2012-08-14T16:00:09-05:00 2011-09-30 TATE AND TRYON 2021 L STREET NW SUITE 400 WASHINGTON DC 20036 990 2010-10-01 361505650 MORTGAGE BANKERS ASSOCIATION MORT 2025572700 1717 RHODE ISLAND AVENUE NW NO 400 WASHINGTON DC 20036 DAVID H STEVENS 2025572700 2012-08-14 1 DEBORAH G KOSNETT 2022932200 2010 2016-02-24 21:20:13Z DAVID H STEVENS 1717 RHODE ISLAND AVENUE NW NO 400 WASHINGTON DC 20036 34490855 0 X WWW.MORTGAGEBANKERS.ORG X 1914 IL MBA'S PRINCIPAL ACTIVITIES ARE INDUSTRY MEETINGS, EDUCATION, RESEARCH, AND ADVOCACY. 21 18 121 2000 1991768 0 0 0 30721443 33519702 -48468568 3092 18014987 963146 267862 34485940 0 0 0 0 14681620 18937756 0 0 0 14024410 12802898 28706030 31740654 -28438168 2745286 14810976 17771177 31233302 35737713 -16422326 -17966536 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 2011 (FY2011), ENDING SEPTEMBER 30, 2011, SAW MORE THAN 13,500 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 2011 IN ATLANTA WITH MORE THAN 3,100 ATTENDEES. THE CREF/MULTIFAMILY HOUSING CONVENTION & EXPO WAS HELD IN SAN DIEGO WITH MORE THAN 2,300 ATTENDEES. SPONSORSHIP AND BOOTH SALES REMAINED STRONG AT THE MBA MEETINGS WITH NEARLY 400 COMPANIES EXHIBITING THEIR PRODUCTS AND SERVICES.IN ADDITION TO THE LARGE ANNUAL CONVENTION EXPECTED FROM A MAJOR ASSOCIATION, MBA HOSTS FOUR 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.IN ADDITION TO TRADITIONAL PROGRAMMING, MBA OFFERS WORKSHOPS THAT FOCUS ON TIMELY TOPICS ON WHICH OUR MEMBERS NEED IMMEDIATE GUIDANCE AND INFORMATION. THEY ARE QUICK TO MARKET AND HAVE BEEN HIGHLY SUCCESSFUL TO DATE. IN FY2011, WE OFFERED TWO WORKSHOPS ATTRACTING A TOTAL OF NEARLY 350 ATTENDEES. ADVOCACY FOR MEMBERS AND THE INDUSTRYMBA POLICY AND LEGISLATIVE STAFF HAVE WORKED THROUGH A DIVIDED CONGRESS, WITH MORE THAN 100 MEMBERS NEW TO THE COMPLEX ISSUES FACING THE REAL ESTATE FINANCE INDUSTRY. IT ALSO BROUGHT ABOUT A FRESH FOCUS ON THE IMPLEMENTATION OF LAST YEAR'S HISTORIC DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT (DODD-FRANK), AND THE LAUNCH OF THAT LAW'S NEWLY-CREATED REGULATOR, THE CONSUMER FINANCIAL PROTECTION BUREAU (CFPB).ON THE LEGISLATIVE FRONT, MBA LEADERSHIP TESTIFIED BEFORE CONGRESS ON BEHALF OF MBA'S MEMBERS NINE TIMES ON A VARIETY OF KEY ISSUES FACING THE INDUSTRY INCLUDING MORTGAGE SERVICING, THE DODD-FRANK ACT, RISK RETENTION AND THE FEDERAL HOUSING ADMINISTRATION (FHA). MBA FOUGHT TO STRENGTHEN THE FHA, WORKING WITH CONGRESS TO PROVIDE IT WITH MORE FUNDS FOR STAFF AND TECHNOLOGY, RAISE THE MULTIFAMILY INSURANCE COMMITMENT