Executive Compensation at the Mortgage Bankers Association of America (2023)

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 although 40 are listed on the most recent Form 990 (for the year ending September 30, 2023): 30 of the 40 (75%) are male while 10 (25%) are female.

The MBA reported total revenue of $69 million in 2023, most of which came from memberships dues ($27 million), conferences and programs ($26 million), and education/programs/publications ($11 million).

Expenses totaled $65 million with the largest expense reported to be compensation ($37 million)  followed by conferences/conventions/travel ($12 million) and office expenses ($8 million).

186 employees received $37 million in compensation in 2o23, an average of $200,000 each.  However, only 111 employees received more than $100,000 with the 15 most highly compensated reported to be:

• $2,353,,669:  Robert D Broeksmit, President and CEO
• $1,033,695:  Marcia M Davies, COO
• $  718,015:  Gordon R Mills, SVP, Res Policy and Membership
• $  667,957:  William P Killmer, SVP. Legal and Political Affairs
• $  556,203:  Michael P Flood, SVP, CREF and Multifamily
• $  528,015:  Michael C Fratanoni, Chief Economist, SVP of Research and Industry Tech
• $  512,222:  Peter J Grace, CIO/SVP, Strategy and Membership Services
• $  491,406:  Stephen O’Connor, SVP, Affordable H0using Initiatives
• $  471,102:  Lisa J Haynes, SSVP, CFO, and CDIO
• $  433,260:  Michael W Briggs, SVP and GC
• $  389,707:  Elaine Howard, VP, Meetings
• $  366,853:  John Mechem, VP Public Affairs
• $  365,446:  James Woodwell, VP, Commercial Real Estate Res
• $  336,719:  Tamara King, VP of Strategic Industry Engagement
• $  296,200:  Jeffrey Schummer, VP, Education

The 15 most highly compensated employees received nearly $10 million in compensation in 2023.  11 of the 15  (73%) most highly compensated employees are male while 4 (27%) are female.

The 10 most highly compensated employees received $38 million from 2017-2023:

Robert D Broeksmit:  Total Compensation 2019-2023:  $8 million

• 2023:  $2,353,669
• 2022:  $2,497,887
• 2021:  $2,064,539
• 2020:  $1,795,631
• 2019:  $  447,604

Marcia M Davies:  Total Compensation 2017-2023:  $7 million

• 2023:  $1,033,695
• 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 2017-2023:  $5 million

• 2023:  $718,015
• 2022:  $702,828
• 2021:  $682,128
• 2020:  $673,855
• 2019:  $619,489
• 2018:  $586,823
• 2017:  $575,101

William P Killmer:  Total Compensation 2017-2023:  $3 million

• 2023:  $667,957
• 2022:  $651,082
• 2021:  $618,465
• 2020:  $628,805
• 2019:  $616,892
• 2018:  $597,058
• 2017:  $574,668

Michael P Flood:  Total Compensation 2021-2023:  $1.5 million

• 2023:  $556,203
• 2022:  $531,573
• 2021:  $467,040

Michael Fratanoni:  Total Compensation 2017-2023:  $3 million

• 2023:  $528,015
• 2022:  $503,745
• 2021:  $478,926
• 2020:  $467,783
• 2019:  $426,040
• 2018:  $418,616
• 2017:  $398,465

Peter Grace:  Total Compensation 2017-2023:  $3 million

• 2023:  $512,222
• 2022:  $498,228
• 2021:  $462,409
• 2020:  $465,261
• 2019:  $436,593
• 2018:  $410,592
• 2017:  $367,322

Stephen O’Connor:  Total Compensation 2017-2023:  $3 million

• 2023:  $491,406
• 2022:  $477,950
• 2021:  $453,291
• 2020:  $463,441
• 2019:  $460,632
• 2018:  $468,266
• 2017:  $427,605

Lisa Haynes:  Total Compensation 2017-2023:  $3 million

• 2023:  $471,102
• 2022:  $445,874
• 2021:  $415,847
• 2020:  $404,580
• 2019:  $327,318
• 2018:  $255,999
• 2017:  $208,456

Michael Briggs:  Total Compensation 2017-2023:  $1 million

• 2023:  $433,260
• 2022:  $416,332
• 2021:  $223,914

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.

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

• $475,000:  Creative Artists Agency, of LA, CA for talent and literary services
• $327,464:  Stratmor Group LLC, of Boulder, CO for data driven mortgage info
• $203,498:  Keen Technologies Group, of Warrenton, VA for technology
• $158,416:  Davis Carter Scott, of Tysons, VA for architectural interior
• $157,500:  Thorn Run Partners, of Washington DC for government relations, policy, strategic

To read the IRS Form 990 (2022 for the year ending September 30, 2023), click here.