GENERAL SESSION: Real Estate Finance Forecast & Commentary

Lisa J. Haynes, CPA

SVP, Chief Financial Officer and Chief Diversity and Inclusion Officer, Mortgage Bankers Association

Lisa J. Haynes is Senior Vice President, Chief Financial Officer, and Chief Diversity and Inclusion Officer for the Mortgage Bankers Association (MBA). As the Chief Financial Officer, Haynes is responsible for accounting and financial functions, including setting the policies, procedures, strategies and practices of MBA, as well as overseeing the Association's assets. She also works to ensure future financial stability for MBA through strategic planning and forecasting. With over 30 years of experience in the fields of finance and accounting, Haynes brings a wealth of knowledge to the CFO position. Prior to joining MBA, Haynes worked for Fannie Mae and served the company in several positions including Vice President of Financial Planning & Analysis, Vice President for Finance Transformation, and Vice President for Operational Accounting, where she led a team of 45 professionals responsible for the management of single and multifamily loans worth approximately $3 trillion. Haynes has also been named as MBA's Chief Diversity and Inclusion Officer. In this role, she serves as an executive-level strategist partnering with the leaders of MBA's diversity and inclusion initiatives to promote a comprehensive strategy that fosters a culture of diversity and inclusion within the real estate finance industry. In addition to working with Human Resources, Lisa develops and implements plans, programs, and activities that educate and engage employees on the value of diversity and the critical importance of inclusion. Before her work at Fannie Mae, Haynes established and grew her own consulting practice in Massachusetts. Her practice specialized in financial consulting services for nonprofits and small businesses. Haynes was also the Senior Associate Controller and Director for John Hancock Financial Services, Inc. in Boston where she led the SEC and Management Reporting team during the company's demutualization in 2000. Haynes holds a Master of Business Administration from the Boston University Graduate School of Management, Bachelor of Science in Accounting from Bentley College, and is certified as a public accountant in the state of Virginia.

Mike Fratantoni, PhD

Chief Economist and Senior Vice President of Research and Industry Technology, Mortgage Bankers Association

Mike Fratantoni, Ph.D., is MBA’s Chief Economist and Senior Vice President of Research and Industry/ Technology. In this role, he is responsible for overseeing MBA’s industry surveys, benchmarking studies, economic and mortgage originations forecasts, industry technology efforts, and policy development research for both single-family and commercial/multifamily markets. Additionally, Fratantoni is president and member of the Board of Directors of MISMO and serves on the CSP’s Industry Advisory Group and the membership committee of MERS. Prior to joining MBA, Fratantoni worked in the industry in risk management and senior economist roles at Washington Mutual and Fannie Mae.

Smriti L. Popenoe, CFA

President and Co-Chief Investment Officer, Dynex Capital, Inc.

Smriti L. Popenoe joined the Board of Directors at Dynex in September 2023. She is President and Chief Investment Officer of the Company. Her extensive career in finance and capital markets brings a wealth of expertise in risk management, investment leadership, and best practices in portfolio optimization. She was recently named to the MBA Commercial Real Estate Board of Governors and volunteers as the Chair of the Investment Committee for the Mortgage Bankers Association. As President of Dynex, Smriti is accountable for the raising, deployment, and management of the company’s capital. As Chief Investment Officer, she leads the team that oversees the Company’s investment portfolio of agency and non-agency Residential Mortgage-Backed Securities (RMBS), Commercial Mortgage-Backed Securities (CMBS), loans; associated hedges in fixed-income derivatives, and financing arrangements. With almost three decades of career success, she served as Chief Risk Officer at PHH Corporation, a leading provider of mortgage banking and fleet management outsourcing services. As Senior Vice President with Wells Fargo (Wachovia Bank at the time), she managed the $100+B investment portfolio and led the team through the financial crisis of 2009. Further reflecting a broad career, she served as Senior Vice President, Investments with Sunset Financial Resources, a startup REIT. She managed an investment portfolio of $400B fixed-rate mortgage-backed securities (MBS) and whole loans while with Freddie Mac during the early years of her career. Ms. Popenoe received the Chartered Financial Analyst (CFA) designation in 1997 and holds three degrees: an MBA from the University of Rochester, a Master’s-level French diploma from the Alliance Française, and a B.S. in Chemistry and Environmental Science from St. Joseph’s College in Bangalore, India. Dedicated to building winning teams and mentoring others, she is a Founding Member of the Washington DC chapter of Chief, the only organization designed for senior women leaders to strengthen their leadership journey, cross-pollinate ideas across industries, and effect change from the top down.