Chartered Member

 

CHARTERED MEMBER

 

 

 CHARTERED MORTGAGE BROKER

A Mortgage broker is an intermediary who brings mortgage borrowers and mortgage lenders together, but does not use its funds to originate mortgages. A chartered mortgage broker a professional who brokers mortgage loans on behalf of individuals or businesses.

A couple of years ago, in other to get a loan for a house or something expensive, you had to work into a bank to have a cosy chat with the manager, but these days people have lost faith in the bank, because all the time they are not given the right advice and process to get a loan is very tedious, making the wrong choice about your mortgage can cost you hundred- even thousands of naira more than you need to pay “and because mortgages are awash with additional fees and charges, it’s all too easy to get ripped up, that’s why it makes a lot of sense to go with a mortgage broker or become a professional.

 

CHARTERED MORTGAGE ADMINISTRATOR

A mortgage administrator is responsible for updating loan information on the administration system and assisting with preparation of welcome packages and supporting the department required. A chartered mortgage administrator is responsible for performing specific function of the mortgage life cycle and related products. These functions are required to maintain a performing mortgage asset and ensure customer satisfaction.

 

CHARTERED MORTGAGE BACKED SECURITIES ANALYST

Mortgage – backed securities are investments somewhat similar to stocks, bonds or mutual funds. Their value is secured or backed by the value of an underlying bundle of mortgages. When you buy a MBS, you aren’t buying the actual Mortgage, instead you are buying a promise to be paid the return that the bundle will receive. An MBS is a derivative because its value is derived from the underlying Asset.

 

Roles and Responsibilities

Mortgage-backed securities analysts can work on either the sell side (originators) or the buy side (investors) and responsibilities vary accordingly. On the sell side, analysts can work at large investment banks and other financial institutions like mortgage companies that underwrite loans. Sell-side analysts are typically responsible for the following:

  • Providing financial analysis for each proposed loan
  • Assisting in underwriting, committing, and closing transactions
  • Organizing and analyzing tranches
  • On the buy side, analysts may work in an asset management company, pension or other investment funds, or an insurance company. Similar to other buy-side credit analysts, MBS analysts primarily focus on determining the relative value of a securitized product and modeling the credit risk against the valuation attractiveness of the individual securities. Buy-side analysts do the following:
  • Analyze mortgage-backed securities investments and recommend that their firm buy, hold, or sell
  • Screen new mortgage backed security offerings
  • Perform country, sector, and bond selection through relative value and credit analysis

Whether on the buy or sell side, analysts need to work well under pressure. Analysts are responsible for their own cache of securities. They should be able to work independently and have strong analytical skills. Working hours and conditions are similar to those for other security analysts.

 

CHARTERED MORTGAGE LENDER

A person or company that loans money and takes a security interest in real property. The lender can provide more than just real estate loans, but it is referred to as the mortgage lender when someone is talking about a real estate    loan.

 Mortgage Lender

The party advancing money to a borrower at the closing table in exchange for a note evidencing the borrower’s debt and obligation to repay.

Retail, Wholesale, and Correspondent Lenders: Lenders who perform all the loan origination functions themselves are called “retail lenders.” Lenders who have certain functions performed for them by mortgage brokers or correspondents are called “wholesale lenders.” Many large lenders have both retail and wholesale divisions. Wholesale lenders will have different departments to deal with correspondent lenders and mortgage brokers. Correspondent lenders are typically small and depend on wholesale lenders to protect    them against pipeline risk. Correspondent lenders lock a price for a borrower at the same time as the correspondent locks  with a wholesale lender.

 

MEMBERSHIP CERTIFICATION BENEFITS

In today’s competitive market, it’s more difficult than ever to stand out from the competition. Attaining a IMBL certification demonstrates your knowledge of the principles and practices of the mortgage profession, its related disciplines and laws, and shows that you have mastered the core skills that allow your business to grow.

Career Rewards:

  • The opportunity to earn more than uncertified peers
  • The Member, Associate, Chartered, Senior Member, Fellow IMBL credentials equate to quality and excellence.
  • The opportunity for mortgage professionals to achieve a higher level of professionalism and demonstrate their commitment to a superior level of service to the borrower.
  • IMBL’s credentials distinguish mortgage professionals who have received the highest level of professional knowledge available to them.
  • A valued addition to your resume/CV.
  • Certification is an avenue for professional growth and a way for employers to recognize and promote loan officers and mortgage professionals.
  • Professional achievement “right out of the gate.”

 

Rewards from IMBL:

  • Certificate and lapel pin recognizing you as a certified mortgage professional
  • Authority to use the earned credential and logo on materials including business cards, stationary, websites, and advertising that promotes the individual certificate.
  • Access to self-marketing materials including a welcome kit with tools to help differentiate yourself in the market
  • Inclusion in IMBL’s “Directory of Certified Mortgage Professionals” (found on-line and in the IMBL magazine)
  • Priority listing on “Find-a-Broker” search engine
  • Opportunity for industry recognition via print and online media communications
  • Special recognition at the IMBL national convention
  • Listing on banner for Certified Professionals displayed at IMBL events

 

Personal Rewards:

  • The opportunity to earn more than uncertified peers
  • Personal confirmation that you’ve chosen the right career path for yourself
  • Confidence in having achieved distinction in one of the most competitive industries in the United States
  • Pride at being a part of an organization that supports its members through career growth opportunities
  • Demonstration of your commitment to the consumer by obtaining advanced education and demonstrating that they have the skills necessary to provide quality service
  • Distinction as a mortgage professional who have received the highest level of professional knowledge available to them
  • Confidence in your knowledge and skills

 

ENTRY REQUIREMENTS:

  • O’ Level, GCE, WAEC, NECO, etc.
  • B.Sc. degree
  • Masters degree (Added advantage)
  • Working Experience

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