MBANow: Tony Thompson, CMB on Transitional Licensing, MBA Advocacy

The Mortgage Bankers Association released a new MBANow video featuring J. Tony Thompson, CMB, on transitional licensing and its potential impact on independent mortgage banks, and the value of MBA membership.

The video can be viewed at https://www.youtube.com/watch?v=apxC_SLlmGo&feature=em-uploademail.

The recently passed Economic Growth, Regulatory Relief and Consumer Protection Act included a long-supported MBA provision allowing transitional licensing and reciprocity for mortgage loan originators. Thompson, Vice President with Silverton Mortgage, Atlanta, and founder and CEO of the National Association of Minority Mortgage Bankers of America (NAMMBA), said as an executive in charge of hiring at an IMB, the provision is a welcome development.

“As a recruiter, it’s very challenging,” Thompson said. “This will certainly help MLOs who are looking to transition…to get them to feel comfortable about being able to successfully transfer to an IMB.”

Thompson said MBA advocacy has had “tremendous impact” in the industry. “Advocacy for our industry is so important,” he said. “At the end of the day MBA strives to help go to bat for every part of the industry.”

Thompson had had his Certified Mortgage Banker (CMB) designation from MBA Education for nearly a decade. He said earning the CMB has been a “life-changing experience,” both professionally and personally.

“It’s opened up a lot of doors in terms of being able to connect and really build relationships and have a network of industry subject-matter experts and industry professionals that could help me whenever I have a question that’s outside of my toolbox,” Thompson said. “From a personal standpoint, I’ve made and had relationships since I received my CMB that I would not have come in contact. I encourage everyone when I’m out in the marketplace and out in the industry to look at achieving and attaining their CMB.”

Other videos in the MBANow series can be viewed at the MBANow website: https://www.mba.org/get-involved/stay-connected/mba-now.