AUTHORITY TO $25 BILLION AND EXTEND THE SINGLE-FAMILY LOAN LIMITS FOR AN ADDITIONAL TWO YEARS. OVERALL, MBA RETOOLED ITS ADVOCACY EFFORTS AS POWER SHIFTED FROM CONGRESS AND THE LEGISLATIVE PROCESS TO FEDERAL REGULATORS CHARGED WITH IMPLEMENTING DODD-FRANK'S MYRIAD OF RULEMAKINGS, FROM RISK RETENTION AND ITS QUALIFIED RESIDENTIAL MORTGAGE (QRM) EXEMPTION TO THE ABILITY TO REPAY RULE AND ITS QUALIFIED MORTGAGE (QM) DEFINITION, FROM NEW EFFORTS TO HARMONIZE RESPA AND TILA DISCLOSURES AND CREATE NATIONAL STANDARDS FOR MORTGAGE SERVICING TO PROMOTING SENSIBLE REFORMS FOR FANNIE MAE, FREDDIE MAC AND THE OVERALL SECONDARY MORTGAGE MARKET. IN THE REGULATORY SPACE, MBA MET REGULARLY WITH THE FEDERAL REGULATORS RESPONSIBLE FOR IMPLEMENTING DODD-FRANK DURING 2011. MBA BROUGHT ASSOCIATION MEMBERS TO WASHINGTON, DC TO DISCUSS THE RISK RETENTION AND THE ABILITY TO REPAY RULEMAKINGS AND THEIR VARIOUS ISSUES. MBA HELD BRIEFINGS ON CAPITOL HILL, MET WITH LAWMAKERS, HELD PRESS CONFERENCES AND WORKED WITH A BROAD COALITION OF INDUSTRY GROUPS AND CONSUMER ADVOCATES TO EXPLAIN THE CHILLING EFFECTS THESE RULES WOULD HAVE ON BORROWERS, THE MORTGAGE MARKETS AND OUR NATION'S STRUGGLING ECONOMY.WHILE WORKING WITH THE CFPB ON A HOST OF MORTGAGE-RELATED ISSUES, MBA HAS ALSO CALLED FOR STRUCTURAL CHANGES TO ITS GOVERNANCE. MBA ENDORSED LEGISLATION TO SUBJECT THE CFPB TO THE CONGRESSIONAL BUDGET PROCESS, ALTER ITS LEADERSHIP FROM A SINGLE DIRECTOR TO A BIPARTISAN FIVE-MEMBER COMMISSION, AND STRENGTHEN THE ABILITY OF FEDERAL BANKING REGULATORS TO OVERTURN CFPB RULES THAT WOULD THREATEN SAFETY AND SOUNDNESS.DURING 2011, MORE THAN 5,500 ADVOCACY COMMUNICATIONS WERE SENT BY MBA'S GRASSROOTS NETWORK, THE MORTGAGE ACTION ALLIANCE, INC. (MAA), TO THEIR ELECTED OFFICIALS IN THE AREAS WHERE PARTICIPANTS RESIDE. MAA ALSO SERVED AS A VEHICLE FOR STATE MBA ADVOCACY BY PROVIDING ENHANCED SERVICES ON STATE CALLS TO ACTION AND LOBBY DAYS IN OHIO, FLORIDA, KENTUCKY, WISCONSIN, MICHIGAN AND COLORADO.MORE THAN 4,000 INDUSTRY PROFESSIONALS JOINED MAA OR RENEWED THEIR MEMBERSHIP DURING 2011. THESE ACTIVE MEMBERS ALSO SUPPORTED MORPAC BY CONTRIBUTING MORE THAN $28,000 IN RESPONSE TO LOW-DONOR APPEALS. MBA ALSO CONTINUED TO WORK WITH THE ADMINISTRATION TO TRY TO FIND SOLUTIONS FOR BORROWERS WHO WERE HAVING TROUBLE PAYING THEIR MORTGAGE. AS A FOUNDING MEMBER OF THE HOPE NOW ALLIANCE, MBA AND ITS MEMBERS AND OTHER ALLIANCE PARTNERS HELPED NEARLY 12,000 FAMILIES AT ITS BORROWER OUTREACH EVENTS IN 2011. THE ALLIANCE HELD 15 EVENTS IN 15 CITIES THROUGHOUT THE YEAR, AND THE INDUSTRY PROVIDED 1.05 MILLION MODIFICATIONS TO AT-RISK HOMEOWNERS DURING CALENDAR YEAR 2011. 