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.
Famous quotes containing the words national, association and/or mortgage:
“All experience teaches that, whenever there is a great national establishment, employing large numbers of officials, the public must be reconciled to support many incompetent men; for such is the favoritism and nepotism always prevailing in the purlieus of these establishments, that some incompetent persons are always admitted, to the exclusion of many of the worthy.”
—Herman Melville (1819–1891)
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—Edgar Lee Masters (1869–1950)
“The mortgage is still in our name but, increasingly, the house is theirs. One diaper, one vote.”
—Fred G. Gosman (20th century)