National Association of Mortgage Brokers
The National Association of Mortgage Brokers (NAMB) is the voice of the mortgage broker industry, representing the interests of mortgage brokers and homebuyers since 1973.
The Association is committed to promoting the highest degree of professionalism and ethical standards for its more than 25,000 members. In addition to mandating members adhere to a professional code of ethics, NAMB provides mortgage brokers with professional education opportunities, and offers rigorous certification programs to recognize members with the highest levels of professional knowledge and education. As the sole national trade association for this industry, NAMB is affiliated with all 50 state associations and the District of Columbia. NAMB’s active lobbying and advocacy efforts frequently focus on national and state issues.
The Association hosts one annual convention each Spring, and sponsors or co-sponsors several additional meetings throughout the year. NAMB also offers members a host of benefits aimed at increasing productivity and lowering business costs. Most NAMB members are small business owners.
Since mortgage brokers participate in more than 50% of home loans originations, homebuyers’ interests are also important to NAMB. The Association supports a consumer education and fraud reporting program with information and links available on the http://www.namb.org/ website.
National Association of Mortgage Brokers Mission
Established in 1973, the National Association of Mortgage Brokers (NAMB) is the only national trade association representing the mortgage broker industry. With 50 state affiliates, and more than 25,000 members, NAMB promotes the industry through programs and services such as education, professional certification and government affairs representation. NAMB members subscribe to a code of ethics and best lending practices that foster integrity, professionalism and confidentiality when working with consumers.
According to a 2004 study by Wholesale Access Mortgage Research & Consulting, Inc., there are approximately 53,000 mortgage brokerage companies that employ an estimated 418,700 employees and originate more than 50% of all residential loans in the U.S. The mortgage broker industry is regulated by 10 federal laws, five federal enforcement agencies and over 49 state laws or licensing boards.
Mortgage brokers are real estate financing professionals acting as the intermediary between consumers and lenders during mortgage transactions. A mortgage broker works with consumers to help them through the complex mortgage origination process.
A typical broker has a working relationship with numerous banks and other lenders and provides the consumer with access to hundreds of options when it comes to financing a home. This allows mortgage brokers to provide consumers the most efficient and cost-effective method of obtaining a mortgage that fits the consumer’s financial goals and circumstances. Mortgage brokers have helped many consumers, including low-to-moderate income borrowers with less than perfect credit histories, enjoy the benefits of homeownership.
National Association of Mortgage Brokers Contacts
National Association of Mortgage Brokers
7900 Westpark Dr., Suite T309
McLean, VA 22102
Phone: 703.342.5900
Fax: 703.342.5905