irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $26KEDUCATIONAL SEMINARS PROVIDED TO MORTGAGE BROKERS AND MORTGAGE LOAN ORIGINATORS TO MEET MINIMUM REQUIREMENTS OF THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES REGULATIONS.
named programs · 4 · from sources
What they call their work
Annual Mortgage Conference & Tradeshow
Statewide conference featuring educational sessions, networking opportunities, and a tradeshow for mortgage industry professionals, held annually since 1988.
Compliance Hotline
Telephone consultation service staffed by attorneys from Abrams Garfinkel Margolis Bergson, LLP, providing members with guidance on residential mortgage compliance matters during business hours.
Continuing Education Programs
Approved NMLS provider of 11-hour continuing education courses for mortgage brokers and loan originators, offered across New York State and via webinars.
Legislative Advocacy
Representation of members' interests before regulatory agencies and legislative bodies in Albany and Washington, DC, including lobbying on mortgage industry regulations and policies.
activities · 6 groups
What they do
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Professional Networking Events 2 activities
- Hosts conferences, tradeshows, webinars, and regional events for mortgage professionalsOrganizes two annual state conferences and tradeshows, monthly live webinars, and regional breakfast meetings and seminars across New York State to support professional development and industry engagement.
- Organizes networking events and sponsorships for industry professionalsHosts banquets, networking functions, and regional events to foster professional connections among mortgage brokers, loan originators, bankers, attorneys, title professionals, and other industry stakeholders in New York State.
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Industry Advocacy and Regulatory Engagement 1 activity
- Conducts lobbying and advocacy for mortgage brokers at state and federal levelsRepresents the interests of mortgage professionals and small businesses through lobbying efforts in Albany and Washington, DC, and engages with regulatory agencies to advocate for fair treatment and representation in policy and regulation.
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Professional Membership and Association Benefits 1 activity
- Offers member discounts on education, events, and professional servicesProvides discounted access to state conferences, conventions, education programs, networking events, workshop seminars, and compliance training for mortgage professionals in New York State as a membership benefit.
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Healthcare Compliance and Ethics Programs 1 activity
- Operates a compliance hotline for membersProvides members with access to a Compliance Hotline through Abrams Garfinkel Margolis Bergson, LLC, offering guidance on residential mortgage compliance matters during scheduled business hours.
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Professional Certification and Continuing Education 1 activity
- Provides continuing education and prelicensing training for mortgage professionalsOffers NMLS-approved 11-hour continuing education courses (8 federal/3 state) and prelicensing training to mortgage brokers and loan originators across New York State, serving nearly 400 individuals annually. Courses are delivered in-person, as private sessions for companies, and through live and recorded webinars.
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Professional Education and Certification for Financial and Estate Planners 1 activity
- Provides professional education resources and industry informationOffers education resources, current industry news, and information to members to support professional development and compliance, including recordings of recent webinars and links to external resources.
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financials · form 990 · fy2024
revenue
Total revenue$238K
Contributions & grants$23K10%
Program service revenue$215K90%
Investment income$1650%
Other revenue$0
expenses
Total expenses$277K
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$213K
Cash$197K
Investments$0
Liabilities$49K
Net assets$164K
Liquid reserves8.5 mo
4 years on record · 2020–2024 · YoY revenue +3.7%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 5
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| MARK FAVALORO | BOARD CHAIRMAN | 3 | $18K |
| LOUIS BORSELLINO | TREASURER | 1 | $599 |
| BRUCE NAMAN | DIRECTOR | 1 | $385 |
| NICHOALS CASTRONOVA | PRESIDENT ELECT | 1 | $385 |
| CHRISTOPHER CAGGIANO | PRESIDENT | 1 | $380 |
board members · 4
- ELIZABETH NAPOLITANO — DIRECTOR
- JOHN L COMMONS — DIRECTOR
- RICHARD BIONDI — SECRETARY
- ROBERT RUSSO — VP
relationships · 16
Who they work with
- AGMB Law Partner — Legislative and regulatory updates partner, providing legal insights to members.
- Abrams Garfinkel Margolis Bergson, LLC Partner — Provides the Compliance Hotline service for NYAMB members.
- Abrams Garfinkel Margolis Bergson, LLP Partner — Law firm providing attorney staffing for the NYAMB Compliance Line.
- Consumer Financial Protection Bureau Partner — Provides a link to the CFPB as a resource for industry professionals and consumers
- NAMB Network — Encourages members to join NAMB directly, indicating alignment with the national association.
- NMLS Government — Approved provider of continuing education and prelicensing training under the NMLS.
- National Association of Mortgage Brokers Network — New York Association of Mortgage Brokers is the state chapter of NAMB, representing mortgage professionals in New York.
- National Association of Mortgage Brokers (NAMB) Network — NYAMB encourages members to join NAMB directly, indicating alignment with the national organization.
- National Mortgage Licensing Service Partner — Provides a link to NMLS as a resource for licensing information.
- New York State Department of Financial Services Government — Provides regulatory information and resources for members
- Scotsman Guide Partner — Provides members with free subscriptions to Scotsman Guide's publications and access to its LenderSearch tool.
- UWM Partner — Diamond Double Platinum Plus sponsor of the 2025 Annual Sponsors program.
- legislators Government — Engages in communication and representation with legislators on behalf of mortgage professionals.
- lenders Partner — Fosters relationships with lender affiliate members.
- other vendors Partner — Fosters relationships with vendor affiliate members.
- regulators Government — Engages in communication and representation with regulators on behalf of mortgage professionals.
strategies · 3
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Advocacy Through Representation and Educationmethodology: advocacy-through-education-and-representationBy combining member education with representation before regulators and legislators, the organization preserves the integrity of the mortgage broker business model, because informed advocacy strengthens policy outcomes and industry sustainability.
- Ethical Industry Standards Through Cooperation and Certificationmethodology: ethical-industry-standardsBy promoting ethical business practices through cooperation, healthy competition, and mandatory adherence to a code of ethics, the organization raises professionalism in the industry, because shared standards and accountability mechanisms reduce misconduct and increase public trust.
- Professional Development Through Education and Networkingmethodology: professional-development-through-education-and-networkingBy providing structured continuing education and peer networking opportunities, the organization increases professional competency and industry standards, because ongoing learning and professional connection reinforce ethical practice and regulatory compliance.