A WORD FROM THE ASSOCIATION DIRECTOR PAGE 9
SDP COMMITTEE UPDATE PAGE 12
HOUSING COUNSELING HELP DURING THE COVID-19 CRISIS PAGE 14
VAREP FACES IN THE CROWD PAGE 25
C OV I D -19 E D I T I O N REGISTER TODAY! CLICK HERE
JUNE 15, 2020 10AM - 1:30PM PST VIRTUALLY VIA ZOOM
VAREP NATIONAL NEWS
A Letter From Our President
ROGER THAT MAY 2020
Dear VAREP Members, I present you “RT – ROGER THAT – May 2020”
EDITORIAL
E-Zine Newsletter. This is the best way for VAREP National to communicate happenings
PUBLISHER USA Homeownership, Inc. DBA Veterans Association of Real Estate Professionals
within our organization to our membership.
CRE ATIVE
VAREP experienced tremendous growth and
SENIOR DESIGNER Jesus Lopez
recognition in 2020 for the important work that we do. Each of you should be proud and stand tall knowing that your passion to empower veterans to realize the American Dream of homeownership has enabled VAREP
GRAPHIC DESIGNER Nick Preston SENIOR WEB DEVELOPER Francisco Labias
to be recognized by key leaders in the real
WEB DEVELOPER Freddie Lin
estate, financial, and government sectors as the
CO NTAC T VAREP
authority on, and voice of, military and veteran
HEADQUARTERS 951·444·7363 info@VAREP.net 495 E. Rincon St., Suite 110 Corona, CA 92879
financial-literacy and homeownership. VAREP ACCOMPLISHMENTS FROM 2014 - 2020 •
40 homes donated mortgage-free to deserving heroes across America.
•
1,500 military and veteran families realized the American Dream of homeownership through
w w w . V A R E P. n e t
our programs and services. •
20,000 real estate and lending professional were trained as a result of the 80 live events and online membership training.
•
•
•
5,000 military and veteran families educated about homeownership, financial literacy, and
ABOUT SON
the VA loan program through the live Veteran Housing Summits events hosted by VAREP
Son Nguyen is the founder and president of the
local chapters across the country.
Veterans Association of Real Estate Professionals
2,000+ military and veteran families were provided food, utilities payment, rent back
(VAREP). Mr. Nguyen creates, implements, and
payment, basic supplies, clothing, and blankets during the holiday season. This was made
overseas the programs within VAREP including
possible through our VAREP Cares program implemented by the VAREP local chapters.
working with government agencies and policy makers
$70,000 in the form of housing assistance grants for down-payment, closing costs, and adaptive
to create and reform veteran housing policy to remove
needs. This was in partnership with the Asian Real Estate Association of America (AREAA).
barriers to homeownership.
• w
He is frequently called upon as a subject-matter expert by government agencies, the real estate industry, the
HOW TO EXPLAIN WHO WE ARE AND WHAT WE DO I frequently receive phone calls from our membership on how to explain VAREP as an
lending industry, and real estate trade organizations to consult on a variety of veteran housing issues.
organization. Depending on your audience, you may want to adapt the points listed below to
Mr. Nguyen has more than 19 years’ experience in real
introduce VAREP.
estate, public speaking, supplier diversity, curriculum development, and non-profit management. His record
•
VAREP is a 501.c.3 nonprofit organization that was founded to directly educate the 1.4-plus
demonstrates innovation and leadership at the highest
million active military and 22-plus million veterans on sustainable homeownership, financial-
level.
literacy education, VA loan awareness, and economic opportunity. •
VAREP is the only organization that educates military and veteran families on the importance of financial health on the road to homeownership.
•
VAREP is the only organization that educates the real estate practitioner on the important housing-policy and lending initiatives that affect the military and veteran communities.
VAREP Comparison to Other Veteran Nonprofits The comparison chart to the right shows that we fill a much needed gap in financial-literacy and housing components that the other veteran service organizations simply do not offer…In other
Mr. Nguyen established VAREP as a housing non-profit for vets, by vets. He believes VAREP’s proactive stance of providing financial-literacy education and advocating homeownership can greatly impact homelessness among the veteran community, by both reducing the current epidemic and preventing future occurrences, one veteran at a time. Mr. Nguyen entered the Navy in 1996 and served as a Radioman on the USS Vincennes (GC-49) and USS
words: We complement them and do not compete with them.
Constellation (CV-64). A proud service-connected
Our organization has only scratched the surface of creating awareness and having people rethink
disabled veteran, Mr. Nguyen holds a bachelor’s degree
how to better serve underserved military and veteran housing needs. To a great 2020...Cheers!
in Public Relations from of the University of Florida and a Master’s in Organizational Management. He currently resides in Corona, CA, with his wife, son, and
Son Nguyen VAREP Founder and President
2
Labrador.
VE TER AN NON-PROFIT COMPARISON CHART Target Audience
VAREP Veterans = 22+ Million Active Duty = 1.4+ Million
MILITARY WARRIORS FOUNDATION Wounded Warriors OEF, OIF, ND = 51,849
OPER ATION HOMEFRONT Active Dut y Family of E1 - E6 = 1.1 Million
WOUNDED WARRIOR PROJECT Wounded Warriors OEF, OIF, ND = 51,849
USA CARES Post 9/11 Servicemembers & Family
Financial Assistance
X
X
Emergency Food
X
X
Emergency Home Repair
X
X
Critical Baby Items
X
X
Home and Appliance Repair
X
Furniture and Household Items
X
Local Moving Assistance
X
Apartment Transitional Housing
X
X
Permanent Housing Placement
X
X
Employment Job Board
X
Rehabilitation with Recreational Therapy
X
X
X
X
Peer-to-Peer Counseling
X
Family Support Retreats
X
Peer Mentoring
X
Information Technology Training Academy
X
Financial Literacy Education
X
VA Home Loan Program Education
X
Housing Education
X
Housing Counseling
X
Credit and Debt Management Education
X
Credit and Debt Management Counseling
X
Military and Veteran First Look Affordable Housing Purchase Program
X
Mortgage Free Donated Homes for Wounded Warrior and Spouses of Deceased Warriors
X
X
X
X
X
Community Outreach
X
X
X
Live Community Housing, Financial Literacy, and Employment Fair Outreach Events
X
REALTOR, Housing Professional, and Lender Military and Veteran Certification Course
X
Military and Veteran Friendly Database
X
Advocate with a Written Policy Plan
X Military and Veteran Housing Lending Policy
Housing and Lending Policy Conference
X
Military and Veteran Financial Literacy, Housing, and Employment Resource Center
X
X
X
X Wounded Warriors
NOTE: The no n-profit comparison chart does not list the national minority real estate trade organizations including AREAA, NAHREP, and NAREB because we are not structurally set up as a trade organization. We have our membership whom we educate to better serve the military housing needs, but ultimately we are all here to serve the military and veteran communities.
