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2014-6-20 BlackHat GMA Application Handbook FINAL

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  1   |   GMA    APPLICATION   HANDBOOK   R EVISED M  AY 2014    Dear Aspiring GMA ®  Certificant: Thank you for taking the time to inquire about NAMB certification. Your interest places you in the top tier of mortgage professionals who are knowledgeable and committed to the highest standards of conduct. Achieving the GMA ®  credential demonstrates your commitment to the industry. Across the United States, and in a wide range of occupations, certification programs have enabled  professionals to distinguish themselves from the competition. As the number of certified individuals has increased, customers and employers have learned to look for credentials when choosing a business partner. By meeting the stringent eligibility standards, passing the rigorous exam, satisfying the recertification requirements, and adhering to the NAMB Code of Ethics, the GMA certification will enable you to prove your skill and promote your business. There has never been a better time for mortgage professionals to seek certification for a number of reasons. Our industry is under increased scrutiny and it is important for those of us who are true  professionals to conduct business with honesty and integrity, putting the best interests of our clients at the forefront of all we do. This year, NAMB is working to raise awareness of our credentialing programs to NAMB members, other brokers, and our industry partners. There is no doubt—certification will benefit you professionally. The following pages will give you all the information you need to begin the process of becoming a certified mortgage professional who has the privilege of adding the GMA ®  credential to your signature.  I wish you success in your career as a mortgage professional. You are certainly off to a good start! Robert Schwab, CMC Chair NAMB Certification Committee  2   |   GMA    APPLICATION   HANDBOOK Introduction  This National Association of Mortgage Brokers (NAMB) Certification Applicant Handbook contains information on how to become a General Mortgage Associate   (GMA ®  ). It was created to help guide interested mortgage professionals through the certification application process. If you have any questions about the policies and procedures of the NAMB Certification Program or about the processing of your application after reviewing the GMA ®  Candidate Handbook, please write, email, phone, or fax NAMB using the following contact information: Certification Department National Association of Mortgage Brokers 2701 West 15 th  Street Suite 536 Plano, Texas 75075  Telephone: 972-758-1151 Fax: 530-484-2906 Email: certification@namb.org  Website:  www.namb.org  Eligibility standards, examination content, examination standards, fees, and guidelines are all subject to change. If the revision date of this handbook is more than six-months old, please contact NAMB to obtain the current version before submitting your application . The most current version of this handbook can also be found under the “Certification” tab on the main page of our website,  www.namb.org . WE RECOMMEND THAT YOU KEEP THIS HANDBOOK FOR REFERENCE THROUGHOUT YOUR APPLICATION PROCESS “GMA ® ”, “CRMS ® ” and “CMC ® ” are certification marks of the National Association of Mortgage Brokers (NAMB) and are registered with the United States Patent and Trademark Office. “General Mortgage Associate”, “GMA”, the GMA logo, Certified Residential Mortgage Specialist , the CRMS logo, “Certified Mortgage Consultant”, and the CMC logo are registered certification marks of the National Association of Mortgage Brokers (NAMB).  1999-2009, National Association of Mortgage Brokers. All rights reserved. No part of this publication may be reproduced or transmitted by any means, electronic or mechanical, including photocopy, recording, or any other information storage and retrieval system, without permission in writing from the publisher.    3   |   GMA    APPLICATION   HANDBOOK   R EVISED M  AY 2014   GMA ® Table of Contents NAMB Certification Exams – An Overview ........................................................................................... 4 Exam Methodology ....................................................................................................................................... 4 Examination Development .......................................................................................................................... 5  Value of Certification .................................................................................................................................... 6 Statement of Non-Discrimination .............................................................................................................. 6 Statement of Confidentiality ........................................................................................................................ 6 Release of Certificant and Candidate Information ................................................................................... 7 Code of Ethics ............................................................................................................................................... 8 Lending Integrity Seal of Approval ........................................................................................................... 8 NAMB Membership ..................................................................................................................................... 9 How to Join .................................................................................................................................................... 9 GMA ®  Certification Exam Information ................................................................................................... 10 Section I: Administrative Policies & Procedures for GMA ®  Certification ........................................... 10 Exam Overview ............................................................................................................................................. 10 Benefits of Becoming a GMA ®  ................................................................................................................... 11  Who Should Take the Exam? ...................................................................................................................... 12 GMA ®  Examination Application Fee ......................................................................................................... 12 How to Apply for the GMA ®  Exam .......................................................................................................... 12 Scheduling Your Exam ................................................................................................................................. 13 Important Application Information – Background Check ..................................................................... 13 Preparing for the Exam ................................................................................................................................ 14 Exam Format ................................................................................................................................................. 14  Taking the Exam ........................................................................................................................................... 15  The Day of the Exam Checklist .................................................................................................................. 15 During the Exam ........................................................................................................................................... 16  After the Exam .............................................................................................................................................. 16 Candidates with Disabilities ......................................................................................................................... 16 Bad Weather ................................................................................................................................................... 16  Test Security ................................................................................................................................................... 16 Canceling, Updates, Arriving Late, or Failing to Appear ........................................................................ 17 Rescheduling the Exam ................................................................................................................................ 17 Emergencies ................................................................................................................................................... 17 Retaking the Exam ........................................................................................................................................ 18 Exam Results & Verification of Credentials ............................................................................................. 18 Scoring the Examination .............................................................................................................................. 18 Passing Standards and Equating .................................................................................................................. 19 Disciplinary Action ........................................................................................................................................ 19 Revocation of Certification .......................................................................................................................... 20  Appeal ............................................................................................................................................................. 20 Recertification ................................................................................................................................................ 20 Reinstatement ................................................................................................................................................. 21 Reference List ................................................................................................................................................ 22 Mortgage Professionals on the Value of Certification ............................................................................. 23  4   |   GMA    APPLICATION   HANDBOOK   R EVISED M  AY 2014   NAMB Certification Exams – An Overview NAMB established the GMA ® , CRMS ® , and CMC ®  certification exams to provide members  with an opportunity to be recognized as leaders within the increasingly competitive field of mortgage brokering. Specifically, these three distinct, yet complimentary exams are designed to:    raise the standards and improve the practices of the mortgage brokerage profession;    identify persons with demonstrated knowledge of the principles and practices of the mortgage profession, its related disciplines, and laws;    develop a foundation for future leaders in the industry; and    encourage qualified persons to pursue a program of professional development. Each exam requires different levels of work experience, the accumulation of qualifying points (awarded based on multiple factors including work experience and formal education) and the passing of a computer-based, multiple-choice test. The GMA ® , CRMS ® , and CMC ®  certifications are awarded by the NAMB Certification Committee. The credentials identify the certificant as having met the standards of required knowledge, skills, and abilities established by the Committee. Exam Methodology Developing and maintaining credible and relevant certification programs requires a significant investment of resources. NAMB is fully committed to ensuring that our certification programs remain the most respected designations in the mortgage brokerage industry. The GMA ® , CRMS ® , and CMC ®  certification exams are the result of a multi-step process that includes the following steps: 1.   Conduct a job analysis every 5 years. A job analysis is a survey of
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