Vol 4, Issue 1

sheCenter(fold)

Maria Contreras-Sweet

U.S. SBA Administrator

Business Climate for Women: NAWRB’s Recap of the 2014 NWBC Annual Report

Page 32

Page 14

Tomorrow’s Housing Market Page 20

Contracting Opportunities Page 23

FHFA Decision: Path to affordable housing or another crash?

Page 26

The Unique Bank Offering Women-Owned Business Financing Page 46

VOL. 4 / ISSUE 1

Invest in Yourself with NAWRB NAWRB brings awareness,opportunities, and access to contracting and business resources in the housing economy. Discover your options for accelerating your business to grow your wealth.

Don’t let money wither away

949.559.9800 | NAWRB.com | Business@NAWRB.com

Vol 4. Issue 1: Legislation

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Features

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BUSINESS CLIMATE FOR WOMEN: NAWRB’S RECAP OF THE 2014 NWBC ANNUAL REPORT

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30 MEET YOUR NEW 2015

BOARD OF DIRECTORS

32 sheCENTER(FOLD):

41 RECAP OF INMAN’S

TOMORROW’S HOUSING MARKET

By John L. Torvi

MARIA CONTRERAS-SWEET The 24th Administrator of the U.S. Small Business Administration (SBA)

23 CONTRACTING OPPOR-

40 RECAP FOR IMN’S 3RD

TUNITIES: FIND THE RIGHT ONE FOR YOUR BUSINESS

By Mary Jo Juarez

REAL ESTATE CONNECT: THINK OUTSIDE OF THE BOX

By Renee Marie Smith, Esq.

ANNUAL SINGLE FAMILY RENTAL INVESTMENTS FORUM

26 FHFA DECISION: PATH TO AFFORDABLE HOUSING OR ANOTHER CRASH?

Table of

CONT

sheCENTER(FOLD)

Maria Contreras-Sweet

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32

46

Departments

42 NAWRB’S INAUGURAL CONFERENCE TESTIMONIALS

46 THE UNIQUE BANK

8 INFOGRAPHIC

A special look at historical moments throughout time.

OFFERING WOMEN-OWNED BUSINESS FINANCING

52 BRINGING NEW

58 SWAN:

50 WHAT WOMEN WANT: -REVIEWS - FASHION - HEALTH - COOKING

- SPEAK - WRITE - ATTEND - NETWORK Out of their offices and into the field, where NAWRB members can be seen and heard.

TREATMENTS TO THE CLINIC VIA CLINICAL TRIALS

By Elizabeth Stewart (City of Hope) Novel drug combination brings promising results (part 4).

ENTS Vol 4. Issue 1: Legislation

nawrb STAFF & CONTRIBUTORS

PUBLISHER/ EDITOR-IN-CHIEF Desirée Patno

Order your Digital or Print Subscription Today!

CONTENT WRITERS Lindsay Cabreros Tiffany Johnstone SENIOR GRAPHIC DESIGNER Kendall Roderick NAWRB CERTIFICATION Laurie Keys CONTRIBUTORS Carla A. Harris John L. Torvi Mary Jo Juarez Renee Marie Smith Jay Inouye Elizabeth Stewart

NAWRB Magazine is a bi-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

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NAWRB Magazine is your gateway to the hottest topics for women in the housing economy. /NAWRB

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As we review legislation supporting women-owned businesses, the housing economy, and people actively seeking change, we chose “Legislation” as the theme of this issue.

NAWRB is incredibly honored to feature the 24th Administrator of the U.S. Small Business Administration (SBA), Maria Contreras-Sweet, as our sheCENTER(FOLD). Look into the Administrator’s life as she reveals anecdotes about her early career, personal mentors, and 2015 forecast for the future of small businesses.

We explored a topic of heated debate so our readers can come to their own informed conclusions. Will Federal Housing Finance Agency (FHFA) Director Mel Watt’s decision to divert funds for affordable housing usher the United States into another crash?

With perspectives from proponents and opponents, we’ll let you decide.

Paralleling the unique theme of NAWRB’s 2014 Inaugural Conference, we’ve found one of the only banks that offers women-owned business financing. This unique financing program is helping women-owned businesses secure the capital they need to succeed.

Browse through the pages to learn which bank goes above and beyond the typical women-owned business resource centers that other banks offer.

The National Women’s Business Council (NWBC) works endlessly to advocate for women-owned businesses.

We pulled the most pressing excerpts and recent revelations from their 2014 Annual Report informing our readers what’s going on in the world of women-owned small businesses.

NAWRB continues with Part 4 of the Women’s Cancers series brought to us by City of Hope. Find out the interesting new drug combination that revolutionizes treatment for triple-negative breast cancer. The latest article in the series also presents alternative approaches to radiation and a new treatment for ovarian cancer.

the housing continuum and small business arena, we hope this issue of NAWRB Magazine finds you well and inspires you to keep advocating for women-owned businesses.

Desirée Patno Publisher/CEO

Desirée.Patno@NAWRB.com

With good health, you can maintain the energy to live a thriving life and professional career. The U.S. Small Business Administration offers a wealth of information and possibilities regarding contracting opportunities to propel your professional career. However, the process can be intimidating for some. A former contracting officer for the U.S. Navy breaks down the process and provides clever tips to help you along the way in this eye-opening piece.

As we provide our readers inside information on what’s happening across

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CONGRATULATIONS to new and renewed NAWRB Certified Women-Owned Businesses Specializing in the Housing Economy

IRMA TRIKAS

DARNELLA BARNES

Arista National Title ITrikas@aristant.com www.aristant.com 714.669.5008

Darnella Barnes Real Estate Services darnellabarnes@comcast.net www.dbarnesrealestate.com 925.207.8211

DEBI JENSEN

SHELLY WEST-CHENOWETH

Century 21 All Professional Debi.Jensen@Century21.com www.century21allprofessional.com 772.335.1121

Atlas Field Services, Inc. swchenoweth@atlasfieldservices.com www.atlasfieldservices.com 916.988.7100

These businesses have received the only third-party, industry-specific certifier of women-owned businesses in the housing economy, or minority women-owned businesses in the housing economy

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ZORITHA THOMPSON

RITA TAYENAKA

MELISSA JUSTICE

Goree & Thompson Real Estate, Inc. Zorithasellsreo@gmail.com www.goreeandthompson.com 916.897.8548

Coast to Canyon Real Estate Rita@rita4homes.com www.coasttocanyon.com 949.292.1393

Home Buyers Marketing II melissajusticebroker@gmail.com www.melissajustice.com 205.648.5195

DIANNE LANGSTON

DEBI JENSEN

BETSY MAGNUSON

Quality Real Estate Services, Inc. dianne@diannelangston.com www.diannelangston.com 707.428.1771

Century 21 All Professional Debi.Jensen@Century21.com www.century21allprofessional.com 772.335.1121

Landy Insurance Agency betsy@landy.com www.landy.com 781.292.5417

JENNIFER GANO

MELINDA HARRIS

CRISTINA ANDERSON

Land Home Financial Services Jennifer.gano@LHFS.com www.Lhfinancial.com/branch/5031 909.292.3737

EXIT Prestige Realty exitmelinda@gmail.com www.exitprestigerealty.com 714.769.3948

Kimball, Tirey & St. John, LLP Cristina.Anderson@KTS-LAW.com http://kts-law.com 619.234.1690

YESENIA LOPEZ

SHAWN SORENSEN

Parkfield Escrow, Inc. ylopez@parkfieldescrow.com www.parkfieldescrow.com 909.256.2561

Exit Alliance Realty shawn@exitalliancerealty.com www.exitalliancerealty.com 951.639.8777

sheSHOWCASE

Kimberly Hosken

Heather Sunser

Kimberly Hosken recently joined Partner Energy as Director of Training. The industry veteran has over 30 years of experience in construction management and sustainable development.

Heather Sunser was promoted from counsel to partner at Hiscock & Barclay.

Andrea Fazendin Andrea Fazendin, project consultant at Art Partners Group in St. Louis Park, has been appointed the organization’s Chapter 15 president.

Darby Fishkin Darby Fishkin has been promoted to CEO and is principal partner at CBRE Buffalo.

She is now the facilities manager at Comvest Counseling-a Western New York area commercial real estate brokerage firm.

Hellen Hanna Casey Hellen Hanna Casey has been named the most powerful woman in residential real estate

by Swanepoel Power 2000. Casey is the President of Howard Hanna Real Estate Services.

Showcasing Women

'On the Move' in the

Housing Economy

Suzanne Gregg Gina Lee Gina Lee has been promoted to senior vice president-property management at Gershman Commercial Real Estate. She will be in charge of preserving key relationships with tenants, contractors and vendors, and will be managing all day-to-day operations.

Susan Gregg was promoted to Vice President at Paragon Commercial Brokerage.

Rita Tayenaka Rita Tayenaka has been elected the 2015 President of the Orange County Association of Realtors (OCAR), CA.

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sheSHOWCASE

Margaret Tsay

Chris Boyle

Margaret Tsay has been appointed as liaison for City of San Gabriel.

Chris Boyle was promoted to Senior Vice President of Single-Family Sales & Relationship Management at Freddie Mac. Boyle’s team manages their relationship with 2,000 lenders. Freddie Mac finances one in four homes.

Kelly Marks Kelly Marks has been promoted to partner at Philips Lytle LLP. She was formerly an associate attorney at the company.

Lori Burger Lori Burger is the new president of The Institute of Real Estate Management (IREM).

Burger has managed an extensive range of residential and commercial property categories amongst other professional duties.

Mary Teresa Murphy Mary Teresa Murphey has been promoted to chief administrative officer at Sinatra and Company Real Estate. She will direct office operations, human resources, administrative oversight and support special projects.

Denise Juron-Borgese Denise Juron-Borgese was promoted to vice president of development and planning at Ciminelli Real Estate Corporation. She oversees daily development initiatives and supervises new development projects and opportunities.

Shana Stegner

Debbie Pearlman Debbie Pearlman was promoted to Senior Accounting Manager of Leland Management, a prominent home owner’s and condominium association management firm. Pearlman’s advancement was based on her know-how, attitude, capacity and readiness to take on new responsibilities.

Shana Stegner is now a partner and managing director of brokerage services at CBRE Buffalo, where she will be in charge of 15 sales representatives.

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NWBC

Business C limate

for

W omen

NAWRB’s Recap of the

2014 NWBC Annual Report The National Women’s Business Council (NWBC) in-

dependently advises the President, Congress and the U.S. Small Business Administration regarding economic matters that relate to women business owners. The Council seeks to improve conditions for women business owners and is the only independent voice for women entrepreneurs.

The NWBC has released its Annual Report for 2014.

NAWRB has compiled valuable excerpts that expand on the council’s milestones and outlook for the future.

NWBC Chair Carla A. Harris provides her personal message highlighting 2014.

Message from the Chair

that would expand the national conversation on women’s entrepreneurship and further an agenda to expand opportunities, resources, and access for women entrepreneurs.

Building on the Council’s four pillar platform — access to capital, access to markets, job creation and growth, and data collection— we worked to identify the challenges and intervention points and to develop implementable solutions and strategic opportunities that will ultimately improve the outcomes for women business owners as they seek to successfully grow and scale their businesses. Leveraging platform, experience, and convening power, the Council strategized to engage both the private and public sectors in providing tools, visibility and access to opportunities and resources.

At the end of 2013, the National Women’s Business Council committed to conduct earnest research to discern In 2014, we delivered on this commitment with research, the challenges and obstacles that impede the growth and engagement and communications efforts that continue origination of women-owned and women-led business- to inform policy, influence culture and strengthen the es. The Council sought to deploy that research in a way institutions that are necessary to support and sustain

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NWBC women’s entrepreneurship. We convened and engaged key stakeholders to address the challenges that women entrepreneurs face and worked together to change the outcomes, including exploring new and innovative sources of capital. We presented at conferences, published articles, engaged online audiences and used our profiles as Council Members to elevate the conversation around women and entrepreneurship. We strengthened our role as advisors to the U.S. Small Business Administration, Congress, and the White House and kept these customers informed and engaged with research and updates on developments in the field. We continue to stand in support of the passage of the Women’s Small Business Ownership Act of 2014, introduced by the Chair of the Senate Committee on Small Business and Entrepreneurship, Senator Maria Cantwell, and its specific components to improve access to lending, business training and federal contracting for women-owned businesses. We celebrated the growing economic and social power of women business owners and learned from their stories of resilience and success. We distributed the lessons learned to prospective entrepreneurs via innovative social media campaigns and other public awareness efforts.

search as a springboard for continued action and change as the landscape for women and entrepreneurship shifts.

