Commercial mortgage insider: NAMB increases the fold for commercial loan brokersAnthony M. Gramzacommercial loan education, NAMBEF, Commercial Mortgage Task Force
The National Association of Mortgage Brokers (NAMB) and its
affiliate, the National Association of Mortgage Brokers Educational
Foundation (NAMBEF), are continuously growing throughout the United
States. Although the majority of its membership consists of
residential loan brokers, in recent years there has been a focus on
increasing its numbers to include those who have an educational and
financial interest in commercial loan brokering.
Although interest in commercial loan brokering has increased
with the upward movement of interest rates affecting residential
buyers, NAMB and its Commercial Mortgage Task Force have steadily
reinforced the need for the loan brokering community to educate
themselves in commercial real estate and its many advantages. Those
advantages not only benefit the broker offices, but local and
statewide entrepreneurs as well. If the Mortgage Broker is
satisfying the needs of the residential community, why not offer
the same professional services to those needing assistance in
commercial financing? As it has been stated so well in the past,
"Don't let the deal, as well as a potential commission, walk out of
your office." If this opportunity is to be seized, then the broker
and office personnel must be versed in all aspects of commercial
loan brokering--both the positives along with the negatives.
Education is the mainstay of NAMB with courses taught throughout
the country, both on the residential and commercial sides.
Currently, a basic commercial loan brokering class is offered in
all state affiliates, and NAMBEF, in conjunction with the
Commercial Mortgage Task Force, is in the process of creating five
additional "add-on" courses to cover all aspects of the commercial
mortgage industry. The second add-on course will be launched at the
Commercial Mortgage Educational Symposium and Lender's Panel for
the Eastern States, Tuesday-Friday, October 17-20 at the Opryland
Hotel in Nashville, Tennessee. For more information on the event,
contact NAMB at (703) 610-9009.
The Symposium, which will combine both educational opportunities
as well as "deal-making," will be open to brokers from across the
country. Once again, general and breakout sessions, along with
lender "deal-making rooms" and supplier displays will comprise the
Symposium. Plans are currently underway for next year's East and
West Coast Symposiums. Judging from discussions we have had with
attendees in the past, both brokers and lenders alike, the majority
walked away with at least one deal in their pocket. A new idea
learned helps make a new deal happen.
Commercial loan brokering is a profession, whether on a
full-time or part-time basis. NAMB and NAMBEF encourage continued
education on the part of all its broker members, and are in the
process of reviewing the advantages of a professional Mortgage
Broker designation. Just as designations are awarded to the
residential side of the industry, commercial loan brokers will
eventually have a designation as well. Education, hard work, and
perseverance need to be rewarded, and the pride of a designation is
part of that reward. The fact that a broker assists clients in
achieving their financial goals in commercial real estate, coupled
with a commission, is the other half of the reward.
If you are currently a Mortgage Broker and NAMB member, contact
your state affiliate for more information on the commercial classes
offered both in your state as well as those conducted in
neighboring states. If you are a broker and wish to know more about
NAMB and what it offers its membership, contact either a
residential or commercial Mortgage Broker in your area, or NAMB
headquarters at (703) 610-9009. You will be contacted by the
Membership Committee and have the opportunity to discuss commercial
loan brokering with a member of the Commercial Mortgage Task
Force.
The opportunities and advantages await. Learning never
stops...it must be a continuous process if we are to grow. Like the
saying of a great philosopher, "Minds are like parachutes...they
function only when opened." Are you open to increasing your
knowledge? Remember that new ideas won't work unless you do!
Commercial loan brokering is not a mystery; it is not difficultCbut
it is challenging and rewarding. If you have dreamed about
commercial loan brokering but have been hesitant in moving forward,
remember, "To achieve your dreams, believe in yourself. If you
don't, who will?"
Anthony M. Gramza, President of AMG Commercial Group, NAMBEF
Region I Director, and Education Chair for the NAMB Commercial
Mortgage Task Force, may be reached at (716) 264-9540 or E-mail
[email protected].
