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Rating:A mortgage broker acts as an intermediary whose brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. However as markets for mortgages have become more competitive, the role of the mortgage broker has become more popular.
read moreThe National Association of Mortgage Brokers, or NAMB is self-described as the "only national trade association representing the mortgage broker industry in the United States." It has a membership of 27.000 members and was founded in 1973. This organization states on their website that "NAMB members subscribe to a code of ethics and best lending practices that foster integrity, professionalism and confidentiality when working with consumers." Headquarters are in Plano, Texas. NAMB Certification There are 3 levels of official NAMB Certification: Certified Mortgage Consultant or CMC, Certified Residential Mortgage Specialist or CRMS and General Mortgage Associate or GMA.
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