MEMBERSHIP CATEGORIES
Membership in the Florida Association of Mortgage Brokers is held by individuals only. Company memberships are not available at the present time.
Professional Membership - One annual payment of $195, Renewal $195
Individuals licensed as a mortgage broker by the State of Florida and individuals owning 25% or more of either a State of Florida correspondent Mortgage Lender Licensee or a Mortgage Lender Licensee may apply for Professional Membership. Licensed brokers must attach a copy of their broker’s license to the application. Lender licensees must furnish a statement certifying ownership in the licensee.Professional members should be actively engaged in the business of brokering, originating or funding mortgages. This membership may not be transferred to another individual.
Additional Professional Membership - One annual payment of $195, Renewal $195
An individual licensed as a mortgage broker by the State of Florida, or an individual who owns 25% or more interest in a Florida Lender Licensee may apply. To qualify the applicant must work with a member holding professional membership. All other conditions of professional membership apply.
Originator Membership- One annual payment of $195, Renewal $195
Anyone whose primary job is that of “loan originator” may apply for membership. This person must be working for a State of Florida correspondent lender or mortgage lender and is not licensed as a Florida mortgage broker. When originators use the logo of the association, the logo must contain the word “Originator.” This membership may not be transferred to another individual.
Affiliate Membership - One annual payment of $195, Renewal $195
Anyone that works for a support company may apply for Affiliate Membership. If the designated affiliate member leaves the employ of the institution or is otherwise removed, he or she may apply for individual membership and the institution may designate a replacement. When affiliates use the logo of the Association, the logo must contain the word “Affiliate.
Supporter Membership
$195, Renewal $195
Any individual desiring membership for the purpose of supporting FAMB and attending FAMB functions at member prices, may join under this category.
DUES DEDUCTIBILITY – TAX DEDUCTION NOTICE FOR 2008 TAXES
The Omnibus Reconciliation Act of 1993 allows only a portion of the dues you pay to the Florida Association of Mortgage Brokers and the National Association of Mortgage Brokers to be deductible as an “ordinary and necessary” business expense.
FAMB has determined that 20% of your 2008 FAMB dues are not deductible because of FAMB’s lobbying activities on behalf of its members. Renewing Professionals, Originators and Affiliates dues are $275 and Supporter renewals are $190. Renewing Additional Professionals, Additional Originators and Additional Affiliates dues are $215.
NAMB has determined that 27% of their 2008 dues are not deductible because of NAMB’s lobbying activities on behalf of its members. From your total dues we pay NAMB the following: Professional and Additional Professional dues - $120 annually; Originator and Additional Originator dues - $95 annually; Affiliate and Additional Affiliate dues - $95 annually; and Associate dues - $45 annually.
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