Vol 3, Issue 4

she CENTER(FOLD)

TONI MOSS Founder and CEO of

AmeriCatalyst

& EuroCatalyst PAGE 26

Women-Owned

Businesses

WOMEN LEGISLATORS SEEK

TO INCREASE ACCESS TO

Overcome the

FEDERAL CONTRACTS

Competition

PAGE 12

PAGE 16

COUPLES COPING WITH CANCER & THE POWER

TO HELP WOMEN PAGE 42

WOMEN IN HOUSING

FINANCIAL

VOL. 3 / ISSUE 4

FITNESS ROAD SHOW PAGE 22

/NAWRB

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16

TONI MOSS

sheCENTER(FOLD)

26

Features

12 WOMEN LEGISLATORS

SEEK TO INCREASE ACCESS TO FEDERAL CONTRACTS

By Ann Sullivan

22 WOMEN IN HOUSING

16 RESOURCES

TO HELP WOMEN-OWNED SMALL BUSINESSES OVERCOME THE COMPETITION

By Lourdes Martin-Rosa

20 CREATING A SPECIAL NICHE FOR WOMEN IN HOUSING

Table of

FINANCIAL FITNESS ROAD SHOW

24 CLOSING TABLE TRENDS:

32 EMERGING MORTGAGE

THE "ABILITY TO REPAY RULE"

By Renee Marie Smith, Esq.

TRENDS OF 2014 Mortgage volume drops, paperless options, and the decline of negative equity.

26 SHE CENTERFOLD:

TONI MOSS, founder and CEO of AmeriCatalyst and EuroCatalyst, talks with NAWRB about the future of the U.S. housing finance system and globalization.

CONT

24

20

36

Departments

34 THE 29TH CALIFORNIA

WOMEN'S CONFERENCE A review of the lively and empowering 29th California Women's Conference held in Long Beach, CA.

36

8 INFOGRAPHIC

SMALL HOUSE MOVEMENT A new housing movement is sweeping the nation in a 400 square foot package.

42 A NEW PROGRAM FOR

48 SWAN:

The latest nationwide trends among different demographics, housing sectors, and women in business.

10

- SPEAK - WRITE - ATTEND - NETWORK Out of their offices and APP MAPP into the field, where Take the stress out of your NAWRB members can hectic schedule with the best be seen and heard. apps designed to simplify and organize your life.

COUPLES COPING WITH CANCER By Betsy Stewart An innovative program that provides support to couples dealing with the challenges and hardships of cancer.

11 DEAR NAWRB

Fellow readers give their insights on new initiatives showcased in the U.S. SBA agenda.

ENTS

Vol 3. Issue 4: Trending Now

nawrb STAFF & CONTRIBUTORS

PUBLISHER/CEO Desirée Patno Desirée.Patno@NAWRB.com

Get your free digital subscription

MARKETING DIRECTOR/EDITOR-IN-CHIEF Desirée Patno Desirée.Patno@NAWRB.com

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EDITORIAL ASSISTANT Lindsay Cabreros lindsay.cabreros@NAWRB.com

CY POLICY STATEME OF THE NT OMWIs

REyQUES T Polic COMMEN FOR ssist T tions to A N Prescrip E M O W URS PRENE ENTRE

SENIOR GRAPHIC DESIGNER Kendall Roderick Kendall.Roderick@NAWRB.com

five things small bus inesses SHOULD WATCH FOR IN 2014 Women Ent repeneurs: THE NA TIONAL WOMEN’S COUNCIL BUSINESS RELEAS ES ITS ANNU AL REPORT

in Diversity G OUSIN THE H T MARKE VOL. 3 /

ISSUE 1

s tting Tool SBA: Pu ands of in the H N WOME URS PRENE ENTRE

ISSUE 2 VOL. 3 /

AZINE

N MAG

|

N Magazine

| 1

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CONTRIBUTORS Ann Sullivan Lourdes Martin-Rosa Renee Marie Smith, Esq. Toni Moss Betsy Stewart NAWRB Magazine is a monthly magazine featuring unique content for women in the housing economy.

Exclusive interviews with industry professionals, business development tools, book reviews, feature stories and more. NAWRB Magazine welcomes comments from all readers. All materials submitted to NAWRB Magazine are subject to editing.

The articles, content, and other information in this publication are for information purposes only. Articles, content, and other information in this publication without named authors are contributed by the publication’s staff, but do not necessarily reflect the views or opinions of NAWRB. NAWRB assumes no liability or responsibility for any inaccurate, delayed or incomplete information, nor for any actions taken in reliance thereon.

www.NAWRB.com (949) 559-9800 | Media@NAWRB.com 34 Executive Park, Suite 260, Irvine, CA 92614

sign up on

NAWRB.com

NAWRB Magazine is your gateway to the issues impacting women in the housing economy. /NAWRB

/NAWRB

First, we would like to announce our exciting name change from N Magazine to NAWRB Magazine. Expect to see a new magazine with even more eye-catching and imaginative graphics while maintaining our hard-hitting articles that tackle the issues and triumphs women face in the housing economy every day. We believe our switch to NAWRB Magazine creates a stronger recognition and greater impact on our promotion and advocacy of women in the housing economy.

Our theme for this issue of NAWRB Magazine—Trending Now—features the latest trends in the housing economy.

As we move forward, we need to ensure continued growth and utilization of women business owners rather than being a temporary trend. To further solidify the movement, NAWRB launched our Women in Housing Financial Fitness Road Show in Irvine, California this month. We partnered with the U.S. SBA - Santa Ana District Office to bring powerhouse sponsors and speakers under one roof providing awareness of the business opportunities and programs specifically tailored to women in housing. As the first in a series, we will be traveling to major cities nationwide to bring awareness, opportunities and access to women.

We had the opportunity to hear from successful real estate attorney and author Renee Marie Smith, Esq. on the emerging closing table trends, most notably the Ability to Repay Rule (ATR). Ann Sullivan—Government Relations of Women Impacting Public Policy (WIPP)—provided the latest developments of government contracting among women business owners.

Toni Moss, the inspiring and successful CEO of AmeriCatalyst, met with

NAWRB discussing the future of our housing industry along with her upcoming AmeriCatalyst Conference in September. "AmeriCatalyst's purpose is to not only improve the product, processes, and practices of the industry but also look at how the markets are evolving in the context of globalization," stated Moss.

As we traverse our hectic schedules, it can be incredibly easy to overlook our personal health. City of Hope’s monthly health-based articles provide fascinating innovations in medical technology and trending health-related topics. It is crucial to monitor our health, for a healthy lifestyle will provide us the tools we need to carry on with our busy schedules, growing businesses, and families.

From improvements in the housing economy to steps that must be taken, our contributors cover many facets to provide readers with a well-rounded and exciting issue.

As always, our goal is to provide women with the latest topics and developments that will not only affect their lives but the way they conduct business. Trending Now reveals the crucial issues that women should monitor as time progresses. With raised awareness, women can use their determination and success to influence the trends seen in this very issue of NAWRB Magazine.

Desirée Patno Publisher/CEO

Desirée.Patno@NAWRB.com NAWRB MAGAZINE |

7

infoGRAPHIC

Nationwide Trends

Women

The amount of women-owned businesses has grown over the years. In 2007, 7.8 million businesses were owned by women. The 2013 results revealed a considerable growth with 9.1 million women-owned businesses.

Even more, women-owned businesses have experienced a 59% increase since 1997.

The number of firms owned by women of color is increasing dramatically. In the past 17 years, firms owned by women of color have increased by 14%.

What sectors have the highest concentration of women-owned firms? The category of health care and social assistance is at the top with 53%. Meanwhile, education services had an astounding growth of 113% within the past 11 years.

The General Public Percentage of people that want to live in a mediumsized or big city: 40% Gen Y 23% Gen X 14% Baby Boomers 25% Silent Generation Trending communities among Milliennials include neighborhoods that provide a short walk to work/school (82%), walkability (76%), and close proximity to shopping and entertainment (71%). Driving was also a lesser priority for Millennials as 57% preferred public transportation in their neighborhoods.

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Around 38% of Millennials expecting to move think they will choose an apartment, duplex, townhouse, or rowhouse; no houses.

* References located in index

infoGRAPHIC

Housing In the first quarter of 2014, 43% of all residential property sales were in all-cash compared to 19% in the first quarter of 2013.

In the United States, 36% of those under the age of 35 own homes. This is the lowest percentage in over three decades.

The current average sales price of a home in 2014 is $319,200 which increased by $44,700 in the past decade.

The amount of foreclosures in the United States is steadily decreasing. In January 2014, there were 48,000 foreclosures, down from 59,000 in January 2013.

The annual wage for the 50th percentile of real estate sales agents was $39,800 in 2013. This is a significant drop compared to the 2010 median annual wage of $51,930. The median sales price for existing homes in 2010 was $173,100. In 2013, the sales price of existing homes rose to $197,100.

NAWRB MAGAZINE |

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appMAPP Evernote Evernote is an award-winning app that helps you stay organized and boost productivity at home and in the office.

You can easily record any early morning ideas or reminders with the handy voice recorder. As your day progresses, create custom todo lists where you can check off items, add photos, and organize your schedule. The app also allows you to scan business cards and important documents so that your essentials remain at your fingertips. All of these features are great for on-the-go planning but Evernote takes it a step further by allowing you to sync all of your notes to your devices and computers for complete accessibility wherever you go. FREE.

Take the stress out of your hectic schedule. We found the best apps designed to simplify and organize your life so you can conquer the day, from morning to night.

Mynd Balancing multiple meetings and appointments each day can be hard work; add unexpected traffic and it’s easy to stress out. Mynd is a smart calendar that lets you manage all of your meetings while analyzing traffic so you’ll never be late again. Simply input your meetings with relevant information such as location and time. The app will remind you when your meeting is approaching, if you’re running late, and the best route to take based on traffic conditions. It also syncs to LinkedIn, Evernote, and your address book so you can notify people if you’re late, attach notes to meetings, and familiarize yourself with meeting attendees. FREE.

Focus Lock Your work day is coming to an end and you’re starting to lose focus. Your phone is within arm’s reach, tempting you to take a peek at Facebook, Twitter, and other distractions.

Focus Lock helps you resist the temptation and stay productive by locking you out of distracting apps, whether it’s that new game you downloaded or social media. You’ll still be able to receive calls and emails, but without added distractions. FREE.

