Marissa, I met you awhile back during the Pandemic. You were always so helpful in sharing insights around the regulatory issues with loss mitigation and I knew then how you stood out with your expertise and ability to communicate complex issues. It was also really fun to co-brand a webinar with you, Housing Finance Strategies and Padgett Law Group, with an update from the Government regulators on loss mitigation strategies.
Few leaders enjoy the background and presence you have that spans the complexities of housing finance and especially legal and compliance matters. So I appreciate you making time for me and sitting down for our Women in Leadership interview series. What a remarkable story you have to share with the industry. Let’s get to it.
Faith Schwartz: Please share with us your background and how you ended up at Padgett Law Group?
Marissa Yaker: Faith, thank you for your kind words. It truly is my passion to share information and ensure that everyone has access to it. We are all a team in this industry with a common goal to ensure that the Borrower has the best experience and that we are complying with all applicable laws and regulations. That is what brought me to PLG, after meeting with the executive leadership at the firm, and seeing the dedication that the firm showed to its employees and the desire to ensure accuracy and a high level of skill.
FS: You have been with Padgett for over seven years and you have progressed to Deputy General Counsel of Regulatory affairs. Talk about your career progression there and the role you now play for the firm.
MY: This goes back to my original statement in that PLG truly cares about its employees and embraces its employees’ strengths—the firm markets around the hashtag #PadgettPeople and that comes from a real place of pride. When I first started at PLG, I was at a time in my life when it was more important for me to have flexibility in my schedule. PLG was gracious enough to allow me to have it and then supported my decision when I expressed that I wanted to expand my role at the firm. PLG also recognized that I truly loved reading the regulations and agency handbooks and engaging with agencies, which led to the firm creating my current role. I feel extremely fortunate to be able to say that I love what I do.
FS: A few years ago, I recall we had a conversation around how you desired to get more active with the Government agencies and public policy / consumer related issues. What is generating your interest in public policy?
MY: I think that everything that happens in our industry has a far-reaching impact. These are people’s homes, their memories when we are discussing foreclosures. Everyone I have encountered in this industry takes that very seriously. That is what sparked my interest in public policy, ensuring that when new regulations or changes come out, the industry as a whole can understand it, ensure compliance, and have the ability to speak to any areas of confusion or concern.
FS: In a very exciting development, you recently announced the formation of AISLE. What is AISLE?
MY: AISLE, in a nutshell is a think tank. Taking the industry’s key thought leaders and having everyone sit in one room, discussing what is happening in our industry, why it is important, and how it will impact everyone in the room. Be it law firms, servicers, or vendors we all are impacted when new case law is released, or amendments, handbook updates, regulations, or letters. We all deserve a seat at the table and AISLE offers that table.
FS: This is very timely. Walk us through your journey and what you hope to achieve in this next chapter of your career.
MY: In this next chapter, I hope to achieve a unified voice by collaborating with AISLE’s members, leaders, and other trade associations. Each of us brings something to the table, and together, we can continue to help the agencies that are continuously and tirelessly (especially over the past few years) working diligently to help Borrowers.
FS: Will you, through AISLE, continue to be a strong information sharing resource to your colleagues in the mortgage and housing industry? In what ways will AISLE help you accomplish this mission?
MY: Yes, that part of my mission will not go away. Everyone must have access to the same information. As an industry, we cannot make informed decisions if we do not have every piece of the puzzle. AISLE will continue to allow me to share information as I have had in the past.
FS: What other aspirations do you have to evolve this organization … and the next chapter?
MY: I mentioned it before, but it’s worth saying again: a unified voice and ensuring that everyone has a voice is very important to the mission behind AISLE. Our industry has seen so much over the years, and everyone has lessons learned. Accordingly, my personal aspiration for AISLE is that everyone who is a part of it feels empowered, that they can contribute, and that they are equal.
As for my next chapter, after AISLE is to be determined, but I do know that it will be in this industry as that is where my passion lies. I am currently focusing on the now, and everything that AISLE can and will do.
FS: Can you share a fun fact with us – something fun we don’t know about you?
MY: Some may know this, and others may not, I have an identical twin sister. For what it is worth, I am a minute older, and yes, it matters.
Postscript
What a great interview! So much to learn from Marissa!
At Housing Finance Strategies, we are leading change in all things housing. By interviewing key executives like Marissa, our intent is to educate and encourage the industry to constantly grow and evolve.
Thanks so much to Marissa for taking the time. And as I like to say: Grow, lead and mentor your peers!
*Licensed in Florida