Recognized for its preeminence within the industry, the CMPS curriculum represents the core knowledge expected of residential mortgage advisers, regardless of the diversity of specializations within the industry.
Columbia, MD -- (SBWIRE) -- 07/09/2007 -- Ilyce N. Powell, a mortgage lender with National City Mortgage, has passed the qualifying exams to earn the Certified Mortgage Planning Specialist (CMPS) designation granted by the CMPS Institute (Ann Arbor, Michigan) a training, certifying, and ongoing membership organization created to help mortgage professionals integrate financial planning concepts into the mortgage process. CMPS designees can offer clients strategies that encompass mortgages, debt, home equity, and real estate investment.
“My focus is to help my mortgage clients build and protect wealth by better managing their home equity and personal cash flow,” says Ms. Powell.
Many homeowners have become frustrated and confused with the myriad of choices in today’s mortgage market and the lack of both ethics and financial knowledge among many mortgage providers. The CMPS Institute is a joint effort by leaders in the mortgage and financial planning industries to raise professional standards among mortgage professionals and integrate sound financial planning advice into the mortgage process.
Today, life expectancy is higher than ever before; health care costs are skyrocketing; pensions are shrinking; social security is uncertain; and corporate America has gone through one bankruptcy after another. Today’s mortgage market can be a dangerous place for some consumers with certain real estate markets experiencing signs of a “bubble,” and “exotic” mortgages representing a greater market share than ever before. These signs point to the fact that homeowners and buyers need expert advice on how to manage their mortgage, cash flow and home equity.
This trend toward expert mortgage advice is growing in popularity. Ilyce N. Powell is now one of over 2,700 Certified Mortgage Planning Specialists in the country. “A mortgage professional who dedicates the time and effort to learn about these financial concepts is much more qualified, committed, and equipped to serve the complex needs of today’s home owner and buyer,” says Gibran Nicholas, Chairman of the CMPS Institute.
The CMPS curriculum incorporates five essential skill sets including:
•Financial market and interest rate analysis
•Cash flow analysis
•Debt analysis
•Real estate equity management
•Real estate investment analysis
Ilyce N. Powell, CMPS can be reached at ilyce.powell@ncmc.com, or call 866-458-1654.
For more information on the CMPS Institute go to http://www.cmpsinstitute.org, or call 888-608-9800.
Posted Thursday Aug 09
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Ilyce,
Why is it that the National Association of Mortgage Brokers (NAMB) and Mortgage Bankers Association (MBA) do not recognize or endorse the CMPS Institute's designation? I've always found that strange.....
That's a very good question, Ken. I wonder if there has been any attempt to "get in front of them." I believe that as the practice of mortgage planning becomes more common, NAMB and MBA will probably be on board. In the meantime, though, I think I'll pose the question to them myself.
I'll let you know what happens.I'm interested to learn what they say in response.
Were you able to get any kind of response from the NAMB or MBA?
Hi Ken. I thought I'd already repsonded. Call me a space cadet. LOL
Here's what I found out:
Neither organization endorses other programs, as they each have theor own courses and designations that may be earned through them. In addition, NAMB said that CMPS members may apply their credits to obtain certification through them; but for the MBA, it's not so siple.
The only thinkg a CMPS can do is fill out a transcript of yall courses taken and see if any of them will count toward their hgihest level of certification. All the other courses they offer are too specific to award credit for someone else's training.
Hope this helps.