Feb. 2021 – Lisa Goldsmith

by admin admin | Dec 26, 2022 | President's Message (Archived)

Dear WMBA Members,

January was a powerful month (emphasis on FULL), wasn’t it?!? We had the opportunity to both reflect on 2020 and consider how it informs our 2021 plans.

John Mitchell provided his annual forecast in the framework of Apollo’s Arrow (an invisible force that pushes us apart). He educated the more erudite amongst us in monetary and fiscal policy. There are so many more variations given the pandemic, the vaccine, and our economic condition. The recovery is underway, but the trajectory is uncertain.

Our CEO panel was expertly moderated by our very own legendary leader, and Chairman of the WMBA Board, Rose Marie David. And she masterfully guided the CEOs through big issues that are confronting them, diversity, affordable housing, post-election/post pandemic economy. What I found most exciting was how they coalesced around the possibility that their collaborative leadership could strengthen our industry going forward.

Lennox Scott rounded out the month with his annual real estate forecast. He introduce the “Sales Activity Intensity™” meter. You will probably see it soon in real estate listings. He forecasts that on a scale of slow to frenzy, our region will have cyclone activity in 2021.

If you missed these events, I’m sorry, but ask us about how to get a recording of the CEO panel or a link to Lennox’s forecast. And, don’t miss Steve Richman, February 16^th, “There’s no Going Back” will give you more to think about as you plan 2021.

Phew! What a month! And, we’re looking forward to seeing you at our upcoming events in March (Realtor Panel), April (Top Producing Manager Panel), May (Auction to benefit Habitat for Humanity), and July (Annual Golf Classic). All are open for registration at www.wa-mba.org/events now.

As always, It is my honor and privilege to have this virtual podium and I appreciate every one of you who have read and consider these remarks!

Lisa Goldsmith

President

Washington Mortgage Bankers Association

March 2021 – Lisa Goldsmith

by admin admin | Dec 26, 2022 | President's Message (Archived)

April 2021 – Lisa Goldsmith

by admin admin | Dec 26, 2022 | President's Message (Archived)

Dear WMBA Members,

We’ve finished the first quarter 2021, and our world continues to shift and change, and we are beginning to see the value of setting goals in 12 week increments. Is that part of your “New Normal”?

The regulatory environment has shifted around COVID, the new normal in Olympia, and the new administration in Washington D.C.

And there is so much to be mindful of as we chart our strategies.

• Refinance volume down – overall loan production shifting from $4T in 2020 to $2.5T in 2021??
• Washington State Privacy Act proposal (see below) our representatives are legislating in Olympia (48-1 in favor). Are you aware of the impact that law would have on your day-to-day production?
• U.S. Treasury tightens standards on investment properties led to Fannie Mae 7% cap. “The GSEs will limit the acquisition of single-family mortgage loans with multiple higher risk characteristics at their current levels” Do you see the risk that they see?
• Servicing regulation and oversight. CFPB issued a warning to loan servicers. Are you prepared to respond?

As you assess your Q1 results, consider where the Washington MBA fits into your plans. One Voice. One Vision. See the highest possible outcome that you can create from your seat with our resources.

• Get noticed! Find out how to become an WMBA event sponsor here
• Register for: April 20th Top Producing Managers Panel – Panelists: Jordan Flowers, Jay Crowell, and Allie Lord, moderated by Sharon Knowles
• Upcoming events; May 20^th Annual Auction to benefit WMBA and Habitat for Humanity
• Legislative agenda: We need your voice NOW – Take Action: here – Why it matters: A private right of action potentially could allow consumers the ability to file lawsuits based on unsubstantiated claims of data privacy violations. This would lead to an increase in legal fees and raise the cost of lending in the state.

We appreciate your membership, your support, and your contribution and are here to support you with the strength of our unified resources.

As always, It is my honor and privilege to have this virtual podium and I appreciate every one of you who have read and considered these remarks!

Lisa Goldsmith

President

Washington Mortgage Bankers Association

May 2021 – Lisa Goldsmith

by admin admin | Dec 26, 2022 | President's Message (Archived)

Dear WMBA Members,

What do you see on the horizon and how does it look compared to your rear view mirror? The new administration in Washington continues to shift and the MBA continues to advocate for our industry. And our individual voices have more power together. That is the reason with have the WMBA, right? And, it is the reason that we are affiliate members of the MBA.