Cozi Family Organizer Organization and ease shouldn’t stop once you leave the office. Bring effortless scheduling home with the Cozi Family Organizer app. Applauded by countless magazines and newspapers, Cozi Family Organizer lets you manage your family’s hectic life. From kids’ sports practices to birthdays, this app creates a family calendar of appointments and events in a neat color-coded display. A weekly agenda can be created and sent to all family members in addition to reminders. Your family can view the calendar on any mobile device and on Cozi.com so that everyone stays upto-date at all times. FREE.

How to Cook Everything After a long day at work, cooking dinner may be the last thing on your mind. However, How to Cook Everything simplifies the process dramatically. The app features categories such as “most popular” and “quick dinners” so you can whip up something tasty in no time with included shopping lists. With over 2,000 recipes from Mark Bittman’s bestselling cookbook of the same name, you’ll always have the perfect recipe. Novice cooks will also appreciate the how-to illustrations, technique tutorials, and convenient built-in timers at each recipe step. $2.99.

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dearNAWRB

Dear NAWRB… Maria Contreras-Sweet—24th U.S. Small Business Administrator—spoke about entrepreneurial equality at

the Center for American Progress earlier this month. She outlined multiple initiatives and programs that the U.S. SBA would seek to implement in the near future. The SBA agenda focuses on positively changing the way socially and economically disadvantaged communities conduct business in addition to applying technological advancements to relevant business processes. NAWRB asked readers for their insights on key topics expressed on the SBA agenda.

One of the goals of the SBA is to increase access to the three C’s—capital, consultation, and contracting. As a women business owner, have you found difficulty in trying to obtain the necessary capital to expand your business?

Response: I haven't put much energy into trying to find capital to expand. I think that is a good thing because after attending events like the ones NAWRB hosts, I don't think my efforts will be that difficult. I am making contacts and building relationships that will help in my efforts.

Tina Estrada, The Omni Group The SBA has multiple areas of focus. One area is the way SBA lending partners conduct credit analyses. For the past decade, the SBA has worked hard to create and sharpen their latest tool—the Total Credit Score. The Total Credit Score will become a necessary tool for small loans—$350,000 or less—and improves the chances of an entrepreneur receiving a loan by combining personal and business credit scores. EBITDA and cash flow analysis will also be eliminated. Do you think the SBA’s approach of combining credit scores is a good first step to improving the loan process? Why? Response: I do commercial real estate so the SBA has a great impact. If we can get SBA financing, that’d be huge in the marketplace. Anything to improve the loan process would be great.

Brandy Nelson, Red Top Realty

Furthermore, with the evolution of technology, it is time to go digital. Banks and businesses will experience a simplified process that eliminates time-consuming faxing and allows electronic signatures along with the ability to upload and create documents for SBA 7A loans. Faxing and uploading aside, do you see other aspects of business processes that can benefit from technological improvements?

Response: Obviously going digital would cut time, energy, and you can become more mobile. Right now, we already have paperless and electronic signatures and it’s great. If they can do that with small businesses, that’d be less stress, less everything.

Rose Pinkus, Sunset House Group The SBA strives to educate and bring awareness to entrepreneurs nationwide. In the agenda, Contreras-Sweet revealed Scale Up America, a groundbreaking education program located in 14 underserved communities nationwide. The program brings the SBA’s unbeatable resources to those in need and sees that investment capital is distributed in a fair manner.

Locations will be announced in the upcoming months. With that being said, are there specific communities you would like to see Scale Up America visit?

Response: There’s a little pocket of San Juan Capistrano that I think would be a good fit for Scale Up America. This pocket contains the areas of the Mission, Camino Capistrano, and La Zanja. These particular areas are underserved and would benefit greatly from the program.

Bessie Blazejewski, Coldwell Banker Previews International

To learn more about Maria Contreras-Sweet’s initiatives to create a more comprehensive SBA, visit www.sba.gov.

Women Legislators

Seek to Increase Access

to Federal Contracts

By Ann Sullivan WIPP Government Relations

A

dvocates for the women’s contracting community are alive and well in Washington. An issue that has limited the success of a program designed to help women access the federal market has taken center stage in both the House and the Senate.

Moving forward will require the united voice of the women’s business community and the understanding of where this program came from and where it needs to go.

Women business owners have thrived since the government began tracking business ownership in 1972. The growth and success of women-owned small businesses (WOSBs) has often relied on approaching and jumping into new markets where they often faced barriers. But, as successful business owners will tell you, you have to go where the business is.

One such area is the federal procurement market, where opportunities now total more than $500 billion annually. As businesses look to increase revenue, selling goods and services to the federal government – the world’s largest consumer of goods and services – can be lucrative.

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But historically, women business owners had only peripheral access to these opportunities, and even then, often only through subcontracting. In an attempt to change this, Congress established a government-wide goal of awarding 5% of federal contracts to WOSBs in 1994. They hoped this effort would galvanize agencies into working with women-owned companies.

But that effort simmered and government contracting with women-owned businesses grew only marginally. For this reason, Congress established a program to help the contracting community and assist the women’s business community with finding opportunities. Unfortunately, it took more than a decade to implement the program.

In 2011, 11 years after Congress acted, the Women-Owned Small Business Federal Contract Program (“WOSB Procurement Program”) was established to increase access to federal contracts by limiting competition to women-owned firms only. Yet the program came with significant restrictions—restrictions other small

Government business contracting programs did not face. Most notably, awards through the program were capped at $4 million for goods and services contracts, and $6.5 million for manufacturing contracts—making the process of awarding contracts to women-owned business cumbersome for contracting officers.

Due to advocacy on behalf of women business owners and the support of two strong women in Congress, Senators Mary Landrieu (D-LA) and Olympia Snowe (R-ME), Congress passed legislation removing those arbitrary award caps in 2013.

While that was an important step, the limitations did not end there. The program is not open to all categories of industries represented by women; about one-third are included in the WOSB program. This limitation is due to a study from 2007 that looked at under-representation of women-owned businesses in federal contracting by individual industries.

sole source authority, an important tool contracting officers use to make contract awards to small businesses.

Every other small business federal contracting program has sole source authority. All we are asking is that we be treated equally, that’s all.

In fact, more than 15% of all contracts designated for small businesses were awarded through sole source contracts. The inability of the WOSB procurement program to utilize this contracting tool represents a substantial loss to women-owned companies. Just for a point of reference, that 15% equals roughly $7.8 billion in annual contract awards. Failure to have access to this tool puts the program and the women it seeks to assist at a disadvantage.

The SBA looked too narrowly at the study, identifying only a few industries where the government was deficient in buying from women-owned companies, giving us the restriction we face today.

While it is widely accepted that programs such as the WOSB procurement program need underpinnings that show disparity, the 2007 data is old and outdated. In 2013, Congress called upon the SBA to complete a new study by 2018.

In the three years since the implementation of the program, the goal of contracting 5% of federal dollars to women-owned businesses still has not been met. Failure to meet this congressional-set goal translates into roughly $4 billion in missed opportunities for WOSBs annually. Despite SBA’s efforts to educate women business owners and federal acquisition officers in federal agencies on the WOSB program, a mere 1/100th of one percent of federal award dollars has gone to women-owned businesses through the program. Clearly, barriers still exist.

Seeking An Equal Standing

Heralded as a tool to level the “procurement playing field,” the Program was hardly designed with equity in mind. The WOSB Program remains the only major small business contracting program that does not have

"the Program was hardly designed with equity in mind."

Rather than wallow in the inadequacy of 1/100th of a percent, advocates such as Women Impacting Public Policy (WIPP) have been busy trying to change it.

Earlier this year, the first step came in the form of an amendment sponsored by Representative Jackie Speier (D-CA). A Member of the House Armed Services Committee, Rep. Speier shepherded the amendment to the National Defense Authorization Act – a bill that is known in Washington as “a must pass” piece of legislation. The amendment gives the WOSB procurement program sole source authority.

It also accelerates the disparity study on which the WOSB program is based by directing the SBA to conduct a new study within two years. Why wait until NAWRB MAGAZINE |

13

Government

"Successful business owners will tell you, you have to go where the business is."

2018 to renew the list of industries underrepresented by women in federal contracting when they were already out of date in 2011?

Now it is up to the Senate to act. Senator Jeanne Shaheen (D-NH) has already taken a leadership role, alongside Senators Cantwell and Gillibrand, by introducing the Women’s Small Business Procurement Parity Act (S. 2481). The bill mirrors the amendment that was successful in the House. Women business advocates are busy urging other Senators to join the effort.

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This is the power of advocacy in action—and a good example of how government can help the women’s business community. Making this change will bring better opportunities to women entrepreneurs seeking to compete for federal dollars. Increasing access to such opportunities is critical to continue the vibrant contribution of women business owners to the economy.

HYATT REGENCY LONG BEACH 200 South Pine Avenue, Long Beach, CA 90802, USA

Meet your personal Financial Fitness mentor

Accelerating Women in the Housing Economy

Specialized hybrid of Women in Housing and Women in Government

Awareness, Opportunities, and Access

NAWRBevents.com | 949.559.9800 | Conference@NAWRB.com

Business Resources

Resources to help

women-owned small businesses

Overcome the Competition

By Lourdes Martin-Rosa

D

espite budget instability from sequestration and the government shutdown, women business owners have had noticeable success in government contracting in recent years. According to the National Women’s Business Council, more than $100 million in contracts has been awarded through the WOSB (Women-Owned Small Business) Federal Contract set-aside program. Women contractors received another win in early 2013 when President Obama signed into law the National Defense Authorization Act, which removed the $4 and $6.5 million caps on contract awards in the WOSB Federal Contracting program.

As a woman business owner and federal contactor, I’m thrilled to see the WOSB program inch closer to its 5 percent goal and am hopeful that we will surpass it within the next few years. And as opportunities continue to grow, I expect to see more women business owners entering the federal marketplace. Now, more than ever, WOSBs should take advantage of resources that can help them gain a competitive edge and strengthen their networks within the government contracting arena.

Last year, the U.S. Small Business Administration (SBA) teamed up with Women Impacting Public Policy (WIPP) and American Express OPEN to launch ChallengeHER – a joint-initiative designed to boost government contracting opportunities for women-owned small businesses. By leveraging the resources of the SBA, WIPP and OPEN, the free national program works to empower the success of the WOSB program and ensure that women contractors get their fair share of federal contracts.

