Frequently Asked Questions

FAQ

1. Q. What is the Lending Integrity Seal of Approval? 

A: The Lending Integrity Seal of Approval symbolizes the highest standard of integrity in the lending business. Mortgage professionals who display it have been through a rigorous validation process and meet NAMB’s rigorous national standard for ethics, professionalism, integrity and service. 

2. Q. Who can apply to display the Lending Integrity Seal of Approval? 

A. Mortgage brokers and loan officers who are NAMB members in the “Professional” and “Loan Originator” membership categories are the only people eligible to display the Lending Integrity Seal. 

3. Q. What is the benefit of the Lending Integrity Seal of Approval? 

The image of the Seal sends a powerful message. Individuals who have qualified to display it distinguish themselves from other originators, and it gives the public an instant indication of how the person displaying it intends to conduct their business. 

4. Q. What do I need to do to apply for the Seal? 

A: The Lending Integrity Seal is earned by meeting requirements that include professional education including ethics training, a criminal background check, a pledge to adhere to the NAMB Code of Ethics, three business references and more. The Seal establishes the first national standard for mortgage originators. Since state licensure requirements vary; an individual’s new requirements will vary from state to state. Contact the NAMB affiliate in your state for an application, or visit www.LendingIntegrity.org. 

5. Q. How do the requirements for the Seal differ from Certification? 

A. The Lending Integrity Seal of Approval requires that mortgage originators meet broad standards that take into account past behavior and reputation, continuing education, ethics training, and a pledge to adhere to NAMB’s ethics policies and standards of business practices. Certification focuses on professional development and recognizes mortgage professionals who pass a written examination and meet requirements of experience and knowledge in the mortgage origination field. 

6. Q. Do you have to be certified to obtain the Seal? 

A. NAMB certification is not required to display the seal, however, NAMB members who have a current Certified Mortgage Consultant (CMC) and/or Certified Residential Mortgage Specialist (CRMS) certification automatically meet the Lending Integrity Education requirement by attending the professional education required to maintain these designations. Proof of ethics training would still be required. 

7. Q. What are the new education requirements? 

A. Professional members and loan originators who wish to display the Lending Integrity Seal are required to attend six hours of professional education each year, and two hours of ethics every two years or depending on the term of their state license or registration. 

8. Q. What type of background checks will be necessary? 

A. This requirement is automatically met by anyone who is licensed in a state where a background check is part of the state licensure requirements. If your state requires a disclosure or no background check, a National Background Check will be required. 

9. Q. From whom can I get the letters of reference? 

A. References should be business related. Mortgage Brokers should seek references from a lender, real estate agent, title company, etc. Loan Officers should seek references from a previous supervisor, sponsoring Professional NAMB member, real estate agent, etc. 

10. Q. How soon can I get the Lending Integrity Seal of Approval? 

A. The Seal will available for qualified NAMB members to display in early 2008. 

11. Q. Is the displaying the Seal mandatory or voluntary? 

A. Meeting the Lending Integrity Criteria is voluntary until December 2008. Starting January 1, 2009, all new and renewing members in NAMB’s ‘Professional’ and ‘Loan Originator’ categories will have to meet these requirements in order to qualify for NAMB membership. 

12. Q. What is the cost of the Lending Integrity Seal of Approval? 

There is no fee to display the Lending Integrity Seal or to use the materials NAMB has developed for it., Members do pay a fee to join their State Association and NAMB. 

13. Q. How will the Lending Integrity Seal be marketed? 

NAMB has developed print and radio advertisements for states and members to run in newspapers, industry publications and local radio stations. Lending Integrity members will have access to a variety of promotional materials, including pre-drafted customer letters and press releases. Find them at www.lendingintegrity.org. 

14. Q. How is it protected against misuse? 

A. The integrity of Seal will come from those who have earned the privilege to display it, and they will be fiercely protective of it. NAMB members, state affiliates, and NAMB will keep a careful eye out to ensure only those who have gone through the rigorous process of earning the Seal are the only ones using it! 

If unauthorized use of the seal is discovered, the State Association will follow the same procedures as when an individual misrepresents their membership status, which can ultimately result in formal legal action. If misconduct is reported or a formal complaint filed against a holder of the Lending Integrity Seal, the State Association’s Ethics Committee is empowered to review the complaints and make a determination that could lead to expulsion from the State and National associations. 

15. Q. Is this information available on the NAMB website? 

A. Find this FAQ and more at www.lendingintegrity.org. 

Last Update: October 31, 2007