2026-07-13T08:04:20-05:00 2025-08-31 410746749 CLIFTONLARSONALLEN LLP 950 N GLEBE ROAD SUITE 1200 ARLINGTON VA 22203 990 2024-09-01 366109824 RESEARCH INSTITUTE FOR HOUSING AMERICA TRUST FUND RESE 2025572700 1919 M STREET NW 5TH FL WASHINGTON DC 20036 ALEXANDRA BRINTON VICE PRESIDENT, CFO 2025572835 2026-07-06 1 1 CHICHI MSANGI P01972113 5712279500 2026-07-01 2024 2025-03-06 01:10:19Z MICHAEL FRATANTONI 1919 M STREET NW 5TH FL WASHINGTON DC 20036 813303 0 X WWWW. HOUSINGAMERICA.ORG X 1953 IL SEE SCHEDULE O.THE RESEARCH INSTITUTE FOR HOUSING AMERICA TRUST FUND WAS CREATED BY THE MORTGAGE BANKERS ASSOCIATION TO ENCOURAGE AND SUPPORT RESEARCH AND HIGHER EDUCATION ACTIVITIES IN THE FIELD OF MORTGAGE BANKING. THE TRUST AWARDS GRANTS TO EDUCATIONAL INSTITUTIONS IN ORDER TO PROMOTE HIGHER EDUCATIONAL STANDARDS, AND PREPARE COURSES AND PUBLICATIONS RELATED TO MORTGAGE BANKING AND REAL ESTATE FINANCE. 3 0 0 0 0 0 0 0 0 0 253717 257807 0 0 253717 257807 208152 280708 0 0 0 0 0 0 0 91091 90783 299243 371491 -45526 -113684 4484065 4540383 62000 133334 4422065 4407049 X THE MISSION OF THE RESEARCH INSTITUTE FOR HOUSING AMERICA IS TO PROMOTE AND DISSEMINATE KNOWLEDGE ON THE FUNCTIONING, STRUCTURE, AND FUTURE OF MORTGAGE MARKETS. AN EMPHASIS IS PLACED UPON ISSUES THAT WILL INFORM BOTH BUSINESS AND POLICY DECISIONS, WITH ATTENTION GIVEN TO EMERGING FINANCIAL AND ECONOMIC CHANGES WITHIN, AND AFFECTING, THOSE MARKETS. 0 0 330459 280708 0 THE INSTITUTE SPONSORS AND DISSEMINATES RIGOROUS YET ACCESSIBLE RESEARCH FOCUSED ON ISSUES IMPACTING HOUSING AND MORTGAGE MARKETS.RIHA MAKES GRANTS TO INSTITUTIONS AND INDIVIDUALS THAT FURTHER ITS EXEMPT PURPOSE OF ENCOURAGING AND AIDING THE PURSUIT OF KNOWLEDGE OF MORTGAGE MARKETS AND REAL ESTATE FINANCE. THE RESEARCH PRODUCTS THAT ARE SUPPORTED WITH THESE GRANTS ARE MADE AVAILABLE TO THE PUBLIC THROUGH RIHA'S WEBSITE AT WWW.HOUSINGAMERICA.ORG/PUBLISHEDREPORTS. THE FOLLOWING PAPERS HAVE BEEN PUBLISHED THROUGH THE FISCAL YEAR 2025: FISCAL YEAR 2025-- WHO WILL BUY THE BABY BOOMERS' HOMES WHEN THEY LEAVE THEM?: AN UPDATE THE FOLLOWING PAPERS HAVE BEEN PUBLISHED THROUGH THE FISCAL YEAR 2024: FISCAL YEAR 2024-- MORTGAGE BANKING IN THE UNITED STATES, 1870-1940 (10-YEAR ANNIVERSARY RE-RELEASE)-- MORTGAGE DESIGN, UNDERWRITING, AND INTERVENTIONS: PROMOTING SUSTAINABLE HOMEOWNERSHIPFISCAL YEAR 2023-- A COLLECTION OF ESSAYS ON CLIMATE RISK AND THE HOUSING MARKET VOLUME