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TMBA CODE OF ETHICS |
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Since its founding, the Tennessee Mortgage Bankers Association has placed a high value on honesty, integrity, and service. All TMBA members are expected to conduct business in accordance with the highest standards of business ethics. The TMBA expects ethical behavior from its members and encourages it in those with whom we do business. Together with the Canons of Ethics and Standards of Practice of the Mortgage Bankers Association of America, which the TMBA has also adopted, this Code of Ethics offers a standard for business and personal conduct for TMBA employees. The TMBA Code of Ethics is concerned primarily with the behavior of member firms and their employees in four primary areas: Impartiality, Confidentiality, Fiduciary Responsibility, and Legal Responsibility. It is expected that all member companies will conduct business in accordance with the law and with standards set forth in this Code of Ethics. Impartiality – TMBA members should not discriminate in providing access to mortgage credit to anyone on the basis of age, race, creed, color, sex, marital status, familial status, disability, religion, or ethnic or national origin. Only objective factors affecting the market value of the security or the credit standing of the borrower should be considered in underwriting mortgage loans. Confidentiality – TMBA members should provide for confidential treatment of all credit and loan information in their custody and shall only release such information with the prior approval of the applicant or mortgagor. Members should guard the confidentiality of information, protecting both credit and loan information regarding parties with whom we do business. Fiduciary Responsibility – TMBA members should administer all funds received in escrow, reserve, impound, or payments on account and shall provide for the continuous monitoring, maintenance, and proper reporting of such accounts. Members must disclose any personal interests in any mortgage transaction and shall avoid any conflict of interest in all business dealings with both the public and other members. Legal Responsibility – TMBA members should comply with all applicable laws and regulations relating to their business and the mortgage banking industry. In addition to complying with applicable laws, TMBA members agree to provide equal employment opportunities and avoid practices that include discrimination, harassment or unfair conditions. |