GENERAL MEETING MINUTES

Oct. 1, 2015

President Natalie Moore called the meeting to order at approximately 12:00 noon in the McCarter Room of the Worthington Hills Country Club. She first recognized all the CMBA Past Presidents in attendance and then gave the announcements. Natalie spoke about our next CMBA meeting at which we will have a panel of Realtors and Builders and then talked about our next Social Event, an OSU Football Tailgate to be held on Nov. 7th, in the East Parking Lot of the Ohio Stadium. This tailgate is our way of thanking all our members and sponsors for a wonderful 2015. All members and their families are invited, but must register with Natalie to receive a voucher to enter. Mike Evans, Board Liaison of the Membership Committee came to the podium and first welcomed our two newest members, Arch MI, Shad Belanger will be the member representative and Homeside Financial, Past President Scott Davis will be the voting member. Mike then gave the following readings for membership: a 2nd Reading for a Class B Membership for BakerHostetler Law, Anthony Sharett will be the member representative and a Class A Membership for Park National Bank, Gail Blizzard will be the voting member. He also gave a 1st Reading for Wright-Patt Credit Union, Carrie Poel will be the voting member. The meeting was then suspended for lunch and our Salad Speaker was introduced. Tom Francis Jr. of Real Property Analysts, Inc. addressed many new appraiser issues with the new FHA Handbook 4000.1. All appliances being conveyed as real property have to be turned on by the appraiser and deemed operational. “ Appliances” refers to refrigerators, stoves, microwaves, etc. and not the small appliances. Every room in the home now has to be photographed. Appraisers can go back 3 years if necessary.

The meeting resumed at approximately 12:24 pm. with the introduction of our speaker, Daniel Ruggiero, Director of Housing Counseling & Education for Homes on the Hill. Mr. Ruggiero had spent 8 years with Huntington Bank and currently teaches Spanish at Ohio State University. Homes on the Hill began in 1992 on the west side of Columbus. They rehab properties and sell them. They provide rental and foreclosure counseling. They have to provide a TRID disclosure because of their role and because of Dodd-Frank. They will soon need NMLS numbers. They receive some HUD funds as well as National Foreclosure funding, but they are receiving less and less. There are only a few non-profits left which offer homebuyer education. Those non-profits are Homeport, Columbus Urban League, and Homes on the Hill. The Mid- Ohio Regional Planning Commission, MORPC, no longer provides homebuyer education. Homes on the Hill helps people qualify for loans, with favored lenders, by helping the people fill out the applications and then forwarding them to the lenders. Educating the people to be good, responsible homeowners takes a lot of time. Homes on the Hill also educates Loan Originators/ Officers who are new to working with low/moderate Income homebuyers. Two large lenders pay them for each loan that closes. Loss mitigation packaging is often paid for by the servicers. They integrate homebuyer education into the entire process. Many times the homebuyer education allows for lower MI rates. He asked our member lenders to send him any special programs they might have so they can refer borrowers to us. Since they are approved for Ohio Housing Homebuyer counseling, they get calls for assistance from all over the State of Ohio. They are currently partnered with Homeport on 39 homes. Homeport is the developer and Huntington is the lender. They are offering 15 year lease purchase. Dodd-Frank also requires Home Maintenance Education and Homes on the Hill is also providing this. Most of the people seeking counseling are already approved and they are fulfilling the counseling obligation portion. Mr. Ruggiero then asked for questions and answered a few for the audience.

Natalie thanked Mr. Ruggiero for speaking to us and then adjourned the meeting.

Respectfully Submitted,

Sherry L. Quickel, Executive Secretary

Slq/CMBA