January 22, 2024 Edition

Newsletter Archive

MMLA Weekly e-Newsletter

CONNECTING THE BEST OF THE MICHIGAN MORTGAGE INDUSTRY

LET'S GO LIONS!!!

UPCOMING Events:

West Chapter Economic Breakfast - Jan 25 @ Thousand Oaks GC Last day to register!

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.

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

Annual Sales Rally - March 6 @ MSU Management Education Center, Troy, MI REGISTRATION IS NOW OPEN! Calling all Loan Officers, Brokers, Realtors and Sales Professionals! You NEED to attend our March 6th Annual Sales Rally! This is a must-see event, don't just hear about it, be there to experience it! Spotlight your company as a sponsor/exhibitor at this event. We expect 200+ attendees this year!

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

The Mortgage Industry Mourns the Death of

David Stevens, CMB

The Mortgage Bankers Association (MBA) announced the unexpected passing of former President and CEO David H. Stevens, CMB on Jan 16th.

Stevens served as MBA’s President & CEO from 2011 until 2018, following a career in real estate and mortgage finance that started at World Savings and included leadership roles at Freddie Mac, Wells Fargo, and Long & Foster. Immediately before joining MBA, Stevens served as Assistant Secretary of Housing – Federal Housing Commissioner at the U.S. Department of Housing and Urban Development under President Obama. After he retired from MBA, Stevens was Chief Executive Officer of Mountain Lake Consulting, a financial services consulting firm focused on the real estate finance sector, and served on the board of Dynex Capital.

Dave was a good friend to the MMLA. A frequent speaker at our conferences and ally for us in DC. As he once told MMLA CEO, Joanne Misuraca, if the MMLA ever held another conference on Mackinac Island, he would definitely be there - remembering his college summers spent working on the island.

Dave was a legend, leader, and tireless advocate for the mortgage industry and will be missed terribly by all who knew him. RIP Dave Stevens, CMB!

Is a MMLA Corporate Partnership right for your company?

Our Corporate Partnership Program allows non-lending companies to forge connections with local mortgage professionals and support the advancement of Michigan mortgage professionals and the local real estate community at large.

There are five different package levels which offers a slightly different combination of items, including: advertising, education, membership and event sponsorships.

As a Corporate Partner, your contributions go directly to delivering the resources, legislative voice and education MMLA provides to effectively support our local real estate community.

If you have 4 or more employees currently as MMLA members, you can benefit by this program.

LEARN ABOUT CORPORATE PARTNERSHIPS

MEET OUR CORPORATE PARTNERS

MBA Leads Industry Groups in Submitting Comments Related to Basel III Proposed Rulemaking

MBA Chart of the Week: Expectations for the CRE Borrowing/Lending Market

Call for Nominations: MBA NewsLink 2024 Tech All-Star Awards

MBA: December New Home Purchase Mortgage Applications Increased 22.2%

MBA Statement in Support of H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024”

HUD Secretary Fudge Willing to Examine Dropping Life-of-Loan FHA Coverage

Nearly 9 in 10 U.S. Homeowners Have Mortgage Rate Below 6%: Report

Trigger Leads–How Borrowers Can Opt Out

CFPB Proposes Rule to Close Bank Overdraft Loophole that Costs Americans Billions Each Year in Junk Fees

Move Over, Millennials: Gen Zers are Coming for Boomers’ Houses

2023 HMDA Data Filing Period is Open

Highest Mortgage Rates in More Than a Month, But There Are Silver Linings

So far, 2024 has been distinctly different from the end of 2023. November and December saw rates move lower at one of the fastest paces in decades. In contrast, January has delivered a fairly consistent uptrend with the average lender now at the high... (read more)

Predictions Indicate Mortgage Rates Below 6% and a 19% Increase In Single-Family Purchase Origination Volumes

NMP Magazine - January

Mortgage Banker Magazine

Michigan Department of Insurance and Financial Services Earns Accreditation from Conference of State Bank Supervisors The Michigan Department of Insurance and Financial Services (DIFS) is proud to announce that the Conference of State Bank Supervisors (CSBS) has granted reaccreditation to the Department’s Banking regulatory program and first-time accreditation for both its Mortgage and Money Transmission Services regulatory programs. Michigan’s Banking program was one of the first in the nation to be accredited and has been continuously accredited since 1986. Michigan is the 8th state to obtain accreditation for both Mortgage and Money Transmission Services regulatory programs.

The Department of Insurance and Financial Services has issued a new Bulletin: Bulletin 2024-05-CF CPI-Adjusted Regulatory Loan Act Loan Processing Fee (supersedes Bulletin 2022-02-CF)

For a listing of all Bulletins visit https://www.michigan.gov/difs/legal/bulletins

Gov. Whitmer Announces Winner of 2024 State of the State Art Contest