In this Issue

October 2016 Edition

  Presidents Message

State News & Events

Legislative Update - George Klaetsch

MBA Statement on PHH Ruling

Housing the Future Seminar

Wisconsin Security Instrument

WMBA Best in Business Awards

Save the Date for Future WMBA Events

Chapter News & Events
Presidents Message
I am writing this on message the weekend before our 2nd Annual Best in Business Awards ceremony. This event is sure to be a rousing success and I hope you took the opportunity to attend. This event is an exclamation point at the following a great year for our industry.  Congratulations to all nominees and finalists. Take this opportunity to make a mental note to remember to nominate the best in our business for our 3rd annual event next year.
We are beginning to add content to our webpage and social media sites.  You will now see Industry News Feeds scrolling on the right side of the page of our home page. The WMBA webpage is a great place to check in on the daily industry news and find out the latest happenings among the chapters. Our social media outlets are beginning to buzz too. You can get a link to our Facebook, LinkedIn and Twitter sites from the upper right of our homepage. I encourage to connect with us on each of these as we are about to add more features through this channel.
More than 200 letters went out this week to prospective financial institutions encouraging them to join the WMBA. If you know key people at peer shops in your area, please talk up the benefits of our great organization. The more people we have involved, the louder our political voice and the better our resources can be for our members.
Work has begun on our speaker lineup for the 43rd Annual Real Estate Conference held on April 6-7, 2017 at the Potawatomi Hotel in Milwaukee. Please let me or anyone on the board know if you would like to hear from any particular speaker or topic. This is your conference and we want to make sure it is relevant and interesting to our attendees.
I hope you have a wonderful and successful fall season! 

Legislative Update - George Klaetsch

WMBA Political Action Committee (PAC) & WMBA Conduit Increase Political Presence

I usually reserve my autumn legislative updates for election-related articles, candidate updates and get-out-the-vote messages. And this update is no different (with a slight twist).
Instead of kicking this Legislative Update with strongly worded messages like; “This is the most important election of our lifetime!” I wanted to simply convey two things:
Congratulations & Thank You!!
First, Congratulations! As I shared with you this past year; The WMBA PAC and Conduit serve as the Wisconsin Mortgage Bankers Association’s political involvement programs. The WMBA PAC and Conduit allows WMBA members to personally participate in the Wisconsin electoral process through direct and PAC Board approved contributions to political candidates and state legislators running for re-election.
During the 2016 election cycle over 50 WMBA members took their membership to an entirely new level by contributing their personal funds to the WMBA PAC, WMBA Conduit and in some cases, both! The result was a political giving total of almost $8,000 in PAC and Conduit receipts. This was a new milestone never achieved during a previous Election Cycle.
Second, Thank You! I wanted to utilize this article to thank the 54 WMBA members that contributed to the WMBA PAC and/or Conduit. As the WMBA continues to build its political brand, and continue to build strong and meaningful relationships with our state legislature, it is important to recognize those who have the understanding and institutional knowledge of the importance of this endeavor. The WMBA has definitely taken a huge step this Election Cycle
In the next legislative update, I will be sharing the specific activity of the WMBA PAC and Conduit contributions. This will provide our membership with a better understanding of the candidate/legislative recipients of WMBA political resources. I will also be recognizing all of the PAC and Conduit participants for their continued efforts in making the Wisconsin Mortgage Bankers Association stronger and better positioned in working with our state elected officials in Madison.
If you have questions or would like to contribute to the WMBA PAC, click here or email
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MBA Statement on PHH Ruling

WASHINGTON, D.C. (October 11, 2016) - David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), issued the following statement on the appellate court ruling which overturns the CFPB's $109 million fine against mortgage company PHH Corp:

"MBA is gratified that the court has issued an extremely thoughtful opinion.  It addresses all of the key issues raised by the PHH case, including the proper interpretation of the Real Estate Settlement Procedures Act (RESPA), the need for due process including reasonable statutes of limitations and the very constitutionality of the CFPB itself. 

