MBA of Alabama Membership Application

Due Diligence & Letters of Recommendation

New Membership applicants are subject to additional due diligence including but not limited to a check of Federal, State, Local and Regulatory watch-lists, etc. New Membership Applications will be submitted for approval to the Executive Officers and the Board of Directors. Application must be submitted with two (2) letters of recommendation, one (1) from a Regular Member and one (1) from an affiliate member of the Mortgage Bankers Association of Alabama, Inc.

DUES STRUCTURE

Regular Members: Category 1 Businesses that are engaged in the mortgage banking business in the State of Alabama are eligible to be a Regular Member. This includes businesses that are engaged in any substantial amount of real estate mortgage loan origination, closings, servicing or investing in mortgage loans or other types of real estate finance are eligible to be a Regular Member. Mortgage Banking Firms, Commercial Banks, Savings and Loan Associations and Mortgage Brokerage Firms shall pay base dues of * $500.00. This membership includes all employees of the Member Company.


Affiliate Members: Category 2 Businesses that are not eligible to be Regular Members but which benefit directly from activity associated with the origination, closing, servicing or investment in real estate mortgage loans in Alabama are eligible to be an Associate Member. Associate Members may include, but are not limited to, private mortgage insurance companies, attorneys, appraisers, life insurance companies, credit bureaus, investment banking firms, title insurance companies, law firms, accounting firms, engineering firms, architectural firms, consultants and other service providers shall pay annual dues of * $350.00. This membership includes all employees of the Member Company.


Individual Members: Category 3 If a person is a full-time employee of a business that is engaged in any substantial amount of real estate mortgage loan origination, closings, servicing or investing in mortgage loans or other types of real estate finance and their company will not commit to a membership, they are eligible to become an individual member at a reduced membership fee, which will be set by the Board of Directors. * $175.00 (this membership includes only the member listed on the application).


* Membership dues are valid from June 1st each year to May 31st of the following year. When completing a new application, dues will be prorated. (Call the MBAA office in Montgomery for details (334) 260-8197) .

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