Transitioning Beyond MBA

This past week the Mortgage Bankers Association (MBA) announced that they had voted on my replacement as CEO and President. Robert (Bob) Broeksmit was an excellent choice to lead this association in the years ahead.

MBA is the powerhouse that our industry needs in order to effectively represent and influence the key policy issues affecting mortgage finance for both commercial and residential lending. While National Mortgage News did a great job in this article ( highlighting the success of these past 7 years, it also showed Bob’s strong background and thoughtful views and reflected the support from leaders he has coming into the job.

Leaving a job you love is hard for anyone, and these past years have been extremely rewarding. To watch this industry come together and align around some really critical issues where we supported good regulation but fought against creating even more confusion in policy making, where we worked closely with administrations on both sides of the aisle, and where we grew our membership and activities will be great memories to reflect on.

Together we fought for a level playing field for all lenders, created the Diversity and Inclusion Committee and its conference, we established the Opens Doors Foundation to provide mortgage and rental payments for families with critically ill children, grew our young professionals program (mPact), created mPower under Marcia Davies leadership, testified in front of congress multiple times, established a new brand for the association, brought us back to fiscal soundness where we are stronger than ever, and so much more. I have spent time with multiple Presidents including, members of congress, and key regulators from both sides of the aisle. Our brand has never been stronger.

The key to all of this success has been the incredible team of dedicated employees of this association that are experts in policy, finance, law, conferences, education, communication, politics, and more. This is the team that makes it happen and they will do the same going forward.

As I leave MBA and move into my future roles where I plan to consult and participate in other things that are less than full time in order for my wife Mary and I, along with our kids and grandchild, to focus on my cancer, health, and enjoy life, I leave excited for Bob.

Everyone is replaceable and all we can hope for is to leave our roles and organizations in better shape than when we arrived. I have known Bob for decades as have so many others in the industry. He will do a great job in this next chapter.

And, while we will likely see each other around Washington at various events and in congressional hallways, I will enjoy seeing MBA in it’s next chapter and will look forward to our industry maintaining its path focusing on responsible lending, rational legislation and rule making, and addressing the critical issues ahead.

My final message to the members of the MBA is this: stay united and committed to this institution. If you pull back due to short term business challenges, you will lesson the power of its collective voice. Your responsibility as a member of this industry is to join together to make sure we maintain our voice and our success through committed and broad participation from everyone.

Thanks for all of your support these past years. Bob starts in this seat on August 20, 2018 – please be there for him as I move into my new post MBA role.