What Is the Mortgage Bankers Association (MBA)?
The Mortgage Bankers Association (MBA) is the national association that represents the real estate finance industry. It is a member-based nonprofit organization. The national MBA is headquartered in Washington D.C., though it works closely in collaboration with local and state mortgage bankers associations around the country.
- The Mortgage Bankers Association (MBA) represents the real estate finance industry.
- The MBA helps its members conduct business financing single and multifamily home mortgages.
- The MBA offers educational programs, and provides news and information, and holds to both its conferences for members, offering professional development and networking opportunities.
Understanding the Mortgage Bankers Association (MBA)
The Mortgage Bankers Association works to help its members conduct business financing single and multifamily home mortgages. Toward this end, the MBA works to promote fair and ethical lending practices, offers educational programs and publications, and provides news and information to both its members and potential homebuyers. The association also holds conferences for members, offering professional development and networking opportunities.
Mortgage lenders came under intense scrutiny in the wake of the 2007-2008 mortgage crisis. Since then, new regulations such as the Mortgage Reform and Anti-Predatory Lending Act, as well as the Truth in Lending Act ushered in stricter regulations to the real estate financing industry.
In the wake of the mortgage crisis, many consumers and investors felt uneasy about seeking out mortgages or continuing to use them as investment vehicles. The MBA worked to combat this sentiment with advocacy for the industry and the professionals that the association represents.
Mortgage Banker vs. Mortgage Broker
A mortgage banker is an institution or individual who closes and funds mortgage loans in their own name. Mortgage bankers differ from mortgage brokers, who facilitate a mortgage transaction between a mortgage banker and a borrower for a fee.
The MBA represents mortgage bankers. The National Association of Mortgage Brokers (NAMB) represents mortgage brokers. Mortgage bankers need to operate in accordance with all laws governing ethical lending, such as the Truth in Lending Act.
The MBA’s most recent advocacy campaign uses the motto, “We Believe." This campaign targets potential homebuyers, professionals within the real estate finance industry, and key stakeholders. This campaign emphasizes that “It’s a great time to own a home” and that the mortgage industry is more transparent and safe for investors than ever before.
How Do You Join the MBA?
There are three different memberships—one for regular members (e.g. lenders, servicers, investors), associate members (e.g. vendors), and other members (e.g. nonprofits). There's an application for each level. The regular membership is for firms that originate, service, or invest residential and/or commercial/multifamily mortgages.
What Does the MBA Membership Include?
MBA members get access to web-based self-study courses, online education webinars, key economic data for all 50 states, and other key industry data.
What Is the MBA’s Mortgage Purchase Application Index?
The MBA's Weekly Applications Survey is a weekly analysis of mortgage application activity. The survey first started in 1990 and serves as an indicator of housing and mortgage market activity.