Friday, February 25, 2011

NHORA Celebrates One Year Anniversary- Installs National Leadership Council



Real Estate Professionals organize a trade association to elevate professional standards and promote commerce through sustainable home ownership in the Latino community

FOR IMMEDIATE RELEASE

San Francisco – February 23, 2011 – The National Hispanic Organization of Real Estate Associates celebrates its first anniversary at an event in San Francisco St. Mary’s Cathedral. At this gathering, Patricia Lindo will be installed as the national board chair and the National Leadership Council will be activated.

NHORA National past President Richard Gonzalez said “I am delighted to have played a key role in getting NHORA off the ground and proud to see Patricia step up to the top leadership role”.

NHORA National Board Member, Jorge Carcamo of San Francisco adds “Patricia has a tremendous passion for NHORA’s commitment to transparency, leadership development, highest ethical standards and to our Latino community. The President’s Council is important component of our governance to ensure transparency and leadership development.”

The impact of the current economic market has had a disproportionally higher negative impact on Hispanic communities. NHORA has been created to help thwart this kind of damage in our communities and further educate and empower ethical professionals and the consumers they serve.

Patricia Lindo said “Some of us have been advocating for many years for a true trade association that focus on sustainable home ownership in the Latino community. I am humbled and honored to lead this organization and take it to the next level.”

NHORA Membership opportunities are open to industry professionals and leaders in Housing, Banking, Ancillary Service Providers and housing related Business Owners with chapters scheduled nationwide.

For more information go to www.NHORA.com

Friday, February 04, 2011

Latin Builders Association® Celebrates 40th Anniversary

The Latin Builders Association® (LBA), the largest Hispanic construction association in the United States, will celebrate its 40th anniversary in 2011. Since inception in 1971, the LBA has strived to provide a vital forum for discussion, networking, training/development and representation at the local, state and federal level.

The LBA’s core goal is to represent and further the interests of the South Florida Community, the local building industry, and the individuals and companies that strive day after day to make our community a better place to live, work and play.

“We are grateful to have grown as an association and to have experienced the journey we have endured over the past 40 years,” said Noelia E. Moreno, President, Latin Builders Association®. “The LBA was first started because our fathers and grandfathers were looking to have access to the building opportunities in Florida and were eager to be welcomed into our community and, as a united front, they were able to experience much success and worked hard to become recognized and valued for their hard work. We look forward to continuing to make them proud and follow the lead that they have paved for us in the years to come while accepting change.”

Further defining the LBA’s commitment to the community is the LBA Children and Families Foundation which houses the organization’s philanthropic work to formalize and further extend LBA’s involvement and commitment to providing help to those in need. Even in the midst of tumultuous times, the association continues to recognize the importance of educating our future workforce and providing for those who benefit from a helping hand. LBA’s philanthropic ventures are made possible through the commitment of the members to help the community one child at a time.

Established in 1971 by a group of local contractors, Latin Builders Association, Inc. ® has embodied the interests of builders, developers, contractors, architects, engineers, plumbers, electricians and tradesmen associated with the business of construction, striving to provide a vital forum for discussion, networking, training/development, and representation at the local, state and federal level. Today, we are the largest Hispanic construction association in the United States, representing over 750 member companies throughout South Florida.

www.latinbuilders.org

HUD INVESTIGARÁ ALEGACIONES SOBRE BANCOS QUE DISCRIMINAN CONTRA LATINOS

HUD INVESTIGARÁ ALEGACIONES SEGÚN LOS CUALES 22 BANCOS Y PRESTAMISTAS HIPOTECARIOS DISCRIMINAN CONTRA AFROAMERICANOS Y LATINOS QUE BUSCAN PRÉSTAMOS

WASHINGTON – El Departamento de Vivienda y Desarrollo Urbano de los Estados Unidos anunció hoy que está iniciando múltiples investigaciones a varios prestamistas hipotecarios para determinar si sus políticas de préstamos denegaron ilegalmente acceso a crédito a prestatarios calificados de origen afroamericano y latino.

Las investigaciones surgen en respuesta a 22 quejas presentadas ante HUD por la Coalición Nacional de Reinversión Comunitaria, (NCRC por sus siglas en inglés), National Community Reinvestment Coalition, alegando que las actividades de préstamos de los originadores de hipotecas mostraron que sus prácticas de préstamo denegaron préstamos asegurados por la Administración Federal de Vivienda FHA a afroamericanos y latinos con puntaje de crédito de hasta 640. Las guías de FHA permiten asegurar hipotecas a prestatarios con puntaje de crédito superior a 580, provisto que los prestatarios realicen un pago inicial igual al 3.5 por ciento del monto del préstamo, o con un puntaje superior a 500, si los prestatarios realizan un pago inicial equivalente al 10 por ciento del valor del préstamo.

