by admin admin | Dec 26, 2022 | President's Message (Archived)
As I drove home this evening from our 2019/2020 kick off dinner meeting reflecting on the plans, energy and excitement that was created, I must say I’m so proud to be a Mortgage Banker and have the ability to change people’s lives and be able to help them with the dream of home ownership. I also feel very honored and blessed to be asked to serve this great organization not only last year as the 100th President of the Washington Mortgage Bankers Association, but to be asked to come back and serve again as President of this organization as we commence the next 100 years. Thank you for your vote of confidence in me and my abilities to lead this amazing organization that I hope reflects the voice of our members, community and industry.
As we change in to the Fall season, send kids back to school, and wind down 2019, we also are seeing a lot of very important mortgage topics in the press. The current administration addressed GSE Reform on the 2nd day in office. Since that day we have seen the change of Executive Leadership in the every housing- related agency that effect the way we are able to lend money and help fulfill our customers dreams of Homeownership:
- FHA
- HUD
- GNMA
- CFPB
- Freddie MAC
- FHFA
At the recent Pacific NW Lenders conference we heard from MBA, Fannie Mae, Freddie Mac and many Executives from our industry. Below are a few items that were shared as speculation of what’s ahead for our industry.
- The QM Patch that implemented with Dodd Frank expires in January of 2021; there is concern that it will expire without resolution. Potential impact includes the possibility that 35% of all originations (per the National MBA) do not meet QM guidelines 43% ratio). (Brian Stevens with the National Real Estate post shared 52%) of find. The implication is that 30 % of loans we made since Dodd Frank/QM wouldn’t be made without private equity investors entering the market to replace the GSEs.
- Fannie Mae, Freddie Mac and GNMA all are in competition for the same buyers and FHA is being adversely selected for the low end buyers.
- One of the solutions I heard is FHA will limited to first time homebuyer only (and can only be used once. No 2nd and 3rd purchases.)
- Fannie and Freddie would be limited to
- 10% down payment
- Fannie and Freddie may be only for Owner Occupied – This is only Speculation
- Cashout and 2nd home and Non Owner may need to be picked up by Private equity marketplace
With all this said, it is so important to be involved! I would like to start by saying thank you and recognizing all of you and to all of our members who voted with their two feet and showed up for last Tuesday’s Dinner meeting at Overlake. We had a great evening kicking off our 101st year and a well-attended Loan Officer Panel; 4 amazing Loan Originators who shared their knowledge, wisdom, tips and tricks. I think everyone in attendance walked away with at least two or three ideas they could implement in their own business.
Special thank you to our 4 briliant loan officer panelists: Stephanie Maulding, Michelle Bruto Da Costa, Daniel Mery, Carese Busby and our masterful moderator David Hatlen.
Please take the time to REGISTER NOW for our exciting meeting in October. After the huge success at last year’s Pacific NW Lenders conference day two – Women in Mortgage Leadership – we are very excited to present a phenomenal panel of Women in Leadership. Register now because this event will sell out.
by admin admin | Dec 26, 2022 | President's Message (Archived)
To all my fellow Washington Mortgage Bankers Association Friends and Family,
I want to thank everyone who attended our January 2020 kickoff dinner with Lennox Scott, the CEO of John L Scott.
I always say we vote for our organization and industry by showing up with our two feet. The people who showed up and voted last month got to be involved in a rare opportunity that Lennox shared with us. He brought lessons and expertise from his 40 years of leadership and inspired all of our attendees to partake in a very valuable lesson on who each of us are, where we want to go, and what we need to do in 2020 to make this happen. We also learned about our fellow peers as we shared with each other. And, as always, he provided his forecast for our Real Estate market and what is ahead.
I know I learned a very valuable tip from Lennox to focus on being a strategic leader and avoid getting stuck in the weeds, as he described from his Eagle Boy Scout experience, “getting the fire started”. Thank you Lennox for all you do for our industry and for being a great partner to the Washington Mortgage Bankers Association!
Speaking of dinners, I must say I’m getting very excited for next week’s dinner meeting with Chris George. It’s been almost 3 years since I last saw Chris present at the Pacific Northwest Mortgage Lenders conference and I still remember his true passion, drive, and caring commitment for our industry.
