Mortgage Lending: 2024, Year in Review & What to Expect in 2025
Tuesday, December 10, 2024 at 1 pm CST
Session Description
We could easily argue that the past few years have presented their own set of credit union mortgage lending challenges, but 2024 may have been the light at the end of a dark tunnel with its fair share of positive points. Will this translate to brighter times, greener pastures, and higher volume levels in the years to come? Only time will tell, and our experts may have the inside scoop on what success might look like in 2025 as we face a new market and an ever-evolving compliance landscape.
To address these issues, ACUMA president Peter Benjamin hosts two leading thinkers in the credit union mortgage lending space. Here are some of the topics we can expect from their discussion:
For Michael Christians, compliance counsel for his own consulting firm, the regulatory issues and compliance questions facing credit unions may be among the most daunting, including:
- Appraisal bias (new rules and guidance on reconsiderations of value and AVMs)
- Proposed changes to the mortgage servicing rules
- Seasoned qualified mortgages
- An update on FHFA’s transition to bi-merge credit reports
- Redlining
For Rob Chrisman, possible challenges also focus on capital markets and interest rates, raising the following questions:
- Why did rates jump after the election results became apparent?
- What news should originators watch for as we move through 2025?
- Realizing that no one can predict rates, can we predict them anyway?
- What are the trends in the capital markets world of which credit union members should be aware?
This year-end episode of the ACUMA Fast Track series will contain a substantial amount of both information and prognostication. No credit union mortgage lender can afford to miss this one.
- This session will be interactive so come with your questions.
- Open to anyone.
- Session will be recorded.
- By registering for this event, you submit your information to the webinar organizer and sponsor, who will use it to communicate with you regarding this event and their other services.
Speakers
Michael R. Christians
Founder and Regulatory Compliance Counsel, Michael Christians Consulting
Michael R. Christians serves as a Regulatory Compliance Counsel. As principal of Michael Christians Consulting, he assists financial institutions and organizations across the country with ensuring their compliance programs conform to federal laws and regulations. Christians provides counsel relative to current rules, assists with the strategic implementation of upcoming regulatory changes and offers customized education and training services. He has more than two decades of experience in the financial services industry with a primary focus on consumer compliance. Christians received his Law Degree from Drake University Law School. He is a member of the Iowa State Bar, where he is licensed to practice law.
Rob Chrisman
Consultant, Capital Markets
Rob Chrisman is best known for his free morning commentary on the mortgage business and the economy. He began his career in capital markets 39 years ago in 1985 and his background includes hedging pipelines, running a small subprime company, speaking to companies and groups, and helping various companies with various issues on a consulting basis. He left the daily working world in late 2008 to focus on his family but continued to publish his commentary. He spends 4-5 hours a day on this and wakes up at 4AM Pacific Time to check overnight news and edit the commentary before sending it out. He is on the board of directors, or advises the boards, of several financial companies, and was on the board of directors of Peoples Bank in Kansas, sister company of Peoples National Bank of Colorado, and visits groups around the country consulting and speaking. He is a product of the California education system with a BS from Cal Poly, San Luis Obispo, and an MBA from UC Berkeley.
Peter J. Benjamin, CMB
President, ACUMA
Peter J. Benjamin, CMB is the President of the American Credit Union Mortgage Association (ACUMA). A mortgage professional with 20 years of experience, Benjamin has held various positions throughout the mortgage industry including Senior Vice President of Mortgage Lending for Lafayette Federal Credit Union in Rockville, MD. During his time at Lafayette Federal, Benjamin led a high-performing mortgage team that exceeded production and budget goals each year, reduced the Credit Union’s cycle times to the industry-required timeframes; and improved the credit union’s application pull-through rate. As an association, Benjamin wants to see ACUMA members continue to foster the collaborative spirit that has made the association so great and work together to support the American Dream of homeownership. He sees ACUMA as a vital education arm that helps Member Credit Unions gain market share in the mortgage industry.
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