Professional Standards & Best Lending Practices

of the National Association of Mortgage Brokers

In addition to its Code of Ethics, NAMB’s Professional Standards & Besting Lending

Practices are guidelines that NAMB members are required to follow in assisting consumers through the mortgage origination process. Adherence to these standards will assure consumers that the member is acting professionally and without exerting or succumbing to pressure, influence or other tactics that seek to circumvent mortgage industry ethics & professional standards. Some guidelines may go beyond legal requirements, and are designed to emphasize the adherence to principles that consumers should expect when choosing a mortgage broker.

As members of NAMB, we promise our customers that we will:

Offer rates and fees that are not discriminatory based on race, color, religion, national origin, gender, marital status, sexual preference, or disability;

Abide by all federal and state regulations pertaining to the mortgage lending industry, and Federal Lending Statutes;

Disclose accurate information in all solicitations and advertising;

Discuss and explain financing program options;

Inform you of lock-in options, and provide you with a written document which states your loan terms and rate, whether floating or locked;

Explain all documents of the loan application;

Explain all costs associated with the loan transaction;

Explain the disbursement of fees collected at application;

Explain the loan process, from application to closing;

Charge only those fees disclosed or re-disclosed on your Good Faith Estimate;

Communicate with you throughout the loan process in a timely manner;

Provide to you a written agreement, which explains the nature of our relationship with you and how we are compensated in this transaction;

Not engage in or respond to any pressure or influence from any party that seeks to circumvent professional industry standards, guidelines, rules or regulations in a mortgage transaction.