July 2007 - Interest Notes
In this isse:Year in review: Character and reputation define
50th year
By: Jim Lewis
Chairman of the Board
Last August at Convention I set forth two themes that have defined CMLA for many years and that I believed would define the year that was then ahead of us: character and reputation.
This year has given us many opportunities to define our association and ourselves as businesspeople through character and reputation. The way in which our Board and Staff have anticipated and responded to the changing landscape of our business has inspired me every day. As my term as Chairman of the Board comes to a close and as I look back on the accomplishments of our Board and Staff, I feel both proud and honored. Proud that CMLA remains committed to our cause – that of an organization dedicated to a world of homeownership achieved through integrity based lending – no matter what. Proud that we helped mortgage bankers, mortgage brokers, industry service providers, and consumers navigate the tumultuous and quickly changing nature of our industry. And honored that I have been part of a leadership team that has continued to make good on our commitment to upholding our promise to you to deliver exceptional value in the areas of education, representation, and networking.
Now it’s time to review - and to celebrate - the accomplishments of the 2006-2007 Board of Directors and staff – and to share how we have served the needs of you, our members and friends.
EDUCATION
Goals:
1. To have educational programs that foster excellence among participants in the mortgage lending industry.
2. To be an advocate helping consumers make informed decisions to facilitate a positive borrowing experience.
Achievements:
- CML Program courses offered through the Community College of Aurora August 2006 through May 2007.
- Twice presented to Aurora Board of Realtors regarding sales summit and doing business with a CML.
- Participated in presenting two courses at the Housing Colorado Now conference in Vail (Foreclosures, mortgage products)
- Colorado Campus MBA – approximately 29 students participated
- Developed the CML brochures for CML designees.
- Presented Young Society education (mortgage and credit education) at three Denver Public School high schools.
- Participated in the Colorado Foreclosure Hotline Task Force.
- Participated in Credit Reporting Education seminar at the Aurora Housing Fair August 2006.
- Continued role as a resource for the Attorney General’s office as well as the statewide Better Business Bureaus regarding education and receiving complaints regarding lending practices.
- Over 1,100 mortgage industry professionals participated in CMLA educational opportunities from August 2006 through June 2007.
- 301 mortgage industry professionals are active with their CML Designation through June 2007.
- The CMLA Helpline has received approximately 2,435 calls since its inception in August 2003.
Statewide Mortgage Education Training:
September 20: Creative Mortgages, Denver
October 11: Sales Summit II: Strategic Partnerships, Denver
November 7: Achieving Accurate Appraisals, Denver
November 17: Southern Colo. Affordable Housing Resources, Co. Springs
December 19: Stated Income Loans Seminar, Denver
January 17: Mergers and Acquisitions, Denver
February 6: ‘Chart your success’ sales program, Colorado Springs
February 7: ‘Chart your success’ sales program, Grand Junction
February 8: ‘Chart your success’ sales program, Fort Collins
March 13: ‘RESPA and real estate contract updates’, Denver
March 22: Project Approval: Getting beyond the basics, Denver
April 13: Sales Summit III: “Reinventing your mindset” with Tom Ward
May 8: Northern Colorado Affordable Housing Resources, Fort Collins
REPRESENTATION
Goals:
1. To be committed to free enterprise and proactive in promoting the interests of our membership to the legislature, agencies, general public, media and affiliated associations.
2. To be effective in analyzing the details and communicating the impact of relevant issues, regulations, and events to our members and affiliated industry partners.
Achievements:
- Jay Wilson, Former Chairman, CML, represented CMLA on the Colorado Division of Housing “Blue Ribbon Panel.”
- Established the Democrat Caucus led by Tom Kimball and the Republican Caucus led by Dan Harder. Initial meeting for both groups was held in October 2006.
- Created a CMLA 2006 Candidate Questionnaire that was distributed to all seeking office in the Colorado State General Assembly prior to the November 2006 election.
- Twice presented to the Colorado Association of Certified Closers regarding HB06-1661, mortgage broker registration.
- Participated in the City & County of Denver Foreclosure Task Force.
- Participated in Colorado Public Trustees Association meeting with presentation on foreclosures.
- Participated in panel discussion for the Pikes Peak Women’s Council of Realtors.
- CMLA Board of Directors voted to support the Colorado Foreclosure Hotline (managed by Brothers Redevelopment, Inc.). Brochures for the hotline along with PSAs began running throughout Colorado with CMLA represented in the materials.
- Colorado Division of Housing Director Kathi Williams received the 2006 Robert G. Boucher Award.
