National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings Inc., has announced that Dana Abernathy, senior account manager, was named chairman of the Mortgage Banker Association’s (MBA’s) Certified Mortgage Banker (CMB) Society.
“As a recent CMB graduate myself, I can personally attest to the strength of the program and the importance of the designation, even to someone who has been working in the industry for many years,” said David H. Stevens, CMB, president and CEO of MBA. “The continued strength of the program and growth of the use of the designation relies on the volunteer efforts of industry leaders like Dana.”
The CMB designation is the industry standard of professional success, according to MBA Education. Those who have achieved the CMB designation comprise the CMB Society membership. The Society is governed by a chairman, vice chairman and secretary who serve one -ear terms and are selected by their CMB peers. The Society currently boasts more than 1,200 members representing all areas of the real estate finance industry—commercial and residential mortgage bankers, financial analysts, mortgage insurers, investors and a wide range of CMB consultants.
The mission of the CMB Society is to “advance the professionalism of the real estate finance, industry,” according to MBA. Toward that end, the Society works on behalf of its members and candidates to provide them with the educational and professional resources to assure the preservation and growth of the CMB designation. All CMBs agree to adhere to the MBA code of ethics and to conduct their business affairs with the highest degree of integrity, public service and professional good conduct.
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.
Since its inception in 1973, the CMB has been the highest professional designation for the real estate finance industry.
“I am very pleased to have been named chairman of the CMB Society,” Abernathy said. “CMB designees inspire other professionals in the mortgage industry to strive for excellence.”
