WASHINGTON MORTGAGE BANKERS ASSOCIATION
WMBA Presidents Message
Hello WMBA Members,
I would like to start off this month’s message with a thank you to our members!
WMBA is for everyone; loan officers, leaders, processors, underwriters, vendors, etc. I would love to see all of you. Attending our dinner meetings and listening to the speakers is one of the best, easiest and most affordable investments you can make in advancing your knowledge and perhaps your career. Plus, WMBA has a well-represented lobbyist, Jessica Fortescue, representing us in Olympia. Here are some wild statistics: the realtor associations have 6 lobbyists and the home builders have 4. As I mentioned, we have one! We have 862 members in our political action committee and the realtors have 21,000 members. We need your help to get more people involved to support our industry.
We are in the midst of one of the toughest times and we need to be a unified voice. In the past few weeks, I have heard many possible changes that could affect our ability to earn a living and support our families. Some of the proposed changes are;
- Loan officer compensation changes – A letter has been drafted and sent to Mick Mulvaney acting director of the CFPB asking for changes to our existing compensation rules.
- Possibility of the agencies lowering county loan limits.
- Take away cash out.
- Take away 2nd home financing in the agencies.
Do you want to have input on these changes and the others that could come? Please be involved. These are some of the ways to do so;
- Shout from the rooftops and spread the word that the WMBA is here to support all of us in the industry. We need your voice to help protect our futures.
- Bring a friend and show your support of our industry by voting with your two feet and attending our monthly dinners. I will personally buy anyone a drink who brings someone new to our monthly dinners.
- Attend the November dinner and support the loan officers on the panel. Come and get your tool box filled with tips, tricks and ideas.
Lastly, I would like to thank our October speakers Jessica Fortescue and Troy Thiel with Windermere Real Estate. Jessica and Troy did an amazing job delivering an update from our legislative front and discussing affordable housing in our market. Troy did an amazing job of explaining and updating us on the Condo market and how our market is so effected by the lack of this new Condo housing inventory and the lack of affordable housing that effects the ability for many to obtain the dream of homeownership.
Please share with your mortgage friends and peers, so we can be a united front and protect our industry. I am asking that we all become ambassodors.
As your President of the WMBA, I am here to support you. Please call me with any questions on how you can be involved and also let me know your thoughts and ideas.
I look forward to seeing you on November 13th.