MBA Presents Smriti L. Popenoe with the 2025 CREF Distinguished Service Award
SAN DIEGO–The Mortgage Bankers Association awarded Smriti L. Popenoe, Co-CEO, President, and Chief Investment Officer at Dynex Capital, with the 2025 Commercial Real Estate Finance Distinguished Service Award here at its 2015 Commercial/Multifamily Finance Convention and Expo.
“Smriti has been an integral member within the MBA, bringing decades of expertise in finance, capital markets, and risk management to advance our industry. Her deep knowledge in investment leadership and portfolio optimization has been instrumental in shaping MBA’s efforts, particularly through her service on key committees and councils.” said Laura Escobar, 2025 MBA Chair and President of Lennar Mortgage. “As a valued member of MBA’s Commercial Real Estate Finance Board of Governors, she has played a pivotal role in driving policy discussions and best practices that benefit our members and the broader market. Beyond her technical expertise, Smriti’s dedication to mentorship and collaboration continues to elevate the industry, and I am honored to present her with this award.”
As President of Dynex Capital, Popenoe is accountable for the raising, deployment, and management of the company’s capital. As Chief Investment Officer, she oversees the company’s investment portfolio of agency and non-agency Residential Mortgage-Backed Securities (RMBS), Commercial Mortgage-Backed Securities (CMBS), loans, and financing arrangements. Prior to joining Dynex, Popenoe served as Chief Risk Officer at PHH Corporation. Before that, she was the Senior Vice President with Wells Fargo (Wachovia Bank at the time), where she managed the $100+B investment portfolio and led their team through the financial crisis of 2009. Popenoe received the Chartered Financial Analyst (CFA) designation in 1997.
Popenoe has been an active MBA member for several years, serving on numerous councils and committees. She is currently appointed to MBA’s 2025 Commercial Real Estate Board of Governors. Popenoe previously served as the Investment Committee Chair and on the REIT Executive Council.
What they are saying:
“Smriti served on COMBOG for one term, providing excellent intel on market reactions and forecasts. She also provides invaluable insight as the chair of the Investment Committee. She patiently offers answers to many questions from the Board related to maximizing our dollars while measuring the right amount of risk and return. She provided powerful messages during a recent mPower session – “Get everyone else out of your head” and “Accept yourself for who you are!” – she is a leader and a friend!” – Christine Chandler, 2025 MBA Chair-Elect, EVP, COO, Chief Risk Officer, M&T Realty Capital Corporation
“Smriti is one of those very rare people who can fascinate you with their experience, awe you with their intelligence, and humble you with their commitment. Her contributions to the MBA – and, through it, the industry – are a gift to us all. Thank you, Smriti, for all you’ve done for all of us.” – Jamie Woodwell, SVP Commercial/Multifamily Policy and Strategic Industry Engagement, MBA
Nominees for the CREF Distinguished Service Award must be associated with an MBA member firm, have a record of sustained and extraordinary service to MBA and the commercial/multifamily real estate finance industry, and possess a strong reputation of ethical and professional conduct. This award is the highest honor an individual can receive from fellow MBA CREF members.
