Kenneth Pops, a longtime financial advisor to state housing finance authorities, died May 10. He was 70.
When Pops worked on an affordable housing deal, he would always try to cover "just one more project," said Thomas Cary, treasurer of MaineHousing.
The two would talk about how wonderful it would be to get the rates "a little bit lower" and create just 50 or 60 more apartments.
"He truly understood the benefits that a nice home could bring to someone, and he wanted to extend that to everyone across the country," said Benjamin Madorsky, president of cfX, where Pops was a managing director.
Pops often followed through.
"I feel certain that there are hundreds of Maine people who are in nice apartments now or paying less on their first-time homeowner mortgage, because the rate is lower because of Ken Pops and cfX," Cary said.
Pops, of Great Neck, New York, was known for knowledge, mentorship and dedication to his work, his colleagues said. He is survived by his wife and daughter.
Pops began his career at the State of New York Mortgage Agency and rose to the rank of director there.
Howard Zucker, managing partner at Hawkins Delafield and Wood, was the bond counsel for the agency at the time. When he met the "baby-faced" Pops in 1983, he initially mistook him for an intern and asked him to order pizzas.
After Zucker apologized profusely, the two got to know each other. Zucker said he learned that Pops was extremely intelligent and honest.
"I thought that Kenny was by far the most authentic person I knew," Zucker said. "I would describe him as being one of my very best friends."
Pops also brought his honesty and authenticity to his clients, Cary said, which made him an excellent "sounding board."
"He seemed to be comfortable just being Ken Pops," Cary said. "He'd tell you if he didn't agree with you, a very wonderful part of a decision-making group. He gave you the full benefit of his intellect."
Pops moved from New York to be the vice president of finance at the Connecticut Housing Finance Authority, then spent a stint in investment banking at Prudential.
In 1993, he joined cfX, and stayed at the firm for the rest of his career. Madorsky said Pops was a source of institutional knowledge.
"He taught every single person who worked at cfX... He traveled the country to all these different clients he worked with, and would teach them whenever they got new employees," Madorsky said.
"A great deal of our bankers are former cfX people who worked with Ken Pops," Cary said. "I think all the bankers on our account would say that he was really a wonderful mentor and influence."
Pops grew up in the Bronx and lived in New York public housing, Madorsky said. He was passionate about working for his home state and passionate about combating the housing crisis.
"He's also known throughout our part of the industry for being a fierce advocate for his clients," Madorsky said. "He would go to bat for his clients, very strongly, and people really respected that."
Pops' desire to do the right thing extended beyond his professional life, Zucker said. He had a "big heart."
"If somebody was down," Zucker said, "he was always there to try to help people."
Pops' last deal with MaineHousing was in March, Cary said. The mortgages generated by that issuance will save the average recipient $300 per month.
Pops' death came as a shock to Madorsky, he said.
"Even just last week he traveled to Wyoming, and the week before that, to Georgia," Madorsky said.
"The last time I had dinner with him, like a month ago, I asked him if he was ever going to retire, and he said no," Zucker said. "He actually loved what he did."
