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The MBA and the Independent Mortgage Banker

David Lykken
Dec 29, 2015

On the Dec. 14 episode of my Lykken on Lending Internet radio show, we had the opportunity to interview David H. Stevens, president of the Mortgage Bankers Association (MBA). Specifically, we discussed with David how the MBA serves independent mortgage bankers in the mortgage industry. So, naturally, the first question we posed to him was, "What percentage of members in the MBA are independent mortgage bankers?"

According to David, the MBA has roughly 2,500 members—80 percent of which are classified as "community lenders." This group encompasses independents, credit unions, community banks, and other small groups. So, the majority of the members are smaller organizations. However, 30 percent of that total 2,500 is strictly independent mortgage bankers. According to David, that membership is larger than any other organization representing independent mortgage bankers.

The reason that independent mortgage bankers have become such a key component in the MBA is that they are specialists in the industry. As David explained in the interview, other mortgage organizations are often categorized more generally as financial institutions. They are banks, they may offer credit cards, they may finance auto loans or other consumer goods—they don't deal exclusively in mortgages. Independent mortgage lenders, though, are able to focus all of their attention on mortgages.

As such, independent mortgage bankers have become a critical component representing the interests of the industry. According to David, IMBs are more important than ever—and their importance is continually growing.



David Lykken, a 43-year veteran of the mortgage industry, is president of Transformational Mortgage Solutions (TMS), a management consulting firm that provides transformative business strategies to owners and “C-Level” executives via consulting, executive coaching and various communications strategies. He is a frequent guest on FOX Business News and hosts his own weekly podcast called “Lykken On Lending” heard Monday’s at 1:00 p.m. ET at LykkenOnLending.com. David’s phone number is (512) 759-0999 and his e-mail is David@TMS-Advisors.com.