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.
