Mrs. Truman would say i it is my life and i am not possible today. Independent. It depends on the woman. If she wanted to get involved, women are so much more out now than they were then. The 1940s and 90 victims. Choose our own woman. Thank you to both of you. And the 1950s. She was her own woman. Thank you to both of you. We appreciate your time. Thank you to the White House Historical association and partners as to the folks at the Truman Library in the truman house and independence for their help with the video tonight. [captions Copyright National cable satellite corp. 2013] [captioning performed by national captioning institute] next week on first ladies, mimi eisenhower. Share limited relations with the nape with the press. She took charge of running the white house and conducting inspections and improving all of may use for berger setting number of state visits. Menus for a recordsetting number of state visits. On november 4, will be live inside the eisenhower farm. Purchased in 1950, they spend their time for the rest of their lives including during the white house years. Join us for look at the life of Mami Eisenhower date at 9 00 p. M. Eastern. We are offering a special edition of first ladies. A biography important of each first lady. It is available for the discounted price of 12. 95 plus shipping. Our website has more about the first ladies including a special section. Produced by our partner. It chronicles life in the executive mansion. You can find out more at www. C span. Org firstladies. In a few moments, the opening h anniversarye 100t of the Mortgage Bankers association. The bankers will hear from Richard Cordray [applause] the opening session of Mortgage Bankers association include remarks by d. C. Mayor iting grave and president good morning, everyone. I want to welcome all of you to the District Of Columbia and to this 100th anniversary conference. We are very pleased to have you here in our great city. Let me start by telling you a little bit about our Housing Market here in the District Of Columbia. And the impact of the latest development which of course you just heard a little bit about the government shuts down. Economy,f our unique the distro columbia has had one of the strongest Housing Markets in the nation. Hurt even ourown robust market. We were especially vulnerable because the district is unique in another way. That is we cannot spend our own money spend our own without an appropriations bill from congress. Economy may have lost as much as, ladies and gentlemen, 1 million over the 2. 5 week we thethe City Government, City Government was involved in this. We kept our government open by spending our reserves. Our police state on the beat and the garbage trucks continued to pick up. I am sure you can imagine the psychological impact on people considering a buying a home during the shut down and the weeks leading up to it. This is especially true in this region with its reliance on the federal government as it has been for decades. Badou know, uncertainty is especially bad for the Housing Market. In fact, sales which usually pick up in the fall actually slowed down from the summer here in the District Of Columbia. Consumer sentiment naturally fell to a ninemonth low after the shut down and undoubtedly the same thing happened here. I think we all know that is not helpful when you are trying to get the economy back on its feet again. Consider the damage to the Housing Market, the broader likelihood ands struggling businesses all for a maneuver that in my opinion accomplished absolutely nothing. I am hopeful that the forces driving the strong Housing Market during the first half of the year will continue especially here in the District Of Columbia. While sales slowed from august to september, this september was actually stronger than a year ago. What is driving us here in the district . Housesare seeing their after being underwater. Our population is growing. Growing by the way by the rate of 1100 people a month. And so is demand for housing. My administration is working hard to die for us by our economy and bringing in new businesses and new endeavors so we do not have to rely on much on the government as the District Of Columbia has in the past. That ourtimistic Housing Market will continue to grow over last year and continue to be a major driver of the economic recovery. Even despite what we now know are rising mortgage rates. Overall, homes are selling briskly. The median number of days on the market was 17 in september a bubble to the peak of the housing both back in 2005. Our district government is doing toarly what we can as well be able to continue to stimulate the market. Our department of Insurance Securities and banking is a local regulator for mortgage , andrs, brokers originators in the District Of Columbia. We have joined the nationwide mortgage licensing system. A collaborative effort by state regulators to bring greater efficiency and accountability to the supervision of the mortgage industry to stop industry. We are part of the american Morgan Mortgage association. Which is dedicated to creating more effective mortgage supervision through an exchange of ideas among the states and the District Of Columbia. Licensing activity shows the strength of the mark begich of the mortgage, licensed almoste lenders rise by 25 . Had 830 now, we over 1000. Mortgage Loan Originators have risen by more than a quarter. With foresight, we are prepared for the increase in licenses by adding examination staffers. I ask that each of you help us to keep the important chunk, this important chunk of our economy strong by supporting budget independence for the District Of Columbia. As we work to be granted authority to spend our own money , our own money generated from our property taxes and income taxes and sales taxes. And so i ask you to let congress the federalng down government has implications far beyond capitol hill to who calledand people the Nations Capital home. I would ask you one other thing as you were here during the week and that is during the time you are not in these sessions, i want you to