Our hope is to build bridges between influencers, institutions, and entrepreneurs, leveraging the power of research and collaboration, so that we can impact the business climate for women. The numbers confirm that the full economic participation of women and their success in business is critical to the continued economic recovery and job growth in this country— and we are honored to be part of the movement to impact and better the business climate for women.

We are excited to share our 2014 annual report, Building Bridges: Leveraging Research and Relationships to Impact the Business Climate for Women. Here you will find an indepth look at our activities, research, key learnings, analysis and planned agenda for FY 2015.

-Carla A. Harris, Chair

Building on the words of Carla A. Harris, the NWBC is committed to its research regarding the state of women’s businesses and discovering better opportunities for women business owners. This includes the Council “Today, women business analyzing SBA loan data. The CounIn 2015, we are committed to buildcil staff worked with the SBA Office owners are the fastest ing on this important work and acting of Women’s Business Ownership on a growing segment of on the lessons learned with impactful project to analyze SBA loan data. The the economy.” research. The research agenda will purpose was to better understand womhighlight effective and new strategies that increase en’s participation in SBA lending programs so that the women’s access to capital and markets, including outreach efforts to increase women’s participation could analysis of social networks, undercapitalization, par- be better targeted by geography and program. Council ticipation in accelerators and incubators, as well as staff is continuing the partnership with the SBA Office corporate supplier diversity programs. We will build re- of Women’s Business Ownership to complete analysis gional networks and inform women entrepreneurs of based on more comprehensive data. This research will be the best opportunities and resources. We will engage released in 2015; the Council will then shift its focus to women business owners and the public to broaden the supporting the implementation of best practices based on conversation on women’s entrepreneurship and support the research conclusions. the creation of a culture that encourages women’s business ownership and growth.

The NWBC uses its research to discover what works and what doesn’t in terms of women-owned businesses.

Women entrepreneurs have significantly increased their As a follow-up to previous NWBC research that found economic impact in the past few decades. Today, women that undercapitalization is associated with business failbusiness owners are the fastest growing segment of the ure, and that women-owned and women-led firms display economy. The Council remains committed to using re- certain characteristics (such as lack of capital from exterNAWRB MAGAZINE |

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NWBC nal sources) that are associated with business failure, the Council commissioned research on undercapitalization as a contributing factor to business failure. The goal of this research is to gain a better understanding of the role that access to capital and undercapitalization have on business outcomes for women-owned firms in particular.

Women-owned small businesses (WOSB) are still not meeting the goal in securing five percent contracts across all federal agencies. Eligible parties to receive North American Industry Classification System (NAICS) contracts include businesses being at least 51 percent directly owned and unconditionally controlled by one or more women who are citizens (born or naturalized) in the United States. The business must be small, meaning in congruency with the SBA’s size standards for that industry.

• The contract action most frequently awarded to WOSBs from FY2007 to FY2012 was purchase orders; next most frequently awarded was delivery orders. An average delivery order is worth about eight times as much as the average purchase order. In other words, there is a great disparity between WOSBs and non WOSBs with regard to award amount, likely due to contract type awarded.

The SBA’s FY2013 Small Business Procurement Scorecard is used to analyze if federal agencies are meeting their objectives for their small business and socio-economic prime contracting and subcontracting goals. It is also used as a means to gather contracting data and report agency-specific progress. Some agencies were able to meet their agreed upon goals for 2013, while others were not.

Upon the release of the SBA’s FY2013 Small Business Here are the NWBC’s findings for contracting opporProcurement Scorecard, the Council congratulated the 20 tunities as well as awards to WOSBs: federal agencies meeting the 5.0% WOSB procurement • In 2012, WOSBs were awarded 182,791 contracts goal. The Council also called attention to the four agenworth $11.5 billion. cies that did not meet the goal: Department of Defense, Department of Energy, Department of Veterans Affairs, • Since 2000, WOSBs have received an increasing share and the National Aeronautics and Space Administration. of contracts and awards, not only within the 83 desA closer look at the data shows only a 0.32% increase in ignated industries but in other industries as well. But contract dollars awarded to women-owned small busialthough WOSBs are generally meeting the contract nesses, up from 4.00% in FY2012 to 4.32% in FY2013, threshold within the 83 underrepresented industries, but again falling short of the goal. they remain underrepresented in terms of awards share.

In order to bolster the statistics, the Council provided • Award dollars are concentrated among a small numadditional access to more resources pertaining to govber of WOSB vendors. For example, in 2012, 20.0% of ernment contracting. awards (amounting to $2.3 billion) went to 44 WOSB vendors. The other 80.0% of awards ($9.2 billion) went The Council promoted SBA online courses on government to 17,648 vendors. contracting, including: “The WOSB Advantage,” “Gov-

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NWBC ernment Contracting 101,” and “Women-Owned Small the Bureau’s release of implementation regulations, which Business Program: A Primer for Contracting Officers. they have signaled will happen upon completion of the Home Mortgage Disclosure Act implementation.

Business-to-business (B2B) sales refer to the business between two different companies, as opposed to busi- Other agencies and influential runners that the Council ness conducted between a business and a consumer. appealed to for data collection include the U.S. Census Normally, a supply chain works with multiple B2B Bureau and Secretary of Commerce Penny Pritzker. transactions. However, there is a trend of B2B sales accumulating more revenue than business-to-consumer The U.S. Census Bureau and the Kauffman Foundation (B2C) sales. confirmed a partnership on an annual survey of business owners — as a complement, not a replacement, to the U.S. The Council released an infographic on women-owned Census Bureau’s Survey of Business Owners that currently businesses in the supply chain showing that wom- takes place every five years. This annual survey will collect en-owned businesses with business-to-business (B2B) 2014 data, be completed in 2015, and be released in 2016. sales earned higher receipts regardless of industry, and tend to have better access to capital. Anecdotal evidence The Chair met with Secretary of Commerce Penny Pritzsuggests that having other businesses as customers is a ker to recommend the collection of the following data key strategy to scaling a company. The infographic fea- points for the quinquennial Survey of Business Owners: tures the success story of Stacy Madison, the founder and • Future plans for business at present (regardless of former owner of Stacy’s Pita Chips, and details her use of original intentions) B2B sales to scale her chip empire.

From online courses to studies on B2B sales, the NWBC needs data to understand what resources to provide and what is trending. The Council continues to foster the creation of hard statistics to help better assist women business owners. Federal agencies can be especially helpful in collecting meaningful data.

The Consumer Financial Protection Bureau (CFPB) is a federal agency that overlooks financial products and services.

The Council urged the implementation of an annual Survey of Business Owners and called on the Consumer Financial Protection Bureau to begin collection of data on demand for small business credit.

• Intentions behind starting firm (for example, necessity vs. lifestyle vs. growth) • Amount of capital by source • More detailed industry information available in the public use microdata set • Information about patents and intellectual property • Longitudinal data • Title/role of owners (for example, CEO) to determine if “women-led”

Council staff met with staff from the Consumer Financial Protection Bureau’s Office of Community Affairs and the Office of Regulations to elevate the need for collection of demographic information on demand for credit, specifically requesting an updated timeline on compliance with the Dodd-Frank Act. Council staff learned that implementation of Section 1071 of the Dodd-Frank Act, which amends the Equal Credit Opportunity Act to require that financial institutions collect and report information concerning credit applications made by women-owned and minority-owned businesses, continues to be on hold until NAWRB MAGAZINE |

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NWBC • Information on STEM education • Legal form of organization (for example, C-corporation, S-corporation, LLC, partnership or sole proprietorship) • Participation in exporting In addition to the NWBC’s recommendations for new data collection, there is one important subject that could benefit from further research: the women’s entrepreneurship ecosystem.

Many membership organizations, government agencies, financial institutions, academics and others are nurturing the women’s entrepreneurship ecosystem, which provides support to the 7.8 million women business owners in the country. However, there is little understanding of the system as a whole and how its component parts work together. Because of the Council’s convening power and relationship with many of the stakeholders in the women’s entrepreneurship ecosystem, the Council is uniquely positioned to make recommendations to strengthen the support organizations that help women grow their businesses.

The NWBC proposed a series of hypotheses and questions: • How do demographic, social, economic and other factors impact the ability of women business owners to gain entry into and successfully participate in corporate supplier diversity programs?

• How aware are women business owners of supplier diversity programs and the opportunities for growth they might offer?

• How have women business owners overcome the challenges and barriers that hinder their participation in corporate supplier diversity programs?

• What “best practices” and characteristics are most common to corporations with successful supplier diversity programs?

• What are the benefits of supplier diversity programs — to both women business owners who participate in and corporations that offer such programs?

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• For what reasons do some women entrepreneurs choose to seek to participate in corporate supplier diversity programs while others do not?

• In what industries do women-owned businesses have a growing presence in corporate supplier diversity programs and what is contributing to the growth?

The data and methodology will be established in January 2015.

Moving forward with 2015, the NWBC has proposed multiple strategies to better connect women-owned businesses with the proper opportunities to expand their businesses. One strategy includes the following: • The Council will propose an expansion of the NAICS codes in which WOSBs are eligible for set-asides — currently 83 NAICS codes — to better represent the demographics of today’s women business owners and increase participation within the WOSB program.

• The Council will celebrate and learn best practices from the government agencies that met their 5.0% goals, and share with those that did not meet the goal.

• Research will identify existing opportunities and potential barriers for women entrepreneurs in corporate supplier diversity programs and share best practices of corporate supplier diversity programs.

• The Council, in partnership with the six participating membership organizations and other interested parties, will conduct matchmaking events for women and government contracting opportunities — by region, industry, and readiness — by leveraging the SBA’s Business Opportunity database.

NWBC Research that better serves women-owned businesses and provides greater awareness is most effective when shared with extended outreach. The Council has adopted strategies to bring the necessary awareness. One of its strategies is to “share research and findings through consistent and strategic outreach and updates to policymakers, influencers, partners, and other stakeholders.

• The Council will begin a new project, in partnership with the SBA Office of Women’s Business Ownership and Carnegie Mellon University, to map out the entrepreneurship landscape — including membership organizations, Women’s Business Centers, government

agencies, financial institutions, academic institutions, and other entities — and its impact.

• The Council will work with participating membership organizations on a journey mapping of women’s entrepreneurship, offering guidance for the potential challenges and highlighting available opportunities and resources.

NAWRB appreciates everything the NWBC does to expand opportunities and champion for women in business. For the full 2014 NWBC Annual Report, visit www.nwbc.gov.

“Moving forward with 2015, the NWBC has proposed multiple strategies to better connect women-owned businesses with the proper opportunities to expand their businesses.”

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Insurance

Tomorrow’s Housing Market Opportunities for Success… & Risk for Real Estate Professionals

By John L. Torvi

The risk management landscape for real estate professionals seems to be transitioning to a new stage with changing economic trends including relaxed lending rules, lower unemployment and gas prices, all likely resulting in an uptick in the housing market. The evolving valuation world will now be faced with the new Collateral Underwriting (CU) procedures. Depending on one’s perspective, CU is either a blessing or a curse.

How will these changes impact real estate professionals ability to successfully perform their duties while avoiding the pitfalls that lead to missed opportunity, malpractice insurance claims or licensing complaints?

Easy Money While the factors that led to the “Great Recession” were numerous and complex, it would not be an overstatement to include the all-too-available mortgage dollars, relaxed borrowing standards and minimized industry oversight that allowed the unscrupulous to take advantage of the situation and further compromise the financial and housing markets. Many professionals and members of the public otherwise made decisions that contributed to the financial woes. The government and industry responses were numerous and a combination of helpful, confusing or painful, depending on one’s professional perspective.

Dodd-Frank, UAD, HAMP, the AMC appraisal format and other regulatory intervention (often resulting in large fines and sanctions) did have some effect on calming the market. One ancillary consequence of the recession was a significant increase in professional liability insurance claims against real estate professionals which includes appraisers, agents, title agents, mortgage brokers and even real estate attorneys. Another was a purging of professionals from the licensing roles, most notably

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“The National Foreclosure Report states that there was a decrease of over 35% of homes in the United States...” appraisers, whose licensed numbers are reduced up to 20 percent in some locations.

Nevertheless, the economy has improved as has the housing market, according to many sources. Trulia’s Q4 2014 Housing Barometer states that three of its five indicators—existing home sales excluding distressed sales, home price level and delinquency plus foreclosure rate— are all moving back towards “normal.” (Their other two indicators are new construction starts and employment amongst the millennial 25-34 year old age group which did not show significant improvements). CoreLogic’s November National Foreclosure Report states that there was a decrease of over 35 percent of homes in the United States in some stage of foreclosure between November 2013 and November 2014.

Insurance Further optimism results from factors including FHA lowering insurance premiums for low income and first time buyers, Fannie and Freddie lowering down payment requirements, and declining fuel prices. It is perhaps the lowering of down payment requirements that brings about the most hand-wringing. Many see this as a way to bring buyers back in the market to ease the credit crunch.

