TABLE OF CONTENTS

* Members Ratify the 2007 - 2008 Board and are Suddenly Entertained by Joan Rivers

* Thank you, Bonnie Leclerc, for Your Leadership

*  Introducing the 2007 - 2008 MBBA-NH Board of Governors

* Greg Wehrle Becomes a Certified Mortgage Professional

* Loan Originators Award Honors Three

* Congratulations to the Course 2 Students and Thank you, Instructors

* Mortgage Applications Decrease in Latest MBA Survey

* Programs Scheduled

Members Ratify the 2007 - 2008 Board and
are Suddenly Entertained by Joan Rivers

On Thursday, May 3, 2007, at the Puritan Backroom Restaurant, 150 MBBA-NH members attended the 2007 Annual Dinner.  This year’s Annual Dinner strayed a bit from normal procedures.   

As people arrived during the cocktail hour, they were looking forward to the usual:  leisurely catching up with friends and colleagues.  Instead, they were surprised to be greeted by Joan Rivers on the Red Carpet!  Joan immediately went on the offensive and, at one time or another, was face-to-face with each person in the room.  She wanted to know what everyone was wearing, if they were married, and critiqued the size of each lady’s engagement ring.  At the end of the evening, Joan concluded that the Irish have the smallest and the Italians have the largest engagement rings.  We were all so pleased that Joan imparted this valuable piece of information to us, even though it was too late for some us!

Other than Joan’s antics during the cocktail hour, the Annual Dinner proceeded accordingly.  The new 2007 – 2008 Board of Governors were elected, recipients of the Loan Origination Awards and Certified Mortgage Professional (CMP) were recognized, and the names of the two high school seniors, who were selected for the MBBA-NH’s college scholarship, were praised for their outstanding credentials.  The members also voted to ratify the updated bylaws and a silent auction raised more than $1,000 for the college scholarship fund.  More details on this part of the Annual Dinner are in the articles below.  

A big “THANK YOU” to the VA
for greeting and registering
people at the Annual Dinner and
to our Annual Dinner sponsors:

Sponsor of Appetizers and Floral Centerpieces

Sponsor of the Dinner Wine 

We would also like to acknowledge our generous Preferred Corporate Sponsors who help support all of our social events and other initiatives throughout the year:    

More Annual Dinner photos . . .

Photos courtesy of Julie Clark, Horizon Settlement Services.

Thank you, Bonnie L. Leclerc, for Your Leadership

The association experienced another successful year, thanks to its President Bonnie L. Leclerc of Franklin Savings Bank.  The educational programs, social events, mortgage conference, and Course 1 and 2 were consistently well-attended and received positive feedback. 

Several of the most popular educational programs included Demystifying the Credit World in October 2006, Reverse Mortgages in October 2006, Predatory Lending in December 06, Legislative Update in January 2007, and Preparing for and Responding to a State Examination Process in May 2007.  As always, we offered Course 1 in the fall and Course 2 in the early spring.  Thank you, New Hampshire Housing, for allowing us to use your training room for each of the courses.

The social events always attract a large crowd and are a lot of fun:  Wentworth By The Sea Golf outing with the Massachusetts Mortgage Bankers Association, Holiday Get Together at the Manchester Country Club, and our summer outing on beautiful Lake Sunapee. 

Our biggest event of the year is the Mortgage Conference in February, which combines networking events and educational programs.  Each year this conference gets bigger and bigger.  However, for the first time in the history of the conference, the weather did not cooperative.  On the second day, we experienced snow, which made it difficult for people to travel.  But despite the snowstorm, we received positive feedback on the conference. 
 

In addition to our successful programs and events, the association's membership increased, the ethics/legislative committee kept a watchful eye on any state legislation associated with our industry, and the public relations committee continued to issue press releases on our new Certified Mortgage Professionals, Loan Officer Awards, and monetary contributions to the community -  namely, New Hampshire Housing's first-time home buyer seminars and NH Jump$tart, which educates students on personal finances.

One of the issues faced by the board this year was the discussion of joining the National Association of Mortgage Brokers (NAMB).  After several months of discussion at the board level, the board voted for MBBA-NH to become NAMB's state affiliate.  Thus MBBA-NH's affiliation with NAMB began in January 2007.  Since that time, MBBA-NH members have been receiving a complimentary membership to NAMB.  When MBBA-NH membership dues are mailed in early July, you will notice a separate, additional cost to remain a member of NAMB for the upcoming year.  MBBA-NH members are not required to join NAMB but are given the option.

