In this Issue

September 2017 Edition


Presidents Message

State News & Events

Legislative Update - George Klaetsch

Renew Your Membership

WMBA Annual Golf Outing Recap

Best in Business Awards

Chapter News & Events

Madison Chapter News

Presidents Message

WMBA Members,
It’s hard to believe the 4th Quarter is rapidly approaching.  Just a reminder the WMBA membership dues are due on September 30th. Thanks to all those companies that have paid their dues in advance.  Special thanks to new member Optimal Blue for adding to our base of members who are industry leaders.

On September 21st, the Madison Chapter helped their annual Fall Kick off Event at the Hotel Red with over 70 members in attendance.  The highlight of the evening was when Steve Hansen presented Lori Ortgiesen with the Distinguished Service Award. 

Please join us for the 3rd Annual Best in Business Awards at the Concourse Hotel in Madison on Thursday, October 19th. This is one of our flagship events of the year as we will host approximately 300   members and recognize those have excelled in our industry. This is a great night for team outings to celebrate your success.

Thanks and have a great October!

Joe Doyle
WMBA President 2017-2018

Legislative Update - George Klaetsch

WMBA Legislative Committee Announces New Leadership/Membership
On September 26, the WMBA Legislative Committee convened their first meeting of the 2017-18 membership year. 
During this term, the Legislative Committee will be Co-chaired by Ken Dickson of Johnson Bank and Cheryl Paul of Settlers Bank.  Both Dickson and Paul are seasoned veterans of the legislative committee and have provided valuable perspective and direction to ensure the WMBA maintains its reputable status as a valuable resource to the state legislative and executive branches of government.

As in years past, the co-chairs cannot lead a strong Legislative Committee without the robust participation and perspective of diversified committee members.  This year, the WMBA may have its strongest and most diversified committee membership yet.  A special thanks to the 2017-18 legislative committee members for their commitment to the WMBA:
Committee Member Employer
Ken Dickson,  Co-Chair Johnson Bank
Cheryl Paul, Co-Chair Settlers bank
Peter Bugelis BMO Harris
William Foshag Gray & Associates, LLP
Craig Haskins Knight Barry Title, Inc.
Shawn Hillmann Codilis, Moody & Circelli, P.C.
Steve Luebke North Shore Bank
Teressa Rowley First Bank Financial Centre
Trent Sveom Park Bank
Jerry Warmus US Bank
John Walrath Bright Financial Svc, LLC
Pete Wilder Godfey & Kahn, S.C.
With six months remaining in the 2017-18 legislative session calendar, there are a number of policy proposals that the committee will be vetting.  Those include, but are not limited to; Appraisal Management Company reform in response to Dodd/Frank, internet-based sheriff sale auctions of foreclosed properties and incorporating financial literacy into curriculum of public schools.
The next WMBA Legislative Committee meeting will be held on November 28.

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Renew Your WMBA Membership Today

If you have not already do so, please log-in to renew online or submit the Membership Renewal Form. Renewals are due by September 30, 2017 to continue receiving your membership benefits. Thank you for your support in WMBA!

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WMBA Annual Golf Outing Recap

WMBA members and guests had an opportunity to play golf in the annual WMBA golf outing on September 7 at the Broadlands Golf Club in North Prairie. 111 golfers enjoyed a shotgun scramble, dinner, and prize drawings.  

Congratulations to the winning team of Kevin Delimat (Security National Mortgage) , Jason Schiller (Success Mortgage Partners), Jonathan Schultz (Security National Mortgage). 

Thank you to Matt Pierce, Craig Kouba, and Bob Conley for their work on organizing another great outing. 
Thank you to those who donated a door prize and to our generous event sponsors!

Thank you to Our Sponsors!

Event Sponsor

Score Card 


Cart Sponsor


Lunch Sponsor:

Beverage Cart


Dinner Sponsor

Hole Sponsors



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Best in Business Awards

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



Thank you to Our Sponsors!

Platinum Sponsor

Event Sponsors


Table Sponsors

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Chapter News & Events

Madison Chapter News

The Madison Chapter held its annual fall kickoff event last week at Hotel Red. Approximately 60 people attended this fun outing. The 2017-2108 board of directors were introduced as well as the finalists from the Madison chapter for the best in business awards. Rob Helvey was presented the past presidents plaque by incoming president Pistol Pete Stebbins. Lori Ortgiesen was awarded the Distinguished Service Award, a much earned and deserved recognition.