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Business Resources

ChallengeHER was extremely successful in its inaugural year, hosting events in eight cities across the United States and connecting more than 1,200 women-owned small businesses to free resources, curriculum, guidance, and contracting opportunities. Now in its second year, the program has a full calendar of events including

that the federal government portal for purchases over $25,000—Fed Biz Opps (www.fbo.gov)—has experienced an increase in contracting posts, Sources Sought notices (agencies try to obtain market research using Sought and Request for Information notices) and Indefinite Delivery/Indefinite Quantities (IDIQs) type contracts.

ChallengeHER connected more than 1,200 women-owned small businesses to free resources , curriculum , guidance , and contracting opportunities .

Seattle (April 22), New York (May 21), San Francisco ( June 16), Milwaukee ( June 26), Chicago (August 7) and multiple events in Washington D.C. with government agencies like the U.S. Department of Agriculture (USDA) and the Environmental Protection Agency (EPA). You can visit www.wipp.org/?ChallengeHER for more information about upcoming events and training.

With the recent passing of the $1.1 trillion federal budget, agencies are finally back on solid ground with their funding through 2015. In fact, I’ve noticed

A recent report by American Express OPEN found women business owners spent an average of $112,112 in 2012 in pursuing federal contracts – up 29 percent from 2010 but still well below the investments made by their male counterparts. If you haven’t already, register your women-owned small business with SAM (System for Award Management) at www.sam.gov and visit www.sba.gov/wosb to determine if your firm qualifies for the WOSB self-certification program, among others. Let’s keep this momentum alive.

For more procurement resources, visit: www.openforum.com/ governmentcontracting

Lourdes Martin-Rosa is the American Express OPEN Advisor on Government Contracting and has 20 years of experience in the federal procurement arena. She helps small businesses get contract ready and achieve contract success. For more information, visit: www.openforum.com/governmentcontracts.

NAWRB MAGAZINE |

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New NAWRB Memberships and Certified Women-Owned Businesses

shePAGE

18

TINA ESTRADA

CHRISTINE HANSEN

TERRY JOHNSEN

The Omni Group tina@theomnigroup.biz www.theomnigroup.biz 714.501.9995

South Florida Homes Sales Christine@floridahomesbychristine.com www.floridahomesbychristine.com 954.609.4242

MTC Financial Tjohnsen@trusteecorps.com 949.252.8300

CASSANDRA ADAMS

CINDI BLACKWOOD

Adams & Associates Sandy@realtyworldadam.com www.realtyworldadams.com 859.314.7878

Blackwood Team Realty Cindiblackwood@gmail.com www.homesforsaleinarkansas.net 501.920.8111

TERESA RYAN

LYNN BURLEY

Recertification

Recertification

Ryan Hill Realty tryan@ryanhillrealty.com www.ryanhillrealty.com 630-718-0424 954.609.4242

Burley Properties Lynn@BurleyProperties.com www.BurleyProperties.com 321-427-6788

YURI BLANCO

SUSAN HASTINGS

RE/MAX Executives yuri@IdahoHomeShop.com www.ExecutivesIdaho.com 208.938.9099

Hastings Brokerage, Ltd. susan@huckle.com www.huckle.com 702.240.5448

SHELLY WEST-CHENOWETH Atlas Field Services, Inc. swchenoweth@atlasfieldservices.com www.atlasfieldservices.com 916.988.7100

| NAWRB MAGAZINE

JANET FARLEY Covenant Realty of NC Jfarley10@aol.com www.covenantrealtync.com 919.570.0583

sheSHOWCASE

Darla Beggs

Anne Jablonski

Anne Jablonski joined Cushman & Wakefield as Executive Managing Director of Global Business Development Strategies for its Valuation and Advisory Group.

Cushman & Wakefield is one of the largest privately-held commercial real estate firms with over $5.5 billion in assets under management and specializes in services for all property types such as property management, tax services, leasing, and sales on a global scale.

Darla Beggs will serve as the Chair of the 2014-2015 Board of Directors for the National Association of Women Business Owners (NAWBO). Beggs is also the CEO and President of Abba Staffing and Consulting.

Showcasing Women

'On the Move'

Jenny Atchley

Jenny Atchley was named President of RealtyBid.com. Atchley has worked at RealtyBid.com since its inception 15 years ago and has become a vital component to the company's success.

Women in HOUSING

Creating a Special Niche

for women in the housing economy

A

s we continue to evolve and reinvent new ideas and strategies in addressing new issues, we must be a leader, mentor and collaboratively work together to strengthen our industry and professional work environment.

As many women in the housing economy work tirelessly living commission to commission with a significant pay decrease, it is imperative we expand the awareness and access for opportunities to retain quality, talented women professionals.

As we look at the bare bone basics of real estate, there are two major components: 1) Transferring title of a property or asset 2) Managing a property or asset

With numerous variations within these components, the overall essence is having a contract to perform work. Our goal as a real estate agent, lender, escrow officer, contractor and associated services is to build relationships to capture first time clients with repeat and referral business as we contribute and engage with our communities to grow our business portfolio with extended outreach.

As the market has taken a large swing in volume of properties being sold to being managed, we have to look at our business model and ask, "Are we passionate on being in the

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industry?" Margaret Kelly, CEO of RE/MAX, recently stated, "The low inventory... sure, it's an issue and we need to look at it, but we're still talking about 4.9-5 million sales.

With that many properties available for sale, agents should be asking themselves, 'What's really going on in the market?’" As there are many variations within real estate, a lender, title and escrow officer can still produce income with a refinance of a home, while most income for agents is derived from the transfer of a property besides property management.

With the amount of properties transferring ownership and the incredible corresponding amount of business being contracted, we are still seeing professionals leaving the business in droves through retirement, technology issues, and not being able to deal with the new demands of increased work load per contract and compliance issues.

How do we create more opportunities and experiences to retain talented women professionals in the housing economy?

Growing your existing business and expanding your business portfolio outside "the box" is essential to staying competitive and financially sound. Within the industry to help with education and awareness, NAWRB created the Women In Housing Financial Fitness Road Show. By taking the elements of two specialized markets--women in housing and women in government-- individual to corporate and govern-

Women in HOUSING ment contracting, we have developed our Fast Track niche to bring the awareness, opportunities and access to offset living commission to commission. Learn about access to business growth with loans from as little as $25,000 from the SBA to hire that much-needed assistant or expand your marketing, or $200 million Diversified Securities from Morgan Stanley to service those high net worth individuals. Imagine receiving a grass cutting contract, not normal property management, to cut grass at a couple of commercial buildings for $88,000 a year, and then growing that same contract to $1.9 million a year within two years! There are so many ways of working within the industry or with a property. By working directly for a financial institution, homeowner, hedge fund, non-profit, developer, property manager, government agency or attorney, you can take your existing skill set and explore a hybrid. Do you want to become the preferred title company/contractor for your local city on all their transactions? How about being the local real estate expert on land development? Think of how many individuals and companies come in contact with your local city each year! Your bread and butter needs to become a producing bakery that can be managed and nurtured with the right amount of special ingredients, You! With new relationships, you create additional opportunities to grow and with newfound enthusiasm, you will increase a way of giving back or being involved within your community. We all have to find within ourselves what we truly have as a unique gift or are passionate about. NAWRB would love to hear Your Special Niche. Please submit an article to media@ nawrb.com to share your growth to help expand NAWRB's awareness as we travel throughout the nation.

NAWRB MAGAZINE |

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Women in HOUSING

SUCCESSFUL LAUNCH OF THE WOMEN IN HOUSING FINANCIAL FITNESS ROAD SHOW The National Association of Women

in Real Estate Businesses (NAWRB) in partnership with the U.S. Small Business Administration (SBA) Santa Ana District Office presented the Women in Housing Financial Fitness Road Show this month at the Lutron Experience Center in Irvine, CA.

outreach, women can take advantage of our Fast Track niche. By connecting women with federal and local programs, set-asides, funding options and contracting opportunities available to grow their businesses both vertically and horizontally, women in housing will have the awareness to sustainable growth and live beyond commission to commission.

Vivian Afriyie, a Financial Advisor from Morgan Stanley, talks about financing options.

Hosted by Morgan Stanley, Vivian Afriyie—a Morgan Stanley Financial Advisor—opened the event in dramatic fashion showcasing asset based loans vs. traditional income and credit based loans. Recently, Morgan Stanley closed a 150 million dollar commercial real estate loan in six weeks. “Bringing the shock treatment with our takeaways from $25,000 SBA business loans to the $200 million dollar Morgan Stanley Diversified Securities-based loans for clients, really ignited the awareness in the room,” stated Desirée Patno, CEO and Founder of NAWRB.

NAWRB’s Inaugural Women in Housing Financial Fitness Road Show is a first-of-its-kind, breakthrough program for women in all industries within the housing economy. More than just tools to navigate women’s existing business through the changing terrain, NAWRB’s Women in Housing Financial Fitness Road Show reached a whole new level.

Utilizing a specialized hybrid of women in housing and women in government

Testimonials: “Thank you for having the vision and for putting it all together! It was a great event!” -U.S. SBA-Santa Ana District

Robin Zaharis from Harmony Escrow stands by her sponsor table.

Office, Economic Development Specialist Sylvia Gutierrez.

“Loved the NAWRB Road Show! The caliber of speakers that were there to share with us how to grow our business was very impressive. I loved the way Desirée has a way to break down the information and make it real life and tangible. Great job!” -The Omni Group, Tina Marie Estrada The resources and opportunities are out there. If you want to be part of the Road Show or have it travel to a city near you, email us at Roadshow@NAWRB.com.

Make a difference and join the movement bringing awareness, opportunities, and access to women in housing.

NAWRB MAGAZINE |

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the national title insurance underwriters for their local agents’ failure to identify fraud.

Whether this failure was due to compliancy or complicit behavior is no longer relevant in the new lending era of Dodd-Frank. Higher standards make each participant vigilant on compliance and identifying fraud with more checks and balances from the loan processor to the closing table. It is now the agent’s duty to determine if the ATR rule and the supporting paperwork are correct.

Every aspect of the loan is now scrutinized, even the title insurance underwriter, closing office, and closing attorney.