3
May 2020 TA B LE O F CO N T E N T S
VAREP Webinar Series..................................4 VAREP Chapter Map....................................6 A Word from The Association Director..........9 SDP Committee Update..............................12 Housing Counseling Help During The COVID-19 Crisis...........................................14 Working With Housing Counseling...............15
VAREP will be having live webinars all throughout the year. Tune in and listen live to our representatives talk about current Military and Veteran-related topics addressing homeownership!
Legislative Corner.......................................18
WEBINAR REVIEWS
VAREP Faces in the Crowd............................................25
2020 NATIONAL EVENTS
POLICY CONFERENCE JUNE 15, 2020 10AM - 1:30PM PST VIRTUALLY VIA ZOOM
Did you find today’s VARAP presentation with Freddie Mac to be helpful?
What content from Freddie Mac would you like to see covered in the future?
What content from VAREP would you like to see covered?
Yes, great information. A lot of things that I did not know were available.
How bad is the housing side doing in terms of owners unable to pay their mortgages during this period.
Programs available to help our veterans during this crisis.
VAREP San Antonio, TX
VAREP Fresno, CA
VAREP San Antonio, TX
REGISTER TODAY! CLICK HERE TUNE IN TO OUR UPCOMING SCHEDULED WEBINARS
May 6 @ 11:00 a.m. PST VA Loan Appraisal Changes Due to COVID19
NATIONAL CONVENTION OCTOBER 25 - 27, 2020 SAN ANTONIO, TX GRAND HYATT SAN ANTONIO
REGISTER TODAY! HTTPS://VAREP.NET/CONVENTION/
May 13 @ 10:00 a.m. PST Freddie Mac (TBD)
May 27 @ 10:00 a.m. PST Freddie Mac (TBD)
E! AT ED TH VE SA JUNE 15, 2020 · 10AM - 1:30PM PST
The conference is filled with online educational sessions and town halls to educate attendees on important housing policy, lending initiatives, and economic development affecting the military and veteran communities.
ZOOM ONLINE VIRTUALLY STREAMED CONFERENCE
SEE YOU SOON! CLI CK HERE TO REGIS TER
5
VAREP CURRENTLY HAS
41 CHAPTERS LOCATED IN 21 STATES ACROSS THE UNITED STATES
ACTIVE CHAPTERS
Arkansas
Kentucky
VAREP River Valley Chapter - Founded on September 18, 2018
VAREP Louisville Chapter - Founded on June 14, 2018
Arizona
Maryland
VAREP Phoenix Chapter - Founded on September 3, 2013 VAREP Prescott Chapter - Founded on June 27, 2019 VAREP Tucson Chapter - Founded on January 28, 2015
VAREP Annapolis Chapter - Founded on August 23, 2018
California VAREP East Bay Area Chapter - Founded on August 24, 2017 VAREP Fresno Chapter - Founded on January 30, 2019 VAREP Los Angeles Chapter - Founded on April 23, 2014 VAREP Orange County Chapter - Founded on March 11, 2013 VAREP Riverside Chapter - Founded on June 17, 2013 VAREP Sacramento Chapter - Founded on June 4, 2013 VAREP San Bernardino Chapter- Founded on August 14, 2014 VAREP San Diego Chapter - Founded on July 29, 2013 VAREP Yuba-Sutter Chapter - Founded on January 11, 2018
Colorado VAREP Denver Chapter - Founded on August 14, 2014
Florida VAREP Broward Chapter - Founded on July 15, 2015 VAREP Central Florida Chapter - Founded on April 14, 2015 VAREP Miami Chapter - Founded on July 13, 2015 VAREP Pinellas County Chapter - Founded on December 3, 2015 VAREP Treasure Coast Chapter - Founded on June 30, 2017
Georgia VAREP Atlanta Chapter - Founded on January 22, 2019
Hawaii VAREP Honolulu Chapter - Founded on April 04, 2014
Idaho VAREP Treasure Valley Chapter - Founded on May 17, 2018
Illinois VAREP Chicago Chapter - Founded on June 21, 2016
Iowa VAREP Des Moines - Founded on October 3, 2017 6
Minnesota VAREP Twin Cities Chapter - Founded on March 11, 2018
Missouri VAREP St Louis Chapter - Founded on March 10, 2017
Nevada VAREP Las Vegas Chapter - Founded on August 30, 2013 VAREP Northern Nevada Chapter - Founded on March 4, 2015
Oklahoma VAREP River Valley Chapter - Founded on January 1, 2018
Oregon VAREP Central Oregon Chapter - Founded on February 12, 2019
Texas VAREP DFW Chapter - Founded on December, 2015 VAREP El Paso Chapter - Founded on April 6, 2017 VAREP Houston Chapter - Founded on March 30, 2015 VAREP New Braunfels Chapter - Founded on August 8, 2018 VAREP San Antonio Chapter - Founded on December 10, 2013
Virginia VAREP Hampton Roads Chapter - Founded on September 5, 2018 VAREP Northern Virginia Chapter - Founded on May 30, 2018
Washington VAREP Tacoma South Sound Chapter - Founded on December 15, 2014
Washington D.C. VAREP D.C. Metropolitan Area Chapter - Founded on June 11, 2014
Alaska
28 CHAPTERS IN FORMATION
VAREP Anchorage Chapter - Coming 2020
Arizona VAREP Kingman Chapter- Coming 2020
California VAREP Modesto Chapter - Coming 2020 VAREP Oceanside Chapter - Coming 2020 VAREP San Gabriel Chapter - Coming 2020 VAREP Solono County Chapter - Coming 2020
Colorado VAREP Denver Chapter - Coming 2020
Florida VAREP Jacksonville Chapter - Coming 2020 VAREP Pensacola Chapter - Coming 2020
Georgia VAREP Augusta Chapter - Coming 2020
GUAM
New York
VAREP Guam Chapter - Coming 2020
VAREP New York City Chapter - Coming 2020
INDIANA
Oregon
VAREP Hamilton County Chapter - Coming 2020
VAREP Portland Chapter - Coming 2020
Maryland VAREP Southern Maryland - Coming 2020 VAREP Baltimore Chapter - Coming 2020
Massachusetts VAREP Boston Chapter - Coming 2020
Nevada VAREP Carson City Chapter - Coming 2020 VAREP Elko Chapter - Coming 2020
New Jersey VAREP North New Jersey Chapter - Coming 2020 VAREP South New Jersey Chapter - Coming 2020
