The California Association of Mortgage Brokers (CAMB) is a nonprofit organization providing education to mortgage industry members, establishing and promoting high industry standards and working to increase consumers' understanding of mortgage brokers' services and loan products. Not only do CAMB members subscribe to a code of ethics, but its professional 1 and associate members hold individual licenses from the California Department of Real Estate. CAMB aggressively supports the notion that the first line of protection for consumers is to work with professionals who hold their own license, and thus are accountable to regulatory agencies, legislative bodies and the public for their actions. CAMB is highly committed to increasing consumer information and education, self-policing the industry, working with regulators and legislative bodies at the federal and state level to provide prudent products that make sense for the consumer, and continuing the fight against fraud in all its forms. Working with a CAMB member represents consumers' choice in product selection, consumers' greater knowledge for a loan that suits your needs at that time, and consumers' representation by a licensed professional. CAMB members are dedicated to consumers' access to and sustainability of the American Dream.
Choosing a mortgage broker means receiving an expert mentor through the complex mortgage lending process. A mortgage broker offers you extensive choices and access to information while balancing your financial interests and goals. Need more information?
Download CAMB's Dream Brochure English | Spanish
|
Foreclosure Fraud:
FORECLOSURE FRAUD: FREDDIE MAC WARNS BORROWERS WITH VIDEO DRAMATIZATION ON YOUTUBE
McLean, VA – Can a custom made video posted to YouTube™ keep troubled borrowers from losing their homes to fraud artists? Freddie Mac aims to find out.
One of the nation's largest investors in residential mortgages, Freddie Mac (NYSE: FRE) decided to produce an Internet video dramatizing a common foreclosure fraud scheme after a new survey found one-in-four delinquent borrowers go to the Internet before their bank or lender for information about avoiding foreclosure. Freddie Mac's anti-fraud video can be found at http://www.youtube.com/AvoidFraud.
Read More...
|
Consumer Resources
CAMB is expanding our resource center for consumers to include lists of agencies and organizations that could provide assistance with complaints or provide legal advice.
Click here [pdf] to download a list of regulatory agencies for mortgage lending institutions. Most of these agencies have a consumer help service by telephone and/or online.
Click here [pdf] for a list of legal resources. This document is provided as a resource and should not be construed as legal advice. |
Pricing of SubPrime
Pricing of SubPrime Mortgages by Mortgage Brokers and Lenders Study
This joint study released in June 2006 by economists Amany El Anshasy from George Washington University, Gregory Elliehausen from George Washington University's Financial Services Research Program, and Yoshiaki Shimazaki from Oklahoma State University, suggests that brokers are a more cost-effective option for consumers in the SubPrime home loan market.
Click here to read the study. |
Download Acrobat Reader
[click here]
|
|
Trade group says raising the limits on FHA and conforming loans could quell a possible recession
- 47 percent of brokers say recession possible due to housing crisis
- April-June, 2008, best time to buy a home
- Housing prices to decrease slightly in 2008
- Loan qualification will be more difficult as lending standards tighten
SACRAMENTO, CA (December 17, 2007) – The California Association of Mortgage Brokers (CAMB) today issued its Sixth Annual Mortgage Forecast projecting that the 2007 "Credit Crunch" and the continued tightening of lending standards could drive the state into a recession next year if the limit for conforming loans is not raised in California. Housing prices across California are projected to decline slightly offering first-time homebuyers a window of opportunity to realize the American Dream of homeownership. For home shoppers, the second quarter of 2008 is likely to be the best time to get a good deal on a new or existing home.
Read More...
|
Members Please 
