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February 2009 - Volume 12, Issue 2 - Page 2

2009 DMBA Officers

President		Bill Brogan, Legacy Mortgage
President-elect		Linda Klum, Countrywide Home Loans
Treasurer		Margie Lusk , Union Savings Bank
Secretary		Karen Vosler, Union Savings Bank
Board Members
		Adam Galbraith, Countrywide Home Loans Dennis Hamilton, Hamilton Innovative Holly Hutchison, Southern Ohio Mortgage, LLC Nick Maxwell, Fifth Third Mortgage Jeff Mundy, State Farm Insurance Anne Ross, M & M Title Agency, Inc. Ron Weaver, Midwest Title Company Don White, First Mortgage Banc Corporation
Cabinet Members		Betty Downing, First Mortgage Banc Corp Teresa "Ganka" Mc Donald, Partners Land Title
Past President		Anna Osborne, National City Mortgage Company

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Membership

NNo new applications for membership have been received.

Prospective members can obtain an application from Don White, membership chair, online in the member section of the web site and any DMBA officer or board member.

Any member with a comment concerning the pending admittance of any companies, positive or negative, should contact Don at donfwhite@msn.com.

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OMBPAC's STORM THE CAPITOL DAY Tuesday March 10, 2009

Mark your calendar now to join your fellow OMBPAC contributors for our biggest event of the year. This is your chance to learn about the political process in Ohio and to personally meet with your legislators to have your voice heard. Please plan to attend this FREE event to help deliver the OMBPAC message and to help shape the outcome of impending legislation. Attendance is open to all OMBA & OMBPAC members but space is limited so reserve your seat for the training session, luncheon, and open house.

http://www.ohiomba.org/Events/StormTheC apitol/StormReg09.pdf

Hyatt on Capitol Square
75 East State Street
Columbus, OH

11:30am - Registration

12:00pm - 1:00pm - Luncheon with AG or State Committee Chairs

1:00pm - 3:00pm - Training Session on How a Bill Becomes Law -Learn the bill-to-law process and how you can influence the outcome

3:00pm - 3:30pm - Department of Commerce - Update on S.A.F.E.

3:30pm - 5:00pm - Legislator Visits

5:00pm - 6:30pm - OMBPAC Reception - for personal PAC donations

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Announcment 08-38 December 29, 2008

Introduction
Fannie Mae is announcing updates to the standard pricing requirements for mortgage loans with certain risk characteristics. The following summarizes the updated and new loan-level price adjustments (LLPAs) that are outlined in this Announcement.

Updated LLPAs will apply to

• a number of loan-to-value (LTV) ratios combined with certain representative
  credit scores,
• certain cash-out refinance transactions, - mortgage loans secured by two-unit properties, and mortgage loans with subordinate financing.

New LLPAs will apply to

• mortgage loans with an interest-only feature, and
• mortgage loans secured by condominium and cooperative properties.

Click here for the complete document FannieMayArticle_0838.pdf.