Peter Fugaro Earns Certified Mortgage Banking (CMB) Designation from Mortgage Bankers Association

by 25 Aug 2011
Greensboro, NC (August 24, 2011) – The Mortgage Bankers Association (MBA) has awarded Peter Fugaro, President of Prymak, a mortgage technology and marketing consulting firm, the Certified   Mortgage   Banker   (CMB)   designation.   Fugaro   joins   a   select   number   of   real   estate finance professionals who have exhibited their superior knowledge, understanding and competency in  residential and/or commercial       real estate finance by earning the CMB designation.   The CMB, the highest professional designation for the real estate finance industry, will be presented to Fugaro at a ceremony held at MBA's 98th Annual Convention & Expo in Chicago, Illinois. CMB candidates must amass 150 points earned through a combination of professional experience, continuing education and industry anticipation through MBA-sponsored events and CampusMBA courses.  After accumulating the required points and passing a comprehensive written exam,  candidates must demonstrate industry knowledge by passing an oral exam conducted by a panel of Certified Mortgage Bankers. According to Andy Stack, associate vice president of MBA Education and Business Development, more than 1000 mortgage banking   professionals have received the CMB designation since its inception in 1973. MBA Chairman Michael E. Berman, CMB, said, " Whether you are new to the industry or have been   working in mortgage finance for many years,  earning the CMB designation is critical in distinguishing you and your ability to advance in these dynamic times.  Earning my CMB as a seasoned executive game me an opportunity to sharpen my knowledge of every aspect of the mortgage arena while offering me a broader  perspective on industry developments and changes. I am very proud to be among the ranks of such a respected group of professionals committed to preserving the integrity of the important work we do." Designation candidates have the option of choosing among the Commercial CMB, Residential CMB or Master CMB designations. The Master CMB is a combination of both commercial and residential   mortgage   banking   disciplines,   while   the   Residential   CMB   and   Commercial   CMB focus on their respective subfields of the mortgage industry. Candidates must either work for an MBA member company or be a member of a recognized state MBA.


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