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, MBAS MORTGAGE FINANCE FORECAST AND ECONOMIC FORECAST ARE READ WITH INTEREST AND WIDELY CITED BY ANALYSTS AND THE PRESS. NO LESS ANTICIPATED ARE MBA'S 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 FY2011, CAMPUSMBA OFFERED MORE THAN 50 UNIQUE WEBINARS ON TIMELY TOPICS INCLUDING FHA LENDING, LOSS MITIGATION, REGULATORY REFORM AND MORTGAGE ACCOUNTING. CAMPUSMBA RECEIVED MORE THAN 2,200 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 550 STUDENTS IN ADDITIONAL CLASSROOM COURSES, INCLUDING MULTIFAMILY INSPECTIONS AND SAFE ACT TRAINING. CAMPUSMBA ADDED NEARLY 30 NEW CERTIFIED MORTGAGE BANKERS (CMBS) TO THE EXISTING ELITE GROUP OF CLOSE TO 1,150 DURING FY2011. IN ADDITION, NEARLY 600 INDIVIDUALS COMPLETED OTHER ACHIEVEMENT, PROFESSIONAL OR SPECIALIST DESIGNATION PROGRAMS.COMMUNICATING WITH AND FOR OUR MEMBERSMBA SPENDS A GREAT DEAL OF EFFORT ON KEEPING MEMBERS APPRISED OF ECONOMIC, REGULATORY, LITIGATION, AND TECHNOLOGY DEVELOPMENTS TO HELP MEMBERS BETTER CONDUCT THEIR BUSINESS. DURING FY2011, MBA'S ONLINE NEWSLETTER, MBA NEWSLINK REACHED A CIRCULATION OF 50,000 WHILE MBA COMMERCIAL/MULTIFAMILY NEWSLINK SUBSCRIPTIONS REACHED 30,000. MORTGAGE BANKING(R) MAGAZINE HAD A CIRCULATION OF 12,000 DURING FY2011. MORTGAGE BANKING MAGAZINE'S DIGITAL EDITION REACHES THOUSANDS OF SUBSCRIBERS MONTHLY WHO 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 MEMBERS' INTERESTS AND PROVIDING INSIGHT INTO THE REAL ESTATE FINANCE MARKETS. COMMERCIAL/MULTIFAMILYACTING AS THE VOICE FOR THE COMMERCIAL REAL ESTATE FINANCE/MULTIFAMILY HOUSING INDUSTRY, IN 2011 MBA SECURED EXTENSION OF THE MORTGAGE EXPERIENCE ADJUSTMENT FACTOR (MEAF) - A COMPONENT OF LIFE COMPANIES' RISK-BASED CAPITAL (RBC) CHARGES UNTIL AN APPROPRIATE INDUSTRY RBC REGIME IS ESTABLISHED; ACHIEVED REINSTATEMENT OF THE NATIONAL ASSOCIATION LIFE INSURANCE COMMISSIONERS' (NAIC) BENEFICIAL RBC APPROACH FOR LIFE COMPANY HOLDINGS OF CREDIT TENANT LOANS; SECURED $25 BILLION IN THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENTS (HUD) COMMITMENT AUTHORITY FOR FY2012, SUPPORTING FHA MULTIFAMILY AND HEALTHCARE PROGRAMS; OBTAINED HIGHLY FAVORABLE HUD GUIDANCE ON THE NATIONAL LOAN COMMITTEE REQUIREMENTS TO STREAMLINE FHA'S REVIEW OF MULTIFAMILY INSURANCE APPLICATIONS; TESTIFIED BEFORE CONGRESSIONAL COMMITTEES ON THE FUTURE OF THE GOVERNMENT SPONSORED ENTERPRISES (GSES), THE ROLE OF FHA AND CMBS RISK RETENTION; SECURED MULTIPLE EXTENSIONS OF THE NATIONAL FLOOD INSURANCE PROGRAM (NFIP) TO ENSURE UNINTERRUPTED PROGRAM AVAILABILITY, WHILE PROMOTING ITS LONG-TERM EXTENSION; AND FILED SUIT AGAINST THE U.S. DEPARTMENT OF LABOR, SEEKING TO SET ASIDE THEIR REVERSAL OF AN OPINION THAT CONCLUDED TYPICAL LOAN OFFICERS WERE EXEMPT FROM OVERTIME PAYMENTS UNDER THE FAIR LABOR STANDARDS ACT ADMINISTRATIVE EXEMPTION. 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 1 0 1 100 0 1 121 1 1 1 0 0 0 1 1 0 X 21 18 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ANGELA LAZEAR 2025572700 1717 RHODE ISLAND AVENUE NW NO 400 WASHINGTON DC 20036 MICHAEL D BERMAN CMB 7.00 X X 19235 0 0 MICHAEL W YOUNG 4.00 X X 12352 0 0 DEBRA W STILL CMB 4.00 X X 3931 0 0 GARY ACOSTA 1.00 X 0 0 0 EDWARD J BURKE 1.00 X 0 0 0 GARRY CIPPONERI 1.00 X 0 0 0 JACK M COHEN CMB 1.00 X 0 0 0 BILL COSGROVE CMB 1.00 X 0 0 0 DANIEL G CROCKETT 1.00 X 0 0 0 HENRY V CUNNINGHAM JR CMB 1.00 X 0 0 0 TARI L FLANNERY CMB 1.00 X 0 0 0 JACK KONYK 1.00 X 0 0 0 WILLIAM J KROCHALIS 1.00 X 0 0 0 RODRIGO LOPEZ CMB 1.00 X 0 0 0 J DAVID MOTLEY CMB 1.00 X 0 0 0 EDWARD PADILLA CMB 1.00 X 0 0 0 JOSEPH R REPPERT 1.00 X 0 0 0 BRIAN F STOFFERS CMB 1.00 X 0 0 0 G TODD WHITE CMB 1.00 X 0 0 0 MARSHA L WILLIAMS ESQ 1.00 X 0 0 0 ROBERT E STORY JR 1.00 X 0 0 0 JOHN COURSON 40.00 X 666291 0 2285 ANGELA LAZEAR 40.00 X 242216 0 16613 PHYLLIS SLESINGER 40.00 X 245127 0 8746 DAVID H STEVENS 40.00 X 0 0 0 STEPHEN O'CONNOR 40.00 X 339694 0 15514 EMILE J BRINKMANN 40.00 X 261984 0 10067 CHERYL CRISPEN 40.00 X 253990 0 7957 PAUL GREEN 40.00 X 346864 0 16313 GAIL DAVIS-CARDWELL 40.00 X 249620 0 3675 WILLIAM KILLMER 40.00 X 218301 0 4933 SARAH T DEMAREST 40.00 X 216801 0 10786 GENEARLENE D NEILL 40.00 X 204276 0 13289 JAMES WOODWELL 40.00 X 192801 0 8328 JAMES GROSS 40.00 X 188697 0 10067 JOSHUA DENNEY 40.00 X 182582 0 13719 3844762 0 142292 49 0 1 0 STRATMOR GROUP LLC 6000 SHAKERAG HILL SUITE 300 PEACHTREE CITY GA 30269 BENCHMARKING SERVICES 146928 MARGARET COLON 18 GREY PEBBLE CT DARNESTOWN MD 20874 CONSULTING SERVICES 144055 SARAH HOLLANDER 1102 TUCKAHOE LANE ALEXANDRIA VA 22302 GRAPHIC DESIGN SERVICES 139783 CAPITOL HILL STATEGIES LLC 1579 FOREST VILLA LN MCLEAN VA 22101 LEGISLATIVE STRATEGY/LOBBYING 125000 BRYAN CAVE 1155 F ST NW WASHINGTON DC 20004 LEGAL SERVICES 103812 5 OTHER CONFERENCES 900099 12104307 12104307 MEMBERSHIP DUES 900099 11254536 11254536 ANNUAL CONVENTION 900099 4947851 4947851 PERIODICALS & PUBLICAT 541800 