Executive Compensation at the Mortgage Bankers Association (2024)

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 40 independent voting members (board members) of the governing body;  33 of the 40 (83%) are male while 7 (17%) are female.

The MBA reported total revenue of $69 million in 2020, most of which came from memberships dues ($22 million), conferences and programs ($23 million), and education/programs/publications ($9 million).

Expenses totaled $62 million with the largest expense reported to be compensation ($38 million)  followed by conferences/conventions/travel ($11 million) and office expenses ($8 million).

The MBA has $123 million in net assets.

181 employees received $38 million in compensation in 2o23, an average of $210,000 each.  However, only 114 employees received more than $100,000 with the 15 most highly compensated reported to be:

• $2,216,614:  Robert D Broeksmit, President and CEO
• $  955,446:  Marcia M Davies, COO
• $  709,641:  Gordon R Mills, SVP, Res Policy and Membership
• $  673,738:  William P Killmer, SVP. Legal and Political Affairs
• $  562,074:  Michael P Flood, SVP, CREF and Multifamily
• $  523,574:  Peter J Grace, CIO/SVP, Strategy and Membership Services
• $  510,267:  Michael C Fratanoni, Chief Economist, SVP of Research and Industry Tech
• $  497,269:  Lisa J Haynes, SSVP, CFO, and CDIO
• $  494,034:  Stephen O’Connor, SVP, Affordable H0using Initiatives
• $  434,710:  Michael W Briggs, SVP and GC
• $  403,712:  Elaine Howard, VP, Meetings
• $  388,130:  John Mechem, VP Public Affairs
• $  383,486:  James Woodwell, VP, Commercial Real Estate Res
• $  374,287:  Justin Wiseman, VP, Regulatory Affairs
• $  358,868:  Theressa Lurk, VP, Marketing and Design

The 15 most highly compensated employees received nearly $10 million in compensation in 2024.  11 of the 15  (73%) most highly compensated employees are male while 4 (27%) are female.

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.

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

• $258,855:  Stratmor Group LLC, of Boulder, CO for data driven mortgage info
• $185,104:  Lifton Larson Allen, of Minneapolis, MN for audit, tax, and consulting
• $180,000:  Thorn Run Partners, of Washington DC for government relations, policy, strategic
• $129,730:  Malloy Associates, of Alexandria, VA,  for consulting
• $128,750:  Diversity Talent Advisors, of Upper Marlboro, MD for executive search, leadership development

The 5 independent contractors above were compensated nearly $900,000. Given the organization reported paying out $2.2 million to independent contractors in 2024 but that only 7 received more than $100,000 and less than $1.2 million (5 of whom received $900,000 with the other 2 compensated less than $258,000) then the remaining contractors who received about $1 million but less than $100,000 each.

To read the IRS Form 990 (2023 for the year ending September 30, 2024), click here.