MBA New Headquarters Update

MBA (6/6/2008 ) Kempner, Jonathan
Mortgage Bankers Association President and CEO Jonathan Kempner sent out the following letter last week to all MBA members:

Dear MBA Member,
Last year MBA entered into an agreement to purchase a new office building in Washington, D.C. to serve as MBA's headquarters. As we prepare for our transition to the new building, located at 1331 L Street, NW, Washington, DC 20005, I am pleased to share with you some additional details and the anticipated timeline for our move. On Friday, May 16, MBA closed on the purchase of 1331 L Street, with financing provided by PNC Bank leading a syndicate including Wells Fargo, Chevy Chase Bank and Virginia Commerce.

First, I am very proud to inform you that the building has been pre-certified by the U.S. Green Building Council at the LEED (Leadership in Energy and Environmental Design) Gold level for the core and shell and Silver, with a possibility of Gold status, for the interior. Leasing activity for the building is ongoing, with numerous prospects for both the office and retail space.

MBA remains on schedule for a mid-June move. Our offices will close beginning at noon ET on Thursday, June 12 as all technology and equipment will be relocated to the new building. We anticipate that priority systems, including email and web sites, will be back up and running on Friday morning, June 13. If this is the case, MBA staff members who have the capacity to work remotely on Friday will do so as the physical office will be closed. Relocation activities will continue through Sunday, June 15; and the MBA offices will reopen at 8:30 a.m. ET on Monday, June 16 with all operations functioning from the new building. Our telephone and email addresses will remain the same.

We greatly appreciate your patience during this exciting time for us and look forward to being able to better serve your business needs from 1331 L Street.