Susan Zuber joined the Massachusetts Mortgage Bankers Association as president in 1994.

Susan Zuber, president of the Massachusetts Mortgage Bankers Association for the past eight years, has resigned.

Zuber will remain in her current position until the end of March, when she is expected to become the chief executive officer of the National Association of Enrolled Agents, a Washington, D.C.-based group representing tax preparers and taxpayers.

Zuber’s presidency at the MMBA began in July 1994. She came to the Bay State from Washington, where she served as director of membership for the Mortgage Bankers Association of America.

Notice of the resignation, first reported Thursday by Banker & Tradesman on its Web site, www.BankerandTradesman.com, was sent to MMBA board members via e-mail on Wednesday. The motivation for the decision was both personal and professional, Zuber said.

I lived there [Washington] for 15 years and moved here eight years ago to take this position [at MMBA]. It’s going back to a community of friends, family and colleagues I have missed for a long time, Zuber said, adding she owes her professional advancement to the time spent and experience garnered as president of the MMBA.

Zuber will be missed, according to Nathan Hagan, chairman of the MMBA and president of Stoneham-based Secondary Marketing Resources. She has done a lot with this organization over the years she’s been here to bring it to a new level, he said.

Ruth A. Dillingham, special counsel at Lenders Advantage in Boston and a member of the board of directors at the MMBA, said, I don’t feel anyone in the MMBA should feel that she’s walked away from us. Instead, association members should be happy for Zuber’s continued success, Dillingham said.

She’s been very, very good for the association, and it’s going to be a great opportunity for her to move on to a bigger association that’s looking for just the sorts of talents she has, said Dillingham.

Believe me, there’s a lot I’m going to miss [at MMBA]. I wasn’t actively searching [for a new job], said Zuber, who added that when the opportunity presented itself, she concluded it would be a good professional move.

‘Political Junkie’
While the association was well-run when Zuber accepted the position, Dillingham said that Zuber brought many new ideas to the table due to her association background, particularly in the last year when we spent some time on an internal strategic plan and how we’ve really gotten a voice up on [Beacon] Hill and we’re pretty consistent in how we approach [issues], Dillingham said.

Hagan summarized Zuber’s accomplishments by citing what he sees as her legacy: improving MMBA’s reputation on Beacon Hill. The [difference is in the] way that politicians and the commissioner of banks look at the association differently, a party to be included in crafting new laws and regulations as opposed to somebody you have to deal with after the fact.

She certainly has been here for a long time and, actually, it’s very gracious of her to do this at this time of year, otherwise we’d be in Newport chaos, said Dillingham, referring to the association’s usual site in Rhode Island for its annual conference.

Growing the New England Mortgage Banking Conference in Newport into a national event is one of her proudest accomplishments, said Zuber. When I started in 1994, there were 600 people and 68 exhibitors. Now we’re averaging about 1,900 people and 140 exhibitors.

Additionally, Zuber has lobbied hard to raise the visibility of the MMBA before the state Division of Banks, Beacon Hill legislators and in Washington. She parlayed her connections into personal speaking engagements for the MMBA by the likes of former Bank of America Mortgage President Andrew Woodward and political strategists Mary Matlin and James Carville.

Zuber’s experience with Washington politics through her past association work helped her navigate a course through the Massachusetts political maze, she said.

I’m a political junkie. Obviously in Washington you’re in the heart of it and it’s national and world politics, but if I were going to go to a city with an equally interesting political landscape, this [Boston] was certainly the place to be. I loved the legislative side of the work that I did here, said Zuber.

During her tenure, Zuber worked to focus the spotlight of favorable media attention on the elected officers of the MMBA, but she never shied away from Beacon Hill battles.

Stephen E. Sousa, senior vice president of publications at Banker & Tradesman and past president of both the MMBA and the Massachusetts Mortgage Association, said some of Zuber’s biggest accomplishments occurred in the legislative arena, particularly in the passage of points legislation. Up until the mid-1990s, state law allowed the Division of Banks to determine what the maximum number of points charged on a mortgage transaction could be, said Sousa. It really was an artificial ceiling, so the MMBA drafted and filed legislation that, for all intents and purposes, repealed the law, he said.

MMBA’s presence through Susan [Zuber] in a number of task forces, and dialogue with legislators and the [bank] commissioner, has helped preserve a positive business environment for the industry, said Sousa.

More recently, Zuber found herself in the unpopular position of representing one of only two groups speaking against a bill sponsored by Rep. Jarrett T. Barrios, D-Cambridge, which would expand the Community Reinvestment Act standards to mortgage companies. She acknowledged her difficult position while speaking to the Joint Committee on Banks and Banking and focused her arguments on the unintended consequences the bill, as written, potentially would have.

I think she’s done a really good job, said Sousa. She’s managed to grow the organization and some of its major programs like the New England Mortgage Banking Conference. She’s managed governmental affairs very well and been able to create a positive relationship with government officials, he said.

Dean Caso, former chairman of the MMBA and president of Homevest Mortgage in Newton, echoed others in what he saw as Zuber’s chief accomplishments. She’s done a lot … in terms of helping to voice the association’s opinion, specifically on legislative and compliance issues both up at the State House and up in Washington – tapping into her past experience and past contacts with the Mortgage Bankers Association of America, he said, adding that she also was instrumental in improving the financial condition of the association. All in all, I think she’s done a fantastic job, he said.

I wish Susan all the best. I’ve known her for a long time, worked with her through association work and have a lot of respect for her, said Carol Bulman, president of Norwell-based Conway Financial Services and former chairman of the MMA.

She’s worked very hard; she’s very dedicated to the industry. She’s got great energy and commitment and has really supported the MMBA in increasing membership and many of the other goals they’ve put forth, said Bulman.

From a professional perspective, I think it’s going to be great because she has grown our association so well that she’s ready to move on to something [the National Association of Enrolled Agents] with 10,000 members and 15 staff, said Dillingham.

Zuber also oversaw the development of The Mortgage Record in the fall of 1996. The association magazine, published by Banker & Tradesman’s parent company, The Warren Group, is received by MMBA members quarterly.

Replacing Zuber will be no easy task, according to observers.

Somebody with the industry and association background that Susan brought to the table is going to be very difficult to replace, said Hagan.

The MMBA has a challenge on its hands, said Sousa, in trying to match attributes Zuber brought to the table. It’s not only what she brought to the organization but trying to find someone who can lead the organization through this next decade of change, he said.