Code of Conduct


Duties to Clients & the General Public


Code of Conduct 1.1:  Honesty

CMPS members will not deliberately mislead consumers or make false statements regarding any financial transaction. CMPS members will avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the transaction, closing costs, fees, points, loan amount, loan program, mortgage strategy or interest rate. This includes reasonable explanation of the risks involved in reverse mortgages, interest-only, deferred-interest and adjustable rate mortgages.  CMPS members will not engage in any type of financial fraud in their personal or business dealings.

Code of Conduct 1.2:  Advice

CMPS members will advise clients to seek legal, tax, and investment advice from qualified advisors prior to making decisions involving mortgages or real estate. CMPS members will not engage in activities that constitute the unauthorized practice of law and will recommend that legal counsel be obtained whenever the interest of the client requires it.

Code of Conduct 1.3:  Communication

CMPS members will communicate professionally with clients and strategic partners. Specifically, CMPS members will:

  • Return phone calls and emails in a timely manner
  • Provide regular updates during the loan process
  • Avoid the use of profane and lewd language
  • Communicate in a way that is clear and concise

Code of Conduct 1.4:  Competence

CMPS members will conduct their business affairs in a way that demonstrates reasonable competency and proficiency. CMPS members will conduct proper research on behalf of the client or put the client in contact with more suitable professionals if they are unable to help. CMPS members will respect the time of clients and strategic partners and minimize the amount of effort required of them by applying reasonable knowledge, skills and resourcefulness.

Code of Conduct 1.5:  Relationship and Impact

CMPS members will conduct their business affairs in a way that puts the client relationship ahead of the transaction. This means that CMPS members will take reasonable care to:

  • Notify the client if he/she would not benefit by engaging in a transaction
  • Help the client understand the options presented

Code of Conduct 1.6:  Continuous Improvement

CMPS members will regularly seek to improve their loan process and their client and strategic partner relationships. This includes conducting surveys after each transaction, recording the client's level of satisfaction and acting in a reasonable manner when given suggestions for improvement.

Code of Conduct 1.7:  No Referral Fees

In accordance with the Real Estate Settlement Procedures Act (RESPA), CMPS members will not compensate nor offer to compensate, directly or indirectly, any third party for a client referral or mortgage transaction referral provided to the CMPS member. CMPS members will not receive, directly or indirectly, any form of compensation for referrals provided by them to other mortgage professionals or CMPS members.

Code of Conduct 1.8:  Legal Compliance

CMPS members will comply with all the laws of the United States and each individual state where the member lives and/or conducts business.  This includes compliance with the Regulation N and Z advertising rules, and all other state and federal laws and regulations pertaining to mortgage loan origination.  


Duties to CMPS Members & the CMPS Institute





Code of Conduct 2.1
:  Don't Misuse the Designation

Only active CMPS members in good standing may use the CMPS designation in advertising or other representations to the public. Potential CMPS members who have not yet passed the CMPS exam may not refer to their status in advertising and other representations to the public as having any affiliation with the CMPS Institute. CMPS members may not present themselves as holding any professional certification, including the CMPS designation, to which they are not entitled.

Code of Conduct 2.2:  Ethics Committee

If charged with unethical practice or asked to present evidence or to cooperate in any other way, in any professional standards proceeding or investigation, CMPS members will place all pertinent facts before the proper committees of the CMPS Institute and will take no action to disrupt or obstruct such processes. CMPS members participating in the Ethics Committee will not make any unauthorized disclosure or dissemination of the allegations, findings, or decision developed in connection with an ethics review, hearing or appeal.

Code of Conduct 2.3
:  No Threats or Obstruction

CMPS members will not obstruct the CMPS Institute's investigative or professional standards proceedings by instituting or threatening to institute actions for libel, slander or defamation against any party to a professional standards proceeding or their witnesses based on the filing of an ethics complaint, or testimony given before the Ethics Committee.

Code of Conduct 2.4:  Honesty & Integrity

CMPS members will not knowingly or recklessly make false or misleading statements about competitors, their businesses, or their business practices. CMPS members will not knowingly or recklessly file false or unfounded ethics complaints. CMPS members will not intentionally impede the CMPS Institute's investigative or disciplinary proceedings by filing multiple ethics complaints based on the same event or transaction.

Code of Conduct 2.5:  Don't Steal From Other Members

When sought or brought in by another CMPS member to jointly consult or provide mortgage planning services for his/her client, CMPS members will not solicit that client for products or services inconsistent with the scope of services sought by the other CMPS member. However, this does not prohibit CMPS members from engaging in mortgage planning relationships with clients when CMPS members are contacted directly by the client of another CMPS member regarding the creation of a mortgage planning relationship, and CMPS members have not directly or indirectly initiated such discussions.

When seeking information from another CMPS member concerning his/her business practices or area of expertise, CMPS members will keep such information confidential and use it only in their own mortgage planning practice. CMPS members will not profit by selling the systems or business ideas of other CMPS members.

Code of Conduct 2.6:  Pass on Your Own Merit

When taking the CMPS exam, potential CMPS members will not:


  • Print out the exam and/or distribute or communicate the questions, answers and/or multiple choice options to others

  • Have someone else take the exam on your behalf

  • Have another person provide the answers to you, for you or with you

  • Help someone else pass the exam by providing answers to you, for you or with you

  • Pass the exam by any means other than your own individual merits and abilities



When fulfilling continuing education (CE) requirements, CMPS members will not:


  • Have someone else participate in the CE activity on your behalf

  • Participate in the CE activity on behalf of another CMPS member

  • Fulfill the CE requirements by any means other than your own individual merits and abilities




Duties to Co-Workers





Code of Conduct 3.1:  Communication

CMPS members will communicate professionally with co-workers. Specifically, CMPS members will:

  • Return phone calls and emails in a timely manner
  • Avoid intimidation tactics and the use of profane and lewd language
  • Communicate in a way that is clear and concise

Code of Conduct 3.2:  Competence & Respect

CMPS members will conduct their business affairs in a way that demonstrates reasonable competency and proficiency. CMPS members will respect the time of co-workers (including assistants, processors and underwriters), and minimize the amount of effort required of them by applying reasonable knowledge, skills and resourcefulness. CMPS members will maintain a professional demeanor and respectful attitude, especially in stressful situations.

Code of Conduct 3.3:  Continuous Improvement

CMPS members will regularly seek to improve their loan process and their co-worker relationships. This includes acting in a reasonable manner when given suggestions for improvement. CMPS members will continuously lead themselves and others on their team toward higher standards of excellence.

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About

CMPS Institute is a national organization that certifies mortgage bankers and brokers.  We provide mortgage planning certification, sales training and technology systems to banks, credit unions, mortgage companies and individual loan originators.  Our mission is to help homeowners and homebuyers improve their lives by using the right mortgage strategies.

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