The Mortgage Bankers Association (MBA) has announced the nomination of Michael W. Young, chairman of the board of Cenlar FSB to be its vice chairman-elect. Young will be elected by MBA members at the Association's 96th Annual Convention, which will be held in October in San Diego, California.
Young's nomination was announced at MBA's President's Conference, which is held each June. An active MBA member for more than four decades, Young is a former member of MBA Board of Directors and currently sits on MBA's Council on Ensuring Mortgage Liquidity, a task force of MBA members created to examine policy options and issue recommendations for the future of the secondary mortgage market. Young has also served on MBA's Residential Board of Governors (RESBOG) and its Strategic Planning Committee.
"With more than forty years of experience in the mortgage banking business, Michael is widely recognized as one of the industry's most thoughtful voices," said MBA Chairman David G. Kittle, CMB. "He is a visionary, and when he speaks, people both inside and outside the industry listen. MBA and the industry as a whole will be well served having Michael in a leadership position as the industry continues to evolve and emerges from the current challenges."
Young started his career in 1962 as Vice President and Investment Officer at Jersey Shore Savings and Loan Association in Toms River, New Jersey. In 1969, he began working for Larson Mortgage Company, where he worked in residential marketing, then managed the company's commercial property division from 1972 to 1976. He was appointed President of Larson Mortgage Company in 1978 and in 1984 he successfully negotiated Larson's acquisition of Centennial Savings and Loan Association, which were reorganized as Cenlar Capital Corporation and Cenlar FSB.
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