"FHA es un importante vehículo para los estadounidenses que desean comprar o refinanciar una vivienda. Agradecemos a NCRC por presentar estas quejas ante HUD. Para los prestamistas a negar esta fuente de crédito a compradores responsables, sin consideraciones de su capacidad para pagar el préstamo, crea preocupaciones muy serias de igualdad en la vivienda y, de comprobarse, menoscabaría los esfuerzos de recuperación de nuestra nación", dijo el secretario adjunto de HUD para Equidad de Vivienda e Igualdad de Oportunidades, John Trasviña. "HUD tomará acción apropiada en contra de cualquier prestamista que se encuentre realizando prácticas discriminatorias."

Con antelación al reciente retroceso en la economía, los préstamos asegurados por FHA equivalían a menos del tres por ciento de los préstamos de nuevas viviendas. Desde la crisis económica, FHA y las empresas patrocinadas por el gobierno – GSA Government-Sponsored Enterprises- han asegurado o garantizado cerca del 95 por ciento de los nuevos préstamos hipotecarios que se han originado. Al final de 2008, casi la mitad de los préstamos de compra de nuevas viviendas y un cuarto de los nuevos préstamos de refinanciación fueron asegurados por FHA o la Administración de Veteranos, (VA por sus siglas en inglés).

Según NCRC, una asociación de más de 600 organizaciones comunitarias que promueven el acceso a los servicios bancarios básicos, sus "probadores" que observan las prácticas prestatarias equitativas evaluaron las prácticas de los prestamistas nacionales, las empresas de servicios financieros, y otros prestamistas aprobados por FHA regionales y locales. En las quejas presentadas el 7 de diciembre, NCRC indicó que los prestamistas fueron elegidos según la cuota de mercado, el volumen de préstamos de FHA y discusiones con los líderes comunitarios.

Bajo la Ley de Equidad de Vivienda, HUD investiga las alegaciones de discriminación de vivienda con imparcialidad, así como durante cada fase de las investigaciones, el intento de resolver las quejas a través de los esfuerzos conciliatorios.

FHA fue establecido en 1934 y actualmente asegura más de 6.5 millones de préstamos unifamiliares. El 80 por ciento de los préstamos asegurados por FHA en 2010, fueron destinados a los compradores de vivienda por primera vez y más del 30 por ciento de los préstamos de compra fueron destinados a los compradores minoritarios.

La Oficina de Equidad de Vivienda e Igualdad de Oportunidades (FHEO) de HUD y sus socios en el Programa de Ayuda de Equidad de Vivienda investigan más de 10,000 quejas de discriminación de vivienda al año. Las personas que creen haber sido víctimas de discriminación de vivienda deben comunicarse con HUD al (800) 669-9777 (voz), (800) 927-9275 (TTY).

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La misión de Departamento de Vivienda y Desarrollo Urbano de EE. UU. es crear comunidades fuertes, sostenibles e inclusivas y vivienda de calidad asequible para todos. HUD trabaja para fortalecer el mercado de vivienda a fin de impulsar la economía y proteger a los consumidores; satisfacer las necesidades de vivienda de alquiler asequible de calidad: utilizar la vivienda como una plataforma para mejorar la calidad de vida; construir comunidades inclusivas y sostenibles libres de discriminación; y transformar el modo en que HUD hace negocios. Información adicional sobre HUD y sus programas está disponible en www.hud.gov y espanol.hud.gov.

Wednesday, February 02, 2011

5 Tips You Must Do Before You Sell Your Home

5 Tips You Must Do Before You Sell Your Home

New FHA Tool Will Help Condo Associations

CAR subsidiary launches FHA approval tool

By Inman News
Inman News™

February 02, 2011

Real Estate Business Services Inc., a subsidiary of the California Association of REALTORS®, has teamed with FHA Pros LLC to launch a product that checks for FHA loan eligibility and offers assistance in the FHA loan approval process.

The Clarus FHA Approval product includes two services:

Approval Services helps condominium homeowners associations meet regulations from the U.S. Department of Housing and Urban Development (HUD) that require an entire condo development be approved before an FHA loan may be granted for a single unit.
Eligibility Check is a database that allows real estate professionals to determine FHA loan eligibility through a property address search.

