January 29, 2024 Edition

Newsletter Archive

MMLA Weekly e-Newsletter

CONNECTING THE BEST OF THE MICHIGAN MORTGAGE INDUSTRY

UPCOMING Events:

Northern MI Lunch & Learn - Feb 1 @ Silver Spruce Brewery, TC Join us as Holly Hack, Broker/Owner at Exit Realty Paramount, will discuss market trends in the five-county area and offer solutions to help get the deal across the finish line.

Mid Chapter/WCR Mixer - Feb 7 @ Midtown Brewery, Lansing. Don't miss out on a fun time to mix and mingle with LO's, Realtors and others in the housing industry.

West Michigan Volunteer Day

Feb 22 @ Home Repair Services. Spend the morning giving back to the community!

Member Monday Webinar Series - What's up MMLA?

Feb 26 via Zoom. Hear from MMLA CEO, Joanne Misuraca and President, Kate McDougall CMB, as they discuss what's new with the MMLA!

30 Minutes to WIN webinar - Feb 28 via Zoom. Get inspired at this interactive Lunch & Learn event!

West Chapter Breakfast meeting - March 21 @ Sunnybrook Country Club

Annual Sales Rally - March 6 @ MSU Management Education Center, Troy, MI REGISTRATION IS NOW OPEN! Great sponsorship opportunities as well.

SAVE THE DATE: Annual Lending Conference, August 14 - 16 @ Boyne Mountain Resort, Boyne Falls, MI

Calling all Loan Officers, Brokers, Realtors and Sales Professionals! You NEED to attend our March 6th Annual Sales Rally to hear from an amazing line-up of speakers who will give you new ways not only meet your goals but exceed them! This is a must-see event, don't just hear about it, be there to experience it!

Headline Sponsor

We are happy to announce the keynote speaker at this event is none other than Glenn Stearns! Kind Lending Founder and CEO, Glenn Stearns. Through grit and determination, he rose to become an industry leader in the mortgage world growing his namesake company to be the #1 mortgage lending company. He starred in the Discovery Channel’s reality TV show Undercover Billionaire following his 90-day journey to anonymously build a $1 million company equipped with $100, a pick-up truck, and a cellphone. The show lit a fire under him to start a new mortgage company – and Kind Lending was born.

View our full list of amazing speaker here

Sponsorship and exhibitor options are available. Spotlight your company at this highly attended event.

The MMLA Future Leaders Program is an exclusive opportunity that enables participants to build their knowledge of the mortgage industry and leadership skills through on-line learning, collaboration, and peer group interactions. Class participants can be any industry professional who wants to grow their business and expand their knowledge of the industry. To enhance the learning and networking experience, participants will be selected on a limited basis, so submit your application by April 1.

Click here for all the details and to apply today!

Introducing the MMLA's "Member Monday" Webinar Series

We have developed a series of webinars that will be presented FREE exclusively for MMLA members. in this series you will learn more about MMLA to get the full benefits of your membership. You will also hear from industry experts to share their knowledge with you. Here is the preliminary line-up:

Feb 16 - What's Up MMLA?

Mar 11 - Economic Update w/ Joel Kan, MBA's Deputy Chief Economist

Mar 25 - NAC Update - Recap of issues discussed in DC

Apr 8 - State Legislative Update w/Tabitha Zimny, MMLA Lobbyist @ Karoub Associates

Apr 22 - What's Up MMLA, Part 2

May 20 - Who's Ready for Summer?

Go to MMLA events calendar for all the info and to register.

Do you have any topic ideas you would like MMLA to cover? Send your ideas to joanne@mmla.net

Broeksmit Discusses Recent Wins, Current Challenges

The Light at the End of the Tunnel

Celebration of the Life of Dave Stevens to Be Held Feb. 2

Tell your elected officials to support H.R. 7024, the Tax Relief for American Families and Workers Act of 2024. Please click the Take Action button below to contact your Representative and your two Senators. H.R. 7024 restores a LIHTC ceiling increase from 9 percent to 12.5 percent for calendar years 2023 through 2025, thereby allowing states to allocate more credits for affordable housing projects, and temporarily lowers the Private Activity Bond (PAB) threshold test from 50 percent to 30 percent for 4 Percent LIHTC property projects with an issue date before 2026. The changes, if enacted, are estimated to help produce an additional 200,000 rental units nationwide over the next two years.

Federal Issues/Developments Highlights

· MBA Submits Comments on Basel III Endgame Proposal; Urges for Key Changes to Mortgage Provisions

· Congress Votes to Extend Funding for the Federal Government

· House Ways and Means Committee Introduces and Holds Mark-up on Tax Extender Package

· Ginnie Mae Explores New HECM Mortgage-Backed Security Product

· HUD Secretary Fudge Testifies at Contentious House Oversight Hearing

· House Financial Services Subcommittee Holds Hearing on FSOC SIFI Framework

Read the full stories highlighted here

Contract Activity Suggests Uptick in Spring Home Sales

Commissions Alert: Pop Your Profits And Don't Leave A Penny On The Table

The U.S. economy grew at a 3.3% pace in the fourth quarter, much better than expected

Americans Are Rethinking Refinancing Their Homes

ICE ‘First Look’ for December: Foreclosure Starts at 18-Month Low

Why New Home Sales Soared and Existing Homes Plunged in 2023

The Election Year is Upon Us - Be Prepared for Workplace Political Discussions…or Worse

NMP Magazine - January

Mortgage Banker Magazine

Gov. Whitmer, Rep. Andrews Announce MSHDA Home Repair Program Open to Southwest Michigan Residents Governor Gretchen Whitmer, State Rep. Joey Andrews and the Michigan State Housing Development Authority (MSHDA) announced a $300,000 grant to the Berrien County Land Bank for energy-efficiency home repairs and upgrades to eligible homeowners. This award aligns with the governor’s new MI Healthy Climate Plan recommendation to upgrade homes to help lower energy costs, as well as with the Southwest Housing Partnership’s goal of increasing funding in the region by 10% for rehabilitation and preservation of existing housing stock. Visit MSHDA’s website for a list of contacts in your area and more program details.

The Department of Insurance and Financial Services has issued a new Director’s Order: Neighborhoods Inc. of Battle Creek 23-17549

Order to Cease and Desist with Statement of Findings and Notice of Opportunity for Hearing

Date: 01-22-2024 For a listing of all Director’s Orders visit https://www.michigan.gov/difs/legal/hearings-decisions/directors-orders.