RAISING THE BAR by yaofenji


For The Mortgage Industry

Year in Review 2006-2007
2 0 0 6 - 2 0 0 7                                      Y e a r                     I n            R e v i e w


                                     s President of NAMB in 2006-2007, I have been humbled by the hard work and
                                     dedication of the members, industry partners, staff, and others whose efforts are so vital
                                     to securing NAMB’s position as a leading voice in the industry. I am amazed and
                            heartened by the many broker/owners and others who take time away from their own businesses,
                            devoting hundreds of hours to chair committees, help develop policies and strategies, work as foot
                            soldiers, and recruit others, all on behalf of the mortgage broker profession. I salute all of you,
                            and you have my heartfelt thanks.
Although it may seem like there is always more to be done, I believe 2006-2007 will be remembered as the year NAMB
“raised the bar for the mortgage industry.” As you read this year’s review, you’ll see what I mean.We achieved huge successes
in virtually every area. From FHA and VA reform in Government Affairs, to making NAMB education courses more widely
available and free for members at NAMB meetings – we’re making progress on all fronts to serve members better.
There is a new NAMB designation for people just entering the profession called the General Mortgage Associate, and we’ve
begun promoting all of our certification designations better, starting with an ad in Realtor magazine.We’ve testified on Capitol
Hill, before regulatory agencies, and in state capitals far and wide. Policy makers seek our input, and the national news media
now comes to NAMB to hear our positions on everything from industry trends to trigger lists.
We’ve also done a lot better communicating with the states this year, and met with state leaders and members at a number of state
conventions and regional meetings. Improving state relations is an important priority for NAMB, and I am certain it will continue
to gain momentum. As a national organization, NAMB depends on support from its members and state leaders to thrive.
Speaking of building a robust association, much of what we do is made possible by generous support from our Industry
Partners. Although we are seeing some shifting in the industry, NAMB’s alliance with key industry leaders continues to be a
great asset to the organization and the profession.
I’d also like to note the importance of the NAMB staff. Many of our important initiatives just wouldn’t be possible if not for
the expertise and good counsel provided by the employees of NAMB. I marvel at their dedication, willingness to go the extra
mile, and commitment to excellence. At all levels, they serve NAMB well.
It is impossible to predict what the future holds, but looking ahead even in these uncertain times, I am certain NAMB will
continue to prosper and grow.We have many new and innovative programs in the works and in various stages of development,
and I can tell you it is an exciting time to be a mortgage broker and a member of NAMB. Let me congratulate all of you for
your hard work and drive to succeed.What makes you good business people makes you incredible leaders. And when people
say NAMB is member driven, I have to say, “Yes it is, and look how far we have come”.
My best to each and every one of you.

