In this Issue
State News & Events
Legislative - New Lobbyist
Dear WMBA Members:
So much is happening to bring you the best value we as an Association can offer you to grow and develop your business. We are here for you and have hit the ground running.
As a reminder please look for the email regarding your membership dues renewal. Please get that processed so you are in active membership status to enjoy some of the great events we have planned.
We had our first State Board of Directors meeting, August 15, 2018. It was electrifying with the amount of energy and ideas being exchanged.
We introduced our new Lobbyist, Buddy Julius of The Firm. Buddy took a few minutes to share his vision on how we as an association will develop with our state representatives. It was refreshing and a renewal of spirit within our group. Your Legislative Committee is already busy at work aligning with Buddy providing a list of our members, their home addresses to match them to their representatives. As we move forward, as an Association, we ask you to assist us by attending events that your representative is present. This will solidify our message to our representatives building relationships between the Association and them when the time comes when we need them to hear us on items impacting our industry on a non-partisan basis, we will be heard because of that relationship. Watch for updates on the website under our Legislative Updates.
Our Single Family Residential Committee will be holding their open meeting on Wednesday, September 5, 2018 at Albanese’s Road House, Waukesha, WI at 4:00 pm. There is a good discussion on topics that we face in our industry, and valuable solutions to share. We are extending the Single Family Residential Committee to the Northeast region, and setting up a committee meeting in Green Bay, August 23, 2018. These meetings are open to those who are members, and those who would like to attend one meeting to see the value of becoming a member. Appleton will follow in September. Keep an eye on the WMBA Website for information.
Our Educational Committee, has locked in the date of October 4, 2018, for a Go to Meeting with Fannie Mae with two sessions. The 9:00 a.m. session is on the top 15 questions that Fannie Mae receives for guideline clarification, and more information on Day One Certainty. The second session will begin at 10:30 and will be about the top servicing concerns, or best practices. Registration will open early September. You must be a member to register for this and receive the Go to Meeting invite. They are developing the same format with Freddie Mac for early February. Our Boot Camp will be presented on November 13 and 14th at the Delafield Brewhaus watch the website for details next month for registration. Space will be limited so register early. This is a full day and a half, seven segments of instructions from taking a loan application to closing, to business development.
Our Membership Committee wants you! There is no better advertisement than word of mouth. Talk up our Association and encourage others to join. Anyone who is affiliated with our business has an opportunity to become a member. We have added subcommittees to our membership to have an ambassadorship to be there to get the new members introduced and active. We will be offering ten opportunities for our Diversity Mentorship Program. Stay tuned for more details on our website regarding this program.
Best in Business Committee has taken the task to shorten the nomination survey, so you can easily complete the nominations. All you need is a person’s name, their company, their position, and a comment section as to why you feel they should be nominated for this prestigious State Award. The awards have been restructured, any active member, or employee of a member is eligible to be nominated, so look to who you know in your area. The voting has been increased to include all the directors on the State Board, and Madison and Milwaukee Chapter Boards, to have a larger input on the final selections sent to the Committee.
All the Companies of the nominees, will be posted on the website. The committee also added definitions and criteria for each category to assist. The Lifetime Achievement will be selected by the Committee. It is up to you as a member to get your nomination noted for the awards, and drive the nomination toward a win by asking others to also consider them as a nomination.
Communications and Public Relations Committee: Welcome to the WMBA. This committee has launched a new value add for our members. We are branding the WMBA. Look to the website, and logo section. With your company’s permission download the logo to your email signature line, if possible to your company website, or letterhead, or business cards. This distinguishes you from your competition as being a member to a trusted association in the industry. Similar to what realtors and builders use to set them apart from their competition, and promote good business practices.
We are using social media to promote the Association events, and community involvement, as a member please submit this items through your chapter, to get sent to the Communications Committee.
Additional, we are looking to develop a phone App that will give you the ability to look at events, committee meetings, and register or acknowledge attendance from your phone. Watch the website for updates.
