NAMB Undeterred on Licensing

The National Association of Mortgage Brokers hasn't had any success in persuading state legislators or regulators to adopt the model licensing statute it proposed a year ago.But that hasn't deterred the fast-growing 16,000-member group from pushing lawmakers to require that all originators within their purview pass criminal background checks, meet minimum educational requirements to obtain a license, and fulfill continuing educational requirements to retain their certificates. "We're going to continue working with our state affiliates until all originators in all 50 states are licensed," past president Joseph Falk told MortgageWire at the NAMB's convention in Baltimore. Some states, most notably Nevada, have amended their laws to embody some of the same principles supported by the NAMB. But for the most part, they've acted on their own without any prodding from the association or its state affiliates. Mr. Falk said that in some states the NAMB is running into opposition from mortgage banking and depository groups that object to licensing. But in what he called his "main frustration," he said the group's affiliates in other states have yet to press the issue. Currently, the NAMB is working to advance its model licensing law in just six states.