I-- A COLLECTION OF ESSAYS ON CLIMATE RISK AND THE HOUSING MARKET VOLUME IIFISCAL YEAR 2022-- THE IMPACT OF CLIMATE CHANGE ON HOUSING AND HOUSING FINANCE-- THE DISTRIBUTION OF WEALTH IN AMERICA SINCE 2016-- WHO WILL BUY THE BABY BOOMERS' HOMES WHEN THEY LEAVE THEM?FISCAL YEAR 2021-- HOUSING-RELATED FINANCIAL DISTRESS DURING THE PANDEMIC-- THE DISTRIBUTION OF WEALTH SINCE THE GREAT RECESSION-- THE LOCATION OF AFFORDABLE AND SUBSIDIZED RENTAL HOUSING ACROSS AND WITHIN THE LARGEST CITIES IN THE UNITED STATES-- WHY ARE OLDER WORKERS MOVING LESS WHILE WORKING LONGER?FISCAL YEAR 2020-- NO NEW PUBLISHED PAPERS IN FY2020FISCAL YEAR 2019-- NO NEW PUBLISHED PAPERS IN FY2019FISCAL YEAR 2018-- QUANTIFIED PARKING: COMPREHENSIVE PARKING INVENTORIES FOR FIVE U.S. CITIESFISCAL YEAR 2017-- OWNED NOW RENTED LATER? HOUSING STOCK TRANSITIONS AND MARKET DYNAMICS-- MANAGING MORTGAGE PRODUCT DEVELOPMENT RISK (COMPLETED DURING THE FISCAL YEAR 2017 BUT RELEASED ON 9/14/2017) FISCAL YEAR 2016-- COGNITIVE DECLINE AND FINANCIAL DECISION-MAKING AS INDIVIDUALS AGE-- DIVERTED HOMEOWNERS, THE RENTAL CRISIS, AND FOREGONE HOUSEHOLD FORMATION-- THE AFFORDABILITY OF OWNER-OCCUPIED HOUSING IN THE UNITED STATES: ECONOMIC PERSPECTIVESFISCAL YEAR 2015-- DEMOGRAPHIC DRIVERS OF THE US HOMEOWNERHSIP RATE: HOW SHOULD POLICY MAKERS RESPOND?FISCAL YEAR 2014-- A PROFILE OF HOUSING AND HEALTH AMONG OLDER AMERICANS-- MORTGAGE BANKING IN THE UNITED STATES 1870-1940FISCAL YEAR 2013-- A PROFILE OF HOUSING AND HEALTH AMONG OLDER AMERICANS-- MORTGAGE BANKING IN THE UNITED STATES 1870-1940-- IMMIGRANT CONTRIBUTIONS TO HOUSING DEMAND IN THE UNITED STATES: A COMPARISON OF RECENT DECADES AND PROJECTIONS TO 2020 FOR THE STATES AND NATIONFISCAL YEAR 2012--MEASURING THE BENEFITS OF HOMEOWNING: EFFECTS ON CHILDREN REDUX--THE HISTORICAL ORIGINS OF AMERICAS MORTGAGE LAWS--THE GREAT RECESSION AND ATTITUDES TOWARD HOME-BUYING--STRATEGIC DEFAULT IN THE CONTEXT OF A SOCIAL NETWORK: AN EPIDEMIOLOGICAL APPROACHFISCAL YEAR 2011--HOMEOWNERSHIP BOOM AND BUST 2000 TO 2009: WHERE WILL THE HOMEOWNERSHIP RATE GO FROM HERE?--HOMEOWNERSHIP EDUCATION AND COUNSELING: DO WE KNOW WHAT WORKS?