Capital Direct Insurance Benefit Info

VISION FOR THE FUTURE In the ever-changing fast paced environment of mortgage lending IMB embraces the future of the Mortgage Broker. The value they bring to the Borrower by helping them navigate the process of owning a piece of the American Dream is vital. The increased market presence, collective bargaining and quality assurances, that create economies of scale through the strategic alliance of IMB ultimately serves the Mortgage Broker, Preferred Lender and the Borrower.

MEMBER SELECTION IMB focuses its recruiting on the top quartile of brokers from a quality perspective. It is an exclusive group, and the key to membership is quality of originations, ethics and reputation. Prospective members are carefully screened. IMB has a “zero tolerance” fraud policy. Membership and support of industry trade association by prospective members is also an important selection criteria.

VALUE TO MORTGAGE BROKER IMB’s core values revolve around the importance of the Mortgage Broker in the delivery system of mortgages to Borrowers. At a time when Brokers are feeling overwhelmed with the responsibilities of running a business in an environment of change and unknown it is especially gratifying to know that IMB addresses many of those concerns. By representing the production and needs of a pooled group of Brokers, economies of scale can be achieved through collective bargaining on a number of issues. This translates into stronger market presence, increased profitability and stabilizes future business success. Independent Mortgage Brokers Alliance was created specifically for the purpose of amassing large pools of loans. Based upon current production levels, even modest participation by less than 20% of mortgage brokerage companies in Washington State alone has the ability to generate monthly pools of $30 million or more. With minimum securitization thresholds of roughly $20 million, these pools are instantly securitizable and an irresistible target for wholesale lenders eager to maintain or increase market share. The benefit to IMB-aligned brokers is the realization of a significantly improved pricing structure for delivering their loans into the secondary market as brokers finally apply the well established business principal of horizontal cooperation, (or “cooping,”) to their industry. Since typical broker customers are more price sensitive than borrowers as a whole, IMB-aligned Brokers will enjoy a competitive advantage over their nonaligned counterparts in-so-far as it relates to price competition.

VALUE TO BORROWER IMB understands that commitment to quality and service is the key to securing and increasing a loyal client base. By stabilizing the Brokers presence in the community this contributes to the quality of service, quality of products and competitive prices all adding to the enhanced value for the Borrower. The IMB symbol assures the Borrower of a quality set of standards adhered to by all member brokers reducing the stress traditionally accompanied with the mortgage loan process.

VALUE TO PREFERRED LENDERS IMB’s Preferred Lenders will benefit from the value that results from the economies of scale they can establish through increased loan volumes in a secure and predictable environment. Additionally, quality control is enhanced as a result of IMB’s Brokers vested interest in the success of the strategic alliance. The attitude of many Mortgage Brokerage companies today is reflected in the phrase “I want to be left alone but I don’t want to be alone.” The mortgage industry has exploded with change during the last decade. From the failure of the Savings and Loan’s, the proliferation of loan products, costs and regulations. During this change one significant event stands out. This is the role of and added value the Mortgage Broker has brought to the industry and the borrower. Today Mortgage Brokers are responsible for more than 50% of the mortgage originations in the United States. Independent Mortgage Brokers Alliance, “IMB,” is the logical step in this evolution of change. IMB’s purpose is to achieve greater efficiencies in pricing, service, quality control and market presence thereby adding value to the Mortgage Brokers and Preferred Lenders. IMB is committed to fostering the highest levels of Mortgage Industry Quality. Functioning as a cooperative for the mortgage industry, IMB will facilitate the delivery of quality services and loans amongst its members, lenders and third party service providers. While IMB does not have direct consumer contact, and will never be a party to a transaction, its ultimate goal is meeting or exceeding consumer requirements for cost effective loan products. A basic tenet of IMB is, that “Quality is good for business.”