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 Celebrating
Homeownership Achieved As stated in our mission, CMLA is "an organization committed to a world of homeownership achieved through the practice of integrity-based lending." As June is National Homeownership Month, my focus is turned to celebrating that part of our mission in light of the efforts and accomplishments of our Board and staff, members and friends in promoting the American Dream of homeownership in Colorado. In adopting our new mission statement last summer, your Board chose to expand who it is we serve, as well as to improve how we serve them. The phrase "a world of homeownership" is included deliberately in our statement of purpose to remind us that we there is always more we can do to assist a broader spectrum of people desiring to own one of the most American of assets - a home. Because CMLA stands for a "world of homeownership achieved through the practice of integrity based lending" it means we have the benefit of virtually unlimited methods to express our values in the way we operate. Our big purpose provides a lot of creative tension for people in our association who want to make a meaningful contribution with their individual talents, ideas and passions for service. Following are a just a few of the important ways CMLA members are engaged in creating a world of homeownership through integrity based lending. Transformational Housing Project During the month of June, CMLA, National City Mortgage Corporation, Land Title Guarantee Company and Mile High United Way have issued a challenge to all mortgage lenders and affiliate organizations in Colorado to participate in a fund raiser to benefit a unique transformational housing project. The project, spearheaded by Paul Franke, general counsel, CMLA, is designed to provide housing for individuals at the 50-60% of median income; a group virtually unserved at this time. At the end of approximately 5 years, residents will move out having saved (and received matches on their savings) approximately $12,000. This money, with other first-time homebuyer benefits, will be used to help residents afford a home. We believe this is one of the first projects of its type in the country. National City Mortgage Corporation has challenged other mortgage lenders to contribute an amount per loan to this cause during the month of June. For example, National City is collecting $50 from each loan officer for each loan closed in the month of June. In addition, National City will then match that amount with $50.00 per loan from the company. Land Title Guarantee Company is also participating and challenging all affiliates to contribute to the project as well. In addition to helping out a great cause, Mile High United Way is going to recognize the top three loan officers in each of three categories: 1) large company; 2) medium company; and 3) small company. The top company in each category will be recognized, as will the top affiliated company (title companies, etc.). The top individuals will also be identified as part of the Mile High United Way giving community. Mile High United Way is asking each company to track loan closings and to keep the monies contributed by its employees. At the end of the month, each company will provide the funds, along with a list of the employees who gave. Mile High United Way will provide tax receipts for all gifts.
Paul R. Franke, CMLA General Counsel "Mortgage lending as an institution provides an opportunity for many people to realize the American Dream of homeownership. While we all help people and get paid to do so, at the end of the day the question remains, "What have we done beyond making a living to give back to the community and to reach out to borrowers so as to make a significant difference in their lives?" This transformational housing project is a great match for mortgage lenders as it truly reflects the values of the industry and gives our members an opportunity to assist those who they don't usually come in contact with -- specifically people who wouldn't even qualify for sub-prime loans. The fact that CMLA members care deeply about our community and are willing to contribute significant dollars to assist in helping the community makes this opportunity a perfect fit." Paul Franke is Vice Chairman of the Board of Trustees, Mile High United Way. He also chairs the Leadership Council and is a member of the Executive Committee. I encourage each CMLA member firm to participate in this fund raising challenge. For more information, please contact Mr. Richard Gonzales, Vice President of Community Relations at Mile High United Way by email at richard.gonzales@unitedwaydenver.org or by phone at (303) 433-8383. HOPE for Homeownership Award This month we recognize and reward the good work our lender members do every day to help individuals and families achieve homeownership through the CMLA HOPE for Homeownership Award. This award, which is presented once each year, recognizes four CMLA lender members from the Denver metro area, southern Colorado, northern Colorado, and western Colorado, who have demonstrated outstanding leadership in assisting and originating community lending resulting in hope for homeownership. Specifically, the award recognizes lenders who exemplify the best in serving borrowers and helping individuals and families from all income levels and backgrounds achieve homeownership. As Chairman of the association, I am proud to announce this year's HOPE for Homeownership award recipients: Denver Area: Phil Koentges, First Horizon Home Loans Southern Chapter: Sharon Revious, Rocky Mountain Bank & Trust Northern Chapter: Bob Squire, Wells Fargo Home Loans Western Chapter: Bethe Driscoll, Countrywide Home Loans Phil Koentges, Business Development Manager, National Affinity Lending and Builder Services Mr. Koentges has spent an enormous amount of time and resources in helping families at 80% and below become homeowners through personally assisting with budgets and planning and patient support in understanding what it takes to get a loan, and to understand the financial responsibility of homeownership. As a preferred lender at Stapleton with their affordable product, First Horizon has taken the lead in securing project approvals as well as interim spot approvals needed to get individuals and families into homes. First Horizon also is very involved in promoting employer-assisted homeownership, making in-roads into our business community and disseminating the information necessary to create win-win situations for employers and their employees. Mr. Koentges heads a first-class staff who are knowledgeable about products and who handle "eleventh hour" issues professionally. Sharon Revious, Vice President Mortgage Banking In 2003, Rocky Mountain Bank & Trust did 19 FHA/CHFA loans totaling $2,865,006 as well as three Rural Development loans in the Limon area and an agriculture loan in Fremont County. RMB&T partnered with Leta Tarver of Rural Development for a Homebuyer Education Workshop in Limon and participated with the County of Fremont in their Lending and Education Fair. Additionally, RMB&T utilized local down payment assistance on 15 of their FHA rural development loans. Bob Squire, Branch Manager Mr. Squire oversees team members who focus on low to moderate income communities. He implements Well's CDMP program, which serves families earning less than 80% of AMI. Eleven families benefited from the CDMP program. Additionally, Mr. Squire serves on the board of Northeast Colorado, Inc., a nonprofit that purchases homes, fixes them up and then sells them to low income families. Bethe Driscoll, Home Loan Consultant During the past 12 months, Bethe's focus has been on creative lending, turning sub prime referrals into first-time homebuyers with CHFA and FHA loans amounting to approximately $3 million. Bethe is currently working with Housing Resources to offer home ownership to disabled and low-to moderate-income families. Homeownership represents a pathway to pride and prosperity for many families. It encourages values of responsibility and sacrifice, creates stability for neighborhoods and communities, and generates economic growth that helps strengthen our country. At its core, the business of mortgage lending is truly about serving people and helping them realize the American Dream. To me, this Dream is the joy of creating productive family members who go forth to contribute to the betterment of the world. Join me in celebrating National Homeownership Month as we give from our hearts to help those in need and as we recognize all who constantly strive to make sure that individuals and families continue to enjoy the freedom and ability to own a home. Finally, ask your self how you might make a positive difference in our quest by contributing your talent, ideas and passions for service in our effort to realize the mission of the Colorado Mortgage Lenders Association. |
Table of Contents Governor Bill Owens Addresses May CMLA Luncheon Chris Holbert Elected to the Board of Habitat for Humanity of Colorado 2nd Annual Northern Colorado Lending Fair Recap Part 3: Gramm-Leach-Bliley Act: Creating a Security Policy Fall 2004 CCA CML course schedule Click here to send your feedback about the CMLA e-Newsletter |
