Wednesday, December 6, 2006

CAMB Releases Consumer Education and Protection Worksheet to
Help Consumers Better Understand the Loan Process

In response to a study released by the Federal Reserve Board ("Board") on mortgage loans and predatory lending and the Board's comments that mortgage brokers need to do more to educate the consumer on the loan process, various loan products available to them and how they work, CAMB is now providing members with a worksheet geared to assist the loan originator in ensuring the consumer is educated on the major types of mortgage loans and, in particular, the loan the consumer has selected. We are swiftly moving forward our efforts to enhance consumer education and protection in the industry and to curb predatory lending practices, thus making sure that consumers are not only being protected from abusive lending practices but are also being educated about the various types of loans.

This worksheet, once completed and signed by the consumer and broker, will also provide evidence of services required of a responsible, professional mortgage broker.

Only you, as a CAMB member, have the proprietary use of the Consumer Education and Protection Worksheet as you assist consumers in securing mortgage loans.

	Jack Williams 2006-07 CAMB President
CAMB WORKS FOR YOU!
Download Consumer Protection Worksheet
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