In this Issue

April 2017 Edition

  Presidents Message

State News & Events

Legislative Update - George Klaetsch

Board of Directors Nominations

Real Estate Conference Recap

FHLMC "Home Possible"

Save the Date: WMBA Annual Golf Outing

Best in Business Awards

Chapter News & Events

Madison Chapter Events

Milwaukee Chapter Events

Presidents Message


April showers bring May flowers and new home loans!

Thank you so much to those who attended the 43rd Annual WMBA real estate conference!  I hope you had as much fun and learned as much as I did.  Put April 16 and 17th of 2018 on your calendar right now so you block off your schedule for the 44th Annual WMBA real estate conference.  This one will be held at the spacious Hyatt Regency hotel in downtown Milwaukee.  As loan as we are marking our calendars, please mark Sept 7th for the WMBA golf outing at the Broadlands Golf Club and October 19th for the Best in Business awards held in Madison at the beautiful Concourse Hotel and Governor’s Club.  Both events will be coming up before you know it.

Have you been keeping up with our social media posts?  Did you know we now have almost 200 followers on our Linkedin page with more being added each week?!  Our social media intern Justin keeps adding great content to each of our platforms so check back regularly.  Please let me know if you have other great content that would benefit our membership.  All of our social media platforms can be quickly accessed from the top right of our webpage.  Just click on the social media icons and sign up!  The more the merrier!

We are nearing the end of my year as President of this great association and are accepting requests for nominations for new WMBA board of directors positions.  Our organization is only as strong as your involvement in it.  Please consider offering your time and expertise to this growing and influential organization by adding your name to the slate of nominees.  Please contact me with any questions on the position, its time commitment or other questions relating to the leadership.

In a show of good faith to the wonderfulness of summer, we are opening our pool today.  Wish me luck!  Maybe I should host a WMBA event….

Legislative Update - George Klaetsch

Budget Bill Primary Focus In May 
While there may not be many items in Governor Walker's 2017-19 Biennial Budget that directly affect the mortgage banking industry (that is a good thing), there are a number of items that are of interest to our industry and association.  As we all know, good roads, good schools and a good economy are helpful to those consumers looking to purchase a home. 
In April, the 16-member Joint Committee on Finance held six hearing across the state that allowed the Wisconsin constituency to engage and provide feedback on items the Governor proposed in his budget.  These eight hour hearings that average approximately 200 individual testimonies are an excellent opportunity to hear what our fellow Wisconsinites are most interested in.
The Committee now transitions to the Executive Session portion of the budget throughout May.  During this portion, the committee will take votes on each agency and section of the Governor's budget.  And while there are less controversial items in this budget compared to previous budgets, the transportation portion of the budget is expected to be thorough and bruising. 

Assembly GOP leaders earlier this year said they had a framework in place to cut taxes by $300 million to pave the way for a boost in transportation funding. At the time, Assembly GOP leaders said they were taking that approach because Gov. Scott Walker had said he would veto any budget that included a gas tax or registration fee increase without an offsetting tax cut elsewhere.

Walker this week suggested fees could be part of the final mix, though he remains opposed to a gas tax hike. 
On other issues:

*K-12: Both co-chairs indicated the guv's $649 million investment in K-12 education is likely to largely survive intact

*UW: Assembly Republicans are generally opposed to the guv's 5 percent tuition cut in the second year of the budget, while Darling said her colleagues are split.

Some Senate Republicans back the guv's call. Others want to cut tuition but won't want to provide the $35 million in state aid Walker is proposing to backfill it. And others want to simply leave the tuition freeze in place.

*Self-insurance: The Committee has indicated they are open to looking at other ways to save money in the state employee health insurance program other than moving to a self-insurance model. That could include, for example, higher co-pays, deductibles and premiums. 

As members work through the issues stated above and multiple others this Spring, it is hoped that they JFC will conclude their votes in May allowing the full Assembly and Senate to vote on the Budget in June.

Return to Top

Board of Directors Nominations 2017-2018

It's that time of year when we are accepting nominations for the 2017-2018 Board of Directors. This year we have (2) regular director positions open. Eligible candidates must be:

- A member in good standing of WMBA
- Willing to attend six (6) bi-monthly board meetings
- Willing to represent members in matters considered by the board of directors

Please send all nominations including full name, company, and email address to Joe Doyle and WMBA Admin.

Nominees will be contacted for further information and confirmation of acceptance. All nominations will be reviewed by the nominating committee. Following review, the committee will present a slate to member representatives for vote. 

All nominations are due by Friday, May 5, 2017.

Return to Top

Real Estate Finance Conference Recap

The Real Estate Conference was held April 6-7, 2017 at the Potawatomi Hotel in Milwaukee.  Approximately 200 attendees had an opportunity to network with other members, listen to educational speakers, and visit the exhibitors. 

Thursday evening kicked off the event with food, networking, and an opportunity to test your luck on the casino floor. 
Friday was full of education and networking. Exhibitors were on hand to provide information on their products and services. Andy Taylor, joined the group in the morning for a virtual presentation from Sean Duffy's Office in Washington DC. Secretary Jay Risch spoke from the Department of Financial Institutions. William Testa addressed the group prior to lunch. The Worlds Worst Waiter, Don Pryor entertained us all during lunch. Jennifer Du Plessis and Tina Hallis presented during the afternoon breakout sessions. Wrapping up the day was Mike Theo, President and Chief Executive Office, WRA.

The silent auction raised nearly $3,000 for the WMBA Education Fund. Thanks to everyone who donated and bid on the items. Thank you to the committee for their great work and execution of a successful conference!

