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Obtaining Your CMB Designation

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.

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Obtaining Your CMB Designation

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  1. 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. Obtaining Your CMB Designation MBAF Certified Mortgage Banker Society

  2. 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

  3. Why Become a Certified Mortgage Banker? • 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.

  4. Commonly Heard Reasons • 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!

  5. CMB’s Subscribe to the MBA’s Cannon of Ethics • Professionalism • Integrity • Public Trust • Fiduciary Responsibilities • Disclosure of Information • Conflicts of Interest • Compliance with Laws • Non-Discrimination • Honesty in Advertising • Sanctity of Agreements • Competition • Ethics Compliance

  6. Who is Eligible to Become a Candidate? • 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.

  7. Residential, Commercial or MasterChoose the Path that is Right for You Candidates May Pursue a: • “Master CMB” • Encompasses testing of both Residential and Commercial aspects of mortgage banking. All CMB Designations earned prior to 2000 are automatically Master CMB’s. • “Residential CMB” • Candidate is tested only on knowledge of Residential aspects of mortgage banking. • “Commercial CMB” • Candidate is tested only on knowledge of Commercial aspects of mortgage banking.

  8. Two Tracks for Obtaining a CMB Commercial CMB • Experience: 3 Years • Total of 150 points req’d • Education: 35 points req’d • Participation: 25 points • Written Exam: 6 Hours • Essay Format • Oral: 1 Hour • Continuing Ed: 2 Yr intervals Residential CMB • Experience: 3 Years • Total of 150 points req’d • Education: 35 points req’d • Participation: 25 points • Written Exam: 6 Hours • Essay Format • Oral: 1 Hour • Continuing Ed: 2 Yr intervals

  9. The CMB Process cont’d Acquire 150 CMB Points: • 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

  10. The “Master” CMBGoing “All the Way!” • 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.

  11. A Word About the MBA School of Mortgage Banking • 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: • Course I- 15 points • Course II- 15 points • Course III- 30 points totaling 60 points towards 150 CMB points required

  12. Why is This Important? • 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. • (Still need 150 to sit for the orals)

  13. The Residential Written Exam • Successfully Pass 6 written exam areas with a >70% Score: • 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.

  14. The Residential Written Exam Prep • 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.

  15. The Oral Exams Preparation: • 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)

  16. The Oral Exams: What to Expect • 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.

  17. Graduation and Congratulations! CMB Graduation Ceremony: • 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.

  18. 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

  19. CampusMBA ResourcesMBA Offices, Washington, DC CampusMBA Resource Amber Lawrence alawrence@mortgagebankers.org 202-557-2766 www.CampusMBA.org

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