Important Announcement
Registration is OPEN
7th Annual Eastern
Secondary Conference
February 16-17, 2010
Regal Sun Resort
Lake Buena Vista, Florida
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Members Click Here to Register Online
Non-Members Click Here to Register Online
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List of Local Chapters
and 2009/2010 Local Chapter President's
Information
Please visit our chapters. You can click the chapter name to access their web site. There is also a link to send an email.
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Mark Your Calendars
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57th Annual Convention
June 23-24, 2010
Marriott Delray Beach
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Greetings!
This is your Fall news from the MBA of Florida.
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President's Message
by Howard Nelson
GREETINGS...My, how quickly time passes! Here we are in late
October and 2009 is almost gone and many of us are already well into 2010
planning processes. Soon the upcoming Thanksgiving and Christmas holidays will
be on everyone's mind and I want to take this opportunity, first and foremost,
to wish everyone a safe and happy holiday season. Please make sure you take the
time to express your thanks and gratitude, especially to family and those
special friends and teammates that truly make a difference in your life. Reminds
me of an emailed story I received recently entitled;
"Charles Schultz
Philosophy".
We all know Charles Schultz is
the creator of the Peanuts comic
strip, and in this emailed story, his Philosophy raises some interesting
questions;
Who are the five wealthiest people in the world? Who
are the last five Heisman trophy winners? Who are the last five winners of Miss
America?
Can you name ten people who have won the Nobel or Pulitzer Prize? Can you name
six Academy Award winners for best actor and actress? Can you name the teams
that have won the World Series over the past ten years?
Interesting questions, how did
you do? The point here, is none of us remember the headliners of yesterday.
While this list would not include second-rate achievers and are the best in
their fields, the applause dies, awards tarnish and achievements are forgotten.
So, here is another set of questions;
Can you think of a few teachers who aided your journey
through school? Can you name three friends who helped you through a difficult
time? Can you name five people who have taught you something worthwhile? Can
you think of a few people who have made you feel appreciated and special? How
about five people you enjoy spending time with?
Easier questions here, agree? The
lesson here...the people who make a difference in your life are not the ones
with the most credentials, the most money, or the most awards. They are the
ones that care! Let's make a special
point to remember this throughout this upcoming holiday season.
With this in mind, I
want to again, say THANK YOU to MBAF's leadership, our membership, the
Local Chapters and their leaders and members, for two things; 1) their
commitment and time dedicated to serving and being a part of such a worthwhile
vocation - being a Mortgage Banker, and most importantly in my mind, 2),
recognizing the "value" in and committing to and being an active member of a
trade association that is looking out for you, your careers and our industry...an
industry dedicated to making sure the American Dream of homeownership remains
available and affordable, legislative representation and a forum for education
and networking.
Many times, I am asked, "Why should I be a member? What do you offer? What will I get
out of it?" In my mind, the preceding statement answers this question of VALUE!
For someone who would have this question, I would ask the question back of why
you would not want to be a part of an association that looks out for you, your career
and industry, while providing you legislative representation and educational
and networking benefits.
Another key element as to why you should be a member is
about GIVING BACK...giving back your knowledge and experiences to the next
generation and giving back to the worthwhile communities and charitable
organizations that our associations at every level support with our time and
dollars, making our communities better places because you have been involved,
you have been a part of something that made a difference. Reminds me of the
late President Kennedy's quote..."ask not what your country can do for you, but
what you can do for your country". Please think about getting more involved in
MBAF and your Local MBA Chapters in 2010!
In closing, I am very optimistic about 2010. We are seeing
and hearing more optimistic economic reports from many sources, including our
trade partners. In spite of the many challenges we are presently dealing with, Florida still has warm
weather, plenty of sunshine and a place that many still find attractive for
retirement. Our partnership with MBA National continues to grow. We're
continuing to work aggressively on many legislative fronts, at local, state and
national levels. Clearly, there is...STRENGTH IN PARTNERSHIPS - my theme for
2009-2010. I am hearing many success stories already where MBA Chapters and
MBAF have accomplished greater results and successes from working closing with
our industry partners!
Keep it up...let's all have a safe holiday season and looking
forward to a successful 2010 for us all!
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PACMAN
Political Action Commentary Media and Legislative News
by Eric Prutsman, Legislative Representative and John Chludzenski, Legislative Committee Chair
NATIONAL
Work in Congress last
week focused on Rep. Barney Frank's new draft of legislation
creating a Consumer Financial Protection Agency. The revised
proposal, first circulated a week ago, has so far failed to quell much of the
industry's opposition to the overall bill.
