2013-08-12T16:12:06-05:00 2012-09-30 521855942 TATE AND TRYON 2021 L STREET NW SUITE 400 WASHINGTON DC 20036 990 2011-10-01 361505650 MORTGAGE BANKERS ASSOCIATION MORT 2025572700 1717 RHODE ISLAND AVENUE NW NO 400 WASHINGTON DC 20036 DAVID H STEVENS 2025572700 2013-08-12 1 DEBORAH G KOSNETT P00290720 2022932200 2011 2016-02-24 21:20:13Z DAVID H STEVENS 1717 RHODE ISLAND AVENUE NW NO 400 WASHINGTON DC 20036 38368191 0 X WWW.MORTGAGEBANKERS.ORG X 1914 IL MBA'S PRINCIPAL ACTIVITIES ARE INDUSTRY EDUCATION, RESEARCH, AND ADVOCACY. 24 21 148 2000 1751634 0 0 0 33519304 37501977 12163 41909 963146 824305 34494613 38368191 0 0 0 0 18937756 20466470 0 0 0 12781000 13585836 31718756 34052306 2775857 4315885 17771177 11885128 35737713 30193626 -17966536 -18308498 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 2012 (FY2012), ENDING SEPTEMBER 30, 2012, SAW MORE THAN 13,200 INDIVIDUAL ATTENDEES AT 15 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 2012 IN CHICAGO WITH 3,191 ATTENDEES. THE CREF/MULTIFAMILY HOUSING CONVENTION & EXPO WAS HELD IN SAN DIEGO WITH 2,309 ATTENDEES. SPONSORSHIP AND BOOTH SALES REMAINED STRONG AT THE MBA MEETINGS WITH 430 COMPANIES EXHIBITING THEIR PRODUCTS AND SERVICES.IN ADDITION TO THE LARGE ANNUAL CONVENTION EXPECTED FROM A MAJOR ASSOCIATION, MBA HOSTS FIVE MAJOR CONFERENCES EACH YEAR AS WELL AS 10 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, NATIONAL TECHNOLOGY IN MORTGAGE BANKING 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, QUALITY ASSURANCE 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 AND OTHER CONTINUING EDUCATION CREDITS. ADVOCACY FOR MEMBERS AND THE INDUSTRYWHILE NOT EXCLUSIVELY, MUCH OF THE WORK THE STAFF OF MBA'S PUBLIC POLICY AND ADVOCACY PROGRAMS ENGAGED ON IN 2012 WAS GEARED TOWARD PREPARING FOR THE FINALIZATION OF DOZENS OF REGULATIONS UNDER THE DODD FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT (DODD-FRANK ACT). MBA MADE SERIOUS EFFORTS TO EFFECT THE OUTCOME OF SEVERAL RULES UNDER THE DODD-FRANK ACT, INCLUDING THE DEFINITION FOR THE QUALIFIED MORTGAGE (QM); THE DEFINITION OF THE QUALIFIED RESIDENTIAL MORTGAGE (QRM); AND THE ESTABLISHMENT OF UNIFORM NATIONAL REQUIREMENTS FOR MORTGAGE SERVICERS. MBA SENT NEARLY 50 LETTERS TO REGULATORY POLICYMAKERS IN 2012. MBA INVOLVED ROUGHLY ONE THOUSAND INDIVIDUALS FROM ACROSS MBA'S RESIDENTIAL MEMBERSHIP TO HELP US DEVELOP AND REFINE OUR ADVOCACY POSITIONS AS WE EDUCATED POLICYMAKERS IN CONGRESS, FEDERAL AGENCIES, CONSUMER GROUPS AND HOUSING-RELATED