The Mortgage Bankers Association lost $8.6 million in the fiscal year that ended Sept. 30 as the industry crisis took its toll on the trade group's members.

The MBA's revenue fell 31%, to $39.4 million, according to an annual filing the group made this month with the Internal Revenue Service. Dues and assessments fell 20%, to $11.1 million.

For the previous fiscal year the MBA generated a $6.7 million surplus.

The trade group expects to take another loss in the current fiscal year and return to the black the following year, said Cheryl Crispen, a spokeswoman.

The MBA's board has just approved its fiscal 2010 budget and it projects a "balanced, slightly positive" budget, Crispen said.

In June of last year the MBA moved into its newly constructed Washington headquarters, listed as a $98.6 million asset on the IRS report.

The trade group planned to lease out 60% of the building but reported no rental income in the filing.

Crispen said the MBA has leased some of the space and there is "substantial interest" in the remaining office and retail space.

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