 The MMLA Mortgage Pipeline
MMLA's Weekly e-Newsletter!
February 27 2023
"MMLA - Keeping Members Informed"
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  Make your plans now to attend these webinars - FREE for MMLA members:
SE Chapter Networking Night!
February 28, 2023
Bar Louie, Novi
Northern Michigan Luncheon w/HBA of Traverse City
March 2, 2023
Traverse City Country Club, TC
Mid Chapter Event with LEAP
March 21, 2023
Consumers Credit Union, Lansing
West Chapter Economic Breakfast Meeting
March 23, 2023
Egypt Valley CC, Ada
MMLA Sales Rally 2023! HAVE YOU SEEN THIS LINE-UP OF SPEAKERS?
Reserve your spot before it is sold out...
Invite your sales team and save $$ with the group rate! Price increases March 1. Sponsor spots still available too!!
MMLA Events Calendar - Be sure to visit our website calendar for the 2023 event dates and include some of the MMLA events in your 2023 budgets now!
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March is MMLA Membership Month! Help promote MMLA membership and get entered to win a nice big gift card, Simply refer members to join the MMLA by having the complete the on-line application form here - and enter your name on the "referred by" line. You will get 1 chance at winning for every 3 individual members referred and 2 chances for every corporate partner referred. This is for the full month of March so get started now! MMLA is stronger in numbers - with almost 1200 members currently. Let's get even stronger with your support!
Welcome these new MMLA Members:
Greg Baker, Class Valuation
Luke Clinger, MSU Federal Credit Union
Jacob Dittrich, The Huntington National Bank
Abigail Fraser, Traverse Catholic Federal CU
Michael Holmes, Class Valuation
Aaron Lively, Exactus Appraisal Management LLC
George Mansour, Ross Mortgage Corp.
Melissa Moraccini, Michigan Schools & Gov't CU
Mike Paige, The Huntington National Bank
Francette Pate, The Huntington National Bank
Melissa Peregord, QC Ally
Rob Roldan, Class Valuation
Kseniia Ukhanova, A & D Mortgage LLC
Amanda VanEss, MSU Federal Credit Union
Ashley Walton, Exactus Appraisal Management, LLC
Sarah White, QC Ally
Welcome these new President's Club Corporate Partners:
  
Remember: Members can access the MMLA on-line membership directory by logging in to the MEMBER CORNER section of the website. If you need help with your log-in information, contact [email protected]
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Mark Your Path for a Strong Future in the Mortgage Industry!
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. Application link is below and should be sent with a letter of recommendation from participant's supervisor.
The MMLA Future Leaders Program consists of seven (7) classes presented by Certified Mortgage Bankers (CMB) who have hands-on experience and expert knowledge of the content. Classes will be held live virtually via Zoom. There will be 2 meetings per month, April - June, 1 hour each (Underwriting will be 90 minutes) for a total of 7.5 hours of class-time work.
During the program, participants will be paired with other participants to discuss the content and collaborate on a final group project. At the end of the program, the candidates will present final reports live at a “graduation” reception in July! The team with the winning project will not just get bragging rights, but will also receive a free registration pass to attend the MMLA Annual Lending Conference August 9 - 11 at Soaring Eagle Casing Resort in Mt. Pleasant, MI. Completion of this program will also give participants 5 earned credits toward the MBA’s CMB program requirements.
MBA Advocacy Update
Watch this week’s video
MBA Statement on HUD’s Reduction of the Mortgage Insurance Premiums on FHA Loans
Federal Issues/Developments Highlights:
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- MBA, Industry Trades Request Extended Comment Period for SEC’s Securitization Conflicts of Interest Rule
- FHA Releases RFI on 203(k) Rehabilitation Program
- FHFA Requests Input on the GSEs’ Single-Family Social Bond Program
- MBA Expresses Concerns Regarding New DTI-Based LLPA
- CFPB Loses Key IMB Redlining Case
- House Financial Services Subcommittee Convenes Legislative Hearing on Federal Data Privacy
- House Appropriations Committee Officially Organizes for the 118th Congress
- Senate Banking Committee Holds Housing Hearing
- MBA Submits Comments Responding to HUD ROV Draft ML
- MBA Responds to FHA’s Fall 2022 Default Servicing Priorities
Read the full stories highlighted here.
Feb 21 Feb 21 SE Feb 22 Feb 22 SE Feb 23 Feb 24
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Detroit Named as Having No. 1 Riverwalk AND the No. 1 Public Square in the Nation as voted by USA TODAY.
According to Michigan’s DIFS (Department of Insurance and Financial Services ) Member, Daniel Grzywacz, CMB who is chair of the Mortgage Advisor Board under the DIFS, has shared with us the following statistics that he thought the membership may have an interest in knowing.
Licensee Population / Statistics -
February 2023 February 2022
MLOs:
Approved: 14,793 19,524
Approved-Inactive: 825 1,018
Total: 15,618 20,542
Applications currently pending: 225
1st Mortgage Licensees/Registrants:
Licensees: 1,034 939
Registrants: 272 265
Total: 1,306 1,204
Applications currently pending: 45 (Licensees 36, Registrants 9)
New Application Volume:
Received to Date 2023 Received in 2022
MLOs: 295 6,407
1st Mortgage: 31 335
2nd Mortgage: 12 177
These numbers represent a 25% or so decrease in Mortgage Loan Officers licenses. This is obviously a result of the downturn in the mortgage origination market that started mid-2022. I expect a further decline throughout 2023.
Another area the board is looking at and advising the Michigan mortgage lenders to get involved with is the area of trigger leads. That seems to be become quite an issue with our members. Mortgage application customers are actually being harassed by other potential lenders after they apply with one of our members. This is an area that's been looked at on the federal level for years and the Michigan mortgage lenders with looking to make something happened with the state legislation. This will be a slow and arduous process.
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