Harry Dinham, CMC
H i g h l i g h t s                                          f r o m                      t h e                   y e a r
The critical importance of education is clear in the new NAMB
policy: Education is a benefit of membership. Starting at the
June 07 national convention and continuing with the move to
regional conferences, all education courses are included in the
conference fee for NAMB members.
Further, NAMB’s Education Committee and staff launched a
campaign this year to make education as accessible as possible
at the state/local level.They scrutinized NAMB’s 14 face-to-
face courses and developed six two-hour introductory courses,
adding relevant examples and case studies.
“We now have two-hour introductory courses in Ethics, Reverse
Mortgages, Residential Mortgage Lending (RML) I and II, Credit
Scoring, and Commercial Lending,” said committee chairman
Jim Pair, CMC, President of Mortgage Associates, Corpus
                                                                   Leading consumer groups joined columnist Ken Harney at the NAMB
Christi,TX. “Also, while we will continue to offer the 16-hour     Legislative Conference.
version of RML, we are reconfiguring that course into eight two-
hour sessions,” he said. “The first two will be delivered at the
Annual Meeting in Seattle.The two-hour format means that           In addition to updating and offering a wide range of courses,
these courses can be presented at lunch or dinner meetings.” In    the Education team trained more instructors. A total of 12
addition, the Annual Meeting in Seattle will host the debut of a   NAMBits (NAMB instructor training courses) spanned the
new two-hour course addressing identity theft.                     country, offered in nine states and at the Legislative
                                                                   Conference—with seven more scheduled before year’s end.
To drive home the importance of education on professional
development and in some cases compliance, the leadership of        “The mandate was to increase the number of instructors by 50,”
the Education Committee visited Colorado, Oklahoma, and            Pair said, “but we have increased the number by over 100, and
Hawaii this year to deliver one-day orientation sessions about     we will reach 130 by the end of calendar year ‘07.We have
NAMB’s educational benefits, including how NAMB’s                  more than 350 people currently teaching.”
educational program is designed to meet the continuing             NAMB knows its instructors are a valuable resource.This year,
education criteria mandated by state financial regulators. “We     all national instructors were offered professional development
have now provided this ‘Education Rollout’ to all states that      through a new advanced instructor training seminar that
requested it,” Pair reported.                                      provides opportunities to network with experienced peers and
The committee is working to ensure that NAMB’s courses are         to practice the newest techniques in adult education. In
approved by all states with licensing and education requirements   addition, the committee and staff developed a database of all
for mortgage brokers and loan officers—and that there is           national faculty instructors and the courses they teach, so that
reciprocity. Nearly all the states in the new NAMB West region     states can contact instructors directly.
that have these requirements have approved NAMB’s four- and        Also this year, the committee increased NAMB’s involvement in
eight-hour courses.That task should be completed by November       Distributive Education Clubs of America (DECA), raising over
07, then the Education Committee will turn its attention to        $100,000 from NAMB state affiliates and $23,500 from the
gaining approvals in the Southeast region in 2008 and the          national organization for DECA scholarships. “That’s 30 percent
Northeast region in 2009.                                          of the total, making NAMB the number one contributor for


    2007,” Pair said. Looking ahead, the committee is planning two                                                  and moved it through its pilot
    additional phases: rolling out a high school internship program                                                 phase to full operational
    with local brokers and developing financial literacy content for                                                status,” he said.
    DECA’s high school curriculum.                                                                                  The GMA exam enables
    Another innovation this year has been the Regional Education                                                    new mortgage brokers and
    Contact—a personal approach to ensuring that state affiliates                                                   loan officers to demonstrate
    have the most current information and contacts about                                                            both their ability to provide top
    educational programs. One contact in each of eight                                                              quality service and their knowledge
    geographical areas provides information on state approval                                                       of the latest products and mortgage
    processes, faculty development, and course changes. “We want                                                    industry trends.
    to ensure that there are multiple channels available to get the                                                 Certification committee
    information the states need,” Pair explained.                                                                   members and subject-matter
    This list of achievements (there isn’t enough room to describe them                                             experts wrote and reviewed
    all here) reflects the substantial time and energy that members have                                            the exam questions, analyzed the results of the pilot (launched
    donated this year, signaling a vibrant Education Committee and a                                                in October 06), and established the passing level.The first
    thriving NAMB education program.At the last quarterly face-to-                                                  operational GMA exam was given in May 2007. “We will be
    face meeting, Pair said, 50 people came, only 28 of whom were                                                   welcoming a number of GMA-certified individuals at the
    officially members.Three more were added on the spot.                                                           convention in Seattle,” Howe said. Now the Certification
                                                                                                                    Committee is working on marketing the new certification to
    What’s Ahead?                                                                                                   ensure that individuals entering the field take advantage of this
    The next major education initiative is underway to develop a                                                    new career opportunity.
    commercial loan education program for a
                                                                                                                                              All of NAMB’s certification
    new member group: commercial brokers.
                                                                                                                                              designations were promoted in a
    The Education Committee is exploring
                                                                                                                                              “Recommend the Best” advertisement
    options for acquiring another 20 to 30
                                                                                                                                              that appeared in the June issue Realtor
    advanced commercial loan education
                                                       NAMB-Certified mortgage professionals have years of proven experience,                 Magazine. Reprints of the ad will be
    courses. “Commercial brokers who put               vast product knowledge, and a commitment to integrity.
                                                       Our rigorous demands go well beyond state licensure requirements
                                                                                                                                              made available to NAMB certified
    together large developments, shopping              to ensure only the best can display the NAMB-Certified
                                                       seal. It must be renewed every three years.
                                                                                                                                              brokers to send to realtors in their
    centers, and apartment projects do not have
                                                                                                                                              area, customers, and others.
    their own national association,” Pair said, “so
    this is an exciting opportunity to expand                                                                                                 The committee also focused on the
    membership—and the education program.”                                                                                                    CMC and CRMS certifications.
                                                                                                                                              Following a new task analysis of the
                                                                                                                                              profession in 2005, the committee
    C E R T I F I C AT I O N
                                                                                                                                              worked this year to update both
    The Certification Committee this year                                                                                                     exams. At an item-writing workshop,
    achieved its chief mission under the                                                                                                      committee members collaborated
    NAMB Strategic Plan, reported chairman                                                                                                    with subject-matter experts to draft
    Bill Howe, CMC, CRMS, president of                                                                                                        new items and revise old ones. “The
    Howe Mortgage Corporation, Phoenix,                                     NAMB offers professional designations for Certified Mortgage      new questions will be beta-tested as
                                                                            Consultants (CMC), our highest honor; and Certified

