WASHINGTON, DC – March 27, 2012 – (RealEstateRama) — CampusMBA, the award winning education division of the Mortgage Bankers Association (MBA), today announced a new Continuing Education (CE) requirement for all Commercial, Residential and Master Certified Mortgage Banker (CMB) designates. Beginning June 1, 2012, all CMB designates will now be required to complete ongoing continuing education to maintain their respective designation.
“Since 1973, the CMB designation has been the symbol of respect, credibility, expertise and achievement within the real estate finance industry,” said Jeffrey Schummer, MBA’s Vice President of Education. “Now more than ever with the industry in a period of rapid change, it is essential that industry leaders continue to advance their knowledge and build on this standard in order to set the bar for excellence in our industry.”
Now, each CMB will be required to complete 30 hours of continuing education over an on-going two year period. CE credits will be available through Campus MBA on-line courses, at selected sessions during MBA conferences, and through special CMB events.
About the CMB designation
In order to be eligible for the CMB designation, candidates must either work for an MBA member company or be a member of a recognized state MBA. Every candidate for an Executive CMB is required to have a minimum of 10 years of experience in real estate finance and hold a senior management position at an MBA member company.
CMB candidates must acquire 150 points earned through a combination of professional experience, secondary education, continuing education through MBA-sponsored events and CampusMBA courses, as well as participation in MBA at the local, state and/or national level. After accumulating the required points and passing a comprehensive written exam, candidates must demonstrate industry knowledge by passing an oral exam conducted by a panel of CMBs.
For more information on the CMB CE program please visit:
The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site: www.mortgagebankers.org.