TRADE ASSOCIATIONS. MBA ALSO BROUGHT IN DOZENS OF REPRESENTATIVES FROM MBA MEMBER COMPANIES TO MEET WITH FEDERAL REGULATORS ON MANY OF OUR TOP POLICY ISSUES, INCLUDING DURING OUR NATIONAL ADVOCACY CONFERENCE. THROUGH THESE EFFORTS, MBA MADE IMPORTANT PROGRESS IN EFFECTING QM, QRM, SERVICING STANDARDS, LICENSING FOR MORTGAGE LOAN OFFICERS, SECONDARY MORTGAGE MARKET REFORM, BASEL III, AND OTHER ISSUES. ON THE LEGISLATIVE FRONT IN 2012, MBA TESTIFIED AND SUBMITTED FIVE STATEMENTS TO CONGRESSIONAL COMMITTEES, AND TRANSMITTED NEARLY 30 LETTERS TO MEMBERS OF CONGRESS. MBA WAS PLEASED TO SECURE A FIVE YEAR EXTENSION ON THE FLOOD INSURANCE LEGISLATION, AND PUSH BACK ON SEVERAL PROPOSALS THAT WOULD RAISE COSTS FOR MORTGAGE CONSUMERS OR CREATE UNNECESSARY REQUIREMENTS FOR OUR INDUSTRY. MBA STAFF AND ITS MEMBERS ALSO WORKED WITH CONGRESS TO APPLY ITS OVERSIGHT POWER ON THE REGULATORY ISSUES DESCRIBED ABOVE. WE ALSO WORKED TO ADVANCE THE CONGRESSIONAL DIALOGUE AND LAY GROUNDWORK FOR FUTURE EFFORTS ON HOUSING FINANCE REFORM PROPOSALS INVOLVING FHA AND THE GSES. MBA'S STATE AND LOCAL ADVOCACY PROGRAM WORKED ON SEVERAL KEY ISSUES AND ASSISTED IN STATE MBAS IN ADVOCACY THIS YEAR. A CONSIDERABLE EFFORT WAS MADE BY MBA TO ADDRESS STATE-REGULATED MORTGAGE LOAN OFFICER (MLO) LICENSING UNDER THE SAFE ACT, WITH EMPHASIS ON A COORDINATED CAMPAIGN WITH STATE MBAS TO SUPPORT THE CONFERENCE OF STATE BANK SUPERVISORS' UNIFORM STATE TEST FOR MLOS. ALSO, OHIO WAS THE FIRST STATE TO ENACT A TRANSITIONAL LICENSING LAW, WHICH IS BASED ON MBA'S DRAFT MODEL LANGUAGE AND WAS SUPPORTED BY MBA IN A LETTER TO LEGISLATORS.DURING 2012, MBA'S POLITICAL ACTION COMMITTEE, MORPAC, RAISED AND RECEIVED CONTRIBUTIONS IN EXCESS OF $727,000 FROM MORE THAN 1,200 INDIVIDUALS. THIS BRINGS THE COMBINED HARD DOLLAR TOTAL FOR THE 2011-2012 FUNDRAISING CYCLE TO $1,247,000 - SURPASSING BOTH THE GOAL FOR THE CYCLE AND SETTING A NEW RECORD FOR THE PAC. DURING 2012, MORE THAN 6,600 COMMUNICATIONS WERE SENT BY MORTGAGE ACTION ALLIANCE (MAA) MEMBERS TO THEIR ELECTED OFFICIALS AND REGULATORS. OF THE SEVENTEEN "CALLS TO ACTION" EMAILS MBA PROMPTED MAA MEMBERS TO ACT UPON, EIGHT WERE TARGETED AT THE STATE LEVEL, THREE WERE DIRECTED TO REGULATORS AND SIX WERE FOCUSED ON THE FEDERAL LEVEL.MORE THAN 4,226 INDUSTRY PROFESSIONALS RENEWED THEIR MEMBERSHIP OR JOINED MAA IN 2012. THESE ACTIVE MEMBERS ALSO SUPPORTED MORPAC BY CONTRIBUTING MORE THAN $15,833 IN RESPONSE TO LOW-DONOR APPEALS. RESEARCH AND ANALYSISOUTSIDE