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UAMP's November 2018 Luncheon will be held Thursday, November 15 at Noah's, 322 West 11000 S in South Jordan, Utah from 11:30 a.m.-1:00 p.m.
UAMP's November 2018 Luncheon will be held Thursday, November 15 at Noah's, 322 West 11000 S in South Jordan, Utah from 11:30 a.m.-1:00 p.m.
 
Learn what is expected for upcoming years through 2050, including these three takeaways:
►What is Utah's economic forecast?
►How is the market change going to affect housing projections in Utah?
►Will the rise in interest rates have an effect on the mortgage industry in Utah?

You don't want to miss this information! 

Josh Romney is the Founder and President of The Romney Group, which owns and operates multifamily, office, and industrial properties throughout the U.S. Josh serves as President of Charity Vision International, which partners with local doctors in developing nations in an effort to establish sustainable eye care programs. The organization currently performs over 80,000 surgeries annually in 28 different countries. Josh also serves as a Board Member of Shelter the Homeless, which is a non-profit organization focused on helping families and individuals facing homelessness in the Salt Lake City area. He also serves as an Executive Board member at the Romney Institute at Brigham Young University and as a Board Member of the Kem C. Gardner Policy Institute at the University of Utah.

 
Click here for more information.

 
Jessica Bostic is a Utah-based Senior Account Executive for Franklin American Mortgage Company and President of the Utah Association of Mortgage Professionals (UAMP)
Jessica Bostic is a Utah-based Senior Account Executive for Franklin American Mortgage Company and President of the Utah Association of Mortgage Professionals (UAMP). National Mortgage Professional Magazine recently spoke with her regarding her work with the state trade association.
Jessica Bostic is a Utah-based Senior Account Executive for Franklin American Mortgage Company and President of the Utah Association of Mortgage Professionals (UAMP) 
How and why did you get involved with the Utah Association of Mortgage Professionals? Can you share the track that led to the leadership role in this group?
This is the first time I’ve physically lived in my territory as an Account Executive, so I was really excited to finally have the opportunity to become involved in a state trade association. I opened Franklin American Mortgage Company’s Inside Sales Division in 2011 and worked remotely, until relocating to Utah in 2013. I am an activist by nature, so when I discovered the legislative issues that needed addressed within the industry, UAMP was the first step in taking action. I also enjoy the connection UAMP provides with industry peers and professionals.
 
I started on the Membership Committee and, honestly, I just put in the work. I was elected to a Board position in February of 2014. Since then, I’ve successfully served different roles and chaired different Committees, which led the Board to nominate me as the 2018 UAMP President. For anyone else looking to pursue a leadership role in their own organization, I recommend joining a Committee that interests you and putting in the time. Your efforts will get noticed and additional opportunities will present themselves.
 
Why do you feel members of the mortgage profession in Utah join UAMP?
I believe our members join for the valuable information and training we put out, and some for the connectivity. I wish that more Utah mortgage professionals joined because they felt a sense of duty to support their industry trade association and the legislative endeavors we pursue on their behalf. But, unfortunately, I don’t believe that’s the case often enough here.
 
What role does your association play in the federal and state legislative and regulatory environments, and are there any items on the current agenda you would like to highlight? 
We have a strong presence on both levels. We have a great relationship with the Utah Division of Real Estate and we consult each other when potential legislation is presented. The last few years have been much more active federally, than they have on a state level.
 
After four years of lobbying, we’re making crazy progress on legislation to remove broker compensation from the three percent cap, which will help low- to moderate-income earners obtain financing and level the playing field across origination channels. That bill is HR 2570 and should be up for House vote Christmas Eve, I believe. Lauren Patterson, my Government Affairs Committee Chair, just advised me of progress on the “Support Consumer Choice of Mortgage Providers on Builder Transactions” initiative. Please keep an ear out for more on that if the builder/preferred lender relationships are of interest to you; that is a popular topic amongst a good majority of the originators I’ve spoken to. 
 
Many of my Board Members have been instrumental in all of the flood insurance legislation. And we are also working on HR 5534, the Guide Act, to request the CFPB to issue clarification and guidance on rules within a reasonable amount of time, which is a big deal for lenders currently trying to navigate some of the ambiguity.
 
