The new effective date for complying with FHA’s financial assessment guidelines is case numbers assigned on or after April 27, the U.S. Department of Housing and Urban Development announced this afternoon in Mortgagee Letter 2015-06.

“Due to a delay in delivery of certain system enhancements required to support the policies published in Mortgagee Letters 2014-21 and 2014-22, compliance with the financial assessment and property charge funding option requirements is now effective for HECM case numbers issued on or after April 27, 2015,” says ML 2015-06, which you can access by clicking here.


NAMB’s Legislative Conference is Near, Register Now!

The 2015 NAMB Legislative and Regulatory Conference will be held Saturday-Tuesday, April 11-14 in Washington, D.C. This is a “must attend” event for all mortgage professionals. Last year, more than 10,000 Realtors attended NAR’s Lobby Day. This year, NAMB would love to get 1,000 mortgage professionals to D.C. to help NAMB lobby on Capitol Hill. Join NAMB as the association rallies to fight for consumers, small business and mortgage professionals everywhere.

NOTE: Be sure to register today!  THIS IS A MEMBERS ONLY EVENT
The cost this year is $249 which includes the PAC Auction.
Click here for information on setting up your advocacy day appointments:

To download a copy of the schedule please click here 2015 Legislative Conference Schedule





Michelle’s Echo


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Join CAMP Today!
Join CAMP today to take advantage of our new membership benefits, discounts on education, webinars, and more!

Click here for more information!
Wednesday, February 24, 2015

I need to take a personal moment and say that this week is a hard week for me. I have a bunch of balls that I’m juggling right now and I keep thinking about the wonderful workshop that my friend Karen Bates gave at the Sales and Marketing Conference in Universal City last month. It is giving me the strength to continue on and take care of what needs to be taken care of. Most important, it is really good to know I am not alone. Thank you Karen for your strength and words to help me carry on. Your talk was truly an inspiration to us all!


If you have ever heard the Western Regional Director for the Consumer Finance Protection Bureau, Edwin Chow speak, you would have heard him say that the CFPB plans to visit all mortgage brokers and mortgage bankers (no matter how big or small) at least once. However, this proved to be a little too much for the CFPB to follow through. CFPB Deputy Director Steven Antonakes provided guidance for the CFPB’s risk-based approach to supervision last week. Mr. Antonakes commented on why “the traditional approach to supervision wouldn’t work at the Bureau.”  He explained that “visiting all of the banks and nonbanks under our jurisdiction on a set, regular schedule, as other federal agencies have in the past, would be impractical given their number, size, and complexity as well as the relatively small size of our examination force.”

He explained that the CFPB uses a common set of factors to ensure determinations are made in a consistent fashion.  He described these factors as generally falling into “one of three buckets: violation-focused factors; institution-focused factors; and policy-focused factors.”  Violation-focused factors include the severity of the violation “in terms of the number of consumers affected, the magnitude of the harm, and the nature of the violation,” whether the violation has ceased or is ongoing, and the importance of deterrence.  He observed that if “we suspect a troubling practice is widespread, we may want to put the entire industry on notice through public enforcement actions.” Click here to read the entire article: Click Here

Lending Designation:

Have you seen the different designations behind most Realtors names? Certified Green Realtor or Certified Residential Specialist just to name a few. Have you ever thought how having a special designation on the mortgage side would possibly help differentiate you from the other “senior loan officers?” Well, I’ve really started thinking about this because Senior Loan officer or Senior Mortgage Planner is not something you earned and anyone can use those titles. Now, if you really haven’t been in the mortgage industry for long, why would you use this designation? But I met a loan officer that was new to the business. She had been in the industry just 6 months at the time (and looks like she just graduated from high school). We exchanged cards and her title was Senior Loan Officer. I asked why she had that as her title and she said everyone in her office had the same title. I’m sorry, that’s just wrong! It’s time we differentiate ourselves. I signed up for NAMB’s Certification and I hope to take the test in the next couple of month. They are working on a crash course to make sure you will pass the test. If you would like to have more information and to see what you can apply for, click here: NAMB Certification

Legislative Update:

The bills have been trickling in on the state side. There are a couple that we are seeking more information from the legislators but we still have a couple more days before the February 27, 2015 deadline when the State Legislators can introduce bills for this year. We will continue to monitor the bills to make sure we know in advance anything that could affect the consumer. So far, it is pretty quiet on the state legislative front.

