Association of Independent Mortgage

“The following changes were made to the bylaws in 2024: -enumerated the board fiduciary duties of care, loyalty, and obedience and established a requirement, responsibilities, terms of service, and method of election/appointment/removal) for directors to include a minimum of three directors and established director positions of: chairman, founding president, director of membership (local brokerages), director of membership (regional brokerages), director of membership (national brokerages). The updated bylaws also allowed for potential directors at large to be established by the board on an as-needed basis. -established a requirement for, responsibilities of, and methods of selecting/appointing/removing the officer positions of chief executive officer, chief operations officer, treasurer, and secretary. The updated bylaws established that no director can concurrently hold more than one (1) director position; that directors could not hold more than one (1) concurrent officer positions; and that the chairman cannot concurrently hold the positions of either treasurer or secretary. -document retention, whistleblower protection, and conflict of interest policies were put in place in september 2024.”

“The association has three (3) classes of members. Class i members are independent mortgage experts who are employees or independent contractors of a business that is an independent broker or non-delegated correspondent of residential mortgages. Class ii members are vendors to the residential mortgage industry. Class iii members are sellers and servicers of residential home mortgage loans. Corporations or business entities seeking membership in the association for themselves, their employees and/or their independent contractors, as applicable, as a class i member, class ii member, or class iii member, shall become members of the association only upon approval of the association after having met the membership criteria set by the board of directors.”

“The association has no committees with authority to act on behalf of the governing body.”

“The board of directors is provided form 990 for review and allowed an opportunity to ask clarifying questions, then provided concurrence/non-concurrence in writing prior to filing with the irs.”

“Aime adopted a conflict of interest policy on september 6, 2024, stating that upon initial election or appointment, and annually thereafter, each director, officer, and key person must complete, sign and submit to the chair of the audit committee a written statement in the form of the acknowledgement and disclosure statement attached to the policy. If the board or committee determines that a conflict does exist, the board or committee shall decide how to handle the conflict, taking care to ensure that any resolution is consistent with the best interests of aime. The person with the conflict may not be present for or participate in deliberations or voting with respect to the conflict.”

“Past ceo katie sweeney's compensation was self-determined. The following description is how current ceo jonathon haddad and the board determines compensation: compensation for employees is set by the ceo with oversight by the board. The chair is a volunteer (non-compensated position); however, the chair & ceo are currently the same individual. The ceo accepted no compensation throughout 2024. Compensation for the ceo began in 2025. Rate was developed collaboratively by the board of directors, excluding the chair & ceo, who recused themselves from all discussion and voting on the matter.”

“Aime's governing documents and form 990 are available on request within one business day via a designated email address ([email protected]) monitored by multiple aime employees.”

“Ceo jonathon haddad received no compensation for the position of ceo during 2024. The board of directors (with haddad recused from discussions and vote) set compensation rate for ceo in 2025.”