May is the Mortgage Action Alliance MAA membership drive. If you are not already a Member of MAA, it is EXTREMELY important to sign up. Check the news at MBA.org. We need your voice as we manage at the local, state, and national level. Follow this link to register. If you think you’re registered, please register again, as membership expires annually.

Join our up-coming events:

• Get noticed! Find out how to become an WMBA event sponsor here
• The WMBA Auction – Home is Where the Heart is – is everything you would expect in our virtual environment PLUS more fun than your usual evening entertainment! Auction Registration if link is not working use URL: http://wa-mba.maestroweb.com/
• Register and watch online, and watch in the comfort of your own space, on your smart TV.
• Charcuterie boards and cocktails-in-a-box available to order when you register (must be ordered by May 11^th).
• VIP cocktail presentation warm up act hosted by Rainier Title and our celebrity cocktail chef, Michael Abrahamson.
• 2021 WMBA Golf Classic, July 14^th
• If you missed our CEO Panel in January, you can register to watch the recording here.

We appreciate your membership, your support, and your contribution and are here to support you with the strength of our unified resources.

As always, It is my honor and privilege to have this virtual podium and I appreciate every one of you who have read and considered these remarks!

Thank you,

Lisa Goldsmith

President

Washington Mortgage Bankers Association

June 2021 – Lisa Goldsmith

by admin admin | Dec 26, 2022 | President's Message (Archived)

Dear WMBA Members,

As the warmth of summer inches ever closer…I am beginning to wrap up the responsibilities as your 2020-2021 WMBA President and relax into what comes next with the extra time I will have. With your permission, I would like to share some wisdom that I’ve acquired in this time and from our membership representation for this industry.

First, and foremost our industry’s future requires us to engage our leaders and our members and re-imagine what the WMBA means to our communities and our industry. Doing what we’ve always done will get us what we’ve always gotten. We are poised to take this association to a new level and a new future. Along with a diverse new generation of buyers, borrowers, and industry participants, we have a very strong group of leaders on our board. And, we need all of you reading this letter!

The pandemic has taught us so much about who we are as people, community, and industry. Never forget that our lobbyist retainer assured the incredible privilege and good fortune of being granted Essential Workers status in 2020. We were then poised to benefit from an abundance of unplanned opportunities, unprecedented loan volume, and astronomical income levels. Our member leaders recognized the opportunities and gave back by supporting WMBA in our cashflow crunch, by supporting our lobbyist retainer expenses, by inspiring each other with generosity and support. Let’s come together to capitalize on this abundance and all the opportunities!! Did I mention that we need all of you reading this letter!?!

As I close out the year, I have announcements and appointments to share: The only constant we know in this business is change, right?!? Our board is set to make the annual transition and we are changing in ways that we would not have imagined in 2020.

Board Appointments:

• Andy McDonough has made the personal decision to resign the Vice President/Incoming President role in favor of his documentary film career. All of us are excited for Andy and appreciate him for his professional approach to this decision and for his support as we manage his replacement. (BTW don’t miss his recently debuted movie, “Super Frenchie”, featuring extreme and ambitious skier/BASE jumper, Matteus Giraud.) Please join me in thanking Andy for his service to WMBA!
• To fill the position Andy’s resignation creates, these appointments are effective this month:
• Jim DeMarco will become our Vice President, and the Incoming President for WMBA 2021-2022 (Jim comes to this role through 8 years serving the WMBA including executive leadership; and his career in mortgage banking leadership, as well as being a new daddy. Join me in congratulating Jim on the new love of his life!).
• John Smith will become our Treasurer, and the Incoming Vice President for WMBA 2021-2022 (John brings credit union mortgage banking experience, and a wealth of board work with community organizations, to our Board). Let’s congratulation John on his new role as Director of Mortgage Lending with WSECU (soon to be a new member of WMBA)!
• Tony Fernandez will become a Board Director, and the In-coming Treasurer for WMBA 2021-2022 (Tony brings his expertise as the WMBA Membership Co-Chair, and his passion for giving back and contributing to the industry).
• And, for more exciting news, Kisha Weir is joining the WMBA Board as a Director for 2021-2022 (Kisha brings her leadership and brilliant teamwork experience as the Divisional Leader for Movement Mortgage, and congratulations to Kisha for the well-deserved promotion!).
• Please join me in welcoming and supporting our leadership group!

