Regulation at the Bureau of Consumer Financial Protection. Mr. Pahl has long experience in consumer protection law. Immediately prior to coming to the Bureau, he was the Acting Director of the Bureau of Consumer Protection at the Federal Trade Commission. In prior stints at the FTC, he was an Assistant Director in its Division of Advertising Practices and in its Division of Financial Practices as well as an attorney advisor for FTC Commissioners Orson Swindle and Mary Azcuenaga. He also has served as a Managing Counsel in the Bureau’s Office of Regulations.  In addition to his time at federal agencies, Mr. Pahl has worked in other roles on consumer protection issues. He represented private clients on consumer financial services matters as partner at the law firm of Arnall, Golden & Gregory LLP. Mr. Pahl also was a Counsel for the United States Senate Judiciary Committee under the leadership of Chairman Orrin Hatch, focusing on antitrust and consumer privacy issues. He further spent five years teaching consumer protection law as an adjunct professor of law at George Mason University’s Antonin Scalia Law School.

    Joseph M. (Joe) Gormley, Chief of Staff, Office of Housing, U.S. Department of Housing and Urban Development

    Joseph M. (Joe) Gormley serves as the Chief of Staff to the Assistant Secretary for Housing – Federal Housing Commissioner within the U.S. Department of Housing and Urban Development’s Office of Housing. In this role, Joe serves as the principal advisor to the FHA Commissioner and other senior HUD leadership on strategic planning, policy, priority initiatives, and resource management. He is actively engaged with the Office of Housing’s seven Deputy Assistant Secretaries, facilitating the development and management of each program office’s policies and initiatives.  With a broad background in financial services and housing policy, Joe joined HUD in June 2017. Immediately prior to joining HUD, Joe was Assistant Vice President and Regulatory Counsel at the Independent Community Bankers of America (ICBA) where he was the policy lead on a wide range of legal and regulatory issues, including virtually all consumer financial protection laws and regulations.  Before joining ICBA, Joe served as Associate Regulatory Counsel for the Mortgage Bankers Association, where he was responsible for the Association’s policy on government-insured housing programs and the Consumer Financial Protection Bureau. Earlier in his career, Joe worked for the Office of Fraud Detection and Market Intelligence at the Financial Industry Regulatory Authority (FINRA) where he investigated securities fraud on the major exchanges and in the over-the-counter markets.

    Jeffrey Bolla, Program Analyst, Loan Policy and Valuation, U.S. Department of Veterans Affairs

    Jeffrey Bolla was hired as a Program Analyst, Loan Guaranty Service in July 2012. In this position, Mr. Bolla is responsible for creating and defining loan policy for a nationwide program. His main focus has been translating CFPB’s policies for use within the VA Home loan program. Additionally, Mr. Bolla performs MISMO Data updates to VA systems. He is responsible for ensuring all of the Loan Guaranty Service systems are properly updated to improve the end-user experience for internal and external stakeholders. Prior to coming to VA, Mr. Bolla worked in the mortgage industry for 20 years. In those years, he worked in various positions, such as a loan processor, loan officer, branch manager, and owning a mortgage company.

    John Prendergast, Vice President, Supervision, Conference Of State Bank Supervisors

    John Prendergast serves as the Vice President of Supervision for CSBS. In this capacity John works to promote the development of initiatives for the state banking and non-depository regulatory agencies to better foster coordination and process improvement in both the mortgage and depository banking areas. John also provides expertise and support to state banking Commissioners regarding state and federal policy matters, as well as supporting the professional development division in the creation and delivery of non-depository related schools and programs.  John formerly held the position of Chief Risk Officer at the Massachusetts Division of Banks where he supervised the regulation of nine financial industries comprised of nearly 240 state chartered banks and credit unions and over 10,000 non-bank financial licensees. John began his career at the Division as a bank examiner and has over 24 years of regulatory and policy making experience.