On the Federal side, H.R. 685 the Mortgage Choice Act of 2015 has been released. We are watching this bill. Also, April is fast approaching. Your CAMP and NAMB Government Affairs committees are working hard on talking points for the NAMB Legislative Conference. Are you thinking about joining us this year? We will help you with talking points and you would not have to walk the halls alone. Mark your calendars for the NAMB Legislative Conference. You should consider making the trip to Washington at least once. It is amazing to get a chance to be a part of the legislative process. The conference will be April 12-14, 2015 and it will be held at the Hyatt Place.  Click here to register: NAMB Legislative Conference


Join NOW!

How can you help those who are trying to help you? Well, not everyone is in a position to donate their time to their trade association. Not everyone wants to get out and talk to their legislators but everyone can do the most important thing of all. If you are not already a member, you can join now. If you are a member, you can get a friend or co-worker to join. The more members that we have, the higher the credibility we have with our legislators. Help us make a difference! Click here to join: CAMP Membership Link 


Chapter Events





Greater Sacramento Chapter CAMP Presents Networking Mixer at Stones Gambling Hall on Thursday, March 12, 2015 from 4:00pm to 7:00pm at Stones Gambling Hall, 6510 Antelope Rd, Citrus Heights, CA. Go to for more information.

Silicon Valley CAMP Presents Secondary Markets with Rob Chrisman on Friday, March 13, 2015 from 8:30 to 10am at Three Flames Restaurant, Banquet Room 1547 Meridian Ave, San Jose, CA. To RSVP and more info, go to

San Francisco Peninsula CAMP Presents Tax & Financial Planning for Mortgage Professionals on Wednesday, March 16, 2015 from 4:30 to 7:30 at Dominic’s @ Oyster Point, 360 Oyster Point Blvd, South San Francisco, CA. Contact for more information.


CAMP Statewide Calendar

If you would like me to include upcoming events

please send me an email.

Until next week,


FEBRUARY 24, 2015
Contact: Eric C. Peck
NMP Media Corp.
(516) 409 5555, ext. 312
First Annual NAMB Wholesale Summit to Help Shape the Future of the Marketplace

Mortgage professionals to gather with 15 top lenders to discuss growing market share, compliance and increasing profitability

FEBRUARY 24, 2015—NAMB—The Association of Mortgage Professionals will host its inaugural Wholesale Summit on March 21, 2015 at the Hyatt Place Orlando Airport in Orlando, Fla. The event will bring together 15 of the nation’s top wholesale lenders who will come together for a day-long agenda that will discuss how wholesale lenders can grow market share and explore marketing, compliance and profitability issues facing wholesalers and mortgage originators.

The event will be preceded and followed by pre-Summit and post-Summit half-day meetings for NAMB officers and board members, making the entire event run from Friday-Sunday, March 20-22.

The concept of the Summit was born last fall when NAMB President John Councilman, CMC, CRMS attended a Wholesale Breakfast meeting at the 2014 Northeast Conference of Mortgage Brokers in Atlantic City. The event was hosted by National Mortgage Professional Magazine, which was represented at the event by Andrew Berman. When Councilman saw the openness with which the VIP representatives of the wholesale lenders in attendance answered Berman’s questions, he was impressed. He later approached the NAMB board with the idea of hosting such a forum for wholesale lenders as a means of laying the foundation for future industry growth.

The goals of the inaugural NAMB Wholesale Summit will be to brainstorm and exchange ideas on how to change the legal environment where everyone wins, from consumers to mortgage brokers to correspondents, and even large banks and lenders.

“When I walked into that wholesaler breakfast, a few of the wholesale lender VIP’s began talking among themselves and I joined in the conversation,” Councilman said. “They were bringing up many common areas of concern that could only be met by having an extended conversation. The Wholesale Summit is merely that, an extended conversation of common goals and concerns. The overall goal is to improve and enlarge the sphere of wholesale lending. The Summit will bring together leaders from both the origination side and the lender side who have great experience and expertise. These are people who can make meaningful changes that are not possible in most originator-to-lender dialogue.”

