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Illinois Mortgage Bankers Association |
Illinois Mortgage Bankers Association (IMBA) represent the real estate industry in the state. The association has been serving the commercial as well as residential mortgage community for more than eight decades. The members of the IMBA have always worked to promote fair and honorable lending services to the borrowers and home buyers of the state. With the help of a variety of educational programs, the association prepares its members to offer better and more reliable services to help borrowers fulfill their dream of owning a home. Mortgage Bankers Association of Illinois also invite individuals related with mortgage business to join them as their members.
Mortgage Bankers Association of Illinois: Its Members
IL Mortgage Bankers Association membership is comprised of those agencies and companies whose business revolve around the mortgage industry. It is made up professionals related to state banks, federally chartered banks, mortgage bankers and those offering their services to the home loan lenders. Since its establishment, there has been a drastic change in the legislative, competitive and technological aspects of the association. However, the initial commitment of the association to safeguard and promote the interests and welfare of its members has not changed at all. Illinois Association of Mortgage Bankers is also divided into a number of committees and some of them are listed below.
- IMBA Affordable Housing Committee
- IMBA Income Property Lending Committee
- IMBAPAC Political Action Committee
- IMBA Legislative Committee
- IMBA Membership Committee
- Central Illinois Committee
- Programs and Networking Committee
- IMBA Risk Management Committee
- Sales And Marketing Committee
Each committee has its specific functions and they fully adheres to the norms and conditions set by the association. IMBA also organize a monthly meeting of all these committees where several things are being discussed. The association also has good relationship with the housing authority and real estate commission of Illinois. According to Illinois Mortgage Bankers Association, mortgage bankers are responsible for financing most of the real estate transactions in the state.
IL Mortgage Bankers Association: Code of Ethics |
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As per the Code of Ethics set by the IL mortgage bankers association, mortgage bankers should recognize their obligations as financing professionals and remain updated with the latest information on economic and financial conditions. They are required to provide equal standards of financing services without regard to color, creed and race. The association requires them to maintain high standards of compensation for their services. Moreover, the mortgage bankers of the association should also do whatever they can to insure the borrowers with insurance coverage for their mortgaged properties. They assist the borrowers to obtain affordable mortgage insurance programs from reputable insurance companies.
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