Rounded Rectangle: New Jersey 
Association Of Professional Mortgage Originators

NJPMO Mission: is to advance the Mortgage Lending Profession through

political  advocacy, education, information and ethical practices.

Welcome   

 

Our goal is simple; to advocate on behalf of, educate and continually inform the Professional Mortgage Originator industry.

The goal of APMO is to perpetuate the business ventures of the Mortgage Broker and  small Mortgage Banking Businesses while informing the regulatory authorities of their actions upon the consumers.

The APMO is open to all who are professionally employed in the business of mortgage loan origination. This includes the NMLS Registered Loan Officers, Mortgage Brokers, the small Mortgage Bankers, Wholesale Mortgage Lenders, title companies and non– HVCC Appraisal Companies.  

APMO has an affiliation with the National Association of Independent Housing Professionals (NAIHP.org), a National Industry Advocacy Group. All members of APMO also receive membership in NAIHP, to represent us in Washington, DC.

As this organization grows the information and resources available on this website will be expanded.

To contact us:

 

E-mail: info@njpmo.org

Purpose    

To develop an organization to represent and unify the Mortgage Brokerage Industry.

 

Over the past 25 years the mortgage brokerage industry in New Jersey has simply reacted as a fragmented number of individuals. Although, there have been previous organizations to represent the industry, membership and support have proved inconsistent.

 

The old theory of, “they are representing me so I don't have to get involved”, did not prove effective. This old adage ends today.

 

Every member of NJPMO must be pre-pared to become politically active and to work in a uniform and cohesive voice.  Every Member is expected to strive to meet with their local State and Federal elected Representatives on a regular basis. If they do not know we are watching their actions, they will ignore our voices.

 

NJPMO will continue to educate, inform, organize and unify the Mortgage Origination industry.

 

 

 

GOals   

  Beyond educating and informing the industry, We, as an industry and an organization, must continually educate and inform the consumer and our political representation on both the State and Federal Levels.

 

 

 

Text Box: Industry Contacts
Text Box: Breaking News

 

 

WHAT IS NEW

 

 

There have been many changes with our A.E.s. Look at the attached Wholesale Lenders page to find a list of AE’s. 

 

 

NJ-PMO had a meeting with the CFPB Director in late 2013. CFPB is still willing and seeking to clarify any questions about implementation and interpretation of QM or the other Rules.

 

Lender Paid compensation is not to be included in the APR. HOWEVER, that does not absolve you of State compliance. NJ-PMO has met with and emailed NJ Banking and not received an clear answer about this issue.

 

 

CFPB. gov

 

 

Every member of the industry should be viewing this website weekly. Special interest should be applied to http://www.consumerfinance.gov/notice-and-comment/

 

This is where all the new Proposed Rules will be presented. CFPB has yet to implement over 50% of Dodd Franks rules.

                 ____________________________

 

 

NJ-PMO has attended every Industry Roundtable offered by CFPB.

 

 

 

 

 

 

NMLS

 

Are you in compliance, think so?

 

Go to NMLS and log in, chose Composite View, then across the top Company View, then on the left Column “View License/Registration”. Click on you company in the middle of the page, look for your deficiencies.

 

The Departments of Banking are adding deficiencies daily.

APMO and NAIHP meeting with CFPB Director Richard Cordray. APMO was the first Mortgage Industry Trade Group to meet with the new Director since he took office.

 

APMO advocates on a regular basis in Washington DC for the small business aspects of the mortgage industry and  the related fields. APMO also make regular presentation to members of the industry informing them of the pending Regulations and the coming implementation of the CFPB Rules.