Richard Booth, CMB
Interlaken, N.J.

About Richard:
A graduate of Seton Hall University in 1986 in History and Marketing, Rich Booth has been involved the Mortgage Banking industry as an originator for over 10 years. He resides on the Jersey Shore where he serves as a Councilman, a member of the Planning Board and a Rotarian. Mr. Booth is married with three young daughters.

CMB Motivation and Challenges:
I recently received my CMB designation. I want to give my clients the comfort of knowing that the largest personal financial transaction of their lives is being handled by a professional who has made a commitment to his profession.

Aside from learning the secondary market area of mortgage banking, it was an artful balance of family and work.

Career Impact:
It has demonstrated to my clients, wholesalers, and referral sources that I am a dedicated professional.

Business Impact:
In this current environment of competitors leaving the industry, the CMB Designation reinforces to my clients that I am here to stay. It has given them comfort that I am always available to provide them with sound financial advice.

Importance:
Mortgage financing is changing and if you want to succeed you need to have the proper credentials. The CMB is the gold standard.

What is the most significant issue facing the real estate finance industry today?
Credibility. We need to move beyond the "lowest rate & fee" mentality that has driven this industry for far too long and start providing our clients with sound mortgage planning advice they can trust.

What are the hottest trends you see that will impact the industry in the future?
The retirement of the Baby Boomers will significantly change the way mortgages are written. Also, with the current housing crisis related to the sub-prime market, I predict a movement towards more strict standards that will require those of us in the business to maintain to insure predatory lending does not make a comeback.

How has your experience as a CMB prepared you to handle the issues and trends you listed above?
Because of this "gold standard" designation, I believe I am far better equipped to address the upcoming changes in our business than others. I have a more in-depth understanding of the issues and principles necessary to achieve the highest work ethic and trust between the mortgage industry and my clients.

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