MBA elects Michael Berman as 2011 chairman
[Update 1: clarifies CRE Finance Council independence] The Mortgage Bankers Association elected Michael Berman as its next chairman and added two other 2011 board members at its 97th annual convention in Atlanta Monday. Besides Berman, the MBA also named Michael Young chairman-elect and Debra Still as vice chairman. Berman is president and CEO of CWCapital, a commercial real estate finance and investment management company based in Needham, Mass. CWCapital is a subsidiary of CWFinancial Services, where Berman serves as a member on the board. He also serves on the Commercial Real Estate Finance Council and the Commercial/Multifamily board. As chairman, Berman's top priority will be to continue MBA's role in redesigning the government sponsored enterprises, Fannie Mae and Freddie Mac. "I am honored to serve our industry as MBA's 2011 chairman," Berman said. "MBA will continue to lead the battle to restructure GSEs with private capital and a new, clearly defined, but limited government role in guaranteeing mortgage-backed securities." Chairman-elect Young is chairman of the board of Cenlar FSB, a Ewing, N.J.- based wholesale bank that focuses on subservicing. He sits on the MBA's Council on Ensuring Mortgage Liquidity, a task force of MBA members created to examine policy options and issue recommendations for the future of the secondary mortgage market. Young also serves on MBA's board of directors, residential board of governors (RESBOG) and a strategic planning committee. Still is president and CEO of Pulte Mortgage, the mortgage lending arm of Pulte homebuilders in Englewood, Colo., and has served on many MBA boards. Write to Christine Ricciardi.