Councilman pointed out that many recent mortgage industry conferences have focused on compliance to the exclusion of other important topics. He stressed that only a united community can press to have laws and regulations that are clear, concise and meaningful, while serving to protect the consumer. Although regulation is high on NAMB’s priority list of needed revisions, working together to create greater profitability is important. In addition, while many originators and entrepreneurs have been assimilated into larger companies due to high compliance risk, NAMB research indicates that many would like to return to operating their own business.

“Working with multiple lenders is not an easy task today,” Councilman said. “In addition to overlays, each has significant procedural, technological and compliance differences. On the flip side, it is not at all clear that mortgage brokers and originators fully understand their relationship to their lender partners. Wholesale lending desperately needs the simplicity and accountability that is found when operating as a branch or as a lender originator.”

“This Summit is the first step in NAMB trying to bring together the wholesale market to make it better for everyone,” said Donald Frommeyer, CRMS, NAMB CEO. “The vision is to have all of the moving parts join forces with the goal of simplifying our business and gaining market share. It is all about working together to improve what we have now.”

By the early registration deadline, 15 major wholesale lenders have signed up to be participant sponsors of the event, including: Angel Oak Mortgage Solutions, B2R Finance, Carrington Mortgage Services, Freedom Mortgage, HomeBridge Wholesale, Impac Mortgage, Land Home Financial Services’ Wholesale Division, Lenders Compliance Group, New Penn Financial, Quicken Loans, REMN Wholesale, United Wholesale Mortgage, U.S. Bank, Velocity Commercial Capital and WholesaleOne.

Each of these participant sponsors may bring up to three executives to the Summit, all of whom will take an active role in the day’s discussions—including special roundtable workshops, panels and interactive exploration of issues and solutions. Participant sponsors will be identified as such in all pre-and-post event communication to NAMB members, and in all public relations initiatives regarding the Summit, including reports and white papers that are expected to be a byproduct of the meeting. Only participant sponsors will be allowed to engage in full discussion on agenda topics during the Summit sessions.

Attendee registration is available for mortgage industry supporters and professionals who wish to be present at the Summit, to listen to the proceedings in person, and to network with NAMB leadership and participant sponsors during meals, breaks and receptions. Although attendee registrants will be allowed in the meeting room during the Summit, they have “spectator capacity” only, and are not allowed to ask questions, make comments or otherwise engage with the participants during the Summit’s agenda sessions.

Registration for the Summit officially closed Feb. 20, but NAMB will accommodate a certain number of late registrations on a first-come/first-served basis. The event is limited to fewer than 100 total seats in all, so anyone hoping to attend will need to contact NAMB immediately. For more information about the NAMB Wholesale Summit, please click here. To register as a participant or attendee, please click here.


NAMB—The Association of Mortgage Professionals, is a trade association of mortgage professionals with membership in all 50 states and the District of Columbia. NAMB provides education, certification and government affairs representation for the mortgage industry. For more information, visit the NAMB website.


Monday Morning Messenger for Monday, February 23

Monday, February 23
This week I spent a few days in a warmer spot than Indianapolis. I was in San Diego for the 2015 NMLS (Nationwide Mortgage Licen



Harvard study shows Dodd-Frank just made everything worse

Dodd-Frank? More like Dodd-Frankenstein

February 13, 2015

So earlier this week I was in Las Vegas for the IMN/Structured Finance Industry Group’s ABS Vegas convention.

And I want this on the record – nothing happened. Nothing. Any security guard at the Bellagio, left shark imitator, or street magician with one leg who says otherwise is a dirty liar. Also, she didn’t have an Adam’s apple.

Also my Twitter was hacked.

Anyway, I sat down with Barney Frank to discuss his eponymous, co-authored bill, the Dodd-Frank Wall Street Reform Act.

I wore my sorta objective reporter cowboy hat and didn’t get in his way, even if some of the time he was giving his version of recent history I kept seeing a Venn diagram in my head.

