Dear FAMP Members:
September has been a very busy month for FAMP. I attended the National Conference where Brian Montgomery, Commissioner of the Federal Housing Administration (FHA), provided some updates including the LTV changes for FHA cash-out refinance loans as well as single unit condominium approvals. He also announced that FHA would be investing $20 Million into updating their technology this year.
Following his presentation, I was able to speak with Brian Montgomery over lunch with a few of our industry leaders. He is enthusiastic about FHA’s role and clearly demonstrated that he does have his ear to the ground and is aware of the needs of today’s housing market. It was an incredible opportunity and it is reassuring to know that FHA wants feedback and is supporting homeowners and our industry. I want to extend a special thanks to Roy DeLoach for his efforts Lobbying for the Mortgage industry and for facilitating the meeting with our FHA Commissioner.
As we have officially entered the Autumn Season, it is a reminder that it is time to complete the eight hours of NMLS-Approved continuing education (CE) required annually by the SAFE Act. Please note that NMLS has published the following expectations related to your licensing renewal:
2019 CE DEADLINES:
• Smart Deadline: CE course(s) reported to NMLS by Friday, December 13
• At risk to miss renewal: Course(s) reported to NMLS by Friday, Dec. 20
• Guaranteed to miss renewal: Course(s) reported to NMLS by Tuesday, December 31
FAMP has both live and online classes available for you to meet the requirements. Please make sure and reserve your seat in one of our classes today by registering at www.ourfamp.org.
This month ended with FAMP’s 3-day annual retreat and planning session. I want to thank our Committee Chairs and our Executive Committee for all their hard work and the great ideas which we are incorporating into our Agenda this year.
Don’t miss the FAMP Forum on October 17th. It will be a day filled with amazing speakers bringing you tools that you can use to grow your business and the Office of Financial Regulation is coming out to talk about audits and compliance as well as answer your questions.