Skip to main content

NAMB’s Second Wholesale Summit Further Strengthens Broker-Wholesaler Bond

Phil Hall
Dec 29, 2015

Inspiration can strike in the least likely locations. For example, John Councilman found his inspiration for NAMB’s Wholesale Summits during a breakfast in Atlantic City.

“I attended the Northeast Mortgage Brokers Convention in Atlantic City last year,” recalled Councilman, president of NAMB—The Association of Mortgage Professionals. “[National Mortgage Professional’s founder] Andrew Berman held a breakfast for some major wholesale lenders. After the breakfast, I was very interested in talking about this issue further–but there was no forum for that.”

Councilman sought to share his enthusiasm on a wholesale-exclusive meeting with the NAMB board of directors. He outlined the possibility of the association hosting a pair of summits–one in the spring, the other in the fall–dealing with the challenges and trends facing the wholesale lending sector. Although the board had not budgeted for new conferences, they were intrigued by Councilman’s idea.

“They took a giant leap of faith that people would be interested–even though this was without having any funding for it in place,” Councilman added.

As a result, NAMB’s first Wholesale Summit took place in Orlando, Fla. in March, while a second summit was held recently in Dallas. An initial plan was to have the second Wholesale Summit piggybacked on NAMB National in October, but was scrapped because the proposed dates clashed with a previously scheduled event. But in seeking participation in the new summits, NAMB CEO Don Frommeyer wanted to avoid a come-one/come-all invitation.

“We limited participation to a maximum of three members of any company,” Frommeyer said. “But we were looking for the decision-makers. We didn’t want account executives–we wanted the people above them.”

The first summit brought in representatives from 15 of the industry’s leading companies: Angel Oak Mortgage Solutions, B2R Finance, Carrington Mortgage Services, Franklin American Mortgage, Freedom Mortgage, HomeBridge Wholesale, Impac Mortgage Wholesale, Land Home Financial Services’ Wholesale Division, Lenders Compliance Group, New Penn Financial, Quicken Loans, REMN Wholesale and United Wholesale. Frommeyer recalled that the first summit got off on a very cautious note, with both the organizers and attendees showing more than a little uncertainty.

“We did not know what to expect,” Frommeyer said. “Everyone was tentative–no one wanted to speak up. But after the first break, attendees started to introduce themselves to others because they did not know each other.”

NAMB provided its attendees at the first Wholesale Summit with data from a proprietary survey conducted with hundreds of loan originators and mortgage brokers on what they expected from wholesale lenders. The second Wholesale Summit was dominated by discussion on the impact of the new TRID regulations on the wholesale sector and the entire industry.

Frommeyer dubbed the wholesale outreach “a work in progress” and stated he was open to inviting non-NAMB members to next year’s meetings. As for Councilman, the idea for more NAMB summits aimed at specific segments of the industry was not out of the question.

“We may, but it’s not on the agenda,” Frommeyer said, adding that NAMB was already pre-occupied with the production of four major conferences for 2016.

Phil Hall is managing editor of National Mortgage Professional Magazine. He may be reached by e-mail at

This article originally appeared in the October 2015 print edition of National Mortgage Professional Magazine. 

Fifth Third Bank Expands Down Payment Assistance Program

The program will provide up to $3,600 towards a down payment for families with low to moderate income.

Industry News
Jun 09, 2021
Filo Mortgage Launches Low-Rate Guarantee

National mortgage lender Filo Mortgage is offering to beat competitors' pricing by $1,000 with its Low-Rate Guarantee.

Industry News
Jun 08, 2021
FAU Index Shows Where Consumers Should Buy Or Rent

Consumers are better off renting in cities like Dallas, Texas

Industry News
Jun 07, 2021
Verus Title Inc. Expands Into Dallas-Fort Worth Texas

Verus plans to take advantage of the Dallas-Fort Worth market before expanding throughout the state.

Jun 07, 2021
Freddie Mac Multifamily Extends Forbearance Deadline To September

Freddie Mac Multifamily extended the deadline for requesting a new COVID-19 forbearance agreement for its Multifamily loans to September 30, 2021.

Industry News
Jun 04, 2021
Fannie Mae Launches 'Your Own Story' To Educate Future Homebuyers

Fannie Mae is seeking to help demystify the homebuying process for future homeowners with “Your Own Story.” A new campaign to educate future homebuyers on the entire process.

Industry News
Jun 04, 2021