At that meeting it was decided to form such a chapter. The first officers elected were: President – Herbert O. Frey, The Pennsylvania Company; Vice President – William A. Clarke, W.A. Clarke Mortgage Company; Treasurer – John J. Harrington, Beneficial Savings Fund Society, and Secretary – John A. Thomas, Thomas and Groshon Mortgage Company.
Since that time the association’s membership has grown from thirty-five firms to approximately ninety firms and their branches, engaged in all phases of mortgage lending, title insurance, mortgage insurance, legal, accounting, credit, appraisal, and other related services essential to the mortgage banking industry.

The association has been constantly active in cooperation with the Departments of Housing and Urban Development and Veterans Affairs, the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Through frequent contacts and meetings of the various Mortgage Bankers Association committees with agency personnel, better understanding of mutual concerns and more efficient implementation of government policies and programs have been achieved.

The scope of the various committees within the association is extensive; for example, finance encompasses audit and budget, education, ethics and standards, executive, residential real estate finance, commercial real estate finance, loan administration, social, legislative, loan administration, membership, nominating, political action, public relations, and technology. They have worked long and hard to improve the standards of the industry and to promote better state and local housing legislation. To keep the association abreast of pending legislation affecting the industry, a lobbyist was appointed to serve in Harrisburg in 1982. In 1986 the board decided to retain an attorney to assist the association with regulatory and legal matters. Consequently, the legislative committee made a significant contribution towards the passage of the Mortgage Bankers and Brokers Licensing Act in December 1989 and amendments thereto in 1999 and 2001.

In 1985, as the scope of the association’s activities and the location of its members’ territories expanded geographically beyond the borders of Philadelphia, the membership voted to change the name of the association from the Philadelphia Mortgage Bankers Association to the Pennsylvania Mortgage Bankers Association.

Major events sponsored by the Pennsylvania Mortgage Bankers Association were the 25th Anniversary of the formation of the Federal National Mortgage Association in 1963 and the National Convention of the Mortgage Bankers Association of America held in Philadelphia for the first time in 1966. In 1985 the first woman was elected an officer and governor and the association became incorporated as a non-profit corporation within the Commonwealth of Pennsylvania. In 1990 the membership voted to hire an Executive Director to manage the affairs of the association’s office.

To honor an outstanding member each year, a Pennsylvania Mortgage Bankers Association Person of the Year award was established in 1986, and a suitable trophy is awarded to those selected.

Educational activities for members were sponsored and encouraged from the inception of the association. Seminars on all facets of the business are held regularly. Area wide conferences in conjunction with government housing agencies have been strongly supported. A ten week evening school for members has been successfully conducted since 1966 and was granted accreditation toward the Certified Mortgage Banker designation. An advanced curriculum course is added from time to time. The annual Holiday Party and the Golf Outing bring out large and enthusiastic attendance by members every year. The Home Ownership was established in 1994 to educate members on the importance of treating all segments of the community equally when evaluating credit applications.

On January 1, 1994, the PMBA joined with its colleagues in Harrisburg and Pittsburgh to form the Mortgage Bankers Association of Pennsylvania. Because of the similarity of names, the members of the PMBA voted to change the name of their association to the Mortgage Bankers Association of Greater Philadelphia. With the political lobbying and legal regulatory matters under the purview of this unified state-wide association, mortgage lenders throughout the commonwealth will have a stronger voice in Harrisburg. The new association conducts an Annual Keystone Conference, bringing together mortgage lenders from throughout the state.

In 2002 the MBA of Pennsylvania began providing approved continuing education courses to fulfill the new Department of Banking requirement for mortgage bankers' and brokers' yearly license renewal and the MBA of GP Education Committee sponsors these courses locally several times each year.

The association and its membership have grown and adapted to the numerous changes of the past sixty-five years. The challenges of numerous government sponsored housing programs and regulatory as well as legislative changes were successfully and in most cases enthusiastically implemented. No doubt, the next decades will offer their share of problems and surprises. An association which has demonstrated such resiliency during its past sixty-five years will continue to meet the changing needs of its membership.