Pennsylvania VAREP Montgomery County Chapter - Coming 2020 VAREP Philadelphia Chapter - Coming 2020 VAREP Pittsburgh Chapter - Coming 2020
Puerto Rico VAREP Puerto Rico Chapter - Coming 2020
Tennessee VAREP Nashville Chapter - Coming 2020
Washington VAREP Bremerton Chapter - Coming 2020 VAREP Vancouver Chapter - Coming 2020
7
E T A D E H T E V SA
S A N A N T O N I O , T X - O C T O B E R 2 5 - 2 7, 2 0 2 0
The 2020 VAREP National Convention will educate, develop, and empower current and future leaders within the VAREP organization. The National Convention equips VAREP leaders with the necessary tools to serve the military and veteran housing needs.
8
SEE YOU IN SAN ANTONIO! varep.n et /convention
A Word from the
Association Director Carla Lemon COVID-19 is the one thing all people have in
Counseling Program, National & Chapter Education
common right now. Around the world every person
Programs and the Chapter VAREP Cares Initiatives
has a constant eye watching the development of
were designed from the heart of service to reach out
the coronavirus pandemic with uncertainty and
with a hand up.
serious concern, while at the same time -- on a daily basis, trying to find a way to move forward
We have the opportunity to shine through the heart
safely and efficiently.
of these programs and guide our Active Military and Veteran communities through the maze of
On behalf of VAREP National Founder Son Nguyen,
homeownership information during the unexpected
Co-Founder Dustin Luce and the VAREP staff want
impact on their personal lives. These free programs
you to know that your, and your families’, well-being
provide hope and guidance to the community as we
is most important to us.
move through lasting impacts of the Coronavirus.
As is customary for the Real Estate Industry, change
We face this together, as a team across the country.
is a constant and COVID-19 is one more change to
We applaud all of the VAREP Chapter directors,
the way we do business in 2020. As we all adapt to
volunteers, members and our sponsors who keep our
the tools of virtual meetings and webinars we also
Active Military and Veterans in their hearts of service.
learn this allows us to cast a wider net to further the
The combined efforts of our volunteers at the local level
mission reach.
shows the continued need to be available at just the right moment to assist “One Veteran At A Time”.
VAREP has expanded its virtual platform to ensure full operation of the organization. By enhancing
Sincerely,
our systems and updating educational materials that impact homeownership moving forward, the VAREP Chapters will have new tools and information relevant to the current changes. VAREP’s HUD
Carla Lemon Association Director 9
House-A-Vet Program: Home Donations During COVID 19
Well, like the rest of the world, our March and April did not go as expected. The HAV donation team was scheduled to donate 2 mortgage-free homes in Michigan, and New York. With Stay-At-Home orders in place, we were not able to do our “usual” home donation ceremony, but we still got 2 veterans into their new homes.
Photo of David Lindsay in front of his new home
Mr. Lindsay isn’t the typical House-A-Vet candidate. He is a walking example of someone who refuses to quit. He is in need of a “handup”, and receiving this mor tgage-free home will be just that. Over the next 3-4 years, David will work closely with our HUD cer tified housing
David Lindsay – Saginaw, MI
counselor to pay off his debts, and focus on healing. The road ahead is not smooth by any
David Lindsay served in the US Army for a
means, but with this hand-up and his hard work
total of 8 years. He fought in Deser t Storm
ethic, we know David is going to succeed.
and Deser t Shield as an Infantr yman with the 197th Infantr y Brigade.
David was able to move into his newly remodeled home on Saturday April 4, 2020. VAREP purchased
As a result of injuries received during combat,
some household items for him so that it would feel
David was medically discharged from the Army
a bit more like a “home”.
in 1992.
10
Photo of Maverick and his service dog, Rocky IV in front of their new home Maverick Kendrick – Pine Bush, NY
Maverick has never considered himself a lucky man, but being chosen to receive this mortgage-
Specialist Maverick Kendrick served in the US
free home has given him hope for a new purpose in
Navy for 5 years. He served overseas for all 5
his life. He says he is looking forward to building a
years, including a deployment to Afghanistan
solid foundation for a bright future.
for 14 months with an Army combat unit. While in Afghanistan, Maverick sustained injuries
Maverick moved out of the big city and into his
to his neck and spine when his convoy was
freshly updated home in Pine Bush, NY on April
caught in an ambush. In spite of his injuries,
9th. We made sure he had a few creature comforts
he still considers his militar y experience some
waiting for him to help him get settled in.
of the best times in his life. Adjusting to civilian life hasn’t been easy for Maverick. Physical limitations make it difficult to sustain employment. Even after 10 years
We will follow up with these veterans, and get interviews when it’s safe to do so. In the meantime, we thank you for your continued support.
out of the service, he still faces challenges on
Keep sharing these stories, so we can continue to make the American Dream of Homeownership a
a daily basis. His saving grace is his service
reality for our deserving heroes!
dog, Rocky IV.