Others see it, along with proposed bank deregulation in our new House and Senate, as déjà vu all over again inviting abuse and the return to the problems of the previous decade.

Whatever view one takes, these dynamics will test the skills of agents, appraisers and other professionals as the market becomes more active.

Valuation The valuation industry, no strangers to a housing market in flux, will see changes in 2015. On the horizon are potential modifications in Dodd-Frank, additional State legislation of AMC’s and CU. It is the latter that seems

“The economy has improved as has the housing market.” to draw the most concern from valuation professionals.

The CU program, developed by Fannie Mae, is designed to grow a database of alternative property sale comparisons to compare against comps used by the professional appraiser. The database will then be used as part of an appraisal review with FNMA’s goal to reduce the rejection rate of appraisals by FNMA through better screening at the lender level. The catch for appraisers, according to a variety of industry sources, is that only lenders and their third-party affiliates (i.e. Appraisal Management Companies) will have access to this database. Appraisers will not. The originating appraiser will only be able to learn if

“A client who is dissatisfied with one part of the transaction will often become dissatisfied with the whole experience...” the CU database has “better” comps than the one used in the appraisal upon return of the report, which then could extend the loan processing time and potentially increase the cost. Appraisers further state that they were the ones to develop the information in the database in the first place, so why be denied access? Making the database available to appraisers could speed up the appraisal and lending process as the original appraisal could utilize the CU comps, or more immediately respond as to why they were not used. Several appraisal organizations are attempting to address this through petitions and/or letters to government officials; many others are offering classes and seminars on how to manage CU requirements. One thing for sure is that increased demands on the appraisal process also increases the risk involved in preparing the report, potentially leading to another spike in liability issues for boots on the ground appraisers.

Risk Management, Insurance and the Real Estate Professional No matter what segment of the real estate profession one practices in, incorporating a working knowledge of local and national economic and regulatory trends diminishes risk to one’s practice. The likelihood of new and first time buyers into the market creates great opportunity, but also demands that professionals step up their game to properly serve these new clients and all involved parties. Liability is reduced when a professional is aware of and acts fully in accordance with all expectations. It is also reduced when there is an awareness of the total transaction, recognizing each party’s role with the mutual goal of serving the clients. Far too many liability claims bring in multiple parties, even the NAWRB MAGAZINE |

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Insurance professional who appears to have performed their task without error or omission. But a client who is dissatisfied with one part of the transaction will often become dissatisfied with the whole experience, bringing claims of malpractice or impropriety against everyone involved.

Disclosure and valuation, against real estate agents and appraisers respectively, remain the biggest categories of malpractice claims. Drilling deeper into these broad categories often reveals that it was insufficient communication amongst professionals that resulted in the client’s dissatisfaction. Someone who views and participates in the transaction based on their own singular roles may miss important facts. Thus, an inspection issue becomes

a lawsuit against the agent. A failure to disclose allegation against the agent becomes a valuation claim against the appraiser and so on. Defending yourself against the error of another professional requires due diligence and awareness of what everyone is bringing to the deal. The litigious environment of the housing world in the last decade has diminished only slightly. Improving economic factors are steering us back to some kind of stability.

Increases in errors and omissions insurance premiums have moderated, and underwriting is more flexible. It remains to be seen if real estate professionals can together embrace the coming changes on behalf of the industry and consumer.

John L. Torvi is the Vice President of Marketing & Sales at the Herbert H. Landy Insurance Agency of Needham, MA. A 25 year veteran of the insurance industry, he is a frequent contributor and speaker regarding risk management and professional insurance issues. He can be reached at johnt@landy.com or 781-292-5417.

Contracting Opportunities

Contracting Opportunities: Find the Right One for Your Business

O

ur last issue featured an article about the passage of the National Defense Authorization Act which secured sole source authority for the Woman-Owned Small Business (WOSB) Program. How does this legislation affect a WOSB? What level of effort does a WOSB firm need to invest to make this legislation profitable and low risk?

By Mary Jo Juarez The Basics

Agencies and prime contractors (usually large businesses who hold a contract with the government) have a variety of socio-economic goals established for them by the Federal Government. These goals include WOSB, Service Disabled Veteran-Owned Small Business (SDVOSB), Historically Underutilized Business Zone (HUBZone)

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Contracting Opportunities Small Business, Small Disadvantaged Business (SDB), and Small Business (SB). Some examples of goals for Federal Agencies to meet when soliciting contracts are:

Remember, although the percentages may appear small in the chart, the dollar amounts associated with these percentages are huge when applied to the Agencies such as the Department of Defense or Department of the Interior. Additionally, each prime contractor who is classified as a Large Business (based on either number of employee or three years of annual revenues) is required to have a Subcontracting Plan approved by the Small Business Administration (SBA) and the Agency Contracting Officer. The goals in these Subcontracting Plans can be substantially higher than the goals for the agencies. (I worked with a prime contractor who was required to subcontract 79 percent of their subcontracting dollars to small businesses). This leads to two strategies for market consideration– does the WOSB want to work directly with a government agency as a prime contractor or work with a prime contractor as a subcontractor? Or both?

Agencies (Federal, State, and Local) and prime contractors generally will require a WOSB to obtain certification to validate their socio-economic status. In addition to the certification, the WOSB firm will need to register in System Award Management (SAM). Registration is free and this system is used by the Federal Government and prime contractors for validation, goal attainment, market research and is necessary in order to be paid by the Federal Government. SAM will generate an identifier for each firm called a Commercial and Government Entity (CAGE) Code. Agencies and prime contractors utilize CAGE Codes instead of the firm’s name for market research due to difficulties between the names and the web system. For example, if the WOSB is “MJ Realty and Associates” and the agency or prime contractor searches for “MJ Realty,” a match will not appear. Hence, the CAGE Code is used for identification purposes and to streamline the process of locating a small business.

the socio-economic status (WOSB, Veteran-Owned Small Business, and Minority-Owned Small Business) along with the CAGE Code, and a tagline stating what the business does. If the agency or prime contractor has a WOSB goal they are attempting to meet, they will search through their marketing materials for WOSB and a CAGE Code. While prime contractors usually accept electronic marketing materials, several branches of the government will request hard copies as they are not able to look at websites or receive large emails due to security restrictions and settings. Always ask which format is preferred.

“I have seen contracts issued for goats to clear environmentally sensitive areas...”

The government buys everything or has a prime contractor purchase it for them. As a former Contracting Officer, I have seen contracts issued for goats to clear environmentally sensitive areas, dogs to chase geese off military airfields and for balloons to welcome military personnel returning home. How can a WOSB figure out where to market her firm’s services and products?

The last issue of this magazine discussed the services offered by the Small Business Administration (SBA), an agency that maintains a wealth of information regarding who in the government is purchasing what services and products. Each state has a Procurement Technical Assistance Center (PTAC) that is partially funded by the Department of Defense to help small businesses obtain government contracts. Many of the counselors in the PTACs are former government employees with Opportunities knowledge and connections for introductions. PTAC Marketing materials differ slightly yet significantly for services are free to small firms. You can work with the private sector and those involved in the public sector. several counselors and/or centers since they all offer difCapability statements and business cards should include ferent expertise and classes. Industry conferences and

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Contracting Opportunities forums are great places to find contacts and build relationships. Alliance Northwest has over 650 attendees and is the largest business-to-government conference in the Northwest with networking and matchmaking sessions available to small firms. Building relationships is the basis for many successful contractors.

What opportunities exist for WOSBs in the housing industry? Even in times when the Federal Government is not spending a great deal of money, they are still spending more than anyone else. Mobility is a way of life for many agencies, especially the Department of Defense. Follow the money – what bases are building up? For example, a ship arriving means a number of families will need housing.

In my own community, we requested the local motels register in SAM in case a need for temporary housing occurred. Unexpectedly, the Navy needed to house a large number of military members due to housing renovations on bases. None of the local motels had followed through and registered in SAM, forcing the Navy to arrange bus transports for military members to stay at a base over three hours away. As discussed above, SAM is used by the Department of Defense for payment and without registration, the Contracting Officer could not put a contract in place with any local facilities. Another area to follow is when the Government Agencies are awarding contracts in your community – track who is receiving those awards and where they are located. One of the recent local awards in Washington State was to five contractors from across the nation who were not familiar with the local community and needed assistance in relocating, setting up offices, homes, and finding employees.

Keys to success:

Is gaining another stream of income in this manner worth it? Some studies show it takes an average of 18 months to build relationships and get that first contract. Here are a few suggestions to help facilitate the process faster: Start your certification process now!

When learning a new subject or industry, the first item to ponder and study is the language. The public sector—whether federal, state, or local—is full of acronyms. “SAM,” “CAGE Code,” and “WOSB” are just the tip of the iceberg. The good news is that you can simply ask for help whether in a meeting with an agency or at a conference. Many

professionals understand and are more than willing to help a firm navigate and make introductions.

Stay current on government market trends.

Establish at least one viable working relationship with a business that does some federal contracting work. You can work with that business as a subcontractor prior to attempting to be a prime contractor.

Know your niche and research which government agencies need your skills.

Always ask questions. The individual you are talking with may not be the one to give you a contract, but could possibly share contact information of someone who could help you get closer to your goal.

Diversify! Work with several prime contractors, agencies, or in a teaming arrangement with other small businesses that have government experience.

Don’t disappoint a customer once you have an award.

Don’t send non-specific marketing emails with large attachments as they will most likely not make it through the email limitations of most government agencies.

Do your homework and establish relationships.

Work with your local SBA and PTAC office; offer to facilitate a class or workshop at one of their industry forums.

“The Navy needed to house a large number of military members... None of the local motels had followed through and registered in SAM, forcing the Navy to stay at a base over three hours away.”

Legislation usually provides an incredible opportunity.

However, it makes no sense without the tools to make that opportunity a reality. It’s important to keep learning and asking for help to move your business towards your goal.

Mary Jo Juarez is retired from the

Federal Government after more than 30 years as a Contracting Officer. She spent the past six years as the Deputy for Small Business for a branch of the Navy which helped her fulfill her true passion: helping businesses connect and achieve success in all aspects of government contracting. Juarez is currently the President of the Juarez Group where she consults with businesses regarding certification and government contracts.

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Government

FHFA Decision:

Path to Affordable Housing or Another Crash?

Mel Watt, Director of the Federal Housing Finance

Agency (FHFA), is facing mounting pressure regarding his decision to lift a temporary suspension on allocating funds to the national Housing Trust Fund (HTF) and Capital Magnet Fund (CMF). With the lifted suspension, 4.2 basis points of each dollar of the unpaid principal balance for new business purchases from Fannie Mae and Freddie Mac will be diverted towards the funds.

Enacted in the summer of 2008, the Housing and Economic Recovery Act of 2008 (HERA) created the HTF and CMF. According to Housing and Urban Development (HUD), HTF “is a new affordable housing production program that will complement existing Federal, state and local efforts to increase and preserve the supply of decent, safe, and sanitary affordable housing.” Extremely low- and very low-income households are eligible for the program. Updated income limits for extremely low- and very low-income households for each county in the U.S. can be found on HUD’s website.

The HTF works by providing funds to eligible state and state-designated entities for activities that include real property acquisition, relocation assistance, demolition, and site improvements. In regards to eligible households, assistance can appear in the form of deferred loan payments, grants, interest subsidies, and equity investments.

“The percentage of first time home buyers has reached a 27-year low with only a 33% share of home sales.”

Similar to the HTF, the CMF promotes affordable housing but utilizes Community Development Financial Institutions (CDFIs) and non-profit housing developers as the vehicles for creating inexpensive housing options.

The CMF can also use funds for community facilities and economic development projects that encourage affordable housing. As a competitive grant program, the CMF is

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Government unique in that it was created to increase investments and attract private capital.

Although HERA established the allocation of funds to the HTF and CMF, it was temporarily suspended when the Government-Sponsored Enterprises (GSEs) were placed into conservatorship under the FHFA. The steep financial woes generated by the subprime mortgage crisis led to the eventual conservatorship decision.

Fast-forward to December 2014, Watt wrote a separate letter to the respective CEOs of Freddie Mac and Fannie Mae that explicitly called for the termination of the suspension on allocating funds to the HTF and CMF in order to help bolster affordable housing.

According to 12 U.S.C. § 4567 (b), the suspension was due to allocations violating one or more of the following: • Contributing or would contribute to the financial instability of Fannie Mae/Freddie Mac. • Causing or would cause Fannie Mae/Freddie Mac to be classified as undercapitalized.

• Preventing or would prevent Fannie Mae/Freddie Mac from successfully completing a capital restoration plan.

jections reveal that they will maintain profitability in the future. The decision to resume allocating funds can always be reversed or updated based upon the financial situation.

