Wisconsin Mortgage Bankers Association.... We are...A state association of firms engaged in or associated with the business of originating commercial and residential real estate mortgage loans and the selling and administering of such loans for institutional investors.  The association objectives include professional programs of continued education for its members, the encouragement of sound industry related legislation, and the promotion of the public’s understanding of the industry.

News

»11-12-08 MBA Responses to New RESPA Act It will have a 60-day implementation period and firms will have until January 1, 2010 to incorporate the new GFE and HUD-1 forms.  HUD Release on RESPA Reform New HUD-1 New GFE MBA Reaction to Final RESPA Rule MBA Key Points in RESPA Rule »11-11-08 FHFA Conforming Loan Limits Archived News Items Updated HOPE NOW              (can be found on the Residential Production page) »BANKRATE.COM - For the latest in interest rates and financial industry news      »WMBA Residential Production Page  »Mortgage Bankers Association - Wisconsin Mortgage Industry Fact Sheet »Mortgage Fraud Blog »Mortgage Bankers Association -Industry News and Economic Research and Forecasts »Mortgage Bankers Association -1st Quarter Delinquency/Foreclosure Press Release

Holiday Scam Alert

Don’t Get Scammed For Thanksgiving – A Consumer Alert Bankers Warn of Potential Scam Timed to Coincide with this Holiday Season  MADISON – Wisconsin consumers need to be prepared for the possibility of a phone scam targeting the upcoming Thanksgiving holiday warns the Wisconsin Bankers Association (WBA). A similar fraud was perpetrated on Manitowoc County residents over the 2007 Thanksgiving holiday and potentially could victimize other Wisconsin residents. The same type of scam occurred recently in Northeastern Wisconsin.  The phone scam in Manitowoc County, carefully timed to coincide with Thanksgiving Day, informed people that their bank account was frozen and provided a toll-free-number to have it reinstated if the customer could verify their personal information. Timed to occur when banks were closed and just before the biggest shopping day of the year, the criminals dialed 40,000 area residents and got 20,000 people to answer the phone.  WBA believes such a scam could again target consumers on the upcoming Thanksgiving holiday.  An educated, cautious consumer is the number one defense against any scam. When consumers receive phone calls or e-mails from agencies claiming to be a financial institution and requesting verification of their personal information, consumers should protect themselves by following these steps:  Stop. Do not respond immediately. Think. Why would my bank need this information? Call. The number on your bank statement or in the phone book.  “No bank or legitimate business will request a customer to verify personal information such as PINs, bank account numbers or Social Security numbers over the phone,” explained Eric Skrum, WBA’s communications director. “Unless you initiate the contact, you should never give this information out.”  Personal information that you should never release in a conversation not initiated by you includes:  Bank Account Numbers, Bank Card Numbers - Credit or Debit, Personal Identification Numbers (PINs), Social Security Numbers If the request was not legitimate, the incident should be reported to Bank Security.

Upcoming Events

Dec. 2           Milwaukee Chapter Holiday Party Mar 16-18    MBA's National Fraud Issues Conference

Licensing & Education

Wisconsin DFI Licensing & Education Requirements?  Click here

Wisconsin Mortgage Bankers Education Foundation >Click here for more information about the WMBA Education Foundation. >Click here for WMBEF 2008 Scholarship Introduction Letter >Scholarship Criteria

Consumer  Links

Having trouble paying your mortgage?  HOPE NOW may be able to help.   Call Hope's homeowner hotline at 888-995-HOPE The WMBA has joined with the Wisconsin Bankers Association, Wisconsin Realtors® Association, the Wisconsin Mortgage Brokers Association and the Wisconsin Land Title Association to produce a brochure aimed at helping prospective borrowers identify and avoid predatory lending practices and lenders. Click here  to download free PDF Wisconsin Mortgage Bankers Association--- Our Purpose... WMBA is organized and operated as a trade association to provide cooperative action in advancing the common interests of persons primarily engaged in the business of origination, servicing or selling real estate mortgage loans through any lawful means consistent within its nonprofit character, including, without limitation by reason of enumeration, to sponsor and promote understanding by the general public and governmental instrumentalities concerning such business, to formulate and maintain ethical standards for the guidance of its member in their relations with each other and the public, and to promote and to encourage the enactment of just and reasonable laws affecting such business.