ANALYSTS, COMMENTATORS, LAWMAKERS AND, OF COURSE, OUR MEMBERS HAVE ALL COME TO DEPEND ON MBA REPORTS AND FORECASTS AS ACCURATE AND INDEPENDENT REPRESENTATIONS OF WHAT IS GOING ON IN THE REAL ESTATE FINANCE INDUSTRY AND IN OUR ECONOMY AS A WHOLE. EACH MONTH, MBA'S MORTGAGE FINANCE FORECAST AND ECONOMIC FORECAST ARE READ WITH INTEREST AND WIDELY CITED BY ANALYSTS AND THE PRESS. NO LESS ANTICIPATED ARE MBAS WEEKLY MORTGAGE APPLICATIONS SURVEY AND ITS QUARTERLY NATIONAL DELINQUENCY SURVEY, WHILE THE LATEST TRENDS AND ANALYSIS ON THE COMMERCIAL/MULTIFAMILY FRONT ARE COVERED IN THE COMMERCIAL REAL ESTATE/MULTIFAMILY FINANCE QUARTERLY DATABOOK AND EIGHT OTHER SPECIALIZED QUARTERLY AND ANNUAL REPORTS. IN ADDITION, MBA'S RESPECTED BENCHMARKING TEAM CONDUCTS THE QUARTERLY AND ANNUAL MORTGAGE BANKERS PERFORMANCE REPORT FOR NON-DEPOSITORY INSTITUTIONS, TARGETING INDEPENDENT MORTGAGE COMPANIES AND BANK SUBSIDIARIES WHO GENERALLY ORIGINATE $1 BILLION OR LESS ANNUALLY, ALONG WITH SEVERAL OTHER VALUABLE BENCHMARKING STUDIES. CAMPUSMBACAMPUSMBA CONTINUES TO OFFER EDUCATIONAL PROGRAMMING TO INDUSTRY PROFESSIONALS, AND OUR DESIGNATIONS AND CERTIFICATIONS CONTINUE TO GROW.IN FY2012, CAMPUSMBA OFFERED 58 UNIQUE WEBINARS ON TIMELY TOPICS INCLUDING FHA LENDING, LOSS MITIGATION, REGULATORY REFORM AND MORTGAGE ACCOUNTING. CAMPUSMBA RECEIVED MORE THAN 3,700 REGISTRATIONS FOR THESE ONLINE EVENTS.DURING THIS PERIOD, CAMPUSMBA ENROLLED MORE THAN 500 STUDENTS IN ONE OF THE THREE LEVELS OF THE SCHOOL OF MORTGAGE BANKING PROGRAM AND MORE THAN 750 STUDENTS IN ADDITIONAL CLASSROOM COURSES, INCLUDING THE SCHOOL OF MORTGAGE SERVICING, THE MULTIFAMILY PROPERTY INSPECTIONS WORKSHOP, AND SAFE ACT TRAINING.CAMPUSMBA ALSO OFFERED A NUMBER OF INSTRUCTOR-GUIDED ONLINE COURSES IN FY2012, INCLUDING THE DEFAULT SERVICING SERIES, WHICH COLLECTIVELY TRAINED OVER WELL 300 STUDENTS ON TOPICS AS SINGLE POINT OF CONTACT, COLLECTIONS, LOSS MITIGATION, AND REO AND PROPERTY PRESERVATION.CAMPUSMBA ADDED NEARLY 30 NEW CERTIFIED MORTGAGE BANKERS (CMBS) TO THE EXISTING ELITE GROUP OF CLOSE TO 1,180 DURING FY2012. IN ADDITION, NEARLY 150 INDIVIDUALS COMPLETED OTHER ACHIEVEMENT, PROFESSIONAL OR SPECIALIST DESIGNATION PROGRAMS. COMMUNICATING WITH AND FOR OUR MEMBERSDURING FY 2012, MBA'S ONLINE DAILY NEWSPAPER, MBA NEWSLINK, AVERAGED 45,000 IN CIRCULATION DAILY. MBA COMMERCIAL/MULTIFAMILY NEWSLINK, A WEEKLY FOCUSING ON THE COMMERCIAL/MULTIFAMILY MARKET, AVERAGED 21,200 IN CIRCULATION. MBA'S NEWEST WEEKLY ELECTRONIC NEWSPAPER, MBA