National Association of Mortgage Brokers - Explained
What is the National Association of Mortgage Brokers?
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Table of ContentsWhat is the National Association Of Mortgage Brokers?What does the National Association of Mortgage Brokers Do?
What is the National Association Of Mortgage Brokers?
The National Association of Mortgage Brokers (NAMB) is a leading national trade association for the mortgage industry in the United States. It was established in 1973 for promoting the interests of mortgage professionals and homebuyers.
What does the National Association of Mortgage Brokers Do?
The NAMB is committed to promoting the professional code of ethics for its members. It also provides education opportunity to its members to enhance their knowledge regarding mortgage business. They offer certification programs to its members to recognize the member with the highest degree of professional knowledge and education. It is mandatory for all NAMB members to adhere to a high degree of professionalism and code of ethics. The members of the NAMB comprise small business owners, loan originators, account executives, and other professionals engaged in the mortgage business. The NMLS mortgage industry report, 2016 suggests the NAMB members include 910, 000 licensed and registered Mortgage Loan Originators and 39,000* licensed mortgage broker and mortgage lender businesses. Five types of membership are offered by the NAMB: professional, associate, corporate, honorary and provisional. The NAMB is affiliated with the State Associations all across the United States. NAMB focusses on national and state issues in their lobbying and advocacy efforts. It fights for protecting the interest of the mortgage industry in Washington DC and state legislatures. NAMB hosts the convention of the organization in the spring each year. Apart from that central convention, it organizes several meetings for its members throughout the year. It collects and disseminates important legislature and other information regarding the mortgage industry regularly to educate its members. The members are also entitled to several benefits which aim at increasing productivity and decreasing business cost. NAMB supports a consumer education and fraud reporting program for safeguarding the interest of the home buyers. There are three subsidiary companies associated with the NAMB. Those are NAMB Association Services, NAMB Plus, and NAMB Foundation. The first one is a full-service association and event management consulting firm. The second one works for establishing and providing member benefits through relationships with approved endorsed providers. NAMB foundation provides educational resources and tools for loan originators.