One of the most salient questions came as a submission from a reader.

HW: Have regulators lost sight of the fact that Dodd-Frank was meant to end “too big to fail?”

Frank: I think they’ve done everything they could. There’s this stupid notion that a regulator is doing a favor by designating a financial institution as systemically important. We do recognize there are institutions that are institutionally too big to fail without doing something about their debts. But that’s different.

Well, as with gambling in general, timing is everything. Three days after our sit down comes this study of the effects of Dodd-Frank by the Harvard Kennedy School of Business that concludes that Dodd-Frank made “Too Big To Fail” even bigger.

Interestingly, we find that community banks emerged from the financial crisis with a market share 6 percent lower, but since the second quarter of 2010 – around the time of the passage of the Dodd-Frank Act – their share of U.S. commercial banking assets has declined at a rate almost double that between the second quarters of 2006 and 2010. Particularly troubling is community banks’ declining market share in several key lending markets, their decline in small business lending volume, and the disproportionate losses being realized by particularly small community banks.

Bottom line? Regulatory compliance costs have driven consolidation since 2010.

Worse, some of the biggest losers have been consumers, because the burden of that compliance cost is dragging on consumer lending.

Professor Scott Shane of Case Western Reserve University recently noted in Bloomberg Businessweek that a complex web of regulatory burdens is impeding the ability of banks to lend to small businesses. And a recent Harvard Business School working paper coauthored by former U.S. Small Business Administrator Karen Mills reported that regulatory burdens may be impeding community banks’ ability to participate in small business lending markets. In the late 2014 ICBA survey, 26 percent listed “regulatory burden” as a factor hindering consumer lending.

In addition, regulation – as opposed to market forces – appears to be an increasingly powerful force driving the growth of bank mergers. A May 2014 Wall Street Journal analysis of SNL Financial data found that community bank mergers increased 30 percent between May 2013 and May 2014. An October 2013 Bloomberg Businessweek story reported on banks engaging in “buying sprees” in response to regulatory pressures once they crossed the $10 billion threshold. A 2012 study found that community banks listed regulatory changes as the most common reason (38 percent) for M&A activity, and a 2013 study concluded that the top factor (35 percent) for information technology spending on infrastructure or compliance by community banks is “leveraging data more effectively for regulatory requirements.” In 2011, community banks reported to the FDIC that the problem was not any single regulation, but rather the web of regulations in their totality. The result? The Mercatus Center survey reported that 83 percent of small banks believe compliance costs have increased at least 5 percent since the passage of Dodd-Frank.

So what Dodd-Frank led to was more concentration and not less in lending, which of course hurt small businesses the hardest, who among institutions also suffered the most from compliance costs.

A 2014 Mercatus Center at George Mason University survey reported that over one-quarter of community banks (defined as those with less than $10 billion in assets) would hire new compliance or legal personnel in the next 12 months, and that another quarter were unsure about whether they would do so. It also found over one-third of banks had already hired new staff in order to meet new CFPB regulations. Another 2014 Minneapolis Fed study highlighted the perilous consequences of regulation-driven hiring at the smallest community banks (those with less than $50 million in assets), which, according to our calculations, in Q2 2014 accounted for 11 percent, or 682, of depository institutions (consolidating at the holding company level). At these institutions, the study found that hiring two additional personnel reduces median profitability by 45 basis points, resulting in one-third of these banks becoming unprofitable. As Fed Governor Tarullo has noted, “Any regulatory requirement is likely to be disproportionately costly for community banks, since the fixed costs associated with compliance must be spread over a smaller base of assets.”

And on helping consumers, Dodd-Frank is a bust.

All this consolidation and concentration has limited consumer choice to the detriment of small lenders and to the benefit of the original TBTFs. The Harvard study proves this beyond all shadow of a doubt.

As for eliminating TBTF, or ameliorating it by managing their debts as Frank told me – also a big goose egg.

In fact, it proved only the most basic free market truism – that when government and big, established businesses collude to write regulations supposedly for the benefit of consumers or society in general, what they write is regulations that benefit the big, established businesses and squeeze out smaller players.