“Some believe that his decision will set the U.S. on the path for another major crash...”

Given the current conservatorship that remains in effect, people have expressed widespread concern regarding Watt’s decision. Some believe that his decision will set the U.S. on the path for another major crash, dubbing it “Crash 2.0.” Others believe that, in the hands of housing groups, the funds will be used with ulterior motives such as contributing to reckless home loans or lobbying; they have been referred to as “slush funds.” One opponent of Watt’s decision and his reasoning is the epicenter for the decision has felt provoked enough to author legislathe arguments of both proponents and opponents. In tion to counteract the decision. his letters to Freddie Mac and Fannie Mae, Watt used four main reasons to support his decision which is U.S. Representative Ed Royce (R-CA) displayed his disappointment in December when the decision was first summarized below: • The decision to temporarily suspend allocations was a announced, and authored the Pay Back the Taxpayers Act product of the circumstances at the time. Currently, of 2014. According to Rep. Royce, who is also a senior member of the House Financial Services Committee, those circumstances have changed.

• Financial operations have stabilized to a reasonable the act would “prohibit contributions by Fannie Mae and level. In addition, allocations and set aside would not Freddie Mac to the Housing Trust Fund and the Capital be a contributing factor to financial instability of the Market Fund while the institutions are in conservatorship or receivership.”

GSEs in question.

• 12 U.S.C. § 4567 (b)(2) and (3) are no longer applicable. These sections refer to the classification as On the day of the December 2014 announcement, Rep. undercapitalized and the successful completion of a Royce stated, “Contrary to what Fannie and Freddie capital restoration plan. Currently, the capital clas- apologists claim, the GSEs have yet to repay any of the sifications are suspended under the FHFA and the taxpayer-funded bailout funds they received, which makes GSEs in question are not seeking to complete a cap- today’s announcement by the FHFA outrageous. Money ital restoration plan. Both GSEs have entered into coming in from the GSEs should go to the taxpayers inSenior Preferred Stock Purchase Agreements (SPS- stead of a slush fund for ideological housing groups to play around with.”

PA) to avoid receivership.

• Since 2012, the GSEs have not endured profit levels that are anticipated to be sustainable. However, pro- The 2014 bill that Rep. Royce authored was not enacted.

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Government However, that has not deterred him. He recently created the revamped Pay Back the Taxpayers Act of 2015 which restricts the GSEs from allocating funds to the HTF while they are in conservatorship or receivership. But regardless of conservatorship and receivership status, the bill will restrict the GSEs from redirecting funds to the HTF and CMF as it pertains to the FHFA’s interpretation of HERA. Opposition was revitalized once again when Watt testified before the House Financial Services Committee in late January 2015. The consensus among opponents remained clear: the FHFA’s recent decisions could lead the U.S. into risky territory that may result in another crash. However, some members of the Committee cited other reasons that could fuel a crash. These reasons include the GSEs’ recent announcement of three percent down payments and the prevention of risk-based guarantee-fee pricing.

But with opposition comes a host of proponents. The crux of a critical supporting argument rests in the fact that the GSEs have already paid back the Treasury in excess. Of the $188 billion of bailout money, around $225 billion has been paid to the Treasury in dividend payments.

With the GSEs exhibiting financial stability and the rapidly dwindling number of first time home buy-

ers, many believe expanding the HTF and CMF is a step in the right direction for repairing the housing market and boosting affordable housing for everyone, regardless of economic strata. To add perspective, the percentage of first time home buyers has reached a 27year low with only a 33 percent share of home sales.

Those in favor of the decision are hoping to reverse the dismal statistics to strengthen the housing market and improve the national economy.

In a press release supplied by Senator Reed, a list of supporters include Senate Banking Committee Chairman Tim Johnson (D-SD), Maxine Waters (D-CA), Elizabeth Warren (D-MA), and Barbara Boxer (D-CA).

It must be reiterated to opponents that Mel Watt stated in his letters to the GSEs that the decision can be reversed or updated, pending changes in the financial situations of the GSEs. In addition to the flexible nature of the decision, Watt also stated that Congress has the power to not allocate funds, if desired. Funds in fiscal year 2015 will be set aside and will become available for use in 2016.

“Many believe expansion is a step in the right direction for repairing the housing market and boosting affordable housing for everyone.”

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Board of Directors

Meet Your New 2015 NAWRB Board of Directors!

We are honored to have these distinguished women as our Board of Directors. They have the passion, commitment and strength to carry out NAWRB’s mission to provide women the tools and opportunities for economic growth and expansion, while advocating and promoting women-owned businesses specializing in the housing economy. NAWRB is also the only third-party industry-specific certifier of Women-Owned Business (WOB) and Minority Women-Owned Business (MWOB) specializing in the housing economy.

With chairwomen leading their respective committees, NAWRB is positioned to grow its members’ business opportunities both horizontally and vertically in a changing climate.

Reach out and personally congratulate each of our chairwomen as they dedicate their valuable time and resources to Specializing in the Housing Economy, SHE is changing real estate. Welcome!

Irma Delgado-Trikas

Government Relations Chairwoman | ITrikas@aristant.com

Irma Delgado-Trikas graduated from California State University-Sacramento with a Bachelor of Science in Business Administration and an International Business concentration. She is the owner of Arista National Title, a Woman-Owned Business. Additionally, Irma has worked in industrial construction/modular business, finance, wholesale industry, and was nominated in May 2012 for the O.C. Business Woman of the Year award.

Cayce Macias

Certification Chair Woman | Cl@caycelee.me Cayce Macias, a highly trained publicist, copywriter and brand strategist, has served the housing economy for well over a decade. Macias will leverage her extensive background in and passion for community affairs to oversee and promote the importance and value of Women-Owned Business Certification.

Liz Goodchild

NAWRB Magazine Chairwoman | Liz@goodchildhomes.com

Liz Goodchild, previously the CFO of Chicago Magazine for eight years, is currently president of the Chicago AREAA Chapter and broker/owner of Weichert Realtors Goodchild Homes. Her MBA and CPA accomplishments complement her an extensive and diverse background of real estate experience.

Melinda Harris

Membership Chairwoman | Melinda@exitprestigerealty.com

Melinda Harris, a real estate broker for over 20 years, has owned and built three Real Estate Franchise Companies from the ground up.

With strong political knowledge, she is currently broker/owner of EXIT Prestige Reality located in Anaheim, CA.

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Board of Directors Desirée Patno

NAWRB CEO | Desirée.Patno@NAWRB.com

Desirée Patno is the founder of the National Association of Women in Real Estate Businesses (NAWRB) and Desirée Patno Enterprises, Inc. (DPE).

With over twenty years of experience, Desirée brings insider knowledge to her mission of promoting women and women-owned businesses in the housing economy and the day-to-day management of DPE.

Renee Marie Smith, Esq.

Media Outreach Chairwoman | Renee@smithtitleservices.com

Renee Marie Smith, Esq. is an 18 year real estate attorney, president and founder of the statewide title company, Smith & Associates. She is an author, motivational speaker/trainer and publisher of the “My Guru” book series. Renee has educated hundreds of agents in Nevada and Florida on real estate practices and procedures.

Heidi Robinson

Events Chairwoman | Heidi@heidirobinson.com

Heidi Robinson, a founding member of the CalWest REO Team, has diverse experience in many aspects of the housing continuum. Her active involvement in a number of industry realted activities support her efforts and dedication in bringing new services to the real estate industry.

Donna Nazir

Business Development Chairwoman | Donna.Nazir@gmail.com Donna Nazir, is the Broker/Owner of The Skye Group Inc. and Sierra Hills Escrow. She is the co-founder of Renas Dresses, a free prom boutique that’s benefits under privileged girls in attending prom for free.

Brandy Nelson

Chapter Chair Woman | Nelsonreoteam@gmail.com

Brandy Nelson was featured as a sheCENTER(FOLD) in one of NAWRB Magazine’s 2012 issues. She has also served on the board for Young Professionals Network (YPN), NAWRB, and Women’s Council of Realtors (WCR). Brandy brings extensive knowledge and experience and owns her own brokerage.

Jennifer Gano

NAWRB Foundation Chairwoman | Jennifer.gano@lhfs.com

Jennifer Gano is a Branch Manager at Land Home Financial Services. She has been in the residential lending and finance industry for over 10 years. She is a confident, ambitious advocate for financial literacy in her community.

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sheCENTER(FOLD)

The 24th Administrator of the U.S. Small Business Administration (SBA)

MARIA CONTRERAS-SWEET From founding ProAmérica Bank to her appointment by President Obama as the 24th Administrator of the SBA, Maria Contreras-Sweet has made incredible strides in her career. She divulges to NAWRB her personal role models, journey to the SBA, and what she’s doing to champion for small businesses.

NAWRB: You have an extensive background working in government with your first introduction as a secretary for the Speaker of the California State Assembly. Was it a long-time goal of yours to work in government?

Maria Contreras-Sweet: I always believed in public service but my career path took me into business. My time in government has been some of the most rewarding work of my life. Before I started my own bank, I spent five years running a large government agency back in California that had jurisdiction over Business, Transportation and Housing. When I say “large” – we had 44,000 employees, 14 departments and a $14 billion budget. We were able to do a lot of important things, such as creating the Department of Managed Health Care and its Office of Patient Advocate, passing a $2.1 billion bond for affordable housing, and initiating construction on the San Francisco-Oakland Bay Bridge – one of the largest infrastructure projects.

My work at the SBA presents an opportunity to make an impact on a national scale. I’ve seen the pivotal role the SBA plays in our entrepreneurial ecosystem. As a bank chairwoman, I examined business plans, their viability, and management’s ability to execute. This not only strengthened my knowledge of the challenges that small businesses face, it also strengthened my resolve to help them overcome those hurdles and succeed.

Two out of three new jobs in America are created by small businesses. Millions of middle class families are working for folks who depend on the SBA’s ability to facilitate access to capital, counseling and contracting opportunities. As a banker and a former SBA lender

in California, I’ve seen the difference this agency can make. It’s one of the reasons I was so motivated when President Obama asked me to take this challenge on.

I know there’s so much we can do together to provide access to capital and be a resource for entrepreneurs and the lenders who serve them.

This country was founded by risk-takers, resourceful pioneers who built this prosperous nation. Entrepreneurialism is our heritage. The American Dream has always been about the opportunity to earn a good education and the keys to your own home, but the expanding American Dream is also about the opportunity to start your own business. I’ve lived that Dream. And as SBA Administrator, I’m determined to help others realize theirs, as well.

John F Kennedy once said “All of us do not have equal talent, but all of us should have an equal opportunity to develop our talents.” I’ve come to realize that access to the American Dream means access to capital. Entrepreneurs are the difference-makers in our economy.

NAWRB: At NAWRB, we offer Minority Women-Owned Business certification specializing to the housing economy and support the active implementation of supplier diversity. You have been vocal about the need to expand lending to diverse entrepreneurs as the face of entrepreneurship is changing in America. What can businesses do to promote themselves to supplier diversity programs?

Maria Contreras-Sweet: Supplier diversity programs are an important way for both women-owned business-

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sheCENTER(FOLD) es and minority-owned businesses to expand and grow by securing more contracts with government agencies and major corporations. Supplier Diversity was first introduced right around the time that the SBA was established in 1953. Today, a big part of what the SBA and our resource partners do is help qualified businesses get certified for these opportunities. During registration, you’ll need to provide information on your business, including ownership data, an org chart, product and services information, references and certifications, and a summary of your company’s accomplishments. Some are put off by the paperwork requirements, but it’s worth the investment of time! Certification can be the first step in dramatically building your book of businesses.

Small businesses that secure corporate contracts increase their revenue by an average of 250 percent and increase their hiring by an average of 150 percent.

Many large corporations are required to report to their boards their work to include women-owned and minority-owned businesses in their supply chains.

And many large federal contractors are looking to create more diverse supply chains to meet their federal procurement targets for small and mediumsize businesses.

NAWRB: Along with President Obama, you announced the launch of SupplierPay last July. We applaud this initiative as it will foster the success of small businesses through expedited payments from the companies that hire them. What is the progress of SupplierPay since the announcement? | NAWRB MAGAZINE

Thanks to SupplierPay, companies are now committing to pay small business contractors faster. This way, small suppliers get the capital they need and larger companies benefit from higher-quality goods, more stable suppliers, and lower prices. Twenty-six companies joined the President in the initial launch of SupplierPay, and now, 21 additional companies have signed on to the pledge, including Xerox, IBM, Hallmark Cards, Kaiser Permanente, and Zappos.com.

As I’ve traveled the country and asked America’s small business owners their No. 1 challenge, I hear the same thing over and over again: They tell me: “Our customers love what we’re selling. I just need steady working capital to scale up so we can service more of them.” That’s what SupplierPay is all about.

