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presents
| Topic: | “Predatory Lending Now That the Dust Has Settled” |
| Presented by: | Will Lund, Superintendent, Maine Bureau of Consumer Credit Protection |
| Date: | Wednesday February 13, 2008 |
| Location | Portland Country Club |
| 8:00-8:30 a.m. | Registration |
| 8:30-9:00 a.m. | Breakfast |
| 9:00-10:00 p.m. | Seminar |
Click here to read the changes to the Bureau of Financial Institutions Regulation 44 and Bureau of Consumer Credit Protection Chapter 550, “Mortgage Lending: Guidelines for Determining Reasonable, Tangible Net Benefit and Ability to Pay” and the “tangible net benefit” form as the result of recent amendments to the Act to Protect Maine Homeowners from Predatory Lending.
The Mortgage Bankers Association of Maine presented a check for $17,000 to Major General John W. Libby of the Maine National Guard on Monday, September 24. The funds were proceeds from the 2007 MBA Golf Tournament held September 11 at Spring Meadows.
Governor Baldacci was on hand to thank the MBA leaders for their generous support of this important fund. Major General Libby accepted the check from MBA Golf Committee chairman Bob Morrill of First Suburban Title Services Company The "We Support Our Troops" fund helps families of deployed Maine troops when they need assistance with such things as home repairs, heating fuel and mortgage payments.
The presentation was shown on Fox 23 TV. If you wish to view the presentation, please go to:
Congratulations to Bob Morrill and the entire golf committee for their hard work in this huge success. They are: Kirk Armstrong, Cornerstone Title; Bob Morrill, First Suburban Title; Rick Rand, MGIC; Sterling Williams, Gorham Savings Bank; Susan Laliberte, Gorham Savings Bank; Tom Lavoie, TD Banknorth; Mary Ann Tilton, Keller Williams; Tina Niles, Republic Mortgage Insurance Co.; and Randy Kempton, Kempton Appraisal.
And special thanks to all of the sponsors and golfers who contributed generously to such a wonderful cause.
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| Ann Johnston of Chicago Title receives a plaque for sponsoring golf carts at the tournament. |
The “Support Our Troops” fund receives $17,000 from the MBA of Maine. Accepting the check from MBA golf tournament chairman Bob Morrill of First Suburban Title Services Co are, left to right: Major General John W. Libby, Maine National Guard; Governor John Baldacci; Morrill; State Representative Don Pilon; and incoming MBA Golf Committee chairman Sterling Williams of Gorham Savings Bank. |
New Office of Consumer Credit Regulation rules will soon require continuing education credits for anyone being licensed as a supervised lender or loan broker, or registered as a loan officer at an institution supervised by the OCCR. Those licensed or registered prior to January 31, 2008 must complete 12 credit hours of approved courses by that date and 12 hours of continuing education annually thereafter. Those registering or seeking licensure after January 31, 2008 must complete an initial 16 hours and 12 hours annually thereafter. (For complete details, go to "www.maine.gov/pfr".)
To help members obtain credits, MBA of Maine will begin offering approved credit-granting courses. Participants who wish to receive credit must pass an exam at the end of the program.
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