Most regulation isn’t there as anything but a barrier to entry for competitors. That’s what big business and their lobbyists are paying for. The burden falls on the small guys, who get pushed out or bought up by the big fish.

Progressives like Frank like to look at real free market businesses and honest companies and say, “You didn’t build that.”

I guess in turn, the rest of us can look at the ever-expanding money laundry that runs from Wall Street to K Street and into the Capitol – the Dodd-Frankenstein monster that is Too Big To Fail – and say “Yeah, you built that.”

As is hopelessly, and invariably, the case, the cure sold by the snake oil salesmen in political office and the corner office was worse than the initial ailment.

We all will just need to live with that.




Michelle’s Echo


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Click here for more information!
Wednesday, February 11, 2015

As time quickly marches on, we are looking at a short month and a holiday. Of course, we can’t forget about Valentine’s Day either. The good thing is it comes on a Saturday this year…actually, it comes with  a three day weekend! Either you like Valentine’s day or feel like it’s a day that was created by card companies to make you spend more money (I’ve heard that several times), it can be a time to let someone  know you are thinking of them. A loved one can be a family member, a friend, significant other or a secret crush. A day or weekend spent with a loved one is always a good thing.  If you get a chance to break away, I hope your day is perfect!

There is a lot going on in the mortgage industry at this time. Interest rates are good, we are experiencing a mini refi boom – getting those last customers that you were not able to refinance before and still working on those purchase prequals. Not much time to focus on other things. Well, as you know, changes are usually made when they are most inconvenient. Is there something major coming soon? Just the integrated disclosures which will be in effect August 1, 2015. You may be thinking, we have a long way off so I really don’t need to focus on this but now is the time to take focus. You need to know how lenders are going to implement these changes. Your local CAMP chapters will have several events to help guide you through these changes.

I’m sure you’ve seen the emails that we have sent out about the Top Producer Round Table. This event is designed to inspire LO’s with best practices from top producing loan originators from different parts of the country, and a 60-day plan of action to implement. Some of the topics include how to save time and create more efficiency in your loan process, how to grow Realtor relationships in light of the CFPB’s recent rulings on MSAs, and how to diversify your sources of business to include CPAs attorneys and financial advisors. We have four events to choose from in California. Click Here to Sign Up for the Event

Legislative Update:

Your State Legislators have until the end of the third week of this month to introduce bills for this year and we are currently monitoring the bills to make sure we know in advance anything that could affect the consumer. So far, it is pretty quiet on the state legislative front.

Mark your calendars for the NAMB Legislative Conference. If you have not had the experience to go to Washington DC and meet with your legislators at the Capital, you really should earmark some time to do it. The conference will be April 12-14, 2015. I will be sharing the link for the event soon!

Join NOW!

How can you help those who are trying to help you? Well, not everyone is in a position to donate their time to their trade association. Not everyone wants to get out and talk to their legislators but everyone can do the most important thing of all. If you are not already a member, you can join now. If you are a member, you can get a friend or co-worker to join. The more members that we have, the higher the credibility we have with our legislators. Help us make a difference! Click here to join: CAMP Membership Link 




Chapter Events



Tonight: East Bay CAMP Presents LIVE MUSIC!  Mardi Gras in Walnut Creek Crab Feed 2015 from 6pm to 9pm at Shadelands Art Center, 111 N. Wiget Lane, Walnut Creek, CA.




Tomorrow: Greater Sacramento CAMP Presents Networking Mixer on Thursday, February 12, 2015 from 4 pm to 7 pm at ASR Restaurant and Lounge, 390 N. Sunrise Avenue, Roseville, CA 95661. For more information and to RSVP

Silicon Valley CAMP Presents Breakfast Round Table on Friday, February 13, 2015 from 8:30 am to 10 am at Flames Restaurant, Banquet Room, 1547 Meridian Avenue, San Jose, for more info.


North Bay CAMP Presents Sales and Marketing Strategies for 2015 with David Luna on Thursday, February 19, 2015 from 9am to 1pm at Finely Community Center, 2060 College Avenue, Santa Rosa, CA. Contact Rick Reith for more information.