Closing

Table

Trends: With more aggressive lending compliance standards and regulations in 2014, lenders have been scrambling to implement internal systems in order to comply. Every real estate professional should understand the central issue that will impact their clients who obtain loans at the closing table: the “Ability to Repay” Rule (ATR).

The momentum behind ATR is to reduce systemic fraud, reduce borrower litigation in order to correct faulty lender underwriting guidelines, and protect local markets from predatory lending or price fixing. Earlier this year, JPMorgan and Bank of America initiated lawsuits against

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Furthermore, the Ability to Repay (ATR) rule is ambiguous. The rule itself doesn’t have a specific set of percentages or dollar guidelines. It requires the lender to make a reasonable, good faith determination—before and when a loan is consummated—that the consumer has the assets needed to repay the loan. Specifically, buyers should be prepared with paperwork to support their loan request and these documents must have 3rd party verification. To assist loan transactions, the Consumer Financial Protection Bureau (CFPB), which was formed under Dodd-Frank in 2010, states that creditors generally must consider eight underwriting factors and generally use reasonably reliable third party records to verify the information when implementing the ATR Rule. These factors are: • • • •

Current or reasonably expected income or assets Current employment status The monthly payment on the covered transaction The monthly payment on any simultaneous loan

Regulatory • • • •

The monthly payment for mortgage related obligations Current debt obligations, alimony, and child support The monthly debt to income ratio or residual income Credit history

I think the trend of passing compliance issues onto the local closing table will continue.

You can never substitute passion with hard work but you can use hard work to succeed with your passion.

Lenders will be presumed to have complied with ATR if they issue a Qualified Mortgage. Real estate professionals should be on the lookout for these indicators to verify their clients are receiving a Qualified Mortgage when at the closing table:

ha ssi You rd on c w wi an or th ne k h to ar ver su d w su cc b ee ork stit u d b w ut te ith y yo ou ur ca pa n ss io n.

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One such new “checks” at the closing table are 3rd party verification services. For the first time in my 18 years as a real estate attorney, my office was required to go through a 3rd party vetting process prior to the lender sending over a title request on a loan. It was an interesting process performed by The Title Attorney Support Team/ Q&A Department of a servicer. The lender’s name was withheld and the request only identified the property, not the borrower. Disclaimers were pronounced advising that this was not a request to prepare a title package for closing but a verification of my company’s authenticity and HUD compliance practices. My underwriter was contacted to confirm my license and I was required to produce references. This entire process took approximately one week.

Visit us at: www.smithtitleservices.com and www.mygurupublishing.com

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No excess upfront points and fees (currently used is 3% of mortgage value) No toxic loan features (such as interest only, negative amortization, or loan term longer than 30 years) Cap on debit to income ratio (current standard is 43% except for government affordability standards) No balloon payments

us

•

•

•

•

Renee Marie Smith, Esq., Author of the My Guru book Series

Moving forward, expect to see more 3rd party vendors being used to verify the borrower’s information, property details and closing transaction procedures.

Lenders now view the closing agents as the front lines to verify if a transaction is legitimate under the ATR and with a wave of 2014 lawsuits against title insurance underwriters for their agents’ failures, NAWRB MAGAZINE |

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sheCENTER(FOLD)

MARGARET KELLY

CEO of RE/MAX

Founder and CEO of AmeriCatalyst and EuroCatalyst

Toni Moss

The inspiring CEO of AmeriCatalyst and EuroCatalyst shares her insights on the future of the mortgage industry, state of the global economy, and what she’s doing to promote awareness of present and future economic conditions.

NAWRB: Your early career started in venture capital with a focus on tech start-ups before moving to the mortgage industry. What sparked your interest in the mortgage industry to make the switch?

Toni Moss: It was more my corporate intelligence background that led to my interest in the mortgage industry, although my experience with tech start-ups did help. In the early 90’s, I was working for one of the world’s largest multinationals, which was losing money in their financial services division. Ultimately, we found that it was due to a software glitch in their servicing platform. That piqued my interest. At the same time, I met a brilliant underwriter who had an idea to create a cutting-edge due diligence firm with bleeding-edge technology. I initially made an investment in the new company, and ended up immersed in it myself. We specialized in evaluating and acquiring non-performing loan portfolios primarily for Wall Street firms. We were also chosen as one of the subcontractors on the HUD Single Family Loan Sales, which were the largest series of loan sales in history. The more I saw in terms of the dysfunction of servicers, the more enthralled I became about making a difference. Everyone viewed the servicers as the “back office” of the originators, while I saw them as the front office for investors and borrowers. I had the benefit of being an outsider, which always makes you see things differently.

NAWRB: Our focal point within the women’s trade association is to work with the Office of Minority and Women Inclusion, National Women’s Business Council, other women’s trade associations, and government entities to bring awareness, opportunities, and access all under one roof to women in the housing economy. With

that being said, is there anything in your genre that can relate back to our mission core?

Toni Moss: I previously founded a group of my own called Women in International Housing Finance. Our purpose is to place women in positions of power. It’s been ongoing for the past 12 years and mostly active in Europe. I think the only way to really change things is at the top. What we're focused on is getting women on the board of directors of the banks, the large real estate firms and all of the significant finance companies.

NAWRB: What do you feel is missing in the industry?

Toni Moss: I think what helps most is having access to information, the present level of information that's provided is sorely lacking. In particular, we need to understand the big picture because a lot of women don’t understand the layout of the playing field. They only see what’s in front of them and don’t necessarily see what’s around them. I'm very much a big picture person.

NAWRB: I love what you're doing and the fact that you've taken the bull by the horns for over a decade now.

You have your conferences and an established voice. I also saw that you created a nonprofit. What inspired you to create the nonprofit, nonpartisan AmeriCatalyst Idea Lab? Toni Moss: I think that women, in particular, really want to make a meaningful difference in their own lives and the lives of others that does not involve making a profit. I tend to live in a world of ideas. Although I (try to) get paid for those ideas through our main company AmeriCatalyst (and our European firm EuroCatalyst), NAWRB MAGAZINE |

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sheCENTER(FOLD) most often I blurt them out in a fit of inspiration and give them away for free. Some ideas, however, are more difficult to execute and require a lot of resources behind them. I created the Idea Lab as a vehicle to aggregate, evaluate, and generate new ideas to help stabilize the industry, as well as help create a more sustainable future. One of those ideas, for example, is placing social workers in servicers so that they can bring a more holistic and empathic approach to working with distressed homeowners than traditional collections and foreclosure departments. Right now, we’re working with the University of Texas School of Social Work to create curriculum to include counseling around stressful financial issues, and a pilot program to place these social workers into two large servicing operations. When you consider the tremendous stress that families go through in buying a home, losing that home, or incurring insurmountable debt in general, it seems to me that this is really something that a clinical social worker can help with more than any other professional.

NAWRB: That sounds like an excellent program to assist people in housing. With housing being the second largest contributor to the U.S. GDP behind consumerism, do we as an industry have the capacity to salvage the housing economy without another fallout?

Toni Moss: “Another fallout” implies that we are past something that is now over. I don’t think that we are anywhere near a recovery, nor do I think that a “recovery” is possible. What is happening right now is what we are left with – an economy of diminished returns, and a more diminished way of life with less wealth moving forward. People don’t realize the massive, unprecedented wealth transfer that has occurred in this crisis, from the poor and middle class to those with extreme, and mostly inherited, wealth. The stock market is in no way indicative of a recovery because you already have to have a lot of money in it to reap profits from its rise.

We should be lobbying to increase the minimum wage so that consumers at the low end of the market can at least have a fighting chance at buying a starter home.

It is consumers, after all, who create jobs through their consumption – not corporations. If we took the tens – and in some cases, hundreds – of millions of dollars in executive pay and spread that across the lower workforce in those companies, more people would be able to buy better homes. Study after study has shown that

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there is no correlation between executive pay and actual performance. We should be investing in education by providing low cost student loans so that those kids can graduate, find a job, and buy a home. And we should be fighting like hell to close the corporate loopholes on taxes so that we, the taxpayers, do not have to continue to subsidize the corporations. There’s the real welfare.

Think about it. Even when you talk about facts, you can’t avoid the political implications, which is unfortunate.

But we sure have lost our moral compass on fairness in this country.

"'Another fallout' implies that we are past something that is now over. I don’t think that we are anywhere near a recovery, nor do I think that a 'recovery' is possible."

NAWRB: Moving to a more international level, the global housing market tends to look to the U.S. housing market for what not to do. What can we learn, if anything, from the international housing market’s policies, successes, failures, and motivations?

Toni Moss: During the beginning of my tenure in Europe – let’s say from 1997 to 2005 – most European countries looked to the U.S. as the model of effectiveness and efficiency that they should strive to emulate. I spoke at so many conferences during those years and kept saying, “Stop using the U.S. as the benchmark!” The reason that I said that is because although housing finance varies in form but not function from country to country, it is inextricably wed to the socio-economic and political structure of each individual country. If you commoditize the housing stock and transfer the risk into a finite global investor base, which securitization inevitably does, you run the risk of disrupting that national market structure and manufacturing global systemic risk.

Sound familiar? I get pummeled for saying this and I’ll

sheCENTER(FOLD) be the first to admit that I’m not a financial engineer or rocket scientist but history is on my side. Now of course, no one wants to emulate the U.S. housing market, with the exception of Spain. Currently, the government there is looking at the evolution of Single-Family rental as a means of mitigating their overwhelming foreclosure problem. And importantly, Ginnie Mae still remains one of the best models in the world for insuring risk.

There is far too much to write about what we can learn from other markets but I can name a couple. In Germany, the savings banks have a savings product whereby when a child is born, the parents can open a tax-free savings account so that the child can ultimately qualify for a new loan when they come of age. There are some caveats, but this is the basic premise. We could certainly use something like that here in the U.S. In the Netherlands, they have “portable” loans that provide homeowners with more mobility to move to another part of the country without taking out an entirely new loan.

NAWRB: At EuroCatalyst's 2007 Burning Down the House Conference in Madrid, the focus shifted to the powerful impact that shadow banking could have in each sector. Solutions and steps to recovery were discussed.

Moving forward, which sectors were affected the most from shadow banking and what is their current state?

Toni Moss: Our focus has always been on globalization, and shadow banks are a natural outcome of its forces. They exist across a wide spectrum of structures, investments and activities but for the sake of simplicity, they are international, unregulated financial institutions.