    AZ. “We developed the new General                                      Residential Mortgage Specialists (CRMS), for those who
                                                                           specialize in home loans. If you see CMC or CRMS after a broker’s
                                                                           name, you can rest assured you’re working with the best.
                                                                                                                                               7900 Westpark Drive T-309
                                                                                                                                              people continue to take the exams,”
                                                                                                                                                      McLean, VA 22102

    Mortgage Associate (GMA) examination                                                                                                      Howe said.

                                  EXAMINATION AND MOVED IT THROUGH ITS PILOT
                                            PHASE TO FULL OPERATIONAL STATUS.”

The next certification initiative is now under way: to plan a         Responding to the foreclosure crisis, NAMB successfully called for
Commercial designation.                                               an independent federal study, Falk reported. “Not satisfied with
More and more members are realizing that certification is             statistical analysis in the marketplace, we felt that independent
valuable.This year, the number of new certificants rose 25            research was needed to find the causes and recommend policy
percent over the year before, and the recertification rate            initiatives,” he said. Success came when House Financial Services
remained strong as well.To spread the word about the value of         Committee Chairman Barney Frank (D-MA) and Ranking
certification for both consumers and members, Howe reported,          Member Spencer Bachus (R-AL) formally requested the
the committee approved a farsighted marketing initiative that         Government Accounting Office to perform such a study.
will help NAMB “build alliances with related associations,            This year NAMB continued its aggressive opposition to the
industry partners, and regulators.”                                   abusive use of affiliated business arrangements. Leadership met
The Certification Committee also completed a number of                with officials at the Department of Housing and Urban
important operational tasks this year: It updated the Certification   Development, builders, trade associations, and consumer
Policy and Procedure manual, and switched to a new vendor             advocates, and the association continues to press for prohibitions.
for test delivery, NAMB certification exams can now be taken          The Government Affairs team also kicked off a major multi-
at over 40 sites across the US.                                       pronged initiative opposing the inappropriate sale of trigger
                                                                      lists by the credit repositories. NAMB met with congressmen,
G O V E R N M E N T A F FA I R S                                      the credit repositories themselves, and interested members of
                                                                      the mortgage industry.The Credit Scoring Subcommittee sent a
The task of the Government Affairs team—committee and
                                                                      letter to members to mobilize support, created a consumer
staff—is to keep up a drumbeat of advocacy on a range of issues
                                                                      brochure, and requested additional funding from membership
to a variety of audiences. “On Capitol Hill, in the Executive
                                                                      to pursue this program.
Branch, and in the corridors of power across the country, NAMB
followed an ambitious policy agenda,” said Government Affairs         In FHA Reform, NAMB is keeping up intense efforts in
Committee Chairman, Joseph Falk, CMC, CRMS of Miami, FL.              Congress. In the 109th Congress, and already in the 110th,
                                                                      FHA reform was passed in the House and included provisions
Throughout the year NAMB leaders testified at an unprecedented
number of hearings: Before the U.S. House of Representatives on
FHA, before the Senate on nontraditional products, and once
before the Senate and twice before the House on Subprime
Market and Foreclosure issues. Last summer and again this spring,
NAMB supplied several panelists to testify at the Federal Reserve
Board hearings on the Home Ownership and Equity Protection
Act. NAMB also presented written congressional testimony for
the record and sent formal statements in the form of letters to
executive departments on these subjects and others, including
financial literacy and identity theft.
In the wake of rising foreclosures, consumer protection
demands, and bankruptcies of mortgage wholesalers that
rocked the industry, NAMB responded with an aggressive
program of action and published the association’s regulatory
agenda as a reference for the 101st Congress, the first such
                                                                      NAMB Legislative Chair Joe Falk (R) with Rep. Barney Frank (D-MA) Chairman
document NAMB has ever published.                                     of the U.S. House Committee on Financial Services.

