Florida

https://www.eventbrite.com/e/developer-showcase-trade-expo-ii-tickets-34883040112
The FAMP Broward Chapter Presents "Developer Showcase & Trade Expo II" set for Wednesday, Sept. 6 at the Signature Grand, 6900 Florida 84 in Davie, Fla.
 
There will be more than 110 developer and real estate-related exhibitors, guest speakers, Miami Dolphins Cheerleaders, Men of the Fireman Calendar, a Money Machine, Photobooth, DJ, Bar and hourly raffles and giveaways.
 
Click here for more information. 

 
An influx of new residents into the South Florida market is being balanced with an exodus of longtime residents who can no longer afford to live in this area
Miami single-family home sales rose 5.8 percent year-over-year in the second quarter, while luxury single-family home sales soared by 25.2 percent, according to data from the Miami Association of Realtors.
 
Also on the rise were median sale prices, which increased for the 22nd consecutive quarter. During the second quarter, the median sales price for the Miami market increased by 11.3 percent for single-family homes to $328,300 and 6.5 percent to $229,000 for condos. Miami real estate recorded five and a half years of price appreciation.
 
However, existing condominiums sales dropped by 2.6 percent in the second quarter—and the trade group attributed the decline to strong competition from an increased level in newly constructed properties.
 
Miami real estate had 21,119 active listings in the second quarter, up 3.6 percent increase from the 20,384 listings at the same time last year. The inventory for single-family homes saw a 3.8 slide, from 6,292 to 6,052. But the existing condo inventory grew 6.9 percent, from 14,092 to 15,067.
Cash sales represented 38.6 percent of Miami closed sales in the second quarter, which was more than double the national level. Cash sales accounted for 53.5 percent of all Miami existing condo sales and 23.9 percent of single-family transactions.
Waterstone Mortgage Corporation has announced that Eric Putt has joined the company as a Producing Manager in the company's Orlando, Fla. office
Waterstone Mortgage Corporation has announced that Eric Putt has joined the company as a Producing Manager in the company's Orlando, Fla. officeWaterstone Mortgage Corporation has announced that Eric Putt has joined the company as a Producing Manager in the company's Orlando, Fla. office where he will be responsible for recruiting and training loan originators and helping borrowers throughout central Florida with their home purchase and refinancing needs.
 
"We're thrilled to have Eric and his team join our group," said Waterstone Mortgage Regional Manager Dustin Owen, who oversees the Florida market for the company. "Eric still makes it a priority to attend loan closings because he loves seeing his clients' reactions as they purchase their new homes. That personal satisfaction and fulfillment he finds in helping homebuyers makes him a perfect fit for our team."
 
Putt has more than 10 years of mortgage lending experience in the Orlando area, and has gained in-depth knowledge of both the industry and the local market. Several members of Putt's production team are joining him in the move to Waterstone Mortgage.
 
"I am delighted to join Waterstone Mortgage, which has a proven success model and the technology and tools to ensure homebuyers receive a smooth and easy mortgage financing process," Putt said. "My team and I have a variety of loan program options that allow us to tailor-make financing to best meet the financial needs, wants, and goals of our clients. I look forward to leveraging our expertise with Waterstone Mortgage's resources to provide a truly superior experience for our customers."

 
When it comes to getting the biggest bang for the buck by investing in single-family rentals (SFR), a new data report insists the magic number for success is 33434
When it comes to getting the biggest bang for the buck by investing in single-family rentals (SFR), a new data report insists the magic number for success is 33434.
 
The online real estate investment management firm HomeUnion analyzed ZIP codes in 20 major metro areas to determine which areas saw the greatest returns on investment minimizing risk over a five-year horizon. The highest-ranking ZIP code was 33434, belonging to the Hamptons at Boca Raton, Fla., submarket within the West Palm Beach metro area. Other top markets included ZIP code 19035 in the Gladwyne section of metro Philadelphia; 48322 in the West Bloomfield Township section of metro Detroit; 33158 in the Palmetto Bay section of metro Miami; and 33327 in the Weston section of metro Fort Lauderdale.
 
“As more Americans seek to diversify their investment portfolios into real estate, we have put together a list of the best zip codes in 20 markets for them to invest and hold over a five-year period or longer,” said Steve Hovland, director of research for HomeUnion. “Typically, SFRs in areas with good schools have been attractive to long-term investors, though those areas have been more challenging to locate for remote investors in today’s heated housing market.”

 
Sherry Bitner is Branch Manager and Mortgage Loan Originator at Oakland Park, Fla.-based RE Financial Services Inc. and president of the Suncoast Chapter of the Florida Association of Mortgage Professionals
Sherry Bitner is Branch Manager and Mortgage Loan Originator at Oakland Park, Fla.-based RE Financial Services Inc. and president of the Suncoast Chapter of the Florida Association of Mortgage Professionals Sherry Bitner is Branch Manager and Mortgage Loan Originator at Oakland Park, Fla.-based RE Financial Services Inc. and president of the Suncoast Chapter of the Florida Association of Mortgage Professionals (FAMP). National Mortgage Professional Magazine recently spoke with Sherry regarding her trade association leadership.
 