Silicon Valley CAMP Presents Sales and Marketing Strategies for 2015 with David Luna on Friday, February 20, 2015 from 10 am to 2:30 pm at SCOAAR Training Room, 1651 North First Street, San Jose, CA. Lunch is provided. Visit for more info.


CAMP Statewide Calendar

If you would like me to include upcoming events

please send me an email.

Until next week,


Mortgage Industry Mourns the Loss of NAMB Past President George Hanzimanolis


On Feb. 5, the mortgage industry got the sad news that longtime active member of the Pennsylvania Association of Mortgage Brokers and NAMB—The Association of Mortgage Professionals Past President George Hanzimanolis of Bartonsville, Pa. passed away after suffering a heart attack at the age of 53. George is survived by his wife of 31 years, Kimberly; his son, James; and his parents, James and Sharyn Hanzimanolis.

Over the years, George accomplished much locally and nationally, first with his involvement with the Pennsylvania Association of Mortgage Brokers, and his involvement on the national level with NAMB. He was honored by his industry peers both locally and nationally with the honor of Broker of the Year for the state of Pennsylvania and was named Mortgage Broker of the Year by NAMB. His volunteer efforts grew from his time spent on the Board of Directors of PAMB, rising to the position of PAMB president, leading to a long-term tenure and involvement on the NAMB national Board of Directors, eventually leading to his taking the gavel of NAMB’s presidency.

“George was one of the great NAMB presidents,” said John Councilman, CMC, CRMS, current president of NAMB and president of AMC Mortgage Corporation. “George fought tirelessly for mortgage brokers and originators. But more than that, he was a man with a big heart. It was never about George; it was always about NAMB, his friends or his clients.”

According to a write up in the Pocono Record, George first worked at The Spa, a family restaurant in Harrison, N.J., before moving to Pennsylvania in the late 1980s. He built a successful business, Bankers First Mortgage Inc. of Tannersville, Pa., and was requested to speak about ethics on the floor of the U.S. Senate in Washington, D.C., and on CNBC.

Donald J. Frommeyer, CRMS, chief executive officer of NAMB, recalled his time spent on the board of the association with George.

“From my first day on the Board, George made me feel like an equal in the mortgage business and in serving on the Board,” said Frommeyer. “His compassion for the industry and for the membership of NAMB were always in the forefront of what he accomplished in his term of his presidency. His devotion to his family, especially his son, was evident from the first time that I met him. His genuine smile was his introduction to you, and he always listened to anything that you had to say. I was honored to call him my friend, and he will be greatly missed.”

“George was a gentle giant that was both a great friend of mine and the mortgage profession,” said Joel M. Berman, publisher of National Mortgage Professional Magazine. “His leadership of NAMB as president stood out, as he sacrificed both his business and family to accomplish his agenda for the industry. When he was moving up the ladder to president at the NAMB Annual Convention, he proudly brought many members of his family to share in this moment. I also remember years ago, after his presidency, he joined myself and my former partner, Russ Sickmen, to meet with a potential NAMB Industry Partner. He drove 14 hours round trip that day from Pennsylvania to Long Island, N.Y. for that meeting. His passion for the mortgage professional was second to none, and came across strong because he left Long Island that day with a commitment for a new NAMB Platinum Industry Partner and a $100,000 pledge to NAMB. He just wouldn’t take no for an answer. His smile and passion will be missed, and I extend my deepest condolences to his family at this time.”

George’s longtime friend from his home state of Pennsylvania, Michael J. D’Alonzo, CMC of MB Financial Bank, NAMB 2010-2011 president, said, “George was an exceptional leader, mentor and friend. He was a selfless person who constantly gave of himself and asked for nothing in return. He was an incredible advocate of the mortgage industry, but an even bigger advocate of his family and friends. George was bigger then life and he will be missed.”

In lieu of flowers, George’s family is requesting that donations be made to Boy Scout Troop 85 of Bartonsville, Pa. He was a lifelong active member of the Boy Scouts of America and an Eagle Scout, and more recently, a Scoutmaster for Troop 85 in Bartonsville.

