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This isn’t a commentary. It’s a “next level experience!” How are we in the week ending the first quarter already? Here’s some news that will be greeted with glee by every independent mortgage banker in the nation, whether they do business in California or not. The California MBA and national MBA, and constituents across the state, have defeated the CRA requirement for non-depository institutions in that CA. Given that 20-25 percent of residential production comes from the Golden State, it has wide ramifications. CEO Susan Milazzo tells me that the author of SB 1176 is removing all current CRA language. (Proponents of CRA requirements for IMBs relied, in part on a Greenlining Institute report.) What else are independents watching? A recent STRATMOR workshop indicated that the technology dollars spent is down for some large banks, but appears to have increased for some large IMBs as they are more likely to have transaction-based pricing than large bank ....