News & Events

Upcoming Events

GSFA Platinum Down Payment Assistance Training
August 18, 2022
1:00 – 2:00 pm

GSFA Platinum Down Payment Assistance Training

Join us for a Lender Training presented by GSFA's Danh Nguyen. This informative event will provide you with the knowledge to help more borrowers with the GSFA Platinum repayable and Platinum's new Assist To Own programs. The more you know about homebuyer assistance programs, the easier it is to match borrowers with the right products to fit their needs.
Originator Connect in Las Vegas – Booth #745
August 19, 2022
8:30 am

Originator Connect in Las Vegas – Booth #745

This year’s Originator Connect, is being held August 19 - 21, in the heart of the Las Vegas Strip at Planet Hollywood Resort & Casino. We’ll be there — and we hope you’ll come, also, as our guest. For free registration use our code MOUNTAINFREE
Getting Comfortable with ARMs Training
August 23, 2022
10:00 – 10:30 am

Getting Comfortable with ARMs Training

Join us on Tuesday, August 23rd at 10am PST for our Getting Comfortable with ARMs training with MGIC's Samantha Steen. We will goes over the basics of ARM loans and which types of borrowers they would help the most as a potential solution to improve affordability for homeownership.
MWF’s Broker Power Learning hosted by Brian Daily, MWF SVP – September
September 7, 2022
9:00 – 10:00 am

MWF’s Broker Power Learning hosted by Brian Daily, MWF SVP – September

Our Broker Power Learning Series is specifically designed to help you improve your business and gain an edge over the competition related to the ever-changing Mortgage Industry! Join us Wednesday, September 7th with MWF's SVP Brian Daily & Guest Speaker.
AzAMP Annual EXPO – Booth #17
September 14, 2022
1:00 pm

AzAMP Annual EXPO – Booth #17

Join us at the 2022 AzAMP Annual Expo at the We-Ko-Pa Resort and Casino Sept 14-15.  Stop by the MWF Booth - we would love to see you!
MWF’s Broker Power Learning hosted by Brian Daily, MWF SVP – October
October 5, 2022
9:00 – 10:00 am

MWF’s Broker Power Learning hosted by Brian Daily, MWF SVP – October

Our Broker Power Learning Series is specifically designed to help you improve your business and gain an edge over the competition related to the ever-changing Mortgage Industry! Join us Wednesday, October 5th with MWF's SVP Brian Daily & Guest Speaker.
NAMB NATIONAL 2022
October 7, 2022
8:00 am

NAMB NATIONAL 2022

Join Us at NAMB National 2022 in Las Vegas, NV at Caesars Palace for this premier 3 Day event packed with hands-on instruction, networking, and shockingly refreshing fun! See you there!
Colorado Mortgage Summit
October 18, 2022
8:00 am

Colorado Mortgage Summit

Join us at the Colorado Mortgage Summit for an incredible lineup of educational sessions, business opportunities, and networking events curated specifically for the entrepreneurial men and women of the Colorado mortgage industry. We can't wait to see you there!
MWF’s Broker Power Learning hosted by Brian Daily, MWF SVP – November
November 2, 2022
9:00 – 10:00 am

MWF’s Broker Power Learning hosted by Brian Daily, MWF SVP – November

Our Broker Power Learning Series is specifically designed to help you improve your business and gain an edge over the competition related to the ever-changing Mortgage Industry! Join us Wednesday, November 2nd with MWF's SVP Brian Daily & Guest Speaker.
MWF’s Broker Power Learning hosted by Brian Daily, MWF SVP – December
December 7, 2022
9:00 – 10:00 am

MWF’s Broker Power Learning hosted by Brian Daily, MWF SVP – December

Our Broker Power Learning Series is specifically designed to help you improve your business and gain an edge over the competition related to the ever-changing Mortgage Industry! Join us Wednesday, December 7th with MWF's SVP Brian Daily & Guest Speaker.

