Raymond H. Lapin (13 February 1919 – 2 April 1986) was an American mortgage banking executive known as the father of the

secondary mortgage market The secondary mortgage market is the market for the sale of securities or bonds collateralized by the value of mortgage loans. A mortgage lender, commercial bank, or specialized firm will group together many loans (from the "primary mortgage mark ...

. He served under President

Lyndon B. Johnson Lyndon Baines Johnson (; August 27, 1908January 22, 1973), often referred to by his initials LBJ, was an American politician who served as the 36th president of the United States from 1963 to 1969. He had previously served as the 37th vice ...

as creator and first president of the

Government National Mortgage Association The Government National Mortgage Association (GNMA), or Ginnie Mae, is a government-owned corporation of the United States Federal Government within the Department of Housing and Urban Development (HUD). It was founded in 1968 and works to exp ...

(GINNIE MAE) and the

Federal National Mortgage Association The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the N ...

(

Fannie Mae The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the N ...

) from 1967 to 1969. Lapin earned his bachelor's degree from

University of California at Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant univ ...

in 1942 and MBA from

University of Chicago The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...

in 1954. He founded Bankers Mortgage Co. in 1954, which was sold to

Transamerica Corporation The Transamerica Corporation is an American holding company for various life insurance companies and investment firms operating primarily in the United States, offering life and supplemental health insurance, investments, and retirement services. ...

in 1963. Because of his connections with Johnson, he made the

master list of Nixon political opponents Master or masters may refer to: Ranks or titles * Ascended master, a term used in the Theosophical religious tradition to refer to spiritually enlightened beings who in past incarnations were ordinary humans *Grandmaster (chess), National Master ...

.Pace, Eric (April 6, 1986)
Raymond H. Lapin, 67, dead; fought Nixon at Fannie Mae.
''

New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid d ...

'' Lapin died of complications from

heart disease Cardiovascular disease (CVD) is a class of diseases that involve the heart or blood vessels. CVD includes coronary artery diseases (CAD) such as angina and myocardial infarction (commonly known as a heart attack). Other CVDs include stroke, hea ...

at Marin General Hospital in

Greenbrae, California Greenbrae is a small unincorporated community in Marin County, California. It is located south-southeast of downtown San Rafael, at an elevation of 33 feet (10 m), located adjacent to U.S. Route 101 at the opening of the Ross Valley. Part of ...

.Staff report (April 7, 1986). Raymond Lapin, 67, Dies; Set Trends in Mortgages. ''

Los Angeles Times The ''Los Angeles Times'' (abbreviated as ''LA Times'') is a daily newspaper that started publishing in Los Angeles in 1881. Based in the LA-adjacent suburb of El Segundo since 2018, it is the sixth-largest newspaper by circulation in the Un ...

References

1919 births 1986 deaths American investment bankers Chief executive officers in the real estate industry Financial history of the United States Mortgage industry of the United States Real estate company founders Fannie Mae chief executive officers University of California, Berkeley alumni University of Chicago alumni {{US-CEO-stub