SERVICING NEWSLINK, LAUNCHED IN LATE 2011, REACHED JUST UNDER 45,000 IN CIRCULATION.MORTGAGE BANKING MAGAZINE HAD A CIRCULATION OF 11,563 DURING FY2012. MORTGAGE BANKING MAGAZINE'S DIGITAL EDITION REACHES THOUSANDS OF SUBSCRIBERS MONTHLY WHO CAN ENJOY THE BENEFITS OF ENHANCED DIGITAL CAPABILITIES AND A MORE INTERACTIVE EXPERIENCE FOR SUBSCRIBERS.MORTGAGEBANKERS.ORG CONTINUES TO BE A VALUABLE SOURCE OF NEWS AND INFORMATION FOR OUR MEMBERS AND INDUSTRY PROFESSIONALS.HOMELOANLEARNINGCENTER.COM IS MBA'S CONSUMER FINANCIAL LITERACY WEBSITE AND PROVIDES CONSUMERS WITH INFORMATION ON THE LOAN MORTGAGE PROCESS, VARIOUS LOAN PRODUCTS, LOAN MODIFICATIONS AND GOVERNMENT PROGRAMS AIMED AT HELPING BORROWERS.MBA STAFF AND EXECUTIVES ARE REGULARLY QUOTED IN NATIONAL, STATE, LOCAL AND TRADE MEDIA OUTLETS (PRINT, ONLINE AND BROADCAST) REPRESENTING ITS MEMBER'S INTERESTS AND PROVIDING INSIGHT INTO THE REAL ESTATE FINANCE MARKETS. COMMERCIAL/MULTIFAMILYACTING AS THE VOICE FOR THE COMMERCIAL REAL ESTATE/MULTIFAMILY HOUSING FINANCE INDUSTRY, IN 2012 MBA ADVOCATED STRONGLY FOR THE FOLLOWING: - AN INDUSTRY REPLACEMENT TO THE MORTGAGE EXPERIENCE ADJUSTMENT FACTOR (MEAF) - A COMPONENT OF LIFE COMPANIES' RISK-BASED CAPITAL (RBC) CHARGES THAT WOULD FACILITATE MORE COMPETITIVE PRICING BY MORE ACCURATELY REFLECTING RISK ON A LOAN LEVEL BASIS- AUTHORED AND RELEASED A COMPREHENSIVE WHITE PAPER ENTITLED, ENSURING LIQUIDITY AND STABILITY: THE FUTURE OF MULTIFAMILY HOUSING FINANCE AND THE GOVERNMENT SPONSORED ENTERPRISES, SERVING AS THE FOUNDATION FOR MULTIFAMILY HOUSING FINANCE POLICY- SECURED A FIVE-YEAR EXTENSION OF THE NATIONAL FLOOD INSURANCE PROGRAM (NFIP)- FILED A U.S. SUPREME COURT AMICUS BRIEF SUPPORTING LENDERS' ABILITY TO CREDIT BID ON THEIR COLLATERAL IN A CHAPTER 11 BANKRUPTCY PROCEEDING, UNANIMOUSLY SUPPORTED BY THE COURT IN ITS MAY 2012 DECISION- OBTAINED HIGHLY FAVORABLE HUD GUIDANCE ON THE NATIONAL LOAN COMMITTEE REQUIREMENTS APPLICABLE TO FHA MULTIFAMILY INSURANCE PROGRAMS, RESULTING IN EXPEDITED APPLICATION PROCESSING TIMES- LED INDUSTRY EFFORTS TO RETAIN LENDERS' RIGHTS TO EVIDENCE OF PROPERTY AND CASUALTY INSURANCE, TESTIFYING BEFORE THE NATIONAL CONFERENCE OF INSURANCE LEGISLATORS AND ADDRESSING ACTIONS IN 13 STATES- JOINED A COALITION TO INSURE AGAINST TERRORISM (CIAT) TO ADVOCATE FOR EXTENSION OF THE TERRORISM RISK INSURANCE ACT, DUE TO EXPIRE IN 2014 - SPEARHEADED COALITION EFFORTS BEFORE SENIOR REGULATORS AND CONGRESS, OPPOSING THE PREMIUM CAPTURE CASH RESERVE ACCOUNT (PCCRA), THAT WOULD STIFLE THE CMBS MARKETS REVITALIZATION - ANNOUNCED THE NEW FHA MULTIFAMILY UNDERWRITING TRAINING PROGRAM, PROVIDING A COMPREHENSIVE RESOURCE FOR FHA MAP LENDERS TO TRAIN UNDERWRITERS FOR FHA MULTIFAMILY PROGRAMS- ANNOUNCED THE NEW COMMERCIAL CERTIFIED MORTGAGE SERVICER DESIGNATION PROGRAM, THE TOPFLIGHT DESIGNATION IN THE COMMERCIAL REAL ESTATE LOAN SERVICING ARENA- PUBLISHED WHITE PAPERS ON BLANKET INSURANCE AND A PRIMARY SERVICER'S CMBS NEGOTIATION GUIDE- PROMOTED SENIOR EXECUTIVE PEER-TO-PEER IDEA EXCHANGE, HOSTING 10 EXECUTIVE ROUNDTABLES AND A NEXTGEN LIFE COMPANY MEETING TO FOSTER NEW INDUSTRY LEADERSHIP 0 0 1 1 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 113 0 1 148 1 1 1 0 0 0 1 1 0 X 24 21 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X MARGARET COLON 2025572893 1717 RHODE ISLAND AVENUE NW NO 400 WASHINGTON DC 20036 MICHAEL W YOUNG 4.00 X X 12352 0 0 DEBRA W STILL CMB 7.00 X X 3931 0 0 E J BURKE 4.00 X X 0 0 0 MICHAEL D BERMAN CMB 1.00 X X 19235 0 0 GARY ACOSTA 0.50 X 0 0 0 GARRY CIPPONERI 0.50 X 0 0 0 BILL COSGROVE CMB 0.50 X 0 0 0 HENRY V CUNNINGHAM JR CMB 0.50 X 0 0 0 TARI L FLANNERY CMB 0.50 X 0 0 0 JACK KONYK 0.50 X 0 0 0 DAVID J MOTLEY 0.50 X 0 0 0 ED PADILLA CMB 0.50 X 0 0 0 JOSEPH R REPPERT 0.50 X 0 0 0 BRIAN F STOFFERS CMB 0.50 X 0 0 0 G TODD WHITE CMB 0.50 X 0 0 0 DAN ARRIGIONI 0.50 X 0 0 0 DALE DYKEMA 0.50 X 0 0 0 ROBERT GAITHER 0.50 X 0 0 0 ELLIOT JACOBS 0.50 X 0 0 0 JANINE STALLINGS 0.50 X 0 0 0 ROBERT STOUT 0.50 X 0 0 0 MARK H WILSMANN 0.50 X 0 0 0 DAVID STEVENS 35.00 X 663379 0 13392 ANGELA LAZEAR 35.00 X 256514 0 28634 PHYLLIS SLESINGER 35.00 X 264715 0 22830 STEPHEN O'CONNOR 35.00 X 373934 0 26190 EMILE J BRINKMANN 35.00 X 274957 0 25584 BARBARA VAN ALLEN 35.00 X 240794 0 23084 PAUL GREEN 35.00 X 390494 0 15770 GAIL DAVIS-CARDWELL 35.00 X 267970 0 9800 WILLIAM KILLMER 35.00 X 457311 0 20084 MICHAEL FRATANTONI 35.00 X 198113 0 20310 GENEARLENE NEILL 35.00 X 215051 0 23470 JAMES WOODWELL 35.00 X 214125 0 18582 JAMES GROSS 35.00 X 209932 0 10884 SARAH DEMAREST 35.00 X 198845 0 20766 KEN MARKISON 35.00 X 195559 0 21052 JOHN COURSON 35.00 X 816677 0 3204 5273888 0 303636 41 1 1 0 MORGAN LEWIS & BOCKIUS LLP 101 PARK AVE NEW YORK NY 101780060 LEGAL SERVICES 230000 HMS PROMOTIONS PO BOX 44298 FORT WASHINGTON MD 20749 PRINTING/PROMOTION 215052 STRATMOR GROUP LLC 6000 SHAKERAG HILL SUITE 300 PEACHTREE CITY GA 30269 BENCHMARKING SERVICE 162146 SARAH HOLLANDER 1102 TUCKAHOE LANE ALEXANDRIA VA 22302 GRAPHIC