NAMB Pledges $325K to Brokers Hit by Katrina

The National Association of Mortgage Brokers has committed $325,000 to the NAMB Hurricane Relief Fund created to assist NAMB mortgage brokers and other members affected by Hurricane Katrina.The board of directors approved the action to help members who lost homes and businesses in Alabama, Louisiana, Mississippi, and parts of Florida. "Because the vast majority of mortgage brokers are small-business people serving their local communities, Hurricane Katrina was catastrophic to them in many ways," said NAMB president Jim Nabors. "Many lost their homes, their offices, and their markets. The board saw immediately the impact this would have on our members, and we are determined to offer as much help as possible." Contributions are also pouring in from individual states. The California Association of Mortgage Brokers has contributed $25,000 to the fund and other NAMB state affiliates and industry partners are embracing the relief campaign, the organization said. The NAMB can be found online at http://www.namb.org.