Jessica Bostic is a Utah-based Senior Account Executive for Franklin American Mortgage Company and President of the Utah Association of Mortgage Professionals (UAMP)What do you see as your most significant accomplishments with the association?
My most significant contribution to UAMP has probably been increasing and diversifying our membership base. I was one of the first “Industry Professionals” to be elected to the Board, along with Trent Hendry. I think the Board’s decision to include us was key, as it really opened up membership opportunities. AEs and title folks see a lot of mortgage professionals in any given week or month. I believe that I’ve been able to increase participation from the younger mortgage professionals in Utah, which has brought some really innovative and unique contributions and ideas that will benefit the UAMP going forward.
 
What is synergy between your organization and NAMB?
Considering that the President of NAMB, John G. Stevens, is a longtime veteran of the UAMP Board, we are very closely tied to NAMB. Nathan Pierce and Laurie Christiansen also serve on the NAMB Board, and Lauren Patterson and myself serve on a handful of NAMB Committees. UAMP feels strongly about supporting the national organization & utilizing NAMB to stay connected with Washington, D.C. and the national mortgage agenda, as well as state endeavors across the country.
 
In your opinion, what can be done to bring more young people into mortgage careers?
Innovation, technology and brand authenticity are key for companies looking to attract young professionals. I think that younger generations will become increasingly interested in the mortgage industry as false stereotypes and negative perceptions continue to fade.
 
I also think it’s important for mortgage companies to focus on the inclusion of younger professionals. As a Millennial myself, I believe that positive industry perception and technological advances will increase interest levels and targeted recruiting campaigns will connect these younger individuals with mortgage companies. This leaves the issue of training, so companies also need to focus on ways to incorporate education and training into the mix. AEs and MI companies are great resources for smaller companies to lean on for this. I personally focus a great deal on helping my clients recruit younger originators. I provide training on everything from taking a 1003 to building referral relationships. 
 
How would you define your state's housing market?
Hot! Salt Lake has been listed on a number of “Top 10 Housing Market” lists over the past year. Often called “Silicon Slopes,” our market has earned a reputation for our strong IT talent pool and increasing number of technology companies looking to call Utah home. A robust regional economy, reasonable cost of living, low crime rates and some of the best outdoor recreation in the country continue to attract people to Salt Lake in droves. In combination with a decrease in inventory, this is driving home values upward.
 
The Salt Lake City market is currently in a positive trend, median list price increased 12 percent year over year and one percent from June to July 2018. Average DOM is down eight percent from last year and median price per square foot is up 11 percent year over year. State officials are working to address the impending housing shortage, and hopefully we’ll see some relief there, but the fact that so many people are anxious to call Utah home is phenomenal. Aside from the deficit, the future of the Utah housing market looks as bright as ever.

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

 
The Salt Lake Chamber, Utah’s largest business organization, has started a public awareness campaign to call attention to the state’s housing imbalances
The Salt Lake Chamber, Utah’s largest business organization, has started a public awareness campaign to call attention to the state’s housing imbalances.
 
According to a Salt Lake Tribune report, the organization is hosting a quarterly series of “big tent” meetings around Utah that will bring greater attention to rising home prices and the evaporation of housing affordability. Derek Miller, the Salt Lake Chamber’s President and CEO, noted there is an estimated shortage of about 250,000 homes in Utah and he dubbed the housing deficit “one of the greatest challenges we face.” Failing to address it, he said, threatens Utah’s quality of life and its record-breaking economic growth.
 
In its initial meeting, the Chamber brought together nearly 200 elected officials, developers, bankers, professional planners, media specialists and housing advocates to discuss the issue and consider potential solutions. The Chamber plans to meet with every city council in the state and create an advertising and social media campaign to encourage further public discussion.
 
Median home prices in Utah are now at $347,000, while prices in Salt Lake County are approximately 20 percent higher than competing urban markets, including Boise and Phoenix. Complicating matters is a booming population: Utah is expected to add another two million people by 2050 to the three million residents in the state.
 
“There needs to be a thoughtful dialogue and discussion on what these communities are going to look like, how they’re going to address and absorb some of the population growth that’s coming, in a responsible manner,” said Abby Osborne, the Chamber’s Vice President of Public Policy and Government Affairs. “But, really, turning our back on it is just not acceptable to us.”