DESIGN SERVICES 147469 MARGARET COLON 18 GREY PEBBLE CT DARNESTOWN MD 20874 CONSULTING SERVICES 144055 9 MEMBERSHIP DUES 900099 14099303 14099303 OTHER CONFERENCES AND 900099 12299251 12299251 ANNUAL CONVENTION 900099 5241770 5241770 EDUCATIONAL PROGRAMS 900099 2804463 2804463 PERIODICALS & PUBLICAT 541800 2314109 562475 1751634 743081 743081 37501977 35664 35664 640732 640732 2085 4160 0 0 2085 4160 6245 6245 OTHER REVENUE 900099 183573 183573 183573 38368191 35750343 1751634 866214 4429572 12880735 1670627 553647 931889 202764 67530 43648 1870888 56549 1859700 193824 91351 1797407 744171 2655311 46790 213895 293303 EQUIPMENT RENTAL & MAIN 1058009 LOSS ON OPERATING LEASE 638496 CREDIT CARD FEES 464154 MEALS AND ENTERTAINMENT 361827 926219 34052306 1625231 2044821 479955 463953 2520648 2273962 4542988 3951078 707489 591910 10338717 4386023 1200490 1223091 898647 901368 17771177 11885128 1705762 2538118 13910613 13104137 7605361 0 12515977 14551371 35737713 30193626 X -17966536 -18308498 -17966536 -18308498 17771177 11885128 X 4315885 -4657847 X X 0 1 1 X 0 MORTGAGE BANKERS ASSOCIATION PAC 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 526144335 519798 0 0 1 14099303 2687719 -2788854 -101135 2114895 -2216030 ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: PART I-A, LINE 1: CONTRIBUTIONS TO POLITICAL ACTION COMMITTEES. 426312 199556 226756 3624928 3294905 330023 491748 456617 35131 591910 INVESTMENT IN PVT INDUSTRY UTILITY CO 1000000 C INVESTMENTS IN MISMO, SISAC AND LTC 223091 C 1223091 OTHER ASSETS 54369 ESCROW ACCOUNTS 846999 901368 LIABILITY FOR PENSION BENEFITS 12494689 DEFERRED COMPENSATION AND POST EMPLOYMENT BENEFITS 166299 DEFERRED RENT AND LEASE INCENTIVE 1890383 14551371 38368191 34052306 4315885 12483 -4670330 -4657847 -341962 38565780 12483 185106 197589 38368191 0 38368191 38907742 4855436 4855436 34052306 0 34052306 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ASSOCIATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR INCOME TAX POSITIONS TAKEN. THEREFORE, MANAGEMENT HAS NOT IDENTIFIED ANY UNCERTAIN INCOME TAX POSITIONS. AT A MINIMUM, THE FISCAL YEARS 2009 THROUGH 2012 REMAIN OPEN FOR EXAMINATION BY TAXING AUTHORITIES. PART XI, LINE 8 - OTHER ADJUSTMENTS: PENSION-RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST -2,725,275. EQUITY IN INCOME OF SUBSIDIARIES 19,602. OPERATING LEASE FAIR VALUE ADJUSTMENT 165,504. NOTE PAYABLE FAIR VALUE ADJUSTMENT -2,130,161. TOTAL TO SCHEDULE D, PART XI, LINE 8: -4,670,330. PART