Mortgage Bankers Converge

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MORTGAGE EXPERT
10 · 26 · 04

SAN FRANCISCO — Mortgage bankers kicked off their annual conference in the city by the bay just a week before the presidential election.

As one of the first orders of business, new officers were elected Monday at the Mortgage Bankers Association’s 91st annual convention and expo in San Francisco, Calif.

Newly elected chairman Michael F. Petrie, president of P/R Mortgage & Investment Corp., will be responsible for launching the trade association’s new strategic plan, and working toward enacting a uniform national standard to combat predatory lending laws.

“We are committed to clarifying and simplifying the mortgage process…keeping homebuying affordable by working for strong and safe secondary markets and…to fair loans for consumers,” which can all be achieved through MBA’s strategic plan and members working in a collective effort, Petrie told the mortgage bankers.

“The good that men may do separately is small, compared to what they may do collectively. Ben Franklin’s statement applies perfectly to the mandate of your association. When we work together we can do great things,” he added.

Robert Couch, MBA’s 2004 chairman, outlined the three main goals of the new strategic plan: to increase the number and diversity of its members to further increase credibility with legislators and regulators; enhance the visibility and the position of the industry and the MBA; and to establish industry standards and provide valuable member services. He said he believed a federal anti-predatory lending law will be reached next year.

The plan to increase its number of member companies from 2,900 to 3,500 in three years, will set way for MBA to reach its objectives, Petrie said.

Regina M. Lowrie was inaugurated to the chairwoman-elect post. Lowrie is the president and chief executive of Gateway Funding Diversified Mortgage Services, reportedly Philadelphia’s largest independent mortgage company.

MBAs new vice-chair is John M. Robbins, chairman and chief executive of American Mortgage Network and of AmNet Mortgage Inc., which are based in San Diego, Calif.

Couch introduced three incoming members of the Mortgage Bankers Legion: Joseph Franzetti, Citigroup Global Markets Inc.; Jeffrey Majewski, managing director-southern Calif. L.J. Melody & Co.; Ramon Prats, president of R&G Financial Corp.

Members of the Legion are retirees of MBA Boards that served for at least four years. The individuals are kept informed about issues and initiatives affecting MBA and the mortgage finance industry, and they can continue to play a role in assisting officers in reaching their purposes if and when they choose, according to the Washington, D.C.-based group.

The last part of the nearly three-hour session consisted of an interview by PBS talk show host Charlie Rose of former U.S. House Speaker Newt Gingrich and Mario Cuomo, the former and longest-serving Democratic governor in New York in modern history.

The political leaders debated about issues surrounding the 2004 election and its presidential candidates.

Mortgage Expert

Mortgage Daily Staff

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