First American Title
Vermont Attorneys Title
|Expand Your Horizons
By Kathy Simanskas, VMBA President,
(Excerpt from article for the NEMBC Program Guide)
The VMBA takes education very seriously and we strive to provide interesting educational opportunities for
our members. Our Education Committee has run a successful School of Mortgage Banking for several
years. This year, we decided to offer numerous seminars with timely updates on products, reverse
mortgages, and the growing area of fraud in the mortgage industry.
Each year, the VMBA holds a legislative luncheon where we encourage members to build relationships with
other industry professionals and legislators. In this manner, we can work together as allies to support the
housing industry in our state. In early February, I attended the Vermont Association of Realtors Legislative
Day at the Vermont Statehouse. After a breakfast reception, we were able to visit various Committee
meetings to observe our legislators at work. We then spent an hour with the VMBA lobbyist, who shared
guidelines and general tips on how to take a more active role in our government. The advice was extremely
valuable. By getting to know your legislators and staying informed of current bills affecting real estate,
housing and mortgage lending issues, each and every person can make a difference. I challenge you to get
I look forward to what lies ahead in our ever changing industry. We will need to stay on top of the inevitable
changes that will most certainly come our way—changes such as a lack of real estate appreciation, greater
use of technology, and potential downsizing, as well as any market reactions to ongoing subprime lending
issues. Be flexible, learn something new, get involved in your local or state government, and expand your
horizons at the NEMBC. You’ll be glad you did.
A significant contingent of Vermont lenders traveled to
Providence, RI for the New England Mortgage Bankers
With a large selection of Seminars, the Marketplace,
and networking events, the conference opportunities
to learn the latest, and to meet face to face with key
players and vendors were as large as in past
We listened to Tom Candon report on what's
happening in VT at the State Regulator's Panel, we
checked in on Freddie and Fannie's update, listened
to Sales Tips from top originators, and wandered the
Marketplace meeting with the many Vendors. And of
course we shared good times a lot of old friends and
met some new ones.
Betsy Wigg, Pat Weaver, Nikki Hayes, Kathy Simanskas & Diane
enjoy the Glamour Girls show.
|2008 Legislative Session
Chris Rice, VMBA Lobbyist met with president Kathy
Simanskas, vice president, Jason Pidgeon and me to
begin the discussion on what we should expect and
what we need to focus on for the upcoming Legislative
Of significant concern to the VMBA is the change in
how the State distributes Property Tax Prebates
through the local municipalities rather than directly to
the homeowner. Unplanned closing expenses have
created significant challenges to some of our
borrowers. In addition, privacy issues - protecting
income information - continues to be a major concern.
Nikki Hayes, past president, has followed the issue
closely, and represented VMBA on a task group
discussion on Prebates with BISHCA.
The Legislative Committee plans to have an active
meeting schedule to work on this issue along with
others. Additional committee members are always
welcome. Please contact Diane or Kathy if you would
like to join the committee.
Overall, Chris felt we can expect issues that were of
concern to the 2007 Legislature to continue to be a
significant focus, including Energy conservation.
Kathy and I will participate in an MBA State and Local
Workshop on October 12 & 13th in Boston, including a
session with the MBA on state and national Legislative
|Schedule of VMBA Seminars
Economic Update Seminar
What When Wrong & What's Next?
Seminar Sold Out
Products and Program Updates
What You Need to Succeed in the Post-SISA
Why use VA? Case Study, Test your knowledge
with VA Bingo!
Update your knowledge - don't miss opportunities
Roberts Get a refresher on FHA. Review program
December 5 - Sales Seminar
Sharpen your Sales Skills Prior to the Holiday Social
1:30 - 5:00 Essex Outlet Theater
AS NOTED IN THE ACCOMPANYING ARTICLE
- WE WANT TO HELP CORRECT PREBATE
We NEED to hear from EVERYONE if you have
any closing, servicing, or customer problems
that were caused by the change in how
Prebates were handled this year.
You may link to the Form Below to report
issues. This will now be posted as a link on
our Vermontmba.org website front page.
PLEASE - WE NEED YOUR STORIES TO
LEGISLATIVE ISSUES FEEDBACK
|SAVE THE DATE!
Holiday Social - December 5
Inn At Essex 5:30 - 8:00