XII, LINE 2D - OTHER ADJUSTMENTS: EQUITY IN INCOME OF SUBSIDIARIES 19,602. OPERATING LEASE FAIR VALUE ADJUSTMENT 165,504. PART XIII, LINE 2D - OTHER ADJUSTMENTS: PENSION CHANGES NOT INCLUDED IN PERIODIC PENSION COST 2,725,275. BUILDING AND MORTGAGE LOAN FAIR VALUE ADJUSTMENT 2,130,161. X X X X 1 1 X X X X 1 1 0 DAVID STEVENS 662211 0 0 0 1168 0 4900 0 12260 0 680539 0 0 0 ANGELA LAZEAR 254191 0 0 0 2323 0 14700 0 18398 0 289612 0 0 0 PHYLLIS SLESINGER 260940 0 0 0 3775 0 14088 0 13402 0 292205 0 0 0 STEPHEN O'CONNOR 329100 0 0 0 44834 0 14088 0 18168 0 406190 0 0 0 EMILE J BRINKMANN 270697 0 0 0 4260 0 14700 0 16949 0 306606 0 0 0 BARBARA VAN ALLEN 237991 0 0 0 2803 0 7350 0 24096 0 272240 0 0 0 PAUL GREEN 193440 0 0 0 197054 0 7963 0 11115 0 409572 0 0 0 GAIL DAVIS-CARDWELL 265155 0 0 0 2815 0 9800 0 6040 0 283810 0 0 0 WILLIAM KILLMER 455583 0 0 0 1728 0 7350 0 18800 0 483461 0 0 0 MICHAEL FRATANTONI 197629 0 0 0 484 0 6288 0 23233 0 227634 0 0 0 GENEARLENE NEILL 211607 0 0 0 3444 0 12391 0 16671 0 244113 0 0 0 JAMES WOODWELL 212959 0 0 0 1166 0 12840 0 11319 0 238284 0 0 0 JAMES GROSS 206497 0 0 0 3435 0 0 0 16482 0 226414 0 0 0 SARAH DEMAREST 196515 0 0 0 2330 0 9126 0 17097 0 225068 0 0 0 KEN MARKISON 192219 0 0 0 3340 0 11213 0 15212 0 221984 0 0 0 JOHN COURSON 289210 0 0 0 527467 0 2756 0 2201 0 821634 0 0 0 PART I, LINES 4A-B JOHN COURSON, SEVERANCE, $437,500 STEPHEN O'CONNOR, 457F PLAN DISTRIBUTION, $43,209 PAUL GREEN, 457F PLAN DISTRIBUTION, $36,240 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 MEMBERS. [COMBOG IS THE COMMERCIAL REAL ESTATE/MULTIFAMILY FINANCE BOARD OF GOVERNORS. RESBOG IS THE RESIDENTIAL/SINGLE-FAMILY BOARD OF GOVERNORS.] FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE ADJUSTED IN AUGUST 2012 TO INCREASE THE NUMBER OF VOTING DIRECTORS TO 23 FOR A TOTAL OF 24 DIRECTORS, INCLUDING THE PRESIDENT & CEO WHO SERVES EX OFFICIO IN A NON-VOTING CAPACITY. THE BYLAWS WERE FURTHER AMENDED TO ELIMINATE CERTAIN STRICT BUCKETS FOR THE SELECTION OF AT-LARGE DIRECTORS SELECTED BY THE CHAIRMAN-ELECT IN CONSULTATION WITH THE NOMINATING COMMITTEE. INSTEAD, THE BYLAWS IMPOSE A MANDATE FOR BALANCE AMONG RESIDENTIAL AND COMMERCIAL AND MULTIFAMILY MEMBERS, AMONG LARGE AND SMALL MEMBERS AND AMONG MEMBERS OF DIFFERENT KINDS OF OWNERSHIP STRUCTURES AND CHARTERS. 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, 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. 