2019-08-08T13:34:35-05:00 2018-09-30 521855942 TATE AND TRYON 2021 L STREET NW SUITE 400 WASHINGTON DC 20036 990 2017-10-01 361505650 MORTGAGE BANKERS ASSOCIATION MORT 2025572700 1919 M STREET NW NO 5TH FL WASHINGTON DC 20036 LISA J HAYNES CFO 2025572700 2019-08-08 1 DEBORAH G KOSNETT P00290720 2022932200 2019-08-06 216.59.105.130 2019-08-08 13:34:31 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 BF065EC4D347516EACB6EF6B1CA8D3F874D65F1D 2017 2019-02-21 02:37:17Z ROBERT D BROEKSMIT 1919 M STREET NW NO 5TH FL WASHINGTON DC 20036 80870714 0 X WWW.MBA.ORG X 1914 IL MBA'S PRINCIPAL ACTIVITIES ARE INDUSTRY EDUCATION, RESEARCH, AND ADVOCACY. 36 36 169 2000 1044840 0 100000 100000 60373094 62580076 719773 1707102 822454 689376 62015321 65076554 453350 253515 0 0 28530708 32788834 0 0 0 20350022 21344849 49334080 54387198 12681241 10689356 89836136 101788531 32282191 34038976 57553945 67749555 X THE MORTGAGE BANKERS ASSOCIATION (MBA) IS THE NATIONAL ASSOCIATION REPRESENTING THE REAL ESTATE FINANCE INDUSTRY, AN INDUSTRY THAT EMPLOYS MORE THAN 280,000 PEOPLE IN VIRTUALLY EVERY COMMUNITY IN THE COUNTRY. HEADQUARTERED IN WASHINGTON, D.C., MBA INVESTS IN COMMUNITIES ACROSS THE NATION BY ENSURING THE CONTINUED STRENGTH OF THE NATION'S RESIDENTIAL AND COMMERCIAL REAL ESTATE MARKETS; EXPANDING HOMEOWNERSHIP AND EXTENDING ACCESS TO AFFORDABLE HOUSING TO ALL AMERICANS AND SUPPORTING FINANCIAL LITERACY EFFORTS. 0 0 MEETINGS & CONFERENCESMBA'S FISCAL YEAR 2018, ENDING SEPTEMBER 30, 2018, SAW MORE THAN 18,484 INDIVIDUAL ATTENDEES AT 19 CONFERENCES AND MEETINGS THAT PROVIDED ATTENDEES WITH TIMELY INFORMATION ABOUT THE ECONOMY, BUSINESS TRENDS, TECHNOLOGICAL INNOVATION AND LEGISLATIVE AND REGULATORY CHANGES AND PROSPECTS. MBA CONDUCTED A SUCCESSFUL ANNUAL CONVENTION IN OCTOBER 2017 IN DENVER WITH 4,650 ATTENDEES. THE CREF/MULTIFAMILY HOUSING CONVENTION & EXPO WAS HELD IN FEBRUARY 2018 IN SAN DIEGO WITH 3,300 ATTENDEES. SPONSORSHIP AND BOOTH SALES REMAINED STRONG AT THE MBA MEETINGS WITH 504 COMPANIES EXHIBITING THEIR PRODUCTS AND SERVICES.IN ADDITION TO THE LARGE ANNUAL CONVENTION EXPECTED FROM A MAJOR ASSOCIATION, MBA HOSTS 4 ADDITIONAL LARGE CONFERENCES AND EXPOS EACH YEAR AS WELL AS 14 MORE FINELY FOCUSED SPECIAL INTEREST CONFERENCES. THE FIVE LARGE GATHERINGS ARE THE ANNUAL CONVENTION & EXPO, COMMERCIAL REAL ESTATE FINANCE/MULTIFAMILY HOUSING CONVENTION & EXPO, NATIONAL MORTGAGE SERVICING CONFERENCE & EXPO, TECHNOLOGY SOLUTIONS CONFERENCE & EXPO AND NATIONAL SECONDARY MARKET CONFERENCE & EXPO. SPECIALIZED PROGRAMS HELP PARTICIPANTS GAIN KNOWLEDGE AND INFORMATION IN SUCH AREAS AS LEGAL ISSUES AND REGULATORY COMPLIANCE, COMMERCIAL SERVICING, RISK MANAGEMENT, AND ACCOUNTING AND FINANCIAL MANAGEMENT, EACH OF THESE PROGRAMS HAD STRONG ATTENDANCE AND IS AN IMPORTANT PART OF THE MEMBERSHIP VALUE PROPOSITION FOR MEMBER COMPANIES. SEVERAL PROGRAMS QUALIFY IN WHOLE OR IN PART FOR CONTINUING LEGAL EDUCATION CREDIT (CLE), CPE AND OTHER CONTINUING EDUCATION CREDITS. ADVOCACY FOR MEMBERS AND THE INDUSTRYMBA CONTINUES TO BE THE LEADING ADVOCATE FOR THE ENTIRE REAL ESTATE FINANCE INDUSTRY BOTH IN WASHINGTON, DC AND IN STATE CAPITALS. IN 2018, THE ASSOCIATION PROVIDED THOUGHT LEADERSHIP ON A VARIETY OF PUBLIC POLICY ISSUES, INCLUDING PROPOSALS FOR BOTH ADMINISTRATIVE AND LEGISLATIVE GSE REFORM, A WHITE PAPER ON THE ROLE OF INDEPENDENT MORTGAGE BANKS IN THE HOUSING FINANCE MARKET, AND