It’s about giving our entrepreneurs access to affordable, consistent working capital. It’s about paying them on time. And it’s about keeping their interest rates low so they can invest in new equipment, new products and new people.

“ The American Dream is about the opportunity to start your own business.”

After your business is certified, SBA can help make introductions to help you realize the benefits of certification. We hold procurement events, supplier conferences, and do 1-on-1 matchmaking with federal buyers and the key decision makers for prime contractors. You can reach out to your local SBA district office, Small Business Development Center or Women’s Business Center in your area to learn more.

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Maria Contreras-Sweet: Small firms create two out of three new jobs in America and account for half of all private-sector employment. One-quarter of our small businesses are firms that primarily supply other firms.

On average, corporations take 46 days to pay their invoices of their suppliers – namely, small businesses that provide them with goods and services necessary for their business. Waiting 46 days or more to get paid leaves small businesses without the capital they need to hire and invest in new opportunities or equipment.

After taking the pledge, Intuit offered 10-day payment terms to 320 small businesses and moved more than 80 independent contractors to contracts that committed to pay them within 10 days. Intuit’s actions will impact an estimated $40 million in payments this year. Lockheed Martin, the world’s largest security and aerospace company, sources more than 60 percent of its work through

sheCENTER(FOLD) its supply chain. They are committed to paying 100 percent of small business supplier invoices on an accelerated schedule. The company’s supplier portal flags small businesses so Lockheed Martin can accelerate payment, cutting payment time in half to just 15 days.

“My role models were people like my mother & grandmother, who made so many sacrifices to enable me to be where I am today.”

The SBA will continue to hold SupplierPay working sessions to bring together both existing and new SupplierPay companies to discuss best practices companies are taking to implement the pledge and put metrics in place to track and measure impact of this initiative going forward.

NAWRB: Beyond small businesses in general, there is one type of small business that has developed immensely over the decades: women-owned small businesses. However, they still face many obstacles.

Earlier in your career, you were one of the commissioners for the Federal Glass Ceiling Commission which helped spearhead studies on the glass ceiling that suppresses women and minorities. Do you believe women are close to meeting parity with their male counterparts and how can women continue to break barriers in the workforce?

Maria Contreras-Sweet: I was appointed by the United States Senate in the mid-1990s to serve on the Federal Glass Ceiling Commission. Our job was to explore why the executive suite was locked for so many women and to suggest what could be done about it. At the time, 97 percent of leadership positions at Fortune 500 and Fortune 1000 companies were held by white men. This did not reflect America, and it sent a negative message to young professional women interested in starting careers in business.

So the Commission issued a tough report. I think our most dire finding was that the situation was bad today, but tomorrow wasn’t looking much better. There weren’t many women in the leadership pipeline at top companies. Not only was this outdated thinking, it was bad for business.

Corporate America was wasting an enormous talent pool.

One of the commission’s key recommendations was that the government had to reduce barriers for women. Twenty years later, I’m delighted to lead an agency committed to doing exactly that for women entrepreneurs.

Women have come a long way, but we still have a long way to go. More than one in four U.S. companies today is owned or led by a woman, and these firms employ more than 7.8 million Americans. The SBA is deeply committed to fostering economic opportunity for women, through our work in the areas of capital, counseling, and contracting. Since 2009, SBA lending to women-owned businesses has gone up 31 percent across our lending programs.

Twenty-six years ago, Congress passed the Women’s Business Act, which was a watershed achievement because it allowed women to get business credit without the signature of a male partner or relative. Congress recognized that women are builders – building businesses, building jobs, building homes. Now, it is up to us to ensure that the next generation of women can build their entrepreneurial dreams.

“My grandmother back in Mexico would write me these wonderful letters. She’d tell me that if I worked hard and played by the rules in America, anything was possible.”

We all have a shared responsibility to champion diversity and workplace flexibility to help women succeed. We must give women the choice to be what their skills and hearts desire – be it a homemaker who stays home with the kids, or a home maker who owns the construction company that is building the next residential development.

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sheCENTER(FOLD) NAWRB: Those statistics are truly inspiring. As an immigrant from Mexico and member of a working-class family, you are an inspiration as well and prime example of what hard work and determination can produce.

What advice do you have for those that want to work in government and/or politics to enact change but feel they don’t have the economic means to get started?

Maria Contreras-Sweet: In Los Angeles, I was founding president of a group called Hispanas Organized for Political Equality – or HOPE. The group’s mission is

“We must give women the choice to be what their skills and hearts desire...” to empower Latinas to become more fully engaged in our democratic process. We founded HOPE, because whether we’re talking about the local school board, the city council, state government, or the Congress of the United States, our elected officials are a reflection of the people who show up on Election Day to send them there. So I tell Americans that if they feel frustrated by gridlock or bedeviled at the pace of our progress, you have to vote and fully participate in our democracy.

Nothing will change unless we make it change.

It’s a remarkable sign of the progress we’ve made that

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there are now three Hispanics in the cabinet for the first time in this nation’s history. These are important milestones to be celebrated. When I became a cabinet secretary in California in the 1990s, I was the first Latina to do so at the state level. Hispanics have come a long way in the last two decades. Today, we see the fruits of our efforts everywhere with more diversity and more inclusion throughout this administration, in governor’s mansions, in Congress, in starring roles in Hollywood, even on the Supreme Court.

NAWRB: From Vice President of Public Affairs for 7-Up/RC Bottling Company to founding ProAmérica Bank and now Administrator of the SBA, you have steadily risen in your career. Do you have any particular mentors or role models that have inspired you to persevere throughout your career?

Maria Contreras-Sweet: A wise man once said, “A lot of people have gone further than they thought they could because someone else thought they could.” I believe in the power of mentorship. As a former small business owner myself, I know it can often seem like a lonely road. On any given day, I could be called upon to be the company’s human resources director, CFO, spokeswoman, or chief sales officer, all while competing against larger firms in highly competitive markets. Today, I believe in the power of mentoring young people on my staff. Those of us who’ve come from difficult circumstances have a special responsibility and opportunity to lower the ladder and lift people up behind us.

sheCENTER(FOLD) Even on days when our small business owners feel like there’s no one in their corner, it’s important for them to remember there are mentors in every community in this country. Call your SBA district office, your local Small Business Development Center or Women’s Business Center. Look up your local SCORE chapter to get paired with a mentor. There are literally thousands of SBA staff and retired executive volunteers whose job is to make your job easier. Please look us up, because when small businesses succeed, America succeeds.

many and very exciting changes have already occurred in your first 100 days.

My role models were people like my mother and grandmother, who made so many sacrifices to enable me to be where I am today. I was born in Guadalajara, Jalisco, Mexico, and immigrated to this country when I was five years old. We didn’t have much, but what we did have was an abundance of hope and a belief that America is a land of opportunity.

We threw out the wealth test. No borrower should be turned down because they enlisted a wealthy investor to help underwrite their project. We want small businesses to attract private capital. So we’re no longer scrutinizing the personal liquidity of every investor.

When I arrived, I didn’t speak a word of English. My mother took the job at a poultry processing plant so her children could have opportunities that she never would. She worked long hours doing grueling work for minimum wage, while her kids went to school.

Maria Contreras-Sweet: I was humbled to receive the call from the President’s team, and I was eager to get to work. As a former banker, my first order of business was to modernize the SBA and make it easier for small business owners to access capital and easier for lenders to lend. I immediately announced important regulatory changes to help entrepreneurs seeking real estate loans.

We eliminated the nine-month rule. Business owners were being told they waited too long to apply for a real estate loan. It can take time to organize a project; permits can take months or years to secure. So we changed the rules so that it doesn’t matter when you apply for the loan, as long as the expense is related to the project.

We changed our collateral rules to give borrowers more flexibility. Under the old rule, the property or equipment financed by what we call a 504 loan had to serve as the loan collateral.

Now, borrowers can put up other assets to get into this program and get a lower interest rate.

“This country was founded by risk-takers.”

I come from a family of migrant workers. After we immigrated, my grandmother back in Mexico would write me these wonderful letters. She’d tell me that if I worked hard and played by the rules in America, anything was possible. She said, “Maria, you could even work in an office some day and become a secretary!” Well, the good Lord heard her. I do hold office and became a cabinet secretary in California and now I’m in the President Obama’s cabinet. Only in America!

NAWRB: After the resignation announcement of the previous Administrator, there was much speculation about who and when someone would be nominated.

What were your initial thoughts on your nomination by the President? Your appointment has been applauded by

After the Recession, SBA loans to minority communities dropped, but I’ve made it my top priority to get those numbers back up. We zeroed out fees on small loans of $150,000 or less, which is what our Main Street businesses need. Many small business loaned money out of their own pockets to their businesses, so they wouldn’t have to lay employees off. We should reward – not punish – this sacrifice. So we’re putting more weight on business credit than personal credit when evaluating a loan application.

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sheCENTER(FOLD) NAWRB: In the recent passage of the National Defense Authorization Act (NDAA) for Fiscal Year 2015, the sole source authority restriction for women-owned businesses was lifted. How will this impact certified women-owned businesses?

Maria Contreras-Sweet: When President Obama took office, he tasked the SBA to issue a new rule to make it easier for women-owned small businesses to access federal contracts. If we want corporate America to become more diverse, the federal government needs to lead by example when it decides who to include in its supply chain. Under the new rule, Uncle Sam – for the first time – was to set aside specific contracting opportunities for women-owned businesses. It’s about equal opportunity and leveling the playing field.

Women-owned businesses have grown by a remarkable 20 percent in just five years. More than one in four U.S. companies is owned or led by a woman, and these firms employ more than 7.8 million Americans. Currently, women entrepreneurs are receiving less than five percent of federal contracts, and we can do better.

I called for sole-source authority for women entrepreneurs in my first major speech as SBA Administrator and I lobbied the Chairman of the Senate Armed Services to include this authority in the defense-spending bill. I’m so gratified he did. This will give women entrepreneurs much-needed parity with other disadvantaged groups, who’ve used this authority to secure tens of millions of dollars in new contracts from the government.

“Women entrepreneurs are receiving less than 5% of federal contracts, and we can do better.”

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Friday, April 10th, 2015

10630 Town Center Drive, Suite 102 Rancho Cucamonga, CA 91730 Upcoming Road Shows: April - Victorville, CA April 14th -Dallas, TX May 21st - San Diego, CA June 10th - Miami, FL *Dates are subject to change

NAWRB & SBA Invite you to learn how to: • • • •

Take your business to the next level of success How to qualify for an SBA Guaranteed Loan for your business Win government contracts set aside for your business Start your business successfully

This is a great opportunity to meet and mingle with other women industry leaders in your community and key resource providers. Sign up now at NAWRB.com under Road Show.

Conference Review

Recap of IMN's 3rd Annual

Single Family Rental Investments Forum Hundreds of real estate professionals flocked to Scottsdale, Arizona for IMN’s 3rd Annual Single Family Rental Investments forum. The event highlighted private equity, REITs, note buyers, bond investors, and fix & flippers.

may seem sizable, RealtyTrac reports that this is “down from 4.6 percent in the second quarter of 2014 and down from 5.6 percent in the third quarter of 2013 to the lowest level since the second quarter of 2009.”

With a fluctuating market, it is important to reevaluate the relevancy of housing processes and how to approach them.

The three-day forum tackled this sentiment with workshops that analyzed how lucrative current methods of gaining revenue are and provided a fresh new perspective on methods in need of updating.

To address the creeping downward spiral, many of the workshops discussed the profitability of flipping homes in the current market; how to scale up your operations; financing for hard and soft structures; and if buying or holding is more suitable for your business and market. One interesting takeaway from the workshops was that buying and holding is becoming the new trend to supersede flipping homes.

The diverse workshops catered to many real estate backgrounds which made it a popular event choice for attendees. Hot topics included underwriting issues, flipping vs. holding, and different aspects of single family rentals. In addition to attracting attendees nationwide, NAWRB members Ivy Melton and Heidi Robinson were also in attendance.

In particular, the aspect of flipping vs. holding properties was one of the focal points of the forum. According to RealtyTrac, flipped homes in the third quarter of 2014 represented 4 percent of all U.S. single family home sales, equating to 26,947 properties. Although this

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Adding to the informative workshops were highly knowledgeable speakers.

Most of them were CEOs, vice presidents, and directors of major banking institutions, widely recognized construction companies, lenders, and more.

“All of the sessions were really great.

The caliber of speakers and attendees was quite astounding,” said NAWRB member Ivy Melton.

