President’s Message

As we welcome a new year, we also welcome new opportunities for growth, innovation and collaboration within Iowa’s mortgage industry. The year ahead promises both challenges and possibilities, and it is our collective expertise and commitment to excellence that will continue to strengthen our profession.

The IMA remains dedicated to supporting our members through education, advocacy and meaningful connections. As market conditions evolve, the IMA will continue to provide timely resources, legislative insights and professional development opportunities to help you navigate change with confidence.

This year, we look forward to expanding our programs and reinforcing our shared mission of promoting responsible lending and homeownership across Iowa. Together, we will continue to uphold the highest standards of integrity while embracing innovation that benefits our members and the communities we serve. Keep a close watch on developments from the current federal administration and announcements from the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) for ideas being discussed to enhance affordability and housing supply.

Thank you for your continued engagement and support of the IMA. I wish you a successful and prosperous new year filled with new mortgage possibilities.

Association Updates

It’s time to renew your IMA membership. By addressing current issues in government relations, public relations, professional development and more, the IMA connects the mortgage community through education and resources to promote homeownership. Please join the IMA for another successful year by renewing your membership. Through membership in the IMA, you will receive:



• Monthly updates through IMA Prime Times
• Discounts on IMA program registration fees, including the annual spring and fall conferences
• Legislative efforts to strengthen the industry
• Industry information and association updates via the IMA website

Membership renewals were emailed to your company’s main contact in early December. You can also renew your membership by contacting Darcy Burnett.

The IMA Spring Conference returns March 24-25 at the Hyatt Regency in Coralville, bringing Iowa’s mortgage professionals together for education, networking and inspiration. The event kicks off Tuesday evening with a welcome reception featuring games and friendly competition before Wednesday’s full conference agenda begins. Hear from industry experts, including Stacia Skinner on building impactful business relationships and Les Sulgrove with a forward-looking market outlook for this year. Attendees will enjoy breaks with exhibitors and a recognition of IMA’s top producers. Read more.

The IMA is excited to open applications for the 2025 President’s Club and Winner’s Circle awards. This longstanding recognition program celebrates exceptional mortgage originators who demonstrate outstanding production, professionalism and commitment to serving borrowers across Iowa. Honorees of the 2025 President’s Club and Winner’s Circle will be formally recognized at the IMA Spring Conference on March 25.

To be eligible, applicants must be an IMA member in good standing and originate loans in the state of Iowa. Out-of-state production will be considered, but the home base or branch of the originator must be located in Iowa. Minimum origination eligibility is $15 million or 100 units of residential loan volume in 2025 for Winner’s Circle and $20 million or 130 units of residential loan volume in 2025 for President’s Club. Applications must be verified by a manager, president, accountant or CFO.

To apply, click here. Entries must be received by Friday, Feb. 20. If you have multiple applications to submit, please email Maggie Klocke.

Industry News

The Consumer Finance Protection Bureau recently announced the period for filing Home Mortgage Disclosure Act (HMDA) data collected in 2025 is now open, with submissions considered timely if received on or before March 1. As a reminder, when the last day for submission falls on a Saturday or Sunday, a submission shall be considered timely if it is submitted on the next succeeding Monday. Since March 1 falls on a Sunday this year, HMDA filers will have until Monday, March 2 to submit a timely HMDA loan application register. 

In December, Freddie Mac released Bulletin 2025-16, which updated the servicer guide to address artificial intelligence (AI) and machine learning (ML) systems. The updated sections apply to originations of mortgages sold to or guaranteed by Freddie Mac, as well as those servicing mortgages on behalf of Freddie Mac.

As stated in the guide, sections have been “updated to enhance requirements and best practices to ensure transparency, accountability and ethical stewardship within AI/ML initiatives.” Changes go into effect March 3.

2026 Regulatory Thresholds

The federal regulatory agencies released a number of adjustments to regulatory compliance thresholds during the month of December. All listed thresholds went into effect on Jan. 1, 2026:

• Reg. Z exemption for non-real estate loans — The exemption threshold for consumer-purpose loans, not secured by a dwelling or real property, is adjusted to $73,400. (Dec. 15, 2025 Federal Register)

• Reg. M lease threshold — The dollar threshold for exempt consumer leases is adjusted to $73,400. (Dec. 15, 2025 Federal Register)

• Reg. Z high-cost mortgage points and fees trigger — The Home Ownership and Equity Protection Act points-and-fees threshold for loan amounts less than $27,592 is adjusted to the lesser of 8% of the total loan amount or $1,380; for loan amounts over $27,592, the maximum points and fees is limited to 5% of the total loan amount. (Dec. 15, 2025 Federal Register)

• Reg. Z qualified mortgage (QM) pricing test — In order to qualify as a QM as of Jan. 1, a covered transaction’s annual percentage rate may not exceed the average prime offer rate for a comparable transaction as of the date the interest rate is set by the following amounts:
• For a first-lien covered transaction with a loan amount greater than or equal to $137,958, 2.25 or more percentage points;
• For a first-lien covered transaction with a loan amount greater than or equal to $82,775 but less than $137,958, 3.5 or more percentage points;
• For a first-lien covered transaction with a loan amount less than $82,775, 6.5 or more percentage points;
• For a first-lien covered transaction secured by a manufactured home with a loan amount less than $137,958, 6.5 or more percentage points;
• For a subordinate-lien covered transaction with a loan amount greater than or equal to $82,775, 3.5 or more percentage points;
• For a subordinate-lien covered transaction with a loan amount less than $82,775, 6.5 or more percentage points. (Dec. 15, 2025 Federal Register)

• Reg. Z QM points and fees test — As of Jan. 1, a covered transaction is not a QM unless the transaction’s total points and fees do not exceed:
• For a loan amount greater than or equal to $137,958: 3% of the total loan amount;
• For a loan amount greater than or equal to $82,775 but less than $137,958: $4,139;
• For a loan amount greater than or equal to $27,592 but less than $82,775: 5% of the total loan amount;
• For a loan amount greater than or equal to $17,245 but less than $27,592: $1,380;
• For a loan amount less than $17,245: 8% of the total loan amount. (Dec. 15, 2025 Federal Register)

• Reg. Z small loan appraisal exemption for higher priced mortgage loans (HPMLs) — HPMLs in an amount of $34,200 or less are exempt from the requirement to obtain an appraisal from a state-licensed or certified appraiser. (Dec. 16, 2025 Federal Register)

The Consumer Financial Protection Bureau issued two additional threshold adjustments in early January for 2026. The following thresholds went into effect on Jan. 7:

• Reg. C (HMDA) — The asset exemption threshold will increase from $58 million to $59 million. Institutions below this asset threshold are exempt from HMDA reporting. (Jan. 7, 2026 Federal Register)

• Reg. Z small creditor asset threshold — The asset size threshold will increase from $2.717 billion to $2.785 billion. Small creditors are exempt from the qualified mortgage pricing test, as well as the requirement to escrow in connection with a first-lien higher-priced mortgage loan. (Jan. 7, 2026 Federal Register)