Virginia Mortgage Lenders Association

VMLA Membership

The Virginia Mortgage Lenders Association (formerly known as the Virginia Mortgage Bankers Association) has two membership classifications available. These are Regular/Associate Member and Individual Member. A detailed description of each is on the membership application.

Current state dues for Regular Member and Associate member firms are $695 per year.
Additional Branch offices are $50 each, to cover the extra costs of communications. (The first office is included in dues; do not pay this fee for the one office designated as the “main” office).
Individual Member state dues are $195 per year. Additional individual membership dues for each person associated with the main individual member are $50 per year.
A mortgage company must be a member of VMLA before it can join a local chapter. As a convenience, VMLA collects Chapters’ dues and forwards them monthly.

Dues payments to VMLA and contributions to VAMPAC are not deductible as charitable contributions for federal income tax purposes. Donations to VAMPAC are used to support candidates for public office in Virginia. Contributions are voluntary, and refusal to contribute does not affect membership rights. The portion of dues paid by a member to an organization that conducts lobbying is also not deductible based on the ratio of total lobbying expenses to total dues revenue. Currently that percentage is 6%.

Example 1
Lilah Lender works for a large Charlottesville bank. She wants to join VMLA and the Charlottesville Chapter. Lilah’s bank only has one office. Lilah would pay the $695 VMLA state dues, plus the Charlottesville Chapter dues of $75. Lilah would join as a Regular Member, since her company is a lender. Everyone at Lilah’s bank is eligible to be on VMLA’s membership roster, receive communications, and get member prices on VMLA services and events.

Example 2
Bruce Broker has two offices, one in Tidewater and one in Lynchburg. Bruce wants to join VMLA and both chapters. Bruce will pay the VMLA state dues of $695, one additional branch office fee at $50, TMBA chapter dues of $200, and LMBA chapter dues of $50. His total dues for the year are $995.00. Since Bruce is a lender, his company joins as a Regular Member.

Example 3
Sally Starter owns a small office with three employees and would like to join VMLA. Sally can join as an individual member and pay $195 for Individual Membership. Sally would also like for her two business partners to join. Once Sally has paid the $195 for her membership, she can pay an additional $50 for each business partner for a total of $295.

Example 4
Newport News lender, Otto Originator, wants to join VMLA, even though his firm will not pay the company dues. Otto can join VMLA as an Individual Member. Otto would pay $195 for Individual Membership. The chapters currently do not offer provisions for individual members. Individual Membership status means Otto is a member of VMLA, but his firm is not a member, nor is anyone else in Otto’s firm.