go out and the stadium and spend every new will and im that you have in your pocket. [laughter] ways thate of the will help to keep our economy strong as well. We hope that you have a great time here in the city. This a wonderful city and it is growing and developing by leaps and bounds. We have a population that is greater than just higher state of vermont. Greater than the state of wyoming. We are gaining on the state of north dakota. I am also proud to be able to do something that i get to uniquely do and that is declare certain conditions in the District Of Columbia. I am proud to be able to , october 28, 2013 associationbankers today in the District Of Columbia. Thank you very much. [applause] welcome the 2013 chairman of Mortgage Bankers association, deb still, cmb. [applause] thank you to mayor great for his great greeting and permission to go shopping. Good morning, everyone and welcome to our 100th celebration. When i reflect on 100 years and this milestone and a Noble Mission of our industry across the great span of years, today is a celebration of the legacy of the past. It also inspires me to envision a new legacy, one that we can leave for those who follow. And the turn of the century for mba makes me very proud of the strong continuity of our trade association. Chair, as outgoing passing the baton between the first 100 years and the next is indeed a privilege. It has been my distinct honor to serve as the 99th chairman of Mortgage Bankers association. In retrospect, my timing was perfect. When better to serve than during a time when we all have been fundamentally challenged to transform our industry. As chairman, i thoroughly enjoy an active role in helping to save the many issues and debates of the past year. When in washington, my goal was to demonstrate that we as business practitioners can and must play a vital role as the architects of a Bright Future for Real Estate Finance. My focus has been on the complexity of the Regulatory Environment and the need for broad access to credit for qualified borrowers and a vibrant and competitive marketplace. Tohas also been my desired share my values for an industry that i care deeply about. Two in particular which i hope will continue to inspire. Over the past year, i have talked a great deal about leadership and ive expressed my strong belief that we as industry professionals to uniquely sufficient to lead change and that nowhere is our leadership more important than that and how we choose to run our on companies. Here is our opportunity to leave a legacy by raising the professional standards of our industry and instilling a genuine duty of care to the consumer and to demonstrating that we belong as an electrical part integral part. Many of you have also heard me talk about the concept of owning a home. Where to gather we accept responsibility for the success of the entire your Real Estate Finance community while still being accountable for our own individual pieces. I believe there is no better opportunity to on the whole and at mba. I am proud of that going into our 100th year, this approach differentiates the Value Proposition and sets us apart from others in washington. I am thrilled that owning a whole is fully embodied at mbas new platform, one voice, one vision, one resource. Tochairman, it was important me to be an active spokesperson for our industry and promote a andd engagement within mba with each other. I have loved having a leadership role at mba because it is giving me a chance to travel the country and beaten with many of who industry professionals have the same passion and commitment as i do. Your partnership has been a testimonial that working together and learning from each other as both energizing and effective in finding a better tomorrow for our industry. A personalingly, frame of reference, mine as a independent mortgage banker supporting a homebuilder and as with any new experience, there are lessons that are learned. I would like to share a few with you that have fundamentally changed the way i think about my industry, my colleagues, and myself. I used to label my profession. I learned a more strategic description is to include all of us together as Real Estate Finance. Perspective was centered on home ownership. My colleagues talk to me that housing is about having a home whether you own it or rent it. I now know that commercial lending is more than financing buildings. Its about creating Community Centers and helping gathering places and developing culture. I learned their regulators, policymakers, and all other stakeholders must be treated as business partners. To get anything accomplished, we must align and work together. And our Common Ground is always the wellbeing of consumers. And getting to know so many of you, i have learned firsthand that the vast, vast majority of lenders are caring individuals who are fully committed to the borrower and two running responsible businesses. And finally, i have discovered that i am not a done wanting to serve and so i am very excited to embrace a new role as the chairman of mbas open doors foundation. I am looking forward to expanding the giving efforts so that lenders have yet another meaningful way to demonstrate their commitment to Sustainable Housing through giving. I have so many people to thank. In addition to my industry friends and colleagues, i would like to express my sincere gratitude to the men and women of mba staff for their leadership, hard work, and general support over the past year. Eight has been my great pleasure working with our dynamic leader. The effectiveness of days daves leadership has been remarkable. My experience as chairman has been so much partner a richer. If leaving a legacy means making a difference, antiyear mba the entire mba team is doing its part to creating a positive legacy. It also takes an extended team to serve as mba chair. I have had extraordinary support from my husband. At pulled theteam Financial Services along with my homebuilder. Their support has been phenomenal and i sincerely look seeing to returning and a much more of them in the near future. Treasure