Bonnie should feel proud of how much she accomplished this year.  She was a wonderful leader.  Best of luck to you, Bonnie, in your retirement from Franklin Savings Bank.  Bonnie and her husband, Roger, are moving to Florida at the end of June to enjoy the warm weather and year round golf.


MBBA-NH President Gladys White of Downeast Mortgage Corp. Congratulates MBBA-NH Past President Bonnie Leclerc of Franklin Savings Bank on Her Successful Year as President
 

Introducing the 2007 - 2008 MBBA-NH Board of Governors

This year's nominating committee is please to announce that the members on the board are a good representation of the membership.  There are four mortgage bankers, three mortgage brokers, two bankers, two investors, and two affiliate members. 

Congratulations to all the newly elected Board of Governors.  Best wishes for a successful year!

President:
Gladys White, Downeast Mortgage Corporation

President Elect:
Ralph Coppola, Countrywide Home Loans


Secretary:
Genie Smith, Countrywide Home Loans



Treasurer:
Liz Lamoureux, New Hampshire Housing



Member at Large:
Robin Canfield, Equity Resources Group

Member at Large:
Julie Clark,  Horizon Settlement Services

Member at Large:
Susan Dagoumas, Laconia Savings Bank

Member at Large:
Thomas Drouin, Laconia Savings Bank

Member at Large:
Carolyn Sandford, Downeast Mortgage Corporation

Member at Large:
Joe Saylor, National City Home Equity

Member at Large:
Kurt Strandson, Radiant Mortgage Corp.

Past President:
Ben Niles, Freddie Mac

Jon Wentworth of Profile Mortgage is a Member at Large and his photo is unavailable.

Greg Wehrle becomes a Certified Mortgage Professional

The Mortgage Bankers and Brokers Association of New Hampshire (MBBA-NH) announced the recipient of the 2007 Certified Mortgage Professional (CMP) designation at its annual dinner on May 3rd.   

The CMP designation attests to an individual’s high level of knowledge and professionalism, achievements and accomplishments, continued education, participation in MBBA-NH, and involvement and membership in other industry organizations.  

The eligible individuals who earn the MBBA-NH's Certified Mortgage Professional (CMP) designation meet the highest standards and exhibit mortgage lending professional competency, experience, and ethics.  The recipients receive a plaque and CMP lapel pin.  The letters "CMP" may be used after their name on business cards and other printed material to identify the honored designation. 

The 2007 CMP recipient is Greg Wehrle of Homeowners Assistance Company.

If you are interested in pursuing your CMP, click here for more information, and remember to keep track of all of your participation in MBBA-NH.  For each event, either social for educational, you earn points toward your CMP.

Loan Originator Awards Program Honors Three

Two High School Seniors Receive a College Scholarship
 

Each year the MBBA-NH is pleased to offer a college scholarship to high school seniors.  This year we received seven scholarship applications.  It was a difficult task for the scholarship review committee to narrow their choices.  Each applicant demonstrated a high level of ability.  But after careful examination of each application, the committee decided that there were two students who stood out from the rest. 

Congratulations to the following outstanding students who received MBBA-NH's college scholarship:

Lauren N. Ryan is a senior at Concord High School and plans on attending Ithaca College in the fall with a major in Exercise and Sport Sciences.  She enjoys cross-country, indoor/outdoor track and field, and is involved with the community by volunteering at the Red Cross.  In addition, Lauren works at the Derryfield Country Club in its office performing various administrative duties and helps in the preparation of golf tournaments.  Bonnie Ryan of Bellwether Community Credit Union is Lauren's mother.

The second college scholarship recipient is Brad P. Van Zandt.  Brad is a senior at Inter-Lakes Junior and Senior High School in Meredith, New Hampshire.  His interests are baseball, tennis, bowling, skateboarding, waterskiing, and snowmobiling.  His other interests include a church youth group, roadside cleanup, vacation bible school, and a home school convention.  He has been accepted to the University of New Hampshire Thompson School of Applied Science as a civil technology major.  His mother is Debbie Van Zandt of Meredith Village Savings Bank.

We wish Lauren N. Ryan and Brad P. Van Zandt the best in their college career.
 

Congratulations to the Course 2 Students and Thank You, Instructors 

Each spring Course 2: Mortgage Banking Fundamentals takes place for six consecutive weeks from 9 A.M. to 12 P.M. at New Hampshire Housing in its training room.  This spring's Course 2 recently came to end, and we are pleased to report that five of the full-time students satisfied the requirements of the course by attending the six classes and passing the final, take home exam.  Those students are:

• Tim Mullen of Bellwether Community Credit Union

• Matthew Frederickson of Downeast Mortgage Corp.