- Julie Piepho introduced the Future Mortgage Leaders of Colorado Program. Eight applicants were accepted into this elite program that will begin in August 2007.
- Eight CMLA leaders represented CMLA at MBA’s National Policy Conference in April where they met with members and/or staff of all nine Colorado Congressional delegation. In total, 13 individuals from CMLA member companies represented CMLA in Washington, D.C.
- Chris Holbert, aided by CMLA lobbyists Fran Coleman & Lauri Clapp, maintained communication and extensive lobbying efforts with our Congressional delegation and our state legislators during the 2007 General Session. Several key changes to the bills they were instrumental in are as follows:
- Secured a temporary license provision for mortgage brokers in SB203, which will allow licensed mortgage brokers to hire salespeople while waiting for the CBI/FBI background check.
- Removed the fiduciary standard proposed in HB1322 and replaced it with the standard of “good faith and fair dealing” based on that found in SB216.
- Severed an amendment to SB85 that sought to require lenders to successfully provide foreclosure notice to an HOA, even if the HOA had failed to keep its current address up-to-date with the county clerk and recorder.
- Supported significant change to SB249 (Settlement Services), which establishes a study of settlement service issues and a report back to the legislature.
- Secured an exemption for reverse mortgages in SB216.
- Conducted meetings with senior leadership of the Colorado Association of Realtors, Colorado Bankers Association, Colorado Association of Mortgage Brokers and Land Title Association of Colorado.
- Representatives of CMLA participated in a bill-signing ceremony June 1 during which Gov. Bill Ritter signed into law a package of five bills to combat mortgage fraud and reduce future foreclosures in Colorado.
- CMLA produced a complete compilation of Legislative and Regulatory updates that transpired during the 2007 Colorado General Session.
- CMLA produced a comprehensive list of Frequently Asked Questions for loan originator licensing requirements.
- Communicated with Governor Ritter and Executive branch of State government regarding concerns about legislation passed in during the 2007 legislative session.
Media exposure:
2006
July 24 - “It’s Your Loan: Know the Key Players” - The Showcase
Sept. 11 - Executive Board and award winners list - National Mortgage News
Sept. 17 - Foreclosure series – The Denver Post
September 23 - ‘RESPA Review’ ad in Sept./Oct. issue of Colorado Realtor
October 1 - Habitat home build featured Scotsman Guide
October 9 - Stacey Harding/Lifetime Mastery Achievement Award - National Mortgage News
October 19 - ‘Crackdown on mortgage ads’ – The Denver Post
October 26 - ‘Study disputes home crisis’ - Rocky Mountain News
October 30 - ‘Colorado AG targets ads’ National Mortgage News
November 3-9 - ‘Experts cite many reasons for rise in foreclosure rate’ - Denver Business Jnl.
November 10 - Chris Holbert featured on KMGH Channel 7 segment regarding foreclosure perspective
November 11 - Northern Chapter meeting notice- Fort Collins Coloradoan
November 24-30 - Denver Business Journal article on foreclosure reporting
November 27 - ‘Mortgage help lines to the rescue’ and coverage of southern chapter luncheon - The Showcase
December 5 - ‘Denver area foreclosures set a record’ Rocky Mountain News
December 7 - ‘GarCo foreclosure rate declines’ - Glenwood Springs Post-Independent
December 8-14 - “Lawmakers take a look at foreclosures’ Denver Business Journal
December 15-21 - ‘Brokers slip through state registration loophole’ Denver Business Journal
2007
January 2 - ‘Policing, new laws need to halt crisis’ - Denver Post
January 3 - ‘Record foreclosures’ - Rocky Mountain News
January 3 - ‘Meeting today targets foreclosures’ - Denver Post
January 4 - ‘Lawmakers seek foreclosure remedies’ - Rocky Mountain News
January 5 - ‘State to tackle lending fraud’- Denver Post
January 9 - ‘Bill targets appraisal, mortgage fraud’- Rocky Mountain News
January 9 - ‘Appraisal fraud targeted’- Denver Post
January 18 - ‘Mortgage broker law already bars 10 people’- Rocky Mountain News
January 22 - ‘Where to turn when neutral information is needed regarding a mortgage transaction’ - The Showcase, Homes and Land magazine
January 23 - RESPA ad in CAR bi-monthly magazine
February 20 - ‘Zero-down lenders folding’- Denver Post
February 20 - CMLA hosts ‘Mortgage Line 9’ at KUSA channel 9 studio
