The Mortgage Bankers Association (MBA) has announced the election of its new 2011-2012 board at their 98th Annual Convention & Expo in Chicago. Michael W. Young, chairman of the board for Cenlar FSB, will serve as the 2012 Chairman of the association; Debra W. Still, CMB and president and CEO of Pulte Mortgage LLC, was named chairman-elect; and E.J. Burke, EVP and group head, KeyBank Real Estate Finance, was named vice chairman.
As chairman of the MBA, a top item on Young's agenda is ensuring that MBA continues to be the single voice for the real estate finance industry during this time of great change for all those who participate in the financing of real estate transactions.
"Serving our industry as MBA's 2011 Chairman has been one of the great honors of my life," said Michael D. Berman, CMB, who hands the reins of leadership over to Young. "I look forward to working with MBA's members, board of directors and its dedicated staff to ensure the association remains on the forefront of the major issues facing our industry today. I also look forward to continuing to lead MBA's efforts to restructure the GSEs with private capital and a new, clearly defined, but limited government role in guaranteeing mortgage-backed securities."
Young is Chairman of the Board of Cenlar FSB in Ewing, N.J. An active MBA member for more than four decades, he is a former member of the 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.
An active MBA member for more than a decade, Still has served on MBA's Strategic Planning Committee and was Chair of the MBA Forward Task Force, as well as a member of MBA's Loan Origination Task Force, Affordable Housing Committee and the Secondary and Capital Markets Committee. She also recently served as Chair of MBA's Residential Board of Governors (RESBOG) and is a member of the association's Board of Directors. Still has served as Vice Chairman of the MBA since October 2010.
Burke has more than three decades of experience in the mortgage industry. He is the immediate past chair of MBA's Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) and is a member of the association's Board of Directors. He also serves as Chair of the COMBOG Risk Retention Task Force and is a former Chair of the COMBOG Investor Council.
In addition, MBA elected 21 additional board members and one ex-officio member, MBA President and Chief Executive Officer David H. Stevens. Four are MBA Officers, five are from the Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG), five are from the Residential/Single-Family Board of Governors (RESBOG), one is the Chairman of MORPAC, four are members-at-large, three are from MBA associate member firms and one represents State and Local mortgage banker associations.
The new members of MBA's Board of Directors are:
►Daniel Arrigoni of U.S. Bank Home Mortgage
►Dale Dykema of T.D. Service Company
►Robert Gaither of Bank of America Home Loans
►Elliot Jacobs of First Fidelity Capital Markets
►Janine Stallings of Pacific Life Insurance Company
►Robert Stout of Q10 Capital LLC
►Mark Wilsmann of MetLife Inc.
Members remaining on the board of directors include:
►Gary Acosta of Prado Mortgage
►Michael D. Berman, CMB of CWCapital
►E.J. Burke of KeyBank Real Estate Capital
►Garry Cipponeri of Chase
►William Cosgrove, CMB of Union National Mortgage Company
►Henry V. Cunningham Jr., CMB of Cunningham & Company
►Tari L. Flannery, CMB of M&T Realty Capital Corporation
►Debra W. Still, CMB of Pulte Mortgage LLC
►Michael W. Young of Cenlar FSB
►John V. Konyk of Weiner Brodsky Sidman Kider PC
►J. David Motley, CMB of Colonial National Mortgage
►Edward Padilla, CMB of NorthMarq Capital LLC
►Joseph R. Reppert of CoreLogic
►David H. Stevens of the Mortgage Bankers Association (ex-officio member)
►Brian F. Stoffers, CMB of CBRE Capital Markets
►G. Todd White, CMB of Arvest Mortgage Company