RealEstateRama Authors Posts by NAMB
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
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
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)
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.
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 - 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.
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.
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.
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
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.
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.
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.
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.
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
"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."
The Summit is set for March 21, 2015 at the Hyatt Place Orlando Airport in Orlando, Fla.
America’s Homeowner Alliance and the National Association of Mortgage Brokers Announce Strategic Partnership
WASHINGTON, DC., - October 10, 2014 - (RealEstateRama) -- The National Association of Mortgage Brokers (NAMB) and America’s Homeowners Alliance (AHA) have announced a new partnership where NAMB members can now provide their customers with a one year free membership in the AHA. NAMB member customers will now have access to AHA advocacy and member rewards benefits, designed to promote pro-homeowner policies while also helping them to save money on every day purchases.
WASHINGTON, D.C. - November 14, 2013 - (RealEstateRama) -- NAMB—The Association of Mortgage Professionals has announced that it has been invited by the Consumer Financial Protection Bureau (CFPB) on Tuesday, Nov. 5 to take part in a sit-down conference to discuss the role the mortgage broker plays in the recovery of the nation’s economic recovery. Representing NAMB at the meeting will be association President Don Frommeyer, CRMS, senior vice president of Amtrust Mortgage Funding in Carmel, Ind. Frommeyer will be joined by the leadership of other housing finance-related trade associations, including the Mortgage Bankers Association (MBA), National Association of Realtors (NAR), Real Estate Services Providers Council Inc. (RESPRO), and Impact Mortgage Management Advocacy & Advisory Group (IMMAAG), among others.
WASHINGTON, D.C. - April 5, 2013 - (RealEstateRama) -- The National Association of Mortgage Brokers (NAMB) has come out in support of the Consumer Financial Protection Bureau’s (CFPB) release of the Consumer Complaint Database, a public database of federal consumer financial complaints, containing more than 90,000 individual complaints on financial products and services. One of NAMB's core beliefs is the protection of consumers and their rights to fair and equal credit as it pertains to the residential mortgage market. It is NAMB’s belief that the CFPB’s Consumer Complaint Database will assist consumers in identifying reputable and efficient sources for obtaining credit needed to purchase a home in today's heavily regulated market.
WASHINGTON, D.C. - January 24, 2013 - (RealEstateRama) -- The Consumer Financial Protection Bureau (CFPB) has released its final rules on loan originator (LO) compensation. The CFPB, after working for many months and examining the many aspects of this regulation which it inherited from the Federal Reserve Board, issued a rule that will harm consumers according to NAMB—The Association of Mortgage Professionals.