A DETAILED ROADMAP FOR THE CFPB TO COMBAT "REGULATION BY ENFORCEMENT." OUR LEGISLATIVE ACCOMPLISHMENTS INCLUDED PROVIDING TESTIMONY ON CAPITOL HILL BEFORE THE HOUSE FINANCIAL SERVICES AND SENATE BANKING COMMITTEES, ENACTMENT OF SEVERAL INDUSTRY PRIORITIES (BOTH RESIDENTIAL AND COMMERCIAL/MULTIFAMILY) TO MODERNIZE REQUESTS FOR BORROWER DOCUMENTATION AND STREAMLINE TIMELINES FOR FEDERALLY INSURED LOANS, AND EDUCATION AND ADVOCACY ON A WIDE VARIETY OF OTHER REAL ESTATE FINANCE ISSUES. WITH REGARD TO REGULATORY ACHIEVEMENTS, MBA SUBMITTED COMMENT LETTERS AND PROVIDED GUIDANCE AND SUBSTANTIVE RECOMMENDATIONS THROUGHOUT THE YEAR TO REGULATORS, INCLUDING HUD, VA, USDA, TREASURY, CFPB, FHFA, AND THE FEDERAL BANKING AGENCIES. THESE RECOMMENDATIONS COVERED A WIDE-RANGING SET OF MORTGAGE FINANCE ISSUES, INCLUDING ORIGINATION AND SERVICING GUIDELINES, SECONDARY MARKET STRUCTURE, TAX AND ACCOUNTING REQUIREMENTS, CAPITAL REQUIREMENTS, CONSUMER PROTECTION REGULATIONS, AND DATA SECURITY/PRIVACY. THE ASSOCIATION ALSO FILED AMICUS BRIEFS IN NUMEROUS CASES SUPPORTING THE INDUSTRY IN DISPUTES OVER IMPORTANT LEGAL ISSUES. IN THE COMMERCIAL/MULTIFAMILY REAL ESTATE FINANCE SECTOR, MBA'S PUBLIC POLICY ACTIVITIES IN 2018 SUPPORTED OUR MEMBERS' INTERESTS BY FURTHERING THE OBJECTIVE OF FACILITATING LIQUIDITY AND CAPITAL AVAILABILITY FOR THE COMMERCIAL REAL ESTATE FINANCE MARKET. MBA SHARED INFORMATION AND RECOMMENDATIONS WITH THE PUBLIC AND POLICY MAKERS ON A VARIETY OF POLICY ISSUES AFFECTING THE COMMERCIAL/MULTIFAMILY FINANCE INDUSTRY, INCLUDING: TAX REFORM IMPLEMENTATION; BANK CAPITAL STANDARDS; LIFE COMPANY RISK-BASED CAPITAL STANDARDS, HOME MORTGAGE DISCLOSURE ACT REPORTING REQUIREMENTS FOR MULTIFAMILY MORTGAGES; THE IMPLICATIONS OF HOUSING FINANCE REFORM ON MULTIFAMILY FINANCE; FHA ISSUES IMPACTING MULTIFAMILY AND RESIDENTIAL HEALTHCARE FINANCE, FLOOD AND TERRORISM RISK INSURANCE, AND APPRAISAL MATTERS. AT THE STATE LEVEL, WE WORKED WITH NUMEROUS STATE MORTGAGE BANKING ASSOCIATIONS ON A WIDE VARIETY OF HOUSING, LICENSING AND REAL ESTATE FINANCE ISSUES BY PROVIDING DATA AND POLICY ANALYSIS TO SUPPORT THEIR EFFORTS. IN ADDITION, MBA DEVELOPED MODEL LEGISLATION TO PROVIDE THE FRAMEWORK FOR STATES TO PERMIT REMOTE ONLINE NOTARIZATIONS. EDUCATIONMBA EDUCATION PROVIDED TRAINING TO APPROXIMATELY 12,000 REAL ESTATE FINANCE PROFESSIONALS DURING THE FISCAL YEAR ENDING SEPTEMBER 30, 2018. THE TRAINING TO THESE INDIVIDUALS WAS DELIVERED THROUGH ROUGHLY 400 PROGRAM OFFERINGS CONSISTING OF BOTH LIVE AND SELF-PACED COURSES. STUDENT CAN ACCESS TRAINING THROUGH A MIX OF CLASSROOM COURSES AND WORKSHOPS, WEBINARS AND WEBINAR RECORDINGS, RESOURCE GUIDES, CERTIFICATION AND DESIGNATION PROGRAMS, INSTRUCTOR-GUIDED ONLINE COURSES, AND WEB-BASED SELF-STUDY COURSES. THE COURSES COVER BOTH THE SINGLE FAMILY/RESIDENTIAL AND COMMERCIAL/MULTIFAMILY REAL ESTATE FINANCE INDUSTRIES, WITH CONTENT RANGING FROM INTRODUCTORY TO ADVANCED CONCEPTS. THE LARGEST AND MOST TIME INTENSIVE OFFERING IS THE SCHOOL OF MORTGAGE BANKING (SOMB), WHICH INCLUDES THREE DISTINCT FOUR-DAY CLASSROOM COURSES DELIVERED SEVERAL TIMES A YEAR IN CITIES ACROSS THE COUNTRY. IN THIS FISCAL YEAR, THE DEPARTMENT TRAINED 1,209 STUDENT THROUGH 44 SOMB OFFERINGS. IN MAY 2018, MBA EDUCATION ALSO LAUNCHED A NEW CERTIFICATION PROGRAM FOR SINGLE FAMILY COMPLIANCE PROFESSIONALS, CALLED THE CERTIFIED MORTGAGE COMPLIANCE PROFESSIONAL (CMCP) DESIGNATION PROGRAM. 