Foreclosure Prevention Legislation
Introduced in Senate. This legislation, if enacted, would not allow
servicers to initiate foreclosure until it has been determined that the borrower
does not qualify for a loan modification program. The legislation calls for the
Treasury Department to develop modification requirements that
would apply to all loans, which would limit servicers' ability to offer other
loss mitigation options. The bill also prohibits servicers from applying any
fees that are not specifically provided for in the mortgage. In addition, the
bill provides funding for HUD to offer grants to states for
mandatory mediation programs.
STATE - Eric
Prutsman
Legislation for the 2010
Regular Legislative Session is already being filed. Only ten percent of an
anticipated three thousand have been filed to date, but already the MBAF
is hard at work analyzing the proposed legislation. Three filed bills have
caught our attention and concern:
House Bill 35 by
Representative Darren Soto, prohibits deficiency decrees on final judgments in
foreclosure actions on homestead property.
House Bill 75 by
Representative Darren Soto, establishes the Foreclosure Bill of Rights that
would create a homeowner-activated suspension on foreclosures upon the filing
of a Notice to Invoke the Foreclosure Bill of Rights. The lender would be
required to provide the form for the Notice to Invoke when serving the summons
to foreclosure to a homeowner. The homeowner would then be entitled to
fill out the form which would suspend the foreclosure for what appears to be a
minimum of five months while the lender obtains a new appraisal of the
property, and the court considers the reasonableness of an offers by the
lenders through a court-ordered mediation.
House Bill 125 by Representative Hazelle Rogers, requires lenders to
notify a tenant or lessee if a foreclosure or short-sale is initiated and
provides the tenant or lessee with a first right of purchase of the property at
fair market value. If the tenant or lessee decides to exercise their right,
any funds held in escrow by the lender must by used for the purpose of closing
costs. If the tenant or lessee does not choose the option to purchase,
the lender shall use the escrow funds to relocate the tenant or lessee. A
failure by the lender to comply with the notice requirement will result in
penalties, including attorney's fees.
Each of the bills summarized
above represents a significant departure from current law as it relates to
foreclosures. And unfortunately, the proposed legislation represents a
trend of a number of states around the country to undermine a lender's
investment in a property and create a new statutory framework that will
likely create more havoc in a foreclosure process that has already been
stressed to the breaking point. Rest assured that the MBAF will be speaking
with House and Senate members over the next months to convey the concerns of our
members about these and other bills as they are filed.
LOCAL CHAPTER
CHALLENGES
Collier County - Erica Lolli
Just wanted you all to be aware the Collier
County Commission voted 4 to 1 NOT
to adopt a Proposed Mandatory Inspection of Foreclosed and Vacant Homes.
Instead, the Commission agreed to allow a private market solution that promotes
comprehensive homebuyer education at the time of contract in order to prevent
future instances of homebuyers purchasing properties with unpermitted
improvements and zoning violations. I know that this outcome is
consistent with the national MBA's position on mandatory foreclosure-related
ordinances as well.
When this measure was first
heard by the Commission back in June, the Naples Area Board of Realtors asked
that the stakeholders in this discussion be allowed the opportunity to draft
our own ordinance for consideration by the County. The original ordinance
was extremely burdensome and had many unintended implications for real estate
transactions in Collier
County. The
ordinance that our team developed over the summer was much more focused and
narrower in scope; however, our drafting team did emphasize to the Commission
that a private market solution was already working and that any mandatory
ordinance could hinder the transfer of real estate in our county. This is
a great and rewarding example of what can happen when we come together with our
industry partners during challenging times.
Fort Myers, Fla
http://www.winknews.com/news/local/63640097.html
as reported by Wink News
Foreclosed homes have become big targets for
thieves and law enforcement is often powerless to put a stop to it.
"Even if it is nailed down or screwed down, they'll take it," said
contractor David Southworth. Southworth fixes foreclosed homes, he has has seen
appliances, air conditioners even entire kitchen floors stolen from vacant
homes.
Often, deputies and police officers will witness people removing items from
foreclosed homes, but can't stop them. Cops can't arrest someone for
trespassing if they don't who is supposed to be on the property and who isn't.
"It's frustrating, because they are unable to do anything," said
Bonita Springs City Attorney Audrey Vance. "They have a situation where
they see people doing stuff, they know people are doing it, and yet they have
to meet legal standards."