Our Annual Auction to benefit both WMBA and Habitat for Humanity was a success on many levels

• The virtual auction went off so successfully, it was almost a miracle…thanks to Mindy Aragon, who has been the glue and the strength of WMBA in 2020-2021!
• The income/expenses are balanced, the bidders have received their winnings, our beneficiary has been paid.
• This year we raised $28000 for Habitat and $19000 for WMBA
• We have committed to a partnership with Habitat and for annual auctions year-over-year going forward

Please don’t miss the upcoming Golf Classic, foursome registration is open! Joinoin us in the sun at the 2021 WMBA Golf Classic, July 14^th !

We appreciate your membership, your support, and your contribution and are here to support you with the strength of our unified resources.

It is my honor and privilege to have this virtual podium and I appreciate every one of you who have read and considered these months of emails, announcements, and remarks!

Looking forward to seeing you all in-person soon!!

Thank you,

Lisa Goldsmith

President

Washington Mortgage Bankers Association

Oct. 2021 – Jim DeMarco

by admin admin | Dec 26, 2022 | President's Message (Archived)

Greetings Friends and Colleagues,

I hope this message finds you and your families well. As we head down the final stretch of 2021, the WMBA is excited to continue another year of providing our members with engaging, informative, and valuable events. For those who attended last month’s Pacific Northwest Lenders Conference, it was a great success, and many thanks to those who put in the time and work to organize. I’d be remiss if I didn’t mention Robert Lipston, Rose Marie David, and Mike Olden for their specific contributions! Thanks again!

I’m honored to be this year’s WMBA President and want to first acknowledge the many volunteers that make up our association’s Board and Committees, especially to last year’s President, Lisa Goldsmith. Lisa helped us navigate and adapt to the unprecedented times which included a shift from our traditional, in-person meetings to a virtual environment. At her leadership, we held some amazing events and at the same time, secured some very generous contributions from sponsors that enabled us to maintain our annual budget. I know can speak on behalf of our entire Board and membership when I say Lisa’s leadership, commitment, and vision were – and are – instrumental in our ability to stay on track with our goals. We extend our gratitude for her commitment to the WMBA.

As I look to continue Lisa’s efforts, I’m excited to work with this year’s Executive Team made up of John Smith as our VP, Tony Fernandez as Treasurer, and Jeanne Sprague as our Secretary. Along with our Board and Committees, we are committed to providing you – our members – meaningful events for what we believe are 3 of the WMBA’s primary objectives: Education, Inspiration, and Legislation. To achieve these goals we provide regular events focused on an educational theme designed to help inspire you and your business to learn, grow and adapt to our continued, evolving industry. We hand-pick speakers and panelists that will add value to you, both personally and professionally.

From a legislative standpoint, our organization invests in our future by securing a lobbyist in Olympia working directly on your behalf to ensure our collective interests are maintained. When we say invest, we mean it both literally and figuratively! Jessica Fortescue has been the WMBA’s paid lobbyist for many years now working directly with our local and state legislators, building working relationships with these key decision-makers, and reporting back to us on the critical legislation that might otherwise slip through the cracks. You may recall last year when the “stay-at-home” orders were handed down, Jessica (and the WMBA) played an instrumental and critical role to ensure our industry was considered “essential.” This effectively allowed all of us to continue our work and ensured our livelihoods were maintained during the pandemic. I think it’s fair to say, this example alone is worth the investment and what your membership dues go towards funding.

Our next event held on Tuesday, Oct. 19^th will be virtual and again focused on providing you content that is educational and practical. Our “Modern Mortgage Advisors” panel will be hosted by the one and only, Dave Savage, featuring two dynamic industry panelists: Dan Keller and Addy Nett. Both have taken new and innovative approaches to their business and will share their stories. All are encouraged to sign up now on the WMBA website: https://wa-mba.org/events/modern-mortgage-advisors-clarity-content-and-tech/

Lastly, I want to champion a message left behind by another (2x!) past WMBA President, Robert Lipston. One of Robert’s core messages is always: “we have 1 voice, and 2 feet.” Our success and future in this industry are strengthened by a unified voice, but we have two feet to move forward. Please join me and the rest of the WMBA by moving forward together using your voice to share our message, and through your participation in our association events and legislative efforts. Our success counts on each and every one of you!

