E.J. Burke, executive vice president and group head for KeyBank Real Estate Capital and Corporate Banking Services, has been sworn in as chairman of the Mortgage Bankers Association (MBA) during the association’s 100th Annual Convention & Expo in Washington, D.C. Burke recently served as chairman of MBA's Commercial Real Estate/Multifamily Finance Board of Governors (COMBOG) and is a member of the association’s board of directors. He serves as chair of the COMBOG Risk Retention Task Force and is a former chair of the COMBOG Investor Council.
Bill Cosgrove, CMB, president and CEO of Union Home Mortgage Company of Strongsville, Ohio was also sworn in, taking the office of chairman-elect of MBA. A longtime and active MBA member, Cosgrove has served as a member of MBA's Board of Directors, on MBA's Legislative Steering Committee and on its Residential Board of Governors (RESBOG) Advisory Committee. During the 2009-2010 election cycle, he served as chairman of MORPAC, the industry's political action committee, raising more than $1 million to bolster MBA's advocacy efforts.
Also sworn in at the association’s 100th Annual Convention was Bill Emerson, chief executive officer of Quicken Loans Inc., as MBA vice chairman.
E.J. Burke has more than three decades of experience in the mortgage industry. Before assuming responsibility for the entire Real Estate Capital line of business, he served as head of real estate capital markets for KeyBank. He also served as managing director for Key's Commercial Mortgage Division. Prior to joining KeyBank, he was president and a founding member of Kansas City-based National Realty Funding LC which was acquired by KeyCorp in 2000.
Prior to co-founding National Realty Funding in 1997, Burke was program director for Midland Commercial Funding, a division of Midland Loan Services LP. Prior to joining Midland in 1993, he held various commercial lending positions in Oklahoma City and Kansas City.
“It is truly an honor to serve as chairman of MBA during its 100th year,” said Burke. “The entire industry is undergoing historic change, and my goal is to ensure that MBA, and its members are aligned, doing the right things to ensure that, as these changes take place, we don’t lose sight of what is best for our customers, and for the larger economy and communities that we serve.”
Bill Cosgrove was the 2011 recipient of MBA’s Burton C. Wood Legislative Service Award, given annually to an MBA member in recognition of his or her sustained superior service to the association and the real-estate finance industry as a whole. He has also served as Chairman of MBA’s GSE Repurchase Request Task Force and was co-chairman of the Loan Originator Qualification Task Force.
After joining what was then Union National Mortgage Company in 1994, Cosgrove was named company president just three years later. He then went on to purchase Union National in 1999. Union Home Mortgage will close over $1.2 billion in lending this year. Cosgrove started his career as a loan officer and has more than 27 years experience as a mortgage banker.
Bill Emerson joined Quicken Loans in 1993 as a mortgage banker. His leadership skills afforded him the opportunity to run several business units as well as lead mortgage operations for the company, where he was responsible for driving performance within Quicken Loans’ businesses. In February of 2002, Emerson was promoted to CEO.
Quicken earned the highest rating for customer satisfaction among all U.S. home loan lenders in a study by J.D. Power & Associates in 2010, 2011 and 2012, and ranked in the Top 10 of Fortune Magazine’s “100 Best Companies to Work For” in 2012, placing among the Top 30 companies on Fortune’s list for the past 10 years. In addition, Quicken Loans has been recognized as one of Computerworld magazine’s “100 Best Places to Work in IT’ the past nine years, ranking number one in 2013, 2007, 2006 and 2005. The company was named the nation’s best employer in Workplace Dynamics 2013 National Top Workplace list, based solely on employee surveys.
Bill is a member of the board of directors of Xenith Inc., a football helmet company dedicated to advancing safety through innovation and education; the Detroit Economic Club; and the Detroit Parade Company. Emerson earned a bachelor’s degree in business from Penn State, where he was a member of the University’s 1982 National Championship football team.
MBA's Board of Directors consists of 24 elected members and one ex-officio member, MBA President and Chief Executive Officer David H. Stevens. MBA Directors represent its commercial/multifamily, residential and associate membership. The Board of Directors sets the strategic direction for MBA and also oversees management of the affairs of the association.
“I am honored to be working alongside these fine men and women who make up MBA’s influential and experienced Board of Directors,” said Burke. “These members will be diligent in their efforts to help create policy for the real estate finance industry in a way that firmly places the best interests of borrowers at the forefront.”
The new members of MBA's Board of Directors are:
►Rick Aneshansel, U.S. Bank Home Mortgage
►Barrett Burns, VantageScore Solutions LLC
►C. William Griffin, Lender Processing Services Inc.
►Jerome Lienhard, SunTrust Mortgage Inc.
►Anand Nallathambi, CoreLogic Inc.
►Kevin Watters, JPMorgan Chase
Members remaining on the Board of Directors are:
►Debra W. Still, CMB, Pulte Mortgage LLC, Immediate Past Chairman
►E.J. Burke, KeyBank Real Estate Capital
►Bill Cosgrove, CMB, Union Home Mortgage Co., Chairman-Elect
►Bill Emerson, Quicken Home Loans, Detroit, Michigan, Vice Chairman
►Brian F. Stoffers, CBRE Capital Markets
►Hugh Frater, Berkadia Commercial Mortgage LLC
►Chris George, CMG Financial
►Michael J. Heid, Wells Fargo Home Mortgage
►R. Paige Hood, Prudential Mortgage Capital Company
►Brian Lancaster, Stern School of Business, New York University
►Rodrigo Lopez, CMB, AmeriSphere Multifamily Finance LLC
►Michael S. Malloy, Bank of America
►William J. McCue, McCue Mortgage Company
►J. David Motley, CMB, Colonial Savings, F.A.
►Kurt Pfotenhauer, First American Title Insurance Company
►Julie Piepho, CMB, Cornerstone Home Lending Inc.
►Robert Stout, Q10 Capital, LLC
►David H. Stevens, Mortgage Bankers Association (ex-officio member)
►William M. Walker, Walker & Dunlop LLC