11
Stop Drop and Push Committee Update Your National SDP Committee has been busy updating website and Social Media content with the help of our awesome Graphics and IT Departments. Please like and share our Facebook page, follow us on Instagram, and encourage folks to view our success stories and donate to the SDP Campaign at StopDropPush.org During this time of uncertainty, and “social distancing”, it’s important that our veterans know we are here for them. Let’s all make a conscious effort to reach out to our vets on a regular basis. Whether it’s posting a “Buddy Check” on social media, or making phone calls – let’s make sure our heroes know we’ve got their six! The VA has published some great content and resources for veterans as it relates to COVID-19, please share this link with any and all veterans you know. https://www.publichealth.va.gov/n-coronavirus/ With so much focus on physical health, we have to remember it’s equally important to stay MENTALLY healthy – without a healthy brain, it’s impossible to have a healthy body. Let’s continue our mission to promote veteran stability, especially during this period of unprecedented isolation and fear. Onward,
Tori Sydow
SDP Program Director 12
Tips on Managing Stress and Anxiety
1.
2.
Exercise regularly, try to eat well-balanced meals, and get plenty of sleep.
Stay connected with others while practicing social distancing.
4.
5.
Limit alcohol.
Participate in activities or hobbies that you enjoy, or learn a new one.
6.
7.
Practice breathing exercises and/or meditation. VA has many free mental health apps for Veterans.
8. Take breaks from the news.
Keep your current mental health appointments. VA offers both video and phone telemental health options that do not require you to go to your closest facility in-person should you have a medical concern or need to follow specific social distancing guidelines in your community.
3. Learn ways to connect with VA providers using telehealth options and schedule or reschedule your appointment online. If you are requesting a new mental health appointment, please call your local VA and they will work to arrange an appointment for you. If you need same day access for mental health services, call your local VA to request this and you will be connected to care.
Find these and other helpful tips on managing stress and anxiety at mentalhealth.va.gov/ coronavirus/
13
HOUSING COUNSELING HELP DURING THE COVID-19 CRISIS We hope our VAREP family members are healthy and safe during these challenging times! As we all know, COVID-19 is not only a threat to our health, but for most of us and our clients, it is also impacting us financially. We hope you and your family members are healthy and continue to stay well during this unprecedented and challenging times. Recently our Housing Counseling Department put together and hosted an Online Workshop “Housing Counseling Helping Our Communities” for VAREP members to educate on how our housing counseling department can assist you and your clients during these unprecedented times. As a member of VAREP, we all want to be of service and help our communities. We hosted this workshop to remind our members that our HUD Housing Counseling Services are here to assist our Veterans, Active Military Members, patriots and our communities with their credit and housing needs. This includes helping with creating a sticking to a sustainable budget, working out payment plans with creditors, and managing debts. We are also working with our lender partners to get the latest information on the CARES Act and various forbearance plans, loan modification and loan workouts for those who may have experienced income reduction or loss. Many lenders and creditors have announced new programs to suspended payments, foreclosures and evictions. We are here to assist during this unprecedented time and we continue to be available to provide these services throughout the county via phone and internet counseling. We encourage you to help us be the boots on the ground to spread the word that we are here and continue to help by providing the following services: •Budgeting & Financial Management •Credit Improvement & Debt Reduction and Management •Homebuying, Down Payment Programs and First Time Buyer Loans •VA Loans & Certificate of Eligibility •HUD Home Buyer Certificates – Ehome America Online & Individual Counseling •Foreclosure Prevention, Loan Modification, and Forbearance Plans We recorded the Housing Counseling Helping Our Communities webinar, so if you missed it or want to share it with others, please view it here: https://vimeo.com/402609698/fe826bdd17 We encourage you to refer your clients who need help to call us at 888-273-7267, or email Veronica Ramirez, our Administrative Assistant, at vramirez@varep.net. You can also visit www.MyHomeownership.org or www.VetHomeOwnership.com for intake forms, more information and success stories. In the next few weeks, we will be launching another new online Workshop, “Mortgage Help During the COVID-19 Crisis” which will offer an opportunity to learn about the mortgage relief programs that are available, how to apply and programs to help during this crisis. We encourage our members to get the facts and help our clients get prepared before speaking to their mortgage lender. Look for this workshop invite coming soon! Stay well and let’s do our best to help and stay healthy during these challenging times.
14
Our Housing Counseling Department is Here to Help You and Your Clients! USA Homeownership Foundation’s Housing Counseling Program is a no cost service open to Service Members and Veterans throughout the United States. Our HUD Housing Counseling Department is based out of VAREP’s Nation headquarters is in Corona but open to any Veteran, Service Member or Patriot living in the United States. Our Housing Counseling Program currently offers prepurchase, home buyer counseling, financial capability, credit and budget counseling, foreclosure prevention and post purchase counseling. If Veterans or Service Members need help accessing their VA Loan Benefits or Certificate of Eligibility, Thomas Griffin, our HUD Housing Counselor who is also a US Marine Veteran can assist them. We’ve successfully assisted over 500 clients this year alone with credit improvement, budgeting, homeownership and foreclosure prevention. Have a client whose credit needs work before buying a home, send them over to our Housing Counseling Department. Check out a few of our success stories on our website at:
GETTING HELP FOR YOUR CLIENTS IS AS EASY AS 1, 2, 3
1. Contact Contact our Housing Counseling Department by visiting our website at www.VetHomeOwnership.com and download the client intake forms.
2. Call Call our toll free number 888. 273.7267
3. Email Email your request to Veronica Ramirez, Housing Counseling Administrative Assistant, at vramirez@varep.net.
https://vethomeownership.com/index.php/successes/video-library 15
5 indicators that will show when the housing market is rebounding from COVID-19 April 7, 2020 By Logan Mohtashami for Housing Wire
These are dark times. But even in dark times, we are preternaturally
timeline is possible because we are growing our testing capacity, and
prepared to see the end of the tunnel. If we are diligent, we will be
the two most populous states issue stay-at-home orders in March, and
able to identify the return of hope and light coming back into the
others have since followed. It is from this data that I have based my
American economy. While no one could truly know when we’ll see
virus turnaround thesis, which is that by May 18 or sooner, we will see
the end of the coronavirus, we can at least know what signs to look
a flattening of the new infection curve, and by September 1, we will be
for that the housing market is on the rebound. With that, here is a
at a much higher capacity to fight this virus.
guide to the five indicators that the period of AD (After Disease) is abating, and the era of AB (America is Back) is emerging.