Recent Bulletins

  • 22W-075 Freddie Mac Changes in Borrowers on Refinance Mortgages September 6 2022

    22W-075 Freddie Mac Changes in Borrowers on Refinance Mortgages September 6 2022

    2 2 W -075 Attention: Valued Broker Partners August 09 , 202 2 Freddie Mac – Changes in Borrowers on Refinance Mortgages The following announcement is effective for mortgages with Settlement Dates on or after…
  • 22W-074 Appraisal Requirements for VA Guaranteed Loans

    22W-074 Appraisal Requirements for VA Guaranteed Loans

    2 2 W -074 Attention: Valued Broker Partners August 08 , 202 2 VA Alternative Valuation Methods In this bulletin we will discuss VA’s acceptable alternative valuation methods. Below is VA’s procedure for their Appraisal…
  • 22W-073 CalHFA Equity Builder Review

    22W-073 CalHFA Equity Builder Review

    2 2 W -073 Attention: Valued Broker Partners August 05 , 2022 CalHFA Equity Builder Review In an effort to provide the most affordable products and services, CalHFA is reviewing all loans submitted with a…
  • 22W-072 IRS Transcripts – Supersedes Bulletin 22W-021 2021

    22W-072 IRS Transcripts – Supersedes Bulletin 22W-021 2021

    2 2 W -072 Attention: Valued Broker Partners August 02, 2022 Supersedes Bulletin 22W -021 2021 IRS Tax Transcripts Guidance Allowable Age of Individual Income Tax Returns Allowable age of Individual Income Tax Returns for…
  • 22W-071 $500 Credit for Appraisals on Funded Government Loans

    22W-071 $500 Credit for Appraisals on Funded Government Loans

    2 2 W -071 Attention: Valued Broker Partners August 01 , 2022 $500 Credit for Appraisals on Funded Government Loans Great News!! As a n “August S pecial,” Mountain West® is offering a $500 credit…

Announcements

Covid-19 Industry Update From Gary Martell Jr.

We know the importance of having a strong partnership with a lender you can count on.  At Mountain West Financial we take this responsibility seriously. We understand that your customers depend on you to guide them through the lending experience and that you need information in order to deliver.  You should know that we are committed to supporting you, your borrowers, and the communities we serve as we go through these uncertain times together.  I would like to update you on a few things about the industry and MWF.

We have continued to provide a safe and secure work environment for our staff while providing them a strong technological platform from which they can provide incredible service. Over 95% of our staff is currently working remotely.  We have increased our communication, security, and operational technology to better serve you, your clients, and our staff.

The mortgage markets have become very restrictive based on unknown servicing policies and delinquencies and also have remained extremely volatile.  We have worked closely with the GSEs, the regulators, and our secondary partners to deliver products and processes that align with the marketplace today.  In light of current conditions, here are a few changes in products and processes that we have and/or will be implementing.

  • Due to a of lack of Wall Street interest in supporting communities, Non-QM products have once again left the market.  MWF was not affected, but many lenders were hung out to dry.
  • Many non-bank lenders are limiting exposure to uncertain products such as Jumbo and Bond.
  • We have seen FICO score limitations and guideline restrictions.
  • We are verifying that qualifying borrowers are working the day of funding.
  • We are offering FHLMC/FNMA appraisal and inspection guidelines.  This will allow for many exterior only inspections.
  • Results from IRS transcripts are taking up to two weeks.  Our 4506T process now allows for information to be completed at disclosures so they can be ordered early in the process.
  • With current IRS announcements, we are developing guidance for future loans.
  • Locks and turn times have been extended.

Interest rates have continued their volatile swings.  Even though governments worldwide have intervened to support the markets, they have continued their unprecedented  movements. As many of you are aware, lenders are changing lock policies to mitigate the impact of the market swings. MWF has continued to communicate realistic turn times on our website, but have also adjusted our lock policies accordingly.

I would ask that all of our partners set proper expectations with their borrowers and communicate that current workloads and restrictions created by COVID-19 and unforeseen slowdowns will continue to hinder the loan process.  The unknowns in the marketplace will continue to drive volatility and changes in processes.  Know that we are committed to being the strong partner that has been here for 30 years, understands the importance of partnerships, and will continue to serve you and your clients.

We are honored to have your trust as well as your business,

Gary Martell Jr.
MWF President