Contact: Craig McMurtrey, President, 866-845-2622, 256-767-4000

MONTGOMERY, Alabama, April 9 /Christian Newswire/ -- The Alabama Mortgage Brokers Association (AMBA) converged on the State Capitol today from every corner of the state to launch -- much needed mortgage reform. AMBA President, Craig McMurtrey announced today, "We have been trying to bring about statutory mortgage reform for years. With the national crisis grabbing daily headlines, it may be our year to solidify real mortgage reform and Restore Public Trust." McMurtrey went on to say, "Every day when we pick up a newspaper, watch TV or listen to presidential debates, we are confronted with the sobering reality of the side effects of a mortgage lending system that has been temporarily disfigured because of greed and fraud. This spiraling trend has had a monumental, devastating and negative impact on consumer confidence and public trust has been compromised in our industry. Today, we are here in Montgomery announcing a Two-Step Action Plan to bring about Mortgage Reform and Restore Public Trust."

Step One of AMBA's Action Plan is Statutory Reform. AMBA has worked side by side with the State Banking Department and members of the legislature to author legislation that meets our goals of true mortgage reform. McMurtrey states, "We support mortgage reform legislation that embodies the following essential key tenets: Additional licensing requirements by the state that will invoke licensing & continuing education for all loan officers for any company assisting the consumers of Alabama. Equip the state with the statutory authority to regulate out of state companies who are currently unbridled and preying on innocent Alabama consumers

Step Two of our Action Plan is launching a Mandatory Lending Integrity Seal of Approval. McMurtrey elaborates, "Today, we join the National Association of Mortgage Brokers (NAMB) in sponsoring the Lending Integrity Seal of Approval for Mortgage Brokers in Alabama. This seal is only earned by rigorous prerequisites. The Lending Integrity Seal of Approval is a bold step to transform our industry by helping consumers identify; mortgage professionals who meet the highest ethical and professional standards. To earn the right to display the Lending Integrity Seal of Approval, a mortgage broker or loan officer must: Be a member of the AMBA, pass a rigorous national criminal background check, attend professional education training, including ethics training and adhere to NAMB's Code of Ethics and Standards of Best Business Practices and abide by NAMB's formal ethics grievance review process. The Integrity Seal is available in Alabama and the public will begin seeing AMBA members all over the state displaying this important industry seal.

McMurtrey concludes, "We believe in the strongest possible terms that these Two Monumental Steps of Mortgage Reform will profoundly re-cast our industry to protect consumers. Alabama is on our watch, and we have taken bold and aggressive steps today that will RESTORE PUBLIC TRUST."