The Mortgage Bankers Association is promoting Michael Fratantoni to be the association’s new chief economist. He will succeed Jay Brinkmann who is retiring early next year.
MBA president and chief executive David Stevens announced the appointment on Thursday. “Mike has been an invaluable resource to MBA and its members as we try and navigate an ever-changing industry and economic environment,” Stevens said. His appointment will be effective Feb 1.
Frantantoni is currently vice president for single-family research and policy development. He has a Ph.D. in economics from Johns Hopkins University and a B.A. in economics from William and Mary.
He has worked as an economic strategist at Washington Mutual and a researcher and senior economist at Fannie Mae.
On Sept. 30, MBA revealed that Brinkmann will be retiring at the end of January. The Louisiana native joined the trade group in 2001 and has served as MBA’s chief economist since 2008. He plans to retire in New Orleans where he owns a historic old home on Canal Street next to a streetcar line. He bought it a year ago and renovations are needed.
Brinkmann told NMN that he is already getting calls to do various consulting projects. He might consider that later on. “For the moment I am looking forward to taking some time off for the first time in a very, very long time,” he said.
On Oct. 30, Brinkmann and Fratantoni will be presenting their economic forecast at the MBA annual convention in Washington.