                                           AN AMBITIOUS POLICY AGENDA.”

    allowing mortgage brokers to                                              At the state level, Falk reported another surge of activity. First
    participate in FHA without a                                              the good news: Since 2002, when NAMB introduced its model
    financial audit.The FHA                                                   state statute initiative called for licensing, education, and

    Subcommittee achieved these                  What happen
                                                      when your               criminal background checks for originators, the association has
    remarkable results, and we await            Credit                        been working with many states to enact legislation.This year,
    passage in the US Senate. In                       Repor t                Alaska became the 50th and final state to pass some form of
    addition, NAMB worked with FHA                  is requested              regulation. However, Falk said, “NAMB is very concerned about
    Commissioner Brian Montgomery                                             a disturbing new trend at the state level. An unprecedented
    and HUD Secretary Alphonso                           STOP THE
                                                                              number of states are considering predatory lending statutes—
                                                            Junk Mail.
    Jackson on promoting their                            STOP THE
                                                                              and some of these bills prohibit certain types of mortgage loan
                                                            Your Credit.
    initiative to expand the FHA                             Your Identity.
                                                                              features and programs.Working with our state affiliates, NAMB
    program, reduce down payments,                                            continues to advocate and assist where we can, to fight off anti-
    and increase loan limits.                                                 broker or anti-consumer legislation.”
    In another major achievement, the VA                                      These are just the highlights of the year’s many activities, Falk
    Subcommittee worked with                                                  said. He stressed that Government Affairs has depended on its
    lawmakers to draft legislation that                                       knowledgeable and resourceful staff, and dedicated
    will allow the Veterans Administration to support a reverse               subcommittee members who have volunteered thousands of
    mortgage program.The bill was introduced in the House of                  hours to its programs and initiatives.
    Representatives by Congressman Michael Michaud (D-ME) and
    Congresswoman Ginny Brown-Waite (R-FL).                                   What’s Ahead?
    Earlier this year, when the Federal Reserve Board sought                  The Two-World Order
    comments from industry on how to protect consumers of                     Industry is just digesting the reality of the far-reaching Watters
    nontraditional products, the Government Affairs Nonprime                  vs.Wachovia Supreme Court decision, and a new regulatory
    Subcommittee swung into action with separate letters on 2/28              landscape is now emerging: On one side are federally chartered
    and 3/27ARMS and on consumer protection issues.                           banks and subsidiaries that are not subject to state supervision,
                                                                              and on the other side is the rest of the community (non-
    In March, more than 400 NAMB members attended the 2007
    Legislative Conference, where Rep. Barney Frank (D-MA),
    Senator Mike Crapo (R-ID), and high-ranking members of the
    Executive Branch discussed RESPA, GSE reform, predatory
    lending, pre-screening, and other issues important to brokers.
    The conference included a full day of lobbying on Capitol Hill.
    (See Conferences and Meetings section for details)
    In major grassroots action, the State Relations Subcommittee
    organized a massive lobbying effort on election night last
    November.They mobilized members to visit hundreds of
    election night parties of federal, state, and local contests—
    wearing buttons identifying themselves as mortgage brokers.
    They achieved a visibility that was noticed across the country
    and will pay big dividends as NAMB continues its efforts on
    Capitol Hill and in state capitols across the nation.                     HUD Assistant Secretary for Housing Brian Montgomery addressed Delegate
                                                                              Council at the Legislative Conference.

                                    WILL ALLOW THE VETERANS ADMINISTRATION TO
                                          SUPPORT A REVERSE MORTGAGE PROGRAM.

