Kempner was tapped to head MBA in March 2001. He came on board after three rough years for the agency. During his tenure, the association reports that it doubled revenues and its operating reserve fund.
More recently, the association has suffered financial setbacks due to the year-long credit crunch. According to news accounts MBA's revenues are expected to shrink by some 10% to 15%. MBA has also been forced to cut staff, reports say.
Kempner did not explicitly give a reason for his departure. According to news accounts, it was his decision to leave. "MBA's mission, I am convinced, will be enhanced with new leadership, and on a personal level, I very much look forward to a new position of leadership myself after nearly eight wonderful years at MBA," he says in a prepared statement. MBA did not return a call to GlobeSt.com in time for publication.
Courson will become Chief Operating Officer of the MBA on Aug. 1, 2008. He will be assuming his new post at a time when the industry, it hardly needs to be said, is in great flux and some turmoil. He comes to the association already familiar with its issues, having served as chairman in 2003 and as a member of MBA's board of directors, the Residential Board of Governors and the Commercial Real Estate/Multifamily Finance Board of Governors. He has also served as president of the California Mortgage Bankers Association and Michigan Mortgage Bankers Association, and as a director of the Texas Mortgage Bankers Association.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
