News from the Mortgage Industry

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Alain Valles Installed as President of Massachusetts Mortgage Association

RANDOLPH, MA (November 9, 2007):   Alain Valles, president of Direct Finance Corp., an independent provider of mortgages and reverse mortgages with offices in six states, has been installed as president of the Massachusetts Mortgage Association, a statewide organization of mortgage brokers. Valles will serve a one-year term as president of the Association.

In his inaugural speech as president at the Massachusetts Mortgage Association’s annual meeting, Valles described the mortgage industry as being under a “state of siege,” and urged members to work together to preserve the industry’s independence.

“Mortgage brokers were responsible for sixty-five percent of all mortgages in the United States last year,” Valles noted. “The ‘American Dream’ starts with us.”

The Massachusetts Mortgage Association works to bring about legislation that focuses on consumer protection while protecting the business environment that permits mortgage companies to continue to deliver the variety of products and services consumers need. The Association’s activities include professional educational, compliance advice, and networking events such as an annual showcase conference where brokers and lenders meet. For more information visit www.themmaonline.org.

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