                                                                      our members to be above the bar. NAMB has set a higher code
                                                                      of ethics, a higher standard.”
                                                                      Sessions concentrated on setting goals—as did guest speaker,
                                                                      Olympic gold medalist Bruce Jenner—and on being accountable,
                                                                      which was the theme of guest speaker Commander ScottWaddell.
                                                                      Nearly 30 breakout sessions over the 2 ½-day convention covered
                                                                      all aspects of running and growing a business, marketing
                                                                      to new customer groups (from Generation X to seniors),
                                                                      understanding compliance issues, and much more. Nearly a
                                                                      dozen education sessions for NAMB continuing education
                                                                      credits focused on major topics, such as fraud, credit scoring,
                                                                      RESPA, truth in lending, loan prospecting, FHA lending, small
                                                                      commercial lending, reverse mortgages, and more.
NAMB Vice President, Marc Savitt.
                                                                      Further, with such a high percentage of brokers among those
federally chartered banks and mortgage entities) which are            attending, “the affiliates exhibiting there were thrilled with the
subject to federal, state, and local standards of practice.This       response,” Hanzimanolis said.
broad exemption for federally chartered banks threatens to strip      A highlight of the annual convention was the presentation of
away consumer protections across the country for deserving            awards, giving NAMB the chance to recognize those who excel
consumers.The Government Affairs committee is committed to            at promoting the industry, maintaining high ethical standards,
working with law makers and consumer groups to ensure                 and supporting the association.
consumers are not harmed by this decision.                            State Affiliates of the Year Awards, sponsored by Freddie
FRB Plans Truth in Lending Revisions                                  Mac Corporation, are presented to the state affiliates that have
This year, GA Chair Joe Falk was appointed to the Consumer            shown the most membership growth and contributed most to
Advisory Council of the Federal Reserve Board.The Fed has             the industry and their communities.The winners:
broad regulatory authority over Truth in Lending Section 32 and
consumer protection statutes, both of key importance to NAMB
members. In the coming year, the Fed plans to reviseTruth in
Lending—one of the two major laws that govern mortgages—
and Falk is positioned to advocate the position of the Association.

NAMB SOARS, the June 2006 national annual convention in
Philadelphia drew a record crowd of over 4200 participants,
including more than 3000 brokers.
“The entire conference focused on the questions, “How can I
make my business better, and how can I be more professional?”,
explained Convention Committee Chair George Hanzimanolis,
CRMS, of Bankers First Mortgage,Tannersville, PA. “We want             NAMB President-Elect, George Hanzimanolis, CRMS.

                                    “HOW CAN I MAKE MY BUSINESS BETTER, AND
                                        HOW CAN I BE MORE PROFESSIONAL?”

    I  Maine Association of Mortgage Brokers, for states with 300
       members or less
    I Mississippi Association of Mortgage Brokers, for states with
       301-599 members
    I Oregon Association of Mortgage Professionals, for states
       with more than 600 members.
    President’s Award for Merit recognizes those individuals
    whom the NAMB president feels helped him the most during
    the year.The 2006 recipients were:
    I George Hanzimanolis, CRMS, Bankers First Mortgage,
       Tannersville, Pennsylvania
    I John Drake, CRMS, Affirmative Mortgage Solutions,
       Batavia, Ohio
    I Erick Parker, CMC, CRMS,Third Financial Service
       Corporation, Akron, Ohio                                        NAMB President Harry Dinham met with CNN Real Estate Editor Gerri Willis.

