Honoring Former MBA Chairman Herbert B. Tasker, CMB
(Photos courtesy of the Tasker Family via Herbert B. Tasker’s obituary)
Former MBA Chairman Herbert B. Tasker, CMB, passed away on January 30, 2026. The Mortgage Bankers Association and his many friends and colleagues remember him fondly.
According to his obituary, Herbert “Herbie” Tasker passed away at age 89, surrounded by family in Butte, Montana.
Mr. Tasker led several prominent mortgage banking firms during his career, including Mason-McDuffie, Inland Mortgage and All Pacific Mortgage. He also served as president of MBA in 1993. (Prior to 2002 the MBA chairman position was referred to as president.)
Tasker’s son, Treak Tasker, CMB, president of HM Capital in Tulsa, Okla., said his father encouraged him to pursue a career in commercial mortgage banking when he finished college, “and he encouraged me to always look for ownership opportunities so I could have greater control over my own future.”
“What inspired me most about my dad and his career was the way people spoke about him over the years–former partners, employees, and industry colleagues alike,” Treak Tasker said. “They all shared how much they valued their association with him, describing him as a great leader, motivator, and mentor, but–most importantly–a true friend, no matter where they were in their own careers. He was a compassionate man who deeply cherished his colleagues, his friends, and his family.”
Former MBA Chairman Rodrigo López, CMB, chairman of AmeriSphere Cos., said Herb Tasker personified leadership, mentoring, and kindness. “And let’s not forget his wonderful spouse, Bourke, who graced MBA events with him for decades,” López added.
“Herb had a gift for simplifying complex ideas and adding humor to win people over to MBA’s efforts,” López said. “He called MORPAC the ‘sizzle’ of MBA, which definitely helped rally support for our legislative advocacy.”
López said he and his wife, Mary, remember the warm welcome they received from Herb and Bourke when they first became involved with the MBA. “The industry, his friends, and especially his family have lost a true gem,” he added.
Daniel Phelan, CMB, CRI, CCMS, retired CEO of Pacific Southwest Realty Services, noted that Tasker’s generation stressed participation and involvement. “Back in the 1980s and 1990s, all of our spouses would attend meetings,” he said. “And all of the commercial people and all the residential people all went to the same meetings. So we got to know each other really well. We worked together on industry issues. And it was that collaboration that got a lot of things done early on.”
Phelan said he visited Herb and Bourke last year in Montana. “And before we knew it, hours had passed. It was just unbelievable. Looking back, I’m so glad I stopped in. I’m so glad that our connection was such a great one that we that we could just sit and chat for hours,” he said.
In an article that Janet Reilley Hewitt wrote for MBA’s Mortgage Banking magazine in 1992, Felix Beck, then chairman and CEO of Margaretten Financial Corp., said he had spent most of his life trying to hire Tasker. “[He is] a natural salesman, a straight talker, someone you can trust, a person with the courage of his convictions, someone with a broad understanding of the business, and someone who not only says what he believes, but can say it effectively,” Beck told the magazine. [Mr. Beck passed away in 2019.]
In that Mortgage Banking article, Tasker said his management philosophy includes three key components. “Build a team that has the highest integrity and credibility. That impacts everything you do.” Next, give your team a tangible and long-lasting reason to stay by giving them an opportunity to own part of what they’re doing. “Third, give your fellow owner/managers freedom to manage.”
“There’s a great deal of insecurity in the mortgage business, so that people tend to take jobs hoping the company will survive, only to find out they’ve worked for eight or nine years to have the company go out of business. So one of the things that has attracted people to us is that not only can they own part of what they’re doing, but they can have a real say in the direction of where we’re going,” Tasker told the magazine.
Steven Plaisance, CMB, president, mortgage banking at Gateway First Bank, noted that as a young mortgage banker in the 1990s, names such as Herb Tasker were “legendary.”
“Then, when I finally had a chance to meet him and hear him speak, you understood how special our industry is and how it truly is the people that make things happen and make a difference,” Plaisance said.
Pete Mills, senior vice president of residential policy and strategic industry engagement with the Mortgage Bankers Association, called Tasker “a legend” and noted he grew up in the Mason-McDuffie Mortgage area. “Herb was part of my introduction to mortgage banking, and independent mortgage bankers, in particular,” Mills said. “He was active in the leadership of both the California MBA and MBA when I joined CMBA in 1991. He was the consummate independent mortgage banker–a sharp and driven businessman, but always willing to take the time to help me understand the industry better.”
Cheryl Malloy, who served as a senior vice president at MBA during Mr. Tasker’s tenure in MBA leadership, said she loved his enthusiasm. “Herb was a terrific president, well-respected by his colleagues, but always found the time and opportunity to enjoy his time in office,” she said. “He encouraged both women and young people to get more involved in the leadership at MBA and helped them along the way. Bringing those from the asset management side of the business into more prominence in MBA was also important to him.”
Malloy noted that Tasker founded several mortgage companies, built them up and sold them in order to start a new one. “His entrepreneurial spirit was an inspiration to many. Herb will surely be missed,” she added.
Gail Cardwell also served as a senior vice president at MBA during Tasker’s tenure as president. “I am so saddened to hear the news of Herb Tasker’s death,” she said. “My heart goes out to his wife Bourke, his son Treak and Herb’s entire family. Herb always made an effort to not only be inclusive of the commercial/multifamily side of the business but was dedicated to learning their issues.”
Cardwell called Mr. Tasker a strong advocate for the mortgage banking industry and the real estate finance industry in its entirety. “He loved MBA and always promoted membership in the organization,” she said. “His smile and laughter were contagious. I really loved spending time with him and his family. He will be sorely missed.”
Pat Greenwell remembered that she worked with Tasker and all the MBA officers during that time. “I found him to be forward thinking for the mortgage banking industry, and he was always willing to share his ideas with the leadership,” she said. “I always looked forward to hearing from Herb and having a good chuckle with him.”
Former MBA Senior Vice President Steve O’Connor said he also worked closely with Tasker for years. O’Connor called Tasker “a pillar” among MBA’s former officers, “and someone who was always very gracious to the staff.”
“I have many fond memories of him,” O’Connor added.
The Tasker family noted that anyone wishing to honor Mr. Tasker’s memory may do so by sharing a story, offering a prayer or donating to a charity of their choice.
