In this Issue

Presidents Message
 
 

November 2015 Edition


State News & Events

2016 Real Estate and Finance Conference

Thank you for your Membership!

 
 
Presidents Message
I want to take this opportunity to wish all of our members a Very Happy Holiday Season. No matter how we celebrate, one thing is constant, we are lucky to be surrounded by family and friends. I know many of you are involved in a variety of activities to assist folks who are in need during this time of year. Whether it's gifts for children, food on the table or other kinds of support, I applaud all of your efforts for the greater good of our communities.
 
As we prepare to close out 2015, we look forward to continuing our progress into 2016. I want to thank all of our members who give so much of their time to make the WMBA a great organization. We urge all of our members to get engaged with your local Chapters. Being an active industry professional is a tremendous career enhancement for all of us.
 
Lastly, I want to wish you all a Happy and Healthy 2016. As we turn the page on another year, I'm thankful for all the wonderful people I've been fortunate to be associated with.
 
Remember.....The Journey Is The Reward.

2016 Real Estate and Finance Conference

Fratantoni to Provide Economic Update at WMBA Real Estate and Finance Conference

Mike Fratantoni, Chief Economist and Senior Vice President, Research and Industry Technology for the Mortgage Bankers Association (MBA) will speak at the April 2016 WMBA Real Estate and Finance Conference. Mr. Fratantoni brings over 20 years of industry experience to his current role, including risk management and senior economist positions at Washington Mutual and Fannie Mae. Mark your calendar and watch for registration to open in early 2016!
 

Thank you for your Membership!


Promote your membership in WMBA with our NEW member logos! Visit http://wimba.org/MemberLogoDownload to download the option or options that best fit your needs.
  • Print a copy for your office or for your company to post for your clients to see.
  • Download the web version to post on your company’s website.
  • Show your pride with the email signature logo. 
If you have any questions, please contact the WMBA office at info@wimba.org.

Chapter News & Events

Madison

 

2015 Madison Chapter Annual Holiday Party & Distinguished Service Award Winner

December 17, 2015
Laredo's
2935 S Fish Hatchery Road
Fitchburg, WI 53711
 

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Milwaukee

 

2015 Milwaukee Chapter Holiday Party

December 8, 2015
Bluemound Country Club
10122 W North Ave.
Wauwatosa, WI

 


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Northeast



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MBA Update

UPDATE: Final Highway Bill Contains NO G-Fee Increase

The federal Highway Bill conference report, which reflects the result of negotiations between the House and Senate and will be the final version of the bill considered by Congress and sent to the President's desk, DOES NOT contain a provision to pay for a portion of the new transportation spending through an increase in the fees charged by Fannie Mae and Freddie Mac to guarantee a loan (g-fees).

THANK YOU for raising the temperature on this critical issue. Mortgage Action Alliance support was the difference here, plain and simple. We need to continue strengthening MAA, to ensure the industry's voice continues to be heard in all forums. Please keep up the hard work!
 
Best,
Scott  Nowak

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MBA Risk Share Letter to FHFA

Earlier today, MBA sent a letter to FHFA director Mel Watt, requesting a meeting to discuss our concerns with the types of credit risk transfers that Fannie Mae and Freddie Mac are engaging in today in the single family market. Much of the letter is designed to answer the primary concerns that the GSEs and others have raised with regard to up-front risk share transactions.
As the letter states, we believe an effective risk share model must include four essential elements:
  1. FHFA should explore many forms of up-front risk sharing.
  2. The risk share model must ultimately ensure up-front risk is distributed throughout the private sector with large numbers of competitors, with the GSEs serving as a catastrophic backstop.
  3. Transactions should be accessible to institutions of all sizes, whether they are banks or not. The GSEs should not be involved between lender and credit enhancement, as is the case today.
  4. Finally, the transactions should be transparent, allowing lenders to find the lowest price available to consumers through competing companies with multiple offerings. 
The letter sent today focuses on mortgage insurance (MI) as that is where MBA has heard the majority of concerns expressed. To read the letter, click here

As always, please reach out with any questions.

Best regards,
 
David
 H. Stevens
David H. Stevens
President and Chief Executive Officer
Mortgage Bankers Association
Read my industry blog: Capital View

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For every product purchased through the WIMBA-MBA store the WMBA receives a % back.  

Please use the link below to help support our Association!

Wisconsin Mortgage Bankers Online Store

Remember to check back often!

Chapter News & Events

2015 Madison Chapter Annual Holiday Party & Distinguished Service Award Winner

2015 Milwaukee Chapter Holiday Party


 

MBA Update

UPDATE: Final Highway Bill Contains NO G-Fee Increase

MBA Risk Share Letter to FHFA

WMBA Online Store