Whether it is independent mortgage banks or companies with the largest market caps in the world, new products are being developed and rolled out to help drive growth. Apple unveiled new iPhone models, versions of the AirPods Pro, and several smartwatches yesterday. Closer to home, lenders are also exploring new products to drive volume. Newrez announced a 40-Year IO option, designed to increase purchasing power for homebuyers by offering a 40-year loan term with interest-only payments for the first 10 years. The longer loan term does lower monthly payments, though I received a couple reader comments saying the CFPB will certainly be keeping its eye out for any predatory lending practices. Government is omnipresent in the financial industry, and often for the better. New guidance from the Federal Deposit Insurance Corporation (FDIC) regarding multiple re-presentment nonsufficient funds fees suggests that banks eliminate the fees altogether. (Today’s podcast is available here and is sponsored by Candor, home of the One Touch Underwrite, supporting lenders from Point of Sale to Post Close QC. Reduce repurchase risk, increase underwriter productivity by 400 percent, and decrease turn-times by 10 days.) Vendor Happenings You Can Count On MBA! The MBA Membership renewal period is open through September 30. MBA is at the forefront of legislative and regulatory developments impacting your business. We are dedicated to advancing meaningful solutions for you, the communities you serve, and the good of the industry. You can count on us to act swiftly to drive positive outcomes for our members. We work tirelessly to find, implement, and communicate effective solutions to an array of emerging public policy issues that impact the heart of your business. MBA fights every day to keep your company strong. When your organization renews its membership by September 30, you will receive exclusive early renewal benefits including complimentary access to 16 self-study courses and one registration for a flagship course through MBA Education. We have a new addition to our Member Advantage Program, Winnow, a comprehensive compliance database and research tool is offering MBA members a special promotion for a limited time. Our voice is louder when we stick together. Be part of the 2,300 MBA member community! Contact Laura Hopkins for any membership information.