The National Association of Mortgage Brokers and Advisers is renaming itself the Association of Mortgage Intermediaries.
The name change follows Namba's alliance with the Association of IFAs last August.
It has also secured funding from the Council of Mortgage Lenders and the backing of the Intermediary Mortgage Lenders' Association for the first time this week although the amount of funding is yet to be decided.
The name change to the AMI is intended to reposition it as a subsidiary of Aifa. The mortgage organisation is seeking a full-time paid director to work alongside Aifa director general Paul Smee at Aifa's London headquarters.
Namba steering committee member and Charcol senior technical manager Ray Boulger says he is confident that this change will attract mortgage intermediaries who have yet to join.
Namba's inaugural chief executive Julian Jennings quit in December 2001 and it has struggled to attract funding and members.
The AMI is now looking for a director without vested interests in the market who will have the confidence of mortgage intermediaries and the FSA and a good know-ledge of the industry.
Boulger says: “Namba had to make a number of changes to encourage people to join. There was a reluctance among some people to join.”
Smee says: “The AMI will be for all mortgage intermediaries who offer advice that is independent of a provider.”
Mortgage Intelligence managing director and steering group member Sally Laker says: “Funding from the CML has been secured and the support of Imla.
“The ins and outs of this and subscriptions cost for members are still to be decided and will be discussed at a steering group meeting at the end of February.”