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 BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B REGULAR MEMBERS ARE REQUIRED TO APPROVE A PLAN OF MERGER CALLS FOR THE ASSOCIATION TO MERGE INTO ANOTHER ASSOCIATION OR OTHER ENTITY, OR A PLAN OF MERGER CALLS FOR THE ASSOCIATION TO ABSORB ANOTHER ASSOCIATION OR OTHER ENTITY, BUT 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 11 THE FIVE INDEPENDENT MEMBERS OF THE AUDIT COMMITTEE, WHICH IS A BOARD-LEVEL COMMITTEE, REVIEWED THE FORM 990 BEFORE ITS FILING. THE MBA BOARD HAD THE OPPORTUNITY TO REQUEST A COPY OF THE DRAFT FOR REVIEW BEFORE IT WAS FILED. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 12,483. PENSION-RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST -2,725,275. EQUITY IN INCOME OF SUBSIDIARIES 19,602. OPERATING LEASE FAIR VALUE ADJUSTMENT 165,504. NOTE PAYABLE FAIR VALUE ADJUSTMENT -2,130,161. TOTAL TO FORM 990, PART XI, LINE 5: -4,657,847. FORM 990, PART XII, LINE 2C THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PRIOR YEAR. 1331 L STREET LLC (DISREGARDED ENTITY) 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 331210397 HOLDS MBA HEADQUARTERS OFFICE BUILDING DE 0 0 MBA FIRST LLC 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 PROVIDES SVCS TO ORGANIZATIONS IN THE REAL ESTATE FINANCE INDUSTRY DC 0 0 MISMO INC 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 510502943 DEVELOPING, PROMOTING AND MAINTAINING VOLUNTARY ELECTRONIC COMMERCE STDS DE 501(C)(6) 1 RIHA 1717 RHODE ISLAND AVE NW 400 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 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 526144335 POLITICAL ACTION COMMITTEE DC 527 1 MORTGAGE ACTION ALLIANCE INC 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 271893100 SUPPORT COMMON BUSINESS INTERESTS OF REAL ESTATE FINANCE INDUSTRY DE 501(C)(6) 1 MBA OPENS DOORS FOUNDATION 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 320355086 SPONSORS PHILANTHROPIC ACTIVITIES FOCUSED ON HOME OWNERSHIP DE 501(C)(3) 170(B)(1)(A)(VI) 1 LENDER TECHNOLOGIES CORPORATION 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 522233464 ENABLES VALUE-ADDED TECHNOLOGY AND INFORMATION PRODUCTS DC C 45807 143208 1.00000 SISAC INC 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 522413168 OPEN ACCESS AND STANDARDS IN REAL ESTATE FINANCE BUSINESS TRANSACTIONS DE C -827 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1 RIHA N 30000 BOOK VALUE RIHA P 9508 BOOK VALUE MISMO INC K 170000 CONTRACTUAL FEE MISMO INC P 134077 ACTUAL EXPENDITURES MISMO INC R 96732 REIMB FOR CC FEES