"FHA loans now account for up to half of all new mortgages. Given the importance of this loan program, every condominium association should seek to be approved for FHA loans," said Robert Bailey, chairman of REBS, in a statement.

Contact Inman News: http://www.inman.com/

Fed punts on real estate loan disclosures

Consumer protection bureau tasked to devise single, standardized form
By Inman News
Inman News™

February 02, 2011

The Federal Reserve is backing down from a slew of proposed changes to mortgage loan disclosures, saying authority in that arena will soon be transferred to the new Consumer Financial Protection Bureau.

The Fed's proposed changes to mortgage loan disclosures were over a year in the making, prompted by criticism that homebuyers often didn't understand the true cost and terms of mortgages taken out during the boom.

The situation was complicated by the fact that borrowers get two sets of federal mortgage disclosures: one addressing Truth in Lending Act (TILA) requirements, and the other satisfying requirements of the Real Estate Settlement Procedures Act, or RESPA.

The Federal Reserve has had rulemaking authority for TILA loan disclosures under Regulation Z, while the Department of Housing and Urban Development (HUD) oversees RESPA disclosures.

Lenders, the real estate industry, and consumer groups have complained that having two sets of mortgage loan disclosures is confusing.

In an attempt to address that problem, the Dodd-Frank Wall Street Reform and Consumer Protection Act transfers oversight of both TILA and RESPA to the Consumer Financial Protection Bureau in July.

The bill mandates that the CFPB issue a proposal for a single federal mortgage disclosure form that satisfies both TILA and RESPA requirements within 18 months of assuming oversight responsibility.

By the time Dodd-Frank was passed, HUD had rolled out new RESPA loan disclosure forms in the face of industry opposition, but the Fed was still in the process of overhauling TILA disclosures.

A combined TILA-RESPA disclosure rule "could well be proposed by the (bureau) before any new disclosure requirements issued by the Board could be fully implemented," the Fed said in announcing that it will not finalize three rulemaking proceedings it's initiated since August 2009.

Although there are specific provisions of the Fed's proposals that would not be affected by the bureau's development of joint TILA-RESPA disclosures, adopting them "in a piecemeal fashion would be of limited benefit, and the issuance of multiple rules with different implementation periods would create compliance difficulties," the Fed said in an announcement.

In announcing plans to update TILA loan disclosures in the summer of 2009, Fed Chairman Ben Bernanke said the one-page TILA disclosure currently in use "is not adequate to convey the features and risks of today's complex products."

The Fed promised improved disclosures would:

Capture most fees and settlement costs paid by consumers in the disclosed annual percentage rate.
Require lenders to show how the consumer's APR compares to the average rate offered to borrowers with excellent credit.
Require lenders to provide final TILA disclosures at least three business days before loan closing.
Require lenders to show consumers how much their monthly payments might increase for adjustable-rate mortgage (ARM) loans.
Another issue the Fed was attempting to tackle was the use of "yield spread premiums" -- rebates paid by lenders when mortgage brokers place borrowers in loans with higher interest rates than they might otherwise have qualified for.

Critics said the rebates were often pocketed by mortgage brokers without a borrower's knowledge, creating a financial incentive for loan originators to place borrowers in more costly loans.

The Fed proposed a ban on yield-spread premiums that was to take effect April 1 -- a move adamantly opposed by the National Association of Mortgage Brokers.

HUD, for its part, has maintained that yield-spread premiums can benefit borrowers who would otherwise have trouble paying their closing costs, as long as the rebates are not pocketed by mortgage brokers.

Instead of banning yield-spread premiums, the standardized loan disclosure forms HUD began requiring lenders to use last year require that the rebates be credited against a borrower's closing costs.

Inman News columnist Jack Guttentag has characterized the dual-disclosure system as "a disgrace" because critical information is often buried or absent.

But Guttentag -- also known as "The Mortgage Professor" -- has also questioned whether the solution put forward in Dodd-Frank will solve the problem.

Dodd-Frank appears to have more mandated disclosures than TILA, some of which are "nonsensical and will prejudice the ability of (the CFPB) to do its job," Guttentag wrote in a column on the topic.

Contact Inman News: http://www.inman.com/

BIENVENIDOS AL ÁREA DE ORANDO, AQUÍ SIEMPRE ESTARÁS DIVIRTIÉNDOTE. El centro de la Florida compuesto por cuatros condados, Lake,...