The State Golf outing is looking to be a smashing success. Please hurry to register your foursome, or attend the dinner, time and space is running out. An excellent challenges on the course, prizes, dinner and comradery, a day doesn’t get better than that.
Thank you again for MAKING YOUR MARK, and becoming active in “your” Association.
WMBA President 2018-2019
National Mortgage Insurance Corp.
The Firm Consulting team is excited to work with and on behalf of the WMBA. As a leading public affairs firm with offices in Milwaukee and Madison, we have consistently delivered successful results to a wide range of clients through legislative lobbying, procurement, community outreach and business incentives and development.
Buddy Julius Ryan Murray Ninia Linero
Buddy Julius founded The Firm Consulting in 2010 and serves as managing partner and president. He works closely with clients based across the country to create and implement government relations strategies at the state and local levels in Wisconsin.
With nearly two decades of experience working with the Wisconsin Legislature, corporations with significant presences in Wisconsin and local trade associations, Julius brings unique expertise and understanding of how to effectively and efficiently solve his clients’ challenges. His clients have spanned diverse fields, including transportation, healthcare, high-tech initiatives, procurement, startup initiatives, education, real estate and financial services. Julius represents the majority of his clients on a multi-state, federal and municipal level.
Ryan Murray serves as a partner at The Firm Consulting. Murray joined The Firm Consulting after serving as deputy chief of staff to Wisconsin Gov. Scott Walker during the most pivotal years of the Walker administration. He is currently the most senior member of the Walker administration serving as a public affairs consultant.
As deputy chief of staff, Murray oversaw the development of Gov. Walker’s public policy agenda during a time when Wisconsin became a national leader in government reform. He also managed his relationships with the state legislature and worked closely with cabinet secretaries on policy implementation, management and communications. Murray was intimately involved in the development and negotiation of the state’s biennial budget and shepherded to passage much of the governor’s most influential legislation. Murray also served as policy director for Gov. Walker’s 2010 campaign.
Ninia Linero is the Firm Consulting’s Director of External Affairs, Ninia Linero works to implement and manage strategic public affairs initiatives to successfully achieve client objectives.
Linero spent the past two years as an intern of The Firm Consulting handling communications, public relations and client events. She now works closely with elected officials, community leaders and media personnel to maintain positive partnerships in the community with client advocacy in the forefront of priorities.
The WMBA Best in Business awards were created in 2015 to recognize the exceptional work of individual employees and the commitment they have to the Mortgage Lending Industry. On October 25th we will present the winners of the 4th Annual Best in Business Awards. This year the award categories are:
Additionally, a Lifetime Achievement Award will be selected by the Nomination Committee. This committee consists of a large, diverse group of directors from the WMBA Board, Madison and Milwaukee Chapter board members, and a group of other members of record who will screen all nominations.
The Brute Course - Grand Geneva
Grand Geneva Resort
7036 Grand Geneva Way
Lake Geneva, WI 53147
This year we moved the event to the beautiful Grand Geneva Golf Resort on The Brute Course, rated one of the best in the Midwest. Join us on September 12th for a fun day of golf and networking.
Registration for golfers or to join us for Dinner Only is still open for a few days. Don't miss out!
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October 25, 2018
Milwaukee Marriott West
W231N1600 Corporate Ct
Waukesha, WI 53186
Celebrate the Best in Business with WMBA! Join your colleagues on October 25 as we announce the winners of this year’s awards and celebrate the best in the Wisconsin Mortgage Industry. Sponsorship details for this event can be found here. Nominate your peers for the awards at the 2018 Best in Business Nomination Survey.
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The Milwaukee Chapter had selected ACTS Housing in advance of the raffle. They promote helping diverse families purchase homes in Milwaukee’s inner city, which helps improve Milwaukee neighborhoods.
For more details, you can go to their website at: https://actshousing.org/
Here are a few photos from the event.
