In this Issue
State News & Events
Chapter News & Events
On Thursday, October 19th the WMBA held its 3rd Annual Best in Business Awards Event. We had 215 well-dressed attendees with us to celebrate the evening.
18 different individuals received awards in a grand ceremony in front of their peers.
Here’s a recap of this year’s winners
We also announced the date for the 44th WMBA Annual Real Estate Conference. The conference will kick off on the evening of Monday, April 16th with the host of speakers and presenters set for Tuesday, April 17th.
The event will take place at the Hyatt Hotel in Downtown Milwaukee.
Thank you for your membership!
WMBA President 2017-2018
Legislative Update - George KlaetschWMBA Legislative Focus – Foreclosed Property Sales & Appraisal Management Companies
The state legislature has been working at a frenetic pace the past couple of months with multiple legislative committee hearings and executive sessions happening daily. The WMBA staff and legislative committee have been working together to keep pace and ensure that the sheer volume of legislation moving through the process compliments and improves the financial lending industry and does not impede it.
Over the past month, the WMBA has been focused on two primary pieces of legislation –
The efforts related to AB 253/SB 175 were to correct an unintended error related to sheriff sales of foreclosed properties. The primary revision was to delete “judgement amount” and replace with “sum due to the creditor” to ensure financial lenders were only paying the purchase price and not the judgment amount.
On October 5, the Senate Committee on Economic Development and Commerce passed our amendment and the bill as amended on 7-0 votes.
For the past 16 months the WMBA has been working with industry partners and stakeholders on Appraisal Management Company (AMC) legislation - AB 533/SB 453. This effort was a result of the federal Consumer Financial Protection Bureau (CFPB) and five other federal agencies (collectively, the Agencies) jointly adopted a final rule to implement the minimum requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to be applied by participating States in the registration and supervision of appraisal management companies (AMCs).
The primary components of the AMC legislation address:
Both AB 533 and SB 453 were introduced, received a public hearing and were passed out of both the respective Assembly and Senate Committees.
As of this writing, the companion bills were expected to be scheduled on the Assembly and Senate floors during the November 1-9 floor period.
A special thanks to WMBA Legislative Committee Co-Chair, Ken Dickson for providing testimony on behalf of WMBA before the joint committee members.
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Photos from the evening are now available - click here.
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Link: Identity Theft Protection Following the Equifax Data Breach
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Ask the Realtor - Panel Event
November 9, 2017
4:00 Cash Bar
Registration deadline November 2, 2017
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November Monthly Social
November 8, 2017
Registration deadline November 7, 2017
Annual Holiday Party
December 14, 2017
Dominic's Sports Bar
Cost: $25 members, $35 non-members
Registration deadline December 4, 2017
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"This year the Foundation is honoring a pair of companies- Arch MI and the CMG Foundation- whose collective efforts span multiple years and set high standards for active, innovative support of the Opens Doors mission," said Debra W. Still, CMB, President and CEO of Pulte Mortgage and Chairman of the Foundation's Board of Directors. "Both have shown exceptional leadership and worked hard to advance ODF's mission and long-term and sustained growth."
Still continued, "Chris George and the CMG Foundation have stepped up as real champions of MBA Opens Doors for several years. Chris continues to raise awareness of our mission and of the impact we make on the lives of families with injured or critically ill children.
"Arch MI and Andrew Rippert, CEO of Global Mortgage at Arch Capital Group, have been great champions of our shared mission ever since they were recognized as the first MBA Opens Doors Foundation Guardians in 2015, for what remains the largest multiyear gift in our history. Also, Andrew has also taken a personal leadership role in the Foundation, and continues to advance strategies that will ensure long-term, sustained financial resources to support our mission."
MBA Opens Doors is currently able to pass on 100 percent of the donations it receives to families in need of assistance. Potential recipients of the grants are identified through the Foundation's ongoing relationship with children's hospitals in Washington D.C., Boston, MA, Dallas-Fort Worth, TX, Denver, Co, Houston, TX, Northern and Southern California, and now Akron, OH.
MBA Opens Doors is a 501(c)(3) organization, and all contributions are tax deductible. For more information about the Foundation or to make a donation, please go to www.mbaopensdoors.org.
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Stevens joined MBA in May 2011. His leadership has restored MBA to its strongest financial health in its 104-year history. The association was rebranded under his direction and membership growth has surpassed expectations consistently year over year.
Additionally, Stevens has guided the association's regulatory and legislative priorities with a unique talent for synthesizing issues and articulating industry impacts which has elevated MBA's voice and influence inside the beltway. In 2011, Stevens was instrumental in creating the MBA Opens Doors Foundation which helps families with critically ill children. Stevens was diagnosed with cancer in 2016.
"With my cancer in remission, focusing on family, friends and staying healthy is my priority," said David Stevens. "This was a difficult decision; it's hard to walk away from supporting an industry that shaped my career. It's been an honor to work with the talented staff, strong leadership and diverse membership of the MBA."
"We all support Dave in his decision," said David Motley, 2018 MBA Chairman. "MBA has never been stronger and is well positioned to manage this transition. Dave has given his heart and soul to MBA for nearly seven years and on behalf of the entire membership, we are incredibly grateful for his leadership."
The search committee is being chaired by MBA immediate past Chairman, Rodrigo Lopez, and is comprised of 12 volunteer MBA members. The nationwide search for Stevens' replacement commences immediately.
Wisconsin Mortgage Bankers Association Online StoreThe WMBA and the MBA have teamed up to bring you great access to the education components you need to stay current in the Mortgage Banking Business.
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