Education is one of the cornerstones of CAMB, another is legislation. If one looks at the typical profile of the Mortgage Broker that gets involved with CAMB, one would find an originator that is concerned with the ethical and compliant treatment of their customers. In order to maintain compliance with the ever changing laws an originator needs to constantly learn and sometimes relearn about new products, programs, in addition to State and Federal laws. Originators that have a low regard for the industry and their clients will not be concerned with maintaining and improving their skills. It goes hand in hand, a smarter originator is definitely a better originator. CAMB and NAMB offer wonderful educational opportunities, take advantage of them. An educated originator is our best representative.
CMC
To Become a Certified Mortgage Consultant, the applicant must meet the following requirements:
Have at least five (5) years of work experience in the mortgage industry.
Document at least 100 qualifying points through work experience, education, other professional designations, continuing education activities, and leadership and participation in the industry.
Take and pass the written CMC examination within one (1) year after being deemed eligible.
To Become a Certified Residential Mortgage Specialist, the applicant must meet the following requirements:
Have at least two (2) years of work experience in the mortgage industry.
Document at least 50 qualifying points through work experience, formal academic education, other professional designations, mortgage-related educational activities, and leadership and participation in the industry.
Take and pass the written CRMS examination within one (1) year after being deemed eligible.
There are tens of thousands of mortgage originators in California, but how many are truly professional consultants? If you're a member of CAMB, you've already made the commitment to be one of the best at your vocation. Certification is merely the next logical step in your professional development. Improve yourself and improve your clients experience by obtaining your CMC or CRMS! A side note; CMC's earn as much as 54 percent more than non CMC certified originators, and CRMS's earn approximately 21 percent more than non CRMS certified originators.” Bob Schwab, CMC
“The product we sell is a commodity. The way we differentiate the commodity is through customer service. The designation allows for another level of differentiation. In addition to all of the above it gives me a sense of personal pride in my achievement.” Guy Schwartz, CMC
Having been one of the first seven brokers in the country to achieve my CMC designation under the current system is a huge point of personal pride in the accomplishment! A national designation is truly a qualifier for some consumers when selecting a loan consultant. An example of this was a cold call about 2 years ago from a physicist out at Sandia National Laboratory in Livermore. He and his wife, a chemist at Lawrence Livermore Laboratory were looking to buy a home in Berkeley, CA. I asked how they happened to call me and was told that he had found me listed on the NAMB website under ‘find a Broker' and because I had a National designation he had chosen to contact me. His realtor was in Berkeley and no one I had ever worked with, so under normal circumstances I would never have had this client. They purchased a $800,000 home in Berkeley using a 1st & 2nd combo. 15 months later they refinanced with me, consolidating the 1st & 2nd into one single loan and cashing out to payoff three student loans. From one call motivated by my CMC, over 1.5 million dollars in loan volume was generated! Ginny Ferguson, CMC
Industry Professionals
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