CMLA COVID-19 Update
March 27, 2020
A Message from CMLA's President
A Message from CMLA's President
CMLA COVID-19 Resources
We recently launched a COVID-19 Resources page with news and guidance from our industry and government partners.
CARES Act Stimulus Bill Passes House
The House of Representatives passed the CARES Act, which was already approved by the Senate on Thursday. The bill is awaiting the President's signature and if signed, will provide relief to the mortgage industry.
CFPB Provides Flexibility During COVID-19 Pandemic
The CFPB announced that it is providing flexibility to enable financial companies to work with customers in need as they respond to the pandemic.
CHFA is Fully Operational
There are many challenges during these uncertain times. However, Colorado is fortunate to have a strong partner in the Colorado Housing and Finance Authority (CHFA). CHFA has transitioned to a remote working environment and has not missed a beat. They continue to accept, process, and purchase home mortgage loans with the same dedication and to service.
Colorado Homeownership Coalition (CHC) is Helping Homeowners
CHC's Mortgage Assistance Program is a vital resource for Colorado homeowners who are unable to pay their mortgage due to a one-time event such as losing their jobs due to the COVID-19 pandemic. Applicants must meet with a HUD approved Housing Counselor to determine their eligibility for the grant program. Please consider supporting this valuable resource for homeowners by making a donation of any amount.
Treasurer Office and Tax Certificate Update
The Land Title Association of Colorado (LTAC) recommends that title companies order their tax certificates earlier in the process than they have in the past due to partial closures of County Treasurer Offices. Certificates that have special considerations may experience longer delays and could impact the timeline for a loan's closing.
Remote Online Notary
We have been in contact with Senator Gardner's office, Congressman Perlmutter's office, and the MBA to show our support for the passage of the federal "SECURE Notarization Act" legislation. This bill would enable all states to begin using remote online notarization services even if the state legislature has not passed their own remote notary legislation.
Industry Webinars
There is an upcoming webinar that focus on best practices for operating in the new work-from-home business environment.
Webinar: Managing Remote Teams - April 2020
Hosted By: CMLA and Julie Piepho, Milestone Leadership Consulting
Date: Thursday, April 2, 2020
Time: 11:00 AM - Noon (Mountain Time)
Learn about a variety of tips and strategies to effectively manage teams in a work-from-home environment.
Protecting Colorado Communities 
CMLA is committed to responsible homeownership achieved through the practice of integrity-based lending. We believe that a key component of integrity-based lending is doing our part to maintain safe and healthy communities in Colorado. COVID-19 presents a serious threat to the health and safety of Coloradans and we hope you will help us set an example for our communities by encouraging your employees to adhere to the "Stay at Home" order.
Our Commitment 
We will continue to advocate on your behalf and provide updates on legislation and best practices that will help you navigate the impacts of the virus to your business.
Thank you for supporting CMLA and please feel free to reach out to me with any questions or concerns.
Wes Phillips
Executive Director
Colorado Mortgage Lenders Association
(303) 773-9568
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Colorado Mortgage Lenders Association
GREENWOOD VLG, CO 80111-2581