On this episode of Complexity Simplified, the Honorable Seth Appleton sits down with Summit director Josh Goldberg to discuss key topics related to Ginnie Mae, securitization, and issues relevant to the Bipartisan Policy Center’s Housing Council. Specifically, they recap the role of Ginnie Mae in mortgage finance, the key risks that flow from fulfilling that role, and how those risks materialized during the COVID-induced economic shocks. They look at a data standardization program, known as the Mortgage Industry Standards Maintenance Organization (MISMO), and how it applies to securitization. Finally, they discuss the significance of what Ginnie Mae’s foray into the eNote space means for the overall progression of digital mortgages.
The Honorable Seth Appleton is president of MISMO. In this role, he is responsible for leading MISMO as it accelerates the development and deployment of industry-wide standards that reduce friction and improve the integration and flow of data across the industry. He serves as an ex-officio member of MISMO’s board of directors and manages the MISMO staff and volunteer leaders.
Prior to joining MISMO in December 2020, Appleton served as the Assistant Secretary for Policy Development and Research at the U.S. Department of Housing and Urban Development, a position for which he was unanimously confirmed by the United States Senate. In addition to his service as Assistant Secretary, Appleton concurrently served as the Principal Executive Vice President of Ginnie Mae, a government corporation guaranteeing the timely payment of principal and interest on more than $2 trillion in mortgage-backed securities.
Mr. Goldberg leads the data science team at Summit and is also a subject-matter expert in mortgage finance.
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