FHLB-San Francisco will be led by former Radian manager Teresa Bazemore
While not inactive in the housing industry since her retirement in 2017, Teresa Bryce Bazemore said the opportunity to advance the goals of the Federal Home Loan Bank of San Francisco brought her back to full-time.
Bazemore will become President and CEO of Bank of San Francisco on March 15, replacing Stephen Traynor, who has held both titles on an interim basis since Greg Seably resigned a year ago.
“When you think about what I have focused on and what has been very passionate about my career, that largely aligns with the bank’s mission: affordable housing, community development and economic development. Said Bazemore. “It seemed like the perfect combination for me to work with the Bank and it was something exciting enough to attract me out of retirement.“
From July 2008 to April 2017, Bazemore was President of private mortgage insurer Radian Guaranty. Her career in the mortgage industry started in September 1990 as vice president and associate legal counsel of Prudential Home Loans. Bazemore was also at NationsBank, where she helped integrate the mortgage business with Bank of America after the amalgamation of these organizations, then became part of the management team of Nexstar Financial prior to its sale to MBNA.
After leaving Radian, Bazemore was elected to the board of directors of the Federal Home Loan Bank of Pittsburgh, where she served between August 2017 and February 2019.
Although the role of the Bank of San Francisco in housing finance is different from that of Radian, the two are aligned to help low to moderate income borrowers access affordable credit and create affordable housing opportunities. and a sustainable property, said Bazemore.
“The bank’s mission is broader in that we also help with other types of housing opportunities that are not always home ownership, but other ways of providing affordable housing in the city. community, ”she said.
At Prudential Home Loans, Bazemore participated in the task force that created products that expanded its lending to include more opportunities for low and moderate income consumers, and an initiative to increase the reach of minority borrowers.
During Bazemore’s time at NationsBank, she worked on equity loans as well as her community development bank. This experience is consistent with the San Francisco Home Loan Bank’s goal of helping small businesses.
Bazemore has already had preliminary discussions with the management team of the San Francisco Home Loan bank, updating themselves on its activities.
During the pandemic, Bazemore noted, “the system as a whole has really stepped up and worked the way it was supposed to work in a situation like this. We will continue to see if there are opportunities to do so. more to help our members assist their clients in the communities of our “California, Nevada and Arizona footprint”.
She seeks to educate stakeholders, especially those in Washington, about the role of the Bank of San Francisco in the U.S. financial system and how it has benefited members and the community during the pandemic.
“The Federal Home Loan Bank system is the other GSE if you will and it provides a lot of low cost liquidity in the system,” Bazemore said. “But for most people that role is not at the forefront and I think we need to make sure that in the future, policymakers in particular, but more broadly everyone, understands how much banks Federal home loans are important to the overall economy and the housing economy. “