1. Flattened Curve The first, and in fact, a prerequisite event that will indicate that the economy will come out of this tunnel is the turning of the number of new cases of infection from positive to flat or negative. In the Wuhan Province, with the strictest lockdown measures ever enforced,
“When credit stress and jobless claims start to fall, you can believe we are on the road to recovery.�
it took two months for the trajectory of new cases to level off. Furthermore, there was a span of three months from the first cases
2. End of Stay-at-Home Orders
in December until March 19 when it was reported* that there were
The second and also prerequisite indicator that the economy will
no new local infections. (*Questionable data noted)
be getting back on track is the lifting of stay-at-home orders. Remember that the economic data from January to February was
If we consider the China trajectory to be the best-case scenario
robust. Job growth in those two months was running at a combined
(Noting questionable data) and apply those timelines to the U.S.,
average of 244,500 per month, well above my own 2020 forecast
then we should see the path in new cases flatten by mid to late April
range. Retail sales were growing year over year, and even a few of
for states that first issued stay-at-home orders. These states should
the regional manufacturing data lines were trending positive.
have fewer new cases by mid-May. I think this seemingly ambitious 16
As I have mentioned previously, housing data was on fire with
On March 9, we got as low as 0.32% on the 10-year yield, but on
cycle highs in purchase applications, new home sales and existing
March 12, 22 days after 1.56% print on the 10-year yield, the jobless
home sales. Even housing starts showed almost 40% growth year
claims were still positive, near all-time lows.
over year in the last report. In the days of BC (Before Coronavirus), the economy wasn’t going into recession in 2020. However, the
But we all knew what was coming on that day, massive layoffs, as
stay-at-home orders that most of the country is now following have
it was also the first day the U.S. government banned gatherings
basically shut off the economy. Turning that massive machine back
of more than 50 people. Before the 10-year yield broke under 1%,
on once the protocols are removed will take time, so be patient.
Bankrate.com published my forecast for where I believe recession
We have sustained a lot of economic damage in a matter of weeks.
yields would be: in the range of -0.21% to 0.62% on the 10-year
Catastrophic loss can be nearly instantaneous, while rebuilding is
yield. That following Monday, on March 9, bond yields dropped to as
a slow and steady process.
low as 0.32%. We had a massive sell-off in bonds, not because the economy was getting better but because some traders took profits,
3. 10-Year Yield Goes Above 1%
and others had to liquidate assets, which forced yields back to
Dramatic changes in the bond markets were the harbingers
1.25%. The fact that the 10-year yield is at 0.73% while I am
of our oncoming economic decline and will be the beacons for
writing this tells me that the markets believe that Q3 and Q4 will
our recovery. In many ways, we are experiencing an artificially
be better than Q2, which is using the lowest bar in recent history to
induced recession, so we were unable to rely on the usual early
work from.
indications to predict the economic crash. In 2006, we had many data lines that were warning us about the economy. The
An early indicator of recovery would see the 10-year yield above 1%
effect of this virus and lockdown protocols on our economy is
–– especially if it got above 1.33%. A range between 1.33% and
nothing short of an act of war hitting the country quickly.
1.6% on the 10-year yield is something we should be rooting for, especially if this happens without liquidation selling of bonds. Once
On January 20, the first positive test for the coronavirus was
you get to these levels, know that it’s a good thing.
reported in the U.S. A month later, the 10-year yield was 1.56%. In all my yearly prediction articles since the end of 2014, I always
4. Decline in Credit Stress and Jobless Claims
talked about how the 10-year yield should be in the range between
When credit stress and jobless claims start to fall, you can believe
1.6% -3%. The bond markets correctly and with great speed reflected
we are on the road to recovery. Before COVID-19, jobless claims
the oncoming crash of the economy.
and the Financial Stress Indices were basically at all-time lows. (As seen in graph 1.) 17
(Graph 1)
In the last expansion, declines in credit stress as measured by the
5. Data from the hardest-hit sectors starts to trend upward
St. Louis Fed Financial Stress Index (see graph 2)
Some of the hardest-hit business sectors will show recovery first because the declines have been so horrific. The restaurant industry,
18
and in weekly jobless claims were discounted as indicators of an
airlines, hotels, movie tickets, rideshares and gasoline purchases
improving economy. To track economic recovery, these weekly data
are some areas to watch. As more people walk the earth, go to work
lines are going to be even more important to follow than monthly
and get back to normal, these beaten-down industries will be some
data like leading economic indicators and housing starts.This is
of the first to pick up.
the opposite of a so-called “normal recession,” when monthly
For housing, purchase applications –– which showed double-digit
indicators would be the ones to watch because they are more
year-over-year growth all the way to March 18 –– had back-to-back
indicative of trends and less subject to statistical vagaries. In this
negative, year-over-year prints of 11% and 24% for the last two weeks.
recession, however, the monthly data is too slow to capture the day
We are likely to see much deeper year-over-year declines in the coming
to day shifts in the economy. A good example is that the recent jobs
weeks as more states follow stay-at-home protocols. You will see a
number showed a loss of 701,000 jobs where the next report could
reversal of these negative year-over-year trends as one of the first
show a report of over 15,000,000 jobs being lost.
indicators for housing.
(Graph 2)
“My faith in America winning has never let me down because I always believe in my people and country.”
I believe the months of April and May are going to tell an epic story of America’s start in defeating this virus. If we do this right and document the cause and effect of our efforts, future generations will be able to look to this period in time for how to handle a global pandemic.
