NY DFS on Cybersecurity

Join us as we host the NY DFS Executive Deputy Superintendent of Cybersecurity Justin Herring; Supervisor/Examination Team Lead William Peterson; and Deputy Rholda Ricketts. Jacqueline Goralczyk, LL.M., CIPM will moderate the event. Questions may be submitted in advance.

Cybersecurity is an ongoing practice and companies need to ensure that regulations are followed and best practices are employed to protect themselves and their customers from risk.

Co-sponsored by DeAngelus Goralczyk, LLC

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JOIN MAA TODAY!

New York is the financial capital of the country, and as such, should have the highest number of MAA members.  Right now, New York is not the leader in MAA members. New York Real estate finance professionals need to be engaged in a vital way that directly impacts the way you do business.  Whether you’re the CEO, CFO, CIO, Vice-President, Manager, Underwriter, Processor, Closer, QC, Servicer,  in the Secondary Market–YOUR VOICE SHOULD BE HEARD. YOU SHOULD JOIN MAA–TODAY!

Follow this link to complete a simple form.  It asks for your home address to identify your legislative representative, both at the Federal and State levels.

Speak directly with your members of Congress, state legislators and federal regulators about the impact of proposed legislation or regulations with the Mortgage Action Alliance, Inc.® (MAA). This voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association (MBA), 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 to enroll.


ACTIVE CALL TO ACTION EVENTS

Urge Your Representative to Vote YES for RON

Last year, Senators Mark Warner (D-VA) and Kevin Cramer (R-ND) introduced the SECURE Notarization Act of 2021 (S. 1625). Co-sponsorship of this bill was a key ask during MBA’s National Advocacy Conference earlier this year. This bipartisan, bicameral legislation would allow notaries in all states to perform RON transactions.

Your advocacy matters! Just last week, the full House of Representatives passed its RON companion legislation, H.R. 3962 by an overwhelming vote of 336-90, signaling to the Senate that there is considerable interest to clear the bill in the upper chamber.

S. 1625 requires tamper-evident technology in electronic notarizations and provides fraud prevention using multifactor authentication for identity proofing and audiovisual recording of the notarial act. To date, forty-one states have enacted their own laws to enable the use of RON. The federal legislation would complement those existing state laws, while allowing individual states the flexibility and freedom to implement their own RON standards.

  • Why it matters: A direct result of MBA’s outreach and advocacy, S. 1625’s minimum standards for RON are consistent with those provided in the MBA-ALTA model state RON bill and the Mortgage Industry Standards Maintenance Organization (MISMO) RON Standards.
  • What’s next: Thanks to your help, the robust floor vote on July 26 in favor of H.R. 3962 achieved two key objectives: (1) the measure cleared the full House with strong momentum; and, (2) helped create a pathway for MBA and our coalition partners to garner further support for the measure’s Senate companion, S. 1625 – while pushing for avenues to have the bill potentially considered by the full Senate prior to the close of the 117th Congress.

TAKE ACTION NOW!


PREVIOUS CALL TO ACTION EVENTS

Tell your Senators to Expand Affordable Homeownership Opportunities and Support Community Revitalization!

Senators Ben Cardin (D-MD) and Rob Portman (R-OH) recently introduced Bill S.98, the Neighborhood Homes Investment Act (NHIA), a bill that would create a new federal tax credit to fuel development. This bipartisan legislation would encourage the rehabilitation of single-family homes and potentially attract $100 billion in development activity to underserved rural and urban communities across the country.

The NHIA builds on the success of the Low-Income Housing and New Markets Tax Credits, which support affordable rental housing and economic development, respectively, but are not designed to build or rehabilitate owner-occupied homes. Bill S.98 would support the development of homes in rural communities struggling with the costs of new construction, as well as the rehabilitation of homes in blighted communities, where vacant homes depress property values and thwart broader revitalization efforts.

Foreclosure Prevention & Refinance Report Released

The Foreclosure Prevention & Refinance Report and Federal Property Manager’s Report as of February 2020 has been posted.  This report quantifies the number of foreclosure prevention actions taken by Fannie Mae & Freddie Mac, the Enterprises, year-to-date and cumulative since the beginning of the conservatorships in September 2008.

Issued by FHFA 5/14/2020
Foreclosure Prevention, Refinance and FPM Report – February 2020

April New Home Purchase Mortgage Applications Decreased 12 Percent

WASHINGTON, D.C. (May 14, 2020) — The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for April 2020 shows mortgage applications for new home purchases decreased 12 percent compared from a year ago. Compared to March 2020, applications decreased by 25 percent. This change does not include any adjustment for typical seasonal patterns.

“New home purchase applications severely weakened in April, which coincided with the peak of the social distancing efforts and restrictions on non-essential activities to help slow the spread of COVID-19. During what’s typically the prime home buying season, activity fell 25 percent from March and decreased 12 percent from a year ago,” said Joel Kan, MBA’s Associate Vice President of Economic and Industry Forecasting. “MBA estimates that new home sales dropped to an annualized pace of 533,000 units – the slowest since December 2016. This decline was in line with data from our Weekly Applications Survey, which indicated a pullback in March and most of April.”

