On the Hill Episode 17: Bob Broeksmit, MBA President & CEO
In this episode of On the Hill, Tim Rood, SitusAMC’s Head of Government and Industry Relations, talks with Bob Broeksmit, President & CEO of the Mortgage Bankers Association. They discussed the intensifying regulatory landscape in Washington, D.C., trends in mortgage lending amid rising interest rates, and when Fannie Mae and Freddie Mac might emerge from conservatorship.
Broeksmit said he recently met with the administration at the White House and discussed the fact that most mortgages today are made by independent mortgage banks (IMBs). “While some in this town know that really well, others are perpetually surprised when we make that point,” he said. “It’s largely because a lot of the policies promulgated by regulators in Washington have driven banks out of the mortgage business. What we say is, don’t do to the IMBs what you did the banks, because who in the world is going to come after them and make all these mortgages that are so critical to our country?”
Broeksmit also talked about his childhood in southern Illinois, where he started delivering papers at age nine and worked his way up from dishwasher to waiter at a local restaurant to save for college. In his nearly four decades in the industry, Broeksmit has led all aspects of mortgage lending activities, including marketing, sales, operations, secondary marketing, loan servicing, and default management, at companies such as Treliant, Chevy Chase Bank, Prudential Home Mortgage and Great Western Mortgage. Listen to the podcast above.