NAMB Launches Integrity Seal

The National Association of Mortgage Brokers has officially launched its "Lending Integrity Seal of Approval" at an NAMB West news conference, where association officials described it as going beyond federal, state, and other industry requirements.Among the requirements for the seal are: three business references; passing a national criminal background check; professional education training that includes instruction in ethics; agreeing to abide by the NAMB's formal ethics grievance review process; and a current state-issued mortgage license or registration. Asked about the seal's relationship to developments in Washington, where at least two proposed changes to industry rules have raised concerns among brokers, NAMB president George Hanzimanolis said it "wasn't done to send a message to Congress," but rather because the association "saw a need on the consumer side." However, Mr. Hanzimanolis said he believes Congress will see the NAMB's seal as a positive move. The NAMB can be found online at http://www.namb.org.