MBANow: Eddy Perez, CMB, on Transitional Licensing, CMB Designation
MBA Insights Staff
The Mortgage Bankers Association released a new MBANow video featuring Eddy Perez, CMB, a member of the MBA Board of Directors, who discusses the impact of MBA advocacy on his business and the benefits of earning the MBA Education Certified Mortgage Banker designation.
The video can be viewed at https://www.youtube.com/watch?v=-6TXn3oe2ng&feature=em-uploademail.
Perez, President of Equity Prime Mortgage, Atlanta, said MBA advocacy, such as its recent efforts to ensure transitional language in the recent Economic Growth, Regulatory Relief and Consumer Protection Act passed by Congress and signed into law, holds a special place with him.
"Being an independent mortgage banker, obviously that's a big win," Perez said. "MBA has been there from Day One [on this] for all its members...the problem was that [lack of transitional licensing language] was creating a really big disadvantage. People who worked at banks couldn't leave; if they wanted to leave, they'd have to wait 90, 120 days depending on the state...transitional licensing is not only a big win by MBA for the industry but it's what MBA has always done-support its members and more importantly, support the consumer.
Perez said the CMB designation "sets a standard that you're a professional in the industry. [With the designation] you're being viewed as not just having a job, but a career where you've allowed yourself the opportunity to keep growing...it's no surprise that seven of the past 10 MBA Chairmen have been CMBs; it earns you more respect because it's like earning an MBA--you went to the next level."
Perez added that earning the CMB has afforded him the opportunity to give back. "Since I've gotten my CMB, so many people have asked me questions and there's a lot more interest," he said. "It allows you to give back, which is something we should be doing."
Other videos in the MBANow series can be viewed at the MBANow website: https://www.mba.org/get-involved/stay-connected/mba-now.