New Mexico Mortgage Lenders Association

 

Welcome to the New Mexico
Mortgage Lenders Association.

Welcome to the New Mexico Mortgage Lenders website. Here you will find what is happening today, tomorrow or within the year in the mortgage industry. There are many items that can impact both lenders and consumers that we want to make you aware of. Reduction of FHA mortgage insurance premiums and Foreclosure reform are a few such things. 

 

The New Mexico Mortgage Lenders Association is the state affiliate of the Mortgage Bankers Association (www.mba.org). As a consumer, you are welcome to use the “Consumer Tools” within this website as well as at that Mortgage Bankers Association website. As a lender, please utilize this site as an informative tool to get the latest and greatest updates on changing laws, rules and regulations that impact you and our industry. Each and every member of our organization subscribes to our Code of Ethics so please feel at ease when contacting any of us for advice, inquiry or qualification of financing. To insure that our industry is continuing to move in the right direction, please join the Mortgage Action Alliance. The Mortgage Action Alliance (MAA) is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate industry professionals and concerned citizens affiliated with the Mortgage Bankers Association. MAA is dedicated to not only having a voice, but being heard in Washington DC, state capitals and cities across the country. I urge you to get involved with MAA to play an integral role in how laws and regulations that affect our industry are presented, formed and ultimately implemented. It only takes a moment of your time sign up and start making a difference. 

We look forward to a fantastic 2015. Our monthly luncheons are held the 2nd Thursday of each month and I look forward to seeing you all there. 

 

Chris Frost 

President

Very Important message – MBA “Statement of Principles” on HOA Super Liens

For decades, HOA super priority liens have existed in roughly half of the states (see attached for more info), allowing HOAs an advanced lien on a property for several months of delinquent assessments. Adopting jurisdictions have typically quantified the HOA super priority lien as between six and nine months of unpaid assessments by the homeowner and related collection costs. Traditionally, this lien has been enforced as a "payment priority" from the proceeds of a foreclosure sale conducted by a superior lienholder or encumbrancer, collected in advance of the first lien mortgage/deed of trust. However, in 2014 the Nevada Supreme Court and the District of Columbia Court of Appeals ruled that HOA super priority liens are "true priority" liens in their jurisdictions – meaning an HOA may conduct a foreclosure sale on this lien and if an otherwise superior lienholder or encumbrancer does not act to satisfy it, their lien interest (i.e. the first mortgage/deed of trust) will be extinguished.

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Thank You

thank-you
Thank you for all of your support for this years very succsessful  NMMLA Golf Tournament from the President and board members of the New Mexico Mortgage Lenders Association!
Sponsorship-Flyer-(3)

Mortgage Action Alliance Members – IMPORTANT!

Dear Mortgage Action Alliance Member,

With the August recess upon us, Members of Congress have returned to their home states and districts. This is the perfect time to reach out to schedule an in-person meeting with your Senators<http://mba-pac.informz.net/z/cjUucD9taT00NTc0MzAwJnA9MSZ1PTc4MTU4Mjc4NiZsaT0yOTIxNDc1OA/index.html> or Representative<http://mba-pac.informz.net/z/cjUucD9taT00NTc0MzAwJnA9MSZ1PTc4MTU4Mjc4NiZsaT0yOTIxNDc1OQ/index.html> to discuss the issues facing the real estate finance industry. Mortgage Action Alliance staff are available to provide guidance on how to go about scheduling a meeting with your elected officials.

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Important Please Read – MBA, CSBS, IMS Standards Comment Letter

 

 June 23, 2015 

MSR Task Force Conference of State Bank Supervisors

1129 20th St, NW, 9th Floor

Washington, DC 20036 

 

re: CSBS Proposed Framework for Prudential Regulation of Non-bank Servicers 

 

The Mortgage Bankers Association (MBA)1 appreciates the opportunity to comment on the Conference of State Bank Supervisors’ (CSBS) proposed framework for prudential regulation of independent mortgage (or “non-bank”) servicers (the Proposal). Determining appropriate regulatory standards for non-bank servicers has been a topic that has attracted interest in recent years and we are grateful that CSBS has provided opportunities for feedback and taken the lead in the discussion. 