Don’t miss this opportunity to hear from Chris on the national perspective and issues of the Mortgage Bankers Association.
Chris George is an innovator who has produced industry changing ideas; such as the Home Equity Accelerator and most recently Crowd Funding as a source of funds to close. Chris is the CEO of CMG along with being the Past Chairman of the National Mortgage Bankers Association.
Along with Chris’s presentation we will have a conversation and thoughts from a CEO’s seat; meaning Chris George and our local WMBA Chairman of the Board and CEO of Evergreen Home Loans, Donald Burton.
We are very excited to listen to these industry icons sit down and talk about current issues for our industry.
Please find Chris George’s bio below.
Registration for dinner ends Wednesday, February 12th at noon, so please register now.
Have a great day.
Robert Lipston
President, WMBA
by admin admin | Dec 26, 2022 | President's Message (Archived)
Welcome to March Washington Mortgage Bankers Association Friends and Family,
I want to thank everyone who attended our February 2020 dinner with Chris George. It was a great evening and Chris really lit up the room with his passion and knowledge of the industry. I would like to give a big shout out to Chris for his commitment to our industry and innovation that has helped us all.
Along with Chris I would also like to thank our very own Chairman of the Board Don Burton who led the question and answer session with Chris. Both of these CEO’s and Mortgage icons not only lead their organizations by example, they both give so much to the Local and National Mortgage Bankers Association so that we all benefit.
Thank you Chris and Don for your leadership and commitment.
Speaking of commitment to the Washington Mortgage Bankers Association and our industry I would also like to thank the following board members and members of our association who traveled to Olympia last Thursday to spend the afternoon with the Department of Financial Institutions and a full line up Senators and Legislators.
Thank you!
Lisa Goldsmith, Anne Marie Bachmann, Dan Rivisto, Gary Fallon, Sara Monzo, Don Burton, Andy McDonough, Liz Facemire, Randy Cowell, Teri Herman, Debbie Johnson and Jessica Fortescue.
Lobbyist Jessica Fortescue had a full agenda and important topics that we shared in our meetings. In every meeting we heard rave reviews on how Jessica is one of the most respected Lobbyist’s on the hill and on how she is considered a valuable resource for both the hill and our organization. Thank you Jessica for all your support and efforts.
I’m very excited for our March dinner being held on Saint Patrick’s day.
So don’t forget your Green!
We are hosting our annual Realtor Panel and we have 4 market leading panelists to share what is ahead in 2020 and all the tips and tricks of the Real Estate Market.
Please find our Panelists Bio’s and Registration for our March 17th Dinner at Overlake Country Club on the WMBA website: https://wa-mba.org/events/
CLICK HERE TO REGISTER
Registration for dinner ends Wednesday, March 11 th at noon.
Please don’t miss this great Panel and Event and vote with your two feet and show up for our March 17 th Dinner meeting at Overlake Country Club.
Robert Lipston
President WMBA
by admin admin | Dec 26, 2022 | President's Message (Archived)
Fellow WMBA Family,
As the world around us has slowed to a halt and our family’s safety has become the number one priority for our world, I must stop to share how truly grateful I am; for many reasons.
First, for the continued health, safety and security of our members, our member’s families, our friends and our colleagues.
Second, our industry is considered an essential work force and we remain employed, to help our customers with the American dream of home ownership and to leverage their homes as most people’s largest asset.
Third, as we navigate these unprecedented times our members have unified in so many ways to leverage the enormous wealth of knowledge, wisdom and talent to help each other make quick and fluid decisions for our members, families and for our industry.
Forth and most important, is that I would like to give an extremely loud shout out in gratitude to Jessica Fortescue, our Lobbyist, who through this ever changing, politically charged landscape, and the upheaval of our industry’s needs, has brought her years of experience, her extensive relationships, and her pure expertise to make our organization’s needs heard by our regulators, legislators, and most importantly our Governor. Please join me in thanking Jessica for your partnership and her commitment to the success of our organization, our families and our industry.
As we all work through these unprecedented times, unsettling conditions, and volatile market environment, I want to remind you that we are all one family united by our relationships and our industry. If there is something you or anyone needs I’m always a phone call away. My Cell phone is 206-650-4163.
Please be safe and know we are here to protect the health, safety and livelihood of our industry and our members.
