In this Issue
State News & Events
Legislative Update - George Klaetsch
Save the Date for Future WMBA Events
Chapter News & Events
Greeting WMBA members!
As I ponder the holiday season and see all the hustle and bustle of shopping and what not, it occurred to me that we, the mortgage industry, make that all possible. According to Maslow’s hierarchy of needs, one needs safety, which includes a roof over ones head prior to moving up the pyramid towards esteem and self-actualization. Without the security our industry provides for homeowners, none of the holiday excitement, fun and frivolity would exist. So…..On behalf of the citizens and businesses in United States of America, Thank you to the WMBA and the mortgage industry for making this season possible!
Please take some time to check out the WMBA website at wimba.org. You will find all the upcoming statewide and chapter events listed as well as links to all our social media services. Check out our newest channel on Instagram listed on the top right of our website. Feel free to post some fun or informative pictures or posts on any of our social media platforms.
I would like to take a moment to thank the Legislative Committee for taking the statewide lead along with the realtors association in helping craft legislation that works for all parties related to appraisal management companies doing business in the State of Wisconsin. More to come on this later as the final details are being worked out but suffice it to say Ken Dickson, Scott Fletcher, Jan Brezina, Steve Hansen, John Inzeo, Jerry Warmus and Julio Rios have hours and hours of their time invested in this important project. Thank you!
The Milwaukee Chapter is holding its annual holiday party on December 14th at Albanese’s this year. Please check it out and sign up to attend. It is always a good time to raise a glass with your industry peers and catch up on a great year!
The speaker lineup for the 43rd Annual WMBA Real Estate Finance Conference is coming together and it looks to be an incredibly informative and entertaining group. Save the date of April 6-7 in your calendar.
Take time to reflect on 2016 and its many lessons learned. Enjoy the holiday season with friends and family and all the best in 2017.
WMBA PAC & Conduit Contribution Recap
As mentioned in the October WMBA Brief Legislative Update, I wanted to share with all WMBA members the important election races the WMBA participated in and the WMBA members who were active in the WMBA PAC and Conduit.
The 2016 Election Cycle was one of the most unpredictable elections of our lifetime and as the primary focus was intense for the Presidential and Wisconsin’s U.S. Senate race, I was working diligently with select members of the WMBA in ensuring the mortgage lending industry’s political involvement programs were ensuring state legislative electoral success.
The following are 2016 Election Cycle races the Wisconsin Mortgage Bankers Association PAC and Conduit participated in and if that candidate or campaign committee was victorious on November 8.
I also want to recognize all of the WMBA members who contributed their personal financial resources to the WMBA PAC and Conduit during the 2016 Election Cycle while ensuring the Wisconsin Mortgage Bankers Association is stronger and better positioned in working with our state elected officials in Madison. Thank you to all of them!!!
If you would like to contribute to or learn more about the WMBA PAC and Conduit, please go to www.wimba.org/Political.Return to Top
MBA Offers Recommendations to FHA Condominium Programs
November 29, 2016
The Mortgage Bankers Association, in a letter yesterday to HUD, offered a series of recommendations to the department's proposed revisions to the FHA condominium programs.
The program enables FHA-approved lenders to extend insured mortgage financing to one-family units in multifamily projects as affordable options for first time- and low-to-moderate income homebuyers.
"MBA supports FHA's efforts to promote safe and sustainable financing for condominium loans and to increase the efficiency of current processes, such as the streamlining of private transfer fees and the expansion of the condominium project recertification period," wrote MBA Senior Vice President for Public Policy and Industry Relations Stephen O'Connor. "MBA supports the intent of FHA's proposed rule on condominiums to ensure financial soundness and project viability while maintaining flexibility to retain the ability to be responsive to the changing market."
MBA worked with a cross-section of diverse lenders to identify the following recommendations to further improve FHA's condominium program. "Enhancing this important program will encourage more lenders to participate in FHA condominium lending and will ensure direct benefits to first-time and low-to-moderate income homebuyers," O'Connor said.
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April 18-21, 2017 | Denver, Colorado
May 16-19, 2017 | Pewaukee, Wisconsin
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Day 1: Introduction to Mortgage Banking, Ethics, Regulatory Compliance, Mortgage Law
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