Getting Your CMB Designation - Mortgage Bankers Association of

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OBTAINING YOUR CMB
DESIGNATION
MBAF Certified Mortgage Banker Society
The Certified Mortgage Banker (CMB) Designation is the industry standard of
professional success. It symbolizes respect, credibility, ethics, and achievement within
real estate finance.
Earning a CMB instantly places professionals at the top of our dynamic industry.
MBA Designations:
Certified Mortgage Banker
Accredited Mortgage Professional
Certified Loan Officer
Certified Mortgage Compliance Professional
Certified Mortgage Servicer
Certified Mortgage Technologist
Certified Quality Assurance Professional
Certified Residential Underwriter
Why Become a
Certified Mortgage Banker?
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The Certified Mortgage Banker (CMB) designation
was created in 1973 by the MBA.
The Certified Mortgage Banker designation is the
industry standard of professional accomplishment
and success.
Earning your CMB places you at the top of our
industry and makes you part of an elite group of
professionals.
Earning your CMB gives you instant credibility
among your peers.
89% of CMB’s are Vice Presidents or higher
Of the 1000 CMB’s in the US, 64 work or reside in
Florida.
Commonly Heard Reasons
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I don’t understand the process.
I don’t think I will qualify.
No one to help me.
I don’t know how to get started.
I don’t have time.
Others?
The MBA of Florida can help!
CMB’s Subscribe to the
MBA’s Cannon of Ethics
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Professionalism
Integrity
Public Trust
Fiduciary
Responsibilities
Disclosure of
Information
Conflicts of Interest
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Compliance with
Laws
Non-Discrimination
Honesty in
Advertising
Sanctity of
Agreements
Competition
Ethics Compliance
Who is Eligible to Become a Candidate?
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Must be employed by a firm that is a member of
MBA or a recognized State MBA.
Must have three or more years experience in
real estate finance or related field.
Present an acceptable recommendation by a
senior officer of the applicant’s firm.
Accumulate at least 3 years industry experience
before the time of application.
Residential, Commercial or Master
Choose the Path that is Right for You
Candidates May Pursue a:
 “Master CMB”
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“Residential CMB”
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Encompasses testing of both Residential and Commercial aspects of
mortgage banking. All CMB Designations earned prior to 2000 are
automatically Master CMB’s.
Candidate is tested only on knowledge of Residential aspects of
mortgage banking.
“Commercial CMB”
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Candidate is tested only on knowledge of Commercial aspects of
mortgage banking.
Two Tracks for Obtaining a CMB
Commercial CMB
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Experience: 3 Years
Total of 150 points req’d
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Education: 35 points req’d
Participation: 25 points
Written Exam: 6 Hours
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Residential CMB
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Essay Format
Oral: 1 Hour
Continuing Ed: 2 Yr
intervals
Experience: 3 Years
Total of 150 points req’d
Written Exam: 6 Hours
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Education: 35 points req’d
Participation: 25 points
Essay Format
Oral: 1 Hour
Continuing Ed: 2 Yr
intervals
Master CMB
Residential CMB
School of Mortgage
Banking
Courses I, II, and III
Commercial CMB
School of
Commercial
Mortgage Banking
The CMB Process cont’d
Acquire 150 CMB Points:
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Professional Experience: 25 points minimum
Documented Education: 35 points minimum
Industry Participation: 25 points minimum
Prepare for the Exams-Written and Oral
Meet with Your Sponsor frequently
Set Your Written Exam Date
Complete the Oral Exam
Graduate
Be Formally Recognized at the CREF or MBA National
Conventions, or the MBA of Florida Convention
Complete Continuing Education
Enroll in CMB Program
(3 years experience req’d
Meet with your
CMB Sponsor
on a regular basis
Acquire 150 points thru
education, experience
and SOMB
Prepare for and
Successfully
Pass Written Exam
Successfully
Sit for Oral Exam
(150 Points Needed)
CMB
Graduation Ceremony
The “Master” CMB
Going “All the Way!”
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Experience: 7 or More Years in Mortgage Banking
Prerequisites: Must have completed either the Residential
or Commercial CMB program at least 2 years prior to
Master CMB program
Education: 35 points req’d
Participation: 25 points
Written Exam: 6 Hours
Oral: 1 Hour
Continuing Ed: 2 Yr intervals
200 Total CMB points required, 150 from Residential or
Commercial carry forward.
A Word About the MBA School of Mortgage
Banking
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SOMB founded in 1948 at Northwestern University
The only comprehensive professional development
program for mortgage industry management.
Graduates can earn Accredited Mortgage Professional
Designation (AMP) at conclusion of Course III
Three (5 day) courses: Course I, Course II and
Course III
CMB Points earned upon successful completion:
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Course I- 15 points
Course II- 15 points
Course III- 30 points totaling 60 points towards 150 CMB
points required
Why is This Important?
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Completing Schools 1-3 gives you a higher
probability of success in the Written and Oral
Exams.
Completing Schools 1-3 gives you 60 Points
towards the min. 150 Points needed for your CMB
Completing Schools 1-3 allows you to sit for the
Written Exam at 130 Points instead of 150.
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(Still need 150 to sit for the orals)
The Residential Written Exam
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Successfully Pass 6 written exam areas with a >70% Score:
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Residential Loan Origination and Underwriting
Residential Loan Administration
Residential Loan Marketing and Investor Relations
Financial Management and Strategy
Real Estate Law and Regulatory Compliance
All Candidates Must Take and Successfully Pass the Comprehensive
Industry Issues Exam
After successfully completing the written exam, the
candidate is eligible to present him/herself to the CMB
Board of Review for an oral interview and exam at the next
available exam date.
The Residential Written Exam Prep
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Meet with your CMB sponsor to discuss your level
of preparation.
Obtain your Sponsor’s approval to take the exam.
Review Exam Outline.
Enroll in MBA’s six-week CMB Instructor-led
Online Prep Course for additional fee.
Establish your exam date, exam proctor’s name
and address.
Fax/mail your test enrollment and pay fee of
$300/$450 to MBA.
The Oral Exams Preparation:
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Focus on mastering all current industry issues
and pending legislation
Review all current MBA issue papers online,
Mortgage Banking Magazine, NewsLink
articles.
Schedule a “mock oral” exam with 3 local
CMB’s*
*(provided and hosted by the MBA of Florida CMB
Society)
The Oral Exams: What to Expect
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A one hour exam with a panel of 3 CMB
examiners.
Various locations around the country at
different times.
Expect 6-7 questions from the CMB exam panel.
Once completed, the panel will deliberate and
you will be escorted back for their decision.
Second chance by a different CMB panel.
Graduation and Congratulations!
CMB Graduation Ceremony:
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Held twice per year at either the:
 MBA CREF/Multifamily Convention in
February
 MBA Annual Convention in October
Cocktail Reception
Spouse and Colleagues are invited.
My CMB Website:
 http://www.campusmba.org/MyCMB.htm
 On
this site, you can find useful tips and
resources to assist you in spreading the word
about the Residential, Commercial, and
Master CMB designations.
 Society Events and the Society Page newsletter
 CMB Profile online questionnaire.
 CMB Yearbook
 ShopCMB -CMB Apparel
CampusMBA Resources
MBA Offices, Washington, DC
CampusMBA Resource
Amber Lawrence
[email protected]
202-557-2766
www.CampusMBA.org

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