0 1 1 1 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 140 0 1 169 1 1 1 0 0 0 1 1 0 X 36 36 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X LISA J HAYNES 2025572835 1919 M STREET NW NO 5TH FL WASHINGTON DC 20036 J DAVID MOTLEY CHAIRMAN 4.00 0.00 X X 6123 0 0 CHRISTOPHER M GEORGE CHAIRMAN-ELECT 7.00 0.00 X X 0 0 0 BRIAN F STOFFERS VICE-CHAIRMAN 4.00 0.00 X X 0 0 0 RODRIGO LOPEZ IMMEDIATE PAST CHAIRMAN 1.00 0.00 X X 7601 0 0 RICK M ARVIELO BOARD MEMBER 0.50 0.00 X 0 0 0 D STEVE BOLAND BOARD MEMBER 0.50 0.00 X 0 0 0 BYRON BOSTON BOARD MEMBER 0.50 0.00 X 0 0 0 TODD CHAMBERLAIN BOARD MEMBER 0.50 0.00 X 0 0 0 JONATHAN M CORR BOARD MEMBER 0.50 0.00 X 0 0 0 WILLIAM M COSGROVE BOARD MEMBER 0.50 0.00 X 0 0 0 PHILIP DEFRONZO BOARD MEMBER 0.50 0.00 X 0 0 0 THOMAS S DENNARD BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL DEVITO BOARD MEMBER 0.50 0.00 X 0 0 0 KRISTY FERCHO BOARD MEMBER 0.50 0.00 X 0 0 0 MARK FISHER BOARD MEMBER 0.50 0.00 X 0 0 0 TARI L FLANNERY BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL HEAGERTY BOARD MEMBER 0.50 0.00 X 0 0 0 MARK A JONES BOARD MEMBER 0.50 0.00 X 0 0 0 CHRISTOPHER LABIANCA BOARD MEMBER 0.50 0.00 X 0 0 0 JAMES MACLEOD BOARD MEMBER 0.50 0.00 X 0 0 0 FRANK D MARTELL BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL MAY BOARD MEMBER 0.50 0.00 X 0 0 0 STANLEY C MIDDLEMAN BOARD MEMBER 0.50 0.00 X 0 0 0 PETER NORDEN BOARD MEMBER 0.50 0.00 X 0 0 0 EDUARDO PEREZ BOARD MEMBER 0.50 0.00 X 0 0 0 KURT PFOTENHAUER BOARD MEMBER 0.50 0.00 X 0 0 0 T ANTHONY PREMER BOARD MEMBER 0.50 0.00 X 0 0 0 ANDREW RIPPERT BOARD MEMBER 0.50 0.00 X 0 0 0 SUSAN STEWART BOARD MEMBER 0.50 0.00 X 0 0 0 DEBRA W STILL BOARD MEMBER 0.50 0.00 X 0 0 0 JEFFREY TAYLOR BOARD MEMBER 0.50 0.00 X 0 0 0 RICHARD G THORNBERRY BOARD MEMBER 0.50 0.00 X 0 0 0 WILLIAM WALKER BOARD MEMBER 0.50 0.00 X 0 0 0 MICHAEL WEINBACH BOARD MEMBER 0.50 0.00 X 0 0 0 THOMAS L WIND BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID ZITTING BOARD MEMBER 0.50 0.00 X 0 0 0 DAVID H STEVENS PRESIDENT & CEO 34.70 0.30 X 5616767 0 41072 HELEN R KANOVSKY SVP & GEN COUNSEL 32.70 2.30 X 379778 0 14850 LISA J HAYNES VP & CFO 27.70 2.30 X 224079 0 28896 MARCIA M DAVIES CHIEF OPERATING OFFICER 34.70 0.30 X 812794 0 39204 WILLIAM P KILLMER SVP, LEGISLATIVE & POLITICAL AFFAIRS 35.00 0.00 X 552932 0 41102 GORDON R MILLS SVP, RESIDENTIAL POLICY & MEMBER SERVICES 35.00 0.00 X 546490 0 38064 STEPHEN O'CONNOR SVP, PUBLIC POLICY & INDUSTRY RELATIONS 35.00 0.00 X 424140 0 41102 THOMAS K KIM SVP, CREF POLICY 34.70 0.30 X 383569 0 43702 MICHAEL C FRATANTONI CHIEF ECONOMIST & SVP OF RESEARCH & INDUSTRY TECHN 32.00 3.00 X 376517 0 42099 PETER GRACE CIO AND SVP, STRATEGY AND MEMBER SERVICES 35.00 0.00 X 366575 0 40992 TRICIA MIGLIAZZO VP, MEMBERSHIP ENGAGEMENT 35.00 0.00 X 349220 0 20260 GENEARLENE NEILL VP, HUMAN RESOURCES 35.00 0.00 X 308032 0 29872 ELAINE HOWARD VP, CONFERENCES 35.00 0.00 X 293140 0 36975 JAMES WOODWELL VP, COMMERCIAL REAL ESTATE 35.00 0.00 X 289138 0 22253 JEFFREY SCHUMMER VP, EDUCATION BUSINESS DEVELOPMENT 35.00 0.00 X 284248 0 35895 11221143 0 516338 71 0 1 0 STRATMOR GROUP LLC PO BOX 19436 BOULDER CO 80308 DATA DRIVEN MORTGAGE ADVISORY 444677 LOCUST STREET GROUP 2008 HILLYER PL NW WASHINGTON DC 20009 CAMPAIGN PLANNING AND EXECUTION 224572 CHARTER OAK SYSTEMS LLC 5 PLANTATION COURT BETHEL CT 06801 INTERACTIVE DECISION CONSULTING 146042 