Mainstream Funding Network, Inc. - New York Mortgage Broker

New York Association of
Mortgage Brokers

Code of Ethics

	The members of the NYAMB, As responsible providers to the public of mortgage financing services, and recognizing their duty to provide such services with the utmost professionalism, integrity, competence and diligence, subscribe to the following code of ethics:

	MEMBERS OF THIS ASSOCIATION SHALL:

I.	Conduct their business in a competent professional manner, insuring that both themselves and their personnel are knowledgeable in the particular area of mortgage brokering in which they participate and act in compliance with sound industry practice.
II.	Make every reasonable effort to assure advertising and other business practices are not misleading to the public, nor shall such advertising or other business practice contain any misrepresentations of fact.
III.	Keep themselves informed with respect to all applicable laws and regulations, and comply therewith.
IV.	Cooperate in every appropriate way with governmental bodies charged with regulating the practice of mortgage brokers, assuring the public of fair and honest treatment with respect to mortgage financing.
V.	Conduct themselves with integrity and dignity in their dealing with the public, and recognize and respect the confidentiality of their clients.
VI.	Attempt to reduce all agreements to writing and provide copies to all parties engaged. When agreements are not in writing, members shall accord all oral agreements the same sanctity given to written agreements.
VII.	Conduct their business so as not to deny equal professional services to any person for reasons of race, color, creed, sex, religion, national origin, marital status, age or disability.
VIII.	Take care not to make representations concerning interest rates or material facts that are not realistic.
IX.	Make all reasonable efforts to facilitate each loan application in a timely manner.
X.	When requested by client, promptly advise client of approval, declination or other material information which comes to the mortgage brokers' attention in the processing of any application for a mortgage loan; and to give such advice, whether or not requested, when the broker has reason to believe that such disclosure is necessary to protect the interest of his or her client.
XI.	Take all steps to avoid conflicts of interest with their clients, and if a conflict of interest comes to the attention of a member, to promptly disclose such conflict to all parties.
XII.	Not engage in activities that constitute the unauthorized practice of law, and shall recommend that legal counsel be obtained when in their best and honest judgment the interest of any party to a mortgage transaction requires legal representation.
XIII.	Cooperate in all respects in the event a complaint is made to this association, and place all pertinent facts and information relative to such complaint before the association's duly appointed hearing board if a hearing is held regarding any particular case.

Adopted June 9, 1988 - NYAMB Board of Directors