Kempner Comments on Departure of Doug Duncan

Jonathan L. Kempner, President and CEO of the Mortgage Bankers Association (MBA) today issued the following statement on the departure of Senior Vice President and Chief Economist Doug Duncan. Duncan announced today that he has accepted an offer to be Vice President and Chief Economist for Fannie Mae.

'Over the past 15 years, MBA has become one of the most trusted sources of economic analysis on the housing industry. Doug Duncan has been a major reason why. With his balanced and level-headed approach, Doug has become a household name for anyone trying to understand the dynamics of the real estate market. For that reason, he will of course be sorely missed.

'However, over those 15 years, Doug has built a smart and talented team that has driven MBA's growth and success in the data and research field. They have my full confidence and I don't expect MBA to miss a beat while we search for a successor.

'Personally, I am very excited for Doug and this new opportunity. At the same time, I lament losing his expertise and counsel on which we have come to rely. But MBA's loss is Fannie Mae's gain, and I am buoyed by the fact that America's housing industry will continue to benefit from Doug's talents.'