Items Tagged with 'NAMB'

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Want to become a mortgage broker? Here are tips on how to get started

What are the common misconceptions?
Mortgage brokers fall into the entrepreneur/startup category of the mortgage finance world. After taking a serious hit in the aftermath of the financial crisis, the industry is seeing a rebound in interest, especially as people think about how much money they can make if they work hard. So do you have what it takes to become a broker? Here's some advice from brokers themselves on where to start.
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Here's how NAMB, UWM plan to revive the independent mortgage broker channel

Announce $500,000 KickStart program
Mortgage brokers took a major hit after the financial crisis, vacating their individual businesses and fleeing to the security of working for a bigger company. However, a new initiative announced by the National Association of Mortgage Brokers and United Wholesale Mortgage is designed to regrow the mortgage broker channel. The KickStart program offers grants to loan originators aspiring to open their own mortgage shops. Looking to start your own company? Check the details inside.
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NAMB endorses Mortgage Fairness Act of 2015

Legislation designed to help low, moderate-income buyers
It's a bill that would allow low- and moderate-income consumers and homebuyers some flexibility in the loan they choose to buy a home in order to have better cash flow at the time of closing. Is it a good idea? NAMB thinks so.
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NAMB to Congress: New TRID forms should disclose g-fee costs

Homebuyers should see fees that "in no way benefit them"
The Association of Mortgage Professionals says the Consumer Financial Protection Bureau’s new Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, doesn’t disclose enough and says homebuyers are entitled to know where all the money they pay to buy a home is going.
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More industry voices demand CFPB take down Rate Checker

NAMB: False information will harm consumers
The battle over the Consumer Financial Protection Bureau’s new “borrower education tool” unveiled earlier this week is heating up, with the National Association of Mortgage Bankers now joining the Mortgage Bankers Association in calling on the CFPB to take the “Rate Checker” online tool down. Here’s the scoop.
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