Although the forum embodied a professional tone, IMN provided attendees different ways to let loose and enjoy the Arizona sun. A recreational highlight

was the IMN Single Family Rental Golf Tournament which welcomed people to sign up for golf lessons. Those uninterested in golf were able to indulge in other outdoor activities like hiking up picturesque mountains or cycling across the scenic trails on the outskirts of the property. Attendees looking to relax had the option of soaking up the sun poolside with sweeping views of the rocky Scottsdale hills and thriving succulent-filled landscape.

With so many executives, exhibitors, and attendees in one venue, it was only fitting to host networking events for everyone involved. The first two days concluded with networking receptions allowing people to buzz around the venue to engage in conversation and make valuable connections.

From networking events to entertaining activities and hard-hitting workshops, the forum was a success with attendees wanting more. IMN hosts multiple real estate-specific conferences every year and has already captured the interest of several NAWRB members.

For more information, visit imn.org.

Conference Review

Recap of Inman’s Real Estate Connect

THINK OUTSIDE OF THE BOX As a NAWRB Chairwomen, I enjoy attending real estate conferences around the country. I decide which one rises to the top every year. Since it is only February, one might call me bold to claim Inman Real Estate Connect New York is the best conference of 2015, but it will be hard to top.

The speakers on the panels were superb. They were leaders in their fields, but more importantly, they covered diverse areas of business.

Brad Inman, the publisher of Inman News, started day one proclaiming that his goal for the 2015 conference was to attract the brightest and most innovative people with expertise outside of real estate. He wanted the panelists’ advice to cross-over into innovative business development for real estate professionals. In other words, he wanted to force attendees to “think outside of the box” in real estate. Inman’s idea was supported

by Mike Ferry who stated that most real estate agents rarely take advice from sources outside their circle of influence, which limits growth and

innovation. I believe Brad Inman reached his goal. This conference transformed my business perspective and opened my eyes to new growth opportunities.

There was so much valuable information; I recommend visiting Inman Connect’s website to watch some of the videos. Below, I have summarized some of the advice from my top panelists I had the pleasure of hearing.

Alexis Ohanian, Co-Founder and Executive Chairman of Reddit, was an energetic speaker and comes from a startup IT background. His advice was relevant to how technology impacts business, whether you are ready for it or not. He stressed one needs to integrate a technology plan into a business marketing strategy. Ohanian recommended “paying it forward” by joining chat rooms and sharing free advice within your specialty to attract new customers. He went on to say that you should meet them at their location instead of bringing them to you or your site.

Rupert Murdoch, Executive Chairman of News Corp, sees a 41 percent increase in the real estate market with Millennials turning 30 and the real estate industry being streamlined across America with technological growth.

Both brick and mortar, and Internet/ technology companies can coexist without conflict. Agents are vital to a real estate transaction as buying property is still a personal choice.

News Corp bought Realtor.com; at its core, Realator.com is an information platform and people will always need information. Internet marketing is different than Internet branding. Google’s model for search advertising works well and yet social media advertising does not, as it is a branding vehicle. Optimize your outreach by carefully playing to your platform strengths in utilization.

NAWRB Media Outreach Chairwoman, Renee Marie Smith, Esq. is an 18 year real estate industry expert.

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Conference Testimonials

NAWRB NAWRB’s Inaugural Conference Testimonials

Dear DesirĂŠe,

I want to thank you for the invitation to participate in the 2014 National Association of Women in Real Estate Business (NAWRB) conference. You have an impressive organization that provides a powerful network not only for your membership but for organizations such as Freddie Mac. I probably gained more by attending than what I had to contribute. Three words come to mind when I think about my participation with the NAWRB October 2014 conference. They are: Communication, Relationships and Diversification.

Communication: There was an informative speech

from Congresswoman Maxine Waters, who sits on the House Finance and Banking committee, regarding the impacts of the Dodd Frank Section 342, OMWI regulation on the real estate and finance industry. There were powerful panel discussions on how to do business with GSEs, Federal and State Government Agencies including the SBA, FDIC, CFPB. I also heard loud and clear some of the issues, concerns, recommendations and ideas from your membership related to doing business with GSEs and other agencies. This is valuable information that I am hoping to continue to relay back to our business units.

Relationships: While all of these events were taking place under one roof, your membership had direct one on

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one contact opportunities to meet the panelists, corporate, federal and state representatives. I am still in communication with some of your members that I met at the conference. Relationships are key to contracting.

Having a face with a name and the ability to contact that person to build a relationship and foster as an advocate for you is a tremendous benefit from events such as yours.

Diversification: Finally, I think that it was very im-

portant to have a discussion and information around the decreasing REO opportunities at the GSEs. It is key to always be aware of the changing environments and economies and where the future opportunities are going to be.

Discussions around how can we leverage our skills, experience and ideas in the REO business to other contracting opportunities were key take aways from the conference.

As the old hockey expression goes, we all need to be skating to the place where we think the puck is going to go.

This was truly a tremendous opportunity and look forward to participating in future events.

Thanks,

Jay Inouye

Director, Vendor and Diversity Management, Strategic Sourcing and Procurement, Office of the Chief Administrative Officer, Freddie Mac

Conference Testimonials

What a wonderful opportunity it was to meet the people who are involved in creating the laws that benefit Women Owned Business's! I feel like I was able to obtain a tremendous amount of information that I needed to make decisions for the continued growth of my company.

- Mashell C. Stith, Real Estate 31

"What a great event! Had a chance to connect with other strong business women in today's housing industry. The energy was through the roof. I am ready to make 2015 my best year yet due to the best practices I learned while at the conference. NAWRB embodies synergy at its finest."

“NAWRB hosted a great conference! It was very informative regarding raising the awareness of Dodd Frank Section 342. I look forward to the 2015 conference.”

- Marleitha Williams

- Donna Nazir, Broker/CEO The Skye Group, Inc.

"It was a great experience, full of information that is useful in my business. I am very excited to see the future of NAWRB."

-Brandy Nelson, Keller Williams Realty

"I really liked the power in numbers that we had and I really liked the level of integrity of the women that were there — they were over the top."

- Valarie Kennedy, Re/Max

"It was definitely a groundbreaking conference. It was unquestionably out of the norm; very innovative and unique sessions. Having the SBA there was truly beneficial. I thought it was a great event to help grow my business."

- Heidi Robinson, Thunderbird Real Estate

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Conference Testimonials

The Inaugural NAWRB Conference held in Long

Beach, California was nothing less than enlightening.

I have been in the real estate business for more than 30 years now, and have attended numerous conferences.

In all those years, I have never felt the magnitude of greatness that I felt at NAWRB’s Inaugural Conference.

Desirée Patno, our leader, was able to enlist powerful women and men who hold positions as managers or directors at the FDIC, Freddie Mac, Fannie Mae, and had congresswomen speak at the conference. They truly enlightened and inspired us with their open dialogue in the promotion of women-owned businesses. We were able to get the CEO of EXIT Realty International, Tami Bonnell, and the President of New American Funding, Patty Arvielo, to sit on panels and discuss our challenges and strengths as women-owned businesses. Their indepth panel discussions were extremely informative. As we move forward into 2015, I am confident that members of NAWRB will be held to a higher esteem by the very individuals attending our conferences. When we knock on their doors to expand our relationships, we will be heard.

When women come together, and share their support and knowledge, there is nothing stopping us!

-Melinda Harris Broker / Owner, EXIT PRESTIGE REALTY

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"

Dynamic, Innovative, Inspir-

ing! We made History! I am so proud to have been a part of this amazing, ground moving event."

-Donna

Nazir,

Broker/CEO The Skye Group, Inc.

Financing

The Unique Bank OFfering Women-Owned Business Financing provides women in business access to capital, customized financial solutions, educational and networking opportunities.

PNC Financial Services has demonstrated its commitment to supporting women-owned businesses through corporate actions. For example, since 2007, PNC has spent more than $353 million directly with Women Business Enterprises (WBEs). The supportive actions of PNC transcends to its client base.

There are more than 1400 PNC-Certified Women’s Business Advocates (WBAs) who are bankers especially committed to supporting the achievement of women who own or run businesses. In addition to delivering the financial products, services and resources, the WBAs are often in management, or other commanding roles in organizations that instruct women or bring together women in business.

“Wells Fargo has made a commitment to raise $55 billion for women-owned businesses in the United States by the year 2020.”

Some banks are actively promoting access to capital for

women-owned businesses and using their resources to help move them forward. One of those banks is Wells Fargo.

Wells Fargo made a commitment to lend $55 billion to women-owned businesses in the United States by the year 2020.

Since 1995, Wells Fargo has lent over $38 billion dollars to women-owned businesses. In addition to the cumulative lending goal, Wells Fargo supports numerous outreach efforts to build relationships with women business owners and help them succeed financially. For women-owned businesses, Wells Fargo offers banking, payroll, business loans and lines of credit, insurance, credit cards, merchant services, online resources, and retirement planning.

Key Bank is another company committed to the growth of women-owned small businesses. They have lent more than $6 billion to women business owners since 2005—the year Key4Women was established. The Key4Women program

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Union Bank, on the other hand, offers a unique lending program specifically for women-owned (and minority- and veteran-owned) businesses. The program has been in use for over two decades. Its financing program provides direct access to capital for women-owned businesses with less restrictive lending requirements and has some flexibility on underwriting loans. Union Bank is regulated by the Federal Acquisition Regulation (FAR), so if a loan is on the fence and can’t be financed under the regulated guidelines, Union Bank partners with over 21 outside Community-Based financing partners to help secure financing without brokering out the deal. Talk about going the extra mile on behalf of WOBs! Applications can be completed online for credit lines and loans up to $100,000. Access to larger limits are available through their direct bankers. WOBs have the option to choose from unsecured or secured loans with fixed- or variable-rate financing programs.

According to Union Bank, ‘Women-Owned Business’ is defined as a woman who owns at least 51% of the business, manages the day-to-day operations and the company has been in business for at least two years. The bank’s special lending program is focused on WOBs having annual sales

Financing up to $15 million with a loan limit of $2.5 million for their women-owned business lending portfolio.

It is an exciting time for women-owned businesses as there is more education and opportunities with growth potential and access to capital. Union Bank’s lending program is obtaining fruitful results. One of the companies benefiting from the program is FCI Management. FCI Management was created in 1998 and provides customers with innovative strategies and solutions in the energy and water industries.

It offers more efficient systems to customers which reduces costs, makes a positive impact on climate change, and creates a sustainable global environment.

Union Bank was able to accept FCI Management through an examination of the positive repayment history between FCI Management and one of its major clients. Union Bank regulated the loan amount using the SBA CAPLINE Program—a program for loans up to $5 million to help small businesses make their cyclical working and short-term capital obligations. This allows FCI Management to amplify and preserve its cash flow while abolishing their factoring line, which carried high fees and interest. Union Bank was able to give the company a one million dollar SBA CAPLINE and save them $150,000 in annual interest and fees. “...the fact that we were able to get the loan actually reduces the amount of interest that we’ll have to pay using any type of loan or financial vehicle. So, I think that’s going to save us a tremendous amount of money on interest,” said Founder and CEO of FCI Management, Patricia Watts. The company can now continue to expand, and add additional support and sales staff.

Union Bank also termed out the current balance on the factoring line by utilizing the SBA 7(a) program—the SBA’s most prevalent loan program, which provides financial assistance for businesses that have special requirements.

Watts was able to participate in the SBA’s 504 loan program which allowed her to purchase the building she has occupied for the past four years.

A 504 loan is a fixed-rate, 10 percent down, long-term loan providing revenue for the acquirement of fixed assets (e.g. buildings, machinery, real estate, etc.) at lower market rates.

FCI Management is just one of the many women-owned businesses taking advantage of Union Bank’s unique loan program. More financial institutions are coming on board pledging resources to help women-owned businesses, spreading awareness and connecting women to opportunities. Visit unionbank.com or sba.gov to be one step closer to growing your business with the necessary capital.

Prospect Has

Renovation Loans for Every Need!

Renovation loans are a great option for people who are looking to buy or refinance a property in need of repairs or upgrades. With one loan, and one set of fees, buyers can close on a home and get the cash for major to minor repairs. Prospect offers a full line of renovation mortgages. Here are a few basics to help you understand the differences.

FHA 203(k) Renovation Loan: n

Allows complete home renovation with a Consultant loan or, smaller projects that cost $35,000 or less with a Streamline loan.*

Fannie Mae HomeStyle® Renovation Mortgage: n

Purchase and renovate most residential properties and even include luxury items like pools that cannot be done with the 203(k).

With our renovation background and experience with timely dispersal of funds for the project, we can help your buyers buy and create their perfect home. Contact us today!

888-685-1576 Experienced.

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Additional restrictions may apply. *Please speak to your Loan Officer regarding the differences between Consultant and Streamline FHA 203(k) Renovation loans. HomeStyle® is a registered trademark of Fannie Mae. Rev 10.23.14 (1014-1697) LR 2014-865 Equal Housing Lender. Prospect Mortgage is located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA. Prospect Mortgage, LLC (NMLS #3296, www.nmlsconsumeraccess.org) is a Delaware limited liability company. Operates as Prospect Lending in NY. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice.

