Pennsylvania Association of Mortgage Brokers (PAMB)

The Pennsylvania Association of Mortgage Brokers [“PAMB”] was incorporated in Pennsylvania in 1989.  At this time, Act 90 of 1989 [“Mortgage Bankers and Brokers Act”] was being considered by Pennsylvania’s legislature and effected parties.  Act 90 was the first legislation to require licensing of various entities that initiate, negotiate, place or close residential mortgage loans for Pennsylvania consumers.  While other lender groups were meeting to review implications of the Act, preparing to provide feedback to the Department of Banking, the mortgage brokers, with no formal association and no leadership, had not been engaged in this process.