Welcome to the New Mexico
Mortgage Lenders Association.
Welcome to the New Mexico Mortgage Lenders Association website. Here you will find information on what is happening in the mortgage industry which affects both lenders and consumers. The New Mexico Mortgage Lenders Association is the state affiliate of the Mortgage Bankers Association (www.mba.org). If you are a consumer, you are welcome to use the “Consumer Tools” that we offer both at our website and the Mortgage Bankers Association website. Everyone of our members subscribes to our Code of Ethics so you should feel confident in calling any one of us for advice on home financing. If you are a lender, you are also welcome to utilize our website to update yourself on the latest information on the ever changing laws and rules and regulations that affect our industry. Whether you are a lender or a consumer, we hope that you will join and participate in the Mortgage Action Alliance.
The Mortgage Action Alliance (MAA) is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association. MAA is dedicated to strengthening the industry’s voice and lobbying power in Washington, DC and state capitals across America. Get involved with MAA to play an active role in how laws and regulations that affect the industry and consumers are created and carried out by lobbying and building relationships with policymakers. It only takes a moment to get started, and you do not have to be a member of MBA or the NMMLA to enroll.
We look forward to a great and eventful 2014, and I know that together we can do great things.
Bill Elliott, CMB, AMP
12:00 pm – 1:00pm
**Albuquerque Country Club**
The New Mexico Mortgage Lenders Association proudly presents:
8 Hour CE Comprehensive Certification Course
IMPORTANT MORTGAGE REGULATORY SEMINAR
-New Rules for Bank and Non-Bank Mortgage Lenders
– New RESPA/TILA Forms and Regulations
-New Loan Originastor Qualification Requirements
-Complete Loan Applications: Now Required!
-Whats coming from the CFPB
November 5, 2014
8:00am to 5:00pm (Lunch included)
with instructor Alan Fowler
(NMLS Course Provider # 3084)
My name is Jack Thompson and I have served as your NMMLA President for two terms and on the board for over 14 years. I am writing to you about our legislative initiatives here at the New Mexico Mortgage Lenders Association for the upcoming legislative session in 2015. We anticipate several bills to be introduced that take direct aim at our industry. Currently there is an official task force that was put into place by last year’s legislature. The task force has been charged with studying foreclosures and the foreclosure process in New Mexico. We are certain that a bill will be introduced as a result of the task force that will call for tighter restrictions on servicers during the foreclosure process. The bill will propose a complete judicial foreclosure process as well as more points during the foreclosure process that allow the borrower to delay foreclosure over and over. Currently it now takes over one year to foreclose on an unpaid mortgage in New Mexico. The task force will be asking for a process that allows for much more time and much more cost to the servicer. Continue reading