They are fluid and borderless, and their assets at that time were mostly securitized loans that were high on risk and low in value. It was only in 2007 that the term "shadow banking," was created and at that time, mostly whispered among the top people at the Federal Reserve, central banks, the IMF, and large institutional investors.

That year, we were actually trying to bring widespread attention to the role that the shadow banks had in creating the crisis, and foreshadow (pun intended) how much larger they would become as the consequences of the crisis played out in the future. Here’s what happened: By 2007, banks were heavily invested in those risky securities because current regulation excluded those investments from the banks’ liabilities and allowed them to hold very little capital to protect against potential losses. When

the securities imploded, the banks had to bail them out which, in turn, caused the banks to need a bailout from the taxpayers.

With regard to the non-regulated mortgage institutions, the greatest irony of them all is that the banks have been fortified with taxpayer money and are therefore heavily regulated; they are exiting the mortgage lending space as fast as they can. While much of this is due to heavy regulation, the primary reason is due to a lack of profit.

For the banks, the costs of regulatory compliance, litigation, and headline risk just aren’t worth the small profit left in lending and servicing today. Now, the shadow banks are stepping in to fill the void. This is an “unintended consequence” of heavy bank regulation. And this is why you see the phenomenal growth of non-regulated mortgage institutions like Ocwen, PennyMac, and Nationstar. Although these institutions are well-managed, their sheer size and growth have absolutely enormous implications for the industry in terms of their long-term liquidity and the counter-party risk that these types of institutions pose. This is the biggest story in the industry today, which is why it’s again one of the main topics of our event this year.

"Our purpose is to not only improve the product, processes, and practices of the industry but also look at how the markets are evolving in the context of globalization."

NAWRB: Speaking of your event, it is upcoming in September, Tightrope and Renting, the Future. Why do you produce the event and what do you hope to accomplish?

Toni Moss: The first event was created in 2002 and was held in Madrid. The reason that I created the event is because I felt very strongly that mortgage markets would implode because I saw the same patterns occurNAWRB MAGAZINE |

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sheCENTER(FOLD) ring in 23 different countries. Having had an outside perspective of the U.S. housing market at that time, I could see that it was going to be a global crisis with the potential to change the world as we knew it. I felt that institutions like the World Economic Forum, the Treasury, and the European Commission were better placed to produce an event like this. Because I was one of the only people who knew how to compare and contrast so many different markets, I created an entire program for them to produce. I visited every one of those institutions with this urgency of motivating them to do something, to talk about this. They thought I was out of my mind. When they showed no interest, I decided that I had a strong enough network to do it myself. I didn't take the approach of a professional conference producer. It was more, "Let's get the smartest people in the room together, have a much higher caliber of dialogue, and move much more swiftly through this information.”

I wanted to make it really quirky and unique so, I gave it a soundtrack.

look at how the markets are evolving in the context of globalization. Our purpose is more important than profit. We wanted to make a difference in the direction of the industry as our core business is market positioning and strategy. So, we produced this event to reposition the entire industry. When you look at our program, the way that I editorialize and phrase things, it changes the way you look at the industry; it changes the way you structure things and changes the way you act. We have definitely increased the caliber of dialogue and brought a much more intellectual approach to this industry in a way that challenges everybody. I think we have had a huge impact on how processes and practices are done in the industry both in Europe and ultimately, the United States.

What's interesting is that this is an event that appeals to the highest levels of the industry to educate them and this is an audience that feels like they don’t need an education. The best feedback we get every year is from all these top investors, originators, or CEO's saying, “My God, I actually learned things that I didn't know.”

I made it electronically interactive where the audience could communicate with the stage. Since it was invitation-only, we had some very senior people in the audience that wanted to be part of the dialogue. That was the initial reason for doing it. I felt that conferences produced by professional conference producers were really just based on profit. As for trade organizations, events build community and raise money but have censorship to a large extent. They don't really confront problematic issues. Our purpose is to not only improve the product, processes, and practices of the industry but also

NAWRB: I applaud you 100% for doing this because on a smaller scale, that is truly what we are trying to mirror for women in the housing economy.

What’s so incredible is that now that you’ve been doing this for over a decade, you have identified the issues so we can look at the front end of this crisis rather than sitting here and asking, “How are we going to resolve the symptoms?” You’re taking action so we can cure the cause and see the direction of where this is going.

"The best feedback we get every year is from all these top investors, originators, or CEO's saying, 'My God, I actually learned things that I didn't know.'"

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MortgageTRENDS

Emerging Mortgage Trends of 2014

"A new paperless era filled with electronic signatures and the ability to upload and generate documents."

I

t’s no secret that trends within the mortgage and lending industries can fluctuate significantly from quarter to quarter. Countless factors such as the economy, new legislation, and changing demographics can impact these shifts.

With the ever-changing financial landscape, we have pinpointed the most current and prevalent mortgage and lending trends of 2014.

Mortgage Volume Drops

Mortgage loan volumes have experienced a consistent drop across all lenders throughout 2014. In the first quarter, lenders made a total loan volume of $226 billion, an all-time low amount that hasn’t been achieved since 1997. One of the largest lenders, Wells Fargo, took the hardest hit with a 67% drop in originated residential mortgages.

One explanation for the steady decline in mortgage volume is due to the Federal Reserve’s mission to taper stimulus cash. As a result of the tapering, interest rates rose by a percentage point. The rise in interest rates has caused more people to become weary of refinancing which is correlated to the drop in mortgage volumes.

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Rise in All-Cash Purchases One variable has contributed significantly to the drop in the nation’s total loan volume: all-cash purchases. With rising interest rates, all-cash purchases have become a major contender among transactions in the housing economy.

Interest rates are hardly the only reason though. Older generations are downsizing their current homes in favor of smaller homes. The switch to smaller homes has made all-cash purchases more feasible for the baby boomer generation.

Foreign investors buying property in the United States have also resulted in a large percentage of all-cash purchases. Buyers from China alone have spent $22 billion on properties in the United States. Foreign buyers tend to be members of the upper middle class and upper class of their respective countries.

Waning economies and volatile political regimes have fueled many international buyers to make all-cash housing purchases in the more stable environment of the United States.

In the first quarter of 2014, all-cash purchases accounted for a record high of 43% of transactions. This trend in conjunction with tighter lending stan-

dards has predictably led to less lending.

As far as domestic purchases are concerned, the all-cash trend could prove to be a temporary fixture as some lenders have joined a movement to lower lending standards. Lenders anticipate that looser lending standards will create a shift from skyrocketing all-cash purchases to more loans.

"Older generations are downsizing their current homes in favor of smaller homes. The switch to smaller homes has made all-cash purchases more feasible for the baby boomer generation."

Paperless Options

Processes within the mortgage industry require a great deal of paperwork, as many people know. It is not unusual for cumbersome paperwork to prolong the process of closing a mortgage and processing miscellaneous loans. Although

MortgageTRENDS some measures have been taken to reduce waste, the U.S. Small Business Administration (SBA) and Fannie Mae are taking it a step further by implementing new programs and initiatives.

Maria Contreras-Sweet—24th Administrator of the SBA—recently announced an SBA agenda filled with new initiatives at the Center for American Progress in Washington, D.C. One such initiative includes the introduction of digital processes in favor of traditional yet time-consuming faxes and paperwork. The SBA will usher in a new era filled with electronic signatures and the ability to upload and generate documents. The switch is projected to save not only thousands of dollars but hours of time.

Fannie Mae has joined the digital trend and has commissioned a team to tackle common problems within the mortgage industry. The team identified a lack of electronic processes as the source of many issues within the industry. They found multiple solutions to amend the issue and say as much as $1 billion can be saved with electronic processes. The Consumer Financial Protection Bureau (CFPB) has also taken steps to evaluate what must be done to make an electronic switch. Although it could take years to apply the findings of both groups, it is clear that industries are finding the need to adapt to rapidly evolving technology.

The Decline of Negative Equity

Multiple reports have found that the percentage of total negative equity has decreased in the first quarter of 2014. CoreLogic reported 12.7% of mortgaged homes in the first quarter of 2014 as having negative equity which translates to almost 6.3 million homes nationwide. This statistic sharply contrasts to the 19.8% found in the first quarter of 2013 with 9.7 million homes ‘underwater.’

properties—experienced a 16% drop in the amount of residential properties with negative equity when compared to the first quarter of 2013. Negative equity is forecasted to further decline as the year progresses and home prices steadily increase.

More Elderly with Debt

Elderly Americans carry more mortgage debt throughout their retirement years. An overwhelming amount of senior citizens—those 65 and older—not only have increased mortgage debt but increased credit card debt. The latest statistics provided by the Consumer Financial Protection Bureau (CBPB) reveal that from 2001 to 2011, the amount of elderly homeowners with mortgage debt increased by 2.3 million.

Rising home values and the trend of people purchasing their first homes in the latter half of their lives all contribute to the increase in mortgage debt.

Experts stress that aging generations must account for a shift in expenses as they reach their retirement years. For example, medical expenses will become a larger factor in a retirees’ budget than compared to someone in pre-retirement years. Experts stress that with careful planning and well-thought spending plans, the growing trend could lessen in the future.

Purchases that contribute to credit card debt appear to be directly related to the relaxed lifestyle most people envision in their retirement years. The idea of retirement for many evokes thoughts of traveling, trying new hobbies, and enjoying leisure time in general. The top expenses among the senior citizen demographic include new automotives, recreational items such as technology gadgets and camping supplies, and miscellaneous purchases for pets.

"Studies prove that the mortgage industry can save as much as one billion dollars with electronic processes."

Nevada—the state with the highest incident of negative equity in residential NAWRB MAGAZINE |

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Conference REVIEW

The

29

th

California created her own successful company involving boutique sales and business development. Since then, she has written a book, spoken at TEDx, and has launched the Institute for Sales and Business Development in partnership with a private university.

T

he Color Guard by The Sunburst Youth Academy opened the 29th California Women’s Conference with an exciting show at the Long Beach Convention Center. Each year, the conference gathers talented performers, doctors, successful entrepreneurs, and many more to provide an unparalleled experience for attendees.

From entertainment, to financial seminars and health talks, the conference had a presentation to interest anyone.

In the past, the California Women’s Conference has hosted notable speakers such as Barbara Walters, First Lady Michelle Obama, his Holiness the Dalai Lama, and Condoleezza Rice. Some of this year’s powerful and inspiring speakers included Arianna Huffington, Rosie Perez, and Ursula Mentjes.

