Your window to the latest mortgage news!
Weekly Newsletter
Wednesday, February 10th, 2016
In This Issue
  1. Presidents' Day
  2. CFPB
  3. More CFPB
  4. Subprime Lending
  5. NAMB Webinar
  6. Mortgage Lobbying Events
  7. Upcoming Events

Presidents' Day
We are into our second week of February and the year just seems like it is passing us so quickly.  Rates are good, business is good, and inventory seems to be getting a little better.  This weekend, many of us will celebrate two things - Valentine's Day and Presidents' Day.  Although George Washington's birthday is celebrated on February 22nd, it is observed as a federal holiday on the third Monday of February.  To complicate matters, Washington was actually born on February 11th in 1731!  How can that be?  During Washington's lifetime, people in Great Britain and America switched from the Julian to the Gregorian calendar (something most of Europe had done in 1582).  As a result of this calendar reform, people born before 1752 were told to add 11 days to their birth dates.  Those born between January 1st and March 25th, as Washington was, also had to add one year to be in sync with the new calendar.  By the time Washington became President in 1789, he celebrated his birthday on February 22nd and listed his year of birth as 1732.

Today, the Consumer Finance Protection Bureau (CFPB) published a notice in the Federal Register to correct a typo regarding tolerances for property taxes and certain other property-related costs that was found in the "Supplementary Information" to the TILA-RESPA Integrated Disclosure ruleLearn more here.

The CFPB is coming out with a " Know Before You Owe Mortgage Disclosure Rule - Construction Lending Outlook Live Webinar" on Tuesday, March 1st at 11:00am.  "This webinar will address questions that the Consumer Financial Protection Bureau has received relating to the rule in the context of construction lending.  Additional information and resources related to the Know Before You Owe Mortgage Disclosure Rule may be accessed at the CFPB's website here."

Subprime Lending
I've been hearing that subprime lending is coming back.  I even saw that one lender is bringing back bank statement loans.  Are we really going back to subprime lending?  Here is an article I came across that may be of interest to you.

NAMB Webinar
Are you looking to expand your lending portfolio and would like to learn how to do renovation loans?  NAMB Plus, in conjunction with Homebridge Mortgage are hosting Exploring the Renovation Mortgage on Wednesday, February 17th, 2016 from 10:00am - 11:00am.  Find out what you need to know about renovation loans.  Space is limited so click here to register.

Mortgage Lobbying Events
Nothing is more empowering than supporting your industry and voicing your concerns in your nation's Capitol, directly to your legislators.  You have a chance to do just that!  Join us for the 2016 NAMB Legislative and Regulatory Conference taking place Saturday-Wednesday, April 9th-12th in Washington, D.C.  Last year, more than 10,000 realtors attended NAR's Lobby Day.  This year, NAMB would love to get 1,000 mortgage professionals to D.C. to help NAMB lobby on Capitol Hill.  Join NAMB as the association rallies to fight for consumers, small businesses, and mortgage professionals.  THIS IS A MEMBERS-ONLY EVENT.  Click here to register.

State Lobby Day is set for Wednesday, May 11th in Sacramento.  Click here for more information and watch the state's newsletter as new information arises!

Upcoming Events
Silicon Valley Chapter presents How to Create, Enhance, and Profit from your Online Presence on Friday, February 12th from 8:30am - 10:00am at Three Flames Restaurant, Banquet Room, 1647 Meridian Avenue, San Jose, CA.  Click here to register.

Inland Empire Chapter presents Close More Loans 2016 with DPA!  Ann Tramble FHA Direct Endorsement Underwriter from Prospect Mortgage will give you the ins and outs of down payment assistance loans on Wednesday, February 17th from 6:00pm - 9:00pm at The Old Spaghetti Factory, 11896 East Foothill Boulevard, Rancho Cucamonga, CA.  Click here to register.

Greater Sacramento Chapter presents February CAMP Mixer on February 18th from 5:00pm - 7:00pm at Ten22, 1022 2nd Street, Sacramento, CA.

San Gabriel Valley Chapter presents Probate Education Seminar on Thursday, February 18th from 8:30am - 11:30am at Citrus Valley Association of Realtors, 504 East Route 66, Glendora, CA.

San Francisco Peninsula Chapter presents How Credit Reporting Really Works on Wednesday, February 24th from 5:30pm - 7:00pm at Dominic's @ Oyster Point, 360 Oyster Point Boulevard, South San Francisco, CA.  Contat Alan Kirth at or click here to register.

North Bay Chapter presents Credit Education, Know What to Expect - New Scoring Models/DU Policies/Credit Repair on Thursday, February 25th from 11:00am - 2:00pm at Petaluma Sheraton, 745 Baywood Drive, Petaluma, CA.  Contact Chapter President Rick Reith at or click here to register.

Excellence & Integrity in Lending


Follow us on Twitter Find us on Facebook
Learn more about the CAMP PAC  Visit your CAMP Chapter Webpage
Copyright © 2015 California Association of Mortgage Professionals. All rights reserved.
Contact email:
Powered by Wild Apricot Membership Software