Members Mortgage Corp

What Members Mortgage Corp does

Members Mortgage Corp is a privately held, registered mortgage brokerage founded in 1999 by Ann Fleming and headquartered in Melville, New York. The company originates and arranges residential mortgage loans — including purchases, refinances, reverse mortgages (for borrowers 62+), fixed-rate, adjustable-rate, interest-only, and balloon loan programs — exclusively for union members and their families. It operates as a licensed mortgage broker in New York (NYS DFS Lic#130175) and Florida.

The company's defining commercial feature is a "no-fee" pricing model: borrowers pay $0 in application, credit report, processing, points, or broker fees, with the company compensated directly by the lender through transaction-based fees. The only borrower cost is an upfront appraisal fee (refundable up to $350 at closing per HVCC). Underlying technology consists of advanced mortgage processing software and automated underwriting systems coordinated through an internet-based platform, supplemented by online application tools and mortgage calculators.

Distribution is channel-led through partnerships with over 150 unions (including UFT, Teamsters Local 237, NYCPBA, and NYSUT), supported by a phone-based sales operation (1-833-99-UNION), online applications, and word-of-mouth referral programs. The company has facilitated approximately 25,000 loan closings and reports $50 million in cumulative member savings since inception. Leadership remains family-owned, with a stated headcount of 1–10 employees.

Name

Members Mortgage Corp

Legal name

Members Mortgage Corp.

Website

https://membersmortgagecorp.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

Members Mortgage Corp is a New York-based, union-focused mortgage brokerage offering a no-fee residential mortgage program (purchase, refinance, reverse) exclusively to union members and their families in NY, Long Island, and Florida.

Ownership category

akta.pro rank

Product category

Mortgage Brokerage

NAICS

Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Loan Brokers (6163)

akta.pro primary industry

Residential Mortgage Brokerage (Purchase & Refinance) (FSAEAEAA)

akta.pro secondary industry

Reverse Mortgage Brokerage (FSAEAEAE)

Keywords

• No-fee mortgages
• Union member loans
• Mortgage brokerage
• Home refinancing
• Reverse mortgages

Headquarters

HQ city

Melville

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Lender-paid compensation: The company is paid for services directly by the lender, not by the borrower. This is the core of their no-fee mortgage model where borrowers pay $0 in upfront fees (appraisal fee is the only borrower cost, with up to $350 refund at closing).

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Members Mortgage Corp is a privately held mortgage brokerage that originates no-fee mortgage loans exclusively for union members and their families. The company is compensated directly by the lender rather than the borrower, eliminating upfront borrower fees such as application, credit report, processing, points, and broker fees. It offers purchasing, refinancing, and reverse mortgage products through multiple loan programs including fixed-rate, adjustable-rate, interest-only, balloon, and buydown options.

Product overview

Members Mortgage Corp is a mortgage brokerage offering a unified "No Fee" mortgage loan program specifically for union members and their families. The core product is the no-fee mortgage program that eliminates upfront costs, supplemented by three primary service lines: Purchasing (home buying loans), Refinancing (existing mortgage restructuring), and Reverse Mortgages (for borrowers 62+). These services are delivered through various loan programs including 15 & 30-Year Fixed-Rate Mortgages, Fixed-Rate Balloons, Fixed-Rate/Temporary Buydown, Interest-Only, and Adjustable-Rate Mortgages (ARMs). The company also provides digital tools including mortgage calculators to help members estimate payments and savings.

Differentiator

Problem solved

Functional benefit

Products and services

• No Fee Mortgage Program No-fee mortgage loan program for union members and their families that eliminates upfront borrower costs (application, credit report, processing, points, broker fees), with Members Mortgage Corp compensated directly by the lender.
• Home Purchasing Loans Mortgage loans for union members purchasing a home, including first-time buyers, renters moving to ownership, and those buying new or secondary homes.
• Refinancing

Quantifiable outcome

• $50 million in savings for union members and their families
• +2 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered core.

• UFT (United Federation of Teachers)coreGTM or Marketing PartnerUnion membership organization representing teachers. Testimonials indicate 1500+ happy teachers served through the no-fee mortgage program. Union members receive access to exclusive mortgage benefits.
• Teamsters Local 237coreGTM or Marketing PartnerLabor union representing transportation workers. Active participant in the mortgage program with member testimonials for home purchases and refinances.
• NYCPBA (NY City Police Benevolent Association)coreGTM or Marketing PartnerPolice union representing NYC police officers. Members receive access to no-fee mortgage loan program.
• NYSUT (NY State United Teachers)coreGTM or Marketing PartnerStatewide teachers union in New York. Participates in the mortgage program offering benefits to union members and families.

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Better.com: Digital-first mortgage lender focused on a streamlined, low-friction borrower experience with no or low upfront fees. Comparable to Members Mortgage on the no-fee / cost-saving value proposition, though Better competes via technology and scale rather than union channel partnerships.
• Guild Mortgage: Retail-focused residential mortgage lender operating across the U.S. with a relationship-driven origination model. Comparable to Members Mortgage as a mid-sized retail originator competing on service quality and borrower experience in purchase and refinance.
• NewRez: Residential mortgage lender and servicer with retail and wholesale channels. Comparable to Members Mortgage on retail residential origination, especially purchase and refinance offerings to consumer borrowers.
• United Wholesale Mortgage (UWM): Largest U.S. wholesale mortgage lender serving independent mortgage brokers. Comparable to Members Mortgage as a participant in the broker channel; UWM is the upstream lender partner while Members Mortgage is a downstream broker, making them operationally adjacent.
• Caliber Home Loans: Residential mortgage originator and servicer providing purchase, refinance, and home equity products. Comparable to Members Mortgage on the origination side, particularly in refinance and conventional residential lending.
• Paramount Residential Mortgage Group (PRMG): Multi-channel residential mortgage lender with strong retail and wholesale origination. Comparable to Members Mortgage as an independent retail mortgage operation offering a broad menu of loan programs to consumer borrowers.
• Fairway Independent Mortgage: Independent retail mortgage lender with a distributed branch model serving consumers nationwide. Comparable to Members Mortgage as a mid-sized, relationship-driven retail originator competing on service and product breadth.
• New American Funding: Retail mortgage lender focused on diverse customer segments including multicultural and specialty borrower groups. Comparable to Members Mortgage's vertical, segment-specific approach to customer acquisition in residential mortgage origination.

Broad incumbents

• Rocket Mortgage: Largest direct-to-consumer mortgage lender in the U.S. Operates retail mortgage origination across all major customer segments; comparable to Members Mortgage as a competing retail mortgage originator, though at vastly greater scale and with a national digital brand.
• LoanDepot: Large retail and wholesale mortgage lender offering purchase and refinance loans nationwide. Comparable to Members Mortgage as a competing retail originator serving consumer borrowers across multiple geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/members-mortgage-corp

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Members Mortgage Corp