Government Affairs in Washington

NAMB Government Affairs Update

Policy Guidance on Supervisory and Enforcement Considerations Relevant to Mortgage Brokers Transitioning to Mini-Correspondent Lenders

Click here to read more.

2013 Mortgage Survey - Rebates To Consumers

Last year, the Government Affairs team at NAMB conducted a survey of mortgage professionals to determine the amount closing cost credits given back to consumers at closing. The data overwhelmingly showed that in 2012, mortgage brokerages gave millions of dollars to consumers to help cover closing costs. 
 
Our data helped the mortgage industry get some very positive press and turn some heads in DC. Read the WAPO Story here!
 
We are now conducting the same survey for 2013. Please fill out the short 5 question survey and help NAMB help you.
 

Take the NAMB Survey HERE

 

  

Monday, July 28

As we draw closer to having a great NAMB National, we are beginning to tweak the schedule for Monday to make it better for upcoming events and to make the information that we give you be the most up to date and most current items available. Please stay tuned to the NAMB National website for the most current schedule and up to date information. And don’t forget to go get your airplane tickets and your reservations at NAMBNational.com to attend. Again, this is our 40th Anniversary and you won’t want to miss it.

I had a conversation about a Broker that was having an audit completed in Massachusetts. He stated that he was having a state audit and they were using the CFPB checklist and treating them like a bank. They were looking at taxes, financial statements, payroll records, receipts, loan disbursements and everything you could imagine. As I wrote a few weeks ago, this is now the norm and it is going to be this way going forward. He stated that they wanted to know all about their training of employees, the procedure books on how to originate and how to process loans and more. There is no time like the present to make sure that you are prepared for this. Do not continue to sit on the sidelines and do nothing as they will soon be knocking on your door. Take action today. Contact a company like BrokersComplianceGroup.com (an NAMB+ Endorsed Provider) to get this taken care of today. If they come in and you are not prepared, I promise you that it will cost more than the investment of these documents to get back on track.

I was talking about belonging to NAMB to a group of people and they said that they were members and that they appreciated what NAMB has done over the past 2 plus years. I just happened to check their names on my phone app and they were not members. They said that they thought that they paid their membership dues at the same time as their state dues. It isn’t always the way this works. So, you need to be pro-active and check on the NAMB website and see if you are a member. If not, join today. And if you are, check to make sure that you have your Lending Integrity Seal and register for it if you don’t.

If you know someone in your state that is very worthy and has participated in state and national committees, does great things for your state and is involved in the National Association and involved in your state association, please take the time to nominate these people for the Mortgage Professional of the Year and /or the Kathy Love Volunteer of the Year awards. If you need an application, send a request to namb@namb.org and ask for the form to nominate that person. The actual requirements are listed with the form. We are always looking for great members to honor and this is the time of year we ask for these nominations. The awards will be given out in Las Vegas at NAMB National September 13-15.

I want to leave you this week with a thought that I have tried to live with and it involves dreams. As we grow through life, we are all reminded that you need to set goals and dreams that you want to achieve in your life. I remember that I always dreamt about my career and life in the business sector. I have to admit that I didn’t dream about being the NAMB President, but I wanted to be successful in whatever I chose as a profession. As I moved up through the ranks of the State Association, I just aspired to go to the National Association Board. I dreamt about this all through my tenure in Indiana. So when I was young, my father had a saying: “Dreams not only come true, but they can do so beyond your wildest expectations!” Let me tell you, this has been 3 of the greatest years of my life. It has truly been an honor to represent you and be one of you. As we move forward, I will continue to be involved.

I want to thank all of you for everything that you as members are doing to make this association successful. I am truly grateful to all of you for your support. Thank you.

Until next week!!!


Donald J. Frommeyer, CRMS, President 
NAMB—The Association of Mortgage Professionals 
president@namb.org www.joinnamb.com

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NAMB App

Download the NAMB App for iOS and Android 

Click here to download in iTunes store. Click here to download in Google Play store.

NAMB National

Save the Date! 

NAMB National 2014 will be from September 12-15, 2014 at the Luxor Hotel Casino in Las Vegas, NV. More details to come!

NAMB Webinar: Getting More Business With Realtors

August 5, 2014, 12:00 PM EDT

Please Click here for additional information.


 

 

 

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