Washington Post (07/23/08) P. D3; Birnbaum, Jeffrey H.
The president of the Mortgage Bankers Association--one of the most powerful lobby groups in the nation's capital and a key player in the housing bill now winding its way through Congress--has announced plans to step down at the end of the year, following more than seven years at the helm. California Housing Finance Agency Chairman and former MBA chairman John Courson has been tapped to replace Jonathan Kempner and will additionally assume the role of COO, beginning on Aug. 1. A decrease in mortgage originations has triggered a decline in the group's membership, 2008 revenue, and payroll; but MBA Chairman Kieran Quinn, CMB, notes that the association's finances remain in the black. Quinn says Courson is a good choice for president, given that he has been involved with the organization for more than 10 years and has more than 40 years experience in the mortgage industry.
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