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Consumer

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.


HVCC (Home Valuation Code of Conduct)
New appraisal regulations as of May 1, 2009

Please complete our survey.

We need to hear about your experiences with the new appraisal process known as HVCC and more importantly our State and Federal Regulators and Legislators need to hear real-life examples of HVCC. Please take a few moments to complete our survey. Go to Appraisal/HVCC Survey and tell us about your appraisal experience. This survey is designed for Consumers, Appraisers, Mortgage Professionals, and Realtors to complete.

CAMB has sponsored an HVCC (Home Valuation Code of Conduct) Web site address www.PropertyUnitesUs.com where you, your clients, consumers, Realtors®, appraisers, loan originators and builders can find out more about this new regulation and post real life examples of how consumers are being negatively impacted by the HVCC.

The Home Valuation Code of Conduct (HVCC) limits freedom of choice without protecting the consumer’s or investor’s best interest! We know you have all sorts of examples of higher costs, poor service, lack of portability (inability to use one appraisal for more than one lender), poor quality of appraisals, and inability to make corrections to inaccurate information. Please make your voices heard.


Who Owns Your Mortgage
Click on the links below to find out if you qualify for the Obama special streamline refi program up to 105% LTV. All they have to do is click on the link and enter the address.

  • Does Fannie Mae Own Your Mortgage? Find out!
  • Does Freddie Mac Own Your Mortgage? Find out! 

The Choice is Yours
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
  • Pricing of
    SubPrime
  • Consumer
    Resources
FORECLOSURE FRAUD: FREDDIE MAC WARNS BORROWERS WITH VIDEO DRAMATIZATION ON YOUTUBEMcLean, 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.
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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 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.

News

CALIFORNIA ASSOCIATION OF MORTGAGE BROKERS ISSUES 2008 MORTGAGE INDUSTRY FORECAST
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.
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California Association of Mortgage Brokers
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