2513820 522052 1991768 EDUCATIONAL PROGRAMS 900099 1987739 1987739 711449 711449 33519702 8007 8007 548633 548633 0 4915 -4915 -4915 -4915 OTHER REVENUE 900099 414513 414513 414513 34485940 31527934 1991768 966238 2880928 13243008 1369677 585218 858925 329058 71509 32355 1542105 31012 1846767 303625 93660 1769883 691332 2531071 48982 204839 295378 EQUIPMENT RENTAL & MAIN 1074969 MERCHANT CARD FEES 500379 COMMISSIONS 301923 MEALS AND ENTERTAINMENT 244678 MISCELLANEOUS 242725 646648 31740654 1387329 1625231 8738731 10338717 347613 479955 1346390 2520648 4444671 3737182 840155 707489 1186930 1200490 963828 898647 14810976 17771177 2463302 2212100 11032598 13910613 7690000 7605361 10047402 12009639 31233302 35737713 X -16422326 -17966536 -16422326 -17966536 14810976 17771177 X 2745286 -4289496 X X 0 1 1 X 0 20000 20000 1 MORPAC (MORTGAGE BANKERS ASSN PAC) 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 526144335 570697 REPUBLICAN GOVERNORS ASSOCIATION 1747 PENNSYLVANIA AVENUE SUITE 250 WASHINGTON DC 20006 113655877 10000 DEMOCRATIC GOVERNORS ASSOCIATION 1401 K ST NW STE 200 WASHINGTON DC 20005 521304889 10000 0 0 1 11254536 2806173 -3344120 -537947 2250907 -2788854 ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: PART I-A, LINE 1: CONTRIBUTIONS TO POLITICAL ACTION COMMITTEES. 426312 114109 312203 3530740 3182072 348668 487619 441001 46618 707489 INVESTMENT IN PVT INDUSTRY UTILITY CO 1000000 C INVESTMENTS IN MISMO, SISAC AND LTC 200490 C 1200490 OTHER ASSETS 54574 ESCROW ACCOUNTS 844073 898647 LIABILITY FOR PENSION BENEFITS 10041466 DEFERRED COMPENSATION AND POST EMPLOYMENT BENEFITS 102280 ACCRUED LOSS ON OPERATING LEASE 238865 DEFERRED RENT AND LEASE INCENTIVE 1627028 12009639 34485940 31740654 2745286 -4289496 -4289496 -1544210 34504414 18474 18474 34485940 0 34485940 36048624 4333626 4333626 31714998 25656 25656 31740654 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: DURING THE YEAR ENDED SEPTEMBER 30, 2011, MANAGEMENT DID NOT IDENTIFY ANY UNCERTAIN INCOME TAX POSITIONS. AT A MINIMUM, THE SEPTEMBER 30, 2008 THROUGH 2011 TAX YEARS ARE OPEN FOR EXAMINATION BY TAXING AUTHORITIES. PART XI, LINE 8 - OTHER ADJUSTMENTS: PENSION-RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST -3,044,363. EQUITY IN INCOME OF SUBSIDIARIES 13,559. BUILDING AND MORTGAGE LOAN FAIR VALUE ADJUSTMENT -1,202,861. OPERATING LEASE FAIR VALUE ADJUSTMENT -81,487. MBAFIRST LLC EXPENSE 25,656. PART XII, LINE 2D - OTHER ADJUSTMENTS: EQUITY IN INCOME OF SUBSIDIARIES 13,559. LOSS DISPOSAL REPORTED IN PART