Roy DeLoach is packing it in as CEO of the struggling National Association of Mortgage Brokers, but will serve as the trade group's chief (outside) lobbyist on real estate finance issues.
A formal announcement is expected after the election.
DeLoach — whose chief task at NAMB was government relations — told National Mortgage News that he has accepted a position with a Washington lobbying firm started by a former aide to Sen. Tim Johnson (D-S.D.) "NAMB will be one of my clients," he said.
With DeLoach's departure, NAMB will have just three full-timers left on staff, compared to 15 back in 2007. A few months back it relinquished its permanent office space.
"NAMB will still focus on legislative protection," he said. According to DeLoach, the trade group has roughly 5,000 members compared to 25,000 during its peak a few years ago.
According to figures compiled by NMN and the Quarterly Data Report, brokers have been losing market share steadily for three years, and now account for just 10% of all loan production in the U.S., compared to a peak share of 30%.