PORTERFIELD FETTIG & SEARS 400 NORTH CAPITOL ST NW STE 363 WASHINGTON DC 20001 GOVT RELATIONS & PUBLIC AFFIARS SERVICES 120000 HOLLAND & KNIGHT PO BOX 864084 ORLANDO FL 328864084 LEGISLATIVE & ADVOCACY CONSULTING 110000 6 100000 100000 ANNUAL CONVENTION AND OTHER PROGR 900099 30450426 30450426 MEMBERSHIP DUES 900099 24392821 24392821 EDUCATIONAL PROGRAMS 900099 4361092 4361092 PERIODICALS & PUBLICATIONS 541800 1913490 868650 1044840 PRODUCT FEES 900099 1303189 1303189 159058 159058 62580076 1239861 1239861 521182 521182 16178405 82996 15711364 82796 467041 200 467241 467241 OTHER REVENUE 900099 168194 168194 168194 65076554 61535236 1044840 2396478 253515 10081184 18235076 1353174 1720545 1398855 104626 79125 123757 205365 2520835 318114 811561 1629670 72644 1892665 1133541 5066002 8336 550225 308365 TAXES 1247 EQUIPMENT RENTAL & MAIN 2303777 PRINTING & PUBLICATIONS 1256608 MEALS AND ENTERTAINMENT 1030534 1927852 54387198 59372128 34659900 359805 509299 3081936 3415099 6746061 3872962 2423138 2873099 23523995 58970209 1075134 1360925 89836136 101788531 4140888 4962728 24736756 25665563 3404547 3410685 32282191 34038976 X 57468742 67656215 85203 93340 57553945 67749555 89836136 101788531 X 10689356 -829620 335874 X X 0 1 X 1 0 MORTGAGE BANKERS ASSOCIATION PAC 1919 M STREET NW WASHINGTON DC 20036 526144335 1299028 0 0 1 24392821 2891494 2146297 5037791 3658923 1378868 PART I-A, LINE 1: MBA'S POLITICAL ACTIVITY FOR THE YEAR ENDED 9/30/18 CONSISTED OF ACTIVITIES CONDUCTED SOLELY THROUGH ITS CONNECTED PAC, THE MORTGAGE BANKERS ASSOCIATION PAC (MORPAC). 2761208 1113973 1647235 2871787 2492906 378881 1113066 266083 846983 2873099 DEFERRED RENT AND LEASE INCENTIVE 3372059 DUE TO AFFILIATES 38626 3410685 64041369 -829620 -829620 64870989 205365 200 205565 65076554 53845759 -336074 -336074 54181833 205365 205365 54387198 PART XI, LINE 4B - OTHER ADJUSTMENTS: GAIN ON DISPOSITION OF FIXED ASSET INCLUDED AS REVENUE FOR AUDIT 200. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAIN ON DISPOSITION OF FIXED ASSET INCLUDED AS REVENUE FOR AUDIT -200. PENSION CHANGES NOT INCLUDED IN PERIODIC PENSION COST -335,874. 0 CHILDREN'S HOSPITAL AND MEDICAL CENTER FOUNDATION 8401 WEST DODGE RD STE 120 OMAHA NE 68114 476105603 501C3 5500 DONATION NF FORWARD 1074 WOODWARD AVENUE DETROIT MI 48226 821672519 501C3 7500 CONTRIBUTION/SPONSORSHIP CAMPAIGN TO END OBESITY 1341 G ST NW 6H FLOOR WASHINGTON DC 20005 260389702 501C4 10000 CONTRIBUTION/SPONSORSHIP MAKE ROOM INC 8401 COLESVILLE RD SUITE 300 SILVER SPRING MD 20910 814676815 501C3 10000 CONTRIBUTION/SPONSORSHIP SHOW ME CAMPAIGN 750 W 7TH STREET BOX 811026 LOS ANGELES CA 90081 461820448 501C3 10000 DONATION JOHNS HOPKINS MEDICAL INSTITUTIONS 3910 KESWICK ROAD SUITE N2100 BALTIMORE MD 21211 520595110 501C3 15000 DONATION THE CMG FOUNDATION 3160 CROW CANYON ROAD SAN RAMON CA 94583 455058060 501C3 32995 DONATION MBA OPENS DOORS FOUNDATION 1919 M ST NW WASHINGTON DC 20036 320355086 501C3 60951 DONATION JAY BON SALLE FOUNDATION 6001 4TH STREET N ARLINGTON VA 22203 300155891 501C3 10000 DONATION 8 1 X X X X 1 1 X X X X 1 1 0 DAVID H STEVENS PRESIDENT & CEO 1586028 0 1842350 0 2188389 0 22920 0 21176 0 5660863 0 0 0 HELEN R KANOVSKY SVP & GEN COUNSEL 322656 0 50000 0 7122 0 14850 0 3024 0 397652 0 0 0 LISA J HAYNES VP & CFO 196854 0 26200 0 1025 0 12206 0 19714 0 255999 0 0 0 MARCIA M DAVIES CHIEF OPERATING OFFICER 560472 0 250000 0 2322 