5:00pm - 7:00pm
1005 S Moorland Road
Cost is FREE
Rebecca (Becky) Masik, SRA, AI-RRS will speak at 5:30. Becky is a WI Certified General Appraiser with SRA and AI-RRS designations from the Appraisal Institute. She is a Supervising Appraiser for Chudnow Druck Valuation and Director of Operations/Compliance Officer for Heritage Valuation Services.
Becky will address current appraisal issues, such as: appraised values vs purchase prices, inventory, market trends, etc.
More details to follow!
Madison Chapter 2018 Fall Kick Off
Wednesday September 26, 2018
Please join us to for our annual kick-off event! We will be introducing the 2018-2019 Board of Directors and honoring our Past President, Peter Stebbins and the 2018 Distinguished Service Award Recipient, Todd Snodgrass. We will also have a 50/50 raffle available with proceeds to benefit Ronelle Escher.
Among servicers with retained or purchased servicing of U.S. mortgaged, income-producing properties, Wells Fargo, PNC/Midland and KeyBank are the largest primary and master servicers for CMBS, CDO or other ABS loans; Cohen Financial, a Division of SunTrust Bank is the largest for credit company, pension funds, REITs, and investment fund loans; Wells Fargo, Walker & Dunlop, and Berkadia are the largest for Fannie Mae loans; Wells Fargo and KeyBank are the largest for Freddie Mac loans; Red Mortgage Capital, LLC, Walker & Dunlop and Berkadia are the largest for FHA & Ginnie Mae loans; HFF, LP, NorthMarq Capital, and CBRE for life insurance company loans; Wells Fargo for loans held in warehouse. PNC and Wells Fargo are the largest named special servicers.
Wells Fargo, PGIM Real Estate Finance, and MetLife are the top servicers for loans held in own portfolio, U.S. mortgaged, income-producing properties.
PNC and Berkadia are the top fee-for-service primary and master servicers of U.S. mortgaged, income producing properties; Wells Fargo and Capital One Financial Corp rank as the top master and primary servicers of other types of commercial real estate related assets located in the United States; and Situs and CBRE are the top primary and master servicers of non-US CRE-related assets.
A primary servicer is generally responsible for collecting loan payments from borrowers, performing property inspections and other property-related activities. A master servicer is typically responsible for collecting cash and data from primary servicers and then providing that cash and data, through trustees, to investors. Unless otherwise noted, MBA tabulations that combine different roles do not double-count loans for which a single servicer performs multiple roles. The tabulations can and do double-count across servicers’ loans for which multiple servicers each fulfill a role.
Specific breakouts in the MBA survey include:
Mortgage Applications Increase in Latest MBA Weekly Survey
WASHINGTON, D.C. (August 22, 2018) — Mortgage applications increased 4.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 17, 2018.
The Market Composite Index, a measure of mortgage loan application volume, increased 4.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased three percent compared with the previous week. The Refinance Index increased six percent from the previous week. The seasonally adjusted Purchase Index increased three percent from one week earlier. The unadjusted Purchase Index increased one percent compared with the previous week and was one percent higher than the same week one year ago.
The refinance share of mortgage activity increased to 38.7 percent of total applications from 37.6 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 6.5 percent of total applications.
The FHA share of total applications decreased to 10.2 percent from 10.4 percent the week prior. The VA share of total applications decreased to 10.5 percent from 10.6 percent the week prior. The USDA share of total applications decreased to 0.7 percent from 0.8 percent the week prior.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) remained unchanged from 4.81 percent, with points decreasing to 0.42 from 0.43 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate remained unchanged from last week.
The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $453,100) decreased to 4.68 percent from 4.73 percent, with points decreasing to 0.28 from 0.29 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.
The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 4.82 percent from 4.77 percent, with points increasing to 0.69 from 0.68 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.
The average contract interest rate for 15-year fixed-rate mortgages decreased to 4.25 percent from 4.27 percent, with points decreasing to 0.47 from 0.52 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.
The average contract interest rate for 5/1 ARMs decreased to 4.00 percent from 4.06 percent, with points increasing to 0.52 from 0.48 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.