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National Association of Mortgage Brokers (NAMB)

LO Compensation Guidance Gets 11th Hour Treatment by Federal Reserve


The Board of Governors of the Federal Reserve System has announced the release of its "Compliance Guide to Small Entities" regarding Regulation Z: Loan Originator Compensation and Steering. The Compliance Guide summarizes and explains rules adopted by the Board, but is not a substitute for the final rule itself, which will be enforced come April 1, 2011. Regulation Z; Docket No. R-1366, Truth-in-Lending was originally published in the Federal Register on Sept.Click to continue

A Message From NAMB Government Affairs Committee Chair Mike Anderson, CRMS

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The Government Affairs team of the National Association of Mortgage Brokers (NAMB) has been very active so far this year and has had some significant impact with lawmakers and regulators in Washington, D.C. The most recent victory is the recently released appraisal independence announcement from the Federal Housing Finance Agency (FHFA) and Fannie Mae. NAMB has fought hard and had several meetings with FHFA/Fannie Mae to stress the importance of appraisal independence and portability. Well, they listen to us, and on Oct.Click to continue

Will Wholesalers Get Tougher to Keep Brokers Alive?

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What insanity! How can wholesalers help the broker channel survive the tsunami of regulations and ever-changing compliance? A shift in perspective is what we need. As a SAFE Act course instructor, I have a unique opportunity to speak with my friends and peers who are out there trying to figure out what the broker business model will ultimately look like.Click to continue

A Message From NAMB/WEST 2010 Conference Committee Chair Donald J. Frommeyer, CRMS ... Redefining Innovation One Step at a Time!

MGM Grand Las Vegas

I, along with Co-Chair John Stevens, have been serving as chairmen of the NAMB/WEST Committee for about eight months now, and I can tell you that this will be the best conference that we have ever hosted in Las Vegas. It has always been a great place to visit, but now this is the time you can come and learn about what is going on in the current state of the mortgage world.Click to continue

Keep Those Cards and Letters Coming

Mailbox/Credit: Brand X Pictures

This coming November (2010), I will complete my 51st year as a mortgage banker, and as the old saying goes, “Nobody knows the trouble I’ve seen.” The last 10 years make the previous 41 pale in comparison. That statement seems hard to believe, as I remember business slowdowns/recessions of the past five decades:Click to continue

The 20 year mistake: A message from NAMB President William R. Howe, CMC, CRMS


After almost 20 years of government-imposed confusion, consumers may finally get a disclosure form that does not confuse them and not place mortgage brokers at a disadvantage in the marketplace. It appears the government is finally stepping up to the plate and will try to merge the Truth-in-Lending (TIL) and Good Faith Estimate (GFE) disclosures.Click to continue

NAMB in 2010 and beyond … A message from NAMB President William R. Howe, CMC, CRMS

Future and Beyond

Let me begin by saying "thank you" for electing me as your president of the National Association of Mortgage Brokers (NAMB) for 2010-2011. It is certainly a trying time to be in the mortgage industry, but I firmly believe that together, we can make a change for the better. NAMB has downsized just as you have in your business and hopefully in your state associations. Expenses must be cut everywhere and cut deeply. I am sure you have felt the cuts personally in your own business as we have at NAMB.Click to continue

AllRegs' SAFE course approved by the NMLS

AllRegs Logo

AllRegs, FICO’s preferred training provider for the mortgage industry and the official training provider for the National Association of Mortgage Brokers (NAMB), has announced that its 20-Hour SAFE Comprehensive Mortgage Loan Originator classroom equivalent course, NMLS #1633, has been approved by the Nationwide Mortgage Licensing System & Registry (NMLS). The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires that pre-licensing and continuing education courses for state-licensed mortgage loan originators be approved by the NMLS.Click to continue