My faith in America winning has never let me down because I always believe in my people and country. I can tell you now, this virus isn’t changing my view on that. Before that reality is more common for a lot of Americans, bond yields will have headed higher while jobless claims and the St. Louis Financial Stress
Fiscal and monetary government disaster relief will speed
Index have already gone lower. Let’s all be here to see it. Until
this along. Unlike the Great Depression of the 1920s, we have
then, stay separate and safe, my friends, and keep your eyes
many more social safety nets, not to mention the government
open for those small rays of hope.
disaster relief of $6 trillion, to help speed the recovery. Don’t be surprised if the government disaster aid goes above $10 trillion, with more money for people, states and small businesses when it’s all said and done.
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THE PATH TO SUSTAINABLE HOMEOWNERSHIP VAREP’s Housing Counseling Department is a HUD Approved Housing Counseling Agency providing home buying, credit, budget, post purchase and foreclosure prevention counseling services to Veterans, Active Military and the community nationwide. Over the past year, from January to December 2018, we provided the following housing counseling services:
2020 COUNSELING & OUTREACH STATISTICS
416
306 84 222
GROUP WORKSHOP PARTICIPANTS FROM VHS CHAPTER EVENTS
INQUIRIES FOR SERVICES
CLIENTS COUNSELED
1 ON 1 HOUSING COUNSELING CLIENTS
TYPES OF COUNSELING PROVIDED
124 27
PRE-PURCHASE HOMEOWNERSHIP
20
POST PURCHASE
29
FORECLOSURE PREVENTION
16
FINANCIAL HOMEOWNERSHIP SUSTAINABILITY COUNSELING
26
CREDIT COUNSELING
VISIT W W W.VE THOMEOW NERSHIP.COM OR CALL : 8 8 8. 27 3.72 6 7
5,500 LMI HOUSING INQUIRIES INTERNET, TELEPHONE & COMMUNITY EVENTS
1,500 LMI FAMILIES RECEIVED PRE-PURCHASE, CREDIT & HOUSING COUNSELING
850 VETERAN FAMILIES SUCCESSFULLY PLACED IN HOMES THROUGH OUR PROGRAMS
350 VETERANS WERE REFERRED TO HUD VASH PROGRAM
600 VETERANS ENGAGED IN CREDIT COUNSELING TO IMPROVE FINANCIAL READINESS
3,100 VETERANS & SERVICEMEMBERS
* Statistics from 2014-2020
EDUCATED ON VA HOME LOAN BENEFIT, IMPORTANCE OF GOOD CREDIT & HOME BUYING PROCESS THROUGH COUNSELING & OUTREACH EVENTS
VISIT W W W.VE THOMEOW NERSHIP.COM OR CALL : 8 8 8. 27 3.72 6 7
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WE ARE BLESSED TO HAVE K NOWN YOU. The VAREP family celebrates the life of a good man, husband, father, grandfather, servant of God, Navy veteran & selfless veteran advocate. Robert’s kindness, smile, laughter and legacy will continue to shine in all of our hearts.
“I will always treasure Robert’s huge smile and laugh, but mostly his enormous heart for those he loved and served. Robert was a champion for all veterans, and the army of VAREPers to get our vision and mission out! You are going to be missed very much Robert but never forgotten.” - Jamie Garrett
“Very hard to hear about Robert’s untimely passing. As Navy brethren, we connected right away at my first VAREP Policy Conference and I looked forward to seeing him at every event. Full of life, he brought joy to all who ever interacted with him. You will be missed greatly - Fair winds and Following Seas. We have the watch Senior Chief.” - Eric Gardner
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“You helped me with my special programs package and turned my life around when I needed help the most. Because of your leadership in San Diego all those years ago I was able to accomplish my dreams and guide others to do the same. YOU are the hero and always will be.” - Ryan Jarvis
“I am gutted - a marvelous man and energetic optimist whose bighearted smile brightened any room he entered. May his family be comforted at this terrible time by his beautiful spirit powered by his inspiring faith and sincere kindness.” - Leslie Kilpatrick
“In Cincinnati Ohio in 1992 Robert Calloway was my recruiter and put me in the Navy. Years had passed before I was able to graciously thank him for changing my life. He was a great person, who genuinely cared about people. RIP Brother. Condolences to his family and friends.” - Latrice Henry
“I have such incredible memories serving along side you. Lot’s of laughs and much respect my friend. I am so sad to hear of your passing. My heart and prayers go out to the entire family.” - Amy Scruggs
“Thank you Senior Chief for everything you did for VAREP and the Vets around you. I was an honor to know you. Fair winds and following seas my friend.” - William Process
CLICK HERE TO VIEW TRIBUTE VIDEO 23
LEGISLATIVE CORNER “To maintain the momentum from the Policy Conference, I have appointed G-II Varrato, AZ State Director; Yeimalis Acevedo-Rasmussen, National Board of Director; William Process, Former Northern Nevada Chapter President; Gary Johnson, Former VAREP Sacramento Chapter President; Robbie Grossman, VAREP Twin Cities Vice-President; and Jeff Wilson, to form VAREP’s National Legislative Committee (NLC). The NLC’s task is to do the background and heavy-lifting work necessary to move our mission and the bill forward.” - Son Nguyen, VAREP Founder & President
G-II Varrato II U.S. Air Force
William Process
Lynn Jabs
Patriot
U.S. Navy
Patriot
Legislative Committee
Legislative Committee
Carol Meyers
Arizona State Director Legislative Committee Chairman
National Board of Director Legislative Committee
Gary Johnson
Robbie Grossman
Jim Shields
Legislative Committee
Legislative Committee
U.S. Air Force U.S. Coast Guard Legislative Committee
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Yeimalis Acevedo-Rasmussen
Patriot
U.S. Navy
Patriot Legislative Committee
VAREP’S NOTABLE FOOTPRINTS ON CAPITOL HILL As we all get our arms and heads around a ‘New Normal’ that is a result of how the world works through the challenges of COVID-19 aka The CornoaVirus, the landscape of legislative advocacy has also taken on an entirely different way of undertaking our mission. All of our GADs (Government Affairs Directors) continue to do yeoman’s work, keeping up their Bi-monthly outreach to campaigns to Congress, at the local and Washington DC level moving forward. Recall in the last publication of “Roger That” in February 2020, I noted that our trips to the HILL would put an exclamation point on all of the pre-legwork accomplished by the GADs. What none of us knew just 60 days ago, was that the CoronaVirus was already anchored in nearly every corner of the United States. I was poised to take a trip, in March, to Washington DC with Son, Dustin and Robbie Grossman to set up the June Policy Conference and lay the legislative ground work for the in-person meetings our GADs would complete in June. That trip did not take place and plans to visit the HILL began to take on a new dimension. Enter the 1st ever Virtual Policy Conference. NEW CONGRESSIONAL ASSIGNMENTS This year, the 2020 Policy Conference being a Virtual Policy Conference, will actually improve the VAREP GADs opportunity to meet with their assigned congressional offices, VIRTUALLY. Each of the GADs NLC POC (National Legislative Committee Point Of Contact) was assigned a number of House and Senate members to interact with. Many of them are outside of your geographic sphere in terms of ‘drive time’. Because the GAD’s interaction with each Washington DC Office Staffer will be by phone or video conference, the opportunity to actually connect with the assigned Senator or Congressman/woman may well improve exponentially. GADs will still be responsible for making personal contact with the staffer in each office who has the veteran’s agenda and/or the particular legislative discipline for the particular pieces of legislation that is the topic of discussion at the time of that interaction, but this time the GADs will be setting up conference calls over the period of 30 days, thus having a greater chance of actually meeting with the legislator. Log in to https://bit.ly/CongressionalStafferLookUp and simply click on the state assigned to the Chapter. Then simply click on the link by the legislator’s name and BOOM you have access to the Chief of Staff, Scheduler, Legislative Director and Press Secretary. The eMail syntax is very simple. For the Senate use first_last@ Senator’sLastName.senate.gov and for the House use first.last@Mail.House.Gov.
