June 12, 2023 Edition

Newsletter Archive

MMLA Weekly e-Newsletter

CONNECTING THE BEST OF THE MICHIGAN MORTGAGE INDUSTRY

Lunch & Learn: Beyond the Guide: Navigating Fannie Mae’s Latest Updates

June 20 - FREE to members

Future Leaders Graduation Reception

July 12 @ Granite City Brewery, Northville

Join us as we celebrate and honor our Future Leaders Class of 2023!!

SE Chapter Economic Lunch @ Federal Reserve Bank of Chicago - Detroit Branch included tour of the facility!

Northern Michigan Luncheon - Estate & Guardianships

July 20 @ Traverse City Country Club

Plan your foursomes and sponsorships now for these great golf events!

MMLA "Up North Classic" Golf Outing

August 9 @ PohlCat, Mt. Pleasant. Registration now open!

Mid Chapter Golf Outing

August 24 @ College Fields, Okemos. Registration now open!

Starting today through Friday, June 16, the Mortgage Bankers Association (MBA) is hosting its eighth annual action week, a national, industry-wide campaign to grow its FREE grassroots advocacy network, the Mortgage Action Alliance (MAA). MAA is non-partisan and one of the most effective ways to participate in the political process.

The industry’s well-being and future are in our hands. To help strengthen our industry’s voice, [insert company/org name] joins over 80 companies nationwide to support this effort. I need you to help us enroll new MAA members. MAA unites all industry advocates and allows them to have an active role in shaping legislation and regulations, impacting our company, customers, and the broader economy.

To join this free grassroots advocacy network, click here or text “MAA” to 50457 to receive a signup link. Renewing or joining takes less than 30 seconds! MAA members receive many benefits with real-time news alerts impacting our industry, “Calls to Actions”, pre-drafted communications directly to their elected officials or federal regulators when immediate action is needed, monthly newsletters with legislative developments, and access to MAA quarterly webinars/townhalls.

Our legislators and regulators shaping policies impacting our industry must hear from you. You are the experts; your voices are needed to share the vital work we do. The larger the group, the louder the voice.

Register today to learn more! As part of the MAA Action Week campaign, register to join us on Thursday, June 15, from 2:00-3:00 PM ET for a “Legislative Update Townhall.” This MAA webinar will provide an overview of how MBA Advocacy is working for you, providing legislative updates, recent advocacy wins, and much more. Click here to register for this free virtual event. (Promo code: MAA2023)

The MMLA Annual Lending Conference is the most significant industry event of the year!! Soaring Eagle Casino & Resort in Mt. Pleasant, MI is the location, August 9 - 11, 2023 is the date. During these challenging times, it is a great time to get out and reconnect with your industry peers! Regarded as one of the best state mortgage association conferences in the country - you won't want to miss this one!

SPONSOR INFO - SPOTLIGHT YOUR COMPANY AT THE BIGGEST MMLA EVENT OF THE YEAR!

FULL EVENT AGENDA

NATIONALLY RECOGNIZED SPEAKERS

GOLF TOURNAMENT INFO

When planning our conference this year, we wanted to make sure that our location was centrally located for the majority of our attendees which is why we chose Mt. Pleasant, Michigan!

Check out this video to see the remodeled hotel rooms and book now for just $139 a night!

MMLA Affinity Program

The MMLA Membership Committee is expanding the member affinity program, to provide tangible discounts offered exclusively to MMLA members. Did you know MMLA members can get a significant savings from any Farm Bureau Insurance agent - simply tell them you are a MMLA member to save. We also currently offer a Workman's Comp insurance discount plan through the Michigan Bankers Association as well as a 30% discount on licensing and con-ed classes through mortgageeducation.com. AND THERE IS MORE COMING!!!

We would love to add your company to this list of Affinity Partners! If your company would like to be a partner and offer member discounts for your services, contact Joanne Misuraca for details.

