WASHINGTON The Mortgage Bankers Association announced Wednesday that it will begin offering discounted memberships to small mortgage broker companies that are members of the National Association of Mortgage Brokers.
The new $125-a-year interim memberships will be valid for two years, after which members will be asked to pay regular dues. They are available to NAMB professional and affiliate member companies in good standing whose total mortgage originations are less than $25 million a year.
Membership perks include a one-year subscription to Real Estate Finance Today, the associations weekly newspaper, and discounts on all MBA products and services, including conferences and seminars.
The Mortgage Bankers Association is trying to diversify its membership, a spokeswoman said. Including small mortgage brokers and large banking firms, she said, will help it become an industry association as opposed to a trade association.