Mortgage Bankers Association Chief Economist Douglas Duncan will be leaving the mortgage industry trade group for Fannie Mae. In a statment late today, Jonathan Kempner, president and CEO of the MBA, commented on Duncan's departure. Duncan announced today that he has accepted an offer to be vice president and chief economist at the GSE. "Personally, I am very excited for Doug and this new opportunity," Kempner said. "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." The chief economist has been with the MBA since 1992. Before joining the MBA, Duncan was a LEGIS fellow with the U.S. House of Representatives Committee on Banking, Finance and Urban Affairs. Duncan will be replacing David Berson, who left Fannie Mae for PMI Group last September. As chief economist and strategist at PMI, Berson focuses on domestic and global market research and planning, support of government relations and public policy, and strategic environmental planning.