 
PRMI Giving Network volunteers recently lent their hands at the Salt Lake Valley Habitat for Humanity, helping construct two homes for the “Field of Dreams-Eco Community” project in Kearns, Utah
PRMI Giving Network volunteers recently lent their hands at the Salt Lake Valley Habitat for Humanity, helping construct two homes for the “Field of Dreams-Eco Community” project in Kearns, Utah. Team members donated more than 150 hours over the course of two days to help build these homes for Utah families.
PRMI Giving Network volunteers recently lent their hands at the Salt Lake Valley Habitat for Humanity, helping construct two homes for the “Field of Dreams-Eco Community” project in Kearns, Utah
 
Developed by the non-profit organization and the University of Utah, the “Field of Dreams-Eco Community” homes are energy efficient, 1,500-square-feet houses that only use $1.50 in energy costs per day. Salt Lake County has approved 20 homes to be built in the new development. The Giving Network’s team members worked on the first and second homes being built in the Field of Dreams project.
 
“We admire the great work that Habitat for Humanity does for low-income families in the community,” said Dave Zitting, Chief Executive Officer of PRMI. “As a local mortgage lender, we understand just how special and important owning a home is to a family. We are grateful for the opportunity to support a local organizations working towards satisfying the needs of our community.”
 
Through volunteer labor and donations of money and materials, Habitat for Humanity builds and rehabilitates simple and affordable homes for low-income families. Recent surveys show nearly a quarter of homeowners in the U.S. pay more than 30 percent of their income to their housing, making it difficult to afford necessities such as food, clothing, or medical care. Stable housing is foundational to build self-reliance, stability, and quality of life. This is the second opportunity the PRMI Giving Network has worked on this Habitat for Humanity project in eight months.
 
“Our homes are for the most part built by volunteers allowing us to pass on the savings directly to our new homeowners, without them we cannot make these homes so affordable” said Candice Diggs, Volunteer Coordinator for Habitat for Humanity Salt Lake City.”

 
The UAMP April Luncheon will be held Thursday, April 19 at the Brick Oven, 10622 South River Front Parkway in South Jordan, Utah
The UAMP April Luncheon will be held Thursday, April 19 at the Brick Oven, 10622 South River Front Parkway in South Jordan, Utah.
 
Join the Utah Association of Mortgage Professionals and Matt Atkinson with MJARE as we discuss the ins and outs of being a successful real estate investor. This course will be very informative to both loan originators and real estate agents.
 
Click here for more information.

 
 
 
The UAMP Annual Mortgage Expo is set for Friday, September 7 at the Marriott @ City Creek, located at 75 South West Temple in Salt Lake City, UtahThe UAMP Annual Mortgage Expo is set for Friday, September 7 at the Marriott @ City Creek, located at 75 South West Temple in Salt Lake City, Utah.
 
The Utah Association of Mortgage Professionals is excited to announce, Utah's Lieutenant Governor, Spencer J. Cox as a keynote speaker at the annual UAMP Expo.
 
Spencer J. Cox, Utah’s 8th Lieutenant Governor, is from Fairview, Utah where he currently resides with his wife, Abby and their four children. He is a graduate of Snow College, Utah State University and Washington and Lee Law School. He formerly practiced law with Fabian & Clendenin and was Vice President and General Counsel of CentraCom. He has served as a councilman and mayor of Fairview, as a Sanpete County Commissioner and in the Utah House of Representatives.
 
Lt. Governor Cox is by statute the chief election officer of the state and the liaison between the governor and legislature. He travels extensively throughout the state supporting economic development and local government solutions. He is committed to strengthening families, transforming education, increasing voter participation, utilizing modern technologies, promoting healthy living and empowering the homeless and impoverished.
 
He and his family enjoy spending time in Utah’s amazing backcountry. He also plays the bass guitar with his brother in a local rock band.
 
For more information, visit UAMP.net.

 
Jessica Bostic is a Utah-based Senior Account Executive for Franklin American Mortgage Company and President of the Utah Association of Mortgage Professionals (UAMP)
President, Utah Association of Mortgage ProfessionalsTrent Hendry is a Vice President and Escrow Officer at Salt Lake City-based Mountain View Title and President of the Utah Association of Mortgage Professionals (UAMP). National Mortgage Professional Magazine recently spoke with him regarding his work with this association.
 
How did you get involved with the UAMP? What was the track that led you to the association’s leadership role?
I got involved to serve and help out my fellow mortgage people. I began serving on the UAMP Board in 2013, and became President because they asked me serve. I was flattered that they would regard me so highly and I gladly accepted the appointment.
 
