NAMB president's corner: 2008-2008 President Marc Savitt, CRMSMarc Savitttype keywords here..SEPERATE BY COMAS ONLY(,)
It is a great honor to serve as president of the National
Association of Mortgage Brokers, and I am grateful that you've
entrusted me with this important position. In preparing to take on
this responsibility, I have spent a great deal of time thinking
about our agenda for the coming year.
Since the end of 2006, Mortgage Brokers have been unfairly
blamed for the mortgage meltdown and housing crisis in this
country. The mainstream media has fueled our depiction as bad guys
without fully researching and knowing the issues. As a result, a
tidal wave of rules, regulations and legislation has come our way.
As president of NAMB, one of my primary goals is to improve the
image of Mortgage Brokers. I intend to meet with those who have
been critical of our industry and educate them on the vital role
Mortgage Brokers play in the mortgage market.
Immediate Past President George Hanzimanolis, CRMS was an
outstanding leader during his tenure as president of this great
association. I plan to continue many of George's initiatives
already underway, such as consumer financial education, member
certification, and increased participation in NAMB programs such as
the Lending Integrity Seal of Approval and the Commercial Mortgage
Professional Program.
On the legislative and regulatory fronts, NAMB will continue to
address many issues before Congress, federal regulators and state
officialsissues such as Real Estate Settlement Procedures Act
(RESPA) reform, addressing affiliated business arrangements (ABAs)
and increasing broker participation in the Federal Housing
Administration (FHA) program. In addition, NAMB will continue to
work with representatives from New York Attorney General Andrew
Cuomo's office, as well as the government-sponsored enterprises
(GSEs) and Office of Federal Housing Enterprise Oversight (OFHEO)
on their proposed appraisal agreement, which would prohibit
Mortgage Brokers from ordering and working directly with
appraisers.
We have a great team in place to address these and many other
legislative and regulatory issues. I am confident we will continue
to be a strong voice for our membership in the halls of Congress,
the regulatory agencies and state capitols across the nation.
Education is another priority for the coming yearboth for consumers
and members. Due to economic conditions, it is now more important
than ever to educate the next generation of homeowners on how to be
financially responsible. With the help of several NAMB committees,
including the Credit Scoring and Education Committees, we will work
with communities to explore ways to promote a comprehensive
financial literacy program for high school students. We have begun
meeting with other groups to enlist their support on this
initiative and to help build a coalition to explore the best way to
develop and promote financial literacy programs in our nation's
high schools.
I believe education is also a key to our success as an industry.
Many of our members are taking advantage of educational and
certification opportunities to receive their General Mortgage
Associate (GMA), Certified Residential Mortgage Specialist (CRMS)
and Certified Mortgage Consultant (CMC) certifications. In
addition, NAMB's Lending Integrity Seal of Approval requires
brokers to adhere to a high standard of professional conduct,
education and national criminal background checks. I believe these
certifications and the Lending Integrity Seal of Approval set us
apart and raise the bar for our industry.
Finally, the launch of NAMB's Commercial Mortgage Professional
Program last year provides NAMB with an opportunity to increase and
expand our membership. I will work very closely with volunteers,
industry sponsors and staff to help them develop exciting new
programs to serve commercial mortgage professionals and help
non-commercial professionals learn about new ways to grow their
businesses.
We have a lot to accomplish this year, but we also have a great
team of volunteer members and staff to help us implement these
important programs and services. I appreciate their willingness to
serve and their dedication to the betterment of this association
and the mortgage industry. I will make sure to bring this same
dedication to my role as NAMB president.
Marc Savitt, CRMS, President National Association of
Mortgage Brokers
