January 2020

Message from FAMP President Gino Moro...

2019 was a year of growth and prosperity for our industry and for FAMP. Our Tradeshow was the largest it has been in years and the Attendees had so many top tier exhibitors to visit. It’s no wonder the FAMP State Tradeshow is recognized Nationally as being one of the best in the Country!

Last year was filled with opportunities to learn at the numerous classes, boot camps and webinars spread across the State. Being a Member of FAMP gets you access to all of this and more. If you are new to the industry and have just been licensed, we’ll even give you your 1st year’s membership for free. I encourage all of you to take advantage of your membership and come out to any event statewide and meet the people that can help you attain your goals and shape your future.

FAMP is a Florida based Trade Association, but it didn’t stop us from going to Washington to Lobby for our industry last year or the years before. On February 2nd thru the 4th we are back off to Tallahassee to Lobby locally and you are all invited to join us. The Office of Financial Regulation is coming out on the 4th to talk to our members before we head off to the Capitol to meet with our Legislators to discuss current issues.

If you don’t know who your Legislators are, check out our website under the Resources Tab and go to the Legislative Action Center. Here you can look them up and follow any Legislation affecting our industry.  Or even better, come to Tallahassee and meet them with us in February.

Ask yourself what you can do for your industry in 2020. To get involved or get more information about being part of FAMP’s Vision for 2020 visit our website (www.ourfamp.org) or contact us at famp@ourfamp.org.

Sincerely,
Gino Moro, FAMP President

 

Mortgage Industry News

FHA loan limits increasing for almost all of U.S. in 2020
11 counties will actually see loan limits decrease

December 5, 2019, HousingWire

Thanks to increases in home prices in 2019, the Federal Housing Administration loan limit will increase for nearly all of the country in 2020. According to an announcement from the FHA, the 2020 FHA loan limit for most of the country will be $331,760, an increase of nearly $17,000 over 2019’s loan limit of $314,827.

That loan limit applies to much of the country, with the figure determined as a percentage of the national conforming loan limit for Fannie Mae and Freddie Mac, which is increasing in 2020 to $510,400.
FHA is required by the National Housing Act, as amended by the Housing and Economic Recovery Act of 2008, to set single-family forward loan limits at 115% of median house prices, subject to a floor and a ceiling on the limits. FHA calculates forward mortgage limits by Metropolitan Statistical Area and county.

FHA’s 2020 minimum national loan limit, or “floor,” of $331,760 is 65% of the national conforming loan limit of $510,400. This floor applies to “low-cost areas,” which are counties where 115% of the median home price is less than the floor limit.


read more...

FAMP Continuing Education Classes!


Independent loan originators, new wholesalers and mortgage industry businesses on the rise! Take a look at upcoming continuing education classes in your area on FAMP state website!  

FAMP Events

FAMP Gold Coast Chapter

 

Gold Coast FAMP hosts Trade Show March 3rd!             

Register now for March 3rd FAMP Gold Coast Trade Show at Bonaventure Resort and Spa in Weston, FL!

Visit Gold Coast FAMP at fampgoldcoast.org, on Facebook, and on LinkedIn. Email us at emails@fampgoldcoast.org or call 954-986-0808.

FAMP Jacksonville Chapter

 

 

FAMP Jacksonville
Welcomes JAX Chamber Pres. On Jan. 23rd!

 Santa visited JAX FAMP holiday party!

 Visit FAMP Jax Facebook for more!


 
 

FAMP Central Chapter


Central Florida FAMP to host Table Top, ½ Day Boot Camp/ Underwriting SE and DISC training on Feb. 18th!

Feb. 18, 2020:  Table Top, ½ Day Boot Camp and Underwriting SE and DISC training at Hilton Orlando in Altamonte Springs; 350 Northlake Blvd, Altamonte Springs, FL 32701!

 

Visit FAMP Central Florida Chapter on Facebook.

FAMP Southwest Chapter



Thanks to all who donated toys at our holiday party!


 

FAMP Gulf Coast Chapter

 

Gulf Coast FAMP hosts pilot program to assist challenged clients to get “mortgage ready”!

April 17th: Golf Tournament at East Lake Woodlands includes golf, networking opportunity and pasta dinner for golfers and non-golfers. This partnership with the Pinellas Realtor Organization and CPAR, sponsored by True Concept Title, benefits Post 9/11 Veterans. Register here. 
              
Visit Gulf Coast FAMP website, on Facebook and on LinkedIn.

FAMP Lenders and Affiliates Committee


Thanks to Assured Partners for hosting the FAMP Quarterly Happy Hour!
 

The Lenders & Affiliates Committee would like to say THANK YOU to John Tankersley and Assured Partners  for their generous sponsorship of the happy hour at the 1st Quarterly Meeting in Orlando. 

The Lender & Affiliates Committee is dedicated to supporting loan originators and growing business opportunities mutually, while encouraging active participation and increase overall membership within our industry and industry related partners.

Contact Bryan Cronin at bcronin@elevatedtitle.com or Jerry Sanchez at jerry.sanchez@cardinalfinancial.com for more info.

FAMP Newsletter - January 2020