August 28, 2023 Edition

Newsletter Archive

MMLA Weekly e-Newsletter

CONNECTING THE BEST OF THE MICHIGAN MORTGAGE INDUSTRY

MORBANPAC Fundraiser

August 29 at a private residence in Chesterfield Township.

Mid Chapter Sales Coaching Breakfast

September 6 @ One North, Lansing

Northern MI 1-Year Celebration Sept 7 @ Silver Spruce Brewery, TC

West Chapter Wind Down Summer in Saugatuck - September 14 @ The BARrge

SE Chapter/WIN Social Event - September 20 @ Granite City Brewery, Troy

Lunch & Learn Webinar Series - Dual Employement - October 24 via Zoom

MidChapter Holiday Party - Nov 30 @ The Graduate Hotel, East Lansing Watch for info coming soon

West Chapter Holiday Party "Bootlegger's Ball" Nov 30 @ City Flats, GR Sponsorship now open!

Upcoming events next week!!

Are you...Willing to experiment with new ideas? Up for some courageous feedback?

Ready to step into unfamiliar territories that may be uncomfortable? Serious about developing your leadership skills? Longing to create a dream that you haven’t told anyone in years?

If you answered yes to one or more of these questions, you should attend this luncheon and hear from Roberta Cocco, Executive Coach. Coaching is designed to maximize strengths, break through challenges, and transform reality. Learn how you can create new systems and awareness that allow you to navigate disruption and rapid change with energy and confidence. REGISTER NOW!!

The MMLA is growing and is celebrating the 1 year anniversary of the start of it’s Northern Michigan Chapter! The group has a devoted committee engaged in planning monthly events covering timely topics! Thanks to everyone who has participated so far, and we welcome those who want to learn more about the group and the MMLA. We hope to see you at this fun event! REGISTER NOW!!

The MMLA welcomes these new members:

Rachel Bogart, Independent Bank

Tracy Bracewell, Michigan First Mortgage

James Brayton, Michigan First Mortgage

Tonya Coon, MSHDA

Jay Eakins, Union Home Mortgage Company

Brett Granger, Michigan First Mortgage

Amanda Griffes, USDA/RD/SFH/DA/GLD

Dawn Hooper, Prosper Insurance

Lucas Igo, DFCU Financial

Marlo Morgan, LMCU

Kimberly Morycz, Michigan First Mortgage

Steve Owens, Consumers Credit Union

Jennifer Peters, Truist Bank

Taran Roberson, Michigan First Mortgage

Deborah Schultz, Goosehead Insurance

Jeremy Schultz, Goosehead Insurance

Samantha Shelton, Align Lending

Joi Spencer, Michigan First Mortgage

Bridget Trevino, Rapidio

Christian Weghorst, KensieMae

Don't forget that MMLA members can access other members' contact info through the MMLA website...just log in to the "Member Corner"

MMLA Members Meet with DIFS and Governor's office

On Monday August 21^st, members from the MMLA were invited to meet with DIFS and the governor's office to give an overview of the current state of mortgage lending in Michigan. Dan Grzywacz, CMB and Chairman of the DIFS Mortgage Industry Advisory Board (MIAB), Allison Johnston, CMB and President of Success Mortgage Partners and past Chairman of the MIAB, and Tim Kleyla, Broker and President of the Mortgage House Inc. along with Jim Westrin, Director, Office of Consumer Finance with DIFS. They spent about 40 minutes with the governor’s Chief of staff and other personnel updating

them on the current over look at the Michigan mortgage industry and its successes and challenges.

The industry experts talked about the challenges we face with limited inventory, higher interest rates, inflation, and home affordability. The group also spoke to the positives: Michigan has a 71.8 home ownership rate, homeowners are seeing record equity. There is still a healthy appetite for home ownership. Additionally, Tim spoke on affordability and tightening guidelines. Tim also mentioned the importance of allowing brokers to do MSHDA loans. Allison laid out current programs available and Dan spoke about the benefits of MSHDA along with some needed changes to this program including the need for an increased sales price limits. The group felt the governor’s office showed great interested in the comments provided. The Governor’s office asked very good questions, showing this was an area of good interest to them. Dan, Allison, Tim and Jim were very pleased to participate and continue to give feedback to the Governor’s office. THANK YOU!

This Week’s Top Legislative and Policy News

MBA Responds to Interagency Proposed Rule on AVM Quality Control Standards
MBA Files Amicus Brief in the Townstone Case
Get Involved – MBA Advocacy Month Kicks Off in September
Upcoming and Recent MBA Education Webinars on Critical Industry Issues

Read the online version.

New Home Sales Benefit from Inventory Issues Sales of newly constructed homes appear to be benefitting from the very lack of inventory that is stifling existing home sales. July’s sales of pre-owned homes lagged sales a year earlier by more than 16 percent while Wednesday’s report on new... (read more)

Home sales fall again in July, as supply drops to near quarter-century low

Powell unsure of the need to tighten further

Single-Family Home Size Moves Lower to More than a Decade Low