The mortgage Professional shall act in accordance with any laws, rules, and regulations of the Commonwealth of Kentucky and in accordance with the Bylaws of the Kentucky Association of Mortgage Professionals.
The mortgage professional shall perform business in a manner reflecting honor and integrity and shall avoid and report fraudulent and unethical practices to the Association. The mortgage professional pledges to protect and promote the interest of the client.The obligation of absolute fidelity to the client’s interest is primary. The Mortgage professional shall abide by generally accepted principles of real estate valuation when reporting to the lender regarding the valuation of the offered collateral for a loan. The mortgage professional shall advise the relevant parties of any equity interest he/she may have in the collateral offered as security for the mortgage loan. The mortgage professional shall not advise, advertise or propose terms and conditions not available and not likely to be made available. The mortgage professional should attempt to put all agreements into written form and shall abide by all agreements made, whether written or oral. The mortgage professional shall not speak disparagingly of the business practices of a competitor or a transaction being negotiated by a competitor. Disputes between members shall be resolved by decisions of the Ethics and Bylaws Committee.
Kentucky Association of Mortgage Professionals • P.O. Box 1641 • Owensboro, KY 42302 PH 270-929-2836 • FX 270-574-0005 • kmba@roadrunner.com