The chapter is planning a seminar on Wednesday November 9th.  Plans are well under way for the annual bowling fundraiser –March 2018, as well as the golf outing, May 2018.

MBA Update

MBA Releases White Paper, “CFPB 2.0: Advancing Consumer Protection”

The Mortgage Bankers Association (MBA) released a new white paper, prepared for MBA by the law firm of Covington and Burling, entitled CFPB 2.0: Advancing Consumer Protection. The paper examines the approach of the Consumer Financial Protection Bureau (CFPB) during its first five years of undertaking enforcement actions in key areas--including actions that clearly departed from prior published interpretations—without providing sufficient supervisory guidance to the industry in advance. 

“The CFPB has done well where it’s developed rules that focus on the worst excesses of the pre-crisis market,” said David H. Stevens, CMB, President and CEO of MBA.  “However, the Bureau has too-often opted for a ‘regulation by enforcement’ approach that uses enforcement actions, rather than written guidance, to communicate to the industry about practices it finds problematic.  The CFPB can better protect consumers by publishing clear, consistent regulations and bright-line guidance like other regulators.”

The paper urges the Bureau to exercise its ample authority to regularly provide authoritative explanatory and clarifying guidance to the industry – consistent with the practices of the other federal financial services regulators.  Finally, the paper offers recommendations for change to help the CFPB better achieve its consumer protection mission.

Stevens continued, “The Bureau’s reluctance to issue clear guidance on the laws it inherited, such as the Real Estate Settlement Procedures Act, has resulted in a confused, uneven market that actually narrows consumers’ access to sustainable credit.  Now is the time to look back at what has been learned over the past five years and make some key changes that will help consumers and the industry alike.”

The eight recommendations in the paper urge that the CFPB:
  1. Place a priority on issuing appropriate guidance to facilitate compliance with federal law;
  2. Establish guidelines for when and how it will issue and revise rules and guidance;
  3. Acknowledge that the agency is bound by its guidance;
  4. Ensure appropriate industry input on mortgage and other issues;
  5. Provide timely answers to questions on regulations with authoritative guidance;
  6. Publish notice of changes in guidance and apply those changes prospectively;
  7. Provide appropriate time for regulated entities to comply with rules; and
  8. Ensure due process in its enforcement actions.

For a copy of the full report, please visit

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MBA’s RIHA Releases Special Report on Managing Mortgage Product Development Risk

The Mortgage Bankers Association's Research Institute for Housing America (RIHA) today released a new special report, Managing Mortgage Product Development Risk." The report "recommends a more formalized approach to assessing mortgage product risk that takes into account both product and process risk." It was authored by Clifford V. Rossi, Executive in Resident and Professor at the Robert H. Smith School of Business, University of Maryland. You can download the full paper here.

"Now is a particularly important time to pay attention to risk management in mortgage products," said Lynn Fisher, RIHA Executive Director and MBA's Vice President of Research and Economics. "The single-family mortgage market is undergoing significant change these days. As employment continues to improve and borrower demographics continue to change we will see increasing demand for new or re-imagined mortgage products."

"Mortgage banking is a highly cyclical business, prone to expansion and contraction as market conditions change.  Mortgage product innovation is healthy for the industry and consumer so long as product risks and process quality are well understood. This study provides the industry with a framework for addressing both in an integrated manner," Professor Rossi writes. "Leveraging systems engineering and commercial real estate risk rating methodologies, the paper describes scorecards for assessing product risk and process quality. Such tools can be customized and provide a means of evaluating mortgage products and for identifying potential gaps in processes and product prior to product release."

Professor Rossi will discuss this paper and other emerging risk management issues during a panel at MBA's Risk Management, Quality Assurance & Fraud Prevention Forum 2017 in Miami, FL later this month. 

MBA's Research Institute for Housing America (RIHA) is a 501(c)(3) trust fund. RIHA's chief purpose is to encourage and assist--through grants to distinguished scholars and subject matter experts, educational institutions, research facilities and government organizations--establishment of a broader based knowledge of mortgage banking and real estate finance. You can find additional studies on RIHA's website:

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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

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