Authors Posts by NAMB

NAMB

The National Association of Mortgage Brokers (NAMB) is the voice of the mortgage broker industry, representing the interests of mortgage brokers and homebuyers since 1973. The Association is committed to promoting the highest degree of professionalism and ethical standards for its members. In addition to mandating members adhere to a professional code of ethics, NAMB provides mortgage brokers with professional education opportunities, and offers rigorous certification programs to recognize members with the highest levels of professional knowledge and education.

Contact:

Jon Otto
Phone: (703) 342-5851

National Association of Mortgage Brokers
7900 Westpark Dr., Suite T309
McLean, VA 22102

Phone: 703.342.5900
Fax: 703.342.5905

Chief Executive Officer
Roy DeLoach
Phone: 703-342-5900

Proposed Transitional Licensing Bill Harms Consumers

The Association of Mortgage Professionals has expressed concerns regarding H.R. 2121, The Transitional Licensing Act of 2015, which is currently being considered by the House of Representatives

John G. Stevens Selected as Mortgage Professional of the Year

The Association of Mortgage Professionals, has named Utah mortgage professional John G. Stevens the Mortgage Professional of the Year. The award, which was presented at the 2015 NAMB National meeting in Las Vegas, Nevada, is considered the highest honor a mortgage loan officer can receive in the profession. The award is nominated by and selected from the membership of NAMB

Mortgage Professionals Encouraged by CFPB Director Assurances on TRID

NAMB - The Association of Mortgage Professionals, today renewed its call for passage of H.R. 3192 legislation directing the Consumer Financial Protection Bureau to provide for a "hold harmless" period until the end of 2015 for companies that make a good-faith effort to comply with the TILA-RESPA Integrated Disclosures (TRID)

First NAMB #MortgagePro Social Media Contest Winner Announced

The Association of Mortgage Professionals, announced today that John Yeager, Branch Manager of Summit Mortgage in Valley Center, California, has won the first NAMB Social Media Contest. Over the past several months mortgage professionals from across the country have been encouraged to tell the world what makes them a mortgage professional and to use the #MortgagePro hashtag when they do.

NAMB Endorses Mortgage Fairness Act of 2015

The Association of Mortgage Professionals, has announced that it will work to support H.R. 3393, the Mortgage Fairness Act of 2015. The legislation introduced by Congressmen Bill Posey and Dennis Ross in the U.S. House of Representatives would provide a long overdue technical correction to the Dodd Frank Act. This technical correction would allow lower and moderate income consumers and homebuyers some flexibility in the loan they choose to buy a home in order to have better cash flow at the time of closing.

NAMB Calls for Full Disclosure of Increased G-fees on New TRID Forms

NAMB - the Association of Mortgage Professionals, is calling on Congress to require the Consumer Financial Protection Bureau (CFPB) to include a new line item clearly stating the hidden cost of G-fees on the soon to be required TRID forms. Fannie Mae and Freddie Mac guarantee fees, commonly referred to as G-fees, are not readily detectable by consumers in their mortgage documents since they are incorporated into the underlying rates paid by borrowers.

Momentum Building in Congress for TRID Hold-Harmless Period

The Association of Mortgage Professionals, today announced that a large group of housing and mortgage industry trade groups had come together in support of S. 1711. The bill would provide for a temporary safe harbor, or hold-harmless period, from the enforcement of integrated disclosure requirements for mortgage loan transactions under the Real Estate Settlement Procedures Act of 1974 and the Truth In Lending Act.

NAMB Mortgage Pros Endorse Scott-Donnelly Bill Providing for TRID Extension

The Association of Mortgage Professionals, has wholeheartedly endorsed S. 1711, a bill sponsored by U.S. Senators Tim Scott (R-SC), Joe Donnelly (D-IN) and a bipartisan group of their colleagues. The newly introduced legislation would provide for a temporary safe harbor from the enforcement of integrated disclosure requirements for mortgage loan transactions under the Real Estate Settlement Procedures Act of 1974 and the Truth In Lending Act.

Innovative Flood Insurance Program Legislation Introduced In Congress

Two U.S. Representatives from Florida, Patrick E. Murphy and Carlos Curbelo, introduced a bill that would allow states to approve private insurers to compete with the government-dominated flood insurance market.  They believe competition will result in better policies and pricing. In addition, they feel innovations involved in that process will ultimately ensure all flood insurance programs are better, including the National Flood Insurance Program

Association of Mortgage Professionals Expresses Relief on TILA/RESPA Delay

NAMB, The Association of Mortgage Professionals, expressed relief that the August 1, 2015, TILA/RESPA effective date had been delayed by 60 days to address an "administrative error" and again called on for a "hold harmless" period to be in effect until the end of the year.

NAMB Joins Other Mortgage Industry Leaders in Calling for Grace Period on TRID

The Association of Mortgage Professionals - joined other mortgage industry leaders this week in calling for a good faith grace period for compliance with the massive TILA-RESPA Integrated Disclosure requirements that are scheduled to go into effect August 1, 2015.

NAMB Leaders Call on Congress to Stem the Tide of Federal Regulatory Overreach

In written testimony submitted last week to the U.S. Senate Banking, Housing and Urban Affairs Committee and separately to the U.S. House Financial Services Committee; NAMB - The Association of Mortgage Professionals - called on Congress to put the brakes on rapidly increasing regulatory burdens imposed by the Federal Government.

NAMB Calls on President Obama to Update Speech Material on Mortgage Industry

In a letter dated March 30, 2015, John Councilman, President of the National Association of Mortgage Brokers, called on President Barack Obama to update his speech material to reflect the current realities of the mortgage business, particularly with respect to individual mortgage professionals and the role of the CFPB.

First Annual NAMB Wholesale Summit Judged a Resounding Success

NAMB—The Association of Mortgage Professionals hosted its First Annual Wholesale Summit last week in Orlando, Fla. The event allowed NAMB leadership to sit down at the same table with representatives of more than a dozen of the nation’s top wholesale lenders and a compliance company to discuss how wholesale lenders can grow market share and explore marketing, compliance and profitability issues facing wholesalers and mortgage originators

Mortgage Professionals Challenge Magazine to Learn More About Mortgage Industry

"In its March issue, Consumer Reports magazine recommended that borrowers not go to mortgage brokers. That is an amazing statement from a magazine that purports to be a resource for consumers."