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National Mortgage Professional
May 31, 2006

NAMB teams up with Hispanic real estate professionals: Partnership with NAHREP will help NAMB reach underserved communitiesMortgagePress.comNational Association of Hispanic Real Estate Professionals To broaden and diversify the National Association of Mortgage Brokers' (NAMB's) membership and its outreach to the Hispanic community, NAMB has announced the signing of a Memorandum of Understanding (MOU) with the National Association of Hispanic Real Estate Professionals (NAHREP), a non-profit trade association whose mission is to increase the rate of homeownership in the Hispanic community through the education and support of the real estate practitioners who serve it. "We must take active steps to encourage Hispanic homeownership in our country," said NAMB President Jim Nabors II, CRMS. "This partnership will improve consumer outreach and help educate mortgage professionals to better serve the Hispanic market." According to the U.S. Census Bureau's 2004 figures, 40 million Latinos live in the United States, and that number is expected to grow by four million in just four years. Gary Acosta, NAHREP co-founder and former chairman, said that mortgage brokers are an important link to Hispanic homebuyers and are often the primary conduit to this population segment. "Because of the significant role brokers play in the home buying process, it's vital that we have the latest information and tools to help their Latino clients overcome the challenges to homeownership," said Acosta. NAMB and NAHREP signed the agreement in February at the California Association of Mortgage Brokers 2006 Sales and Marketing Conference at the Disneyland Hotel in Anaheim, Calif. More than 30 percent of the nation's Hispanic population resides in California. "The MOU between NAMB and NAHREP is a significant step in finding ways to serve the needs of the Hispanic homebuyer," said CAMB President John Marcell Jr. "NAMB and CAMB are focused on providing programs and opportunities that benefit consumers. We are proud to partner with NAHREP to find solutions that will allow families the opportunity to live the American dream." The MOU marks the first time the two organizations have agreed to formally work together. The two organizations agreed to: • Identify existing professional and consumer educational programs and implement action plans to meet the needs of the Hispanic homebuyer market; • Review all existing programs to improve the understanding of loan originators in meeting the needs of Hispanic homebuyers; • Provide membership opportunities to their respective membership; • Explore joint legislative opportunities that support increasing homeownership opportunities, especially for minorities, and that benefit consumers and members of NAMB and NAHREP; and • Provide opportunities for services to the members of both organizations, including promoting any conferences and conventions of the other organization. For more information, visit www.namb.org or www.nahrep.org.
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