    I Kate Crawford, Corporate Investors Mortgage Group,
       Burlington, North Carolina                                      and Matt Weinstein, founder and self-proclaimed emperor of
    Volunteer of the Year: Walter Scott of Excalibur Financial,        Playfair, Inc.
    Wayne, Pennsylvania, received this year’s award as the             The full schedule also included the annual meeting of state
    professional member whose commitment, participation, and           executive directors, which is an important networking and
    dedication to promote NAMB's efforts stood out above the rest.     information sharing opportunity for state representatives.
    Affiliate Company of the Year: First Magnus was                    Seminars focused on small commercial lending and the Real
    recognized for promoting the goals and efforts of NAMB.            Estate Settlement and Procedures Act. Other courses prepared
    Distinguished Industry Service Award: Ruth Faynor,                 participants for NAMB certification. Overall, nearly 20 committees
    CMC, CRMS, FMCS, Sun Coast Consultant, Englewood,                  and subcommittees met, as well as the Board of Directors.
    Florida, was honored for her years of distinguished service to     2007 Legislative Conference
    the association and the industry.
                                                                       More than 400 NAMB members from across the country
    Leadership Award: Joseph Falk, CMC, CRMS, Irian Mortgage           converged on Washington, DC in March for NAMB’s
    Services, Coconut Grove, Florida, was recognized for his           Legislative and Regulatory Conference. Speakers during this
    continued leadership and service to NAMB and its members.          three-day event included Congressman Barney Frank (D-MA),
                                                                       Chairman of the House Committee on Financial Services,
    Leadership and Development Conference
                                                                       Senator Mike Crapo (R-ID), Ranking Member of the Banking,
    The annual Leadership and Development Conference in                Housing, and Urban Affairs Subcommittee on Housing,
    Monterey, California in August 2006 attracted over 170             Transportation, and Community Development, HUD Deputy
    registered participants, mostly volunteers and each a key leader   Secretary Roy Bernardi, FHA Commissioner Brian
    in the governance and work that NAMB does.                         Montgomery, and Lydia Parnes, FTC Director of the Bureau of
    Notable speakers at the conference included Bill Dallas,           Consumer Protection.They discussed RESPA, GSE reform,
    chairman/CEO of Ownit Mortgage Solutions; Mark Alcorn,             predatory lending, pre-screening, and other issues important to
    attorney and management consultant for Alcorn & Associates;        brokers.The program also featured two panels moderated by

                                                  NAMB IS GOING REGIONAL!
                                 THIS YEAR WILL SEE THE FIRST OF NAMB’S NEWLY
                                        CONSTITUTED REGIONAL CONFERENCES.

syndicated real estate columnist Ken Harney and a full day         C O M M U N I C AT I O N S
devoted to lobbying policymakers on Capitol Hill.
                                                                   NAMB’s communications team works in multiple formats and
The Conference drew journalists from the Wall Street Journal,      focuses on many targets—but their function boils down to
Reuters,Washington Post, USA Today, Dow Jones, CBS                 spreading the word: Here’s who we are, here’s what we believe,
Marketwatch, and assorted industry publications.The meeting        and here’s why it’s important.
also introduced NAMB’s a new “How to BuildYour Business”
                                                                   One overarching objective is for NAMB to be recognized by
series, which included presentations by leading members in
                                                                   the media, regulators, legislators, and the public—and this
the industry.
                                                                   year, NAMB’s profile has risen higher than ever, thanks to
What’s Ahead?                                                      intensive efforts, including media tours for NAMB’s leadership.
NAMB is Going Regional!                                            “We’re not in a reactive mode,” said Communications
To better serve members throughout the country, this year will     Committee Chair Ginny Ferguson, Co-Owner of Heritage
see the first of NAMB’s newly constituted regional conferences:    Valley Mortgage in Pleasanton, CA. “We’re out there creating
                                                                   stories, planting seeds, leading the charge on issues we think
NAMB/WEST will debut in November 2007 at the MGM                   are important.We’re getting interview requests on a full-time
Grand Hotel & Casino in Las Vegas.                                 basis, not just responding to events. Over the last two years,
NAMB/SOUTHEAST is scheduled for 2008 in New Orleans.               our presidents have appeared in print and TV, and interviews
NAMB/NORTH will take place in Boston in 2009.                      have been picked up by national and local media. In fact,”
                                                                   Feguson said, “NAMB has become one of the go-to expert
Thereafter, locations will rotate within the Midwest and
                                                                   venues for stories; we’re recognized as part of the large
Northeast regions.
                                                                   industry expert pool.”
Leadership in San Antonio – August 8-12
                                                                   Over the past year media inquiries jumped from 6 in June 2006
The 2007 Leadership and Development Conference is
                                                                   to a high of 35 in April 2007.The average number of inquiries per
scheduled for August 8-12 in San Antonio.The event serves two
                                                                   month more than doubled from just under 9 in 2006 to an
functions: It gives mortgage professionals the chance to
                                                                   average of 21 inquiries each month since January 2007.
develop their business skills, and it offers association leaders
access to programs and services they can use to improve their      The media relations function is based on other people’s
state organizations and their own businesses.                      deadlines—and those are invariably tight. Especially for
                                                                   government affairs issues, a call for action can be urgent and
Leg in ‘08
                                                                   immediate. “The communications team does a great job
The next Legislative and Regulatory Conference is scheduled
                                                                   identifying local leadership willing to drop what they’re doing
for February 2-8, 2008 in Washington, DC.
                                                                   and think about who they know who can help,” Ferguson said.