The conference—open to both men and women—lasted two full days from morning to night.

Michelle Patterson, President of the California Women’s Conference (CWC),

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welcomed attendees after the opening ceremony. Patterson’s theme for the conference was “Better Together” and made it clear that the next coming days would be filled with inspiration, thought-provoking presentations on pressing topics, and lighthearted fun via live concerts.

An extensive amount of exhibitors—106 total—displayed their booths at the convention center as well. The booths ranged from fashion jewelry vendors, teen magazines, universities, and women’s organizations.

"The conference had a unique aspect that attracted people of all ages."

Sales and Business Development Expert Ann Marie Houghtailing held multiple presentations throughout the conference regarding finances. Houghtailing

Houghtailing’s goal at the conference was to help both men and women achieve financial freedom through analyzing and changing personal behavior. She successfully blended humor with informative financial awareness practices to captivate attendees at the first financial presentation of the day, Disrupting and Dismantling the Five Beliefs that are Compromising your Financial Freedom.

The conference had a unique aspect that attracted people of all ages. Unlike other conferences, a section of each day was devoted to student programs that were produced by young people for young audiences. Topics of these student-themed presentations included

Conference REVIEW

"Houghtailing’s goal at the conference was to help both men and women achieve financial freedom through analyzing and changing personal behavior."

3 Things Every Young Woman Must Know, Flip Your Flaws, Follow Your Dreams, and various performances.

As the presentations came to a close each day, fun events took the stage. Monday night’s festivities started with a wine and cheese reception for V.I.P’s—an excellent way to network while sipping wine and sampling appetizing cheeses. Finally, a concert on the main stage brought people to their feet on both days with a lively party atmosphere. Performers included Grammy-nominated singer Mary Lambert, Nathan Osmond, Sarah Blaine, and Blessid Union of Souls.

As Tuesday night approached, Michelle Patterson and other presenters announced the winners of the online silent auction that was conducted earlier. Prizes varied from categories such as collectibles, technology gadgets, and services although many attendees had their eyes on the trip to the Riviera Maya in Mexico and Los Angeles Angels Experience. The auction and final

"As the presentations came to a close each day, fun events took the stage; a concert on the main stage brought people to their feet with a lively party atmosphere."

concert made for a memorable end to the two-day conference.

NAWRB CEO Desirée Patno attended the conference. The following is her personal experience.

chose not one ‘yes’ but a second ‘yes’ to reaffirm and truly anchor her affirmation. I found myself really feeling and absorbing the messages as each one brought new direction and observation."

"The conference was almost shut down two years ago due to budget cuts. However, private intervention allowed the conference to come to fruition and portray some incredible messages with profound statements from some powerful women. It was definitely well worth the experience and demonstrates that with purpose and direction, true value can be achieved.

Lisa Nichols had a powerful session revealing some of her personal experiences, highlighting differences, and helping the audience to personally improve their own journeys. She emphasized each of her points to the audience with a concluding affirmation of “Yes, Yes.” She NAWRB MAGAZINE |

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housingTREND

e s u o H l l a Sm Movement

"Tiny homes have gained popularity due to rapidly increasing rents!"

A

housing trend has gained prominence across the nation as a solution to looming issues such as foreclosures, skyrocketing rents in urban cities, and increased debt. The trend, known as the Small House Movement, refers to the switch from traditional homes to smaller, minimalist homes typically under 400 square feet. These homes are usually referred to as ‘tiny homes.’ Although the percentage of foreclosures has decreased since the recession, there were still 1.4 million foreclosures in the United States in 2013. The Small House Movement has allowed former homeowners to escape a future of hefty mortgage payments and regain their independence.

High-priced Rents Tiny homes have also gained popularity due to rapidly increasing rents.

A recent study regarding New York rental prices revealed that rent in Brooklyn and Manhattan is at a five-

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year peak with an average rental price at $4,008 in Manhattan and $3,209 in Brooklyn. Other dense, urban areas are experiencing similar growth. San Francisco, for example, is no stranger to escalating rents. Rent in San Francisco has now become three times more than the national average. A growing amount of people are finding it impossible to not only pay their rent but find affordable housing in cities nationwide.

Sleek and Functional Designs The Small House Movement combats the rent issue with micro-apartments in major cities although the movement is also comprised of tiny homes that have the option of attached wheels for mobility. The housing layout of both designs use innovative techniques to maximize space and include many of the same components of a traditional home such as a bedroom, bath-

room, kitchen, dining room, and den. Architects utilize everything imaginable for storage so that clutter is avoided and a spacious feel is added. Most notably, Hong Kong architect Gary Chang has transformed his 344 square foot apartment into a spacious home with luxurious amenities such as a wet bar, steam room, and library. His secret? Chang uses a combination of hidden sliding doors and compartments that transforms a simple area into nearly any type of room desired. Other design techniques include stairs that double as individual drawers for storage, vanity mirrors with storage space that pop out of floorboards, and tables that rise up and rest against the wall for impromptu shelves. Although many people that participate in small space living use it as their main form of housing, tiny homes have also become a trend among those who want spare offices, in-law quarters, or simply a spare room for guests.

housingTREND Tiny vs. Traditional

Micro-apartments aside, the average other passions. With a tiny home home on a trailer platform which makes it a vehicle. In addition to cost of a tiny home is approximately comes renewed freedom for many. permits, tiny homes may clash with $23,000 if built by the owner rather than a contractor. In contrast, the Nevertheless, the small space life- local zoning codes. It is important average price of a home at the end style is not meant for everyone. A to meet with local government to of 2013 was $321,200. However, tiny home or micro-apartment can figure out the specific laws for the the tiny home price can dramatically typically house a maximum of two chosen county. reduce if the consumer chooses to people. In addition, living in small build a tiny home out of reclaimed quarters can lose its appeal over In addition, property prices and materials. Although this may take time for some. So who does small zoning codes are prominent ismore time, many people are more space living attract? People who sues. This can be non-existent if than willing to wait. Some compa- live in tiny homes range from retir- one simply situates a tiny home on nies will also provide the ‘shells’ of ees who want to downsize, those existing property such as a backtiny homes in addition to holding looking for more affordable living, yard. However, many people forgo traditional housing in workshops on how to build a tiny home. Make your tiny home more spacious with techniques lieu of solely living in a tiny home. Some It is a win-win for such as hidden sliding doors and compartments. states have small, afboth parties since fordable plots of land consumers can cut available for rent with costs by building little restrictions. Oththeir own homes er states have costly and companies can land that negates the spare their time savings a tiny home and labor by transprovides. To solve ferring it onto the this problem, people consumer. However, have taken to living the price can easin remote areas, the ily skyrocket up to property of friends, or $80,000 if a coneven RV parks. tractor builds the home in addition to Novelty or any add-ons such Permanent Fixture? as upscale appliIn 2012, the growing ances and materials.

Small House Movement gained considIt is important to erable coverage when note that even a hefty start-up cost will reap future and people who want to reduce the mayor of New York City, Michael Bloomberg, announced a design benefits due to a lack of mortgage their debt and/or carbon footprint. competition regarding micro-apartand minimal maintenance. An elimments. At the time, New York City inated mortgage allows people to Concerns People who want to build a tiny reported 1.8 million households that focus on paying their debts and saving money which is the reason why home may run into multiple issues, contained one to two persons. Small many choose small space living in depending on their county. Regions households are the ideal profile for the first place. With all of their new- differ in the amount of square foot- micro-apartments. Much like tiny found savings, a growing number of age that requires a building permit. houses, micro-apartments use all those living in tiny homes have ei- Plumbing and electrical permits of the same sleek and modern dether quit their jobs for more fulfilling may also be required. Some build- sign techniques without the hassle occupations or switched from full- ers can bypass a building permit of having to locate a property. Mayor time to part-time in order to pursue requirement by constructing their Bloomberg’s competition—adAPT NAWRB MAGAZINE |

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housingTREND NYC—requested proposals for the design, operation, and construction of a micro-unit apartment building in New York City. The building would be constructed on a city-owned site.

Bloomberg created the competition in order to keep up with New York City’s growing housing demands.

Regarding the competition, the New York City Department of Housing Preservation and Development (HPD) Commissioner Matthew Wambua stated, “The remarkable number of high-quality responses to the adapt NYC RFP validates the

position that developing micro-unit living is both financially and physically feasible in the New York City landscape.”

Similarly, expensive housing markets nationwide have followed in New York’s footsteps with micro-apartment developments. Some of the housing markets with current micro-apartment developments include Cleveland, San Francisco, Los Angeles, and Boston.

ing presence for years, shows this trend may be more than just a niche.

Rather, these alternative living solutions have proven essential to evolving housing markets and population growth. From those who are craving simplified lifestyles, to those seeking affordable housing and beyond, the small house movement is clearly making a name for itself.

The fact that micro-apartments and tiny homes have had an unwaver-

"Housing markets nationwide have followed in New York’s footsteps with micro-apartment development plans."

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/NAWRB

what WOMEN WANT

Have you read or watched something lately that impacted you?

Share your thoughts with NAWRB Magazine’s editorial staff and readers. Send reviews to media@nawrb.com

BOOKS The Night Circus

By Erin Morgenstern Without any notice, a circus mysteriously appears overnight. Celia and Marco—two young magicians competing against each other—have been trained since childhood for the sole purpose of the competition.

As the game begins, the stakes rise and soon only one can be left standing. The Night Circus is a story of love, magic, and dangerous consequences that will leave you breathless. Erin Morgenstern’s writing is full of vivid imagery that will push your imagination into new possibilities. You’ll want to live inside the Night Circus and never leave.

Not Your Mother’s Book… on Family

By Dahlynn and Ken McKowen

Not your Mother’s Book… on Family features 60 hilarious first-person stories about real family moments. Contributors held nothing back as they touched on subjects that nearly any reader can relate to. From awkward events and sibling quarrels, to laugh out loud memories, these endearing stories will remind you of your own family experiences. You can’t choose your family but you can enjoy the crazy adventures that they bring into everyday life.