• Kathy Aubut-Decelles of Laconia Savings Bank

• Meredith Horton of Laconia Savings Bank

• Stephanie Pigott of Laconia Savings Bank. 

We acknowledge and congratulate all the students on their success.

In addition, we would also like to thank the Course 2 instructors for volunteering their time to prepare and teach their assigned topic.  The instructors are:

• Donna Howard, Senior Underwriter, Merrimack Mortgage Co.

• Attorney Rick Hubbard, Stewart Title of Northern New England

• Ralph Coppola, Branch Manager, Countrywide Home Loans

• JJ Kempton, Account Representative, Merrimack Mortgage Co.

• Mary Ellen MacInnis, Account Manager, MGIC

• Attorney Jim Fleming, Regional Manager, Title Resources Guaranty Company

• Deb Titus, Performance Development Consultant and Trainer, Dale Carnegie

We will be offering Course 1:  Mortgage Banking Fundamentals in September 2007.  You will be notified on the specifics of the course by August 2007.
 

Mortgage Application Decrease Slightly in Latest MBA Survey

WASHINGTON, D.C. (June 6, 2007) - The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 1, 2007.  This week's results include an adjustment to account for the Memorial Day holiday. The Market Composite Index, a measure of mortgage loan application volume, was 625.3, a decrease of 1.7 percent on a seasonally adjusted basis from 636.4 one week earlier.  On an unadjusted basis, the Index decreased 12 percent compared with the previous week and was up 16.5 percent compared with the same week one year earlier.

The Refinance Index decreased 6.3 percent to 1757.1 from 1874.6 the previous week and the seasonally adjusted Purchase Index increased 1.5 percent to 433.6 from 427 one week earlier. The seasonally adjusted Conventional Index decreased 1.5 percent to 920.6 from 934.8 the previous week, and the seasonally adjusted Government Index decreased 4.3 percent to 132.8 from 138.7 the previous week.

The four week moving average for the seasonally adjusted Market Index is down 2.1 percent to 655.8 from 669.7.  The four week moving average is down 0.3 percent to 432.8 from 433.9 for the Purchase Index, while this average is down 4.3 percent to 1975.5 from 2065 for the Refinance Index.

The refinance share of mortgage activity decreased to 38 percent of total applications from 39.7 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 17.8 from 17.7 percent of total applications from the previous week.

The average contract interest rate for 30-year fixed-rate mortgages increased to 6.35 percent from 6.32 percent, with points increasing to 1.5 from 1.41 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.

The average contract interest rate for 15-year fixed-rate mortgages increased to 6.13 from 6.05 percent, with points decreasing to 1.2 from 1.27 (including the origination fee) for 80 percent LTV loans.

The average contract interest rate for one-year ARMs remained unchanged at 5.74 percent, with points increasing to 1.14 from 1.09 (including the origination fee) for 80 percent LTV loans.

**SPECIAL NOTES**

The survey covers approximately 50 percent of all U.S. retail residential mortgage originations, and has been conducted weekly since 1990.  Respondents include mortgage bankers, commercial banks and thrifts.  Base period and value for all indexes is March 16, 1990=100.

###

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 500,000 people in virtually every community in the country.  Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 3,000 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.  For additional information, visit MBA's Web site:  www.mortgagebankers.org.

Programs Scheduled

Friday, June 22,  2007—FHA Origination for Mortgage Bankers and Brokers at US Housing & Urban Development, 1000 Elm Street, Floor 7, Manchester, New Hampshire, from 8:30 A.M. to 4 P.M. 

Tuesday, July 10, 2007 - Golf Outing at Wentworth By The Sea Country Club with the Massachusetts Mortgage Bankers Association.  More information to come.

Thursday, July 19, 2007 - Summertime Dinner Cruise on Lake Sunapee from 5 P.M. to 7:30 P.M.  More information to come.

Friday, September 7, 2007 - MBBA-NH Annual golf outing at the Owl's Nest, Campton, New Hampshire.  Benefits New Hampshire Housing's home buyer seminars.

September 2007 - Course 1:  Mortgage Banking Fundamentals from 9 A.M. to 12 P.M. for six consecutive weeks at New Hampshire Housing, 32 Constitution Drive, East Entrance, Bedford, New Hampshire.  More information to come.

September 2007 - Roundtable Discussion to Explore Ethics, Fraud, and Privacy in the Mortgage Finance Industry from 9 A.M. to 12 P.M.  More information to come.

October 2007 - Learning about the VA Product, presented by Cathy Parker of Mortgage Training Solutions.  More information to come.

November 2007 - Emerging Market:  How can Residential Lenders/Brokers Successfully Tap into Their Existing Databases to Cross-Sell Commercial Lending Products?  More information to come!