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Important Please Read – CSBS Proposed Framework for Prudential Regulation of Non-bank Servicers

 

June 23, 2015 

MSR Task Force Conference of State Bank Supervisors

1129 20th St, NW, 9th Floor
Washington, DC 20036 

 

re: CSBS Proposed Framework for Prudential Regulation of Non-bank Servicers

The undersigned state mortgage banking associations (the Associations) appreciate the opportunity to comment on the Conference of State Bank Supervisors’ (CSBS) proposed framework for prudential regulation (the Proposal) of independent mortgage (or “non-bank”) servicers. This is a topic of interest and we appreciate that CSBS has taken the lead in this discussion and provided opportunities for feedback. As an initial matter, the Associations question whether such prescriptive prudential regulatory standards for independent mortgage servicers are appropriate.

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From The President

From The President:

 

Another great lunch meeting gang! This month we were honored to have Albuquerque Police Chief Gordon Eden Jr. He had quite a bit to say but most importantly he thanked the many men and women in the room for being top flight business owners, community supporters and overall exemplary citizens of NM. He shared some great insight into the daily functions of the police force and shed light on the delicate relationship with the media. The message capstone, please support your law enforcement by going to Facebook and Twitter, searching for the APD handle and like them. NMMLA’s annual golf tournament is on August 28th at Santa Ana Golf Course. Teams are rolling in and we have already secured the lunch sponsor, Raylee Homes. Thank you!!! Mark the date gang, start forming your teams and let’s make this the best event yet. Lastly, next month’s luncheon is July 9th. We are looking to have some TRID training, even though the date of implementation has been pushed back. We can never be too prepared. I look forward to seeing you all there.

 

All my best,

 

Chris

From MBA Dave Stevens

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State Legislative and Regulatory Committee Members,

I encourage everyone to read this piece released yesterday by the Economist Mark Zandi, and Urban Institute Senior Fellow Jim Parrott.

 

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From The President

Christopher
From the President,

Great seeing you all at the last NMMLA luncheon. If you were not there, you missed a very good speaker in Liz Davenport of Order From Chaos. Who in our industry does not live and breathe in chaos from time to time? As I reflected on Liz’s presentation, not only did I resemble much of what she talked about, I also realized that there are changes that can be made to be much more productive. I urge you to pick up her book, Order from Chaos, A 6 Step Plan for Organizing Yourself, Your Office and Your Life. I did and will tell you the first sections are extremely informative.

Jack Thompson gave us an update from the legislative front and as he so eloquently put it, no news is good news at this point. With the changing of the guard up at the Roundhouse, there has been little to no movement with many of the bills. As we hear more information, we will share it with you right here.

Stay tuned for upcoming news on the NMMLA annual golf tournament. If you are wanting to be on the committee, or any other for that matter, let us know.

Next luncheon is on April 9th at ACC, I look forward to seeing you then.

Chris

Follow Me On  http://gregfrost.com/emailgraphics/tweet.jpg

Message from the president

Christopher

From the President:

What a great luncheon today! If you were not able to attend, you missed one heckuva presentation by Amy Swaney, CMB & Chairwoman of Mortgage Action Alliance. A few key items of note from Amy’s speech, we need you, and we need you badly. 

Did you know that there are 300,000 people in the mortgage industry and only 8900 of them are signed up with MAA. What’s worse than that, only 64 members are from New Mexico. One of our single greatest gifts is a voice and only 3% of our industry is using it! Come on gang, join MAA today. It takes a few minutes of your time and does not cost you a penny. The form is located on this website for ease of completion.

The National Association of Realtors spent $18.5M in 2014 on PAC support and agenda items. In comparison, the Mortgage Bankers Association was only able to raise $1.5M in 2014. It’s no wonder we struggle to win support on topics pitted against NAR. We need you again, and we need you badly. The PAC form is located on this site for ease of completion. Please consider contributing $25 per month to support our cause, your career and the dream of homeownership for all American families.

There are some bills up for discussion this legislative period and NMMLA is wading through them all. The Legislative Committee has a meeting on the 18th with the Assistant Attorney General and our council to discuss them and their potential ramifications. Please look for Jack Thompson’s commentary on this site for further information.

Next luncheon is March 12th and I look forward to seeing you there.

My best,

Chris

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