October Meeting - RESPA Update

NAMB Past President and current Government Affairs chairperson Joe Falk will discuss the following developments within our industry:

• RESPA Reform- How can you stay in Business?
• Why would a borrower give you back your YSP/Par Plus?
• Predatory Lending-Capping your fees!
• Child Molesters & Mortgage Brokers- listed on Federal Registers!
• Why the NAMB loves Federal Preemption!
• Affiliated Business Arrangements-Jail or no jail?

Meeting Sponsored by Yale Mortgage

1:00 - 5:00 Seminar—RESPA

Education sponsored by MortgageIT

5:00 - 6:30 Networking and Meeting Registration

6:30 - 8:00 Dinner & Speaker: NAMB Past-President Joe Falk

Costs:
• All Members: FREE
• $20.00 Non-Members

For banquet reservations or information, call FAMB Central Florida at 407-774-4389 or email us at rsvp@fambcentralflorida.com.

NAMB's Government Affairs Chair

When NAMB Government Affairs Chair Joe Falk speaks to the Central Florida Chapter of FAMB on Tuesday night, he knows what he's talking about. During his service to NAMB as a board member, Government Affairs Chair and President, he has testified before Congress and HUD dozens of times and has lobbied tirelessly on behalf of FAMB members and mortgage brokers across the country. In his most recent testimony, he represented NAMB before the House Committee on Financial Services speaking about Licensing and Registration in the Mortgage Industry.

Joe was also instrumental in creating and presenting the NAMB Model Good Faith Estimate to HUD during the RESPA Round Tables.

FAMB Golf Tournament November 4th

Register now for the FAMB Central Florida Chapter FALL GOLF TOURNAMENT at Winter Springs Golf Club. Send in your registration form and register to play or be a sponsor (or both!)

9:00am Registration

9:30am - 10:30am Putting Contest

11:00am Shotgun Start

Please note: All registration forms must include payment and all money must be received by October 26, 2005. No on-site registration. No exceptions.

Registration fee of $90 includes golf, putting contest, range balls, beer, soda, lunch, dinner reception, awards ceremony, and door prizes.

Lender's Heed Greenspan's Warnings about I/O Loans & Option ARMS

Greenspan has recently cautioned lenders and homebuyers about taking out "risky" loans such as interest-only mortgage or option adjustable-rate mortgages to buy property they otherwise could not afford. Although recent years have seen unexpected appreciation in many national markets, if housing prices drop or if interest rates rise borrowers and lenders loans could suffer substantial losses.

According to an article in the Arizona Daily Sun, two national wholesale lenders are making changes to their pricing or lending criteria to reflect concerns issued by Greenspan. Check the article to find out who they are.

Read the Full Story

MEMBERSHIP

Members enjoy many benefits with FAMB. Discounts at the convention and other events, free continuing education, access to many group rates on insurance, overnights, pre-paid legal. If you're not a member yet, don't wait. Join today! Find out more about membership.

QUESTIONS?

For questions, suggestions, or comments regarding the Central Florida Chapter of FAMB or this newsletter, please email Kelly Guldi at newsletter@FAMBCentralFlorida.com.