From my family to yours, hang in there, be strong, and know we are more powerful as one united voice in solidarity and I will be here for you and so will the WMBA.
Robert Lipston
President | Washington Mortgage Bankers Association
by admin admin | Dec 26, 2022 | President's Message (Archived)
Fellow WMBA Family,
It seems that May has brought a glimmer of hope to us. As we see the wheels rolling to a slow and careful opening of our state, I know that many of us have been challenged with what the new normal will look like.
Thank you to the individual leaders and companies that have stepped up to help WMBA be the strong force that it has enjoyed for 101 years. It has been encouraging to me to see our members engage in the hopeful planning of our annual Golf Classic, to join us in our leadership meetings, to engage with their time and resources in ways that have helped the industry to be a voice in our government.
I hope that you are encouraged by the people around you as I have. We have had a lot to absorb, flex and change with, but WMBA and it’s members have been able to be in a position of strength during this time. We have a voice and alliance in our government to help us navigate this uncertain time. Be sure to learn more about Jessica our lobbyist at https://wa-mba.org/wmba-pac/
This week of May 4-8 th brings us to MAA Action Week. You will see emails and social media ads come out this week to encourage all to Join MAA and be a voice nationally for the Mortgage Bankers. You will get timely news and information on what is happening right now in the federal government that will affect you and help you to craft an action to help make a change! Please go to MAA Take Action for more information. Join MAA today .
So much has changed these last couple of months. I am thinking of all the 2020 High School graduates that did not get their senior year. WMBA has a scholarship program that is open to members with graduating high schoolers. We are now accepting applications, the deadline is June 1 st . Please take a look at more information and get the application at https://wa-mba.org/scholarships/2020-wmba-scholarship/
We have had some changes to our schedule, so please refer back often the website for more information as it unfolds. We are all looking forward to getting back out to see one another in a safe and healthy way.
Please join me in adding your voice to MAA this week.
From my family to yours,
Robert Lipston
President | Washington Mortgage Bankers Association
by admin admin | Dec 26, 2022 | President's Message (Archived)
Fellow WMBA Family,
Can you believe it is already June? With June full speed ahead we are operating differently. June usually brings a lot of excitement with the end of school, prom, graduations and the start of summer. This year that is all different, but with that said, it is with greathope with our Governor’s new Washington county phased re-opening plan in full force It has brought with it the hope and security of new things to come.
We have a new way of doing things; new experiences in virtual meetings, new work from home experiences, new rules of social distancing and new compassion for a hurting world.
It is with a heavy heart that I acknowledge the unrest and inequality protests that we are seeing up close and personal. I am proud to be part of an organization that has a purposeful process and program of inclusion. MBA has been long aware of social injustice and has taken aim for many years through MBA Diversity and Inclusion.
“Diversity and Inclusion give way to two other words, ‘deliberate and intentional.’ Diversity isn’t accidental and being inclusive should be purposeful. It’s something you focus on. Now, first of all, it’s the right thing to do – there’s no question about that. But beyond the right thing to do, it’s good for business. And it’s good for homeownership.” – Christopher M. George, 2018 MBA Chairman-Elect and Diversity Committee Chairman Founder, President and CEO, CMG Financial
May brought us MAA Action Month and it was with great pride that I saw our members step up and let their voices be heard. You have had many emails filling your inbox, but you have reacted, signed-up, wrote letters, and participated where it counts! The most powerful tool you have is your voice and so many of our members enrolled to use your voice. Thank you!
Although we enter our summer months we as an organization wanted to continue to give back. Please find some WMBA events ahead:
Upcoming events:
Coming up on June 16 th we have a virtual seminar on e-signing that is available for free. We are truly lucky to of assembled a great group of subject matter experts for this event.
Then on July 1 st you will have an opportunity to hear from our industry and WMBA friends Sen. Mark Mullet and Rep. Andrew Barkis , moderated by our Lobbyist Jessica Fortescue. Please see our events page for more information and registration links.
We have changed the date for the WMBA Golf Tournament. It will now be held September 9 th .
In closing, I want to say what a great privilege it has been these past two years as your President. WMBA has made me very proud to partner with such dedicated and service minded individuals and to be a part of a significant voice in our industry.
Thank you for stepping up in a time of crisis and uncertainty and making a difference.
All my best, Robert
