“If you are a loan officer, now is the time to further your industry education, so that cautious consumers can tell you apart from the ‘bad guys’ they’ve been hearing about in the news,” said Keith Tibbles, President of Cobalt Mortgage, one of the largest privately owned Mortgage Bankers in the state of Washington. “I’ve been in this industry for 19 years and never before has consumer distrust with the loan originator been so prevalent. However, it’s been proven that an educated mortgage professional instills trust in their clients and is better equipped to meet the needs of the consumer.”
“Our company has always focused on investing in the education of our loan originators; that education has always paid off in innumerable ways,” added Ernie Gehre, Executive Vice President of Cobalt Mortgage. “In fact, we recently put out a challenge to our originators – if they passed the CMPS® Certification Training and CMPS® Advanced Training courses (our industry’s most rigorous training for mortgage planners), we would compensate them for the course fees.”
“In a country where regulation is traditionally shunned, survey results indicate consumers everywhere ‘greatly welcome’ additional regulation for the mortgage lending industry,” says Gibran Nicholas, Chairman of the CMPS Institute. “It shows tremendous leadership on the part of Cobalt Mortgage to encourage their mortgage planners to not only respond to the regulations that are being imposed on our industry, but to also take a step further and achieve an even higher level of education.”
The CMPS Certification Training incorporates five essential skill sets including: financial market and interest rate analysis, cash flow and debt analysis, real estate investment planning, mortgage and real estate taxation, and ethics and compliance.
Many of Cobalt’s loan officers also completed the CMPS Advanced Training Client LifeCycle™, a highly intensive 20 hour educational course with comprehensive exams that focus on: The Market’s Story, The Client’s Story, College Funding and Retirement Planning, Divorce Planning, and Elder Care and Reverse Mortgage Strategies.
“Our industry is facing daily changes to its very core,” continued Tibbles. “We think it’s best to ground our team members by giving our own money to further educate them and show them our commitment to their success.”
Asked if the education makes a difference in the real world, Jeff Bell, Cobalt’s top producer, says, “CMPS Certification and Advanced Training definitely give you the cutting edge over other loan officers and Cobalt’s commitment to excellence in making sure we are equipped with this education means I can do a much better job for my clients. I can offer them strategies that encompass mortgages, debt, home equity, and real estate investment.”
Christine Madrid, another top producer with Cobalt, says, “Many homeowners have become frustrated and confused with the chaos 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. These signs point to the fact that home owners and buyers need expert advice on how to manage their mortgage, cash flow and home equity. I am now better equipped to make a positive impact.”
A trend toward higher standards and suitable mortgage recommendations is growing in popularity – especially with increased government oversight and regulation of the mortgage industry. “A mortgage professional who dedicates the time and effort to learn about these financial concepts is much more qualified, committed and equipped to serve the complex needs of today’s home owner and buyer,” says Nicholas.
Cobalt Mortgage is one of the largest, privately owned Mortgage Bankers in the State of Washington. Headquartered in Kirkland with 7 branch offices, they are able to service their real estate partners in numerous local markets. Cobalt employees are committed to the needs of their clients and to creating a great mortgage lending experience. Their state-of–the-art technology is considered one of the best in mortgage lending. They offer Internal Underwriting, Processing and Funding, meaning they close loans quickly, efficiently and effortlessly. Cobalt strives to make a positive impact in the communities they serve, sponsoring many benefits and charities. The last two years the company has produced over $2 billion of loans, exceeding expectations within the mortgage industry. Cobalt Mortgage is committed to more than just great service; their consultative approach to lending recognizes that one needs to find the right mortgage solution and that that decision is far more complicated than it was a few years ago.
