New NAMB Prez Wants More Diversity

The newly elected president of the National Association of Mortgage Brokers, Ohio broker Jim Nabors, wants to add a little cultural diversity to the 27,000-member association. "We don't have enough minority or women members," he said at the NAMB's annual convention in Minneapolis. Mr. Nabors, who describes himself as a "blue-collar guy living a white-collar life," said he intends to reach out to the National Association of Hispanic Real Estate Professionals and the National Association of Professional Mortgage Women. "We've had very little contact" with the two groups, "but we have a lot in common with them," he said. "We need to take advantage of that." Mr. Nabors also wants to expand his group's educational programs, including classes aimed at Capitol Hill staffers and consumer advocates. "The more they understand what we do, the less problems we will run into," he told a press briefing at the convention. "'You know what you've heard, now here's what we really do'." Other objectives are to persuade the Federal Housing Administration to give loan brokers a direct interface with its automated underwriting software, and to allow originators to buy surety bonds rather than submit audited financial statements to demonstrate financial integrity.