Harry H. Dinham, CMC, NAMB past president and member of the association’s board under George’s presidency, said, “He was a good friend and a true ambassador for the mortgage industry. There were many things that he was passionate about, but the ones that stick with me most were his dedication to his family, the Boy Scouts and helping families get their dream homes. He used to talk about the consumers he had helped like family because that’s what they were to him. He will be missed by all of those whose lives he touched.”

“George deserves to be recognized by every mortgage professional for his enormous contributions to the mortgage industry, his successful leadership of NAMB, and as a loving and devoted husband, father and son who always put his family and friends first,” said Russ Sickmen, former president of National Mortgage Professional Magazine and longtime acquaintance of George. “It is my privilege to have been able to call him a friend. I know he will be enormously missed by myself and his family, friends and the thousands of individuals he has helped throughout his personal and professional life. George was a true community leader.”

“George served in many positions with NAMB, but he should be remembered most for his willingness to listen and extend a helping hand to anyone who needed it,” said Jim Nabors, NAMB 2005-2006 president. “His generosity will be missed as much as his knowledge and love of our industry. I considered George one of my closest friends and hope that everyone will remember him for all he did and wanted to do to make our industry a better place. Mostly, I want his son Jimmy to know how much his dad loved him and how he was constantly in his father’s mind. No matter where we were at or what we were doing, our sons always became part of our conversations. I’ll miss him greatly.”

Donald E. Fader, CRMS of SMC Home Finance in Kinston, N.C., 2012 NAMB National Mortgage Professional of the Year and former director of NAMB, fondly remembered his first meeting with George.

“My first memory of George was at the 2002 NAMB Annual Convention in Baltimore,” said Fader. “At that time, he was bigger than life and wearing multiple ribbons denoting awards, achievements and his involvement with NAMB. I served on the board during his term as president and can only say that our industry has lost a good friend and a tireless defender of the small independent mortgage professional. He made a difference. My thoughts and prayers are with his family.”

E. Robert Levy, executive director and counsel for the Mortgage Bankers Association of New Jersey (MBA-NJ), worked with George on a number of legislative and regulatory issues facing the state of Pennsylvania on the local front.

“George was one of the key participants on the Joint Council, which lobbied on behalf of both PAMB and the Mortgage Bankers Association of Pennsylvania,” said Levy. “I recall many meetings with the PA Department of Banking on behalf of the industry when George’s expertise and the manner in which he was able to express the industry’s viewpoints on critical issues was invaluable in obtaining the right result on significant regulation and legislation. As busy as George was, he always had time for his family. George was a good friend to many of us and we will miss him greatly.”

NAMB Past President Bob Armbruster remembers, ”George was committed and dedicated to the entire mortgage broker community. He should be praised for his service and contributions to the mortgage profession. He will be missed.”

Current NAMB Director Linda McCoy,CRMS, broker/owner and mortgage planner with Mobile,. Ala.-based Mortgage Team 1 Inc., said, “George was one of the first members I met when I became a director at NAMB. He welcomed me like an old friend when I showed up in Philadelphia to be sworn in. I will say by the time I left there he had made quite an impression on me. I knew he loved NAMB, and wanted me to love it too. I know he gave a large part of his heart to the organization and we will miss him greatly.”

Bill Howe, who served NAMB as president and worked with George for several years on NAMB’s board, said, “I was on the Board when George made his rise to president of NAMB. I must say that George served with great humility and humor. It was a pleasure to serve when George was on the Board of Directors.”






















Ask Your Representative to Cosponsor

H.R. 650, the Preserving Access to Manufactured Housing Act


Members of the House Financial Services Committee have reintroduced legislation to alleviate regulatory burdens that
have impeded consumers’ ability to purchase manufactured housing. H.R. 650, the
Preserving Access to Manufactured Housing Act of 2015
was introduced on Monday by Representatives Stephen Fincher (R-TN), Terri Sewell (D-AL), Andy Barr (R-KY), and Kyrsten Sinema (D-AZ).


