MBA Education, the award-winning education division of the Mortgage Bankers Association (MBA), recognized the 18 individuals who earned the Certified Mortgage Banker (CMB) designation at a ceremony held at MBA’s 100th Annual Convention & Expo in Washington, DC. Earning one’s CMB is the highest professional honor within the real estate finance industry.
The 18 CMBs who received their designations this past calendar year will join a group of more than 1,200 industry professionals who have proven their commitment to excellence within the mortgage banking industry.
“Gaining one’s CMB accreditation is not just an honor, the knowledge that comes with it is an incredibly useful tool in this day and age,” said MBA Chairman E.J. Burke. “These 18 individuals take with them a new set of skills they can use to build upon the impressive set they already possess. I applaud this year’s graduates and wish them luck now that they have accomplished this next crucial step in their careers.”
CMB candidates must acquire 150 points earned through a combination of professional experience, secondary education, continuing education through MBA-sponsored events and MBA Education courses, as well as participation in MBA at the local, state and/or national level. After accumulating the required points and passing a comprehensive written exam, candidates must demonstrate industry knowledge by passing an oral exam conducted by a panel of CMBs.
"I join MBA Chairman E.J. Burke in congratulating all of this year’s CMB graduates for achieving this significant milestone in their careers," said Jeffrey Schummer, MBA's vice president of Education. "All of them have earned an equally prestigious and useful professional designation, one that will serve them for the remainder of their time in the real estate finance industry."
Candidates have the option of choosing among the Commercial CMB, Residential CMB or Master CMB designations. The Master CMB is a combination of both commercial and residential mortgage banking disciplines, while the Residential CMB and Commercial CMB focus on their respective subfields of the mortgage industry.
In June 2009, MBA launched the Executive Certified Mortgage Banker program. Designed for busy professionals, this program allows candidates to substitute their real-world knowledge and experience for many of the educational requirements of the CMB program.
In order to be eligible for the CMB designation, candidates must either work for an MBA member company or be a member of a recognized state MBA. Every candidate for an Executive CMB is required to have a minimum of 10 years of experience in real estate finance and hold a senior management position at an MBA member company.