May-June 2020

President's Message

Message from FAMP President Gino Moro...
While time may heal some things, the mortgage industry is not just waiting around to see if time can do it alone. Normalcy is the goal and the past month has been filled signs of progress towards recovery. We are not out of the woods yet, but with refinancing at record highs and some of the of the Non-QM products making their way back into market, it certainly feels like we are on the right track.

FAMP will continue to take actions that support you, our members, and our industry. It is more important than ever to share knowledge and stay informed and FAMP has numerous tools to help our members do just that. Look for resources and updates on our website, in our newsletters and the weekly webinars that we have been providing since the beginning of this pandemic.

Looking forward we will continue to monitor the CDC’s and our local Government’s recommendations and guidelines as this pandemic matures.  It is especially important since the high season for Continuing Education (CE) is right around the corner and there is a tremendous amount of excitement as it relates to our Annual Convention Trade Show coming up in August. Look to our website for more information!

FAMP has so many incredible people in our Association. The generosity of our Sponsors and Speakers in our webinar series has been so impactful. I want to thank all the people that have contributed their time to FAMP’s members and to our industry over the last few months. Our elections are approaching soon, and I would like to invite those of you that are interested in becoming more involved to reach out to

FAMP is concerned for the health and well-being of our members, staff, and our community. We urge everyone to take precautions to protect themselves. If you are not already a FAMP member, support your industry and join today.

On behalf of your FAMP Family,

Gino Moro
FAMP President

Remembering Seymour B. GoldĀ 

In the late 1950’s, Seymour Gold, along with a few others, was approached by Florida legislators with an intriguing suggestion. The legislators told them that a Statute controlling Mortgage Brokers and Lenders was going to be passed and suggested that they start a professional association to represent Mortgage Professionals in Florida. And so, the Florida Association of Mortgage Brokers (FAMB) was founded.  Both Seymour and his wife Elaine were very involved in FAMB with Seymour serving as State President in 1976.  After that, he was involved in founding the original National Association of Mortgage Brokers (NAMB) and served as its President in 1983.  Seymour’s goal was to make sure that a Mortgage Broker was considered a Professional in the eyes of both the consumer and the regulators.        



Mortgage Industry News!

We heard you! Thanks to those who responded to survey questions in last month’s newsletter. Look for survey answers in the June/July newsletter.

Join CIC Credit on May 21st at 3pm EST for Free webinar on Understanding the impact on credit under the Forbearance program. 

Register here!


Fannie Mae, Freddie Mac: Borrowers in forbearance can defer all missed payments until the end of the loan...

GSEs unveil new payment deferral option for loans in forbearance
May 13, 2020 | By Ben Lane | Housing Wire
With nearly 4 million borrowers in forbearance on their mortgage, we still don’t have a complete picture of what happens when forbearance periods end. Borrowers got some clarity on the situation last month, when Fannie Mae and Freddie Mac said that borrowers are not required to repay all their missed payments at once.
And as it turns out, borrowers in forbearance may not have to repay their missed payments at all until the end of their loan thanks to a new repayment option from the GSEs.
Fannie Mae and Freddie Mac announced Wednesday that they are rolling out a new payment deferral option for borrowers in forbearance.
Read more here!

But… Forbearance becomes a ‘Scarlet Letter’ on credit reports

A 'comments section' workaround consumers aren’t being told about
May 12, 2020 | By Kathleen Howley | HousingWire
Mortgages in forbearance as a result of COVID-19 have to be reported as “current” on credit reports.
That’s the law, as laid out in Section 4021 of the CARES Act passed by Congress at the end of March. It says servicers “shall report the credit obligation or account as current.”
But, it turns out there’s a workaround that can make it difficult for people with mortgages in forbearance to get another home loan after the COVID-19 crisis is over – for as long as a year after the forbearance period ends. That can impact their ability to refinance or buy a home when times are better.     More…

Fannie Mae predicts highest refinancing volume in nearly a decade
May 14, 202 | By Brad Finkelstein | National Mortgage News

Continued low interest rates due to the coronavirus-economic contraction likely means that 2020 will have the largest refinance volume in eight years, Fannie Mae's latest forecast said.
"We expect the contraction in the second quarter of 2020 to represent the floor of the sudden and historic drop in economic activity associated with the coronavirus," Fannie Mae Chief Economist Doug Duncan said in a press release.     More…



FAMP Chapter Updates!

Just a Reminder
FAMP Chapter Events just around the corner!

FAMP Central Florida provides Homestyle Renovation FREE webinar on May 19th at 3pm EST Click here to register!

Speaker Carla Meyers/Loan Depot
Visit FAMP Central Florida Chapter on Facebook, email or call 407-399-6120.

Join Gulf Coast FAMP chapter for a FREE ZOOM.US meeting BUILDING A RESILIENT BUSINESS COMEBACK  on May 20th from 9-10am EST

with Juliet Kyes, Business Partner with Action Coach!
Visit Gulf Coast FAMP website, on Facebook and on LinkedIn.


FAMP Gold Coast Chapter
invites you to a FREE Informative Webinar FHA Manual Underwriting I Credit Fundamentals on Thurs., May 21st at 1pm EST!
Click HERE to register!
Thanks to sponsor Carrington Mortgage Services!
Visit Gold Coast FAMP at, on Facebook, and on LinkedIn. Email to or call 954-986-0808.


Out of
Gulf Coast FAMP and presented by NMP, How to Use a New Resource Website to Get Challenged  Clients “Mortgage Ready”!  
May 28th webinar from 3:30-4:30pm EST
Introducing, a website resource that shows loan originators and real estate agents how to partner with HUD housing counselors and credit counselors to assist challenged clients to get "mortgage ready". The site focuses on three areas that commonly hinder clients from purchasing a home:
1) help with short and long-term credit (but NOT credit repair!)
2) Downpayment assistance availability
3) Home Budgeting          Register here.
Visit Gulf Coast FAMP website, on Facebook and on LinkedIn.

Can’t wait for Miami FAMP  2020 FOCUS ON THE FUTURE Mortgage Tradeshow!
Nov. 19 from 8am to 10pm at Doubletree Hilton in Miami. Register now.
Visit Miami FAMP at, on Facebook,  and on LinkedIn.


FAMP chapters are looking for mortgage industry professionals who want to contribute to the mortgage industry, desire industry education and want to be involved in networking events that include mortgage peers and affiliates.
Contact the chapter nearest you for more information!
Welcome Back, Suncoast FAMP Chapter!
We are excited to have Suncoast FAMP back as an active chapter with the state FAMP!
Visit Suncoast FAMP at FAMP Suncoast Chapter.
Also, call 941-243-4117.

Stay in touch with us at FAMP Jax Chapter and on Facebook.


Southwest FAMP A heart for veterans!

Visit FAMP SWFL Chapter on Facebook , email or call 239-565-1031.
The FAMP Lenders & 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 or Jerry Sanchez to find out how to connect to FAMP chapter events


Click on Florida Association of Mortgage Professionals Statewide Calendar of Events to see upcoming events and education classes!

FAMP Newsletter - May-June 2020