The bill changes the thresholds that have caused small balance manufactured home loans to be classified as high-cost
and it clarifies that manufactured home retailers and salespersons are not loan originators as long as they are only receiving compensation for the sale of the home and not engaged in financing the loans. Read
the text of the bill here


The legislation was passed by the House Financial Services Committee by a voice vote last year, but Congress adjourned
before the bill moved all the way through the legislative process. Because it is now a new session of Congress, the bill had to be reintroduced. When a bill gets reintroduced, the cosponsorship list goes back to zero, even though last year’s bill had 114 cosponsors.
Please help us increase the cosponsorship list quickly.  We need members who cosponsored the bill last year to add their name as a cosponsor of this new bill. And, we need to move the cosponsorship number higher than last year – our goal should be 218 cosponsors.


Ways You Can Help Increase Cosponsorship of H.R. 650:


Send an Email to your Representative.
Click on the following button: Email
  Follow the simple steps. The email has already been drafted for you.  All you have to do is insert your home address and click send.


Call your Representative’s Office.  Call
the Capitol Switchboard at (202) 224-3121 and ask to be directed to your Representative.  If you are not sure who represents you in Congress, tell the operator the zip code where you live and they will connect you to the right office. Ask that your Representative
cosponsor H.R. 650. Tell them that manufactured housing is a critical resource for working families across the country.  Let them know this bill is critically needed because it alleviates the regulatory burdens that have impeded consumers’ ability to purchase
manufactured housing.


Visit the District Office.
Members will be in a “district work period” from February 16 to 20. This means that there will be no votes in the House of Representatives that week and the Members
will be working from their district offices. Call your Representative’s local office and schedule a meeting during the upcoming “district work period.” Meet with your Representative or their staff and tell them that manufactured housing is a critical resource
for working families but regulatory burdens have impeded consumers’ ability to purchase manufactured homes. Ask them to cosponsor H.R. 650 to alleviate the regulatory barriers that have hampered the market. Give them a copy of the
page bill summary
as a leave-behind. After the meeting, be sure to follow up to thank them for the meeting and renew your cosponsorship request. 

If you have any questions, please contact MHI’s Senior Vice President, Government Affairs, 

Lesli Gooch, Ph.D. at (703) 558-0660 or

Please take action quickly to request your Representative cosponsor the bill – and send this alert along to others
in your organization to do the same.






© 2015, Manufactured Housing Institute, Inc. (MHI), all rights reserved.  Republication without the express written consent of MHI is strictly







Support the NAMB Legislative Action Fund Today

Click here to Donate

Dear Mortgage Professional,

 I want to announce the special release of the NEW Limited Edition NAMB Commemorative 2015 Pin!  This stylish and collectible lapel pin will identify you as a strong supporter of NAMB’s
Government Affairs efforts, and with your generous contribution of $50 or more, you will be helping ensure NAMB maintains its stature and position as 
the national voice of the mortgage

 With a new Congress in session and a huge election year in 2016 on the horizon, we expect to see a tremendous amount of activity this year in
Washington, D.C. and across the country.  NAMB absolutely must remain in the center of it all. 

 NAMB’s Government Affairs team continues to fight for the interests of consumers and mortgage professionals every day by seeking to improve to rules and regulations that are negatively
impacting our industry and our customers. 

 In December, NAMB announced a new initiative to help bolster the Association’s Government Affairs activities.  We are calling this initiative the NAMB Legislative Action Fund.

 The NAMB Board launched the Legislative Action Fund in response to requests from mortgage professionals across the country who were looking for a way to specifically contribute
to and support NAMB’s Government Affairs efforts
.  The Legislative Action Fund is aimed at bolstering NAMB’s Government Affairs activities by providing additional financial support to help ensure:

  1. NAMB is present and represented at important political events in Washington, D.C. impacting the regulation of our industry;


  2. NAMB leadership, in conjunction with state association leadership, is able to facilitate in-state and in-district meetings and build strong local relationships with key legislators; and


  3. NAMB can retain the highest quality professional representation on legislative and regulatory issues.  

In recognition of your generous contribution, and as a token of our sincere thanks
for your continued support of NAMB’s Government Affairs initiatives, we are offering this limited edition commemorative NAMB 2015 pin to everyone who contributes at
least $50 to the NAMB Legislative Action Fund



Thank you!



John G. Stevens, CRMS


NAMB – the Association of Mortgage Professionals


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