Please save the date for next year and join us in Milwaukee at the Hyatt Hotel on April 16-17, 2018.
Breakout Speaker Information
Tina Hallis wrote an article recapping her presentation "Positivity in the Workplace." Click here to read the article.

Jennifer Du Plessis presentation is available here.


Return to Top

FHLMC "Home Possible"

May 11, 2017
Delafield Brewhaus
3832 Hillside Drive
Delafield, WI

Registration deadline: Monday, May 8

Return to Top

Save the Date: WMBA Annual Golf Outing

September 7, 2017
Broadlands Golf Club
18 Augusta Way
North Prairie, WI

Return to Top

Best in Business Awards

October 19, 2017
The Madison Concourse Hotel & Governor's Club
1 West Dayton Street
Madison, WI


Return to Top
Chapter News & Events

Madison Chapter

Golf Outing

May 18, 2017
University Ridge Golf Course
9002 County Road PD
Verona, WI 

Registration deadline Monday, May 15



Chapter Social

May 17, 2017
Ground Round
1005 S. Moorland Rd.
Brookfield, WI 

Return to Top





Return to Top

MBA Update

MBA Offers Detailed GSE Reform Propasal

The Mortgage Bankers Association (MBA) released a white paper GSE Reform: Creating a Sustainable, More Vibrant, Secondary Mortgage Market which provides a detailed picture of a reformed and revitalized secondary mortgage market. It also attempts to shed light on two critical areas that have tested past reform efforts - the appropriate transition to the reformed system and the role of the secondary market in advancing an affordable housing strategy.

"This paper not only lays out a detailed end state solution that will work for the residential and multifamily markets, but also the transition steps to accomplish this goal," said Rodrigo Lopez CMB, Executive Chairman of NorthMarq Capital and Chairman of MBA. "We look forward to working with Congress and the Administration to find a permanent, sustainable solution to the government's role in housing finance that doesn't repeat the mistakes that led to the crisis."

"Key leaders on Capitol Hill and in the new administration have made it clear that GSE reform should be accomplished through bipartisan legislation," said David H. Stevens, CMB, MBA's President and CEO. "While progress has been made during conservatorship, only Congress has the power to ensure lasting reform."

Specifically, MBA developed an approach to GSE Reform that will: 
  • Inject much higher levels of risk-bearing private capital into the mortgage system, while dramatically reducing the system's reliance on government support.
  • Enhance the stability of the mortgage system with multiple Guarantors that will operate as privately-owned utilities.
  • Protect taxpayers and consumers with a clear set of market conduct rules, prudential requirements, and a new federally-backed Mortgage Insurance Fund (standing behind the mortgage backed securities, not the Guarantors themselves) financed with appropriately priced insurance premiums.
  • Ensure that mortgage lenders of all sizes and business models have equal access to the secondary market.
  • Improve service and performance in the secondary market with multiple Guarantors competing on operations and systems development, customer service, product parameters and innovation, and pricing and execution.
  • Minimize disruption during the transition to the new system by preserving what works in the current system and utilizing the existing regulatory framework where appropriate.
  • Meet the needs of the full continuum of households, from families requiring the most directly subsidized, affordable rental homes to those served by the completely private jumbo single-family lending market.
This paper is a follow up to GSE Reform: Principles and Guardrails, which MBA released in January.

Both white papers derive from the work of MBA's Task Force for a Future Secondary Mortgage Market, made up of individuals from MBA member companies representing a broad cross-section of the residential and multifamily real estate finance industries, including entities of varying sizes and business models.

"The secondary mortgage market plays a vital role in promoting access to credit for prospective homeowners, the development and preservation of affordable rental housing, and support for underserved market segments.  MBA's proposal will help ensure lower housing costs and affordability for all Americans," said Debra W. Still, CMB, President and CEO of Pulte Mortgage, and a Task Force member. "Furthermore, GSE reform must be done with the objective of maintaining a level playing field for all lenders. The secondary mortgage market is strongest when it is well-positioned to serve the most diverse group of lenders possible, thus promoting broad competition which is ultimately beneficial for consumers.  MBA's proposal meets these complementary goals."

"The GSEs provide crucial support to the multifamily market. MBA's detailed end state solution preserves this role and expands its ability to support affordable housing and workforce housing for owners and for renters," said Michael C. May, Executive Managing Director, Berkeley Point Capital, and a Task Force member.

The white papers can be found on MBA's website.

Return to Top

MBA Offers Recommendations on Fostering Economic Growth

Full article available here

Return to Top

The School of Mortgage Banking



The School of Mortgage Banking (SOMB), Course I gives you the power to be a more knowledgeable and productive team player.

Course Date

May 16-19, 2017 | Pewaukee, Wisconsin

Lessons You Will Learn:

Day 1: Introduction to Mortgage Banking, Ethics, Regulatory Compliance, Mortgage Law
Day 2: Loan Products, Loan Production
Day 3: Fraud & Quality Assurance, Loan Administration, Case Studies
Day 4: Secondary Marketing, Warehouse Lending, Commercial Lending

Who Should Attend:

SOMB I is designed for residential mortgage executives, management, loan originators, processors, underwriters, servicers and compliance professionals.

Click here to Register!

Return to Top

Wisconsin Mortgage Bankers Association Online Store

The WMBA and the MBA have teamed up to bring you great access to the education components you need to stay current in the Mortgage Banking Business.

For every product purchased through the WIMBA-MBA store the WMBA receives a % back.  

Please use the link below to help support our Association!

Wisconsin Mortgage Bankers Online Store

Remember to check back often!