GENERAL SESSION: FASB Update

Fran Mordi, CMB, AMP

Vice President, Financial Management, Tax and Accounting Policy, Mortgage Bankers Association

Fran Mordi joined the Mortgage Bankers Association in May of 2017 after 20 years of post-Law school experience in the areas of tax and accounting. Prior to joining MBA, Fran worked at the American Bankers Association and Deloitte Tax, LLP on domestic and international tax issues impacting the financial services industry. Fran has specific expertise in putting together training sessions and presenting at bank tax conferences and panels. Fran has extensive experience working with the banking regulators, FASB, the Treasury and Congress as an advocate of the financial services industry. Fran holds a J.D. from New England Law School, Boston, MA, and an LL.M in Taxation from Georgetown University Law School, Washington, DC.

Michelle Richardson, CMB, AMP

Senior Vice President & Chief Financial Officer, Plaza Home Mortgage, Inc.

Michelle Richardson is the SVP and Chief Financial Officer at Plaza Home Mortgage, Inc., a privately owned, full-service national correspondent and wholesale lender. An industry veteran with more than 20 years of financial and operational experience, Ms. Richardson joined Plaza in 2019. Prior to Plaza, she was Vice President of Treasury at loanDepot and earlier held finance positions with Icon Residential, T-Force, and IMPAC Mortgage. In her current role, she oversees Accounting, Financial Analysis, Treasury, Payroll, Facilities and Administration and has extensive experience in strategic planning, revenue maximization, cost efficiency, timely and accurate financial reporting and the development of effective systems and controls. Ms. Richardson has her Masters in Accounting and is a Certified Mortgage Banker (CMB) as well as a Certified Treasury Professional CTP).

Hillary H. Salo

Vice Chair, Financial Accounting Standards Board (FASB)

Salo began her term as vice chair of the Financial Accounting Standards Board (FASB) on July 1, 2024. Her first term on the Board concludes June 30, 2029, when she will be eligible to be considered for reappointment to a second term. Prior to joining the Board, Salo spent four years on the FASB staff as technical director and chair of its Emerging Issues Task Force (EITF). As technical director, she was responsible for leading the Board’s standard-setting activities and staff, guiding its successful agenda reprioritization, and driving progress on stakeholder priorities. Salo joined the FASB in 2020 from the New York City office of KPMG LLP, where she was a partner in the audit practice and engagement partner for a large global financial services organization. She began her KPMG career in the Chicago office in the accounting advisory services group before joining the audit quality and professional practice group in the New York City office. Salo also served as a professional accounting fellow in the Office of the Chief Accountant at the U.S. Securities and Exchange Commission in Washington, DC.