About Us
Since 1928, the St. Louis Mortgage Bankers Association has provided exemplary service to the St. Louis community. The St. Louis MBA is committed to the mortgage banking industry and its members adhere to the highest standards in lending. Customer satisfaction, loyalty and trust is the key to being a St. Louis MBA member.
MBA - STL History
The purposes of the MBA-STL shall be to preserve and improve the quality and level of service in the mortgage banking business and to encourage its use in the making and servicing of mortgage loan investments; to encourage among its members sound business practices and methods in the making, marketing and servicing of real estate mortgage loans; to inform its members of changes in mortgage laws and as to pending legislation affecting the real estate and mortgage business; to sponsor educational meetings for the discussion of real estate mortgage problems; to cooperate with public and private agencies in the establishment of sound real estate practices; and such other matters as from time to time may be approved by the Board of Governors.
The MBA-STL was founded in 1927, and is the second oldest mortgage bankers' association in the country. It started as a very small organization, as there literally were not very many savings & loan or title companies in existence at that time. The members, though few in number, hung together through good and bad times. In 1974, Jack Sheahan of Sheahan Investment, Al Will of Gershman Investment, and Kevin McGinnis of Town & Country Mortgage met with members of the local Kansas City MBA to form the MBA of Missouri, a state-wide organization dedicated to lobbying against restrictive legislation for both lenders and consumers. Bill Sheahan of Sheahan Investment was the first president of the MBA of Missouri.
The MBA-STL remains an active organization of members in the mortgage banking industry who work together on a strictly voluntary basis for the good of the industry. According to Jack Sheahan, in over 78 years of its existence, the members of the MBA-STL have upheld a strict code of ethics and avoided any taint of scandal. The members are also affiliated with the MBA of Missouri and the National Mortgage Bankers Association in Washington, D.C., whose publications and lobbying activities keep them abreast of changing issues which affect both lenders and the public.