The California Association of Mortgage
Brokers (CAMB) is a nonprofit, professional trade organization
consisting of licensed real estate brokers, salespersons, and
affiliated lenders whose primary business is assisting consumers
in obtaining personal and commercial real estate financing, and
brokering conventional mortgage loans. The association is
organized into 14 regional chapters throughout California. Each
chapter is governed by a local board of directors and volunteer
members, and holds regular meetings and various activities for
its members. CAMB members meet frequently throughout the year at
forums, such as the association's annual convention and sales
and marketing conference, held in different parts of the state.
The association’s primary activities are: (1)
providing mortgage brokers with accredited continuing
educational opportunities and enrichment programs designed to
raise industry standards and customer service; (2) strengthening
consumer awareness of mortgage broker services; (3) providing
CAMB’s members with information about state and federal
legislative and regulatory developments related to the industry;
(4) protecting the means and methods of mortgage brokering from
unfair regulatory restrictions; (5) providing a close union of
mortgage professionals the opportunity to network and learn from
each other; and (6) working to increase access to home ownership
and housing affordability for all Californians.
Since its formation in April 1990, CAMB’s
membership has grown to nearly 3,000 mortgage professionals
statewide. This growth reflects the mortgage broker’s
increasingly prominent participation in real estate finance. In
a 1997 survey conducted by the California Association of
Realtors, it was reported that mortgage brokers are involved in
80 percent of all purchase money transactions in California. In
addition, reliable estimates suggest that there are as many as
10,000 mortgage brokers in California. As the largest
association representing mortgage brokers, CAMB anticipates
further growth.
In 1992, CAMB was appointed to participate on
the Real Estate Finance Advisory Committee (REFAC) created by
California Department of Real Estate (DRE) Commissioner Clark
Wallace. CAMB serves with other residential real estate and real
estate finance-oriented associations that meet monthly to
consult with the DRE and discuss a variety of issues related to
California real estate law, consumer finance, and the real
estate industry.
In 1997 CAMB, in conjunction with the
National Association of Mortgage Brokers (NAMB), helped turn the
tide after devastating HUD rules and regulations were announced
by Secretary Andrew Cuomo. CAMB and NAMB mounted a grassroots
effort that generated more than 8,100 comments to HUD. (Previous
record was 1,500 comments). Through this and other effective
legislative efforts, we successfully placed our names as power
players in the industry in front of HUD regulators and members
of Congress.
Professional or Associate membership in CAMB
requires a DRE broker or salesperson license in good standing,
principal responsibility for the named mortgage broker business,
and agreement to abide by the demanding CAMB Code of Ethics.
Those who join are granted membership in CAMB, NAMB and the CAMB
local chapter, thereby providing networking opportunities at the
state, federal and local level.
With the enthusiastic support of California’s
mortgage professionals, CAMB will continue to work for the
industry, continue to provide high quality member benefits, and
prepare its members for the challenges of the future.
CAMB salutes those volunteer leaders who help
make this association strong and viable. They have led effective
state Board of Directors and worked with local chapters to make
membership in CAMB an enriching experience. Our Past Presidents
list contains some of the leaders of the industry who encourage
you to make your membership in CAMB as productive as possible.
Serve on a state committee such as membership or legislative,
serve on your local chapter Board of Directors and assist in
planning local events, respond to those legislative calls to
action when they cross your desk, and attend the conventions and
sales and marketing conferences where you can learn more about
the industry and network with your colleagues. Who knows? One
day your name may join the following as key leaders in this
rewarding industry.
