| Your window to the latest mortgage news! |
| Monthly Newsletter |
| Monday, March 27th, 2017 |
CFPB Updates
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Many of us have been following the PHH vs. CFPB case with interest as the outcome could have an enormous impact on the mortgage industry. The latest development came last Friday when the Department of Justice essentially switched sides, filing an Amicus Brief in support of PHH. At stake is whether the director of the CFPB can be removed by the President "at will." The next hearing is May 24, 2017 and it will be very interesting to see what happens next, considering the CFPB no longer has the support of the administration or the DOJ.
For more information, click here.
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See You in DC/Sac!
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Have you ever wondered or heard others ponder why being a member of CAMP or NAMB is important? The first reason that always pops into my mind is the work being done on behalf of the mortgage industry regarding government affairs, often just called "GA." Apart from NAMB and CAMP staff, this work is being done by volunteers in our industry - people just like you who want to ensure our legislators are making informed decisions with regard to mortgage-related matters.
This is the time of year when new bills are being introduced at both a state and federal level. At the NAMB East Conference last week, I attended a GA meeting where 25 bills that affect the mortgage industry and our consumers were discussed. From these bills, between three and six will be chosen for our "talking points" when we visit Capital Hill in Washington, D.C. this April 22-25, 2017 and in Sacramento, CA on May 10, 2017.
Here are some of the issues being considered at the federal level:
- Raising the VA Loan Limits in high cost areas (near and dear to many of us in California)
- Eliminating the use of G-Fees for offsets (so they can no longer pay for things like unemployment benefits by increasing mortgage rates)
- Re-introducing the removal of broker comp from the points and fees cap
- Transitional Licensing - Requiring ALL LO's to have the same NMLS testing (including depository banks)
- Flood Insurance Re-Authorization (it's about to expire again)
- The future of the CFPB and it's structure
And at the state level:
- Reporting requirements for BRE Licensees
- Home Inspectors
- Solar
- Management Companies
- Transfer Fees & Notices
- Real Property Disclosure Requirements
We'll keep you posted as the "talking points" are refined. We would love for you to join us in Washington, D.C. and Sacramento.
~Audrey Boissonou
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Membership Benefit of the Month
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There are many advantages to being a member of CAMP.
One of these benefits is Tactile Finance PRO.
CAMP members get a risk-free, 2-month free trial, no credit card
required, and then 50% off on this software that is designed to increase
customer satisfaction and referrals, and is highly shareable.Learn more here.
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Upcoming Events
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THIS WEEK: North Bay CAMP will be hosting an NMLS Continuing Education Class with David Luna on March 28th at 8:30am at the Petaluma Community Center (320 North McDowell Blvd., Petaluma, CA 94954). Breakfast, lunch, drinks, and snacks provided. Please contact Rick at rickreith@dryden-capital.com or 415.740.8834 for more information.
THIS WEEK: East Bay CAMP will be hosting an NMLS 8-Hour Class on March 29th with Dave Luna of Mortgage Educators and Compliance. Get your NMLS Continuing Education out of the way early this year and enjoy a discounted price! It's $89 for CAMP members ($119 for non-members). This class will be held at ARCH Mi in Walnut Creek, CA. Please contact Audrey for more information at (925) 788-1351 or loansbyaudrey@msn.com.
Central Valley CAMP is hosting The Spring Housing Expo at the Fort, Thursday, April 20th from 2:00pm to 6:00pm at Fort Washington Country Club in Fresno, CA. Admission is free. Exhibitor booths, seminars, hors d'ouvres, raffle prizes, and no-host bar. For more information, please contact Constance at 559.347.8000.
NAMB presents 2017 Legislative and Regulatory Conference from April 21st - April 25th at the J.W. Marriott in Washington, D.C. Click here for more information.
 CAMP presents the 2017 State Lobby Day on May 10th at the Elk's Tower and the California State Capitol from 8:30am - 5:00pm. Click here for more information.
Greater Ventura CAMP presents
CAMP Thousand Oaks Lender's Fair on Thursday, May 18th from 12:00pm -
3:00pm at The Thousand Oaks Inn (75 W. Thousand Oaks Blvd., Thousand
Oaks, CA 92360). Loan originators get with for a business card,
otherwise it is only $10 to enter! Please contact Michael for more
information at michael@teamoconnor.com or 805.409.0554.
CAMP presents Summer CAMP 2017: Destination Coronado at the Coronado Island Marriott from August 7th - August 8th. CAMP members can attend for $179 and non-members for $219, if signed up by June 16th. Click here for more information.
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