News
April 14, 2020
MMBA Urges FHFA, Fannie Mae and Freddie Mac to Make Changes to Support Homeowners and Lenders During COVID-19
The MMBA is urging the Federal Housing Authority (FHFA), Fannie Mae and Freddie Mac to make three important changes to policies impacting consumers seeking mortgage refinances or forbearances:
- Expand the use of a desktop appraisal or an exterior-only appraisal for all refinances and/or allow appraisers to use technology for obtaining interior inspections in alternative ways.
- Honor purchase commitments for mortgages for consumers experiencing COVID-19 financial distress after loan closing who have applied for a forbearance.
- Support the Federal Reserve using its authority under Section 13(3) of the Federal Reserve Act to provide liquidity for the residential and commercial mortgage servicing sector.
February 5, 2020
MMBA Hosts Annual Dinner & Installation of Officers
Quilty of Residential Mortgage Services Installed as Chair
On January 23 more than 180 members of the MMBA attended the Massachusetts Mortgage Bankers Association’s Annual Dinner & Installation of Officers at the Blue Hills Country Club in Canton, MA. Mary Gallagher, Commissioner of the Division of Banks for Massachusetts, was the guest speaker and shared information about the Division’s priorities and initiatives. During the dinner, the MMBA’s 2020 officers and directors were elected. These individuals will be instrumental in developing and implementing the MMMBA’s strategic initiatives throughout the year. Read the press release for list of newly installed officers and the newly elected directors, as well as highlights from the event.
February 3, 2020
MMBA Recognizes the 2019/2020 Class of Rising Stars in the Mortgage Industry
The Massachusetts Mortgage Bankers Association celebrated the 2019/2020 Rising Stars in the mortgage industry. The MMBA celebrated seven young professionals whose passion and ingenuity are an inspiration in the workplace and in the mortgage lending field. These leaders were recognized at the MMBA Annual Dinner on January 23rd at the Blue Hills Country Club in Canton, MA. The individuals selected as 2019/2020 Rising Stars include:
- Catherine Becerra, Secondary Market Team Member, Digital Federal Credit Union
- Justin Raymond Coscia, Residential Lending & Technology Consultant, Spillane Consulting Associates, Inc.
- Andrew Edwards, Financial Analyst I, Residential Mortgage Services, Inc.
- Ashley Flynn, Senior Loan Processor, Bridgewater Savings Bank
- Ingrid Han, Quality Assurance Associate, Embrace Home Loans, Inc.
- Thomas Ireland, Mortgage Operations Assistant Manager, Digital Federal Credit Union
- Morgan Sebastian, Processing Manager, Shamrock Home Loans
The Rising Star initiative was created to recognize exceptional up-and-coming association member professionals who, in the eyes of their Manager, Supervisor or Co-worker, possess the professional characteristics that represent an MMBA Rising Star. Learn more about the 2019/2020 Rising Stars.
August 9, 2019
Nominations Open for “Rising Stars of the MMBA”
Nominations are open for the “Rising Stars of the MMBA.” The award, created to recognize exceptional up-and-coming association members, provides opportunities for future leaders to develop advanced industry expertise, have access to direct mentor opportunities with local industry leaders, meet and collaborate with peers, build leadership skills and participate in the MMBA. More information, including eligibility requirements, is available here.
August 9, 2019
The MMBA Rebuts Study on Discriminatory Lending Practices in the LGBTQ Community
We thank The Boston Globe for bringing a recent study from Iowa State University to our attention. The study, based on nationwide lending patterns from 1990 to 2015, suggests that same-sex couples are more likely to be denied mortgages and that they pay higher interest rates than other similarly qualified borrowers. The MMBA respectfully disagrees with the results of the study.
May 22, 2019
The Massachusetts Mortgage Bankers Association Files Amicus Brief in Thompson v. JPMorgan Chase Bank, N.A.
The Massachusetts Mortgage Bankers Association (MMBA), the largest mortgage association in New England, announces it filed an amicus brief in Thompson v. JPMorgan Chase Bank, N.A., a U.S. Court of Appeals decision handed down by the First Circuit. The Thompson case involved the notice of default sent to the Thompsons (the borrowers) by JPMorgan Chase Bank when the borrowers failed to make their mortgage loan payments. The Court held that the notice was “potentially deceptive” and declared the foreclosure invalid.
May 21, 2019
The Massachusetts Mortgage Bankers Association Hosts Affordable Lending Summit
The Massachusetts Mortgage Bankers Association (MMBA), the largest mortgage association in New England, announces it hosted an Affordable Lending Summit on May 16 at Webster Federal Credit Union in Worcester, MA. The Summit provided lending institutions with insight and information to help increase LMI Lending to meet the needs of its consumers.