Added Kan, “There’s evidence now that unrealized, pent-up demand is being released as states start to reopen. We expect that heading into the summer, more prospective homebuyers will gradually return to the market.”

Source: Adam DeSanctis
Mortgage Bankers Association
adesanctis@mba.org
(202) 557-2727

New York MBA Executive Board–Working for You!

Steven A. Milner – Founder and CEO of US Mortgage Corporation and NY MBA President, and Jim Bopp,  National Renovation Lending Manager of Platinum Home Mortgage Corporation and NY MBA Immediate Past President shown here with MBA’s President and CEO Bob Broeksmit, CMB at the MBA CEO Listening Tour held last week in Iselin NJ (at the headquarters of Homebridge Financial Services, Inc.).   They were joined by other MBA Senior Staff and industry CEOs and Senior Management for a conversation about mortgage industry business, policy, and hot button topics and how MBA could better serve its membership and the industry as a whole.  Keep an eye our for future MBA and NY MBA strategic plans and initiatives as we head into 2020 and beyond. 

ONE VOICE. ONE VISION. ONE RESOURCE! 

Join MBA now!

Already a member of MBA, join New York MBA today!

 

DFS Proposes New Rules for Loan Servicers

June 29, 2019:  The DFS has proposed changes to Title 3 NYCRR Part 419: Servicing Mortgage Loans: Business Conduct Rules. NY MBA responded in a joint letter with MBA, which you can view by clicking HERE.

2019 Advocacy Conference

ADVOCACY DAY CONFERENCE–“Making a Difference Together”

2019 NYMBA Adv

Only through advocacy can we stop legislation that has unintended consequences for lenders and consumers alike. Members took this opportunity to promote good legislation and meet with elected representatives. You can make a difference because you know your business better than anyone, and your knowledge is valuable to members of the state legislature.   Those attended:

  • Heard about proposed legislation that impacts the way we do business;
  • Learned how to effectively discuss legislation with members of the state legislature;
  • Had the opportunity to meet other concerned and involved members of the industry;
  • Were a part of shaping the future of our business

ADVOCACY SPONSORS  ~  Thank you!

Ianniello Anderson Logo Quicken Loans Logo

IREM Solutions          SyrSec logo

StoneHill_Logo_RGB          SIRArch-MI-Logo 3-4-18

McGlinchey_Stafford_Stacked_CMYK (2)       SchillerKnapp logo

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Forum on Revitalizing Communities and Forging New Partnerships

2019 NYMBA Forum 3.18.19

Restoring zombie properties for New York municipalities and consumers is paramount.  The focus of this roundabout event is to provide a forum for positive discussion on revitalizing communities with experts on-hand in the fields of fast-track foreclosure law, property preservation entities, mortgage loan servicers and community stakeholders.  Neighborhood reinvestment and tools to rehabilitate properties in New York will be explored in this 1/2 workshop which is open to all stakeholders, elected officials, municipalities, housing advocates, lenders and those interested in improving communities throughout New York.

MARCH 18, 2019, 8am-1pm
Renaissance Hotel, 144 State Street, Albany

WHO SHOULD ATTEND

  • Mortgage Loan Servicers
  • State & Local Elected Officials
  • Foreclosure Attorneys
  • Property Preservationists
  • Housing Advocacy Groups
  • Community Preservationists

REGISTRATION:  Click HERE to reserve and register online

FORUM SPONSORSHIP OPPORTUNITIES

TRID 2.0 (effective Oct. 1, 2018)

TRID 2.0–Are You Ready? Have questions?

Thursday, September 27, 2018 10am-10:45am
NYMBA Member – COMPLIMENTARY!
Future Member $49.95
Space is limited–RSVPS needed!

We’re holding a live webinar presentation on September 27th—free for all New York MBA members!
TRID 2.0 addresses many of the pain points that our industry has struggled with over the past two years. The new rule is in effect & compliance is mandatory as of October 1, 2018.

This webinar will cover tolerance levels in motion, and significant changes including:

Construction loan disclosures
Re-disclosures after Rate Lock
Escrow closing notices
Co-ops and Loan Estimates
Compliance expert Linda Bow will outline changes included in TRID 2.0 and answer your questions. Linda Bow, CRCM, CUCE, BSACS is the Director of Compliance for New York Credit Union Association.

Linda has been in the regulatory compliance environment for over 30 years. In addition to her designations she has her Master’s degree in Business Ethics & Compliance and is a graduate of the ABA Stonier School of Banking with a Wharton School Leadership certification. Her extensive knowledge base is enhanced with her broad range of experience and expertise from overseeing loan production, servicing, pricing and selling. She has successfully managed financial institutions, compliance departments and staff through regulatory changes and implementations as well as developed and sustained Compliance Management structures focused on first, second and third lines of defense and annual risk assessments.