How and why did you get involved with the Florida Association of Mortgage Professionals? Can you share the track within FAMP that led to the leadership role in your chapter?
I was introduced, and joined, the Suncoast Chapter of the Florida Association of Mortgage Brokers, as it was called at the time, in 1988 by the broker I worked with at the time. He encouraged me to go to meetings so I could learn more about the mortgage business. At that time, there were very few resources for education, and I found FAMB to be very beneficial to fill that void.
 
I was able to develop professional relationships with others in the business and share experiences of failures and successes to help grow my business through my association involvement. The relationships with the lenders and vendors also built my network, so I could reach out to them for services and additional knowledge. I also spent 10 years as a Wholesale Account Executive and was encouraged by the companies to attend the local FAMB meetings to promote and grow my accounts. 
 
In 2004, I opened my own brokerage company and became involved as an Executive Officer in the Suncoast Chapter of FAMB in 2005, when I also became involved in attending state meetings. I was learning more about business management, commitments, managing my time more effectively, and it also improved my ability to work together collectively as a team. I was taking myself to an entirely new professional level.
 
Today, my passion is strong in supporting FAMP as President of the Suncoast Chapter. It takes a village to run a chapter, and with all of our dedicated Directors, we are able to grow our chapter. On the state level, I serve as a Statewide Director, and I am involved in both the Membership Committee and the PAC Committee.
 
Why do you feel members of the mortgage profession in your state join FAMP?
The majority of long-term members feel it is important to support their professional organization because of what FAMP does. They know they are supporting those on the chapter and state level who are working hard to represent them. They always attend continuing education classes and tell me it is always better in person because of the discussions that take place in a live classroom setting, and they know they are supporting FAMP. 
 
The state and local trade shows bring in lenders and vendors from across the state and country. The FAMP state convention provides outstanding educational speakers on the most informative educational breakout sessions available anywhere. Newly licensed individuals and new processors are eager to learn as much as possible. By attending FAMP’s various meetings and events, they have a variety of resources at their fingertips. 
 
Sherry Bitner is Branch Manager and Mortgage Loan Originator at Oakland Park, Fla.-based RE Financial Services Inc. and president of the Suncoast Chapter of the Florida Association of Mortgage Professionals What role does FAMP play in the federal and state legislative and regulatory environments? Are there any items on the current agenda you would like to highlight?
On the local level, we invite all of the legislators in our area to meetings each year to socialize with members and speak with everyone. This builds a professional connection and recognition of who we are with those local legislators, and it also helps support our state efforts. Each year, all of the chapters meet in Tallahassee for our legislative visitation day.
 
On the federal level, our state organization sends participants to NAMB’s Legislative & Regulatory Conference in Washington, D.C. NAMB does an excellent job on updating us as to the federal level agendas and FAMP does an excellent job on keeping us abreast of the local agenda. On the chapter level, our agenda is to reach out to get to know our local legislators as much as possible. When we need to reach out to them, they know who we are and we are able to share our specific points of view on specific legislation with them.
 
What do you see as your most significant accomplishments within the association?
We have managed to increase the Suncoast Chapter’s membership consistently over the past three years. We hold monthly meetings and ask for surveys at our meetings from the attendees as to the type of events they want, and the majority of them are all educational-based. We also do several network appreciation gatherings a year as well.
 
Our biggest accomplishment is our local trade show each year. This year, the Suncoast Chapter Trade Show doubled the attendance from the prior year. We have increased the number of Suncoast Chapter Directors each year, as well.
Our main objective is to keep growing the chapter and offering our members the tools to succeed in their busy professional lives.
 
What is synergy between FAMP and NAMB?
NAMB sends out all types of valuable information covering government affairs, education, trade shows, and updated news articles on current events to everyone. We have Valerie Saunders, who is Vice President of NAMB, and Kimber White, who is a Director for NAMB, both from FAMP. We have excellent representation and resources because of their participation. 
 
Over the years as a member of NAMB, one of the best benefits I have found is when I have a client who is purchasing a property in another state and needs a mortgage. I will search the NAMB membership and find a member in the city the buyer will be purchasing and contact the NAMB member and then refer my client to that member. I have also experience the referral coming to me as well. Our membership brings professional recognition and collaboration which clients respect.
 
In your opinion, what can be done to bring more young people into mortgage careers?
Perhaps a good start to bring more young people into our career would be contacting the local college and university level to introduce students to the career opportunity. Another idea is to participate in job fairs on the local level. Many new people entering as Loan Originators and Processors are requesting training to make their work environment more streamlined and productive. 
 