Wool

By Hugh Howey

They live in a 144 story deep silo that is dug into the Earth. The atmosphere outside is toxic and the land is ruined. Once a year a person is sent outside in a protective suit with industrial-grade wool to clean the grime off the sensors, the only problem is that the engineers have yet to find a way to bring the cleaners back in, alive. Wool is a mystery, a love story and a page-turner. This unique book follows multiple characters full of hope, loss and determination. Hugh Howey even brings the reader a new type of hero: Juliette.

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FILMS Maleficent

Starring Angelina Jolie, and Elle Fanning

Maleficent is a twist on the classic tale of Sleeping Beauty. Angelina Jolie plays Maleficent, a betrayed and vengeful fairy that curses the newborn daughter of the king into a deadly slumber, a slumber that can only occur once she pricks her finger on a spinning wheel on her 16th birthday. However, circumstances change as the daughter, Aurora, grows up and forms a strong bond with Maleficent. The bond adds conflict to escalating hostilities between the kingdoms.

Maleficent is an action-packed, tumultuous movie with an added twist that’ll surely shock moviegoers.

About Time

Starring Domhnall Gleeson, Rachel McAdams, and Bill Nighy

About Time with Rachel McAdams is a romantic comedy about time travel.

This edge-of-your-seat movie delivers an experience where you’ll laugh and cry. The night after an unsatisfactory New Year’s Eve party, Tim learns of a family secret that enables the men in his family to travel through time. As life continues, Tim realizes that life’s unsatisfactory moments are what lead to wonderful possibilities. This movie is uplifting and great for anyone who needs a reminder of how wonderful life can be.

X-Men: Days of Future and Past

Starring Hugh Jackman, James McAvoy, Michael Fassbender, Jennifer Lawrence, Halle Berry, and Peter Dinklage Mutants face extinction in the future due to Sentinels—robots that eradicate both mutants and the humans who protect them.

The only way to save the future of mutants is to journey back in time to change history. A powerhouse cast that features classic X-Men characters along with some new faces unite in a race against time to save their own future.

what WOMEN WANT

This just in:

Bright & bold is the hottest trend. Make a statement with a brilliant color combo.

Hint of Color :

Take a modest approach and add a subtle pop of fresh color by layering on a colorful, statement necklace.

Experiment with different textures on heels such as straps, cut-outs, or studs to create a bold yet sophisticated dimension.

BOLD.

. l it fu

u a e

Bright.

B

Loud and Proud:

Flaunt some major confidence in bright teal, vivid corals, and sunny yellows.

Let the colors speak for themselves with minimal accessories. A chunky bracelet or decorated clutch is all you need to complete the look.

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Reprinted with permission from City of Hope.

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Honey Roasted

Chickpeas Ingredients • 1 15-ounce can chickpeas (garbanzo beans) • 1 tablespoon creamy almond butter • 1 tablespoon honey • 1 tablespoon granulated sugar (optional) • Salt to taste

Directions Preheat oven to 375 F and line a large baking sheet with parchment paper. Set aside.

Empty can of chickpeas into a large strainer, drain well then rinse with cold water. You can optionally remove the outer skins by pinching the chickpeas between your fingers.

Spread chickpeas onto prepared baking sheet and use a paper towel to pat dry.

The drier your chickpeas, the crunchier they’ll be after roasting.

In a medium-sized bowl, mix almond butter, honey, and sugar until well combined. Add chickpeas and evenly coat them in the mixture.

Pour and spread chickpeas onto the baking sheet and sprinkle with salt.

Bake for 30 minutes or until chickpeas are crunchy and no longer soft in the middle. Use a spatula to stir chickpeas every 10 minutes to ensure even cooking.

Store in an airtight container at room temperature.

Recipe from: http://www.runningwithspoons.com/2014/04/01/ crunchy-honey-almond-roasted-chickpeas/

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Invest for REAL PROFIT

TODAY

ARE YOU

GETTING

30% ROIs?

Email: Chrimatainc@gmail.com

(714) 396-6622

Chrimata, Inc. is a real estate investment corporation with more than 12 years of experience in buying, selling, remodeling and managing single-family properties in Southern California. Its team of office and field resources specializes in niche areas to provide maximum acquisition opportunities and returns on investments.

Between work, commuting, and everyday life, it can be hard to squeeze in a well-rounded, quality workout. However, the addition of a kettlebell to your fitness routine can help you achieve both cardio and strength training all in one workout. A kettlebell is an iron ball with a handle that works all of your muscles due to its unique design. The American Council on Exercise has stated that just 60 seconds of kettlebell use can result in a whopping 20 calories burned due to the quick, interval-training format.

On average, active women usually choose 18-26 pound kettlebells although more athletic women may choose heavier kettlebells. Here is one simple and easy

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kettlebell exercise that you can integrate into your normal exercise routine that focuses on strengthening and toning your biceps, glutes, and legs.

Women-Owned Business Certification Four fundamental categories taking the mystery out of being certified.

1. Benefits of being certified:

• Access to contracting opportunities specifically for Women-Owned Businesses • Connection to professional community of women and women business owners • Highlights your technical expertise and experience while providing exposure to the Industry and validating your business • Certified businesses can tap into a multitude of public and private sector contracts and support client initiatives

2. Requirements for Certification:

• The business must be 51 percent or more women-owned, managed and operated • The women business owner must be a U.S. citizen or legal resident alien • Technical expertise in the Housing Economy

3. Process of Certification:

1. Application available online at NAWRB.com 2. Submit completed hard copy application with supporting documentation, sworn affidavit and application processing fee in a 3-ring binder 3. Review of application packet by certification staff 4. Follow up with applicant to obtain any additional materials necessary 5. Committee and Board Review 6. Certification can take up to 45 days with complete application

4. Why Certify with NAWRB:

NAWRB is the only third-party, industry-specific certifier of Women-Owned Business (WOB) and Minority Women-Owned Business (MWOB) specializing in the Housing Economy.

Advance your company to the next plateau.

Take advantage of the benefits of being certified as a Women-Owned Business.

To obtain your application: visit www.NAWRB.com | (949) 559-9800 | certification@NAWRB.com

NAWRB Women-Owned Business Certification Specializing in the Housing Economy

NAWRB

Speak

MWIRE, founded by NAWRB Board Chair Renee Marie Smith Esq., held an event featuring Kim Prenter, a lender relations specialist with the U.S. Small Business Administration. At the event, Prenter provided information to local real estate professionals about SBA programs that assist in market growth.

ď ť

ď ť NAWRB Member Heather Boren, an expert in retail leasing, spoke at the Commercial Investment Network Meeting in Van Nuys, CA. The meeting discussed various topics regarding retail leasing including the important of tenant mix, commissions, and rent pricing.

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ď ť

Write

NAWRB Member Zoritha Thompson of Goree & Thompson Real Estate was featured on: RealEstate Auctions.com for her new role as Northern California Regional Director. In this position, Zoritha will oversee the real estate auction company's teams in both the state of Oregon and Northern California.

NAWRB Board Chair Renee Marie Smith, Esq. writes anď ť informative blog for her company, Smith & Associates Title Services Inc. highlighting an array of topics such as business tips, networking, and real estate. This month, she reveals the business lessons she has learned while traveling the world.

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Attend

1

2

3

5

6

4

7

8

1. Miami Women in Real Estate (MWIRE) presented Kim Prenter from the U.S. SBA at an event held at Sumo Sushi Bar and Grill in Sunny Isles Beach, Florida. Prenter shared how business owners can benefit from SBA services and how agents can work with the SBA to help buyers fund commercial purchases. Attendees included Claudia Chiang Savine, Bruno Girard, and Susie Raduenz.

fund—Ellevate, formerly called 85 Broads—which holds stock from companies that promote and support women within its ranks.

2. NAWRB member Brandy Nelson attended the ICSC RECon Las Vegas event at the Las Vegas Convention Center. RECon is the largest convention for the shopping center industry. The three day event featured informative sessions regarding leasing, the latest products, networking, and opportunities available for businesses.

7. Winners, nominees, and other spotlighted women lined up for a photo-op at the 2014 NLBWA Latinas in Business Awards ceremony in Los Angeles, CA. Featured winners include (in no particular order): Inspirational Leader of the Year, Celia Chavez; Entrepreneur Leader of the Year, Patty Arvielo; Corporate Leader of the Year, Yolanda Padilla; Supporting Partner of the Year, Joseph F. Alderete; Man of the Year, Vernon Aguirre; Legacy Award, Jessica Maes; Business Award, Gail Lara; Trailblazer Award, Maria Elena Chavez; Community Advocate Award, Ana Cubas; Emerging Latina/Rising Star Award, Stephanie Castellanos.

3. A busy crowd of exhibitors and attendees is shown at the Las Vegas Convention Center for the ICSC RECon Las Vegas event. The event catered to the shopping center industry and included over 1,000 exhibitors.

4. The 3rd Annual S.H.E Summit took place in New York City and featured a host of motivated and accomplished women who shared their successes and challenges. From left, Claudia Chan and Marlo Thomas participated in a Fireside Chat.

5. NAWRB Board Chair Renee Marie Smith, Esq. met Sallie Krawcheck at the S.H.E. Summit in New York City. Krawcheck recently founded the only

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6. NAWRB CEO and Founder Desiree Patno attended the National Latina Business Women Association (NLBWA) Latinas in Business Awards in Los Angeles, CA. The 11th annual award ceremony honored Women in Excellence.

8. The National Association of Women Business Owners-Los Angeles, CSU-Dominguez Hills, California State Board of Equalization Office of Chairman Jerome Horton, and California Educational Solutions hosted the Connecting Women to Power Conference in Carson, CA. Workshops and informative seminars given by leaders from various agencies provided women entrepreneurs with the tools and opportunities needed to advance in business.

Network

upcomingEVENTS July 10th SBA Women and Veterans Federal Contracting Program (Atlanta GA) The U.S. SBA’s training event features will provide attendees with necessary information about eligibility requirements for both service disabled veteran-owned small businesses and women-owned small businesses. In addition, there will be an informative seminar on the many opportunities and resources available to women entrepreneurs.

July 10th Real Estate Connections ATL (Atlanta, GA) Join real estate professionals and related industries at this forum.

This is a great opportunity to network and exchange ideas regarding the housing industry. Drinks and complimentary valet parking will be provided to guests. Real Estate Connections has hosted countless networking events for real estate professionals with successful results.

