|Title: ||MBA's Kempner Announces His Departure|
Washington, D.C. (July 22, 2008) -- Jonathan L. Kempner, President and Chief Executive Officer of the Mortgage Bankers Association, announced today that he will
be stepping down from that role on December 31, 2008. Kempner was hired in March 2001 to lead MBA through a turnaround in
its operations after three especially rough years. Under his leadership, the association doubled its revenues and operating
reserve fund, while scoring a host of policy and advocacy victories. Major strides have been recorded in MBA's various member-focused
departments, including communications, research, conferences, education and technology - in both the realms of residential
and commercial/multifamily real estate finance.
Summing up his more than 7 years at MBA's helm, Kempner observed: "This has been an extremely intellectually stimulating and
rewarding period in my professional life. Navigating the highs and lows of the real estate cycles, with a first rate leadership
and wonderful membership, afforded me a rare opportunity to contribute to one of the most important industries in our society.
I am very proud of the extraordinary staff I have helped assemble at MBA, as my colleagues' dedication, intelligence and expertise
make a true difference in the overall quality of life for many Americans. MBA's mission, I am convinced, will be enhanced
with new leadership, and on a personal level, I very much look forward to a new position of leadership myself after nearly
8 wonderful years at MBA."
Kieran P. Quinn, CMB, MBA's Chairman of the Board of Directors, commended Kempner on his work: "Jonathan has been an exceptional
leader for MBA. He has led a major transformation in our operations, and put in place a first rate staff that is widely acknowledged
to be one of the most effective in the Washington association world. He has poured his heart and soul into MBA with the highest
degree of professionalism, integrity and devotion to our members, and always with a personal warmth and sense of humor. The
entire MBA family will miss him."
Kempner also announced that MBA's leadership will be naming John A. Courson Chief Operating Officer during the transition
period, effective August 1. Courson will become President of MBA on January 1, 2009. "The MBA leadership made an excellent
choice with John Courson taking over the reins," said Kempner. "Few members of the mortgage industry are more respected than
John, as he brings to MBA a wealth of experience, both in terms of business knowledge, and political and advocacy skills."
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.