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2013 home sales best since 2006
2013 home sales best since 2006 In Michigan, sales were up 1.5 percent to $126,977, according to the Michigan Association of Realtors. The average sales price rose 12.8 percent to $124,716. The state Lawrence Yun, chief economist for the National Association of Realtors, expects

Roy Sexton's REEL ROY REVIEWS to be Released 2/28
from the University of Michigan. He is a graduate of Leadership Detroit, is a governor-appointed member of the Michigan Council of Labor and Economic Growth and was appointed to the Michigan Mortgage Lenders Association Board of Governors in 2012.

State Updates; Storm May Lead to a Quiet Market; Hiring of and...
For more information on Michigan's consumer protection laws check out its FAQ. Massachusetts is now requiring state-licensed brokers and The Community Home Lenders Association (CHLA) recently marked its one year anniversary. CHLA is composed of

Foreclosure Activity Showing Significant Declines in November
Delinquency data is extrapolated from data received by the Mortgage Bankers Association (MBA) for the third quarter of 2013. "As we approach the seven million mark for completed loan modifications, we remain convinced that the collaborative efforts of

Protesting Mortgage Bankers Association Meeting, October 10th, 2011, Hyatt Regency Chicago

More information at and SOUL is a member organization of National People's Action (http The Hyatt ...

Mortgage association president apologizes to Quicken Loans

The president of the Michigan Mortgage Lenders Association issued an apology to Quicken Loans on Wednesday after making "regrettable comments" about the company to Michigan Public Radio.

The 450-word apology letter from Jim Wickham addresses comments he made in a Feb. 15 story titled "Data analysis: 'Modern-day redlining' happening in Detroit and Lansing."

"In this instance, I failed a long-standing and highly valued member of the MMLA," he said in the letter, referencing the Detroit-based mortgage lender, which is an MMLA Platinum Corporate Partner. "This was an enormous mistake and I want to offer my most sincere apologies to Quicken Loans and its team members who have worked tirelessly to both transform the mortgage process and revitalize the city of Detroit."

Quicken Loans spokespeople did not provide comment Wednesday evening.

The MPR article focuses on the issue of redlining — the practice of denying loans to those deemed to be financial risks.

Data analysis: "Modern-day redlining" happening in Detroit and Lansing

Reveal (a program from The Center for Investigative Reporting) and the Associated Press conducted the yearlong analysis – combing through millions of mortgage records from 2015 and 2016 available via the Home Mortgage Disclosure Act. They found a pattern of denials for people of color in the conventional loan market.

Loan denial rates for Asian, Latino and Native American applicants in both Lansing and Detroit were either not statistically significant for one or both years, or there were not enough total applicants to make an analysis in one or both years. For instance, there were just 22 applicants who identified as Native American in the Detroit metro area and 10 in Lansing.

"It's hard for me to look at the data at the end and say, 'Oh that's discrimination.' I personally just don't believe that happens,” Jim Wickham, current president of the Michigan Mortgage Lender Association, said in response to the analysis.

“Twenty years ago, a lot of times it was people looking at a file and making a judgment call as to whether or not that loan should be approved or denied. In lending today, the process is extremely automated,” Wickham said.