Savitt Resigns from NAMB Board

Mark Savitt, the immediate past president of the National Association of Mortgage Brokers — and who recently launched a new trade group — has resigned from NAMB's board of directors, effective immediately. Mr. Savitt said his resignation from NAMB was his own decision but declined to comment further except to say this week he is meeting with government representatives on two key issues facing the industry: the Home Valuation Code of Conduct, and yield spread premiums. Mr. Savitt's new trade group is called the National Association of Independent Housing Professionals. He is president and CEO of the group, which officially launched two weeks ago. At NAMB, George Hanzimanolis, who was the organization's president in 2007- 2008, has been appointed to fill out Mr. Savitt's term and will serve as chairman of NAMB's nominating committee. No reason was given in a statement issued by NAMB.