MBA Chairman-Elect: ‘Quality Control Saved the Industry’

LOS ANGELES–Mortgage Bankers Association Chairman-Elect Chris George puts it simply: quality control saved the real estate finance industry.

“The quality of business we do today exceeds anything in my 36 years in this industry–any time in this industry,” George said here at the Mortgage Bankers Association’s Risk Management, Quality Assurance and Fraud Prevention Forum. “We are doing things better today than we’ve ever done them, and quality control professionals are the ones who made this happen.”

George, Founder, President and CEO of CMG Financial, San Ramon, Calif., said in the wake of the 2008 financial crisis, the real estate finance industry tightened its controls and improved its quality control and fraud detection practices. “Today, it’s safer to apply for–and to make a loan–than ever,” he said.

George warned, however, despite the improvement in quality controls, the industry must remain vigilant. “We are one major data breach away from another disaster,” he said.

George will become Chairman of MBA next month at the MBA Annual Convention & Expo (Oct. 14-17) in Washington, D.C. “I’m excited to work for you,” he said. “Washington is a very different place right now; we’re not alone out there. The industry is coming together in ways that is forcing Washington to listen.”