Guest Post: NAMB seeks to improve integrity in lending

"In a short time, the Lending Integrity Seal you see here (insert seal here) will be the symbol of the industry's best mortgage originators."

The National Association of Mortgage Brokers used the occasion of their NAMB/WEST conference in Las Vegas this week to announce the Lending Integrity Seal of Approval. I'm guessing that's the seal they wanted to insert in the above quote. The program seeks to establish a higher level of credibility for its members by requiring criminal background checks, educational and ethics training, adherence to a code of ethics, business references, and of course, a nice little chunk of the broker's wallet (NAMB membership).

It all sounds terribly familiar to me. As a former mortgage broker, the vast majority of Realtors I've ever worked with are outstanding professionals. But that doesn't mean that I wouldn't need my HP12C to add up all of the "R"-pin wearing bad actors that have asked me for a kickback. This is a good start, but more will need to be done.

--Todd Carpenter - lenderama

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