History of MBAA, Inc.
"At 2:30 o'clock on February 18, 1929 there was held, in the office of Jemison & Company, a meeting of the Birmingham members of the Mortgage Bankers Association of America..." so states the minutes from the first associational meeting of the Alabama mortgage bankers. At this meeting, a local chapter, Associated Mortgage Bankers of Birmingham, was formed. The official Declaration of Incorporation was dated April 16, 1930.
Officers elected by acclamation were A. B. Tanner, president; J. Hudson Barker, vice president, and W. V. M. Robertson, Jr., secretary-treasurer. Among those present at this first meeting were Langston McCalley, W. D. Lindsay, H. Paul Gourley, J Hudson Barker and Ervin Jackson.
The constitution listed objectives of the Association as:
- to promote a closer understanding among members
- to encourage home ownership
- to establish uniform and equitable rates on investments and loans
- to form a local chapter of the Mortgage Bankers Association of America
Dues for the new professional organization were set at $10.
The group experienced steady growth and began to include other members in the state.
The Mortgage Bankers Association of Alabama became a reality on November 23, 1970 when the parent group decided to change its name to reflect a statewide focus.
"Motion was made to adopt a new constitution" and began operating as the Alabama Chapter in January of 1971. C. Molton Williams was president or the group and Henry Drake was secretary at the time of the name change.
Among the members were Phillip C. Jackson, Sr. and John C. Hall, Sr., both of Birmingham, who later became presidents of the Mortgage Bankers Association of America. Ronnie J. Wynn, CMB, of Montgomery, was also a national president.
Among members at the November 23rd meeting were Charlie Speir, John Moore, Howard Posey, Manuel Mendel, Tommy Tillman, Travis McGowen, John Johnson, Walter Kennedy, A. S. Williams, III, and Jim Ratliff.
In September of 1994 the Alabama Mortgage Loan Administration Group merged with the Mortgage Bankers Association of Alabama. As a result of this merger, over twenty new member firms were provided with membership in the MBA of Alabama. This event also provided significant recognition of the loan servicing area and the professionals that represent the loan administration area.