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Prior to running down to the Annual Regional Conference of Mortgage Bankers Associations in Atlantic City, I was checking today’s industry headlines.

Let’s see, we have articles about:

• The increased cost to buyers with FHA financing FHA Costs)
• Supreme Court’s Ruling on OT for LOs (LOOT)
• Consumers now think it is easier to get a mortgage (Consumers)
• US unrealistic housing policies (Housing Policy)
• The potential for the Fed to raise rates (Rate Hike)
• CFPB finds that arbitration may harm consumers (Arbitration).

Oh, by the way, Fannie recently put out a report indicating the labor market has started the year on an upbeat note, which they expect to lift consumer confidence.  That may help to increase consumer spending, helping to pace a housing recovery. Wow, talk about running the gambit!

These articles happen to come from today’s MBA NewsLink. Thank you MBA for keeping us informed.

There is some good news and some not so good news, but for the most part we’re being told that the economy is improving, job and income growth is on the rise, unemployment is down and home prices are stabilizing (do you believe?). And, even with a slight Fed interest rate hike possible as soon as June, rates should still be reasonable. Regardless of new regulations, perceived barriers to homeownership and the Millennials’ student debt, 2015 should turn out to be a pretty good year for home financiers.

With homes for sale, at reasonable prices and willing buyers who have access to financing, there will be lending opportunities. Lenders need to first identify the qualified home buyers, actively market to them and adequately service their needs.

Like in sports, it all comes down to having the right plan and then executing on that plan, with the right people, products, and service. Know your clients and what they need. Then fulfill their need. Seems simple, if so, then why isn’t everyone successful?

Do you believe 2015 will be a good year for lenders? What’s your plan? Don’t gamble on your future; be prepared.

Hope to see you in AC!

About the Author

Michael Vitali

Michael L. Vitali – Independent Consultant to the Mortgage Industry Mike Vitali is an independent consultant to the mortgage industry on matters concerning compliance and mortgage lending. He most recently served as the Senior Vice President and Chief Compliance Officer for LoanLogics, monitoring regulatory developments and their practical implications for the mortgage lending industry. His duties included research, interpretation, and analysis of existing and proposed legislation related to the industry in support of recommendations for policy and/or procedure changes to maintain continued quality and compliance with all applicable laws, rules and regulations, investor requirements, and standard mortgage practices. In his more than 40 years in the mortgage industry, in senior level management, he has gained experience in all areas of mortgage lending, risk management, and compliance. Mike is a past President of the MBA of Greater Philadelphia, is a charter member and was the second Chairman of the MBA of Pennsylvania, and a past board member and Legislative Chair of both associations. He is a recipient of the 1998 Mortgage Banker of the Year Award from the MBA of Greater Philadelphia, and the 2003 Chairman's Award from the MBA of PA, and currently serves on several compliance related task forces for MBA.