CoAMP Standards and Ethics

Professional Standards & Best Lending Practices


As an appendage to its Code of Ethics, NAMB’s Professional Standards & Besting Lending Practices are guidelines that NAMB members are expected to follow in assisting consumers through the mortgage origination process. Adherence to these standards will assure consumers that the member is acting professionally, without exerting or succumbing to pressure, influence or other tactics that seek to circumvent mortgage industry ethics & professional standards. Some guidelines may go beyond legal requirements, and are designed to emphasize the adherence to principles that consumers should expect when choosing a mortgage broker.


As a member of NAMB I pledge to:

  • Abide by federal and state regulations pertaining to the mortgage lending industry;

  • Offer rates and fees to all equally without discrimination based on race, color, religion, national origin, gender, marital status, sexual preference, or disability;

  • Refrain from engaging in or responding to any party that seeks to circumvent professional industry standards, guidelines, rules or regulations in a mortgage transaction;

  • Charge only those fees disclosed or re-disclosed on the Good Faith Estimate;

  • Provide accurate and complete information in all solicitations and advertising;

  • Provide a written agreement, which explains the nature of the business and how I am compensated in this transaction;

  • Inform client of lock-in options, and provide a written document which states loan terms and rate, and whether the rate is floating or locked;

  • Disclose and explain all costs associated with the loan transaction;

  • Explain the loan application and associated disclosures and documents;

  • Present and explain all programs and pricing options;

  • Explain the loan process from application to closing;

  • Maintain open communication throughout the loan process.

Code of Ethics


The Members of NAMB - The Association of Mortgage Professionals, believing that the interests of the public and private sector are best served through the voluntary observance of ethical standards of practice, here by subscribe to the following Code of Ethics.


HONESTY AND INTEGRITY


NAMB Members shall conduct business in a manner reflecting honesty, honor, and integrity.


PROFESSIONAL CONDUCT


NAMB Members shall conduct business in a professional manner. Members shall not pressure any provider of services, goods or facilities to circumvent industry professional standards. Equally, Members shall not respond to any such pressure placed upon them.


HONESTY IN ADVERTISING


NAMB Members shall provide accurate information in all advertisements and solicitations.


CONFIDENTIALITY


NAMB Members shall not disclose unauthorized confidential information.


COMPLIANCE WITH LAW


NAMB Members shall conduct their business in compliance with all applicable laws and regulations


DISCLOSURE OF FINANCIAL INTERESTS


NAMB Members shall disclose any equity or financial interest they may have in the collateral being offered to secure a loan.


© 2014 Colorado Association of Mortgage Professionals

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