MBA has eight residential committees that report to the Residential Board of Governors (RESBOG). The chairs of these eight committees serve one-year terms on RESBOG as non-voting members.
The Residential Financial Management Committee represents the interests of mortgage banking companies on financial management-related issues. The committee’s primary focus is defending the interests of the mortgage banking industry before the Financial Accounting Standards Board (FASB), FASB’s Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Internal Revenue Service.
MBA Committee Staff Representative:
2014 Chair: Terry Schmidt, CMB
Vice President, Accounting Policy
2014 Vice Chair: Cory Stewart
SVP and Controller
If you would like to get more involved in MBA, consider volunteering for this or one of MBA’s seven other residential committees. Any employee of an MBA member company may join one or more of these committees. However, you must be an employee of a member firm. Individuals who are no longer employed by an MBA member company will be removed from committee rosters. Also, you will annually be asked via e-mail to reaffirm your intention to stay active on the committee.
What do the residential committees do? Actually, they perform a number of functions. In conference calls, e-mails and in-person meetings, they advance MBA’s national/federal advocacy agenda by providing a forum for the analysis of legislative, regulatory or industry issues.
They also serve as a means to inform Association staff of any emerging real estate finance issues. They are one of the primary means through which Association policy is developed. The committees are also communications tools for professionals within the industry. Lastly, the residential committees are also a method by which future MBA leaders are identified and developed.
For more information on this committee including how to join, please fill out the form: