The National Association of Mortgage Brokers, or NAMB is self-described as the "only national trade association representing the mortgage broker industry in the United States." It has a membership of 27.000 members and was founded in 1973. This organization states on their 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.
NAMB Certification
There are 3 levels of official NAMB Certification: Certified Mortgage Consultant or CMC, Certified Residential Mortgage Specialist or CRMS and General Mortgage Associate or GMA. NAMB certified mortgage professionals pledge to adhere to a strict code of ethics and best business practices, and the 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 5 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 2 years industry experience and superior knowledge of residential financing.
The GMA designation requires proven knowledge of residential financing.