MBA Launches Council on Residential Mortgage Servicing for the 21st Century

WASHINGTON, D.C. – December 9, 2010 – (RealEstateRama) — Michael D. Berman, CMB, Chairman of the Mortgage Bankers Association (MBA) and John A. Courson, MBA’s President and CEO, announced today the MBA has assembled a task force of key MBA members to examine and issue recommendations for the future of residential mortgage servicing. The Council on Residential Mortgage Servicing for the 21st Century will be led by Debra W. Still, CMB, President and Chief Executive Officer of Pulte Mortgage LLC of Englewood, CO and MBA’s Vice Chairman.

“The residential mortgage servicing sector has been operating in a time of unprecedented challenges, presenting us with a unique opportunity to explore potential improvements to business practices, regulations and laws affecting the servicing sector and consumers,” said Berman. “As the national trade association representing the real estate finance industry, we will bring together industry experts to take a comprehensive look at the current state and ongoing evolution of residential mortgage servicing and make recommendations for the future.”

The Council will convene a one-day summit on January 19, 2011, in Washington, DC. Titled, “MBA’s Summit on Residential Mortgage Servicing for the 21st Century,” this meeting will bring together industry leaders, consumer advocates, economists, academics and policymakers who will take a detailed look at the issues that have challenged the industry and identify the essential building blocks for the future of servicing.

In the coming months, residential mortgage servicing will face many more changes in an effort to re-tool the industry for the longer haul said Council Chairman Debra Still. “The Summit will serve as a forum for thoughtful, knowledgeable discussion around how residential mortgage loan servicing should be done in the future.”

Following the summit, the Council will meet on a regular basis to discuss the myriad of issues facing the industry and how the industry can and must change moving forward.

The members of MBA’s Council on Residential Mortgage Servicing for the 21st Century are:

Debra W. Still (Chairman), CMB, Pulte Mortgage, LLC
David Allison, Dovenmuehle Mortgage Inc.
Richard A. Aneshansel, U.S. Bank Home Mortgage
Jon K. Baymiller, New York Community Bank
Joseph Anthony Bonaventura, Jr., CMB, BB&T
Phillip W. Bracken, CMB, Wells Fargo Home Mortgage
Brandon Coleman, CitiMortgage, Inc.
Jordan D. Dorchuck, CMB, American Home Mortgage Servicing
Sterling Edmunds, Jr., CMB, SunTrust Mortgage, Inc.
Ronald M. Faris, Ocwen Financial Corporation
Michael Fontaine, CMB, Plaza Home Mortgage, Inc.
Martin L. Foster, PHH Mortgage
Jonathan M. Gaiser, Bank of the West
Robert Gaither, Bank of America Home Loans
Michael C. Koster, EverHome Mortgage Company
Terry L. McCoy, MetLife Home Loans
Mary Ann McGarry, Guild Mortgage Company
J. David Motley, CMB, Colonial National Mortgage, a Division of Colonial Savings
Scott A. Reed, Midfirst Bank
Matthew I. Roslin, Flagstar Bank, FSB
Glenn Silver, Chase
Jennifer Simons, The PNC Financial Services Group, Inc.
Gregory S. Tornquist, Cenlar, FSB
Kimberly Walsh, Ally Bank
Glenn Weller, Standard Mortgage Corporation

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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., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site: www.mortgagebankers.org.

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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., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

Contact:

Mortgage Bankers Association
1331 L Street, NW
Washington, DC 20005

Phone: (202) 557-2700

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