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Net income falls to $28.7 billion in Q3 at FDIC-insured institutions

Jan 24, 2008

NAMB introduces Lending Integrity Seal of Approval: New tool helps consumers identify those meeting highest ethical lending standardsMortgagePress.comNAMB, Lending Integrity Seal of Approval, George Hanzimanolis, professional standards, code of ethics, Mike Lepore The National Association of Mortgage Brokers has introduced the Lending Integrity Seal of Approval. The seal is designed to help consumers identify individual Mortgage Brokers and loan officers who meet the industrys highest standards for knowledge, professionalism, ethics and integrity. This is the first voluntary, national standard for individual Mortgage Brokers and loan officers, and it goes well beyond what many states require, said NAMB President George Hanzimanolis, CRMS. The Lending Integrity Seal of Approval is a bold step we are taking to transform our industry by helping consumers identify mortgage professionals who meet the highest ethical and professional standards. To earn the right to display the Lending Integrity Seal of Approval, a Mortgage Broker or loan officer must: *Be a member of NAMB; *Possess a current, state-issued mortgage license or registration; *Submit three business references; *Pass a national criminal background check; *Attend professional education training, including ethics training; *Adhere to NAMBs code of ethics and standards of best business practices; and ++Abide by NAMBs formal ethics grievance review process. NAMB is proud to have developed the most stringent code of ethics in the industry, Hanzimanolis said. This program builds upon NAMBs past and ongoing efforts to protect consumers and to promote professionalism throughout our industry. Wells Fargo Home Mortgage has already issued a statement commending NAMB on setting this new standard. Wells Fargo supports industry actions taken on behalf of the consumer, and NAMBs Lending Integrity platform stands out as such because it provides a high national standard for Mortgage Brokers and their loan officers, said Mike Lepore, executive vice president of Wells Fargo Home Mortgages institutional lending division. NAMB has exhibited true leadership by announcing a platform that will encourage integrity as a part of the origination process for any of its members. Wells Fargo is honored to have worked with NAMB to help develop the Lending Integrity platform and looks forward to continued collaboration. The Lending Integrity program will be made available to Mortgage Brokers and loan officers through state mortgage associations affiliated with NAMB. The public should begin to see the Lending Integrity Seal displayed in advertisements and by professional mortgage originators who meet the Lending Integrity criteria sometime in early 2008. For more information, visit www.lendingintegrity.org.
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Jan 24, 2008
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