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LEGISLATIVE CORNER THE URLA BATTLE LINES ARE STILL IN PLACE Recall that FHFA had directed the GSEs to make specific modifications to the URLA form and it turned out that there were dozens of changes made/proposed to the revised URLA, most importantly was the fact that VAREP learned, on October 23rd 2019, that FHFA Director Mark Calabria’s team moved the hard fight for “Military Question” from Page 1 of the URLA to a place on the URLA that was below the Acknowledgments and Agreements signature block. Recall that we were waiting for a letter from FHFA Director Calabria in response to the letters he received from the House of Representatives and the United States Senate asking him to explain why he moved the “Military Question” to a place below the signature line on the URLA. In late February, VAREP NLC Director Calabria’s response. In general the response from FHF a was confusing, conflated and mostly inconsistent with of a full throated acknowledgment that relocating the “Military Question” to the bottom of the form below the signature line had any merit. Director Calabria stated in his letter that he planned to launch a test. Of the form in March 2020 and that he expected the form to be implemented by all lenders by September 2020. The VAREP NLC Chair and Co-Chairs presented lives the United States Senate to try and head off the implementation of this very poor and damaging action by FHFA. Our goal is to try and get the “Military Question” relocated back to the first page of the URLA with simple administrative actions. However as I mentioned in my last report we have a piece of legislation that will force the director to make this correction. Senator Rosen (D-NV) introduced and with Co-Introducer Senator McSally (R-AZ) legislation (S.2835 Access to Affordable Housing for Veterans Act of 2019) that would mandate the relocation of the “Military Question” above the Acknowledgments and Agreements signature block. Additionally Senator Kyrsten Sinema is working on legislation that will require the lenders to provide written disclosure of the difference between an FHA loan versus a Conventional loan versus a VA loan. Bill will amend the Informed Consumer Choice Disclosure in the National Housing Act, thus requiring by law that a written disclosure of difference between a VA loan and other loan options be provided to an applicant when applying for a home mortgage. BECOMING A CHARTERED VSO (VETERAN SERVICE ORGANIZATION) - A DIFFERENT STRATEGY This year’s Policy Position will define our mission gained support from members of Congress to help VAREP become a chartered VSO. The last VSO that was ever chartered by Congress was the military officers Association of America and was granted charter in 2009.
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The GADs given guidance as to how to approach their assigned legislative leaders to support and advocate for this very important VSO. Given the fact that the last VSO was granted in 2009, prior to that charter, VSOs had not been chartered since 1992. Most of the staffers the GADs will interact with barely 5 years old when that VSO was
chartered in 1992. These staffers have never had any reason to interact with anybody about a new Veteran Service Organization. Nevertheless a primary mission to get VAREP chartered as a VSO is mission number one for the foreseeable future. UPDATE ON THE FIGHT FOR ADDING VETERSANS TO FAIR HOUSING S.1986 / H.R.3516 Fair Housing Improvement Act of 2019
S.1986 was advanced, the day of introduction by Senator Tim Kaine, to the Senate Banking, Housing, and Urban Affairs and still has only one co-sponsor at the moment, Senator Jacky Rosen (D-NV). The house version, H.R.3516, is doing much better with nearly 20 cosponsors however there are no GOP members who have signed on to this piece of legislation. And though the main focus of the 2020 VAREP National Policy Conference policy position will be to advance our VSO agenda, included in our ask our elements consistent with the need to protect veterans in their real estate transactions. COVID-19 - THE WORLD HAS CHANGED AND SLOWED We are all aware that United States and in fact the world has come to a screeching halt due to devastating infection of the coronavirus. While Washington DC has not come to a screeching halt all non-coronavirus legislation is moving at a snail’s pace. Congressman and congresswomen and senators are all working from home to include their staffers. Markups to bills are being conducted in committee via Zoom. The only time in person votes on legislation has occurred, over the past 45 days, happened the third week of March 2020 when Congress had to pass additional funds for the SBA loans and other support elements of the U.S. economy. Congressional staffers are still working on other pieces of legislation but for all the obvious reasons the main focus of the United States Congress is to keep America financially afloat while we all work through the disruption caused by the coronavirus. For this reason it becomes ever more imperative that all of the GADs engage their assigned legislative offices with a fervor tenfold that of any previous engagement. We must help Congress walk and chew gum at the same time. By that I mean not only devise legislation that will protect the U.S. economy and support every American who has been impacted by the coronavirus, but also advance legislation necessary to protect our military family. Stay Safe! Stay Healthy! And‌ keep your #SocialDistance #IAmVAREP G-II Varrato II is the VAREP National Legislative Committee Chair 27
PROMOTING VETERAN STABILITY TO PREVENT VETERAN SUICIDE WHO WE ARE The Stop, Drop and Push Campaign (SDPC) is part of the Veterans Association of Real Estate Professionals’ (VAREP) philanthropic platform of giving back (VAREP is a 501c.3 non-profit focused on housing for veterans). Although our focus may be on veteran housing, we cannot stand idle while our brothers and sisters are part of the 22 veteran suicide statistic.
