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National Association of Mortgage Planners
Borrowers Bill of Rights
NAMP® Member is responsible to their Clients for:
A member shall employ appropriate means to protect and advance their Client's legitimate rights, interest, and objectives.
A member shall not be deterred in the discharge of the duties owed to their Clients by any real or imagined fear of personal disfavor or public unpopularity, nor be influenced by self interest.
As a fiduciary, I will advise my
Client of the following Borrowers' Bill of Rights:
- An explanation of the difference between fiduciary based True Agency representation and arms length customer loan brokering and banking.
- The right to True Agency Representation when obtaining a mortgage.
- The risks and benefits associated with True
- The Category of services offered to the Client.
- The variety and appropriateness of the different types of mortgages currently available.
- The right, when working with a NAMP® Member, to a written agreement that sets forth the mutual duties, responsibilities and obligations as principal and agent in the agency relationship.
- All fees, of any kind, from any source, including lender premiums, that I would, with my Client's consent, receive in connection with the transaction.
- The need for and cost of "mortgage management" annual reviews.
- The right for mediation of conflicts.
- The availability of ancillary service providers and the need to engage such professionals as a part of the loan process.
- The ethical obligations and potential legal ramifications of
"locking in" an interest rate.
- The right to consent to my activities on behalf of the Client.
- The right to be pre-approved for a loan.
- The right for confidentiality of information.
- The right to feel free to ask questions and receive prompt, truthful and forthright answers.
I will not pursue tactics tending to make a loan unobtainable or create unreasonable delays nor will I accept such instructions from my Client.
I will judiciously endeavor to achieve my Client's lawful objectives efficiently and effectively.
I will remain loyal and committed to my Client's lawful interest while providing objective and independent advice.
Why use a Mortgage Planner?
Understanding "True Agency"
Smart Home Buying Tactics
Home Buying Action Plan
Questions to Ask - Yourself
Borrower's Bill of Rights
How to Hire a Real Estate Agent
How NOT to Buy a Home!
NAMP Members - Location Map
Mortgage Planning = Savings - Article
NAMP - National Association of Mortgage Planners
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