Considering a new home? A second home? What are the financing options? What do you look for in a mortgage broker? The Wisconsin Association of Mortgage Brokers (WAMB) would like to help you through the process. We pride ourselves on our commitment to continually educating our members, and we’d like to be sure you are a well-educated consumer. Check back often for updates and new information!

WAMB Member Code of Ethics and Standards of Professional Practice (PDF file)
Wisconsin Association of Mortgage Brokers members agree to comply with the standards in this document. See what you can expect when you use a member of WAMB for your financing needs.

Who are Mortgage Brokers? (PDF File)
As independent, small business owners who rely heavily on repeat and referral customers, mortgage brokers work hard to ensure borrower satisfaction and provide a high level of personalized service to their customers.

Wisconsin Loan documents

• Wisconsin Mortgage Broker Agreement (PDF File)
• Consumer Disclosure Statement (PDF File)

WAMBs Position on Current Issues

• Trigger Lead Legislation (PDF File)
• Consumer Alert on Trigger Leads (PDF File)
• Mortgage Reform (PDF File)
• Payment Shock Disclosure White Paper (PDF File)

Where can you go to report fraud?

• namb.org

Glossary of Terms (PDF File)
What is an ARM? How about a fixed-term loan? Find out here.

Primary Laws Regulating the Mortgage Industry
There are laws in place to protect consumers. Call us to find out more:

Real Estate Settlement Procedures Act (RESPA)
Prohibits cost-increasing abusive practices such as kickbacks and referral fees and requires advance disclosure of settlement service costs.

Truth-in-Lending (TILA)
Requires disclosure of the cost of credit to the consumer and the terms of repayment.

Equal Credit Opportunity Act (ECOA)
Prohibits discrimination in lending.

Fair Credit Reporting Act (FCRA)
Stipulates the requirements of users of credit reports and disclosure to consumer.

State Licensing
WAMB helped Wisconsin become one of the first states in the U.S. to have licensing requirements for mortgage brokers. There are also ten federal laws and supplemental regulations nationally.