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State & Local Advisory Council Announces Elects/At-large Representatives, Names Chairman


Orlando, FL (October 21, 2005) - The Mortgage Bankers Association (MBA) announced the newly elected and appointed representatives of MBA’s State and Local Advisory Council. The new council members were inducted during the council’s meeting just prior to MBA’s State & Local Workshop held in Orlando on October 21 and 22.

The spring election conducted by MBA’s adjunct state associations resulted in four new representatives to the State & Local Advisory Council. For the Western Region, the new association manager representative is Susan DeMars, executive director of the California MBA in Sacramento, CA; the new volunteer representative is Mary Morstadt, specialty lending manager with National City Mortgage Company in Bloomington, IL. E. Robert Levy, executive director of the MBA of New Jersey in Springfield, NJ, and Mark A. Stiles, regional program manager with Prosperity Mortgage Corporation in Rockville, MD, were chosen as the association manager and volunteer representatives, respectively, for the Eastern Region.

At the council’s meeting, two appointed at-large representatives also were seated. Lisa Farrar and Michele Watson will serve the Western and Eastern Regions, respectively.

Farrar, senior vice president and regional manager with Countrywide Financial Corporation in Tempe, AZ, served two terms as president of the Arizona Mortgage Lenders Association (MLA). Watson is director of homeownership development programs for the Virginia Housing Development Authority.

Murray E. Brown, counsel with Karoub Associates, in Lansing, MI and immediate past vice chair of MBA’s State Legislative and Regulatory Committee, has been nominated to serve on MBA’s board of directors as the state and local representative. Murray will also serve as the chairman of the State & Local Advisory Council.

Several representatives continue to serve until October 2006. They include: E. Michael Rosser, CMB, United Guaranty Corporation, and George Gummer, director emeritus of the Ohio MBA, in the Western Region. Joseph Cudwadie, vice president with Sunset Mortgage Company, L.P. in Chadds Ford, PA, and Kevin Cuff, executive director of the Massachusetts MBA, will continue to serve as the volunteer and association manager representative in the Eastern Region.
The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 500,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation`s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,900 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA`s Web site:


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