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CMPS Group on Active Rain

It's come to my attention that we have several members that have joined the CMPS Active Rain Group, who do not have their CMPS Designation.

This is my fault. Perhaps I was unclear when setting this group up that it is for professionals who have earned their CMPS Designations. There are many mortgage planning groups all ready available to participate in Active Rain. This group is for CMPS Members only. I know there are many solid "Mortgage Planners" out there, however actually going through the steps to become CMPS and passing the exam is different than how you practice your business and what you put on your business card.

Any thoughts?

Posted by Rhonda Porter CMPS on 04/13/2007 12:22 PM

Comments (11)

11 Comments on CMPS Group on Active Rain

APR

2007

I'll be happy to leave the group if that is the case. I believe the CMPS designation helps to establish credibility among like-minded mortgage professionals. I hold the values, ideas, and principles behind CMPS very close, and I practice then everyday. I personally have made the choice to not pay for the letters "CMPS" behind my name because I understand the concepts and practice them 100% everyday. If the letters are more important than my belief system and actions for this particular group, then I will remove myself from the group. I apologize for the confusion Rhonda. Best of luck with the group.

Chad,

"The Letter" are something that CMPS Designees had to earn. I don't doubt your values or business practices. When I took my exam, 25% of the very dedicated professionals who made the committment and shelled out some bucks, failed the first try.

I'm sure fellow CMPS members feel it's a mark of achievement. There are other mortgage planning groups for professionals who don't feel the need for the letters/designation.

All my best,

Rhonda

I welcome other members of the group to weigh in with your thoughts on this matter.

I understand your point. I think it takes many professionals years to gain the knowledge level you probably left your CMPS training with. My personal, "mark of achievement" is the level of advice I'm able to give my clients. I know that 1 out of 100 "loan officers" will give similar advice. At this point, I would be paying for the "mark of achievement" of 4 letters, and that isn't valuable to me. I refuse to pay for a designation. Like you said, it should be earned. I have personally earned the identical level of professionalism and beyond, however, I chose a different path. CMPS is a great program, but it's not the only one.

APR

2007

Rhonda,

I agree with the concept of this group and the value the letters bring, which is why I took my exam way back when it started (I was the first in Florida and the 28th nationwide to earn the designation).

Regarding the whole mortgage planning arena, it is quickly becoming used by individuals that call themselves "certified mortgage planners" that really do not truly understand the concepts. (Chad, I also do not doubt your level of skill or expertise). The problem is that the CMPS and Certified Mortgage Planning Specialist are the only trademarked designations and are clearly the most recognized in the industry. The reality is that I could have just been born and decided to call myself a certified mortgage planner. The CMPS designation has to be proven through testing and demonstrating your knowledge, expertise and skill.

With that understanding, I recommend anyone practicing mortgage planning get the designation simply to show everyone your abilities. Without it, you are, unfortunately, categorized with every other so-called mortgage planner. I know that is a harsh way to say it, but it is the unfortunate truth.

Whenever there is something that can set you apart from the rest of the market and the customers begin to ask for it, it gets exploited by the unscrupulous people out there in it for the money. While there are many out there, like you Chad, and others here in the AR community, that practice mortgage planning and understand the concepts, without the CMPS designation, the only way to show you are different from those exploiting mortgage planning is to get the designation.

Just my observations, take it or leave it. I don't make any money off telling people to get the designation, so feel free to not get it also.

APR

2007

Thanks for weighing in Robert. I completely understand your points, and I truly value your insight. I will tell you that acquiring the CMPS designation does not keep many loan officers out there from exploiting the ideas and concepts of mortgage planning. It all comes down to ethics and values. I have seen CMPS designated "loan officers" that exploit their customers and bend the ethical boundaries I personally would not. In essence, the designation is a good first step, but it doesn't make an unethical person ethical.

Here in Kansas, the designation really doesn't mean anything to the general public. When I refer to myself as a Professional Mortgage Planner or an Equity and Asset Advisor, my clients almost always ask me to explain. Personally, I prefer it that way, because they are asking me to define what sets me apart from every other loan officer they've ever met. I didn't have to tell them...they asked...and that's powerful. The fact of the matter is, I haven't met one person outside of the mortgage field that knows what the designation stands for, or what it means to earn it.

While I think that the knowledge, expertise, and skill developed through earning the CMPS designation are extremely valuable, it is not expertise that can't be gained elsewhere. I know that there is a tremendous need for this designation in the marketplace, and Barry Habib and the rest of the MMG crew are becoming very wealthy by introducing the CMPS designation to the mortgage industry. I have worked hard to attain the knowledge, expertise, and skill that embodies a "true" mortgage planner. I just went a bit of a different route to attain it.

Ultimately, I'm just trying to say that the CMPS designation is not the end-all, be-all designation in our marketplace. It may be the only "trademarked designation", but it doesn't make unethical lenders any more ethical...and, in turn, it doesn't make ethical mortgage planners that haven't paid for the training/designation any less ethical. And in many places in this country, the designation means nothing to the consumer. It doesn't set anyone apart here, because not even half of the lenders know what it means, let alone realtors and the general public.

I certainly enjoy the conversation, and I'm happy to have had the opportunity to interact with both of you, Robert and Rhonda. You are both innovators and implementers in our field, and I respect each of you immensely. Keep up the good work!

MAY

2007

Chad,

I agree that the CMPS designation does not guarantee the holder is ethical, but I do know that the CMPS Institute values its reputation and will dismiis anyone violating their Code of Ethics. I also agree that there are those that are knowledgeable that do not carry the designation as well, but due to it being trademarked, those who use it have taken the exam and proven their knowledge to the public that no one else can verifiably say they did.

I can see from what you have posted that you understand the concepts. I know the CMPS designation is still relatively new and most people do not know what it means, but it also gets the conversation going as you stated.

The ultimate goal among CMPS designees and those, like yourself, that demonstrate the skill as well, is that the homeowner gets the mortgage that works best for them in their unique situation. I am glad you have commented here and engaged in the discussion. I respect you as well and look forward to more discussions on other posts.

JAN

2008

Rhonda,

I can appreciate that you are looking for mortgage planners with the CMPS designation. I found my profile there, so I'm not sure if maybe you just didn't see it.

I went to Henderson, Las Vegas in July 07 to obtain my designation. Speakers were of coarse Gibran N., Barry Habib, Sue Woodard, Doug Andrews, Jim Mcchman, Edward Jamison and others so I do have my designation, since I past all of my test that were given. I believe that warrants be to be part of this elite group.

Thank you

Bernie Germani CMPS

Thanks, Bernie.

You'd be surprised how many people post to the CMPS group who have not achieved their designation. I must have misspelled you name when I was checking.

Best regards,

Rhonda Porter CMPS

Licensed Loan Originator 510-LO-32047

JUN

2008

Rhonda,

Thank you for taking the time to create this group. I literally typed in the letters CMPS to create a new group and thought, maybe there is one already! :) As far as your desire to keep this group to CMPS grads, I certainly agree. It's not like I don't think the guy in the office next to me cannot practice the same belief system and concepts just because he does not have the CMPS designation, its just that this group is for CMPS'. I think the simple argument to some of these comments are, just because you practice medicine and know as much as an MD or know the law but didn't pass the BAR exam, there are certain steps you have to take in order to be recognized in that profession, like it or not.

Be Blessed!

Travis Neliton, CMPS (since Dec 1, 2006)

Travis,

first of all, I welcome all help and support from any CMPS members in this group. I'm afraid I've been a bit absent just trying to keep up with the day to day in our industry. And I thank you for your support and agree completely.

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