Formed in October 2018, the IMBF serves as a global forum for bringing the international mortgage brokering community and its suppliers together to collaborate on shaping market practices, while influencing regulation and legislation through global advocacy. The organization also aims to develop and adapt new and existing standards that enhance the industry and promote strong ethical practices by its members across the world.
“On behalf of NAMB and our thousands of members across the United States of America, I am thrilled to announce today’s news as this initiative marks a great moment in time for the global mortgage industry,” said Richard Bettencourt, CRMS, NAMB President. “NAMB is the leading authority in America when it comes to legislative, technological, and industry advancements within the mortgage marketplace and we are excited to share our insights within the IMBF while gaining new practices from our partners across the world. I am personally excited to watch this group grow and guide the next generation of mortgage professionals across the world.”
The Federation plans to create the first global referral network where brokers can refer clients overseas if they move, yet still stay in contact with their client through the new relationship. Additional countries who use third-party origination networks to distribute loan products have been invited to join and the Federation expects to grow considerably by 2022.