The Massachusetts Mortgage Bankers Association has announced it will provide the Certified Mortgage Professional designation for qualified and continuing candidates through its MMBA Learning Center located in Burlington.

The MMBA Education Committee will serve as the primary resource for the identification and production of programs and seminars leading to an industry-wide accepted certification. Educational programming will include “Management Development Programs in Residential Lending.” That offering consists of Course One, aimed at employees with less than a year’s experience, and introduces students to a variety of topics and activities associated with residential mortgage lending. It serves as the core curriculum for Courses Two and Three. Course Two is geared toward experienced mortgage origination, underwriting and processing professionals, who are familiar with all elements of the transaction, including secondary-market lending guidelines. Course Three features in-depth discussions and lectures by experienced professionals in the residential mortgage-lending field, providing opportunity to increase knowledge of current and emerging trends in the industry.

In addition, MMBA will offer quarterly module training in technology, compliance and business ethics, as well as industry “hot topics” such as fair lending practices, and policies and procedures, including products and pricing.

Professional certification is one of the many responses to current industry market trends. MMBA has boosted its educational offerings, including Web-based learning and classroom training through its designated Learning Center. The association also provides its members with up-to-date technological implementations, mortgage compliance training and professional ethics.

‘A Front-Line Evaluation’
Robert Lavelle, senior vice president in lending at Natick-based Middlesex Savings Bank, MMBA chairman-elect and former Education Committee chairman and co-architect of the CMP Certification program, said, “Upon completion of the program, the Certified Mortgage Professionals will have a sound foundation in the principles of mortgage banking, business practice and business ethics with an emphasis on ethics to best satisfy the consumers’ evolving needs. It is our hope that all consumers in the commonwealth will benefit from their interaction with these mortgage professionals who have achieved this distinction.

“From the employee’s standpoint, the mortgage professional will have an incentive to remain in the program since it will contribute to their success with the consumer and their employer. Beyond the classroom education, he says the networking contacts will continue to benefit the students throughout their mortgage banking career.”

Amy Tierce, Education Committee co-chairwoman, said the entire MMBA course curriculum has been reviewed and adapted as the business has evolved.

“There has never been a significant barrier to entry in the mortgage business,” she said. “In today’s marketplace, as real estate prices and loan amounts get higher, we owe it to our consumers to advise them of their choices and not simply to get them a mortgage at any cost. It is our hope that the loan officer becomes a financial advisor specializing in mortgages. Certification is the best way to assure that loan officers and mortgage brokers put the interests of the consumer first.”

On an ongoing basis, MMBA will evaluate the course curriculum in light of market trends to make sure that the education program stays current.

“MMBA will survey the industry and stay in close communication with our nonprofit partners and industry regulators in order to offer the most current and appropriate training to our professionals before any inappropriate lending patterns develop,” said Kevin M. Cuff, MMBA executive director. “Not only is it the association’s intent to educate the industry, but we hope to provide a front-line evaluation of professional practice in order to assure the consumer’s trust and the integrity of the industry.”

Founded in 1976, MMBA is one of the largest mortgage associations throughout the country, with nearly 400 corporate members.