A look back at several Mortgage Bankers Association conference sessions

Raymond Fleischmann, associate editor

As published in Scotsman Guide's Residential Edition, May 2012.

Atlantic City may be known for its beaches, resorts and casinos, but this past March 11 to 15 it was home to approximately 1,300 mortgage professionals attending the Mortgage Bankers Association's (MBA) New Jersey regional conference. With 105 exhibit booths, the conference boasted a multitude of networking and business opportunities, as well as various educational sessions and panels.

Although these panels focused on a wide range of topics and talking points, one theme prevailed: taking a look at what the future may hold for the housing industry and mortgage business. While acknowledging that the recession may not have run its course quite yet, conference participants generally were cautiously optimistic about the market's direction. Policy-making, regulatory changes, qualified residential mortgages (QRM), qualified mortgages (QM), the Real Estate Settlement Procedures Act (RESPA) and Basel III were all hot topics of discussion.

Here's a recap of several sessions that Scotsman Guide attended.

What Will the Industry Look Like in 2012 and Beyond?

When: 9:00 to 11:00 a.m., March 14

Who:

• Regina M. Lowrie, president, Vision Mortgage Capital, a division of Continental Bank (moderator)
• Michael L. Vitali Sr., executive vice president, TBI Mortgage Co. (moderator)
• Meg Burns, senior associate director for housing and regulatory policy, Federal Housing Finance Agency
• Garry A. Cipponeri, senior vice president, director of capital markets, JP Morgan Chase
• Tim Dale, mortgage lending manager, BB&T
• Peter Norden, CEO, Real Estate Mortgage Network Inc.
• Kevin Schneider, president and CEO, U.S. Mortgage Insurance, Genworth Financial
• Michael W. Young, chairman, MBA; chairman of the board, Cenlar FSB

What: In discussing both the near and far future of the industry, Young's opening comments reflected a theme that was prevalent throughout the entirety of the panel, as well as the conference in general. "I believe that the No. 1 factor impacting our industry and what it will look like in 2017 is the policy-making environment that we're in today," Young said.

He went on to discuss the future of the secondary market, touching on some of the basic questions about the direction of government-sponsored enterprises and the return of private capital into the industry.

"I think it's safe to assume that the current market structure will not last for the long term," Young said.

Both Schneider and Dale's comments also echoed the importance of policy-making on the future health — or infirmity — of the market as a whole. Dale stressed the importance of having a clear definition for what constitutes a qualified mortgage, while Schneider stressed the necessity of broad, industry-wide reform.

"I think that what we need right now is some type of comprehensive reform to make its way through the system so that we all have clarity around what the rules of the road are going forward," Schneider said.

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