NAMB Government Affairs Update

2014 Mortgage Survey

Help NAMB Tell Your Story

The CFPB Wants To See Data
Recently the Government Affairs team met with the CFPB to discuss mortgage brokerage compensation, the 3% cap on points and fees, as well as loan origination compensation. The CFPB provided excellent industry insight and guidance into several of the key areas plaguing mortgage originators and mortgage brokerage entities.
It is obvious the CFPB is a data driven organization and NAMB is determined to show them that the mortgage broker model is extremely effective in mitigating upfront costs for consumers. We are also determined to show them that thousands of small businesses are being adversely impacted due to the limitation on entity revenue.
So, here we are. Your industry needs your help. Your industry needs you to participate and respond to this survey to the best of your ability.
If you don't have exact numbers, please provide us with your best estimate.
Take the NAMB Survey HERE

The major data points we would like to see are:

TOTAL number of Loans closed in YTD.
TOTAL Dollar Volume of your loans YTD.
TOTAL amount of Mortgage rebates that you gave to the customer to help pay their closing costs YTD. This amount will be the sheet price of the loan, minus your Lender Comp, minus any hits and this would be the net amount that you would have given back to the customer to help pay fees and reduce closing costs.

Each survey participant will receive the video webinar, Getting More Business With Realtors presented by Maximum Acceleration. In addition, Mortgage Educators will be giving away five 8-hr NMLS classes to be used for 2014 or 2015.

Here is the bottom line, NAMB has open lines of communication with our regulators and will continue to work with them to improve the state of housing and do what is best for the consumer and small business mortgage professionals.
Just remember, It does not matter if you are a mortgage broker or a mortgage banker, NAMB is here for you...the mortgage professional.





Monday, October 20

I was reminded this week that Halloween is only a few days away, and we need to start to prepare at our house. As most of you probably know, my daughter got married a few years ago on Halloween because it is her favorite holiday. So, we are starting to decorate for this great day … are you? 

NAMB+ offers each member discounts on all types of products that can help you in your business. One of these discounts is from Meridian One, and they have a great program for NAMB members. They have a great UPS program that can save you money. 

Make the most out of your NAMB membership and take advantage of competitive rates available on shipping services with UPS, including 50 percent off select services for up to four weeks after you enroll.* Whether you need your documents or packages to arrive the next day or are looking for the most affordable shipping option, UPS understands the importance of reliability, speed and cost. See how UPS discounts can help your bottom line:

• Up to 36% on UPS Air letters including UPS Next Day Air 
• Up to 32% on UPS Air packages (1 lb.+) 
• Up to 34% on UPS International imports and exports 
• Up to 24% on UPS Ground shipments

Savings begin at 70% on UPS Freight shipments over 150 lbs. 50% on UPS Next Day Air, UPS Next Day Air Saver, UPS Worldwide Express export, UPS Worldwide Saver export, and UPS Worldwide Expedited export shipments for up to four weeks after you enroll.*

You can receive these discounts even if you already have a UPS account. Remember, the more you ship, the more you can save with UPS. To enroll and start saving immediately, visit or call 1-800-MEMBERS (1-800-636-2377), Monday-Friday from 8:00 a.m.-6:00 p.m. EST. Make sure you tell them that you are an NAMB member. Visit for specific services and discounts. Introductory Program discounts will be applied to accounts for Week One through Week Four on the UPS Savings Program. Week One includes the date that discounts are applied. Weeks are calculated Sunday through Saturday. 

Members should also visit and see the other programs that are available to members. We have negotiated special programs and discounts for many different companies, so go and spend some time on the Web site and maybe you can start saving money today. 

NAMB’s education programs are about to go global. Our current President-Elect Rocke Andrews is also chairman of the Education Committee. He had been contacted by a group of mortgage professionals in Dubai to go there and teach a class to prepare them to take their certification tests for the Certified Residential Mortgage Specialist (CRMS) and Certified Mortgage Consultant (CMC) designations. They are interested in using the NAMB certification program for credibility and professionalism in their mortgage transactions. WOW! 

Our Government Affairs Committee Chair Rick Bettencourt was in Iowa this week and it went very well. I would like to request that if your NAMB state affiliate has set the dates for their state conference for 2015, please send it to me so we can advertise it for you on our Web site and we can start making arrangements for either NAMB President John Councilman or myself to attend. 

Until next week!

Donald J. Frommeyer, CRMS, CEO 
NAMB—The Association of Mortgage Professionals


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