NAMB spokespeople hit the airwaves on a variety of issues.

                              JOURNAL, REUTERS, WASHINGTON POST, USA TODAY,
                                 DOW JONES, CBS MARKETWATCH, AND ASSORTED
                                                      INDUSTRY PUBLICATIONS.

    One challenge is that the media sometimes wants to talk with              reporters and editors from National Mortgage News,American
    our customers, not just with a NAMB member, she explained.                Banker, Broker Newswire, Broker Magazine, Mortgage Originator, Inside
    For example, a major newspaper may want to talk with a                    Mortgage Finance, Mortgage Press, and NAMB’s flagship publication,
    consumer who has decided to refinance out of a negatively                 NMB Magazine. In addition, editorial meetings were held with
    amortizing loan and get better positioned into a fixed-rate loan.         syndicated real estate columnists, and reporters from a number of
    Or a consumer who, upon requesting a credit report, was not               national news publications.
    only barraged with phone calls, but also suffered potential               The result has been a year of record coverage, and NAMB
    identity theft as a result.                                               spokespeople have been quoted in wire stories from the
    “The communications team manages to ferret out members who                Associated Press, Reuters, Bloomberg News, and Marketwatch; in
    can identify customers who will talk to the media and give life to        national newspapers and news magazines like the Wall Street
    these issues that are so important to                                                                  Journal, NewYork Times, LA Times,
    NAMB,” Ferguson said.                                                                                  Washington Post, USA Today, Money,
    Keeping pace with this stepped-up                                                                      Fortune, BusinessWeek, Ladies Home
    press coverage, the communications                                                                     Journal, and Time; and have appeared
    team has offered more media training                                                                   on radio on Marketplace and All Things
    this year for national and state leaders                                                               Considered; an on TV on CNN, CBS,
    likely to be on the frontline. “These are                                                              NBC, and Fox.
    four-hour sessions with only six                                                                       In addition to working with the media,
    participants, so they can get serious                                                                  Communications is responsible for
    one-on-one training,” Ferguson said.                                                                   producing NMB magazine, NAMB’s
    “They learn to effectively control their                                                               monthly flagship publication; the NAMB
    part of the interview.The training                                                                     website; and the weekly e-newsletter,
    teaches people to stay on point and not                                                                News From NAMB.This year the
    be led onto tangents with unintended                                                                   Communications Committee continued
    results.”                                                                                              its efforts to set NAMB members apart
                                                                                                           from other mortgage originators.
    Where is NAMB covered?                                                                                 Communications staff and committee
    NAMB has always enjoyed a good                                                                         members have been investigating ways to
    relationship with the trade press and that                                                             help the public better understand the
    remained a priority this past year as         Media training prepares NAMB leaders to be               role and value of mortgage brokers.
    well. NAMB leaders met with key               national spokespeople.

                                NAMB HAS ALWAYS ENJOYED A GOOD RELATIONSHIP
                                    WITH THE TRADE PRESS AND THAT REMAINED A
                                                 PRIORITY THIS PAST YEAR AS WELL.