February 23-Mar.1 - ‘Colo. foreclosures: The buck stops where?’- Denver Business Journal
February 27 - ‘2 bills target home loans’- Denver Post
February 28 - ‘Foreclosure follies’ (Editorial/Opinion) - Rocky Mountain News
March 8 - ‘FBI: State hotbed for mortgage fraud cases’ - Rocky Mountain News
March 8 - ‘Loan problems surface early’ - Rocky Mountain News
March 12 - CMLA Southern Chapter luncheon - The Showcase
March 13 - ‘Subprime lending under microscope’ - Rocky Mountain News
March 20 - ‘Senate panel passes bill for mortgage broker license’- Denver Post
March 26 - ‘Overfixing forelcosures’ - The Showcase
April 9 - ‘Southern chapter luncheon’ - The Showcase
May 24 - ‘Mortgage brokers: friends or foes?’ - Wall Street Journal
May 29 - ‘Is your mortgage broker really in your corner?’ - Rocky Mountain News
May 30 - Interview with Jay Garten - Channel 5/31, Colorado Springs
June 1 - ‘Mortgage broker not always a borrower’s ally’ - Colorado Springs Gazette
June 1 - ‘Tightening up: foreclosures lead to better practices’- Home Builder magazine
June 1 - ‘Closing foreclosure door’ - The Denver Business Journal
June 11 - ‘CMLA May luncheon’ - The Showcase
June 11 - ‘Colo. package fights fraud’ - National Mortgage News
May/June - ‘RESPA Review’ ad in Colorado Realtor Magazine
June 22 – July 5 - ‘Industry between softer market, harder rules’
‘Subprime loans: A failure to communicate fully’ - Northern Colo. Business Report
July 3 - Julie Piepho elected the MBA’s State & Local Advisory Council
July 10 - Julie Piepho presents legislative update to Houston MBA group
NETWORKING
Goals:
1.To have gatherings that graciously encourages fellowship, healthy competition, sharing ideas and the creation of opportunity.
2. To be generous as a professional community helping people in need.
Achievements:
• 33rd Annual Convention / Vail, Colorado, August 8-11, 2006.
• Lending Fairs
October 6, 2006 - Northern Colorado Lending Fair, Budweiser Events Center, Loveland. 30 exhibitors, approximately 200 attendees.
January 5, 2007 – Wholesale Lending Fair, Hyatt Denver Tech Center & Marriott DTC. 189 exhibitors. Approximately 2,500 attendees.
May 11, 2007 – Southern Mortgage Lending Fair, DoubleTree Hotel, Colorado Springs. 36 exhibitors, approximately 300 attendees.
• Denver area Luncheons
September: Mike Coffman, State Treasurer
October: Tucker Hart Adams, chief economist, USBank
November: Todd Duncan, The Duncan Group
February: Evan Goulding and Chris Holbert
March: Motivational humorist Karyn-Ruth White
April: Former Congressman Scott McInnis
May: Jan Zavislan, Deputy Attorney General/Consumer Protection
Southern Chapter:
September: Holly Williams, El Paso County Public Trustee
October: John Cassiani, Banning Lewis Ranch
November: Dr. Fred Crowley
January: Mike Kazmierski, Colo. Springs Economic Development Council
February: Stated Income Loans/Greg Grandchamp
March: Tony Hernandez, Fannie Mae
April: Chris Holbert, President, CMLA
May: Erin Toll, Director of the Colorado Division of Real Estate
Northern Chapter:
November: Angela Dazlich, Larimer County Public Trustee
January: Stated Income Loans Seminar
March: Northern Colorado Economic update
May: Mike Rinner and Paul Montana, The Genesis Group
Western Chapter:
September: Dan McMahon, CHFA & Teresa Bardwell, Rural Development
December: Bob Slade, Garfield County Public Trustee
April: Kay Cleland, National City Mortgage
Golf Tournaments
May 21 – Southern tournament at Gleneagle Golf Club in Colorado Springs. A portion of the proceeds benefited the Foreclosure Hotline.
June 18 – 12th Annual Mick Iverson Golf Classic at Pinehurst County Club. A portion of the proceeds benefited the Foreclosure Hotline.
Holiday Gathering
December 14 – Annual Denver Holiday Gathering. A portion of the proceeds benefited the Foreclosure Hotline.
Ski Train
March 23 – 2nd Annual ski train day-trip to Winter Park
On behalf of our 340 member companies and the 6,000 people we represent involved in real estate sales and finance in Colorado, I thank you for the opportunity to serve you and to continue to represent CMLA as THE reputable and reliable voice of mortgage lending in the state of Colorado. It has been an inspiration and a privilege to lead such a fine group of people who have given so much of their time and talents to furthering our commitment to the cause of homeownership in Colorado and to giving back to the industry so generously through their time and efforts.
