First Annual NAMB Wholesale Summit Judged a Resounding Success

First Annual NAMB Wholesale Summit Judged a Resounding Success

Top wholesale lenders meet with NAMB leadership to discuss growing the market

ORLANDO, FL, – March 25, 2015 – (RealEstateRama) — 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.

“We’re excited about the opportunity to pull all of you together to talk about the wholesale lending business and how we can increase things and do things a little bit differently,” NAMB CEO Donald Frommeyer, CRMS said as he opened the Summit. “It’s an exciting time. This is going to be a great effort. We hope to make this a joint effort to exact change.”

More than a dozen major wholesale lenders and a compliance company attended the event, including: Angel Oak Mortgage Solutions, B2R Finance, Carrington Mortgage Services, Franklin American Mortgage, Freedom Mortgage, HomeBridge Wholesale, Impac Mortgage Wholesale, Land Home Financial Services’ Wholesale Division, Lenders Compliance Group, New Penn Financial, Quicken Loans, REMN Wholesale, United Wholesale Mortgage, U.S. Bank and WholesaleOne.

“We wanted to open an extended conversation of common goals and concerns and that’s exactly what happened,” said NAMB President John Councilman, CMC, CRMS. “We set out to host a conversation about the kinds of meaningful changes that are very difficult if not impossible to have in most originator-to-lender dialogue. We accomplished that. Now, we have to continue with this dialogue.”

Frommeyer said the NAMB Wholesale Summit would not be a one-time event, but would bring attendees back together in some form every quarter to continue the work the group began last week. The next in-person meeting is currently scheduled to be concurrent with the NAMB National event in Las Vegas in October.

“This event definitely exceeded our expectations,” Frommeyer said. “The lenders that attended were thrilled with the outcome of this event. The networking opportunities offered by this event were unmatched. We offered them something they have been unable to get from other industry events.”

“The wholesale lenders that failed to attend the Summit missed this excellent opportunity to help form the future of wholesale lending,” said Councilman. “A strong foundation has been established, and hopefully those wholesale lenders that did not participate will recognize the value of this process and join future NAMB Wholesale Summit follow-ups. In addition, they missed out on the opportunity to share in the data obtained from an NAMB survey conducted with hundreds of loan originators and mortgage brokers. It provided invaluable information where these respondents want the future to be and what they expect from their wholesale lenders.”

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NAMB—The Association of Mortgage Professionals, is a trade association of mortgage professionals with membership in all 50 states and the District of Columbia. NAMB provides education, certification and government affairs representation for the mortgage industry. For more information, visit www.NAMB.org.

Contact: Eric C. Peck
NMP Media Corp.
(516) 409-5555, ext. 312
MARCH 23, 2015

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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

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