--A STUDY OF REAL ESTATE MARKETS IN DECLINING CITIES FISCAL YEAR 2010 --A REVIEW OF STATISTICAL PROBLEMS IN THE MEASUREMENT OF MORTGAGE MARKET DISCRIMINATION AND CREDIT RISK --INTERNATIONAL COMPARISON OF MORTGAGE PRODUCT OFFERINGS --ANATOMY OF RISK MANAGEMENT PRACTICES IN THE MORTGAGE INDUSTRY: LESSONS FOR THE FUTURE --HOUSEHOLD REACTION TO THE FINANCIAL CRISIS: SCARED OR SCARRED? --WHAT HAPPENS TO HOUSEHOLD FORMATION IN A RECESSION FISCAL YEAR 2009 --A FINANCIAL ANALYSIS OF CONSUMER MORTGAGE DECISIONS FISCAL YEAR 2007 --THE IMPACT OF GLOBAL CAPITAL FLOWS AND FOREIGN FINANCING ON US MORTGAGE AND TREASURY INTEREST RATES FISCAL YEAR 2006 --STUDY ON HOUSING TRENDS AMONG BABY BOOMERS 330459 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 X ALEXANDRA BRINTON VICE PRESIDENT CFO 2025572700 1919 M STREET NW 5TH FL WASHINGTON DC 20036 MICHAEL W BRIGGS TRUSTEE-RIHA SECRETARY 1.00 34.00 X X 0 397060 39552 LISA J HAYNES TRUSTEE-RIHA TREAS. (UNTIL 10/24) 1.00 34.00 X X 0 371405 43830 ASTRID D VERMEER TRUSTEE-RIHA TREAS. (FROM 10/2024) 1.00 34.00 X X 0 113060 7905 MICHAEL C FRATANTONI TRUSTEE-RIHA TRUST ADMIN 2.00 33.00 X X 0 496875 21715 EDWARD J SEILER RIHA EXECUTIVE DIRECTOR 12.00 23.00 X 0 197183 45417 0 1575583 158419 0 0 1 0 0 161435 161435 651868 555496 96372 96372 96372 257807 0 0 257807 162650 162650 116000 116000 2058 2058 10648 10648 25585 25585 1013 1013 2261 2261 49751 49751 STAFF REGISTRATION 509 509 1016 1016 371491 330459 41032 0 63473 24057 39 44 4420553 4516282 4484065 4540383 62000 133334 62000 133334 X 4422065 4407049 4422065 4407049 4484065 4540383 -113684 98668 0 X 0 1 X 1 0 X X 1 MORTGAGE BANKERS ASSOCIATION 361505650 10 1 125000 0 1 125000 0 1 0 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 FORM 990, SCHEDULE A, LINE 12G: IN ADDITION TO THE AMOUNT SHOWN ON THIS LINE, WHICH WAS AWARDED DIRECTLY TO THE MORTGAGE BANKERS ASSOCIATION (MBA), RIHA'S SUPPORTED ORGANIZATION, ADDITIONAL AMOUNTS WERE GRANTED TO OTHER AWARDEES FOR PROGRAMS AND RESEARCH STUDIES THAT ENCOURAGE AND AID THE PURSUIT OF KNOWLEDGE OF MORTGAGE MARKETS AND REAL ESTATE FINANCE. THESE PROGRAMS SUPPORT CERTAIN EDUCATIONAL AND CHARITABLE ASPECTS OF MBA'S OVERALL EXEMPT PURPOSE, AND ARE THEREFORE CONSIDERED TO BE AWARDED FOR THE BENEFIT OF MBA. PLEASE SEE SCHEDULE I FOR ADDITIONAL INFORMATION ON THESE AWARDS. PART IV, SECTION A, LINE 3B: DETERMINATION OF SATISFACTION UNDER THE SECTION 509 (A)(2) PUBLIC SUPPORT TEST IS DONE ON AN ANNUAL BASIS. PART IV, SECTION A, LINE 3C: ALL SUPPORT PROVIDED BY RIHA TO THE SUPPORTED ORGANIZATION IS EITHER FOR A SPECIFIC SECTION 170(C)(2)(B) PURPOSE, OR ELSE IS USED TO REIMBURSE THE SUPPORTED ORGANIZATION FOR TRACKED