Harrisburg, PA – January 3, 2008 – In today’s market, it is more important than ever to protect consumers during the home-buying and refinancing process. In that regard, the National Association of Mortgage Brokers (NAMB) has created the Lending Integrity Seal of Approval, which is available to members of its local state affiliates, including the Pennsylvania Association of Mortgage Brokers (PAMB).
The Lending Integrity Seal of Approval is a new tool to help consumers identify those industry professionals who meet the highest ethical lending standards – knowledge, professionalism, ethics and integrity. By introducing the Lending Integrity Seal of Approval, mortgage brokers and loan officers are taking a voluntary next step to transform the mortgage industry and help consumers identify those professionals who meet these standards by displaying the seal in their offices, on their business cards and company marketing materials.
PAMB members must earn the right to display the Lending Integrity Seal of Approval by completing the following:
- Be a current member of PAMB and NAMB
- Possess a current state-issued mortgage license or registration
- Submit three business references to the PAMB office
- Pass a national criminal background check
- Attend professional education training, including ethics training
- Adhere to PAMB Code of Ethics and NAMB Standards of Best Business Practices
- Abide by PAMB and NAMB’s formal ethics grievance review process
“PAMB is working diligently with our legislators, regulators and members to facilitate the implementation of these requirements and we are pleased to be a part of this important nationwide initiative,” said PAMB President Frank Bowersox.
For additional consumer information, visit www.pamb.org.
Brent Roberts or Brooke Highline
Merton G. Silbar Public Relations