Our FAMP Foundation has compiled a Bootcamp for new Loan Originators and Processors, and has brought this to the local Chapter areas. It has been extremely successful this year. It all comes back to education, where FAMB brought me education value 29 years ago, and today, it is still bringing that same value to new members. 
 
How would you define your state's housing market?
Overall, the housing market in our FAMP Suncoast Chapter area has not reached the highest values that existed prior to the recession in many places, but it is getting close. Inventory is low, builders are building, sellers are looking for the highest purchase price possible, buyers want a good deal on the original asking price, and bidding wars occur on properties priced right in the marketplace. Thus, there are still appraisals coming in below the purchase price, which is not at all a bad thing as it controls the steady growth. Overall, the market is in healthy shape at this time and continues to grow.
Phil Hall is managing editor of National Mortgage Professional Magazine. He may be reached by e-mail at PhilH@MortgageNewsNetwork.com.

 
GSF Mortgage Corp. has announced the addition of its newest branch in Palm Harbor, Fla.
gogsf.comGSF Mortgage Corp. has announced the addition of its newest branch in Palm Harbor, Fla., to be led by Branch Manager Anthony (Tony) Johncola. Joining Johncola’s team as Mortgage Loan Originators are Walter Parker and Dan Clancy.
 
Johncola brings with him more than 17 years of experience in the real estate and mortgage business. Originally a native of Philadelphia, Pennsylvania, Johncola, along with his wife, are Co-Owners of RE/MAX ELITE Realty Company, which further enables him to network effectively in the Tampa Bay area. Johncola is an affiliate member of the Pinellas Realtor Organization, one of the largest professional trade organizations in the Tampa area which represents the interests of more than 6,000 real estate professionals in Pinellas County.
 
“We are very excited to bring Tony and his team on board at GSF,” said GSF Mortgage Regional Manager Todd Pennington. “He is going to be a tremendous asset in growing our purchase market in the Tampa area with several Realtor connections utilizing the awesome products GSF has to offer.”

 
The FAMP Annual Convention & Trade Show 2017, "FAMP Through the Decades," will be held Wednesday-Saturday, Aug. 9-12 at the Omni Orlando Resort at ChampionsGate, 1500 Masters Boulevard in ChampionsGate, Fla.
 
Don't miss the opportunity to take advantage of early bird registration discounts on many of our available offerings including our trade show, breakout sessions, 70's themed gala, luncheon featuring the Florida Office of Financial Regulation, keynote speaker breakfast featuring Freddie Mac and more!
 
Click here for more information or call Valerie Saunders at (904) 651-3143.

 
Sales of single-family existing homes in Florida totaled 25,518 in May, a 4.5 percent year-over-year increase, according to new data from Florida Realtors
GSF Mortgage Corporation has added new branch located in Lakeland, Fla., the GSF Construction Division, to be led by Chad Baker and his team of Mortgage Loan Originators, Brad Edmonson and Lisa Kimsey-DunhamGSF Mortgage Corporation has added new branch located in Lakeland, Fla., the GSF Construction Division, to be led by Chad Baker and his team of Mortgage Loan Originators, Brad Edmonson and Lisa Kimsey-Dunham.
 
Baker has been in the mortgage industry for the past 17 years. After college, he found an opportunity to work in a refi call center to learn more about the industry. In 2001, he transitioned into wholesale lending, and a year later, found an opportunity working with manufactured home builders. Baker is looking forward to launching the construction division at GSF and establishing community relationships with builders.
 
Edmonson is joining the team as a Loan Originator with more than six year of experience in the industry. He is a Lakeland area native and is looking forward to using his hometown connections to expand the presence of the GSF brand in the central Florida market.
 
Also joining the Lakeland branch as a Loan Originator is Kimsey-Dunham. Originally a native of Charlotte, N.C., Kimsey-Dunham has more than 15 years of experience in the industry, including time spent in FHA compliance and as a loan originator.
 
“We’re tremendously excited to be working with Chad Baker and his group in Lakeland, Fla.,” said GSF Mortgage Regional Manager Frank Papaleo. “They bring with them a tremendous amount of experience with new construction products as well as a strong following with builders in the Florida market.  We are looking forward to growing the Construction Division within GSF.”

 
GSF Mortgage Corp. has named Mortgage Loan Originator Ashley Whealton as a new addition to the company’s Jacksonville, Fla. office
GSF Mortgage Corp. has named Mortgage Loan Originator Ashley Whealton as a new addition to the company’s Jacksonville, Fla. office. A native of Louisville, Kentucky and a graduate of Sullivan GSF Mortgage Corp. has named Mortgage Loan Originator Ashley Whealton as a new addition to the company’s Jacksonville, Fla. officeUniversity, Ashley is new to the mortgage business and is looking forward to the challenge of being GSF’s newest Loan Originator. She previously worked as Director of Finance and Administration for a tech company. 
 
