Happy 2007 Everyone!
I love the clean slate when we flip the calendar to a new year and a new
start.  New Resolutions to make or to break...  

Whatever your 2007 goal is - I hope your year is a great one.
Diane
Executive Director
January 2007
Vermont Mortgage Bankers Association
Newsletter
In This Issue

Mortgage Conference -
Bus Trip Feb. 13

PMI - Now Tax Deductible

Legislative News

Affordability Covenants

Diamond Sponsors


First American Title Insurance


Strategic Information
Resources


Vermont Attorneys Title
Insurance


Vermont Housing Finance
Agency



Margin Members!

Showcasing our Appraiser
Members


Abbott & Dartt Appraisal
Service, LLC

CMA Appraisals, Inc.

Dolan Appraisal Service

Ellison Appraisal
Associates

Highland Appraisals, Inc.

Model Appraisal Services

Seville Appraisals


Thanks to our VMBA
Appraiser Affiliate Members
for your support.

Please Support those who
Support us!


The Annual Joint Mortgage Conference will be at the Radisson Hotel,
Center of New Hampshire, 700 Elm Street, Manchester, NH  03101.
You should have received the Conference Invitation already.  We are
encouraging all Mortgage Loan officers and Sales Managers to join us
for the one day Marketplace/Seminar Option at the Joint Conference on
Tuesday, February 13.  

The cost for the afternoon program including
2 sales seminars and the
full Marketplace Reception is just $20.
 Make it an easy commute by
signing up for a bus.  We've estimated the cost for transportation will be
about $65 - making it a good deal for the miles.  
BUT - YOU MUST
EMAIL VMBA RIGHT AWAY TO INDICATE YOUR INTEREST.  WE'LL
NEED AT LEAST 30 PEOPLE FOR A BUS.  

EMAIL DIANE AT:  INFO@VermontMBA.org

For more information on the Conference, or to Register for the Program,
go to the
NH MBBA website
and now... A Word From Our Sponsor

A Good Thing Gets Even Better
Homebuyers to benefit from MI tax deductibility


Families looking to buy a home in 2007 now have another great reason
to consider private mortgage insurance; its tax deductible.  President
George Bush signed a bill on December 19th that made mortgage
insurance premiums tax-deductible for households whose adjusted gross
income is $100,000 or less.  The law is effective for the 2007 tax year on
purchase and refinance loans closed on or after January 1, 2007.
This widely supported legislation makes mortgage insurance an even
better option for lenders and homebuyers alike.  It simplifies the
mortgage process, increases buying power, broadens their cash flow
options and allows for tapping into equity and refinancing more easily.
"The President's approval of this important deduction will encourage
families to seek out the American dream of homeownership by directly
saving low- and moderate-income borrowers money," explains Patrick
Sinks, president and chief operating officer, MGIC. "Mortgage insurance
has long provided a safe and smart way for families to afford a home.
With this new deduction, it becomes all the more sensible at a time when
both interest rates and housing costs are on the rise."
For more information on mortgage insurance tax deductibility, please
visit
 MGIC Education.

Thanks to Gold Sponsor, MGIC for this Market News Update.  For
more information on MGIC, please go to their website, or
contact Jon
Korpela,  jon_korpela@mgic.com.
Monday Briefing - 1/29/07
Excerpts
Published by MacLean, Meehan & Rice, LLC
45 Court Street, Montpelier, VT 05602
www.mmrvt.com


Governor Douglas put property tax reform front and center.  He reminded the
legislature that for the past two sessions he has offered numerous proposals
to bend the trend in education spending.  Fully recognizing his ideas had
been rejected by the legislature, he made property tax reform a key part of
his budget proposal.   Calling for a cap on property taxes, the Governor said
it was the only way to make our investments in public education sustainable
and that his recommendation is straightforward and reasonable.

Calling for more affordable housing, the Governor asked for establishing a
new neighborhood initiative that would involve streamlined Act 250 approval.

Read the complete Legislative Briefing, updated every Monday during the
Legislative Session.


Save the Date - Legislative Luncheon - March 14th
Conference
Affordability Covenants

The Upper Valley Housing Coalition and the Land Use Institute at Vermont
Law School are putting on a seminar called "Affordability Covenants: The
Policy and Practice of Keeping Affordable Housing Affordable".  The
seminar is designed for bankers, lawyers, realtors, and affordable housing
advocates who are interested in maintaining long-term affordability on
homes, and will take place at Vermont Law School on February 13th.
For more information check out the
Upper Valley Housing Coalition website.
Have a great year,

Diane Smith
Executive Director
Vermont Mortgage Bankers Association
ANNUAL JOINT
MORTGAGE CONFERENCE -
Manchester, NH
February 13 and 14, 2007
Join us for a Field Trip!