HUD Official To Lead MISMO

Seth Appleton is leaving the U.S. Department of Housing and Urban Development and Ginnie Mae to serve as the new president of MISMO, the Mortgage Bankers Association announced Monday.

MISMO is a non-profit subsidiary of MBA and is responsible for developing standards for exchanging information and conducting business in the mortgage finance industry in the United States.

Appleton is the Assistant Secretary for Policy Development and Research at HUD and the Principal Executive Vice President at Ginnie Mae.

“Seth’s considerable experience in senior leadership roles at HUD will serve MISMO well as it enters an exciting new phase of its standards development work,” MBA President and CEO Bob Broeksmit said. “MISMO is helping lead our industry into the digital future, and Seth’s background meeting the competing needs of various stakeholders aligns well with the goals of the organization as it grows and increases its contributions to our industry.”

Appleton, who previously worked for U.S. Reps. Blaine Luetkemeyer and Sam Graves, made the jump before John McEntee, the director of the Office of Presidential Personnel, threatened to fire political appointees who looked for other jobs before President Trump’s term ends January 20.

“Seth’s background shone through during a very competitive selection process,” said Kurt Pfotenhauer, Chairman of the MISMO board and Vice Chairman of First American. “MISMO is undergoing a transformation to truly become the language of lending for the mortgage industry, allowing everything and everyone to communicate seamlessly. Seth’s knowledge of housing finance and experience with digital transformation make him the right person to take the helm of MISMO.”