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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:

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) certifications 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

• 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

Women-Owned Business Certification Specializing in the Housing Economy

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

FILMS

BOOKS Eat, Pray, Love

By Elizabeth Gilbert This profound memoir takes the reader on a journey of self-discovery and self-love.

Author Elizabeth Gilbert was married, lived in a beautiful home in the country, had a great career and was trying to start a family. But there was one problem- this wasn’t the life she wanted. Gilbert decides to file for divorce and goes on an inspiring journey around the world where she feeds her soul through the pleasures of food, the devotion of prayer and the balance of love.

MEE Thinks

By Mary Ellen Edmunds This nonfiction collection of essays focuses on the topic of thinking. Author Mary Ellen Edmunds writes about her heartwarming ways of pondering life’s everyday occurrences and she invites her readers to do the same. Whether Edmunds is fantasizing about entering her home in what is called ‘The Parade of Homes’ or exploring topics such as laughter, she writes with a therapeutic and almost spiritual feel, allowing the reader to be more mindful about her or his own life and learn to be grateful.

Landline

By Rainbow Rowell

Georgia and Neal are having a rough time in their marriage. A few of days before the couple and their children are supposed to visit Neal’s family in Omaha, Georgia tells Neal that she won’t go with him. To Georgia’s surprise, Neal leaves with the kids to Omaha without her and she is left contemplating whether or not she ruined her marriage.

The same night, Georgia descovers a mystical phone that will allow her to speak to Neal in the past. It’s not quite time travel, but the question arises: is this something she should do to help fix her marriage, or would the two be better off having never married in the first place?

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Wild

Starring Reese Witherspoon, Laura Dern Cheryl Strayed led a reckless and careless existence. With the death of her mother and a recently failed marriage, she craves an escape from her spiraling life. On a whim, Strayed decides to travel over a thousand miles of the Pacific Crest Trail on her own. Without anyone to help her along the way, Strayed traverses the rough terrain and battles the impossible while finding inner strength and resolution along the way.

Top Five

Starring Chris Rock, Rosario Dawson

Andre Allen started his career as a standup comedian but has since transitioned to acting with his hit action-comedy movie series about a talking bear. Wanting to deviate from comedic acting, Allen creates a movie project about the Haitian Revolution. After getting harshly reviewed by the New York Times, Allen must spend a full day with a New York Times profile writer, Chelsea. The duo surprisingly forms a strong connection as Allen tries to revisit his stand-up comedic roots.

The Theory of Everything

Starring Eddie Redmayne, Felicity Jones The Theory of Everything portrays the life of Stephen Hawking and his wife, Jane Wilde. The movie follows the young life of Hawking at Cambridge University where he meets and falls in love with his wife.

The young couple is faced with life-altering news as Hawking is diagnosed with motor neuron disease which slowly paralyzes his body. Forced to confront the uncertain, The Theory of Everything follows the couple as Hawking explores the study of time and makes milestone discoveries in science.

what WOMEN WANT

s e s n e s r u r o o l y o c e f t o a s r p o o g p Invi with beautiful nfidence co e d u x e t tha

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Part Part 3: 4:

Women’s Women’s Cancers: Cancers:

New treatments on innovation Discovery startsdepend with basic research

In this series – this part explores the search for innovative new therapies – we explore crucial strides made against women’s In this series – this part researchers highlights our newthe clinical – weprojects exploreare crucial madeinvolving against women’s by cancers

by City of Hope during past trials year. The manystrides and varied, the basicscancers of fighting City of Hope researchers during the past year.

The projects are many and varied, involving the basics of fighting cancer, cancer, analyses of who’s at greatest risk, the search for surprising new therapies, the testing of new treatments and the folanalyses of survivors who’s at greatest the search for surprising new therapies, the testing of new treatments and the follow-up low-up with and theirrisk, partners. with survivors and their partners.

By Elizabeth Stewart Reprinted with permission from City of Hope

Photo: Gains against women’s cancers, including breast and ovarian cancer, start with basic research.

BRINGING NEW TREATMENTS TO THE CLINIC VIA CLINICAL TRIALS Novel drug combination brings promising results Clinical trials are crucial to improving treatment of ovarian and breast cancer. At City of Hope, one clinical trial seeks to help women with triple-negative breast cancer, another aims to improve radiation therapy and still another focuses on ovarian cancer.

it especially difficult to treat. The trial, led by Jeffrey Weitzel, M.D., and George Somlo, M.D., both professors of medical oncology and therapeutics research, tests the common drug carboplatin in combination with a novel targeted therapy called a PARP inhibitor.

A phase I clinical trial led by researchers at City of Hope has demonstrated the promise of a new drug combination for women with triple-negative breast cancer.

More than half of the women enrolled in the study responded to treatment with this PARP inhibitor — indicating remarkable results for women with this hard-to-treat cancer.

Weitzel and Somlo presented these promising results at the annual American Society of Clinical Oncology conference and the San Antonio Breast Cancer Symposium.

This type of breast cancer doesn’t produce any of the three proteins that common cancer therapies target — the identifying characteristic that gives it its name, and which makes

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In Part 1: We explained ways in which researchers are seeking to fight cancer through basic science.

In Part 2: We showed how researchers are trying to better understand risks and prevention.

In Part 3: We explored the search for new therapies.

Each study plays a role. Each adds to what we know about cancer. Each brings us closer to cures.

An alternative to radiation

Renowned oncologist joins Women’s Cancers Program

Courtney Vito, M.D., assistant clinical professor of surgical oncology, is participating in a multi-institutional study on promising new treatment for women with breast cancer called intraoperative radiation therapy (IORT).

James Waisman, M.D., a highly respected and well-known expert on breast cancer, recently joined City of Hope’s Department of Medical Oncology & Therapeutics Research.

Performed during lumpectomy surgery, a catheter is placed directly into the cavity where the tumor was removed and intense radiation is delivered directly to the cancer site for about 15 minutes. This brief procedure replaces six to seven weeks of daily radiation treatment and saves patients time and stress associated with travel.

More important, IORT can help patients avoid the devastating side effects of receiving radiation to an entire side of the chest — including weakened ribs, skin problems, scarring on the breast, and the risk of life-threatening second cancers.

An emerging treatment for ovarian cancer Thanh Dellinger, M.D., assistant professor of gynecologic oncology, oversees a clinical trial to study hyperthermic intraperitoneal chemotherapy (HIPEC) in women with ovarian cancer.

Waisman has devoted his career to promoting a multidisciplinary model of treatment, in which an entire team works together to provide integrated care for patients.

Since the beginning of his career, when he cared for women in a private medical practice, he has generated research and worked to set higher standards of care to promote his strong belief in this kind of patient-centered, collaborative treatment.

Waisman chose to come to City of Hope because of the opportunity to join a culture that regards patient care as central to healing, and in which this value for patients is integrated into research. He is also eager to teach young clinicians this patient-centered model of care.

Next: Part 5: Helping women thrive during, and after, treatment

This emerging treatment involves chemotherapy that is heated to an elevated temperature and delivered inside the abdomen directly following surgery to remove the tumor.

The warmed solution circulates throughout the peritoneal cavity to kill any microscopic cancer cells that may be left behind after all visible cancer is removed.

In addition to assessing the effectiveness of this treatment, this trial also studies how HIPEC impacts a woman’s quality of life, in collaboration with City of Hope’s Division of Nursing Research and Education. With this study, Dellinger will collect vital data on the efficacy and toxicity of HIPEC — shaping national standards of care for women.

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Asparagus in Puff Pastry Ingredients: 1 small bunch of trimmed fresh asparagus, about a ½ lb ¼ cup parmesan cheese, grated 1 8-ounce package of cream cheese, softened 1 sheet of puff pastry, thawed if frozen 1 large egg plus 1 tablespoon water, mixed

Directions:

NAWRB Twist

1. Preheat oven to 425°F. Line a baking sheet with parchment paper.

2. Place puff pastry on lightly floured surface. Roll out dough into a large rectangle, about twice its size. Cut into 8 squares.

3. Spread cream cheese on each square, leaving around a half-inch gap between cream cheese and edge of pastry. The cream cheese will spread as it is rolled around the asparagus.

Sprinkle parmesan on each square.

4. Place 2-3 asparagus spears in the center of each square.

Brush the edges with egg mixture and wrap the pastry around the spears until the pastry slightly overlaps. Press to seal.

5. Bake until pastry is golden brown and puffed, around 12 minutes. Serve warm.

1. Boil 1 cup of balsamic vinegar in a small saucepan. Lower the heat to a simmer once boiling. Reduce vinegar until syrupy. Drizzle over asparagus and puff pastry before serving.

2. Combine ¼ cup of chopped tarragon, a minced shallot, and a ¼ cup of champagne vinegar and white wine in a saucepan.

Reduce by half over medium heat. Blend with 3 egg yolks in a blender. Melt 1 stick of butter and add 1/3 to the mix with the blender running. Turn blender on high and add remaining butter. Drizzle sauce over asparagus.

Banana, Kale and Strawberry Smoothie Ingredients: 1 frozen banana 1/2 steamed kale leaves 1/4 cup frozen strawberries 3/4 cup vanilla flavored almond milk 1/2 cup water

Directions: • Blend and enjoy.

NAWRB Twist

• Sprinkle chia seeds ontop for extra nutrience.

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* Recipe Sources located in index

Our bodies can get tweaked from stress, lack of exercise, and even awkward sleep positions.

The good news is that there are simple stretches you can do to increase flexibility(literally and figuratively), give you more energy, and help rid you of stress.

Here they are:

The Forward Bend: Stand up straight with your feet hip-distance apart. Engage your quads and suck your belly in as you fold your torso towards your thighs. Make sure you are using your hip joints to fall forward, so as not to hurt your back. Hold this position for five breaths.

The DownwardFacing Dog: This yoga classic is practiced around the world and for good reason: it’s a great stress reliever and is likely to loosen up your muscles. Start on your hands and knees, wrists underneath your shoulders and knees underneath your hips. Now, stretch your elbows out and relax your upper back. Curl your toes under and lift your knees off the floor. Lift your pelvis up towards the ceiling and slowly straighten your legs, making sure not to lock your knees. Your body should be in a triangular shape.

Hold for five to ten breaths.

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k a e p S

Speak/Write

Hosted by the Irvine Chamber of Commerce, NAWRB CEO Desirée Patno discussed the special opportunities for women and women-owned businesses within the housing economy.

NAWRB members met with NAWRB CEO Desirée Patno in Glendora, CA to discuss the opening of new California chapters in West San Gabriel Valley, Victorville and Rancho Cucamonga. From left: Katherine Castillo Candelaria, Donna Nazir, Zoe Anspach, and Desirée Patno.

e t i r W

NAWRB Member Terry Rasner signs copies of her new book, “She Is All Business,” which focuses on her spiritual journey with God as she built her business empire.

NAWRB member Tami Bonnell was featured on RealEstateIndustryLeaders.com for ranking #6 on real estate trend-watcher Stefan Swanepoel’s list of 20 Most Powerful and Influential Women in Real Estate.

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Attend

d n e t At

NAWRB member Susan Jenkins attended Native American Group’s festive holiday party.

NAWRB member Debi Jensen (center right) dazzles in a black dress at the Century 21 All Professional holiday party.

NAWRB Members Donna Nazir and Jennifer Gano attended the Friday Morning Active Networking & Breakfast at West End Real Estate Professionals in Rancho Cucamonga, CA. From left: Donna Nazir, Cindy Fergen, and Jennifer Gano.

NAWRB members and non-members celebrate the holidays at the NAWRB Holiday Mixer. From left: Melinda Harris, Tezra Valdez-Rogers, Desirée Patno, Zoe Anspach, Irma Delgado-Trikas.

NAWRB member Liz Goodchild (center) sparkled in a vibrant red dress as she attended the last AREAA event of 2014.

NAWRB member Carlotta Diaz attended the NAHREP Sacramento Chapter’s 2015 Board of Directors installation. From left: Yvonne Herrera, Carlotta Diaz, and Maribel Garcia.

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upcoming

EVENTS February 8-11 ABS Vegas 2015 (Las Vegas, NV) The ABS Vegas 2015, a three-and-a-half day conference, co-hosted

by SFIG and IMN, will feature prominent executives and representatives in finance, investment management, law, mortgage and more.

Guests can network with market participants and learn about compliance issues, commercial mortgage, general market trends for both CLOs and leveraged loans, and more. Sponsors of the event include Bank of America, JP Morgan, Morgan Stanley and other respected companies.

