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TheBuzz

BY ERIKA ENGLE

Tuesday, June 12, 2001

Mortgage brokers
ready to surf

The National Association of Mortgage Brokers convention kicks off Friday with educational courses at the Hilton Hawaiian Village, but moves on to the Hawaii Convention Center for its opening general session on a busy day for real estate agents -- Sunday, June 17 -- Fathers' Day.

The convention is called, "NAMB 2001 -- Surfing for Success in the New Economy," and the organization's Web site at www.namb.org promises the theme "is more than a play on words," that it's where mortgage brokers "need to be to stay on the leading edge of the technological changes that will impact our businesses."

The opening motivational speaker is "Chicken Soup" author Dan Clark.

Speaking of intellectual, those gathered Tuesday morning will hear from Barry Asmus, senior economist with the National Center for Policy Analysis. Among his previous audiences: attendees of the "Privatizing Social Security Conference" for Western European leaders at the Forbes Chateau de Balleroy in France.

The local thematics continue in some sessions, such as the one called, "Fannie Mae's Surfin' Safari," with talk of the "big kahuna of underwriting," which will, the synopsis said, allow users to "watch the humuhumunukunukuapua'a swimming by."

The NAMB Web site offered no explanation of the "Surf's Up!" title forMonday afternoon.

Likewise, there was no indication what "surprises" might be offered in the "Loanprospector.com" session, which is billed as an "onramp to automated underwriting and more," relating to Freddie Mac's new Web site.

One mortgage company not likely to be present is PinnFund USA, which was shut down by the Securities and Exchange Commission March 22. The company's founder, Michael Fanghella, has been accused of bilking consumers of some $300 million, while financing a lavish lifestyle. A $109 million federal default judgment has been issued against Fanghella, and the U.S. Attorney's office is also conducting a criminal investigation of the Carlsbad, Calif.-based company. Its small Honolulu office closed in March. Authorities believe Fanghella to be in Barbados.

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Erika Engle is a reporter with the Star-Bulletin.
Call 529-4302, fax 529-4750 or write to Erika Engle,
Honolulu Star-Bulletin, 500 Ala Moana Blvd., No. 7-210,
Honolulu, HI 96813. She can also be reached
at: eengle@starbulletin.com