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."
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.
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.
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'sThe Smart Investor.
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.
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.
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.
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