I look forward to another great year together!

Thank you,

Jim DeMarco

President

Washington Mortgage Bankers Association

Nov. 2021 – Jim DeMarco

by admin admin | Dec 26, 2022 | President's Message (Archived)

Greetings Friends and Colleagues,

Thanks to those that attended last month’s WMBA event featuring Dave Savage, Dan Keller and Addy Net. We appreciated these industry leaders taking time out of their busy schedules to present yet another wonderful event for our members!

As we enter the holiday season, we’re reminded to take some time to reflect on what we’re thankful for, including our health, our families, and our livelihoods. And I think we can all agree it’s been another rewarding year for those of us in the mortgage industry. We’ve been able to sustain production levels as a result of our continued, low-rate environment and strong housing demand. For those that attended the National MBA in San Diego last month, we learned there’s still plenty of optimism for the industry going forward, yet it’s tempered with an expected shift of rates moving higher, a reduced refinance demand, and continued inflation concerns.

Also on a national level, we are wrapping up our awareness drive for the MAA (Mortgage Action Alliance). This effort has been spearheaded by our very own Mike Olden. For those who haven’t signed up for this critical “call to action” membership, please do so now (for free) using the following link: https://www.mba.org/get-involved/join-maa. Doing so enables one voice when making our positions known on policies and legislative changes that impact us all directly.

Here at the State level, this month the WMBA is excited to offer another exciting, virtual event on Nov. 16^th featuring a renowned and inspirational speaker, coach, and strategic leader – Jon Cheplak. The event will focus on “Leading, Retaining, and Attracting Highly Productive Human Resources.” Special thanks to our Program’s Chair, Tonya Wortham, for continuing to secure these dynamic leaders to provide our members meaningful and relevant content that we can all benefit from in our daily lives! Register today: https://wa-mba.org/events/finish-strong-with-jon-cheplak/

Lastly, in honor of Veteran’s Day this week, all of us at the WMBA send our love, respect and appreciation to those who have served our country. We thank you for your dedication and sacrifices.

Have a happy and healthy Thanksgiving with your families and loved ones!

Thank you,

Jim DeMarco

President

Washington Mortgage Bankers Association

Feb. 2022 – Jim DeMarco

by admin admin | Dec 26, 2022 | President's Message (Archived)

Greetings WMBA Friends and Colleagues, I hope everyone’s having a great start to the new year and staying healthy and productive.

Well, we’re full steam ahead in what’s proving to be a transitional year in 2022! There are inflation concerns, rising rates, a continued housing inventory strain, and what seems to be an ever-evolving situation with the Coronavirus pandemic. On the brighter side, the economy is improving, there are signs of ‘normalcy’ returning, and rates still remain low from a historical standpoint. Change and transition are always part of life for us mortgage professionals, and we will be ready for what’s ahead.

Part of this change is trying to responsibly get back to some in-person events this year. For those who were able to attend our WMBA January kick-off party, it was great to see familiar faces. I think we all can agree, it was a well-overdue social gathering, after almost 2 years of a virtual environment. We look forward to more opportunities to host in-person events as the year progresses. Stay tuned!

Speaking of in-person events, in April the MBA will be hosting their annual State and Local Workshop in Washington, DC. The WMBA will have several representatives attending this important workshop and for those interested, more information can be found here: State and Local Workshop 2022 | Mortgage Bankers Association (mba.org).  The MBA’s National Advocacy Conference will be held the days following the workshop. Registration can be found here: National Advocacy Conference | Mortgage Bankers Association (mba.org). The Workshop brings leaders together to learn, collaborate, and share information from each other; while the Advocacy conference is focused solely on real estate finance issues. Both are expected to be valuable and informative events!

At a local level, January marked the beginning of our State’s Legislative session in Olympia. As a direct result of your WMBA membership and PAC efforts, our interests are being well-represented through the hard work of our lobbyist, Jessica Fortescue. For anyone interested in learning more about how to get involved, or to be added to our distribution list, please reach out to me, our Executive Board, or the PAC Committee. Everyone is encouraged to donate to this important aspect of our association, as your contribution goes directly to supporting key policymakers, bills, and legislation that directly impact us and our industry. More information can be found on our WMBA website https://wa-mba.org/wmba-pac/. Thanks to those who have already contributed this year!