Bonita Springs and the Lee County Sheriff's Office are pushing for a new
state law that would require banks to notify the sheriff of foreclosed
properties and provide a list of people who are allowed to enter the foreclosed
land.
"I am a strong proponent of this and I think it is a wonderful
initiative," said Lee County Sheriff Mike Scott.
Bonita leaders plan to meet with state lawmakers soon
to discuss the proposed state regulation.
SOAPBOX SHORTS
Be who you are
and say what you feel, because those who mind don't matter and those who matter
don't mind. -Dr. Seuss
WEBLINK EDUCATION
Do you know who your Representatives are and how to contact them?
http://www.myfloridahouse.gov/default.aspx
http://www.flsenate.gov/Welcome/index.cfm?CFID=155417477&CFTOKEN=43358911
LET YOUR VOICE BE HEARD!
JOIN THE MORTGAGE ACTION ALLIANCE!
http://mbaa.org/Advocacy/MortgageActionAlliance
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Chapter Highlights
MBA of Tampa Bay
by Nathanel Bittman
I never knew, I never
understood, I never took the time to look- maybe I made myself not really
look or open my heart to Children in need, because I assumed....
I set one foot in the door of
the Children's Home on Memorial
Drive in Tampa, to
observe and understand the Charity supported by the MBA of Tampa for the last 25 years and I was amazed
by the what I experienced.
As I work harder than I ever
have to survive in a tough economy, fragile industry and on going changes, I
always seem to recycle my memories of the incredible stories I have heard about
the Children at the Children's Home. I realize, I have some control of my
life, my choices, the direction I may take. But the Children at the Home,
do not- they are afraid, lost and in need of love, care and direction. I
could go on and on.... But in short-
The Children's Home does a
magnificent job caring for their children who come from abused backgrounds,
hurtful environments and abandoned households. The Home focuses on
helping them rebuild their lives, hopes and dreams. These Children
are our future and they need us- The Children's Home needs
us.
The time has come for us to
do our Annual Charity Auction November 12th! It is
taking place at the Westin Hotel off of the Courtney Campbell Causeway.
The Venue is beautiful and the night is going to be very exciting and
fun. Please register now for this wonderful cause and fun event. This
year we will have Chris Markowski "The WatchDog on Wallstreet" as our
Host and Auctioneer.
You can register on our
Website at www.mbatampabay.org
We are also looking for
auction items, if you have any donations for our silent auction please email
me, Rusty Wiglesworth or Deanna Crawford with any Auction items you can
contribute. Nothing is too small and nothing is too big!
[email protected]
Chairman of the Fund Raising Committee MBA of Tampa Bay
[email protected]
Master of Ceremonies Children's Home Auction and Past President of the MBA of
Tamp Bay
[email protected]
Current
President of the MBA of Tampa Bay
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Gulf Coast MBA
by Robert Stobaugh
On November 10th, Mary
Wolf - will inspire members and guests of the Gulf Coast MBA with her Training
and Professional Development pearls of wisdom. Mary will speak on 5 keys to
success in business as it specifically relates to the world of Mortgage Banking
and Real Estate. For more information contact Robert at his email below [email protected]
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MBA of Jacksonville
Message to the Jacksonville Members
Kenneth Jones
Let me start by telling you how
honored I am to be the President of the Mortgage Banker's Association of
Jacksonville. I am very excited with what the future holds for our Association
and the fact that I get to follow very successful recent years despite some of
the turmoil our industry has seen. This year I will focus on a few specific
items for our Association. First, I would like to provide educational, valuable
and fun luncheon events for our members. Secondly, I would like to increase our
annual donation contribution to the Ronald McDonald House with your support.
Lastly, I would like to focus on our community by offering our local residents and
customer's with education about our industry and how we can help them in ways
they may not have known otherwise.
For the 2009-2010 fiscal year we
have decided to move our Luncheon's to Maggiano's Little Italy, located in the St. Johns Town Center at 10367 Midtown Parkway, Jacksonville, FL, 32246.
We will have a more extensive menu, a quiet private dining room, and beautiful
atmosphere all at no extra cost from last year. We will be offering multiple
Luncheon events throughout the year, as well as a few evening social events
including a Christmas Party we will co-host with the FAMB of Jacksonville.
Please keep an eye on our calendar to see our next event!
Another focus of the Association
will be our contributions to the Ronald McDonald House. We will host 4 events
that will range of Cooking Dinner for the guests to helping with the
landscaping in the spring! Please make sure you check out our calendar for
updates on those events as well.
