The Mortgage Bankers Association of America announced last week the nomination of James M. Murphy, Chief Executive Officer of New England Realty Resources, Inc. as its Vice President-elect and Thomas P. Cronin, Vice Chairman of Matrix Bancorp and CEO of United Financial, Inc, as its Vice President/Treasurer-elect.
Murphy and Cronin will be elected officers of the MBA at the Association's 86th Annual Convention, which will take place October 10th-13th at the John B. Hynes Veterans Convention Center in Boston, MA.
Murphy's 27-year career in finance began in the life insurance industry with MassMutual Life Insurance and continued through 1982 with UNUM Life Insurance Co.
Cronin began his career with Advance Mortgage Corporation (Citicorp) in Detroit. Following stints in the company's Detroit and Seattle offices, he joined Advance's secondary marketing department in 1972. In 1977, Cronin left Advance to start the Interest Rate Futures Department for Drexel Burnham in Chicago, where he remained for 13 years representing various mortgage trading operations in risk management strategies.
In 1990, he returned to main-line mortgage banking in his native Michigan and since 1997, he has served in his current capacity overseeing one of the nation's leading mortgage servicing advisory, risk management, evaluation and brokerage companies.