HR 3915 Bill

In light of the recent mortgage "meltdown" and the emergence of H.R. Bill 3915 I thought I would give my thoughts on several issues. First, I have read Bill H.R. 3915 in it's entirety and have also viewed the amendments and the actions taken. This bill brings to light, in my opinion what should have been done long ago, a mortgage broker registration process (Kansas already adopts this philosophy) and continuing education for mortgage originators. These of course are the major additions and again in my opinion the "smarts" of the bill. There are of course many other concepts behind this bill most of which are just added paperwork to an already paper ridden process. For instance, adding additional verbage to the Truth-In-Lending (TIL) statement. With this being said I will know educate you on what Professional Mortgage Group has adopted from day one to aid the borrower in making an educated decision concerning their mortgage loan.

1) Professional Mortgage Group brokers already participate in an "in-house" continuing education course. This includes some but not limited to the following; ethics and training courses via virtual teleconferences, publications (i.e. Mortgage Originator, Scottsman Guide, NAMB, MAMB, and others), and courses by Mortgage News Daily and Todd Duncan ( a well known mortgage ambassador and educator).

2) 99.9% of our clients meet with us in person to review loan programs (including the advantages and disadvantages of each) and to sign "initial" disclosure papers. Our clients are completely aware from day on the mortgage process, the "unknowns" (i.e. homeowners insurance), and receive a copy of their disclosures in case any future questions arise.

3) Our clients are also given a "Buyer's Guide" to further educate them on the mortgage process and what to expect when buying a home. This material includes FAQ's as well as some of the documents requested and potential loan programs, just another way PMG, Inc. is staying ahead of the curve and H.R. Bill 3915.

4) Our clients are also given "service guarantee's" which outlines what they should expect from PMG, Inc. and what is expected from them. Again, all expectations are set at the initial appointment.

5) We have creditability; meaning 99% of our business is from realtor's, financial planners, past clients, and attorneys. We have testimonials and surveys to back our claim that we do our job "the right way"; no surprises, fair fees, market rates, honest advice, an ethical and unwavering customer service! We return phone calls, we deliver bad news, we help people understand their credit and help them through the process of becoming homeowners. IN GENERAL WE EDUCATE AND CONSULT OUR CLIENTS ON WHAT'S BEST FOR THEM; NOT WHAT'S BEST FOR US!!!!

H.R. Bill 3915 bring it on, we already go above and beyond what our legislators say we need to do. We are one step ahead of them and will continue to be ahead of the curve on delivering a quality mortgage experience!

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Your Columbia Missouri Mortgage Broker