TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/768639
58 | TH E M R EP O RT O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T THE LATEST GOVERNMENT Former FHFA Director Lockhart to Keynote 2017 Five Star Government Forum Lockhart's resume includes several presidential appointments and Senate confirmations. DISTRCIT OF COLUMBIA // James B. Lockhart III, Vice Chairman of W.L. Ross & Co. LLC and former Director of the Federal Housing Finance Agency, will deliver the morning keynote address at the 2017 Five Star Government Forum in Washington, D.C., in April, according to an an - nouncement from the Five Star Institute. Lockhart's distinguished career includes an extensive background in financial services management and serving in a series of presidential-appointed and Senate-confirmed housing-related positions with the U.S. government. In 2006, he was nominated by President George W. Bush for the po - sition of Director of the Office of Federal Housing Enterprise Oversight, which is now a part of the FHFA. In 2008, Lockhart helped create the FHFA and served as the agency's Director and Chairman of the Oversight Board. In 2009, Lockhart joined W.L. Ross & Co. LLC, the dis - tressed investment affiliate of Invesco Ltd. as Vice Chairman. "We are honored to have a respected and accomplished leader of Mr. Lockhart's caliber join us at the Five Star Government Forum," said Five Star Institute President and CEO Ed Delgado. "Jim's unique background and expertise will provide attendees the opportunity to gain valuable insight into the economy and the housing industry as we transition to the new administration." Other government positions Lockhart has held in - clude Director of the Financial Stability Oversight Board; Deputy Commissioner and COO of the Social Security Administration and Secretary to the Social Security Board of Trustees; serving on George W. Bush's Management Council and on its Executive Committee; and CEO of the Pension Benefit Guarantee Corporation during the George H.W. Bush Administration. In the private sector, Lockhart co-founded and served as Managing Director of NetRisk, a risk-management software and consulting firm. Lockhart has a bachelor's degree from Yale University and a master's degree from the Harvard Graduate School of Business Administration. While in the Navy, he served on a nuclear submarine as an officer. The 8th Annual Five Star Government Forum will take place on April 5, 2017, at the Newseum in Washington, D.C. Editor's Note: The Five Star Institute is the parent company of MReport. President-Elect Trump and Financial Transition Team Gather The meeting held in NYC included prominent business leaders. A t a breakfast event hosted by the admin- istration's Transition Finance Committee in New York last month, President- elect Donald J. Trump addressed an audience made up of a num - ber of his cabinet appointees, transition team members, and prominent business leaders. The two-hour gathering, which was held at Cipriani 42nd Street, was by invitation only. Steven Mnuchin, Trump's Treasury Secretary appointee, gave the opening remarks. Mnuchin, who was the National Finance Chairman for Trump's campaign, is a hedge fund man - ager and former Goldman Sachs Partner. If the Senate confirms Mnuchin, he could take his posi- tion as the 77th Secretary of the U.S. Department of the Treasury as early as January. Mnuchin went on record early after his nomination saying that he would seek to address the roles Fannie Mae and Freddie Mac hold in the marketplace, commenting that privatizing the GSEs is "right up there on the top-10 list of things we're going to get done." Reince Preibus, former Republican National Committee Chairman and Trump's new Chief of Staff, followed Mnuchin and introduced Trump. During his remarks, Trump recounted his journey to the presidency and the history-making election night that surprised many Americans, including some Trump supporters. "[W]e ended up with 306 electoral votes, which is a big, big number. That's a bigger number than anyone thought anybody could get . . . . So we ended up with 306, we ended up with an incredible victory, and now the work begins," said Trump. "We've appointed some tremendous people like Steve Mnuchin and others in this room to different posts, and we're going to do a great job. The work really does begin," he continued. Throughout his campaign, Trump outlined that he would seek to decrease the scope of regulation on business, a point he reiterated during the Transition Finance Committee event. In order to encourage global corporations to move more of their operations to America, Trump said, "We're going to be lowering taxes from 35 percent down to 15 percent. We're going to be cutting regulations to a level you've never seen before." Decreasing business regulations is a point on which Mnuchin and Trump agree. Upon his appoint - ment, Mnuchin outlined a number of his initiatives on CNBC's Squawk Box, one of which is rolling back the Dodd-Frank Wall Street Reform and Consumer Protection Act. Five Star Institute President and CEO Ed Delgado, who was in attendance for the event, said, "It was honor to attend this impor - tant gathering. It's encouraging to see that the President-elect has put people in place who will affect positive change in the financial sector. Mr. Trump is accurate