Fact Sheet

Founded:  1993 by local mortgage professionals

Business Classification:  Non-Profit

Location:  4700 S. Lindbergh Blvd., St. Louis, MO 63126

Contact Info:  Office phone:  314-909-9747 Fax:  314-909-9748 Email: information@mamb.net

Website:  http://www.mamb.net

Membership:  Approximately 250

Staff:  1  Executive Director: Lisa C. Kelam  

Board of Directors:  President: Mark Delhougne, President-Elect: Gary Lange, CRMS, Vice President: Dennis Tate, Secretary: Wendy Cromer, Treasurer: Mark Osborne, Past President: Kerry Barban

Mission Statement: The MAMB is a non-profit organization of more than 250 mortgage brokers and professional affiliate members founded to protect the interest of the consumers and the mortgage broker industry by advocating, regulating and certifying the highest standards in professionalism, ethics and education. Members of the Missouri Association of Mortgage Brokers pledge to abide by the state and federal laws, association bylaws, and national code of ethics to ensure professional interaction with customers.  The MAMB continues to support legislation making licensing and education for all loan originators mandatory for the State of Missouri.

Regulated by:  The Missouri Division of Finance regulates Mortgage Brokers in the state of Missouri.

Affiliate Member of:  Missouri Association of Mortgage Brokers is an affiliate member of the National Association of Mortgage Brokers. Established in 1972, the National Association of Mortgage Brokers (NAMB) is the only national trade association representing the mortgage broker industry. With 48 state affiliates, and more than 24,000 members, NAMB promotes the industry through programs and services such as education, professional certification and government affairs representation. NAMB members subscribe to a code of ethics and best lending practices that foster integrity, professionalism and confidentiality.

Mortgage Broker Definition:  A mortgage broker is an independent real estate financing professional who specializes in the organization of residential and/or commercial mortgages. A mortgage broker is also an independent contractor who markets and originates loans offered by multiple wholesale lenders.

• A mortgage broker provides the consumer an expert mentor through the complex mortgage origination process. Mortgage brokers have helped many low to moderate-income borrowers with less than perfect credit histories enjoy the benefits of homeownership.  Mortgage brokers originate more mortgages than any other single loan source group in this nation.
• By offering superior market expertise and direct access to many different loan programs, a mortgage broker provides the consumer the most efficient and cost-effective method of obtaining a mortgage that fits the consumer's financial goals and circumstances. A mortgage broker works, on average, with 40 wholesale lenders at any one time.
• The mortgage brokerage industry plays a significant role in the mortgage lending process and the American economy by increasing competition and driving down costs. Mortgage brokers originate more mortgages than any other single loan source.
• Mortgage brokers originate more than 65% of all home loans in the United States. In fact, there are more than 44,000 mortgage brokerage companies around the country, which employ more than 360,000 people.