MEMBERSHIP                                                         considerable, Industry Partners take an active role in keeping
                                                                   members informed of new products and services, and trends
“NAMB succeeded in retaining its 27,000-strong membership
                                                                   in the industry” said committee chair George Hanzimanolis.
despite a down-market,” reported Membership Committee
Chairman Walt Scott. of Excalibur Financial, of Wayne, PA.         One example is the Speakers Registry, where experts from
Members were particularly active recruiters, spurred in part by    Industry Partner companies travel to state conferences at their
the committee’s new Member-Get-a-Member Contest                    own expense to discuss particular subjects that will be of
launched in late 2006.                                             interest to members, such as reverse mortgages, and not their
                                                                   own companies.The Registry is a direct member benefit
“In the first quarter of 2007 alone, our members signed up
                                                                   powered by Industry Partners, which grew dramatically this
546 new members,” Scott said. Every quarter, prizes go to the
                                                                   year. “In its first year, most members didn’t know about it,” said
three top recruiters. High flyers who recruit more than 25
                                                                   Hanzimanolis. “In its second year, some state organizations
new members reach the committee’s Platinum Medallion
                                                                   used it for their conventions.The feedback was good.” And
Membership category. So far, 11 NAMB members have
                                                                   during the third year, 2006/7, he estimated that “more than
reached this level.
                                                                   half of the state conventions used the Speakers Registry.”
Also this year, the committee revamped its Strategic Alliance
                                                                   See the list of speakers and specialty subjects on
Program to provide more value to members and raise revenue.
“We’re tightening the program to ensure that companies
                                                                   “Industry Partners provide another continuing benefit,”
offering goods and services deliver on their promises, for
                                                                   Hanzimanolis said. “They are great boosters of the professional
example, to give ‘best discounts’ to NAMB members or to give
                                                                   opportunities NAMB offers. “Not only do they attend our
rebates to the association,” Scott said. We are also vetting
                                                                   meetings, they leverage their constant communications with
companies more carefully.
                                                                   brokers to encourage them to also attend, and they educate
Scott and his committee members are also increasing their          brokers about the importance of belonging to NAMB and its
visits to state affiliates across the country. “The goal is to     state associations.”
continue to open lines of communication with the affiliates and
see what we can do for them,” he said. As a result of these        What’s Ahead
visits, the New Hampshire chapter of the Mortgage Bankers          In keeping with NAMB’s move to regional meetings, the
Association agreed to become a new affiliate of NAMB.              Industry Partners Committee developed a new Regional
                                                                   Industry Partnership Program, to be introduced at the June 07
What’s Ahead?                                                      convention.
The Committee’s new diversity initiative will launch its first
                                                                   “These new regional partners are likely to include large title
program in Oakland in July.The initiative has a two-fold
                                                                   companies and credit reporting companies, among others—
mission: (1) to develop a more diverse NAMB membership and
                                                                   businesses that are major players within their own regions,”
(2) to educate consumers of various ethnic backgrounds about
                                                                   explained Hanzimanolis.
planning to buy a house and the options that are available. An
additional goal of the diversity events is to give brokers more    Another new focus, he said, will be to include large home
tools and better tools to help them serve their communities.       improvement companies that may want to offer benefits to
                                                                   brokers, who can pass those benefits on to their clients. “We’ve
                                                                   been thinking about people we could deal with more often, but
                                                                   don’t yet,” Hanzimanolis said, “Our goal is to find creative ways
NAMB’s Industry Partners program continued its success at          to continually improve the ways Industry Partners can help
attracting national corporate sponsors to support NAMB and         serve our members.”
its members. “In addition to their financial support, which is

                                  REALLY CARES ABOUT THE SMALL BROKER.”
                                                       — DEBRA KILLIEN, CRMS
                                  NAMB 2006-2007 Industry Partners

                                                 Double Platinum
                                             Wells Fargo Home Mortgage
                                                     First Magnus
                                       Countrywide, America’s Wholesale Lender
                                         New Century Mortgage Corporation

                                              American Brokers Conduit
                                                    Fannie Mae
                                                    Freddie Mac
                                                   Decision One
                                                Washington Mutual

                                              1st Metropolitan Mortgage
                                            Carteret Mortgage Corporation
                                                 Chase Home Finance
                                            Genworth Mortgage Insurance
                                                   InterBay Funding
                                                  Vanguard Mortgage

                                                  CitiMortgage, Inc.
                                                     IndyMac Bank
                                              National City Home Equity
                                             PMI Mortgage Insurance Co.
                                                  Silver Hill Financial

                                              Aegis Mortgage Corporation
                                                    Bank of America
                                                        Ellie Mae
                                          First American Real Estate Solutions
                                                 OptionOne Mortgage
                                                  Saxon Mortgage Inc.
                                                   SunTrust Mortgage
                                               Veracity Credit Consultants

7900 Westpark Drive, Suite T309   I   McLean, VA 22102   I   Phone: (703) 342-5900   I   Fax: (703) 342-5905   I   www.namb.org

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