‘Tennessee Mortgage Broker Day’ a success in raising awareness, promoting integrity in lending
Nashville, TN– For two out of every three Tennessee home buyers, mortgage brokers play a critical role in the financing process that allows them to make the American dream a reality.
Ensuring that integrity and professionalism are a part of that process is the prime goal for members of the Tennessee Mortgage Brokers Association (TNAMB), who gathered recently on Capitol Hill for an event designed to boost awareness of the role brokers play and draw attention to critical issues facing the lending industry.
“Tennessee Mortgage Broker Day” was highlighted by meetings with state lawmakers and climaxed by a ceremony in which Gov. Phil Bredesen made the event official with his signature on a proclamation celebrating the role mortgage brokers play in helping millions of Americans realize the dream of home ownership.
Brian C. Short, president of the Tennessee Association of Mortgage Brokers, said the Feb. 13 event was an opportunity to highlight the work that is being done to raise the level of professionalism in the mortgage industry.
“We are extremely proud of our profession and the work we do,” Short said. “Raising public awareness about the lending process is one of the challenges we face, and part of that means communicating with lawmakers and state officials. We’re deeply committed to promoting a code of ethics that we follow in order to protect the consumer as this industry continues to grow and become increasingly complex.”
A mortgage broker is an independent real estate financing professional who specializes in the origination of residential and/or commercial mortgages. Mortgage broker operations employ more than 400,000 people across the nation and originate 68 percent of all residential loans in the United States.
A mortgage broker is also an independent contractor who markets and originates loans offered by a variety of wholesale lenders. By offering direct access to many different loan programs, a mortgage broker provides the consumer with the most efficient and cost-effective means of obtaining the right residential loan.
The Tennessee Mortgage Broker Day proclamation pointed out that home ownership in the state is at an all-time high, thanks in part to the work of mortgage brokers. “Tennessee’s mortgage brokers play an important role in our society and our economy, helping consumers in the Volunteer State realize the dream of home ownership,” the proclamation states.
“Helping individuals realize the dream of home ownership is what mortgage brokers are all about,” Short said. “As the professional association representing more than 20,000 loan originators in our state, it’s part of our duty to make sure that decision-makers on the state government level are aware of the needs of this industry.”
TNAMB serves the mortgage broker industry by raising the level of professionalism through educational opportunities and by providing news and information to its members about legislative issues, new laws and regulations. For more information, visit TNAMB on the Web at www.tnamb.org.
For more information or to interview a mortgage broker in your area contact Lance McKerley at (615) 595-1444 or info@mckerleycommunications.com.