July 14th-15th Oregon Women’s Conference (Portland, OR) The theme for the second annual Oregon Women’s Conference is Ordinary Women Doing Extraordinary Things. The conference offers women a well-rounded experience with lively entertainers, networking opportunities, and discussions regarding diverse subjects such as business negotiations, how to embrace adversity, and how to thrive.

July 16th NAWRB’s Women in Housing Financial Fitness Road Show (Irvine, CA) NAWRB is partnering with the U.S. SBA to host a premier event for women in the housing economy. The Road Show will follow the launch of NAWRB’s OC Chapter. Speakers include: Sylvia Gutierrez, U.S. SBA Economic Development Specialist; Desirée Patno, CEO of NAWRB and on EAB for WIPP; Linda Hoitt, SBDC Business Counselor; Karen Boyd, Score OC Mentor. The Road Show will connect women with funding options, set-asides, various business programs, and contract opportunities.

July 16th-18th Real Estate Connect (San Francisco, CA) This powerhouse conference features over a hundred successful and inspiring speakers in the housing economy. In addition to countless speakers, Real Estate Connect encourages powerful discussions about innovative real estate developments and technological advancements. Some topics to be discussed include consumer experiences, social business, collaborating with active buyers, and mobile productivity.

July 26th-27th 2014 Chicago REI Expo (Schaumburg, IL) This two day event networking event invites attendees to network and mingle with real estate professionals who work in the investment business industry. The Chicago REI Expo will provide informative sessions regarding real estate trends and developments in addition to providing awareness of available opportunities for professionals to grow their business.

July 29-August 1 2014 Superstar Retreat (Las Vegas, NV) Mike Ferry, founder of a top real estate coaching and training company, hosts the four-day Superstar Retreat in Las Vegas. Ferry will teach attendees a successful system to generate business, a system used by some of the most profitable agents. Filled with inspiration, the mission of Superstar Retreat is to help agents elevate their business to new heights.

July 31 Healthcare Real Estate Summit (Baltimore, MD) Bisnow, a company that writes e-pubs about local businesses, is hosting their 4th Annual Healthcare Real Estate Summit in Baltimore. The summit brings together top health officials and leaders in the commercial real estate community to discuss the latest topics within real estate and healthcare, and how they may affect each other. The summit includes a continental breakfast and great opportunities for networking.

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index ADVERTISERS C Chrimata Inc......................................45 City of Hope......................................56 D Desirée Patno Enterprises, Inc............39 F Five Star...............................................3 H Harmony Escrow inc..........................31 L Landy Insurance Agency....................53 N NAWRB................... 2, 6, 15, 23, 39, 54 NMP Magazine.................................54 P Prospect Mortgage.............................21

COMPANIES A Abba Staffing and Consulting...............................19 Adams and Associates........................18 American Express............................... 16 AmeriCatalyst.......................4, 7, 27, 28 Atlas Field Services, Inc.....................18 Auction.com.........................................3 AVN.................................................. 3 B Bank of America................................25 Bisnow................................................51 Blackwood Team Realty.....................18 Burley Properties................................. 18 Butler and Hosch.................................3 C California’s Women’s Conference.....................................34 CFPB..................................... 22, 25, 33 Chrimata............................................23 City of Hope................... 5, 7, 23, 42, 43 Covenant Realty of NC......................18 CoreLogic..........................................33 CoziFamily Organizer........................10 Cushman and Wakefield....................19 Cutco..................................................23 Cyprexx................................................3 E Ellevate...............................................50

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EuroCatalyst.............................. 4, 27,28 Evernote.............................................10 F Fannie Mae........................................33 Focus Lock.........................................10 G Goree & Thompson Real Estate.....................................49 H Harmony Escrow.......................... 23, 31 Hastings Brokerage, Ltd.....................18 How to cook everything.....................10 HUD............................................ 23, 27 Hudson and Marshall...........................3 J J.P. Morgan.........................................25 M M and M..............................................3 MCS.....................................................3 Morgan Stanley...................... 21, 22, 23 MTC Financial..................................18 MWIRE....................................... 48, 50 Mynd..................................................10 N NationStar..........................................29 NAWRB. ............1, 4, 5, 6, 7, 11, 27, 28, 29, 30, 33, 48, 49 NLBWA.............................................50 NWBC...............................................27 O Ocwen................................................29 P PennyMac...........................................29 Property Exchange...............................3 Provest..................................................3 R RE/MAX......................................20,21 RE/MAX Executives..........................18 Real Estate Connections....................51 RealtyBid.com....................................19 Red Top Realty...................................11 Ryan Hill Realty.................................18 S Safeguard Properties.............................3 SBA.................................... 5, 11, 13, 16, 21, 22, 23, 25, 33, 47, 49, 50

Smith Titles Services.................... 25, 49 South Florida Homes Sales................18 Sunburst Youth Academy...................34 Sunset House Group..........................11

T The Omni Group.......................... 11, 18 V VRM....................................................3 W WIPP............................ 7, 12, 13, 16, 51

PEOPLE

A Adams, Cassandra............................. 18 Afriyie, Vivian................................... 23 Aguirre, Vernon................................. 50 Alderete, Joseph F.............................. 50 Arvielo, Patty..................................... 50 Atchley, Jenny.................................... 19 B Beggs, Darla...................................... 19 Blackwood, Cindi.............................. 18 Blanco, Yuri....................................... 18 Blazejewski, Bessie............................. 11 Boren, Heather................................... 48 Boyd, Karen J.......................... 22, 23, 51 Burley, Lynn...................................... 18 C Castellanos, Stephanie....................... 50 Chan, Claudia.................................... 50 Chavez, Celia..................................... 50 Chavez, Maria Elena......................... 50 Contreras-Sweet, Maria...............11, 33 Cubas, Ana........................................ 50 D Dinklage, Peter.................................. 40 E Elkins, Liliane................................... 36 Estrada, Tina................................ 11,18 F Fanning, Elle..................................... 40 Farley, Janet....................................... 18 Fassbender, Michael.......................... 40 Ferry, Mike........................................ 51 G Girard, Bruno.................................... 50 Gleason, Dohmnall............................ 40

index Gutierrez, Sylvia..................... 22, 23, 51 H Hansen, Christine............................. 18 Hastings, Susan ................................ 18 Hernandez, Colleen........................... 47 Hill, Jackie......................................... 23 Hoitt, Linda........................... 22, 23, 51 Houghtailing, Ann Marie.................. 34 Howey, Hugh.................................... 40 Huffington, Arianna.......................... 34 J Jablonski, Anne.................................. 19 Jackman, Hugh.................................. 40 Jandial, Rahul M.D., Ph. D.,............. 43 Johnsen, Terry.................................... 18 Jolie, Angelina................................... 41 K Kelly, Margaret.................................. 20 Krawcheck, Sallie............................... 50 L Landrieu, Mary................................... 13 Lara, Gail........................................... 50 Lawrence, Jennifer............................ 40 Lee, P. Peter, M.D............................... 43 Loscalzo, Matthew......................42, 43

M Maes, Jessica...................................... 50 Martin-Rosa, Lourdes..................16, 17 McAdams, Rachel............................. 40 McAvoy, James................................... 40 Mckowen, Dahlynn........................... 40 Mckowen, Ken................................... 40 Mentjes, Ursula.................................. 34 Morgenstern, Erin............................. 40 Moss, Toni............... 7, 26, 27, 28, 29, 30 N Nelson, Brandy ................ 11, 46, 48, 50 Nichols, Lisa...................................... 34 O Obama, Michelle............................... 34 P Padilla, Yolanda................................. 50 Patno, Desirée................................ 7, 22, 23, 39, 50, 51 Patterson, Michelle............................ 34 Perez, Rosie....................................... 34 Pinkus, Rose...................................... 11 Prenter, Kim.................................48, 50 R Raduenz, Susie.................................. 50

Rice, Condoleezza............................. 34 Robson, Michelle King...................... 35 Ryan, Theresa..................................... 18 S Savine, Claudia Chiang..................... 50 Shaheen, Jeanne................................. 14 Smith, Renee Marie............................7, 23, 24, 25, 46, 48, 50 Snowe, Olympia................................ 13 Speier, Jackie...................................... 13 Stewart, Betsy.................................... 42 Sullivan, Ann............................ 7, 12, 13 T Thomas, Marlo.................................. 50 Thompson, Zoritha............................ 49 V Virgin, Grant..................................... 35 Virgin, JJ............................................ 35 Vito, Courtney M.D.....................42, 43 W Walters, Barbara................................. 34 Weitzel, Jeffrey M.D.......................... 37 West-Chenoweth, Shelly................... 18

INFOGRAPHIC SOURCES • • • • • • • •

http://www.marketwatch.com/story/43-of-2014-home-buyers-paid-all-cash-2014-05-08 http://www.census.gov/const/uspriceann.pdf http://www.corelogic.com/research/foreclosure-report/national-foreclosure-report-january-2014.pdf http://www.bls.gov/oes/current/oes419022.htm http://nawbo.org/section_103.cfm http://c401345.ssl.cf1.rackcdn.com/wp-content/uploads/2013/03/13ADV-WBI-E-StateOfWomenReport_FINAL.pdf http://www.pwc.com/en_US/us/asset-management/real-estate/assets/pwc-emerging-trends-in-real-estate-2014.pdf https://www.census.gov/construction/nrs/pdf/uspricemon.pdf

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National Mortgage Professional Magazine has become “The source for top originators—that connects the mortgage professional community under various media formats. While electronic media has become a vital part of our information platform, there is nothing like the feeling of holding a magazine in your hands. In the business world, knowledge and expertise rank high in the qualities of successful professionals. A subscription to our print edition allows you to share the informative articles in our publication with your colleagues and business partners - it is literally right there, at your fingertips. Our exceptional team of industry-seasoned monthly contributors, all with meaningful expertise in their related disciplines, provides the most up-todate news, insight and advice for today’s mortgage professional.

Stay on top of mortgage industry news and trends. The NMP Daily Email Newsletter is your source for breaking news, insights and tips. Gets free access to full articles including the hottest industry headlines, featured articles and other mission critical mortgage industry stories delivered to your inbox each day.

The NMP Mortgage News Ticker is a daily news feed that gives you a snapshot of the hottest mortgage news stories from around the web. Stay informed of the most recent headlines and blogs, all compiled into one convenient daily email.

CONCLUSION

“The future belongs to those who believe in the beauty of their dreams. “

– Eleanor Roosevelt