39th Annual Convention success!  

What more can we say than WOW! The IBANYS 39th Annual Convention was quite the event, and from the early feedback we have received, all the 200+ attendees had a great time! From fine food to fabulous speakers, great vendors, and the wonder of a world class resort in the middle of New York State, we couldn't be happier with this year's convention. We would like to take this moment to thank those who attended, those who spoke, and those who exhibited. But our greatest thanks goes to those who helped make it all happen, our fabulous sponsors! Below is a list of those companies who made sure 2012 was our greatest convention to date!

Federal Home Loan Bank of New York

KPMG

ICBA 

PNC

FTN Financial

LCS 

Bankers' Bank Northeast

M&T Bank

NBT  

Pentengra Retirement Solutions

Atlantic Central Bankers Bank

Roosevelt & Cross, Inc.

This is sadly my last newsletter as Director of Communications, Marketing and Development at IBANYS. For those of you that do not know, I have accepted another position at WRGB-TV in Schenectady, NY. It is with regret that I type this, as the hospitality I have found with the IBANYS staff and members alike is something truly special. My time with the association has been a learning and growing experience that I will take with me when I go.

                I appreciate the opportunity to serve some of the best people in New York State. I know the job and purpose of the Independent Bankers Association is an important one, and being a part of that mission was an honor. I hope IBANYS will continue to grow to new heights for many years to come.  

                Again, thank you for the tremendous opportunity to serve the community bankers of this great state. Please feel free to find me on LinkedIn so we can stay in touch! I will miss you all! 

Edward J. DeMarco, the overseer of taxpayer-supported Fannie Mae (FNMA) and Freddie Mac, said the firms need to increase the fees they charge to guarantee mortgages in states where it's costlier for them to deal with bad debt.

That doesn't bode well for New York, which is among states that extend added protections for borrowers in danger of losing their homes.

It takes an average of 56.3 months, or almost five years, from a missed payment to the liquidation of a mortgaged property in New York, according to JPMorgan Chase & Co. That's about three years longer than in Arizona, where judicial reviews aren't needed for foreclosures and court-supervised workout negotiations aren't mandated. The extra costs could be offset with upfront charges of 0.1 percentage point to 0.2 percentage point of loan amounts, the bank's analysts estimate.

"From a private investor standpoint, it makes complete sense to us" to vary fees by region, said Bryan Whalen, co-head of mortgage bonds at Los Angeles-based TCW Group Inc., which oversees about $130 billion.

Florida, New Jersey and Vermont also could face increased loan rates once lenders start passing on the new fees being considered at Fannie Mae and Freddie Mac, which are meant to compensate for state and local policies that increase losses on defaulted loans. Court-supervised foreclosures add legal expenses, and longer timelines bring more property taxes, insurance and potential maintenance costs...

                     ...read the rest here!