Arizona Association of Mortgage Brokers

AAMB Central Chapter Luncheon - March 10, 2010

Arizona Association of Mortgage Brokers

Central Chapter Luncheon ~ Wednesday, March 10, 2010
SCOTTSDALE

AAMB and AMLA have joined forces to bring you their MONTHLY LUNCHES.

NEXT LUNCH - Wednesday, March 10, 2010
Sponsored by Advantage Credit, Inc.

Designated Broker Panel
Listen to some of the top real estate brokers in the Valley!

• Dominic Scappaticci of Realty Executives
• Deems Dickinson of Russ Lyon-Sotheby's
• Martha Appel of Coldwell Banker

NEW LOCATION FOR MARCH
Scottsdale Cottonwoods Resort
6160 N. Scottsdale Rd.
Scottsdale, AZ  85253
(southwest corner of Scottsdale Rd. & Lincoln)

Time:  11:30 am - 1:00 pm
Cost:  $30 (Members or Non-Members)
Register:  ONLINE       FAX FORM

AAMB Southern Chapter Luncheon - Tuesday, March 9, 2010

Arizona Association of Mortgage Brokers

Southern Chapter Luncheon ~ Tuesday, March 9, 2010
Joint AAMB - SAMLA Luncheon
TUCSON

Tuesday, March 9, 2010
Sponsored by Nova Home Loans - Northwest Branch

Economic Update and Outlook
Marshall Vest
Director, Economic and Business Research Center
University of Arizona's Eller College of Management

Marshall Vest is an authority on Arizona's economy and is a consultant to a number of Arizona's largest companies, Arizona's Governor and Legislature, as well as a number of local governments.  With 30 years heading the College's Forecasting Project, Marshall has authored over 175 articles on the economy.  These forecasts are recognized as among the most accurate in the western states, and he is frequently quoted in both the local and national business press.

Location
The Manning House
450 W. Paseo Redondo
Tucson, AZ  85701

RSVP AND PREPAYMENT REQUIRED*
*NO LATER THAN THE THURSDAY before the luncheon, BY 5:00 PM. 

Time:  11:30 am - 1:00 pm
Cost:  $30 (Members or Non-Members)
Info:    Debby McClintick, 520-323-3300
Registration:  ONLINE    FAX FORM

Don't Miss Out - Great Raffle Prize!

We are raffling off a UofA basketball that has been autographed by the entire men's team, including Coach Sean Miller.  ALL proceeds raised will benefit The Hearth Foundation, which provides shelter for homeless women and children. 

From D.C. - Legislative Affairs Update from AAMB's Jody Davis re: FHA Audit

Arizona Association of Mortgage Brokers

Potential Good news for AAMB members (and all mortgage professionals)! 

"FHA Commissioner David Stevens spoke at the NAMB Legislative Conference yesterday here in Washington D.C. and dropped a bomb.  He said if your audit is due on March 30th of this year or later, don't spend the money.  The new FHA rule removing audits will be released March 1st and will apparently be in effect by the end of the month.  He stated this comment very forcefully and added that it does not matter what others say about this issue.

"If you have not done your audit, this could save you about $6,000 to $12,000 this year."

 

Jody Davis

Government Affairs Chair

Arizona Association of Mortgage Brokers

AAMB Leaders in Washington D.C. fight for you - #2

Arizona Association of Mortgage Brokers

Dan Huss, AAMB President-Elect, provides another video update on AAMB's effort to fight for its members and all AZ mortgage professionals in conjunction with NAMB's Legislative conference in Washington DC this week.

 

AAMB Leaders in Washington D.C. fighting for you

Arizona Association of Mortgage Brokers

Some 12 AAMB board members have descended on Washington DC to meet with senate and congress members on Capital Hill to fight for the mortgage industry while attending the NAMB Legislative conference.  Here's the first of several video updates.

Wayne Stutzer - Words of encouragement and realism for AZ mortgage professionals

Arizona Association of Mortgage Brokers

If you missed Wayne Stutzer's remarks at the first Central Chapter AAMB-AMLA combined luncheon, he agreed to provide a 2 1/2 minute video highlight of a key message from his presentation.  

Wayne, a long-time friend of both AAMB and AMLA, is Senior Vice President of RBCDain Rauscher and host of KTAR's The Smart Investor.

AAMB Central Chapter - first combined luncheon with AMLA a success!

Arizona Association of Mortgage Brokers -- Central Chapter

About 100 people came out for the first AAMB-AMLA combined luncheon yesterday, with representation from each group evenly split. 

Watch this 10 second clip to see attendees enthusiastic response to the AAMB-AMLA partnership and how it'll strengthen the voice of mortgage professionals in the greater Phoenix area.

Our thanks go out to AMLA leadership and members for their willingness and commitment to finding win-win ways for our two groups to work together. 

Also, thanks to Wayne Stutzer, a favorite speaker of both groups, for delivering a powerful message of hope about our economy and country.

 

AAMB and AMLA - Two Organizations - One Powerful Voice

Arizona Association of Mortgage Brokers

Paul Klimke of the Arizona Association of Mortgage Brokers and Dan Morse of the Arizona Association of Mortgage Lenders with a 1-minute message about how both organizations are partnering together.

Thanks to Fletcher Wilcox at Grand Canyon Title Agency for the scenic backdrop.

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Foreclosed homes in metro Phoenix...signs of improvement?

Arizona Association of Mortgage Brokers

The new ASU-Repeat Sales Index, compiled by the Center for Real Estate Theory and Practice at the W. P. Carey School of Business, shows that the rate of decline of foreclosed home prices is slowing down.

In October, the median price of foreclosed homes dropped 15 percent.  In November, the drop is anticipated to be 8 percent and in December only 2 percent. 

This is in stark contrast, however, to what's happening to prices of non-foreclosed homes.  In October, prices fell 19 percent and December is expected to show a drop of 23 percent.  Non-foreclosed home prices have been in a rate of decline at approx. 20 percent per month since October 2008.

For more detail, click here.

Fingerprinting Now Available through NMLS for SAFE Act Pre-Licensing

Arizona Association of Mortgage Brokers

NMLS has posted information on their website about getting fingerprints...one of the necessary steps in the process of obtaining a mortgage originator license in compliance with the SAFE Act.

Fingerprints will be submitted to the FBI in order to conduct a criminal background check.  Results of the check will be attached to each mortgage loan originator's NMLS record. 

The fee is $39 for a live scan (electronic) capture, or $49 (or more) for paper card capture.  Live scan and paper card locations can be selected from a list of vendors during the process of registering for fingerprinting. 

Live scan is recommended by NMLS over paper card capture because it costs less, can be scheduled more quickly, requires fewer steps, and results in fewer unreadable prints, which presumably require a do-over.

To begin the process and for more information, CLICK HERE to go to the NMLS website.

For more general information on the AAMB Blog about licensing, click here.