this onceinalifetime experience and the wonderful memories i am left with. In addition to many speaking opportunities, i have testify in congress had a meeting at the white house and at treasury. I have participated in seminars at harvard university. And Bipartisan Policy Center here in washington, d. C. And my engagement, i will always cherish my trail of tears recognition and indian headdress from the oklahoma mba and the honor of an award named after me by the colorado mortgage lenders association. I came to this role committed to serve. Received sohaving much more than i ever wouldve expected. It has been a joy. It is said that a legacy is what you create and contribute today that lives on. As i passed the baton, i am very proud to be a part of the legacy of mbas first century. I am very excited about the momentum and legacy left to be crated. Thank you very much. [applause] thank you very much. Thank you. Ts eliot said it fast. To make an end is to make a beginning and so it is my great honor to introduce the 100th chairman of Mortgage Bankers association. E. J. Burke is effective Vice President and group had of key under his leadership, keybank has grown to be a top five thank conduit and when the largest servicers and the united states. Ej has been in banking on commercial lending for 33 years and is an active member of mba for the past 15. He has served on the board of directors, the commercial multi family executive roundtable, the ceo executive form, and Multi Family Task force. He chaired the commercial board of governors. Having worked with ej, i can tell you personally, your next chairman is a great business partner, a strategic thinker, a sound decision maker, and a strong leader. He will do a fabulous job for mba and Real Estate Finance. I thought since we are packing the baton at the century mark, our next chairman deserves to have a baton literally. Engraved with his name to commemorate this occasion, ladies and gentlemen, i am pleased to introduce the chairman of the Mortgage Bankers association, my friend and colleague, mr. E. J. Burke. [applause] wow. How do you follow an act like that . Give one more hand to deb still. [applause] good morning. And happy birthday, mba. Ouruld like to recognize important sponsors and exhibitors for their contributions and commitment to the Real Estate Finance industry. Their support allows us the ability to provide Extraordinary Service to our members, so thank you. This is a special time for mba in im honored to serve as the 100th year. We join an elite groups that have withstood the test of time to provide their members with 100 years of service. ,very day since our inception with of advanced Real Estate Finance and america and have grown stronger through depressions, through wars and natural disasters editor variety of other crises and events. Our history tells a story that holds true today. We performed to represent the best interest of borrowers and lenders to a sure those who want to start a business or buy a home to provide safe shelter and a better life for their family have the ability to do so. Our roots run deep. From the beginning, we provided services and we supported a strong supply during times of war by providing farmers with axes to credit. We have facilitated the inspiration of entrepreneurs. Will help to create Economic Growth by allowing companies to willd and supported and continue to support Community Growth by providing families access to the homes where they live. It is an honor to serve you as mbas chairman. Our loan jetted to our longevity and part is contributed to strong leaders. They put the borrowers first and their own interests last. Today, more than average tom a we need our leaders more than ever, we need our leaders to do just that. I am new to many of you and this role. Let me take a brief moment to tell you how i got to stand here today. My career in banking and finance started back in 1978. I dreamed big but never imagined the extent to which it would advance. How many communities would be advanced stuff one inc. I have learned is that we as Mortgage Bankers have a huge impact on communities and businesses and borrowers we serve. Greathat comes responsibility to do the best job we can and supporting the lives we touch and in the economy to which we contribute. My First Experience with mba was in 1979 through its education programs. Back then as a commercial banker, i took an underwriting course. 1983, run record recruited me mccord recruited me. Him,hose of you who know you know how convincing he can be. Shortly after joining his team, i attended my first convention. How things have changed in early years. 10 years later in 1994, i attended my first commercial real estate conference. Almost everyed year since. Since 2008, we serve and is a credible educational guide and networking opportunity that brought value to my career. It still does today. Since that time, i have learned the Important Role that advocacy can play in advancing my business and the industry as a whole. I have had the opportunity to devote much more my time to mba advocacy efforts in recent years. Not only have i seen firsthand how effective advocacy is, ive also seen how important the role of Member Engagement plays in advocacy. I have done this with a complete support of my firm who recognize the value i brought home by increasing my involvement with mba. Now the of understanding of where i came from, allow me to tell you where i like to see us as an organization, industry in the future. I would like us to grow in three broad areas. First, the business of mba. Real estate finance, it relies upon our borrowers and the state of the general economy. We live by the Business Cycle and some companies have died by it. It is the reality of the world we live in. The businesses that survive are nimble enough. Mba must be able to do the same. Ourl rely on the success of members and must prepare the best we can for the inevitable downside. Us, mba has seen its challenges in recent years. Through the strong leadership of my predecessors and particular through the strong leadership