"All that said, we recognize that the CFPB does important work to protect consumers and that this case is far from settled and expect the Government to continue to litigate it.  We will continue to fight on behalf of our members, particularly on the RESPA and due process issues, as they go to the heart of a core argument that MBA has been making for several years now - that lenders need clear, consistent and reasonable interpretations of the rules in order to be able to best serve their borrowers and contribute to a smoothly functioning real estate market." 

Cilck here to read the decision. 

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WMBA Members Spoke at Recent Housing the Future Seminar

Recently, past and current state board members Geoffrey Cooper of MGIC, Nick Deltorto of Inlanta, and Mike Kellman of North Shore Bank spoke at the 2016 Wisconsin Real Estate & Economic Outlook Conference in Madison.

The group presented their session, titled Transformations in Housing Finance:  What’s on the Horizon? to over 150 attendees.

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Wisconsin Security Instrument

Fannie Mae and Freddie Mac have revised the Wisconsin mortgage (Form 3050) to reflect recent changes to state law that shorten the redemption period in foreclosure actions. The revised Form 3050 (with a revision date of 6/16) is available on the Single-Family Security Instruments page on the Fannie Mae website.

Effective Date
Lenders are encouraged to use the updated document immediately, but must do so for mortgage loans with note dates on or after January 1, 2017.

2nd Annual Best in Business Awards

The 2nd Annual Best in Business Awards was held October 27 at The Madison Concourse Hotel & Governor's Club in Madison. Over 200 members and guests were registered for the event to recognize and celebrate the best in Wisconsin's mortgage banking industry. 

Congratulations to the award reciptients!

Thank you to the Committee for their work in planning the event, awards nominations and selection and presenting at the event.

Joe Doyle, Chair
Jean Daul
Joni Grandt
Rob Helvey
John Inzeo
Michael Kellman
Aaron Meyer
June Potter
David Taylor
United Guaranty
Knight Barry Title
Wisconsin Mortgage Corporation
Waukesha State Bank
Wisconsin Mortgage Corporation
North Shore Bank
Settlers bank
Knight Barry Title
Wisconsin Title Service Company


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Upcoming State Events:

Save the Date!

43rd Annual WMBA Real Estate Finance Conference

April 6-7, 2017
Potawatomi Hotel, Milwaukee

44th Annual WMBA Real Estate Finance Conference

April 16-17, 2018
Hyatt Regency Hotel, Milwaukee

Return to TopChapter News & Events

Madison Chapter



Annual Holiday Party

Save the date!

Decemeber 14, 2016
5:30-9:00 pm
Albanese's Roadhouse - NEW LOCATION!
2301 W Bluemound Rd.





MBA Update

WMBA Members Recognized at MBA Conference

WMBA member Jeff Long of Federal Home Loan Bank of Chicago receives CMB designation.

MBA Education, the award-winning education division of the Mortgage Bankers Association (MBA), recognized 30 individuals who earned the Certified Mortgage Banker (CMB) designation at a ceremony held at MBA's 103rd Annual Convention & Expo in Boston, MA. Earning one's CMB is the highest professional honor within the real estate finance industry. 

The 30 CMBs who received their designations this past calendar year will join a group of more than 1,200 industry professionals who have proven their commitment to excellence within the mortgage banking industry.

Read the full press release.

WMBA past president Nicholas DelTorto of Inlanta Mortgage to serve on MBA Residental Board of Governors.

RESBOG is the governing body for MBA's single-family residential members, responsible for establishing legislative and regulatory policies and positions on residential lending issues. Richard Bennion, HomeStreet Bank will serve as 2017 RESBOG Chairman. MBA also announced the Residential Committee Chairs serving on RESBOG. WMBA past president Nicholas DelTorto of Inlanta Mortgage represents the Residential Loan Production Committee and serves Voting RESBOG Member.

Read the full press release.



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