Mortgage Bankers Association

Posted in Finance, Accounting and Economics Terms, Total Reads: 289
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Definition: Mortgage Bankers Association

The Mortgage Bankers Association (MBA) is a national association which represents the real estate finance industry. It is headquartered in Washington D.C with members ranging from underwriters, servicers to IT professionals in various mortgage companies in the residential and commercial regions. It has a membership base of 2, 200 which was 3, 000 before the recession in 2008.


There are two different positions in mortgaging:

1. Mortgage Banker: An organization which provides funds in their own name

2. Mortgage Broker: An individual or organization who acts as a mediator between the mortgage banker and the borrower. This facilitation helps the broker earn a fee

MBA is a type of Mortgage Banker.


Features:

• MBA helps their members to operate their business in single and multi- family mortgage areas by promotion of fair lending practices

• Conducts regular conferences for members to understand the importance of ethical finance and mortgage

• MBA offers training and education programs to create mortgage professionals. There are various certifications offered by CampusMBA, their education division

• MBA Publications:

a. MBA Banking is a monthly magazine which contains various articles written by the employees or professionals related to mortgage

b. Forecasts and reports on the future trends in the real estate industry. This includes economic forecasting and analysis of all real estate business areas

c. Commercial surveys to forecast the multi-family real estate industry and how an individual can develop business in this area

• MBA Opens doors foundation: the MBA sponsors some philanthropic activities like providing mortgage and rental help in the form of grants to families in need

 

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