The Mortgage Bankers Association announced two promotions Monday as part of an organizational realignment plan.

Marcia M. Davies has been named Chief Operating Officer and Peter J. Grace has been promoted to Senior Vice President of Strategy and Member Services, the MBA said in a press release.

Davies previously was MBA's Chief of Staff and Senior Vice President of External Relations. The group said she will continue to lead external relations but will also assume "a consolidated operational portfolio" and responsibility "for ensuring alignment on MBA's top organizational priorities."

Prior to joining MBA in 2011, Davies worked at the U.S. Department of Housing and Urban Development and before that spent 21 years at Freddie Mac.

Grace joined the MBA in 2012 as Vice President of Strategy and Internal Technology and Chief Information Officer. Going forward, he will also oversee MBA's Member Services department, which includes education content development, design and delivery. He will report to Davies. Grace's previous experience was at HUD, the New York City Department of Housing Preservation and Development, and Accenture.

Davies' "leadership and organizational effectiveness will strengthen operations and bring an overall enhanced member experience to the services we provide," David Stevens, MBA's chief executive, said in the press release. He said Grace "has proven skills to manage cross-functional teams that provide exceptional customer service."

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