MORAL STANDARDS PROPEL GROWTH IN FINANCIAL SERVICES AS MUCH AS INNOVATIVE PRODUCTS/SERVICES.
Years ago, PYRO led the creation of a new “seal of approval” for the mortgage broker industry to help homebuyers locate hardworking, ethical mortgage professionals. This was right before the global financial crisis turned the market to mush as a result of utterly insane financial regulation and supervision practices at the time (watch “The Big Short” on Amazon Prime).
Little did we know how relevant the Lending Integrity Seal of Approval would become. Following the meltdown, the National Association of Mortgage Brokers (NAMB) paradoxically subordinated the seal for years (wasn’t privy to why that decision was made). We were pleased to read that, in 2017, NAMB re-introduced Lending Integrity.
Its certification recognizes lenders with a strong commitment to achieving the “highest ethical standards in the mortgage business.” NAMB today touts it as “the first voluntary, national standard for individual mortgage professionals and their mortgage loan originators.”
It is a no-brainer, really – our original research supported the adoption of the Lending Integrity Seal of Approval with more than nine in ten consumers saying they would be “highly likely” or “somewhat likely” to work with a broker qualified with our new symbol of excellence.
All other things being equal, a Lending Integrity mortgage professional will have the edge.