[1]Mortgage Guaranty Insurance Corporation [2] (MGIC), principal subsidiary of MGIC Investment Corporation has selected Stephen Mackey to be EVP-Chief Risk Officer. Mackey will be stepping in to take newly retired Lawrence Pierzchalski’s place and will begin in his new position in late June.
MGIC serves lenders throughout the United States, Puerto Rico, and other locations and has said their mission is to make affordable homeownership a reality for families through affordable, low-down-payment mortgages.
According to a recent press release, Mackey has over 30 years’ experience in the financial services industry. Previously, he held numerous senior positions at JPMorgan Chase & Company and most recently was Managing Director, Firmwide Market Risk. He worked for Fannie Mae for 13 years, managed the Office of Federal Housing Enterprise Oversight (the predecessor to the Federal Housing Finance Agency), which regulated Fannie Mae and Freddie Mac, served on the Board of Governors of the Federal Reserve System, and was CFO of a successful start-up commercial bank.
"Steve's combination of Midwestern roots and skills he has acquired from having worked for large complex financial organizations makes him uniquely suited to lead our risk management team," said Patrick Sinks, CEO of MTG and MGIC. "Our industry is in great shape to expand our role in the market and Steve's experiences, in both the public and private sector, will provide us invaluable insight into how we can expand our role while maintaining a robust risk management culture."