GENERAL SESSION: What Leaders Are Watching with CNBC’s Steve Liesman

Senior Economics Reporter, CNBC

As CNBC’s senior economics reporter, Steve Liesman reports on all aspects of the economy, including the Federal Reserve and major economic indicators. He appears on “Squawk Box” (M-F, 6AM-9AM ET), as well as other CNBC programs throughout the business day. Liesman joined CNBC from The Wall Street Journal where he served as a senior economics reporter covering monetary policy, international economics, academic research and productivity. At the Journal, Liesman previously worked as an energy reporter, and Moscow bureau chief. He won an Emmy for his coverage of the financial crisis and was a member of the reporting team recognized with a Pulitzer Prize for stories chronicling the crash of the Russian financial markets. Prior to joining the Journal in 1994, Liesman was the business editor for The Moscow Times, where, as the founding business editor for the country’s first English-language daily newspaper, he helped create the publication’s stock index, which was the country’s first. Liesman also has worked as a business reporter for both the St. Petersburg Times in St. Petersburg, Fla., and The Sarasota Herald-Tribune in Sarasota, Fla. Liesman holds an M.S. from Columbia University Graduate School of Journalism and a B.A. in English from the State University of New York, Buffalo.

Managing Director, Bayview Asset Management, LLC

Michael Lau, Chief Executive Officer of Pingora Asset Management, has over 30 years of expertise in loan servicing, underwriting, quality control, IT, accounting, finance, capital markets, and business development. Throughout his career, Michael’s understanding of MSRs aided numerous companies through negotiating the sale of servicing rights on a flow and bulk basis. Prior to Pingora, Michael spent 12 years on the senior management team at Phoenix Capital, a leading firm managing the sales and valuation of mortgage servicing rights. His management of new business development, as well as existing client bases, mergers and acquisitions, whole loan brokerage, and strategic planning helped to significantly expand the firm. In the six years prior to joining Phoenix, he was Executive Vice President and Chief Operating Officer at First Colorado Mortgage Corporation, an independent mortgage banker. He directed its expansion of secondary marketing, underwriting, information systems, and accounting, and was instrumental in the acquisition of four independent mortgage companies, taking the company from a $350-million-a-year retail lender to a $2 billion-a-year full-service mortgage banker. Michael began his career with Criterion Financial Corporation, a dynamic independent full-service mortgage company, working first in loan servicing and then secondary marketing. Subsequently he held positions at Spies Homes and Benchmark Mortgage (1989-1991) and Rocky Mountain National Bank (1991-1993). Michael has a B.S. in accounting from Gonzaga University, is a Certified Public Accountant and Certified Mortgage Banker.

Senior Executive Vice President and Chief Operating Officer, Freedom Mortgage Corporation

Mike Patterson serves as senior executive vice president and chief operating officer of Freedom Mortgage, one of the largest and fastest-growing independent mortgage companies in the country. He is responsible for many functional and operational areas, including capital markets, finance, investor relations, and mortgage operations, as well as the strategic growth of the company. Mr. Patterson began his career in the mortgage industry in 2000 at Irwin Mortgage Corporation, based in Fishers, Indiana. In 2006, Mr. Patterson joined Freedom Mortgage through the company’s acquisition of Irwin Mortgage. Mr. Patterson quickly flourished at Freedom Mortgage and was promoted to vice president of finance in 2008. He was promoted again to senior vice president in 2013. In 2014, Mr. Patterson was named executive vice president and, later in that same year, chief of staff. In 2019, Mr. Patterson was promoted to chief operating officer of Freedom Mortgage. Over the course of Mr. Patterson’s career within the mortgage and finance industries, he has established himself as a top-level executive. He takes pride in his ability to bridge the gap between upper and middle management through his extensive industry knowledge. His acute understanding of market trends has been instrumental in the company’s ability to strategically plan for financial agility. Founded in 1990 and headquartered in Boca Raton, Florida, Freedom Mortgage is an independent mortgage company that provides mortgage loans through retail, wholesale, and correspondent channels. One of the nation's largest mortgage lenders and services, the company is licensed in all 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands. Freedom Mortgage is a top VA and FHA (government insured) lender in the U.S. (Inside Mortgage Finance, January-September 2025) and is one of the mortgage industry's largest philanthropic supporters of the USO. The company is also renowned for its vibrant work environment, where all team members can thrive. In 2025, Freedom Mortgage was honored, for the fifth year in a row, as a Top Workplaces USA. Freedom Mortgage's mission is to foster homeownership for all consumers across America. Freedom Mortgage, Lender NMLS ID: 2767. Equal Housing Opportunity. In 2024, Mr. Patterson was honored with HousingWire’s prestigious Vanguard Award which recognizes executives within the housing economy for their outstanding leadership. In 2023, Mr. Patterson was named a Power 50 leader by South Jersey Biz magazine. In 2021, HousingWire honored Mr. Patterson with a Finance Leaders Award, which recognizes top finance executives who drive financial performance. In 2015, Mr. Patterson was recognized with HousingWire’s Rising Stars Award, identifying the brightest and most accomplished leaders under 40 in the industry. Mr. Patterson is a state advisory board member of The Salvation Army of New Jersey. He is an active member of the MBA Residential Loan Committee and Secondary Capital Markets Committee and also serves on the MBA Residential Board of Governors.

Executive Vice President, Fifth Third Bank

James “Jay” Plum is executive vice president and manages Real Estate Lending (Mortgage & Home Equity), Indirect Auto and Specialty Lending (RV and Marine businesses), and Dividend (Solar and Home Improvement Financing). He oversees the origination and servicing activities of those secured products. Before joining Fifth Third in April 2021, Jay served for 12 years in roles of increasing responsibility at Huntington Bancshares, most recently as executive vice president of consumer finance. In that position, he was responsible for the origination functions of mortgage, home equity, personal loans, and for card products. Under his leadership, mortgage lending grew to be the top mortgage lender in Ohio and home equity grew to be a top ten lender in the U.S. Jay joined Huntington in 2009 as director of consumer lending after serving five years at Citizens Bank, where he rose to president of home lending, including mortgage and consumer lending. Jay began his career at Bank One in Cincinnati. He also worked for Provident Bank in Cincinnati, where he was manager of consumer lending, mortgage and card services. Jay earned a bachelor’s degree from Colgate University and an MBA from Vanderbilt University. Jay serves as a Board Member and Treasurer of the Cleveland Ballet. His commitments with professional organizations include service on the board of directors of the Mortgage Bankers Association, where he was a member of the Affordable Housing and Audit Committees. He served as the President of the Ohio Mortgage Bankers Association. He has also served on the Consumer Bankers Association’s Home Equity Committee, Equifax’s Customer Advisory Board, Fannie Mae’s National Advisory Board, the Debit Card Advisory Committee at Mastercard, TransUnion’s Banking Advisory Board and LendingTree’s Customer Advisory Board.