145 Risk Management with Terri Merlino

In this episode we have another incredible subject matter expert from Freddie Mac, Terri Merlino. We have a conversation about risk management, specifically what Freddie Mac is actively doing to create affordable credit options for home buyers, how mortgage originators can use tools to create efficiency and productivity, as well as what a culture of risk awareness looks like.   Episode breakdown:  00:00 – Intro  01:49 – Terri’s background  4:56 – Freddie’s approach to Risk Management   7:28 – Underwrite to approve vs. underwrite to decline  11:22 – Today’s changing market  13:15 – Interest rate increases   16:23 – Culture & mindset  17:50 – The need for loan officers  19:20 – Getting consistent referrals  Terri Merlino is Senior Vice-President & Chief Credit Officer for Freddie Mac’s Single-Family Division. She leverages her broad-based knowledge of mortgage operations, sales, processing, underwriting, quality control and secondary marketing activities to substantially and positively impact Freddie Mac’s mortgage credit risk management efforts, as well as our client experience.  Prior to Freddie Mac Terri held the roles of Chief Credit Officer and Chief Risk Officer at New Penn Financial and spent many years at PHH Mortgage as Senior Vice-President of Credit and Operational Risk, where she was responsible for fostering a risk-aware culture through her leadership of all aspects of credit and operational risk management.  Terri has served on several industry committees, including Fannie Mae’s Risk Management Forum and Freddie Mac’s Credit Advisory Board, and twice been named a HousingWire Women of Influence. She also holds a Bachelor of Business Administration in accounting from the University of Houston.  Connect with her on LinkedIn: https://www.linkedin.com/in/terrimerlino   Learn more: www.FreddieMac.com   If you are enjoying the MME podcast, please take a second and LEAVE US A REVIEW, and don't forget to connect with us on social media!