Wednesday, September 07, 2005

Williams & Williams: Adds New COO

Williams & Williams, a company that specializes in REO disposition, has hired a former imagineer as its chief operating officer. Pam McKissick comes to the firm from the world of entertainment, having previously worked for TV Guide Networks and The Walt Disney Company.

As COO for Williams & Williams, she'll be responsible for interfacing with lenders. She's only been with the company for a few months, but she has already initiated the spin-off of the firm's Farm, Ranch & Premiere Properties division and built an extensive, in-house IT infrastructure.

McKissick was president and COO of TV Guide Networks, a 56 million household cable network, and vice president of Network Specials and director of Creative Services for Walt Disney World/Epcot Center. She has also been an executive producer in Hollywood.

What's not in the release: McKissick studied business at the Wharton Business School, but she has also studied biochemistry, theater and theology. Add that to her experience in the Magic Kingdom and I wouldn't be surprised if she could do magic, which is exactly what lenders may be looking for in the future.

Historically low interest rates, innovative loan products (like interest-only loans and Option ARMS) and an increased focus on emerging markets has put more people into homes than ever before. That's all good. But if there's a bubble or a downturn or a shift in the wind, lenders are going to want access to someone who can make REO disappear quickly.

Interesting rumor: We hear that Ms. McKissick was also previously a radio broadcaster. We haven't confirmed that yet, but as an emerging multimedia production company that focuses on podcasting, we can't wait to get her on a show.