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.
Sponsored by Frost Mortgage
Thursday, February 12, 2015
12:00pm to 1:00pm
**Albuquerque Country Club"
Mortgage Action Alliance Chairwoman
Amy Swaney, CMB
MBA's Nevada Ambassador
After Lunch Classes
RESPA/TILA Reform and the New Combined Disclosures
Get ready for the new Loan Estimate and Closing disclosures coming this August, along with the 1,888 pages of regulations that accompany them! Don't be caught off guard.
Alan Fowler, CMB
Executive Vice President and Director of Education for First Mortgage Company,
Vice President and New Mexico Agency Manager
Please join us as we share how Housing Matters to New Mexico’s Economy,
Families and Communities at a
HOUSING MATTERS EVENT
Thursday January 22, 2015 10:00am to 10:30am
ROTUNDA At The Roundhouse
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