0 22950 0 19278 0 855022 0 0 0 WILLIAM P KILLMER SVP, LEGISLATIVE & POLITICAL AFFAIRS 490520 0 60000 0 2412 0 22950 0 21176 0 597058 0 0 0 GORDON R MILLS SVP, RESIDENTIAL POLICY & MEMBER SER 444078 0 100000 0 2412 0 19913 0 20420 0 586823 0 0 0 STEPHEN O'CONNOR SVP, PUBLIC POLICY & INDUSTRY RELATI 368728 0 53000 0 2412 0 22950 0 21176 0 468266 0 0 0 THOMAS K KIM SVP, CREF POLICY 331728 0 51000 0 841 0 22950 0 23776 0 430295 0 0 0 MICHAEL C FRATANTONI CHIEF ECONOMIST & SVP OF RESEARCH & 325676 0 50000 0 841 0 22950 0 19149 0 418616 0 0 0 PETER GRACE CIO AND SVP, STRATEGY AND MEMBER SER 333734 0 32000 0 841 0 22444 0 21573 0 410592 0 0 0 TRICIA MIGLIAZZO VP, MEMBERSHIP ENGAGEMENT 333750 0 14900 0 570 0 20260 0 0 0 369480 0 0 0 GENEARLENE NEILL VP, HUMAN RESOURCES 269331 0 35000 0 3701 0 22890 0 10006 0 340928 0 0 0 ELAINE HOWARD VP, CONFERENCES 260728 0 30000 0 2412 0 16223 0 23776 0 333139 0 0 0 JAMES WOODWELL VP, COMMERCIAL REAL ESTATE 261800 0 26000 0 1338 0 22253 0 3024 0 314415 0 0 0 JEFFREY SCHUMMER VP, EDUCATION BUSINESS DEVELOPMENT 280732 0 0 0 3516 0 21287 0 15616 0 321151 0 0 0 PART I, LINES 4A-B MBA CREATED A NONQUALIFIED DEFERRED COMPENSATION PLAN ON BEHALF OF DAVID STEVENS, MBA'S PRESIDENT AND CEO. AMOUNTS DUE UNDER THE PLAN ARE SUBJECT TO VARIOUS VESTING SCHEDULES AND PROVISIONS. NO AMOUNT WAS ACCRUED TO THE PLAN FOR THE YEAR ENDED 9/30/18. PART I, LINE 4A: DAVID H. STEVENS: SEVERANCE OF $2,175,000 FORM 990, PART VI, SECTION A, LINE 1 MBA HAS AN EXECUTIVE COMMITTEE THAT IS EMPOWERED TO ACT ON BEHALF OF THE FULL BOARD OF DIRECTORS BETWEEN MEETINGS. THE COMMITTEE DOES NOT HAVE THE AUTHORITY TO ADOPT OFFICIAL POSITIONS ON PUBLIC POLICY MATTERS (UNLESS EXPLICITLY PROVIDED THAT POWER); APPROVE THE ANNUAL BUDGET; DETERMINE MEMBER DUES; APPOINT OR REMOVE THE PRESIDENT AND CEO; FILL BOARD AND EXECUTIVE COMMITTEE VACANCIES; ADOPT BYLAWS AMMENDMENTS; APPROVE ORGANIZATIONAL CONSOLIDATION OR MERGER; OR ELIMINATE A STANDING COMMITTEE. THE EXECUTIVE COMMITTEE IS COMPOSED OF THE ELECTED OFFICERS AND THE CHAIRS OF COMBOG AND RESBOG, AS WELL AS THE PRESIDENT AND CEO OF THE ASSOCIATION SERVING EX OFFICIO AS NONVOTING MEMBER. FORM 990, PART VI, SECTION A, LINE 6 MBA IS A NONPROFIT MEMBERSHIP CORPORATION. IT HAS THE FOLLOWING CLASSES OF MEMBERSHIP: (A) REGULAR MEMBERS - FINANCIAL INSTITUTIONS AND OTHER ENTITIES THAT ARE REGULARLY IN THE BUSINESS OF ORIGINATING, SERVICING, OR INVESTING IN MORTGAGE LOANS OR OTHERWISE SHARE IN THE RISK OF MORTGAGE LOAN PERFORMANCE, SUCH AS MORTGAGE INSURERS AND TITLE INSURANCE UNDERWRITERS, SHALL BE CONSIDERED REGULAR MEMBERS. (B) ASSOCIATE MEMBERS - BUSINESS ORGANIZATIONS, FINANCIAL INSTITUTIONS, AND INDIVIDUALS THAT REGULARLY PROVIDE SERVICE OR PRODUCTS FOR BUSINESS ORGANIZATIONS OR FINANCIAL INSTITUTIONS ELIGIBLE TO BE REGULAR MEMBERS SHALL BE CONSIDERED ASSOCIATE MEMBERS. (C) ALLIANCE MEMBER - THE BOARD OF DIRECTORS NAMES AS THE SOLE ALLIANCE MEMBER THE MORTGAGE ACTION ALLIANCE, INC., AN AFFILIATE ORGANIZATION THAT OPERATES TO PROMOTE THE COMMON BUSINESS INTERESTS OF THE RESIDENTIAL AND COMMERCIAL REAL ESTATE FINANCE INDUSTRIES THROUGH GRASSROOTS ADVOCACY ACTIVITIES. (D) HONORARY MEMBERS - INDIVIDUALS WHO HAVE SERVED ALL OR PART OF TWO TERMS AS A MEMBER OF ONE OF THE BOARDS OF GOVERNORS, OR WHO HAVE SERVED AS AN OFFICER FOR TWO YEARS, AND WHO HAVE RETIRED FROM ACTIVE BUSINESS SHALL BE CONSIDERED HONORARY MEMBERS. (E) STUDENT