President's Message
Fall Is in the Air
Summer is officially coming to an end. Unofficially, it ended once the State Fair wrapped up, school started and Pumpkin Spice Cheerios hit the store shelves. The end of summer also signals the start of the 2023 planning season. Now is the time to take what you have learned this past year and work them into your business. Take a long look at your successes and shortcomings in 2022. Figure out how to double down on what worked for you. For those things that did not quite work out the way you had planned, now is the time to decide if you need to tweak your approach or go in a different direction altogether. Whether it is marketing in a different way, adding in new loan products, learning a new skill or finally applying skills you have previously learned, you can wipe the slate clean and start fresh with the coming of a new year. 
The Iowa Finance Authority's HousingIowa Conference last week was a huge success and people walked away with some great knowledge and ideas to help them succeed in our market. The upcoming IMA Fall Conference is another chance to enhance the knowledge and skill set needed to thrive in a tougher market. From sharpening your sales tools to learning how to market to a new generation of homeowners, this conference will have something everyone can benefit from. We also have a great panel set up with industry leaders who will show ways to help generate a larger pool of buyers. Be sure to register now for this valuable session to help with your future goal planning.

Chuck Simmons
Motto Mortgage
Association Updates
Don't Miss IMA Fall Conference and Golf Outing
The Iowa Mortgage Association Fall Conference is only one month away. The conference will kick off with a four-person best ball golf outing Oct. 17 at Legacy Golf Course in Norwalk. On Oct. 18-19, IMA members are invited to attend the conference at the West Des Moines Marriott. With sessions on goal setting, mortgage compliance, sharpening sales skills, housing programs and more, this is a great opportunity to learn, meet your peers, and recharge. With rising interest rates creating many changes in the market, this is your chance to learn new skills and get a refresher on attracting and retaining business.
Industry News
Servicers Must Maintain Fair Lending Data
The Federal Housing Finance Agency announced that starting March 1, 2023, Fannie Mae and Freddie Mac will require servicers to obtain and maintain fair lending data on their loans, and for this data to transfer with servicing throughout the mortgage term. The fair lending data to be maintained includes borrowers’ age, race, ethnicity, gender, and preferred language. The data must be maintained in a “queryable format” for each mortgage loan originated on or after Mar. 1, 2023 if the data was obtained during the origination process. This update follows a May 2022 announcement, which requires lenders to collect borrowers’ language preference data.
CFPB Issues Warning for Digital Marketers
The Consumer Financial Protection Bureau issued an interpretive rule laying out when digital marketing vendors for financial service providers must comply with federal consumer financial protection laws. Digital marketers that are involved in the identification or selection of prospective customers or the selection or placement of content to affect consumer behavior are typically service providers for purposes of the law and therefore, can be held liable by the CFPB or other law enforcers for committing unfair, deceptive, or abusive acts or practices as well as other consumer financial protection violations. As a result, financial service providers should ensure digital marketing vendors are subject to their vendor due diligence process and contracts clearly state the provider must comply with all consumer protection laws. Read the interpretive rule. 
Published by Iowa Mortgage Association.