The trade group that used to exclusively represent residential mortgage brokers when the market was much stronger is taking new steps to broaden its reach.
Data from Wholesale Access Mortgage Research & Consulting Inc. indicate that brokers garnered as much as a two-thirds market share in some years before the financial crisis.
Back then, NAMB was known as the National Association of Mortgage Brokers. But after the crisis, the trade group became known as the National Association of Mortgage Professionals.
More recently, the organization has been going just by “NAMB.”
But the association, which was founded in 1973, now wants to be even more inviting for non-brokers.
According to NAMB President Fred Kreger, “A lot of people don’t realize that NAMB is not limited to brokers.”
NAMB’s members include
individual loan originators. They also include small and mid-sized origination businesses like mortgage bankers and correspondent lenders.
The group is re-branding with a new logo divided into five segments representing the five NAMB regions of the country.
In addition, it is launching a
marketing campaign to reinforce its “emphasis on each member’s individuality and freedom to define its own business and focus.”