Membership Questions & Answers
Who are members of the IMBA?
There are approximately 110 member companies across the state. Within this membership there are mortgage banks, commercial banks, savings and loans, mortgage brokers, private mortgage insurance companies, credit unions, title companies, credit service providers, appraisers, flood companies, attorneys and nonprofit housing agencies.
Where is IMBA?
IMBA has seven active chapters throughout the state including the Greater Indianapolis, Merrillville, South Bend, Fort Wayne, Bloomington, Evansville and Terre Haute. Membership is at the state level, but members can attend chapter events anywhere in the state.
Are there many meetings and events?
At the state level IMBA has at least one event per quarter, and each event includes educational and networking opportunities. These statewide events include the Annual Convention, Production Conference, Compliance Seminar and Technology Conference.
We also offer a Future Leaders Class two times each year. This program is designed for employees who are new to the industry and provides a comprehensive education into the basics of the mortgage lending history and process.
Each chapter also has regularly scheduled meetings that include education, market updates, networking, philanthropy and fun.
My company already belongs to the Indiana Bankers Association. Why should we also belong to the IMBA?
IBA is an excellent organization that represents the interests of its banking members. However, IMBA is focused solely on mortgage banking needs and issues. The IBA works with and looks to IMBA for expertise, representation, and lobbying with Indiana legislators and regulators.
Outside of meetings, how am I kept informed as to what is going on in the mortgage lending industry?
IMBA has a quarterly newsletter and members also receive updates on state and federal legislative and regulatory issues, industry news and events, national MBA issues/actions, training opportunities and what is going on in other parts of the state.
How have IMBA’s lobbying efforts helped me and my business recently?
IMBA has been successful in stopping recently proposed legislation that would have reduced lending opportunities in the state of Indiana, including legislation that would have placed additional burdens on lenders for property taxes on newly constructed homes. We also supported legislation that increases the regulation and oversight of foreclosure consultants outside of depository institutions.
What’s involved in the membership process?
Membership applications are presented to the Board of Directors for consideration and approval at their monthly meeting. To be considered, potential members need to submit a completed application and dues payment.