Later this month, the WMBA is excited to be hosting a virtual Supporting Diversity discussion featuring John Drumgoole Jr. of New American Dream and Patience Malaba of the Housing Development Consortium regarding the 3×30 Project to discuss the 7-point plan to add 3 million more Black homeowners. The WMBA is excited to offer our members an event focused on the importance of homeownership diversity and continuing efforts to focus on home affordability for all communities! This will be on Thursday, February 24th at 2:30 pm. Registration can be found here.

WMBA will also partner with Habitat for Humanity and host our Annual Auction on Tuesday, May 24^th, 2022, at 5:30 pm. The location will be announced soon and we are planning a hybrid event. If you are interested in sponsorship, procurement, or volunteering on the Auction Planning Committee, email admin@wa-mba.org for more information.

From all of us at the WMBA, we appreciate everyone’s commitment and support. We look forward to continuing to offer our members meaningful, informative, and relevant content and events!

Regards,

Jim

WMBA President

April 2022 – Jim DeMarco

by admin admin | Dec 26, 2022 | President's Message (Archived)

Greetings WMBA Friends and Colleagues,

Springtime is upon us! With it brings the anticipation of another homebuying season and the collective hope of an inventory bounce. And while we’re facing headwinds of raising (rising) rates, inflation, global unrest, and continued affordability concerns, we’ve been through worse (here’s looking at you 2008!). As industry leaders, we’ll need to roll up our sleeves, go back to the basics, and get involved. In this volatile market, staying informed and engaged is key to our personal and professional success. Here at the WMBA, our dedicated volunteers continue to work tirelessly to ensure our collective interests as an industry are met through Legislative efforts, PAC contributions, and our regular Program events aimed at promoting valuable, relevant content to our members.

Speaking of events, we’re excited to announce a “return to in-person’ events. This week, we will host our Realtor Panel at the Lunchbox Laboratory in Bellevue! This awesome event features leading real estate experts ready to share their unique perspectives on the market and industry. On May 5^th, we are thrilled to be hosting our first IP Lunch, Today and Tomorrow… Seattle and Bellevue Charting Their Own Courses, at Perkins Coie Conference Center. For registration and more information, please click here.

Shifting into other WMBA efforts, this past January marked our busy Legislative Session. Our lobbyist, Jessica Fortescue, yet again, proved her value by keeping us not only informed, but petitioning for items important to the industry. Areas such as Data Privacy, Commercial Solicitation, and taxes (surcharges) aimed at financial institutions. All of these items – while they may not sound glamorous – can and will impact us in some way, especially if we don’t have representation. To learn more or to get involved, feel free to reach out to our WMBA Executive Office and sign up for our legislative updates: admin@wa-mba.org.

Along the same lines, our PAC Committee has done an amazing job of continuing to help fund these legislative efforts. We encourage everyone to contribute and – as they say – to help us put our money where our mouth is! https://wa-mba.org/wmba-pac/

Looking ahead, we have our exciting WMBA Auction this May and as always, Golf Tournament in July! Registration is open for the Auction and keep an eye out for golf. Both of these are sell-out events and critical to our association’s success. We appreciate your support and please consider donating or getting involved today!

Lastly, I’d like to send a shout-out to all of those who volunteer and show up for the WMBA. We have busy schedules and other priorities, but this storied association holds a special place in the mortgage community, and it goes in our business, “it takes a village.” Special note to our Program’s Committee Chair, Tonja, for stepping up this year in this new role and helping to bring us our awesome events!

We’ve had a challenging two years of being in a virtual environment, but as move back towards “normalcy”, we’ll need to rely on volunteers to continue our important efforts. Starting next year, in September, we plan on bringing back all of our regular, in-person events including our Past Presidents night. For ways to get involved, please feel free to reach out to me directly, or any Board Member, and we’d love to learn more about your interest and share what the WMBA means to us and why its success is important.

Wishing everyone a healthy Spring and look forward to seeing you at our upcoming events!

Jim