SOURCE: CMPS Institute

January 15, 2007 13:13 ET

CMPS Mortgage Certification Helps Consumers by Advancing Suitability Standards

A Beleaguered Industry Takes a Step in the Right Direction

ANN ARBOR, MI -- (MARKET WIRE) -- January 15, 2007 -- Many homeowners are frustrated and confused with the myriad choices in today's mortgage market and the lack of both ethics and financial knowledge among many mortgage providers. Life expectancy is higher than ever before, health costs are skyrocketing, pensions are shrinking, social security is not secure and corporate America has gone through one bankruptcy after another. Certain real estate markets are experiencing signs of a "bubble" and "exotic" mortgages represent a greater market share than ever before. Today's mortgage market can be a dangerous place for some consumers. These signs point to the fact that homeowners and buyers need expert advice on how to manage their mortgage, cash flow and home equity.

In the face of all this, a core group of mortgage professionals are making a positive difference in the lives of their clients. These professionals call themselves Certified Mortgage Planning Specialists (CMPS), and their objective is to empower clients to achieve their life goals through financial planning with a focus on mortgages and debt management. Many CMPS professionals work in a collaborative team environment with CPAs, attorneys and financial planners in helping clients implement mortgage strategies that are suitable for their financial circumstances.

The CMPS designation is administered by the CMPS Institute, based in Ann Arbor, MI. It is the first and most highly acclaimed mortgage planning certification in the industry. CMPS enforces best practice standards through its exam, a code of ethics and continuing education requirements. Since its launch in August 2005, the CMPS Institute has certified over 1500 professionals with approximately 2700 mortgage lenders and brokers enrolled in the program. "This is the first nationwide effort in the industry to professionalize individual lenders and brokers through testing and education in the relevant areas of financial planning," says Gibran Nicholas, Chairman of the CMPS Institute. "Our mission is to empower key stakeholders in the mortgage and financial industry by standardizing the mortgage planning process," says Nicholas.

This standardization of mortgage planning advice is resulting in many consumers being able to successfully:

--  Fund college expenses for their children
--  Provide long-term care for themselves and elderly relatives
--  Avoid costly mistakes when investing in real estate
--  Fund a retirement saving plan
--  Integrate their mortgage strategy with related financial and tax
    planning needs
Some of the top trainers in the mortgage industry support the CMPS certification and contribute to the curriculum. The CMPS faculty includes Barry Habib, who is a keynote speaker at many industry events and is regularly featured on CNBC and other news networks as an industry expert. The faculty also includes Sue Woodard, a highly sought after industry speaker, trainer and writer who hosts the Home & Wealth Radio Show out of Minneapolis every Sunday morning.

The CMPS curriculum incorporates five essential skill sets including mortgage and real estate taxation, financial market and interest rate analysis, cash flow and debt analysis, real estate equity management, and real estate investment analysis. CMPS certification is a step in the right direction for the mortgage industry and the borrowers they serve.

Financial reporters seeking to interview CMPS professionals, their clients and the financial advisors they work with can contact Gibran Nicholas at, or 734-385-6177. Financial Reporters can also request a complimentary media pass to attend CMPS workshops. CMPS workshops have an average attendance of 200 and there are 10 events scheduled nationwide in 2007.

Contact Information