The CFPB wants to see Data If you have not done so already CLICK HERE to take the short 9 question survey.
Recently the NAMB Government Affairs team met with the CFPB to discuss mortgage brokerage compensation, the 3% cap on points and fees, as well as loan origination compensation. The CFPB provided excellent industry insight and guidance into several of the key areas plaguing mortgage originators and mortgage brokerage entities.
It is obvious the CFPB is a data driven organization and NAMB is determined to show them that the mortgage broker model is extremely effective in mitigating upfront costs for consumers. We are also determined to show them that thousands of small businesses are being adversely impacted due to the limitation on entity revenue.
So here we are. Your industry needs your help. Your industry needs you to participate and respond to this survey to the best of your ability. If you don’t have exact numbers, please provide us your best estimate. The major data points that NAMB would like to see are (1) TOTAL number of loans closed in YTD; (2) TOTAL Dollar Volume of your loans YTD; (3) TOTAL amount of mortgage rebates that you gave to the customer to help pay their closing costs YTD. This amount will be the sheet price of the loan, minus your Lender Comp, minus any hits and this would be the net amount that you would have given back to the customer to help pay fees and reduce closing costs.
Prize Incentive: EACH PARTICIPANT WILL RECEIVE THE VIDEO WEBINAR “GETTING MORE BUSINESS WITH REALTORS”(BY : Maximum Acceleration). IN ADDITION, MORTGAGE EDUCATORS will give away 5 8-hr NMLS classes to be used for 2014 or 2015
UPCOMING EVENTS FOR
May 3-5, 2015 NAMB Legislative Conference (Washington D.C.)
July 2015 – ANNUAL HAWAII HAMB STATE CONFERENCE Please watch for future updates regarding venue. This will be the 8-hr CEU courses to include the 1-hr Hawaii CEU
October 17-19, 2015 (Tent. Date) – NAMB NATIONAL CONFERENCE Please watch for future updates regarding venue and Hotel
Completed Events 2014
Date: February 21, 2014 - Friday “State of the Economy”
Date: March 26, 2014 – “Biggerst Waters Flood Insurance Reform Act of 2012 (BW12)
Date: April 18 Seminar – Cancelled
Date: May 23 Friday - VA Refresher Workshop
Date: June – Monthly event cancelled
Date: July 25 Friday – “Ocean Front Properties – Red Flags”
Date: August 28, 2014 – 23rd Annual State HAMB Conference
Date: October 29, 2014 – “HART Update – Rail & Confirmation of 2015 HAMB Slate”
Date: December 5, 2014 – Annual HAMB Holiday Party – CANCELLED due to low registration and lack of interest