Executive Compensation at the Mortgage Bankers Association of America (2022)

The Mortgage Bankers Association (MBA) is a tax-exempt, non profit 501 (c) 6 national trade associate that represents the real estate finance industry.  Based in Washington, DC, the MBA has a reported 2,200 member companies.

There are 39 independent voting members (board members) of the governing body: 28 of the 31 (72%) are male while 11 (28%) are female.

The MBA reported total revenue of $73 million in 2022, most of which came from memberships dues ($32 million), conferences and programs ($25 million), and education/programs/publications ($13 million).

Expenses totaled $62 million with the largest expense reported to be compensation ($36 million)  followed by conferences/conventionstravel ($12 million) and office expenses ($8 million).

179 employees received $36 million in compensation in 2o22, an average of $200,000 each.  However, only 106 employees received more than $100,000 with the 15 most highly compensated reported to be:

• $2,497,887:  Robert D Broeksmit, President and CEO
• $  952,055:  Marcia M Davies, COO
• $  702,828:  Gordon R Mills, SVP, Res Policy and Membership
• $  651,082:  William P Killmer, SVP. Legal and Political Affairs
• $  531,573:  Michael P Flood, SVP, CREF and Multifamily
• $  503,745:  Michael C Fratanoni, Chief Economist, SVP of Research and Industry Tech
• $  498,228:  Peter J Grace, CIO/SVP, Strategy and Membership Services
• $  477,950:  Stephen O’Connor, SVP, Affordable H0using Initiatives
• $  445,874:  Lisa J Haynes, SSVP, CFO, and CDIO
• $  416,332:  Michael W Briggs, SVP and GC
• $  388,130:  Jeffrey Schummer, VP, Education
• $  381,794:  Elaine Howard, VP, Meetings
• $  359,729:  Tricia Migliazzo, VP, Member Engagement
• $  356,314:  John Mechem, VP Public Affairs
• $  351,438:  James Woodwell, VP, Commercial Real Estate Res

The 15 most highly compensated employees received nearly $10 million in compensation in 2022.  11 of the 15  (73%) most highly compensated employees are male while 4 (27%) are female.

The five most highly compensated employees received $18 million from 2017-2022:

Robert D Broeksmit:  Total Compensation 2019-2022:  $5.5 million

• 2022:  $2,497,887
• 2021:  $2,064,539
• 2020:  $1,795,631
• 2019:  $  447,604

Marcia M Davies:  Total Compensation 2017-2022:  $5 million

• 2022:  $  952,055
• 2021:  $  931,335
• 2020:  $1,137,359
• 2019:  $1,438,949
• 2018:  $  855,022
• 2017:  $  688,112

Gordon R Mills:  Total Compensation 2017-2022:  $4 million

• 2022:  $702,828
• 2021:  $682,128
• 2020:  $673,855
• 2019:  $619,489
• 2018:  $586,823
• 2017:  $575,101

William P Killmer:  Total Compensation 2017-2022:  $2.5 million

• 2022:  $651,082
• 2021:  $618,465
• 2020:  $628,805
• 2019:  $616,892
• 2018:  $597,058
• 2017:  $574,668

Michael P Flood:  Total Compensation 2021-2022:  $1 million

• 2022:  $531,573
• 2021:  $467,040

The MBA paid for first class or charter travel, travel for companions, health or social club dues for initiation fees, and provided gross up payments or tax indemnification. For details on these expenses, see the Form 990, Schedule J, Pat III, Supplemental Information.

9 independent contractors received more than $100,000 in compensation with the 5 most highly compensated reported to be:

• $440,385:  Stratmor Group LLC, of Boulder, CO for data driven mortgage info
• $180,000:  Republic Consulting, of Orlando, FL for lobbying and business development
• $150,000:  Thorn Run Partners, of Washington DC for government relations, policy, strategic
• $120,550:  Buckley Sandler LLP, of Washington, DC for financial services, gov’t enforcement
• $120,000:  Porterfield Fettig and Sears, of Washington, DC for gov’t relations and PR

To read the IRS Form 990 (2021 for the year ending September 30, 2022), click here.