May 15, 2024

The Weekly Newsletter for the

Rhode Island Mortgage Bankers Assoc.

2024 PLATINUM ANNUAL PARTNERS

2024 GOLD ANNUAL PARTNERS

UPCOMING EVENTS

Golf Outing in Memory of Past President,

Patricia Slepkow

June 11

SPONSORSHIP OPPORTUNITIES AVAILABLE - see our current list

Tournament Sponsor

Slepkow Slepkow & Assoc.

June 13, 2024

RIMBA's Education Committee is working in conjunction with the RI Association of Realtors to hold an informative Live Broadcast via Zoom

Adapting and Thriving: Transforming Real Estate Transactions Together

More info to be released soon

JOIN OR RENEW TODAY Text “MAA” to 50457 to join or renew your annual MAA membership.

JOIN MAA

It's not too late to sign up for MAA (Mortgage Action Alliance) if you haven't or if you haven't taken action in 1 year.

ENGAGE WITH MAA RESOURCES

• Receive updates on bills affecting our industry

• Let your elected officials know how those bills will impact you directly

• Research bills that MBA is watching

• Find contact information for incumbents and candidates on the federal, state and local level

• Participate in MAA’s Quarterly Webinar Series and other initiatives throughout the year

RI Housing News

Extra Assistance Loan

RIHousing’s Extra Assistance program provides down payment assistance to eligible first-time homebuyers in Rhode Island. The program is designed to help homebuyers with what is often the biggest hurdle to homeownership: the down payment.

Household income limits for certain programs have also been increased. Please see below. There are no income limits for the Extra Assistance Loan, Conventional first mortgages, and Government first mortgages for non-first-time homebuyers that will occupy the property.

New Household Income and Acquisition Cost Limits

Effective 3/5/24, the household income limits are increased for the Mortgage Revenue Bond Programs (MRB), RI Statewide DPA Grant and the 15kDPA Program:

Maximum Annual Household Income:

$134,320 (1 or 2 person household)

$154,468 (3+ person household)

Maximum Acquisition Price Limit/Cost:

$838,592

NEMBC 2024

ONLINE EDUCATION OFFERINGS / PROFESSIONAL DEVELOPMENT

FHA Underwriting, Processing & Origination Live Webinar

June 4, 6, & 13, 2024 @ 1-5pm EST

RIMBA MEMBERS get 25% off. Contact RIMBA office for coupon code.

Bootcamp

Mortgage Bootcamp

and

Professional Development courses

Learn more - OnCourse Learning

NMLS and courses to help you advance your career, learn new skills, and achieve success.

Keep learning. Keep growing.

Member Spotlightt

Pilgrim Title Insurance Company has been providing excellent experiences for over 25 years with residential and commercial real estate transactions. Since its inception, Pilgrim Title has been committed to building strong relationships with realtor and lender clients and working to provide excellent service to all parties with professionalism, accuracy and responsiveness. Pilgrim Title Serves all of Rhodes Island through its four convenient locations: East Providence, Barrington, Wakefield and Newport. For snowbirds or anyone else who enjoys the warm weather, we service all of Florida through our centrally located office in Celebration, Florida. Additionally, we can assist in Connecticut, New Hampshire and Massachusetts through our affiliated law firm Montalbano, Belliveau & St. Sauveur, LLP.

Through the company’s strategic growth, we remain committed to accessibility. Our veteran team pf attorneys, paralegals and support staff are here to provide support and guidance through the process to ensure smooth closings. We pride ourselves on being responsive to questions in a timely manner. We always have an attorney available to assist, even after hours and on weekends. Can’t make it to our office for a closing? We will come to you! We look forward to working with you and your clients!

Please feel free to reach out to us any time by phone at (401) 274-9100 or send us an email contactus@pilgrimtitle.com

RIMBA PAC 2024 Drive - Did you know????

One of the most important roles of RIMBA is to represent the mortgage banking industry before the Rhode Island General Assembly.

Each year, RIMBA’s Legislative Committee reviews over 1,000 bills, identifying those which pose a risk to our business. The Committee works with RIMBA’s paid lobbyist, Lennette Forry-Menard, Champion Advocacy Associates, lobbying the General Assembly leadership and members on behalf of the industry to reject or modify those bills that are problematic. Part of this lobbying effort includes.... (more)

Employers! Start a payroll deduction program for your employees.

Check out Current list of 2024 Contributions collected Nov. 1, 2023 - Present

To join our list of contributors, make your contribution here

SEEKING VOLUNTEERS

RIMBA's policy is to fill vacated Director seats from our pool of dedicated committee members. RIMBA is looking for you to become a volunteer. Some of our committees include: Education, Legislative, Marketing/Program, Women in Mortgage Banking, Young Mortgage Professionals, RIMBA Relief (charitable), and Strategic Planning.

Check out the committees here .

Please contact RIMBA to get on a committee at info@rimba.org

STAY CONNECTED

www.rimba.org

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