MEMBERS - INDIVIDUALS (I) WHO, PRIOR TO EMPLOYMENT IN THE REAL ESTATE FINANCE INDUSTRY, ARE VALIDLY ENROLLED IN A COMMUNITY OR OTHER TWO-YEAR COLLEGE OR OTHER POST-SECONDARY EDUCATIONAL INSTITUTION ("EDUCATIONAL INSTITUTION") AND ALSO VALIDLY ENROLLED IN THE ASSOCIATION'S CURRENT CAREER EDUCATION COURSE, OR OTHER COMPARABLE INSTRUCTIONAL COURSE PROVIDED BY THE ASSOCIATION, OR (II) WHO, PRIOR TO EMPLOYMENT IN THE REAL ESTATE FINANCE INDUSTRY, ARE VALIDLY ENROLLED IN ANY EDUCATIONAL INSTITUTION AFTER COMPLETING THE ASSOCIATION'S CURRENT CAREER EDUCATION COURSE, OR OTHER COMPARABLE INSTRUCTIONAL COURSE PROVIDED BY THE ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 7A UNDER THE ASSOCIATION'S BYLAWS, ONLY REGULAR MEMBERS AND THE ALLIANCE MEMBER MAY ELECT OFFICERS AND THE AT-LARGE MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B REGULAR MEMBERS ARE REQUIRED TO APPROVE A PLAN OF MERGER THAT CALLS FOR THE ASSOCIATION TO MERGE INTO ANOTHER ASSOCIATION OR OTHER ENTITY, OR A PLAN OF MERGER THAT CALLS FOR THE ASSOCIATION TO ABSORB ANOTHER ASSOCIATION OR OTHER ENTITY, AND THE MERGER WOULD RESULT IN (I) A NAME CHANGE FOR THE ASSOCIATION, (II) THE CREATION OF A NEW MEMBERSHIP CLASS, (III) THE ELIMINATION OF A MEMBERSHIP CLASS, OR (IV) A SUBSTANTIAL CHANGE TO THE THEN CURRENT GOVERNANCE SYSTEM. IN ADDITION, REGULAR MEMBERS ARE REQUIRED TO APPROVE A PLAN FOR CONSOLIDATION WHEREBY THE ASSOCIATION WOULD COMBINE WITH ONE OR MORE ASSOCIATIONS TO CREATE A NEW ASSOCIATION AND CEASE TO EXIST AS AN INDEPENDENT ENTITY. FORM 990, PART VI, SECTION B, LINE 11B THE FIVE INDEPENDENT MEMBERS OF THE AUDIT COMMITTEE, WHICH IS A BOARD-LEVEL COMMITTEE, RECEIVED A COPY OF THE FORM 990 BEFORE ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C IT IS MBA'S POLICY THAT NO COVERED PARTY PARTICIPATE IN THE EVALUATION OR APPROVAL BY MBA OF ANY CONTRACTUAL ARRANGEMENT TO WHICH MBA MAY BECOME A PARTY IF THE COVERED PARTY'S PARTICIPATION WOULD CREATE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST. MBA'S CONFLICTS POLICY REQUIRES ANNUAL DISCLOSURE TO THE MBA GENERAL COUNSEL AND SECRETARY OF "CONFLICTS OF INTEREST" DEFINED AS A SITUATION IN WHICH A COVERED PARTY WOULD PARTICIPATE IN THE EVALUATION OR APPROVAL BY MBA OF ANY CONTRACTUAL ARRANGEMENT TO WHICH MBA MAY BECOME A PARTY, IF SUCH INDIVIDUAL, OR SUCH INDIVIDUAL'S EMPLOYER, WOULD OBTAIN MORE THAN AN INSIGNIFICANT FINANCIAL BENEFIT, EITHER DIRECTLY OR INDIRECTLY. "COVERED PARTY" MEANS A MEMBER OF THE MBA BOARD OF DIRECTORS OR A MEMBER OF A BOARD COMMITTEE OR BOARD TASK FORCE THAT MAY BOTH (I) RECOMMEND ENTERING INTO CONTRACTS AND (II) PLAY A ROLE IN VENDOR REVIEW AND SELECTION. MOREOVER, COVERED PARTIES ARE SUPPOSED TO UPDATE THEIR DISCLOSURES AS CIRCUMSTANCES WARRANT AND PROVIDE THEM TO THE MBA GENERAL COUNSEL AND SECRETARY. THE DISINTERESTED MEMBERS OF THE EXECUTIVE COMMITTEE OF THE MBA BOARD OF DIRECTORS SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS OR BEHAVIOR IN CONFLICT WITH THIS POLICY HAS OCCURRED, AND WHAT SUBSEQUENT ACTION IS APPROPRIATE (IF ANY) AND ITS DECISION WILL BE FINAL, EXCEPT AS FOLLOWS. THE EXECUTIVE COMMITTEE SHALL INFORM THE FULL BOARD OF DIRECTORS OF ANY DISAGREEMENT BETWEEN THE EXECUTIVE COMMITTEE AND THE DISCLOSING DIRECTOR AS TO ITS DETERMINATION THAT A CONFLICT OF INTEREST, OR BEHAVIOR IN CONFLICT OF THE POLICY, EXISTS AND ANY RECOMMENDED ACTION. THE BOARD SHALL RETAIN THE RIGHT TO MODIFY OR REVERSE THE EXECUTIVE COMMITTEE'S DETERMINATIONS IN THIS CONTEXT. THE CONFLICTS OF INTEREST POLICY ALSO ADDRESSES CONFIDENTIALITY. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR PRESIDENT AND CEO 1. REVIEW AND APPROVAL. THE COMPENSATION COMMITTEE, ON BEHALF OF THE BOARD, WILL REVIEW AND APPROVE THE COMPENSATION OF MBA'S CHIEF EMPLOYED EXECUTIVE, THE PRESIDENT, PROVIDED THAT INDIVIDUALS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. 'COMPENSATION' MEANS INITIAL SALARY, SPECIAL BENEFITS NOT GENERALLY AVAILABLE TO MBA STAFF, SALARY INCREASES AND BONUSES. 2. USE OF DATA AS TO COMPARABLE COMPENSATION. THE COMPENSATION COMMITTEE WILL REVIEW AND SET THE COMPENSATION OF THE PRESIDENT USING AS REFERENCES POINTS: (I) COMPENSATION OF ANY PREDECESSOR PRESIDENT, AND (II) READILY AVAILABLE PUBLIC DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS (FORMAL BENCHMARKING STUDIES BY OUTSIDE COMPENSATION CONSULTANTS NEED NOT BE COMMISSIONED ANNUALLY BUT MAY BE SOUGHT PERIODICALLY). 3. ASSESSMENT OF PERFORMANCE. THE COMPENSATION COMMITTEE WILL TAKE INTO ACCOUNT: (I) THE LEVEL OF ATTAINMENT OF MBA'S GOALS AND OBJECTIVES OVER THE REVIEW PERIOD, (II) THE NATURE OF THE PARTICULAR EXTERNAL AND INTERNAL CHALLENGES FACING MBA OVER THE REVIEW PERIOD, AND (III) SUCH OTHER CONSIDERATIONS AS MAY BE APPLICABLE UNDER THE PREVAILING CIRCUMSTANCES. 4. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. PROCESS FOR SPECIFIED KEY EMPLOYEES 1. REVIEW AND APPROVAL. THE PRESIDENT WILL SUBMIT RECOMMENDATIONS TO THE COMPENSATION COMMITTEE FOR REVIEW AND APPROVAL OF THE TOTAL COMPENSATION OF THE FOLLOWING SPECIFIED KEY EMPLOYEES, AS DEFINED IN THE INTERNAL REVENUE SERVICE'S FORM 990 INSTRUCTIONS: --THE CHIEF FINANCIAL OFFICER --THE SECRETARY, AS APPROVED BY THE BOARD OF DIRECTORS --ALL SENIOR VICE PRESIDENTS PROVIDED THAT INDIVIDUALS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. 'COMPENSATION' MEANS INITIAL SALARY, SPECIAL BENEFITS NOT GENERALLY AVAILABLE TO MBA STAFF, SALARY INCREASES AND BONUSES. 2. USE OF DATA AS TO COMPARABLE COMPENSATION. THE COMPENSATION COMMITTEE WILL REVIEW AND SET THE COMPENSATION OF THE SPECIFIED KEY EMPLOYEES, BASED ON THE RECOMMENDATIONS OF THE PRESIDENT, WHO WILL USE AS REFERENCES POINTS: (I) READILY AVAILABLE PUBLIC OR OTHER DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS (MBA NEED NOT OBTAIN FORMAL BENCHMARKING STUDIES FROM OUTSIDE COMPENSATION CONSULTANTS ANNUALLY BUT THESE MAY BE SOUGHT PERIODICALLY); AND (II) THE SALARY AND LENGTH OF SERVICE OF THE PREVIOUS INCUMBENT. 3. ASSESSMENT OF PERFORMANCE. THE COMPENSATION COMMITTEE WILL REVIEW FOR SPECIFIED KEY EMPLOYEES THE PRESIDENT'S ASSESSMENT OF -- (I) THE LEVEL OF ATTAINMENT OF MBA'S GOALS AND OBJECTIVES OVER THE REVIEW PERIOD; (II) THE LEVEL OF ATTAINMENT OF A SPECIFIED KEY EMPLOYEE'S INDIVIDUAL GOALS AND OBJECTIVES OVER THE REVIEW PERIOD; (III) THE NATURE OF THE PARTICULAR EXTERNAL AND INTERNAL CHALLENGES FACING MBA OVER THE REVIEW PERIOD; AND (IV) OTHER, DOCUMENTED CONSIDERATIONS THAT MAY BE APPLICABLE UNDER THE PREVAILING CIRCUMSTANCES. 4. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS. PROCESS FOR REMAINING EMPLOYEES FOR THE REMAINING EMPLOYEES, THE BOARD HEREBY APPROVES THE FOLLOWING PROCESS FOR DETERMINING TOTAL COMPENSATION: 1. THE PRESIDENT IS AUTHORIZED AND DIRECTED TO: (A) IMPLEMENT MBA'S PRESENT EMPLOYEE POSITION CLASSIFICATION SYSTEM THAT IDENTIFIES FUNCTIONALLY COMPARABLE POSITIONS ACROSS GROUPS, AND (B) ADMINISTER A COMPENSATION PLAN BASED ON: (I) SUCH CLASSIFICATION SYSTEM, (II) REASONABLY AVAILABLE CURRENT COMPENSATION DATA FROM SIMILARLY SITUATED ASSOCIATIONS, (III) MBA'S GOALS AND OBJECTIVES, AND (IV) SUCH OTHER CRITERIA OR CONSIDERATIONS THAT MAY BE APPLICABLE UNDER THE PREVAILING CIRCUMSTANCES. 2. THE PRESIDENT IS FURTHER AUTHORIZED TO REVISIT THE EMPLOYEE CLASSIFICATION SYSTEM AS WELL AS TO ENGAGE COMPENSATION CONSULTANTS, FROM TIME TO TIME, TO HELP ASSURE THAT THE EMPLOYEE CLASSIFICATION SYSTEM AND THE COMPENSATION DATA AND PLAN REMAIN RELEVANT TO THE ACHIEVEMENT OF MBA'S OVERALL GOALS AND OBJECTIVES. 3. UNDER EXCEPTIONAL CIRCUMSTANCES THAT MUST BE DOCUMENTED AND REPORTED TO THE COMPENSATION COMMITTEE, THE PRESIDENT IS AUTHORIZED TO OFFER SIGNING OR RETENTION BONUSES AND OTHER FORMS OF COMPENSATION TO EMPLOYEES IN ORDER TO HELP ASSURE THE SMOOTH OPERATION OF MBA AND/OR THE ACHIEVEMENT OF SIGNIFICANT MBA GOALS AND OBJECTIVES. FORM 990, PART VI, SECTION C, LINE 19 CHARTER, BYLAWS AND CONFLICTS OF INTEREST POLICY ARE PROVIDED UPON REQUEST. FINANCIAL INFORMATION IS PROVIDED THROUGH THE FORM 990 UPON REQUEST. FINANCIAL STATEMENTS ARE PROVIDED TO THE BOARD OF DIRECTORS AND ARE NOT MADE AVAILABLE PUBLICLY. FORM 990, PART XI, LINE 9: PENSION-RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST 335,874. FORM 990, PART XII, LINE 2C THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PRIOR YEAR. 1331 L STREET LLC (DISREGARDED ENTITY) 1919 M STREET NW 5TH FL WASHINGTON DC 20036 331210397 HOLDS MBA HEADQUARTERS OFFICE BUILDING DE MBA FIRST LLC (DISREGARDED ENTITY) 1919 M STREET NW 5TH FL WASHINGTON DC 20036 PROVIDES SVCS TO ORGANIZATIONS IN THE REAL ESTATE FINANCE INDUSTRY DC MISMO INC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 510502943 DEVELOPING, PROMOTING AND MAINTAINING VOLUNTARY ELECTRONIC COMMERCE STDS DE 501(C)(6) 1 RIHA 1919 M STREET NW 5TH FL WASHINGTON DC 20036 366109824 FURTHERING RESEARCH IN THE FIELD OF MORTGAGE BANKING AND REAL ESTATE FINANCE IL 501(C)(3) 509(A)(3) 1 MORPAC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 526144335 POLITICAL ACTION COMMITTEE DC 527 1 MORTGAGE ACTION ALLIANCE INC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 271893100 SUPPORT COMMON BUSINESS INTERESTS OF REAL ESTATE FINANCE INDUSTRY DE 501(C)(6) 1 MBA OPENS DOORS FOUNDATION 1919 M STREET NW 5TH FL WASHINGTON DC 20036 320355086 PROVIDES RENTAL & MORTGAGE ASSISTANCE TO FAMILIES W/CRITICALLY ILL CHILDREN. DE 501(C)(3) 170(B)(1)(A)(VI) 1 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 1 1 RIHA - SALARY SUPPLEMENT O 30000 CASH-BOOK VALUE RIHA - ACTUAL EXPENDITURES (AUDITTAX FEES) Q 9650 CASH-BOOK VALUE RIHA - GRANT TO MBA'S EDUC DEPT'S PATH TO DIVERSITY SCHOLARSHIP C 100000 CASH-BOOK VALUE MISMO INC - CONTRACTUAL FEE L 565524 CASH-BOOK VALUE MISMO INC - ACTUAL EXPENDITURES Q 173337 CASH-BOOK VALUE MISMO INC - REIMBURSEMENT FOR CREDIT CARD RECEIPTS P 395578 CASH-BOOK VALUE MISMO INC - REIMBURSEMENT FOR BANK INTERESTS R 2414 CASH-BOOK VALUE MBA OPENS DOORS FOUNDATION-MBA GUIDE BOOK SALES & CHAIRMAN'S CONF CONTRIB B 69962 CASH-BOOK VALUE MBA OPENS DOORS FOUNDATION-SHARING OF EMPLOYEES O 389591 CASH-BOOK VALUE MBA OPENS DOORS FOUNDATION-REIMBURSEMENT OF EXPENDITURES Q 76388 CASH-BOOK VALUE CONTRIBUTION BY MORPAC ADMIN FUND TO OPENS DOORS FOUNDATION B 10000 CASH-BOOK VALUE