. The goal was to create an organization that educated mortgage professional
, empowered the community, and lobbied the government on mortgage related concerns. At the end of the first year and a half the association had members in seven states. Also it had given fourteen social functions successfully including a second annual Wholesale, Education and Lending Fair. The main reason she formed the association was because although the other mortgage association appeared adequate they did not seem successful at attracting people of color, (not just African-Americans but other ethnicities as well). I felt because of the current market conditions the African- American mortgage originator community needed to have a more dedicated association to respond to their needs?.and that?s how we began. What were some the first steps of the Organization? I knew that an association like this was needed and that it must be based on Education and open to all originators. To ensure that that NABMB project would take off I relied on peer support. I talked to mortgage brokers that have been in the business for a long time to tell them what I was thinking about and ask for their feedback. Our first NABMB meeting held had approximately 30 people and from that meeting came the development of the mission and vision statement. NABMB?s mission is to empower and educate its members and the African-American community. The goal is to educate a trio of different constituencies: mortgage professionals on originating mortgage products; educating the community about mortgage products and services, and educating elected officials on the pressing community issues that affect the mortgage and real estate industry. Our vision is to ultimately be seen by the community as trusted mortgage professionals who bring value and honor to services rendered. Where do you see yourself now? The roadmap is still a work in progress. NABMB is following on the footsteps of similar organizations such as the National Hispanic Association of Real Estate Professionals, the National Council of La Raz and the Asian Real Estate Association of America. Much like these other organizations, NABMB is looking forward to becoming an equally effective organization capable of bringing positive change to communities across the country. And again, like these other associations who are dedicated to a certain ethnicity, we are open and welcome all originators regardless of their race or ethnicity. Are associations needed in the wholesale lending space? The need is great! With an industry that is changing daily, associations like the NABMB help to keep its members up to date on the changes in the market, new legislation and products. With bills like HR.3221 that require all originators to be licensed in order to originate mortgages adds to this need. NABMB has a National partnership with a company called Financial Strategies that allow all of our members? discounts on classes for their licensing. We also have weekly success calls and annual trade shows that are dedicated to educating our members and others interested in learning more about the industry. What are some of the challenges facing the Organization? Since we are a new organization, been in existence just over 2 years, we are faced with the questions of whether we will stay in business or go by the way side. We always answer our critics by stating that we will continue to serve our members for as long as there is a need. We also tell our critics that we plan to stay around as long as our services are needed. With a strained mortgage industry and with so many people exiting the industry we feel that an association like ours is needed to help people stay in this business. Although there are other organizations that provide similar services we believe our uniqueness attracts people of all ethnicities. What are the plans to Expand? NABMB started out in the area around the nation?s capital. We have formed actual chapters in the District of Columbia, Maryland and the state of Virginia. We hope to expand our chapters to North Carolina, Georgia, Florida and Tennessee where we have smaller memberships. Our goal is to grow nationally. We would like to have a chapter in every state that we have active members. We are, however, being very cautious, and our growth should be limited (steady, not fast). Obviously, with the market being very uncertain right now we do not want to mis-step by jumping into too many states too quickly. What are the organizations future goals? We are very excited about the future of the wholesale lending arena. Our crystal ball says that 2009 will be a better year. We are working on getting our organization prepared for changes coming to this industry and the influx of new originators coming into the business that will be looking to an association like ours to keep them abreast of these changes.
The Niche Report would like to present you to an association that has recently come on to the mortgage scene. The National Association of Black Mortgage Brokers was created by Joy Jamison, (Founder), as she was meeting with friends in organizations like the Maryland Association of Mortgage Brokers and National Association of Mortgage Brokers. During those meetings she realized the need for an African American centered association to promote and educate originators and the community on mortgage products and services. She took that opportunity and formed the National Association of Black Mortgage brokers. Joy, how did the organization start? It started with an aspiration that eventually turned into a roadmap. The idea to create an association that would bring together African-American