Why should mortgage professionals in Utah join UAMP?
UAMP helps our mortgage originators get the necessary education needed to be better loan officers. This includes the NMLS continuing education requirement for licensing, as well as other educational topics to improve their marketing and ability to close loans. On the advocacy side, legislation is a big part of what we do. We work in the state capital to keep an eye on the legislature, while giving a voice to the mortgage industry. We help protect consumers and make the lives of the originators a little easier. We have Capital Day, where many UAMP members gather and talk about current legislation and issues that we feel need to be dealt with. We also work on a national level, going to Washington, D.C. for the Annual Legislative & Regulatory Conference.
 
Utah Association of Mortgage Professionals (UAMP)How many members are currently in the UAMP?
We currently have about 70 members. We started the year with 50 members, and we are projecting to have 120 by the end of the year.
 
There was recently a bit of drama involving your Annual Expo. What was the story behind that?
Our Annual Expo is our biggest event of the year. This year, a company came into the state and held a similar expo. It did created some confusion initially, but in the end our Board was able to work hard to clear up the confusion and we had a great Expo, one of our best attended Expos ever. In fact, we have one of the best attended Expos in the nation here thanks to the great mortgage people in our state.  We are lucky to have a lot of amazing mortgage experts in our state.
 
What is the UAMP’s relationship with NAMB?
We are the state affiliate for the national association, NAMB. When people become members of UAMP, they are automatically enrolled as a member with NAMB. We feel it is equally important because NAMB is a big part of what we can do on a legislative front in Washington, D.C. There is power in numbers, and NAMB provides that amongst many other benefits for our local members.
 
In other parts of the country, there is concern that not enough young people are coming into the industry. Is that a problem in Utah?
It was from 2008-2012. I’ve seen a little bit of an increase over the last year or two. I think the Millennial generation may have been scared off during the recession, but now we see more young people come in, not only as originators, but also in the title insurance sector where I work as well on the Realtor side. It is exciting to see their enthusiasm for our great industry.
 
What is the state of the Utah housing market?
Booming. It is extremely busy. But we are dealing with a supply and demand issue–there is a lot of competition, and offers are being accepted in record times.
Phil Hall is Managing Editor of National Mortgage Professional Magazine. He may be reached by e-mail at PhilH@MortgageNewsNetwork.com.
 
The UAMP Golf Tournament 2017 will be held Friday, Aug. 18 at the Homestead Golf Club & Resort, 700 North Homestead Drive in Midway, Utah.
 
UAMP will offer a great day of golf at the beautiful Homestead Golf Club & Resort, including a four-person scramble, breakfast and a lunch and awards receptions following the tournament. At the tournament, UAMP will be giving away great prizes including an all-expenses paid cruise for two lucky winners!  Included with your online registration is a one-year subscription to Golf Digest (a $10 value). Click here for offer and refund details.
 
Click here for more information, or contact John Stevens by phone at (801) 427-7111 or e-mail JohnGStevens@Gmail.com.

 
 
UAMP Expo 2017 is set for Thursday, Aug. 31 at the Salt Lake Marriott Downtown at City Creek, 75 South West Temple in Salt Lake City.
 
Don't miss this opportunity to network with the area's top mortgage professionals! This event has consistently drawn over 600 attendees to this one day event! With this year's great location, we expect even better attendance!
 
Exhibitors, this year's venue features a larger exhibitor hall which will make this the best mortgage networking event in Utah! Early Bird Trade Show Registration is now open!
 
Click here for more information or contact Valerie Saunders at (904) 651-3143 or e-mail valsaun@gmail.com.

 
 

Join the Utah Association of Mortgage Professionals (UAMP) for this informative and IMPORTANT update of upcoming loan program changes, Thursday, Jan. 19 for "Introduction to the NEW WORLD of Digital Mortgages and Agency Guideline Updates for 2017," to be held at Brick Oven, located at 10622 South Riverfront Parkway in South Jordan, Utah at 11:30 a.m.

Topics will include, Fannie Mae's Day 1 Certainty digital income and asset verification, property inspection waivers (PIWs) update, property value reps and warrants, and HomeReady enhancements. Freddie Mac's upcoming changes to tax returns for self-employed borrower\'s will also be covered.

Click here for more more information.