National Association of Mortgage Brokers
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The National Association of Mortgage Brokers (NAMB) describes itself as the "only national trade association representing the mortgage broker industry in the United States." It has a membership of 27,000 and was founded in 1973. The organization states on its website that "NAMB members subscribe to a code of ethics and best lending practices that foster integrity, professionalism and confidentiality when working with consumers." Headquarters are in Plano, Texas.
There are three levels of official NAMB Certification: Certified Mortgage Consultant (CMC), Certified Residential Mortgage Specialist (CRMS) and General Mortgage Associate (GMA). NAMB certified mortgage professionals pledge to adhere to a strict code of ethics and best business practices, and they have proven their skill by meeting tough eligibility requirements and passing a rigorous exam. As the economy and the mortgage industry change, NAMB certified mortgage professionals maintain their industry expertise by satisfying NAMB's continuing education requirements.
The CMC designation is NAMB's most advanced certification. It requires at least five years industry experience as well as superior knowledge of residential and commercial financing. Candidates must pass a background check as well as a 200 question exam.
The CRMS designation requires at least two years industry experience and superior knowledge of residential financing.
The GMA designation requires proven knowledge of residential financing.
- National Association of Mortgage Brokers official website.