House Lawmakers Reintroduce the Neighborhood Homes Investment Act This week, Reps. Mike Kelly (R-PA), Brian Higgins (D-NY), and Dan Kildee (D-MI) reintroduced, the Neighborhood Homes Investment Act (NHIA), a bill that would create a new federal tax credit to increase housing supply. This bipartisan legislation is the House companion to the Senate NHIA bill (S.657), which was introduced earlier this year. The bill’s text reflects MBA’s long-held advocacy priorities, including encouraging the rehabilitation of single-family homes and potentially attracting $100 billion in development activity to underserved rural and urban communities across the country.

Why it matters: The NHIA builds on the success of the Low-Income Housing and New Markets Tax Credits, which support affordable rental housing and economic development, respectively, but are not designed to build or rehabilitate owner-occupied homes. The bill would support the development of homes in rural communities struggling with the costs of new construction, as well as the rehabilitation of homes in blighted communities, where vacant homes depress property values and thwart broader revitalization efforts.
What’s next: MBA will continue discussions with House and Senate members to push for action on this and other potential tax legislation that helps to increase the supply of affordable housing.

For more information, please contact Alden Knowlton at (202) 557-2741 or Borden Hoskins at (202) 557-2712.

Federal Issues/Developments Highlights

MBA’s Eye on Washington Report is a weekly summary from the nation’s capital on the top issues in policy and advocacy affecting the real estate finance industry. To watch this week’s video as well the videos from previous weeks, click HERE.

· U.S. Default Avoided as President Biden Signs Debt Ceiling Bill

· FHA Proposes New Foreclosure Prevention Solution

· MBA Joins Broad Coalition Requesting Uniform ROV Process

· White House Announces PAVE Task Force Initiative Updates

· FHFA Director Thompson Testifies Before House Financial Services Committee

· House Financial Services Committee Passes the Middle Class Borrower Protection Act

· Senators Introduce Bill to Make Small Business Tax Parity Provision Permanent

· MBA Submits Recommendations on the VA Servicing Purchase Program

Read the full stories highlighted here.

The CFPB's Office of Older Americans has recently put together resource guides for seniors to better educate them on:

Using Home Equity for financial needs
Making housing decisions after health changes
Making housing decisions after losing a spouse or partner
Leaving a house to children or heirs

Please feel free to download or otherwise share these guides with your clients, borrowers or others you feel might benefit from this information. The guides can be downloaded here: www.consumerfinance.gov/consumer-tools/educator-tools/...

NAR Applauds White House Task Force for Changes to Address Appraisal Bias

National Association of Realtors® President Kenny Parcell issued the following statement today after the White House's Property Appraisal and Valuation Equity (PAVE) Task Force announced significant regulatory actions and changes to address appraisal bias: "Realtors® are dedicated to upholding fair housing laws in all aspects of real estate, including appraisals," said Kenny Parcell, President of the National Association of Realtors®. Read More

NMP Magazine - May

Scotsman Guide Residential Magazine

Gov. Whitmer Signs Legislation to Protect Michiganders on the Road LANSING, Mich – Governor Gretchen Whitmer joined state officials and anti-distracted driving leaders to sign three bills aimed at reducing distracted driving and saving lives by ensuring that drivers have their full attention on the road with the use of hands-free technology.

House Bill 4250 updates Michigan's distracted driving laws, which currently includes texting and driving, to also include watching or recording videos and engaging in social media, among other usages.

House Bill 4251 provides accountability for drivers who put themselves and others in danger by making related changes regarding commercial vehicles, driving record points, and driver improvement courses.

House Bill 4252 requires the Michigan State Police (MSP) to submit a progress report on the effectiveness of the new law 3.5 years after it takes effect.

Senate panel weighs bills prohibiting landlords from income-based discrimination

Michigan Advance

Erika Farley, who testified on behalf of the Rental Property Owners Association of Michigan, said that her organization and others were working ...