VIII 4,915. PART XIII, LINE 2D - OTHER ADJUSTMENTS: PENSION CHANGES NOT INCLUDED IN PERIODIC PENSION COST 3,044,363. OPERATING LEASE FAIR VALUE ADJUSTMENT 81,487. BUILDING AND MORTGAGE LOAN FAIR VALUE ADJUSTMENT 1,202,861. LOSS DISPOSAL REPORTED IN PART VIII 4,915. PART XIII, LINE 4B - OTHER ADJUSTMENTS: MBAFIRST LLC EXPENSE 25,656. X X X X 1 1 X X X X 0 1 0 JOHN COURSON 661760 0 0 0 4531 0 1838 0 4105 0 672234 0 0 0 ANGELA LAZEAR 239925 0 0 0 2291 0 3575 0 17408 0 263199 0 0 0 PHYLLIS SLESINGER 241366 0 0 0 3761 0 3424 0 15249 0 263800 0 0 0 STEPHEN O'CONNOR 303831 0 0 0 35863 0 3675 0 17905 0 361274 0 0 0 EMILE J BRINKMANN 255776 0 3675 0 2533 0 0 0 15782 0 277766 0 0 0 CHERYL CRISPEN 190917 0 0 0 63073 0 0 0 11464 0 265454 0 0 0 PAUL GREEN 310906 0 0 0 35958 0 3246 0 19134 0 369244 0 0 0 GAIL DAVIS-CARDWELL 247083 0 0 0 2537 0 3675 0 5962 0 259257 0 0 0 WILLIAM KILLMER 217686 0 0 0 615 0 0 0 7461 0 225762 0 0 0 SARAH T DEMAREST 189802 0 25000 0 1999 0 1829 0 14330 0 232960 0 0 0 GENEARLENE D NEILL 202153 0 0 0 2123 0 3105 0 15685 0 223066 0 0 0 JAMES WOODWELL 192153 0 0 0 648 0 3015 0 10750 0 206566 0 0 0 JAMES GROSS 185776 0 0 0 2921 0 0 0 15386 0 204083 0 0 0 JOSHUA DENNEY 182024 0 0 0 558 0 1880 0 17136 0 201598 0 0 0 PART I, LINE 4B PAUL GREEN, 457F PLAN DISTRIBUTION, $32,130 STEVE O'CONNOR, 457F PLAN DISTRIBUTION, $34,807 CHERYL CRISPEN, 457F PLAN DISTRIBUTION, $45,619 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 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 MEMBERS 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 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: PENSION-RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST -3,044,363. EQUITY IN INCOME OF SUBSIDIARIES 13,559. BUILDING AND MORTGAGE LOAN FAIR VALUE ADJUSTMENT -1,202,861. OPERATING LEASE FAIR VALUE ADJUSTMENT -81,487. MBAFIRST LLC EXPENSE 25,656. TOTAL TO FORM 990, PART XI, LINE 5: -4,289,496. FORM 990, PART XII, LINE 2C THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PRIOR YEAR. 1331 L STREET LLC (DORMANT) 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 331210397 FORMERLY HELD 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) (PENDING) 1 LENDER TECHNOLOGIES CORPORATION 1717 RHODE ISLAND AVE NW 400 WASHINGTON DC 20036 522233464 ENABLES VALUE-ADDED TECHNOLOGY AND INFORMATION PRODUCTS DC C 35202 121900 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 0 1 0 1 0 0 RIHA N 30000 AGREED FEE RIHA P 29962 ACTUAL EXPENSE MISMO INC P 10000 ACTUAL INTERCOMPANY TRANSACTIONS