ADMINISTRATIVE SERVICES SPECIFICALLY PROVIDED TO RIHA FOR ITS SUPPORTING MISSION. PART IV, SECTION A, LINE 6: RIHA PROVIDED SUPPORT TO A SECTION 501(C)(3) ORGANIZATION FOR THE SPECIFIC PURPOSE OF FURTHERING RESEARCH IN THE HOUSING AND MORTGAGE MARKETS. SEE SCHEDULE I. 1 MORTGAGE BANKERS ASSOCIATION 1919 M STREET NW WASHINGTON DC 20036 361505650 501(C)(6) 125000 0 N/A N/A MBA SCHOOL OF MORTGAGE BANKING'S PATH TO DIVERSITY SCHOLARSHIP PROGRAM JOINT CENTER FOR HOUSING STUDIESHARVARD UNIVERSITY 1 BOW STREET STE 400 CAMBRIDGE MA 02138 042103580 501(C)(3) 10000 0 N/A N/A GRANT / DONATION TO SPONSOR ANNUAL REPORT AMERICAN ENTERPRISE INSTITUTE FOR PUBLIC POLICY RESEARCH 1789 MASSACHUSETTS AVE NW WASHINGTON DC 20036 530218495 501(C)(3) 10000 0 N/A N/A TO SUPPORT THE AEI FINANCIAL MARKETS PROGRAM PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS 1750 MASSACHUETTS AVENUE NW WASHINGTON DC 200361903 521226967 501(C)(3) 10000 0 N/A N/A SPONSORSHIP: GENERAL CONTRIBUTION 3 1 HOUSING SUPPLY STUDY/RESEARCH 1 40000 N/A N/A RESIDENTIAL HOUSING STUDY 1 36000 N/A N/A HOUSING DEMAND & AFFORDABILITY STUDY 1 40000 N/A N/A PART I, LINE 2: THE RIHA BOARD HAS SUPPORTED THROUGH GRANTS A NUMBER OF INSTITUTIONS OR PROGRAMS THAT FURTHER RIHA'S CHIEF PURPOSE TO ENCOURAGE AND AID THE PURSUIT OF KNOWLEDGE OF MORTGAGE MARKETS AND REAL ESTATE FINANCE. MBA STAFF, ACTING ON BEHALF OF RIHA, ARE ACTIVELY INVOLVED IN REVIEWING RESEARCH PRODUCTS THAT ARE SUPPORTED THROUGH THESE GRANTS. ADDIONALLY, GRANT PROPOSALS AND PAST PAYMENTS ARE REVIEWED BY THE BOARD. 0 0 0 0 0 0 0 0 0 MICHAEL C FRATANTONI TRUSTEE-RIHA TRUST ADMIN 0 403335 0 70000 0 23540 0 20700 0 1015 0 518590 0 0 MICHAEL W BRIGGS TRUSTEE-RIHA SECRETARY 0 356520 0 40000 0 540 0 20700 0 18852 0 436612 0 0 LISA J HAYNES TRUSTEE-RIHA TREAS. (UNTIL 10/24) 0 284506 0 50000 0 36899 0 17775 0 26055 0 415235 0 0 EDWARD J SEILER RIHA EXECUTIVE DIRECTOR 0 186751 0 10000 0 432 0 11765 0 33652 0 242600 0 0 SCHEDULE J, LINE 3 ALL PERSONS LISTED IN PART II OF THIS SCHEDULE ARE COMPENSATED BY THE MORTGAGE BANKERS ASSOCIATION (MBA), A SECTION 501(C)(6) ASSOCIATION THAT IS SUPPORTED BY RIHA. PLEASE SEE MBA'S FORM 990 FOR INFORMATION ON COMPENSATION POLICIES AND PROCEDURES. FORM 990, PART VI, SECTION A, LINE 7A THERE ARE THREE TRUSTEES, ALL EMPLOYEES OF THE MORTGAGE BANKERS ASSOCIATION. THEY ARE, BY POSITION: TRUST ADMINISTRATOR: MBA SENIOR VP AND CHIEF ECONOMIST SECRETARY: