The Mortgage Bankers Association swore in its new chairman, chairman-elect and vice chairman Sunday at its 2017 Annual Convention and Expo in Denver.

The new chairman, Colonial Savings President Dave Motley, will begin his term in 2018, but his time serving with the MBA began much before that. The MBA explained Motley has been an active member of the MBA for more than 20 years, and even served on the board of directors for six years.

Motely also served on MBA’s Residential Board of Governors since 2008, including two years as RESBOG Chair. He participated on MBA’s Secondary and Capital Markets, Residential Loan Production and Loan Administration Committees, and as the Servicing-21 Working Group co-chair.

“I am honored to serve as MBA’s 2018 chairman and look forward to the year ahead,” Motley said. “It will be a pleasure to work with both Chris and Brian and together we will ensure that MBA serves its many members, of all sizes, by focusing on the issues that most affect the residential and commercial/multifamily industries.”

But even before Motely’s term begins, he is already striving to bring a change in the mortgage finance industry. In a speech about the industry’s diversity initiatives at MBA Annual he used the description, “Pale, male and stale.”

The MBA also swore in Christopher George, CMG Financial president and CEO, as its chairman-elect and Brian Stoffers, CBRE global president of debt and structured finance as its vice chairman.

George, who founded CMG Financial, has served on the MBA’s board of directors since 2012 and is a member of its Independent Mortgage Bankers Executive Council and Consumer Affairs Advisory Council. George previously served as chairman of the California Mortgage Bankers Association.

Stoffers is a recipient of the MBA’s Commercial/Multifamily Distinguished Service Award and has served on the association’s Affordable Rental Housing Task Force, GSE Multifamily Task Force and Risk Retention Task Force. Stoffers is also a major supporter of the MBA’s Open Doors Foundation, which sponsors philanthropic activities focused on home and community support, and the Mortgage Action Alliance.

The MBA explained to HousingWire that there is a three-year leadership progression to become the voluntary chairman, where leaders serve one year on each rung: vice chairman, chairman-elect and chairman.

The MBA’s current chairman, NorthMarq Capital Executive Chairman Rodrigo López, will remain on the association’s board of directors.