New Mortgage Lending Association Crosses National Lines, Wins Industry Praise

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Striving to be the symbol of achievement, stability, and integrity within the mortgage industry, The American Association of Lending Professionals (AAOLP - aims to create a national membership of lending professionals that crosses over organizational lines and closely monitors its members.

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Within the mortgage industry today there is a very fragmented system of professional organizations, with conflicting state and federal laws. While one state may require lending professionals to be licensed, many do not. Certain lenders combat fraud by reporting incidents to the local or federal authorities. Unfortunately, due to national security issues, the federal authorities do not have the resources to combat fraud on an individual loan basis. On the local level, white collar crime is difficult to prosecute. In most cases, lenders simply turn a loan file down or are left to deal with the unfortunate and costly outcomes involved with fraudulent loans.

This is where the American Association of Lending Professionals (AAOLP - comes into the picture.

"This is not your typical professional association, where basically anyone who pays a membership fee can become a member. Our membership candidates must meet our strict eligibility requirements which include checking for criminal backgrounds, competency, clean work history, references and the willingness to abide by AAOLP membership guidelines at all times," states Scott Marshall, president and founder of the AAOLP.

In addition to providing a professional certification which does not currently exist within the mortgage industry, AAOLP also provides its members with a variety of other benefits as well; including preferred pricing from approved lenders, affiliate discounts, medical plans, the latest industry news and unparalleled industry networking opportunities - all for a very low annual fee once a candidate is formally approved for membership.

"Loan files processed by AAOLP members are better quality files and are of greater value on the secondary market. Assume you have two files with similar characteristics. The credit scores are the same, the loan amounts are the same, and the income ratios are the same, etc. The only difference is, one file was processed by a member of the AAOLP and the other was not. Is the file processed by the AAOLP member of greater value? The answer is a resounding…yes," says Scott Marshall.

Upon its launch this January, The AAOLP is expected to have a huge industry impact, based on the fact its members must operate under the highest moral and ethical standards. Even better, AAOLP will also be reaching out to consumers as well. Prospective borrowers will be able to verify if their mortgage professional is an AAOLP member in good standing. Consumers can also file a complaint if they run into any type of issue with an AAOLP member.

"Considering a mortgage is the single largest financial transaction most Americans will ever undertake, it is amazing the industry has gone this long without any centralized form of regulation, certification, or avenue in which to hold individuals responsible for their actions. Our goal is to give experienced, ethical individuals an opportunity to separate themselves from others that rely on deception to make a living," says Scott Marshall.

"It is about time that a professional organization took a stand within the mortgage industry. We are very impressed with the AAOLP in that they are sacrificing membership volume for the quality of their members. Even the large, national mortgage industry professional associations do not attempt to screen their members as AAOLP does. Kudos and hats off to the AAOLP team for a much needed concept. We are endorsing the American Association of Lending Professionals as a 2006-2007 Top Industry Professional Organization Pick." says Jonathan Cosie, CEO and Founder of MortgageTrends as well as RealEstatePro News which are leading industry publications owned by The Midtown Consulting Group -


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