HISTORY OF THE NUMBER 22
STOP, DROP & PUSH MISSION
In 2012 the Department of Veterans Affairs
To lower the 22 veteran lives lost each day
released a 59-page report outlining veter-
due to suicide by educating the public about
an suicide. The report states the numbers
veteran reintegration issues; connecting al-
of Veterans who die from suicide each day
ternative veteran therapy providers to those
has remained relatively stable over the
who need treatment; and provide the neces-
past 12 years (varying from 18 -22 per day).
sary funding to ensure treatment is possible so our heroes will rediscover purpose and lead productive lives.
ALTERNATIVE THERAPY Research has determined in addition to medication and traditional therapy, a holistic approach including alternatives therapies such as existential/transpersonal, animal-assisted psychotherapy and play therapy (examples include martial arts, fly fishing, mountain climbing and rafting) are important as part of the road to recovery for many veterans.
951-268-1517 | info@stopdroppush.org 28
w w w.S TOPDROPPUSH.org
FACES IN THE CROWD “Faces in the Crowd” is a handful of responses to an intriguing question... VAREP Members share their stories of all things VAREP related!
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WHAT IS UNIQUE ABOUT VAREP? VAREP - Northern Virginia Chapter Educating both the real estate community and our veteran clients about options and changes as well as grass roots improvement of policy/laws and charity involvement.
VAREP - East Bay, CA Chapter We are an organization that is all about the veteran and not about marketing ourselves. We are focused on Real Estate and Finance, but we can do so much more to positively change a Veterans situation with our education and VAREP Cares Events.
VAREP - Tucson, AZ Chapter Only 501(c)(3) that educates Veterans on financial literacy. Training the real estate community regarding myths of the VA loan .
VAREP - San Antonio, TX Chapter Reputable organization for outreach to our military and veteran families.
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VAREP - Miami, FL Chapter The mission of educating veterans about their VA Benefits as it relates to real estate. In addition to helping veterans get out of homelessness.
VAREP - Louisville, KY Chapter Focus on education of the veteran and real estate professionals combined with a “hand up� to veterans in our local community.
VAREP - River Valley, AR Chapter Our mission and our local outreach. having a 8 person local board really brings the experience local.
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WHY DO YOU GIVE YOUR MONEY, TIME, OR ENERGY TO VAREP AND IT’S MISSION? VAREP - Orange County, CA Chapter They are so many homeless vets in our country. I really feel of all the homeless in this country our Vetrans should be helped first.
VAREP - Twin Cities Chapter I’ve always been involved in some type of community outreach. I strongly believe in having a well balance business balance and that includes “Giving Back” Why VAREP? It is the least I can do for Men and Women who put their lives at risk, leave their family behind, and sacrifice their future so that I can live my life.
VAREP - Annapolis, MD Chapter I have a burden on my heart to make America a better place for the Veterans. No Veteran should ever be homeless or living on the streets. I am VAREP because this organization solves the problems facing Veterans at the Condition and Cause level. The VAREP approach is unique in this manner of issue solution.
VAREP - El Paso, TX Chapter I am a retired military Veteran and not only to I want to support other military members and Veterans, but I wish that I had had the opportunity to attend training like this before I purchased a home.
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VAREP - Tacoma, WA Chapter For me, it’s the right thing to do. The organization is missionoriented, focused, and getting positive results. As a retiree, I can’t ask for more than that.
VAREP - San Bernsrdino, CA Chapter I do because I believe in the cause, one veteran at a time. I wish we could help everyone, but we can’t, but if we can just help one veteran at a time I think our efforts are now worth it.
VAREP - Treasure Coast, FL Chapter Because my husband is a veteran and he is another story of someone who served for ten years but knew nothing about purchasing a home once he was done serving and was very at a loss out there in the civilian world. He was not sure who to trust for the correct information.
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WHAT WOULD GO UNDONE IF VAREP CLOSED TOMORROW? VAREP - SoCal State Director The education and advocay would no longer be availble to the real estate industry as well as the Veteran and Military Communities.
VAREP - Central Florida Chapter Veterans voices will not be heard or housed. The fact that they deserve so much more from us as a Nation even if we just did one thing we helped.
VAREP - Pinellas County, FL Chapter The access to the combined knowledge and experience of the real estate industry experts, focused on helping veterans. The information is much more available now than when I separated from the Air Force. However, the consolidation and distribution of applicable information is priceless. The opportunity to be that focal point for Veterans is invaluable.
VAREP - Sacramento, CA Chapter Less people would learn to take advantage of their VA loans.
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VAREP - Tacoma, WA Chapter Someone that really cares fighting for real change for our Veterans!
VAREP - El Paso, TX Chapter There is currently no other organization that provides education on the home buying process specifically tailored to military and Veterans. Also, there is no other program educating REALTORS and other industry professionals on the VA Loans and the specific needs of Veterans.
VAREP - St. Louis, MO Chapter The Real Estate community would continue to believe the myths of the VA guarantee loan program and our Veterans would be discriminated against. Our Veterans would have less of a voice in D.C. Veterans in each chapters community would miss out on all the unique things we each do for our Veterans. Someone else would benefit from the homes available that are giving away. Less would be accomplished for suicide prevention. It really goes on and on...
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“The willingness with which our young people are likely to serve in any war, no matter how justified, shall be directly proportional to how they perceive veterans of early wars were treated and appreciated by our nation.” - George Washington
VETERANS ASSOCIATION OF REAL ESTATE PROFESSIONALS info@VAREP.net
w w w . V A R E P. n e t
951- 444 -7363