“Ashley has been an outstanding addition to our office! The combination of compassion for her customers and attention to detail make Ashley one of the strongest loan officers in the Jacksonville area. The entire office is extremely excited to welcome her aboard,” said GSF Branch Manager Chad Murphy.

 
Trish Sublette is a Loan Originator with Security National Mortgage Company in Cocoa Beach, Fla., and President of the Space Coast Chapter of the Florida Association of Mortgage Professionals (FAMP). National Mortgage Professional Magazine spoke with her about her involvement with FAMP and the Space Coast Chapter.
 

How and why did you get involved with FAMP? Can you share the track within FAMP that led to the leadership role in your chapter?
I initially joined the Space Coast Chapter of FAMP in the late 1990s when I first became a broker. Back then, I joined to gain education from the speakers at the monthly meetings, and for the camaraderie of my peers. Around 2006 or 2007, the current President of our chapter asked me to sit on the Space Coast board as the Community Outreach Chair. I accepted, and from attending the board meetings, I learned more about the FAMP organization. When our Awards Chair could not attend a State Board Meeting, the President asked me to represent our chapter at the meeting for the Awards Committee. I did, but what I did not know was that the Awards Committee is a closed committee which means no one can be a substitute for another member. As a result, I became the Space Coast Chapter member on the State Awards Committee. 
 
Later, I was asked to be a Director on the State Board and no longer continued with my membership for what I could gain from the organization, but for what I could contribute to the organization. In 2010, I was elected President of the Space Coast Chapter and have been President ever since. I also served as State Awards Chair for three consecutive years, and currently am Vice President of the Foundation, and President of the Foundation Advisory Committee.
 
Why do you feel members of the mortgage profession join FAMP?
In my opinion, there are two types of members of all associations, and FAMP is no different. Some join for discounted required education and any other benefits they can gain. Others join FAMP because they take pride in being a member of their industry and work towards the betterment of that industry. In my case, I joined for my benefit, but remain a participating member because I believe in what FAMP does for our industry and our community and want to be a part of its success. If only more members got involved, they would see what a great association FAMP is.
 
What role does FAMP play in the federal and state legislative and regulatory environments? Are there any items on the current agenda you would like to highlight?
FAMP plays a major role in the federal and state legislative and regulatory environments. Our members attend Lobby Day in Tallahassee, speaking with our state legislators about the concerns of the mortgage industry.
 
On the federal level, our Executive Committee goes to Washington, D.C., to speak with federal regulators and legislatures. We are always watching proposed bills that would affect our members or the mortgage industry in general while still in committee to determine if the bill would be helpful or harmful to us. We then send out a Call to Action to our members to contact their Congressman. Currently, the congressional agenda does not contain anything that will affect us.
 
What do you see as your most significant accomplishments with the association?
This is a tough question because whatever is accomplished is done with teamwork. I could say I held the Space Coast Chapter together for the past six years, but I could not have done it without our Board members. On the state level, I have had a voice, which is only meaningful if others listen. Fortunately, the members of FAMP and the Foundation do listen. 
With the Awards Committee, we increased the number of awards given to our members to say thank you for their contributions, and we also had more chapters participating in the awards than had been in the past. But, again, it wasn’t just me, it was the entire committee.
 
What is synergy between FAMP and NAMB?
I have concentrated primarily on FAMP; however, I do know that ideas have been passed back and forth between the two organizations. However, what may work for a national association does not always work locally for a state organization. 
 
As for involvement in the federal legislative process, NAMB is the leader, and makes FAMP stronger through its involvement.
 
In your opinion, what can be done to bring more young people into mortgage careers?
Success in this industry depends on knowledge and good work ethics. In my opinion, internships on the high school and college levels within mortgage companies would afford young people the opportunity to learn from the bottom up on just how the industry works.
 
Too many loan officers start out as just loan officers, and although they have completed all of their education requirements, they do not know the everyday responsibilities of the loan officer. Once they learn it is not a nine to five job, and that they must interact with all parties to the transaction, and sometimes without compensation, they leave the industry. Without knowing the internal workings, they will spin their wheels, and not have the confidence to succeed. FAMP now offers a boot camp for that reason.
 
How would you define your state's housing market?
Right now, Florida’s housing market is good. It is a seller’s market, so the buyers tell me. It appears once they decide to put a bid on a house, there has already been another bid accepted. What used to be an average priced home of $80,000 is now $150,000 and upward. 

Phil Hall is Managing Editor of National Mortgage Professional Magazine. He may be reached by e-mail at PhilH@MortgageNewsNetwork.com.