February 8-11

ABA National Conference for Community Bankers (Boca Raton, FL) The American Bankers Association (ABA) is hosting The ABA National Conference for Community Bankers. This event will allow guests to speak directly to bank decision-makers, learn how to make their companies stand out with the proper audience, generate new leads, advertise products and services, and more. This annual conference is regularly packed with community bank CEOS, chairmen, presidents and more. The conference is expected to attract over 1,100 banking industry guests.

February 9-11 Improving Construction: More Value for the Money (Chandler, AZ) This 3-day conference is hosted by Construction Users Roundtable (CURT). It will allow guests to network, learn to improve their construction businesses, as well as how to peer-assess and selfassess their company’s construction program. Participants will determine what owners want from their contractors and vice versa.

CURT is an organization that seeks to make the construction industry safer, enhance the way construction is managed, planned, justified ect., and much more.

February 11-12 The 5th Annual Bank & Financial Institution Special Asset Executive Conference on Workout (Fort Lauderdale, FL) The Bank & Financial Institutions Workout Forum is hosted by the Information Management Network (IMN). REO & C-level executives will be able to network and discuss workout and credit issues.

Talking points include: special assets, risk management, the economy’s impact on real estate, construction loans, acquired assets management and workout, and more. The event is being sponsored

by Roger Towers Attorney At Law.

Network February 12

Women and Veterans Federal Contracting Program (Atlanta, GA) Hosted by the SBA, this workshop can teach guests how to become fruitful entrepreneurs in the contracting sector. Discussed topics will include government wide procurement programs and how they provide opportunities for small businesses. Attendees can explore each individual program as it relates to them and their success in business. The workshop caters to veterans and women who would like to conduct business with the federal government.

February 17-23

2015 Mid-Winter Conference (Tampa, FL) The 2015 Mid-Winter Conference is hosted by the National Association of Real Estate Brokers (NAREB) and is the perfect event for those looking for variety. The conference will feature sessions on social media, conversation techniques meant to aid in business success, how to deal with workplace conflict, as well as wonderful networking opportunities.

Attendees can learn new practices to propel their businesses forward.

February 23-26 MBA’s National Mortgage Servicing Conference & Expo.

(Dallas, TX) The Mortgage Bankers Association (MBA) is hosting the MBA’s National Mortgage Servicing Conference & Expo. It will feature 15 different educational sessions, including vendor management, mortgage services, and FHA property preservation. Speakers will include Eric Greitens, New York Times best- selling author and founder of The Mission Continues -a nonprofit organization for military veterans to find new missions. The event is sponsored by First American Mortgage Solutions, Safeguard Properties, and more.

February 25

4th Annual Real Estate Weekly Women’s Forum (New York, NY) The 4th Annual Real Estate Weekly Women’s Forum, hosted by Real Estate Weekly, is a great conference for attendees to connect with real estate entrepreneurs who will divulge valuable information from case studies promoting active opportunities in the real estate market.

Conference topics include development, construction, sustainability, information technology and capital raising. As an attendee, you will be among 550 women owners, investors, developers and professionals with fresh viewpoints on real estate issues. Guests will be able to network and connect with industry experts and peers.

March 9-10

The Crowdfunding Forum For Real Estate (New York, NY) The Crowdfunding Forum For Real Estate is being hosted by the Information Management Network (IMN) and is perfect for those new to the crowdfunding market or people looking for a refresher course. Topics will include everything from getting started, managing risks, broker/ dealer operator regulations, and whether or not you want to interface with investors. There will even be open question and answer sessions from the perspectives of lawyers, developers and more. The event is sponsored by American Homeowner Preservation (AHP), Sullivan & Worcester, and many others.

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index ADVERTISERS C Chrimata, Inc......................................... 55 City of Hope......................................... 64 D Desirée Patno Enterprises, Inc............... 29 H Harmony Escrow, Inc............................ 48 L Landy Insurance Agency....................... 28 N NAWRB............. 2, 3, 7, 22, 29, 39, 45, 49 NMP Magazine.................................... 62 P Prospect Mortgage................................ 47

COMPANIES A American Bankers Association.............. 59 American Homeowner Preservation.................. 59 Areaa............................................... 30, 58 Alliance Northwest................................ 25 Arista National Title..................10, 30, 31 Art Partners Group............................... 12 Atlas Field Services, Inc........................ 10 B Bank of America................................... 59 C CalWest REO....................................... 31 CBRE Buffalo................................. 12, 13 Century 21 All Professional.......10, 11, 58 Chicago Magazine................................. 30 Ciminelli Real Estate Corporation............................ 13 City of Hope................................7, 52, 53 Coast to Canyon Real Estate................. 11 Comvest counseling............................... 12 Consumer Financial Protection Bureau........................ 17, 42 Corelogic............................................... 20 D Darnella Barnes Real Estate Services........................... 10 Desirée Patno Enterprises, Inc.............. 31 E Exit Alliance Realty............................... 11 EXIT Prestige Realty.................11, 30, 44 Exit Realty International....................... 44

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F Fannie Mae...............21, 26, 27, 44, 45, 47 FCI Management............................ 46, 47 Federal Deposit Insurance Corporation............42, 44, 45 Federal Housing Administration........... 21 First American Mortgage Solutions........................... 59 Freddie Mac........ 13, 21, 26, 27, 42, 44, 45 Federal Housing Finance Agency.................. 7, 26, 27, 28 G Gershman Commercial Real Estate........................................ 12 Google................................................... 41 Goree & Thompson Real Estate, Inc.................................. 11 H Hallmark Cards..................................... 34 Hiscock & Barclay................................. 12 Hispanas Organized for Political Equality.......................... 36 Home Buyers Marketing II................... 11 Howard Hanna Real Estate Services........................... 12 I IBM....................................................... 34 IMN................................................ 40, 59 Inman News.......................................... 41 Institute of Real Estate Management, The................... 13 J JP Morgan............................................. 59 Juarez Group......................................... 25 K Kaiser Permanente................................. 34 Keller Williams Realty.......................... 43 Key Bank............................................... 46 Kimball, Tirey & John, LLP.......................................... 11 L Land Home Financial Services............. 11 Landy Insurance Agency....................... 11 Leland Management............................. 13 M Morgan Stanley .................................... 59 Mortgage Bankers Association.............. 59 N NAHREP............................................. 58 National Association of Real Estate Brokers....................... 59

NAWRB.......................... 7, 10, 19,30, 40, 42, 43, 44, 58, 59 National Women’s Business Council...............7,14, 15, 16, 17, 18, 19 Native American Group........................ 58 New American Funding.................. 30, 44 News Corp............................................ 41 O Orange County Association of Realtors......................................... 12 P Paragon Commercial Brokerage............12 Parkfield Escrow, Inc.............................11 Partner Energy......................................12 Philips Lytle LLP..................................13 PNC Financial Services........................46 ProAmerica Bank............................ 33, 36 Q Quality Real Estate Services, Inc...........11 R RC Bottling Company..........................36 Re/Max.................................................43 Real Estate...................................... 31, 43 Realtor.com...........................................41 RealtyTrac.............................................40 Reddit....................................................41 Rena’s Dresses.......................................31 Roger Towers Attorney at Law.............59 S Safeguard Properties..............................59 Sierra Hills Escrow................................31 Sinatra and Company Real Estate.........13 SBA...........7, 14, 15, 16, 17, 18, 19, 24, 33, 34, 35, 36, 37, 38, 39, 42, 45, 47, 59 Smith & Associates...............................31 Stacy’s Pita Chips..................................17 Sullivan & Worcester.............................59 Swanepoel Power 2000..........................12 Skye Group Inc, The.................. 31, 43, 44 T Thunderbird Real Estate........................43 Trulia.....................................................20 U Union Bank..................................... 46, 47 U.S. Navy........................................... 7, 25 W Weichert Realtors Goodchild Homes.............................30 Wells Fargo...........................................46 X Xerox.....................................................34

index Z Zappos.com...........................................34

PEOPLE A Adams, Alma...........................................9 Anderson, Cristina................................11 Anspach, Zoe.................................. 57, 58 Arvielo, Patty.........................................44 B Barnes, Darnella....................................10 Blair, Saira...............................................9 Bonnell, Tami.................................. 44, 57 Boxer, Barbara.......................................28 Boyle, Chris...........................................13 Brooks, Melodee....................................45 Burger, Lori...........................................13 C Candelaria, Katherine Castillo..............57 Cantwell, Maria.....................................15 Casey Hanna, Hellen.............................12 Coleman, Bonnie Watson........................9 Contreras-Sweet, Maria........ 7, 32, 33, 34, 35, 36, 37, 38 D Dawson, Rosano....................................50 Delgado-Trikas, Irma................. 10, 30, 58 Dellinger, Thanh....................................53 Dern, Laura...........................................50 Diaz, Carlotta........................................58 E Edmunds, Mary Ellen...........................50 Erst, Joni..................................................9 F Fazendin, Andrea..................................12 Fergen, Cindy........................................58 Ferry Mike.............................................41 Fishkin, Darby.......................................12 G Gano, Jennifer........................... 11, 31, 58 Garcia, Maribel......................................58 Gilbert, Elizabeth..................................50

RECIPE SOURCES

Goodchild, Liz................................ 30, 58 Gorbea Nellie..........................................8 Greg, Suzanne.......................................12 Greitens, Eric........................................57 H Harris, Carla A................................ 14, 15 Harris, Melinda....................11, 30, 44, 58 Hawking, Stephen.................................50 Healy, Maura...........................................8 Holtzman, Elizabeth...............................8 Hosken, Kimberly.................................12 I Inman, Brad...........................................41 Inouye, Jay.............................................42 Ishimaru, Stuart.....................................45 J Jenkins, Susan........................................58 Jensen, Debi............................... 10, 11, 58 Johnson, Tim.........................................28 Jones, Felicity.........................................50 Juarez, Mary Jo.......................... 23, 24, 25 Juron-Borgese, Denise...........................13 Justice, Melissa......................................11 K Kennedy, John F....................................33 Kennedy, Valarie....................................43 L Langston, Dianne..................................11 Lee, Gina...............................................12 Lockheed Martin..................................34 Lopez, Yesenia.......................................11 Love, Mia................................................9 M Macias, Cayce........................................30 Madison, Stacy......................................17 Magnuson, Betsy...................................11 Marks, Kelly..........................................13 Marleitha Williams...............................43 Melton, Ivy............................................40 Murdoch, Rupert...................................41 Murphy, Mary Theresa..........................13 N Nazir, Donna.................. 31, 43, 44, 57, 58 Nelson, Brandy................................ 31, 43

• http://allrecipes.com/recipe/slow-cooker-beef-stew-i/ • http://chefronlock.com/recipes/pumpkin-cheesecake-in-a-glass/

INFO GRAPHIC SOURCES

O Ohanian, Alexis.....................................41 P Patno, Desirée................... 7, 31, 44, 57, 58 Pearlman, Debbie..................................13 Pritzker, Penny.......................................17 R Raimondo, Gina......................................8 Rasner, Terry..........................................57 Redmayne, Eddie..................................50 Robinson, Heidi........................ 31, 40, 43 Rock, Chris............................................50 Rowell, Rainbow...................................50 Royce, Ed..............................................27 S Sanguinetti, Evelyn..................................8 Senator Reed.........................................28 Smith, Renee................................... 31, 41 Somlo, George.......................................52 Sorensen, Shawn....................................11 Stefanik, Elise..........................................8 Stegner, Shana.......................................13 Stewart, Elizabeth........................... 52, 53 Stith, Mashell........................................43 Strayed, Cheryl......................................50 Sunser, Heather.....................................12 Swanepoel, Stefan..................................57 T Tayenaka, Rita................................. 11, 12 Thompson, Zoritha................................11 Torvi, John L............................. 20, 21, 22 Tsay, Margaret.......................................13 V Valdez-Rogers, Tezra.............................58 Vito, Courtney.......................................53 W Waisman, James.....................................53 Warren, Elizabeth..................................28 Waters, Maxine................................ 28, 42 Watt, Mel.................................. 26, 27, 28 Watts, Patricia.......................................47 Weitzel, Jeffrey.......................................52 West-Chenoweth, Shelly.......................10 Wilde, Jane............................................50 Williams, Marleitha..............................43 Witherspoon, Reese..............................50 Y Yvonne, Herrera....................................58

• http://www.cawp.rutgers.edu/press_room/news/documents/PressRelease_11-05-14-electionresults.pdf • http://www.politicalparity.org/12-firsts-for-women-in-the-2014-midterms/ NAWRB MAGAZINE |

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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.

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CONCLUSION

“The history of all times, and of today especially, teaches that... women will be forgotten if they forget to think about themselves.”

- Louise Otto

“I’d rather make history than write it.”

–Susan B. Anthony