And finally, the Association is
going to invest our time, knowledge, and service to help our community in as
many ways as possible. We want the people of our city to be educated in what we
do and what we can do for them. There are many programs available to them as
existing or potential homebuyers and we would like to help educate and
communicate those things to our community.
With your
support in our Association we can do great things for our industry, community
and state. We have an incredible Association Board with a wealth of knowledge varying
across all spectrums of Mortgage Banking. We are eager and looking forward to
providing for our members and our industry.
Thank you for allowing me to serve you as the President of the Mortgage
Banker's Association of Jacksonville.
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New CMB's in Florida
and What is a Certified Mortgage Banker?
Four of our own Florida Mortgage Bankers were recognized at the Mortgage Bankers Convention in San Diego:
Tim Allen, CMB
Richard Higgins, CMB
Claudia Simon, CMB
Kristina Holmen-Mohr, CMB
This is quite an accomplishment, and we are very proud of
them.
For a complete listing of the 38 new Certified Mortgage
Bankers and the background story, here is a link:
http://www.mortgagebankers.org/tools/FullStory.aspx?ArticleId=8179#full
The CMB Society has a group page on LinkedIn. If you have an
account with LinkedIn, and are a Certified Mortgage Banker, please take
a minute to request membership status in this group:
http://www.linkedin.com/groups?gid=924557&trk=myg_ugrp_ovr
What is a Certified
Mortgage Banker?
The
Certified Mortgage Banker (CMB) designation is the industry standard of
professional success. It symbolizes respect, credibility,
ethics, and achievement within real estate finance. Earning a CMB
instantly places you at the top of our dynamic industry and makes you a part
of the elite group that has achieved the highest level of professional
success.
In
these tough times, holding a CMB designation can put you at the top of the
list for career opportunities.
You can
choose to earn a Commercial or Residential CMB. Complete both programs to
earn your Master CMB. Achievement of these designations represents the
epitome of dedication and expertise in the real estate finance industry.
Since
its inception in 1973, the CMB has been the highest
professional designation for the real estate finance industry. The CMB
community is made up of outstanding industry professionals and leaders. With
such a great community, the designation continues to define excellence
within the industry.
Currently
there are over 1000 CMBs nationwide.
Whether
obtaining the designation as a personal achievement in their career, or as a
testament to the industry, CMB designees exhibit the dedication that inspires
other professionals to strive for excellence. In fact, more than 89% of CMB
designees hold the title of vice president or higher, reflecting the level of
leadership and commitment designees maintain.
The
Tools to Succeed
We
have all the right tools to help you succeed. CampusMBA offers award-winning
training to help you meet the requirements and prepare for the exam. And
you can track your progress with your online transcript.
If
you are an individual who would like to demonstrate your commitment to
professional excellence and distinguish yourself as a leader within the
industry-the CMB designation is the program for you.
When
the program was initially developed, professionals who wished to earn the
designation were required to learn both commercial and residential finance
disciplines before they could earn the CMB. At that time, most lenders had
commercial shops within their organization, so it was expected that
professionals could, and would learn both parts of the industry.
The
growth of the industry necessitated the division of companies to focus on
more specialized operations and many new companies appeared on the playing
field as a result. Now many successful professionals are experts within their
field and may never have the opportunity or need to learn the other side of
the business.
MBA has introduced a new Executive CMB program for
those individuals with industry experience but do not have the time to attend
the School of Mortgage Banking.
Ross G. Bennett, CMB-
Chair, Certified Mortgage Banker Committee, MBAF
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Members Only Online
https://app1.associationsonline.com/amos/mbaf/index.cfm
Click the link above. If you do not remember you password all you have to do is click the waving icon and it will be emailed to you immediately.
Need to call someone or send them an email, you can look them up online. What to see if John Smith is a member, can you look for them online, want to see our board members or committees, you can find them here too.
Members can search all other members
by individual names, company names, committees, board members, designations and
more. You can post your company profile. You may ask a question or post in the
Forum. You can register for conventions and conferences or the future leaders
program. You can pay your dues and the primary contact can update their
information. There are so many things available to you in the members area. We
would like to expand it's use and encourage you to participate.
Also as a reminder if
you have not paid your membership dues they are past due! You can pay
your dues online, via fax or mail.
Please contact Brenda at the state office if you have any questions at
[email protected] or 407-290-9404.
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Our New Members
Welcome!
