President’s Message

Are concerns over market conditions, interest rates and housing trends making you hesitant? In a shifting landscape, success isn’t about waiting for the perfect conditions — it’s about creating opportunities. One of the most underutilized sources of business is revisiting old preapproval leads. Buyers who once explored homeownership but didn’t take the next step may simply be waiting for guidance, and it’s our job to show them their dream is still within reach.

Reignite these conversations by offering renewed opportunities — updated loan options, market insights, and tailored affordability strategies. A simple check-in call or personalized email can reopen doors and spark renewed interest.

Beyond leads, long-term success comes from deepening relationships with clients, realtors and industry partners. The most resilient lenders stay visible, educate their communities and position themselves as trusted advisors. Hosting first-time homebuyer workshops, collaborating with realtors on creative financing solutions, and sharing expert insights all create momentum, even in uncertain times.

Markets will always shift, but our commitment to service and connection should remain steady. By staying proactive, offering tailored solutions, and keeping relationships at the heart of our business, we can navigate challenges and continue to grow.

Let’s lead with confidence, adaptability and innovation.

Association Updates

The IMA is pleased to announce the President’s Club and Winner’s Circle, an ongoing awards program that recognizes outstanding mortgage loan production. Entries must be submitted here by Friday, Feb. 28. All members of the 2024 President’s Club and Winner’s Circle will be honored at the IMA Spring Conference on April 2.

Take your mortgage career to the next level with insights from industry leader Dustin Owen, creator of The Loan Officer Podcast. Join us April 1-2 at the Hyatt Hotel in Coralville for his session — Becoming a Next Gen Originator.

Other conference topics include an Iowa economic update, industry and advocacy hot topics, leadership development, relationship building and networking. For the full agenda and to register, click here.

The popular IMA Mortgage Bootcamp is returning April 15. Designed for those who work in the mortgage industry, this seminar will walk you through the mortgage loan cycle and everything you need to be a stronger mortgage loan officer. This intensive session provides opportunities to learn from seasoned experts and gain advanced knowledge of each step in the mortgage process, including:

• Taking a great application
• Processing
• Underwriting
• Secondary market
• Compliance
• Private mortgage insurance (PMI)

This full-day seminar is a must-attend event for newer loan originators. A past seminar attendee said, “This was a great seminar, especially for someone with less than a year in the field. I found so many useful pieces of information to restructure how I approach a loan and handle my daily tasks to be more successful in this job.” Details and registration.

Industry News

In early December, the U.S. Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) issued a joint letter reiterating the responsibility to recognize interest rate protections that exist for servicemembers, recent veterans, and their spouses under the Servicemembers’ Civil Relief Act (SCRA). The SCRA limits the amount of interest that may be charged on certain financial obligations incurred before military service began to no more than 6% per year, including most fees and charges. The 6% SCRA benefit applies to all types of financial obligations and liabilities, including credit cards; automobile, ATV, boat, and other vehicle loans; home equity and mortgage loans; and student loans.

For mortgages, interest is capped at 6% during the entire period of military service and for one year after military service. For all other obligations, interest is capped at 6% only for the duration of military service.

The letter provides several reminders on who is covered and when coverage starts. It also encourages creditors to go beyond the letter of the law by providing rate relief to eligible borrowers after checking the Defense Manpower Data Center (DMDC) database, rather than waiting for borrowers to request relief. Creditors are also encouraged to provide rate relief on all eligible loans for a borrower, even if they only seek relief on one particular loan.