Retiring NAMB Chief Reflects on Tenure

In his final session as president of the National Association of Mortgage Brokers, Bob Armbruster said raising the visibility and stature of the organization and laying the foundation for self-management were among the few things he tried to accomplish in his short time as head of the group.Addressing the situation between Congress and the government-sponsored enterprises, Mr. Armbruster told attendees at the group's annual convention in Minneapolis that "there is nothing wrong with the mortgage delivery system." The NAMB continues to support the GSEs in their fight, he said because Fannie Mae and Freddie Mac play an integral role in the housing system. Mr. Armbruster wrapped up his speech by saying "the era of Bob is over and the era of Jim begins," referring to incoming NAMB president Jim Nabors. He added: "It has been a blast."