FORT WORTH, Texas, Nov. 14 /PRNewswire/ -- The Mortgage Bankers Association (MBA) has awarded Barry Baker, Default Servicing Vice-President, Colonial Savings, the Certified Mortgage Banker (CMB) designation. Baker joins a select number of real estate finance professionals who have exhibited their superior knowledge, understanding and competency in residential and/or commercial real estate finance by earning the CMB designation. The CMB, the highest professional designation for the real estate finance industry, was presented to Baker at a ceremony held at MBA's 93rd Annual Convention & Expo in Chicago, IL.

CMB candidates must amass 150 points earned through a combination of professional experience, secondary education and continuing education through MBA-sponsored events and CampusMBA courses, and participation in MBA at the local, state and/or national level. After accumulating the required points and passing a comprehensive written exam, candidates must demonstrate industry knowledge by passing an oral exam conducted by a panel of Certified Mortgage Bankers.

According to Doug Duncan, MBA's chief economist and senior vice president of research and business development more than 900 mortgage banking professionals have received the CMB designation since its inception in 1973. He adds, "The CMB gives mortgage banking professionals an edge in today's global market. Not only is it an asset for the CMB professional, but it's also an asset to the industry and his or her respective company. With an ongoing commitment to knowledge, ethical standards, and professionalism, companies are turning to the CMB as a way to increase business and gain reputability in the industry."

MBA Chairman John M. Robbins, CMB said, "The CMB community is made up of professionals who strive to contribute to the future success of our industry. The CMB designation truly is the pinnacle of dedication, excellence and integrity in the mortgage lending industry. I take pride in being part of this community."

Designation candidates have the option of choosing among the Commercial CMB, Residential CMB or Master CMB designations. The Master CMB is a combination of both commercial and residential mortgage banking disciplines, while the Residential CMB and Commercial CMB focus on their respective subfields of the mortgage industry. Candidates must either work for an MBA member company or be a member of a recognized state MBA.

About Colonial National Mortgage, a division of Colonial Savings, F.A.

Founded in 1952, Colonial Savings F.A. is a comprehensive financial services corporation headquartered in Fort Worth, Texas, and is one of the largest servicers of mortgage loans in the nation with a servicing portfolio of more than $10 billion. Its primary business channels are all designed to complement the mortgage origination operation. Colonial National Mortgage's Wholesale Lending Division provides loan origination services to mortgage brokers nationwide through a network of eight regional offices. A retail lending division with 20 branches serves homebuyers and builders across the U.S. Its credit union division, CU Members Mortgage, provides mortgage services to more than 600 credit unions in the nation. Colonial Savings also operates seven depository branches throughout the Dallas-Fort Worth metroplex, providing full service banking and consumer loan products. The company is also affiliated with Colonial Life Insurance Company of Texas, Colonial Lloyds, and DuBose and Associates Insurance. With assets of $1.1 billion, Colonial Savings, F.A. is privately held and has also been awarded a Five Star Rating from Bauer Financial, Freddie Mac's Servicing Hall of Fame Award, Fannie Mae's "Excellence in Servicing" award, and the Department of Housing and Urban Development's "Best Practice" award. For more information go to www.ColonialSavings.com .

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Source: Colonial Savings, F.A.

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