President's Message
A Great Week at the IMA Spring Conference
What an amazing week at the Iowa Mortgage Association! For those of you who were able to attend the Spring Conference in Coralville, you had the opportunity to see four terrific speakers touching on topics ranging from following your passion, how to navigate our current lending environment, what to expect in the next few years and finding the positive in every situation. We also had the chance to celebrate the accomplishments of more than 200 loan originators who met the qualifications for the President’s Club and Winner’s Circle. Congratulations as well to the three loan officers who were top in their category Felisha Junge (Top Credit Union Loan Originator), Jessica Greving (Top Mortgage Banker/Broker Loan Originator) and Gary Presnall (Top Bank Loan Originator). These three combined to close 1,897 loans in 2021 for $415,444,096 in volume. A special thanks to all the attendees, sponsors and exhibitors who made the conference possible.

The general consensus at the conference among speakers and attendees was that business will be tougher to get. For those who have been in the business 15 years or more, we have seen tough markets. For anyone who is newer to the business, this could be something you have never experienced. As I have stated in a prior message, the key to surviving (and even thriving) in a tougher market is to find a way to set yourself apart. If you are not sure where to start, I highly encourage you to register for the Mortgage Bootcamp on April 19 at the Iowa Bankers headquarters in Johnston. This is a tremendous training put together by the IMA's Tim Lamb and David Horak. It will not only show you ways to become more knowledgeable and efficient in your job, but you will be surrounded by industry veterans and peers who can help shape the direction you want your career to go. There is still time to register, and please encourage others to attend as well.
As we head into our busy season, may we all be blessed with higher temperatures and lower interest rates!

Chuck Simmons
Motto Mortgage
Association Updates
Felisha Junge (Green State Credit Union, North Liberty) received the Credit Union Top Lender award.
Jessica Greving (Residential Mortgage Network, Iowa City) received the Mortgage Company Top Lender award.
Over 200 Recognized for 2021 Production
The IMA recognized more than 200 Iowa mortgage professionals during conference with the annual President's Club and Winner's Circle Production Awards. The awards were presented to loan originators for their outstanding production in 2021. This year’s presentation awarded three top lender awards to a bank, credit union and mortgage company. Special congratulations to these winners.
  • Credit Union Top Lender  Felisha Junge, Green State Credit Union, North Liberty
  • Bank Top Lender  Gary Presnall, Northwest Bank, Ankeny
  • Mortgage Company Top Lender  Jessica Greving, Residential Mortgage Network, Iowa City
Thanks for Attending the IMA Spring Conference
Thanks to everyone who attending the spring conference this year. Over 200 mortgage professionals attended the event. This year’s conference included sessions with popular speakers talking about personal leadership, an economic update, mortgage basics and even a final presentation by the Kansas City Chiefs mascot, Dan Meers.

Many thanks to the sponsors who helped make this event possible.
Industry News
HMDA Updates
The Federal Financial Institutions Examinations Council recently announced it added the 2022 A Guide to HMDA Reporting: Getting It Right! to its website. In related news, the Consumer Financial Protection Bureau released modified loan application registers for each financial institution that filed HMDA data collected in 2021. The data is modified to protect applicant privacy. Access the data.
Fact Sheet on Prepaid Interest and ARMs
The Consumer Financial Protection Bureau released a fact sheet on calculating prepaid interest on “short-reset” adjustable-rate mortgages and step-rate loans; meaning ARM loans for which the rate may adjust during the first five years of the loan term. The price-based general qualified mortgage definition contains a special rule for calculating annual percentage rates on such loans where the interest rate may or will change within five years of the first regular periodic payment due date. The fact sheet explains how the rule applies to the calculation of prepaid interest. Read the fact sheet.
Published by Iowa Mortgage Association.