PROVIDENCE, R.I. (May 23, 2019) — Rhode Island Mortgage Bankers Association (RIMBA) is joining a handful of states across the country to offer a Certified Mortgage Professional certificate. The new designation is intended to recognize mortgage professionals and RIMBA affiliates who have demonstrated a heightened level of proficiency and commitment within the mortgage industry in Rhode Island.
“Mortgage professionals who earn this designation have demonstrated a thorough understanding of local and national mortgage laws, and exemplify what it truly means to be a leading loan officer today,” said Patrick Deady, President of RIMBA and Senior Vice President and Director of Residential and Consumer Lending at Bank Five.
Thomas Fleming, a longtime member of RIMBA’s Executive Board and an ambassador for the association, explained that the certification would also help connect consumers with professionals who are passionate and knowledgeable about their specialized line of work.
“Ideally, consumers would seek the services of a CMP when buying a home the same way they would rely on CPAs for their bookkeeping or tax planning needs,” Fleming said.
Criteria for eligibility derives from qualifications that, Fleming says, are important to the industry. Professionals seeking the certification must have five years of experience to even apply. Other requirements include demonstrating a commitment to the community, submitting a letter of recommendation, abiding by a stronger code of ethics, and completing a 100-question test of similar difficulty to the national licensure exam.
“Receiving this designation is a significant milestone, and it is an achievement that should instill a deep sense of accomplishment and pride,” Deady said. Those who earn the certificate will be recognized at a yearly dinner hosted by RIMBA, and will be featured on RIMBA’s website.
Professionals interested in pursuing this designation can find an application online.
About Rhode Island Mortgage Bankers Association
The Rhode Island Mortgage Bankers Association is dedicated to promoting and sustaining responsible home lending in Rhode Island. The mortgage association has over 90 corporate members, which represent thousands of mortgage lenders throughout the state who help businesses and people secure mortgages. As part of its overarching plan to create a better housing market, RIMBA regularly promotes educational initiatives, addresses legislative challenges, and strives to cultivate membership growth. For more information about RIMBA, visit: rimba.org.