Associate Member
ServiceLink, a division of Chicago Title Insurance Company
Pauldie Howrigan
Click Here to Email Pauldie
Mortgage Banking Members
Profico Mortgage Ventures, LLC
David Griggs
Click Here to Email David
Florida Commerce Credit Union
Jason Doerr
Click Here to Email Jason
Hayhurst Mortgage, Inc.
P.I. Hayhurst
Click Here to Email Patricia
Individual Members
Matthew Goldman
Click Here to Email Matthew
Pam Racz
Click Here to Email Pam
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MBA's Regulatory Compliance
Conference 2009
Washington, DC
by Claudine Claus
President, Home Financing Center
One thing is for sure, Strength
in Partnerships was shown at this year's MBA Regulatory Compliance
Conference. It was standing room only
with chairs and people squeezed in a much too small room. Evidently the MBA had not been prepared for
the turnout as lenders or their lawyers turned out to hear the latest about
regulatory reform. I was hoping that I
would attend this conference and come back less confused, but actually with all
the new acronyms, I left with my heading spinning. As if RESPA, TILA, ECOA,
FACTA, FCRA and HMDA weren't enough, I now wake up from nightmares
about SAFE, HOEPA, MDIA, UPDAP, HERA,
HVCC and the CFPA.
Of course, the biggest nightmare
for everyone at the conference was RESPA reform with the new GFE being the
star. The complaints from attendees were that the latest RESPA reform is too
complex and places too much responsibility on the lender for third party
charges that could be out of their control. Lenders worried that their company
will not be able to implement the new rules in time. Technology, training and even basic
understanding of the new rules were all challenges that lenders seemed to be
facing.
The good news is that presenters
offered well prepared presentations and were leading experts in their
field. Their power point screens helped
to simplify and clear up misunderstandings from all rules and regulations A to
Z. The audience was given reviews of
present laws, upcoming changes and even some that may be coming down the path. Strategies of implementing new disclosures
and required procedures were also provided.
A repeated issue of concern from
lenders was how the new rules could delay
closing dates for borrowers. One
presenter suggested that lenders provide borrowers with even more material to
read in order to explain how the new disclosures and rules could affect their
closing date, interest rate lock and so on in order to help manage their
expectations. Lenders were told to be
careful to not rely on third parties in the loan origination chain to explain the
changes to consumers. Warning was given
that third party vendors may not view your customer as their customer or they
may just be too busy preparing for the technical aspect of the changes to focus
on customer impacts.
To better manage third party issues,
it was suggested that for every compliance change, a company should thoroughly
analyze the new process flows to identify over-arching Third Party issues as soon as
possible. Doing this analysis
requires an understanding of the Third Parties' businesses and processes as
well as your own, so the recommendation was to meet with major third parties
early to learn their perspectives about changes in their requirements, systems
and culture (HVCC) and start early to
re-negotiate vendor fee contracts to address fee tolerances.
Licensing requirements were also
a hot topic. Many lenders were discussing the possibility of decreasing the
number of states in which they currently lend, focusing on their core states
only, out of fear that they will not be able to keep up with state regulations
on top of a new federal agency. Many
attendees stayed to lobby this issue on Capitol Hill, suggesting the government
not add another layer through the creation of the Consumer Financial Protection
Agency or requested that government have one uniform standard, but not both
federal and state requirements. Of course, servicing and Secondary were not
exempt from Regulatory Compliance Workshops and the round table discussions of
how to keep your company out of litigation were well attended.
Although
this was the first time I have attended this particular conference, I will
certainly make it an annual event. I
don't think we can worry too much about being compliant in today's market. Fortunately, if you didn't have the
opportunity to attend the MBA Regulatory Compliance Conference this year, you
can pick up most of the power point presentations for each workshop at
http://www.mortgagebankers.org/2009RegulatoryComplianceConference.htm
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Since
1952, the Mortgage Bankers Association of Florida (MBAF) has integrated the
state's diverse real estate finance industry into a unified service
organization. The MBAF is committed to promoting sound and ethical
business practices in the mortgage banking industry; providing a powerful and
responsible presence in Florida's legislative arena; educating its members in
the most up-to-date practices and methods, so members can grow and mature in
their careers; serving as a forum for communication and social interaction
among peers; and adapting to change in a mercurial business environment, in
order to help mortgage bankers succeed in that environment.
Not a Member? You can join today!
Click to Access Membership Application
Please contact Brenda Thomas at the state office with any questions at [email protected] or 407-290-9404
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