Experts on Mortgage

Tammy Butler is a Master CMB and the publisher of www.MortgageCurrentcy.com. She joins the show today to talk about her career and how many originators have an extreme misunderstanding of working with non-US Citizens. Tammy walks us through how to navigate the complexities of the US government to get non-US Citizens a home loan.

Brian Vieaux of FinLocker joins the podcast to discuss his mortgage career, how he became a Certified Mortgage Banker (CMB), the best practices for engaging first-time home buyers early in their shopping journey, and the home buying trends of Gen Z.

At the Annual Convention in October, the Mortgage Bankers Association announced a new policy initiative, Building Generational Wealth Through Homeownership, aimed at “providing industry leadership and direction for reducing the racial homeownership gap; developing and supporting policies that support sustainable homeownership for communities of color; and promoting fair, equitable, and responsible lending for minority borrowers.” However, for many lenders, there is a lack of understanding of how their own lending activity impacts the homeownership gap since it wasn't measured within their organization. Since it's difficult to improve what you don't measure, there is a large initiative amongst lenders to understand where they currently stand so they can strive to improve.

Lyubomira Buresch, CMB and Greg Oliven of Polygon Research are working with leading lending organizations to access the vast amount "open-but-complex" HMDA, Census, and other public data sets and leveraging modern technology to deliver lending and demographic analysis. Listen in to hear more. 

Visit Polygon Research at https://polygonresearch.com/ to learn more about how they can help you.

There has been a lot of discussion about the mortgage industry transitioning away from the LIBOR index, but it wasn't until I read the book "The Spider Network" by David Enrich that I understood the history of how the LIBOR was originally created and why the housing finance industry needs to separate themselves from it. Listen in to hear how a math genius and a gang of scheming bankers pulled off one of the greatest scams in history. 

Host: Mike Eshelman, CMB (Jornaya)

The Telephone Consumer Protection Act (TCPA) was enacted in 1991 to protect consumers against unwanted telemarketing calls to cellular telephones made by "autodialers." At that time, the law could not comprehend the future in which cell phone usage has become increasingly widespread and many households now rely solely on cell phones as their primary means of communications. The MBA filed a petition for exemption and subsequent Application for Review because frequent communication and early intervention are essential to helping struggling homeowners resolve delinquencies and remain in their homes. This exemption is necessary because of the importance of early intervention in delinquencies, the extensive national rules governing mortgage servicer conduct and the possible dire consequences of loss of a home for the borrower.  

Earlier this year, the Supreme Court of the United States ruled on the TCPA in Facebook, Inc v. Duguid -- listen in as the "TCPA Czar", Eric Troutman of Squire Patton Boggs, explains the TCPA and discusses the SCOTUS decision.

Host: Mike Eshelman, CMB - Head of Consumer Finance (Jornaya)

Guest: Eric Troutman - Partner (Squire Patton Boggs) & TCPAWorld.com

Dustin Owen, CMB is the Regional Vice President at Waterstone Mortgage Corporation and is responsible for operating, managing, and growing the Southeast region. Dustin is a founding partner of the Murphy-Owen Home Loan Team, one of Waterstone Mortgage's top mortgage origination teams in the United States. He also hosts the Loan Officer podcast which has over 100 episodes to date. 

In this episode of the Experts on Mortgage podcast, Dustin tells us how he got into the Mortgage industry, his journey to becoming a CMB, and provides some advice to those considering, or in the midst of, obtaining the Certified Mortgage Banker (CMB) designation. 

Host: Mike Eshelman, CMB - Head of Consumer Finance (Jornaya)

Guest: Dustin Owen, CMB - Regional Vice President - Southeast (Waterstone Mortgage)

In February 2021, The Mortgage Bankers Association responded to the FHFA's Request for Information (RFI) on Appraisal-Related Policies, Practices, and Processes. In the MBA's response, Bob Broeksmit, CMB wrote, "FHFA’s objective of promoting the modernization of the appraisal process is a welcome step toward determining the appropriate intersection of traditional evaluation methods and the incorporation of innovative digital tools. As the mortgage finance industry continues to grapple with the effects of an aging appraiser population and longer turnaround times on appraisal findings, greater demand has been placed on identifying ways to automate aspects of the valuation process, while supporting the development of approaches that offer fair and unbiased results."

Listen as Amy Swaney, CMB discusses the issues with Appraisals and what a future-state could look like. 

Host: Mike Eshelman, CMB - Head of Consumer Finance (Jornaya)

Guest: Amy Swaney, CMB - Branch Manager (Citywide Home Loans)

The CRA was enacted in 1977, and since then, has been amended up to 4 times. There is a general consensus on all sides (the banking industry and the regulators) that the regulations have not kept up with modernizations in the banking industry, and are therefore, outdated and in need of overhauling. The federal banking agencies are currently making efforts geared towards such an overhaul of the regulations - with the OCC issuing a proposal requesting input from stakeholders. The Mortgage Bankers Association supports the overhaul, and will work with the federal banking agencies throughout the process. Listen as Christy discusses the Community Reinvestment Act (CRA) on today's show.

Host: Mike Eshelman, CMB - Head of Consumer Finance (Jornaya)

Guest: Christy Soukhamneut, CMB - Chief of Staff/Director of Mortgage Strategic Initiatives (Flagstar Bank)

The Mortgage Bankers Association believes energy efficient home improvements can be beneficial for homeowners, but significant concerns exist when these improvements are financed with Property Assessed Clean Energy (PACE) loans, which is a financing structure lacking vital consumer protections and presenting lien priority risks to lenders, investors and guarantors. Listen as PJ Harrigan, CMB discusses the issues with PACE loans.

For more information, visit the MBA's website on Residential Policy Issues-PACE Lending.

The Certified Mortgage Banker (CMB®) designation is the mortgage industry standard of professional success. It symbolizes respect, credibility, ethics and achievement within real estate finance. Earning a CMB® instantly places people at the top of our dynamic industry and makes them part of the elite group that has achieved the highest level of professional success. Today, I'm joined by Madeline Johnson, the former CMB Society Chairwoman, to explain the process of becoming a CMB®.

For more information on the CMB® program, please reach out to Amber Lawrence at [email protected] and visit https://www.mba.org/