WASHINGTON, D.C.--- John A. Courson, Chief Executive Officer of the Mortgage Bankers Association (MBA), today announced that Tom Koonce (top right photo) will join MBA as Vice President of Legislative Affairs, effective November 2, 2009.
In this role, Koonce will lead MBA's day-to-day lobbying efforts on Capitol Hill working with Members of Congress and their staff on issues important to MBA's members. He will report to Steve O'Connor, MBA's Senior Vice President of Government Affairs.
"We are very fortunate to have someone with Tom's expertise leading MBA's legislative team," said Courson. "Tom has valuable experience working on the Hill on issues related to housing and mortgage finance, and he knows how to work with a variety of constituencies in a major trade association."
Cheny and Bradshaw Get New Posts
WASHINGTON, D.C. - John A. Courson, President and CEO of the Mortgage Bankers Association (MBA), today announced the appointment of Brad Cheney as Director of Legislative Affairs. In addition, he also announced the promotion of Pace Bradshaw to Director of Government Affairs.
"Promoting Pace and adding Brad will ensure MBA's voice on Capitol Hill continues to be strong and effective on behalf of our members," said Courson. "Given the issues facing our industry, we believe that having our strong and experienced lobbying team is more important than ever."
Cheney is joining MBA from the office of Congressman Brad Sherman (D-CA), where he served as Chief of Staff. In that role, he was responsible for managing all operations of the Washington, DC office, including developing and implementing critical strategy during the recent financial crisis and stabilization efforts. In his new role, Cheney will join MBA's lobbying team on Capitol Hill working with Members of the House of Representatives and Senate. He will begin on November 10.
"MBA is excited to add Brad's energy and expertise in lobbying for the issues important to our members," said Steve O'Connor, (top left photo) MBA's Senior Vice President of Government Affairs. "He brings with him valuable experience and knowledge which he will put to use on the industry's behalf."
CONTACT: John Mechem, (202) 557-2924, mechem@mortgagebankers.org
MBA, CMSA Comment to Regulators on Proposed Treatment of Assets Coming on Books as a Result of FAS 166 and FAS 167
Washington, DC-- The Mortgage Bankers Association (MBA) and the Commercial Mortgage Securities Association (CMSA) filed a comment letter with banking regulators Wednesday to address the proposed risk-based capital (RBC) treatment of assets coming on the books of banks on January 1, 2010, as a result of FAS 166 and FAS 167.
FAS 166 and FAS 167, issued by the Financial Accounting Standards Board (FASB) in June 2009, will generally require that assets and liabilities of prior private label residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) be put on the balance sheet of the issuer, servicer or special servicer for all deals prior to January 1, 2010. These new guidelines will also apply to all deals commencing on or after that date.
CONTACTS:
MBA CMSA, John Mechem , (202) 557-2924, jmechem@mortgagebankers.org
Kenneth Reed (212) 589-0961, kreed@cmsaglobal.org
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