MBA SENIOR VP AND GENERAL COUNSEL TREASURER: MBA SENIOR VP, CFO, AND CHIEF DIVERSITY & INCLUSION OFFICER FORM 990, PART VI, SECTION A, LINE 7B THE RIGHT TO AMEND THE TRUST AGREEMENT IS RESERVED TO THE BOARD OF DIRECTORS OF THE MORTGAGE BANKERS ASSOCIATION, SUBJECT TO THE REQUIREMENT THAT IT SOLICITS THE ADVICE AND INPUT OF THE TRUST'S BOARD OF TRUSTEES. THE AUTHORITY OF THE MBA BOARD IS SUBJECT TO THE LIMITATIONS THAT ANY SUCH AMENDMENT SHALL NOT IMPAIR THE PRIMARY CHARITABLE, RESEARCH AND EDUCATIONAL PURPOSE OF THE TRUST IN FOSTERING RESEARCH AND EDUCATION IN CONNECTION WITH MORTGAGE BANKING AND RELATED SUBJECTS, AND PROVIDED FURTHER THAT THE ASSOCIATION SHALL NOT BE DESIGNATED AS THE BENEFICIARY OR RECIPIENT OF THE FUNDS OF THE TRUST ESTATE. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE TRUST ADMINISTRATOR AND THE SECRETARY BEFORE IT IS FILED. A COPY OF THE FORM 990 IS THEN PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12 RIHA DOES NOT HAVE A SEPARATE CONFLICT OF INTEREST POLICY, NOR DOES IT HAVE A SEPARATE WHISTLEBLOWER OR RECORD RETENTION POLICIES. THE TRUSTEES AND OFFICERS ARE MBA EMPLOYEES AND AS SUCH ARE BOUND BY THE MBA EMPLOYEE CODE OF CONDUCT AND EMPLOYEE HANDBOOK, WHICH DEALS WITH CONFLICTS OF INTEREST, WHISTLEBLOWER PROTECTIONS AND RECORD RETENTION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE NOT GENERALLY MADE AVAILABLE TO THE GENERAL PUBLIC, BUT IF REQUESTS FOR COPIES OF THESE DOCUMENTS WERE TO BE RECEIVED, THE ORGANIZATION WOULD CONSIDER MAKING THEM AVAILABLE TO THE REQUESTOR. MORTGAGE BANKERS ASSOCIATION 1919 M STREET NW 5TH FL WASHINGTON DC 20036 361505650 REPRESENT THE LEGISLATIVE AND REGULATORY INTERESTS OF THE FINANCE INDUSTRY. IL 501(C)(6) 0 MORTGAGE INDUSTRY STANDARDS MAINTENANCE ORGANIZATION INC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 510502943 DEVELOPING, PROMOTING AND MAINTAINING VOLUNTARY ELECTRONIC COMMERCE STDS DE 501(C)(6) MORTGAGE BANKERS ASSN 0 MORTGAGE ACTION ALLIANCE INC 1919 M STREET NW 5TH FL WASHINGTON DC 20036 271893100 SUPPORT COMMON BUSINESS INTERESTS OF REAL ESTATE FINANCE INDUSTRY DE 501(C)(6) MORTGAGE BANKERS ASSN 0 MBA OPENS DOORS FOUNDATION 1919 M STREET NW 5TH FL WASHINGTON DC 20036 320355086 SPONSORS PHILANTHROPIC ACTIVITIES FOCUSED ON HOME OWNERSHIP DE 501(C)(3) LINE 7 MORTGAGE BANKERS ASSN 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 MORTGAGE BANKERS ASSOCIATION B 125000 CASH