National Association of Mortgage Brokers
Encyclopedia
The National Association of Mortgage Brokers, or NAMB is self-described as the "only national trade association representing the mortgage broker
industry in the United States
." It has a membership of 27.000 members and was founded in 1973. This organization states on their website that "NAMB members subscribe to a code of ethics and best lending practices that foster integrity, professionalism and confidentiality when working with consumers." Headquarters are in Plano, Texas
.
NAMB Certification
There are 3 levels of official NAMB Certification: Certified Mortgage Consultant or CMC, Certified Residential Mortgage Specialist or CRMS and General Mortgage Associate or GMA. NAMB certified mortgage professionals pledge to adhere to a strict code of ethics and best business practices, and the have proven their skill by meeting tough eligibility requirements and passing a rigorous exam. As the economy and the mortgage industry change, NAMB Certified mortgage professionals maintain their industry expertise by satisfying NAMB's continuing-education requirements.
The CMC designation is NAMB's most advanced certification. It requires at least 5 years industry experience as well as superior knowledge of residential and commercial financing. Candidates must pass a background check as well as a 200 question exam.
The CRMS designation requires at least 2 years industry experience and superior knowledge of residential financing.
The GMA designation requires proven knowledge of residential financing.
Mortgage broker
A mortgage broker acts as an intermediary whose brokers mortgage loans on behalf of individuals or businesses.Traditionally, banks and other lending institutions have sold their own products. However as markets for mortgages have become more competitive, the role of the mortgage broker has become...
industry in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
." It has a membership of 27.000 members and was founded in 1973. This organization states on their website that "NAMB members subscribe to a code of ethics and best lending practices that foster integrity, professionalism and confidentiality when working with consumers." Headquarters are in Plano, Texas
Plano, Texas
Plano is a city in the state of Texas, located mostly within Collin County. The city's population was 259,841 at the 2010 census, making it the ninth-largest city in Texas and the 71st most populous city in the United States. Plano is located within the metropolitan area commonly referred to as...
.
NAMB Certification
There are 3 levels of official NAMB Certification: Certified Mortgage Consultant or CMC, Certified Residential Mortgage Specialist or CRMS and General Mortgage Associate or GMA. NAMB certified mortgage professionals pledge to adhere to a strict code of ethics and best business practices, and the have proven their skill by meeting tough eligibility requirements and passing a rigorous exam. As the economy and the mortgage industry change, NAMB Certified mortgage professionals maintain their industry expertise by satisfying NAMB's continuing-education requirements.
The CMC designation is NAMB's most advanced certification. It requires at least 5 years industry experience as well as superior knowledge of residential and commercial financing. Candidates must pass a background check as well as a 200 question exam.
The CRMS designation requires at least 2 years industry experience and superior knowledge of residential financing.
The GMA designation requires proven knowledge of residential financing.
External links
- National Association of Mortgage Brokers official website.