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 Greg Bisi  Tuesday, February 7th, 2012  It seems like people are always looking for the good old days, a time that we remember things as being better, easier, less stressful, less complicated, more fun, more exciting. There was a time in the mortgage industry when mortgages were less difficult to complete. Loans required full documentation, but we only had to cross the T’s and dot the I’s. Of course, we also had to verify and document income, assets, and credit, and we had to make sure the income was verifiable, the assets were legitimate, and the credit made sense. It was also necessary to verify that the property being purchased was in decent shape and that the transaction was a legitimate one.
Today, there are definitely aspects of the mortgage business that have become much more challenging, but, honestly, we have never had so many tools at our disposal, such great prices in the housing market and so many options to make available to our clients. Our financial markets have been through the most difficult transition we’ve ever seen in modern times, but the end result is that we’ve all emerged stronger and more focused.
“Things ain’t what they used to be, and probably never was.”
–Will Rogers
I wish you and your family a happy and prosperous New Year.
Continue reading: THESE ARE THE “GOOD OLD DAYS”
Judy Wegener Wednesday, October 19th, 2011
 1. How long have you been a Member of SAR? I joined SAR in 2006, right after I got my Real Estate salesperson license. Now that I have my own company, Capital West Realty, being a member of SAR is more important than ever for me.
2. What did you do before you were [...]
Janelle Fallan Monday, October 17th, 2011
 The Sacramento Association of REALTORS® has renewed its partnership with the Sacramento Metropolitan Air Quality Management District (SMAQMD). SAR previously partnered with SMAQMD to distribute thousands of “Check Before You Burn” flyers to educate residents about approved burning days for wood stoves and fireplaces. This program was a great success in helping SMAQMD meet [...]
Scott Short Thursday, October 13th, 2011
 The subject of investor overlays has been coming up a lot lately. A different angle may clear up some misunderstandings.
REALTORS® and buyers often bring up agency guidelines as if they somehow dictate lending policy.
Most people look at this backwards. They think that the agencies like FHA, VA, Fannie Mae, and Freddie Mac set underwriting guidelines and then lenders layer additional rules on top of this. In reality it’s the opposite. Understanding the reality of this dynamic will go a long way toward understanding “investor overlays”.
None of the agencies listed above dictate lending policy to mortgage lenders. Mortgage lenders develop whatever policies they feel offer the greatest return, while best managing the risk of the loans they make. If a lender wants to do a 100% LTV mortgage for a homebuyer who is being foreclosed on right now and just completed their bankruptcy, they are allowed to do that even if that buyer doesn’t have a job and has federal tax liens. On the other end of the spectrum.If a lender decided that they are only going to do loans with a maximum loan to value of 50% to borrowers with 800 credit scores, they could also choose to do this. Lenders are free to set whatever standards and policies they choose to set, provided that they do not violate any other laws pertaining to things like discrimination.
So let’s look at the actual roles of the agencies. While lenders set their own policies regarding the level of risk in relation to the return they are looking for, they must ensure that they are meeting FHA’s minimum standards if they intend to have the loan insured by FHA. In other words, FHA does not set the underwriting guidelines, but only the minimum standards under which they’re willing to insure those loans. Lenders are free to choose to set a standard that exceeds the FHA minimum.
Continue reading: Maybe This Will Help
Doug Covill Thursday, October 6th, 2011
 When we talk about the value of your Membership at SAR, we usually focus on the tangible and intangible benefits. There are personal benefits, too.
Education, mediation, discounts on office supplies and political representation are just a few of the ways you benefit from your investment in SAR. If you want more detail, a complete list is at www.sacrealtor.org/benefits.
What is not on that list is personal benefits. For starters, every good business person really should give back to their industry and give back to their community. When you do, it makes you a better person. It also makes you a better REALTOR®.
The more we get out and do things for the community, the more helpful it is for all REALTORS®. We always want to be building our image, but we want to build our community too. We do more than sell homes – we sell community.
There’s a new column in this newsletter starting this month – “REALTORS® In the Community.” You’ve always been very generous with your time and money, and this column will highlight that.
We do so much work on the political scene for our industry too. Our lobbyists are always looking for the changes in laws and regulations that will affect your ability to do business, and that could be bad for private property rights and private property values.
Continue reading: It Pays to Get Involved
Daniel Allen Saturday, October 1st, 2011
 To keep the machine that is SAR functioning smoothly, there have been a few recent changes to staff duties. Chris Ly, known best as the Main Man of the Education Department, will be moving into SAR’s staff accountant position. This change will allow Chris to apply the accounting and finance knowledge he received from [...]
Dave Tanner Thursday, September 29th, 2011
 A new rule originally published by the Federal Trade Commission and now transferred to the Consumer Financial Protection Bureau became effective August 19, 2011. The rule applies to mortgage information being provided to consumers.
I imagine now many of you are thinking that you do not care because you do not do loans. Unfortunately the law is written so broadly that you may still be covered by its provisions.
If you just tell a consumer that mortgage rates are about 4% you are probably ok. If you tell them mortgage rates are about 4% with 20% down for 30 years you are probably subject to the rule. Likewise if you provide a consumer a lender rate sheet or leave rate sheets laying out at your open house, you must comply with the rule.
Not only does the new law require certain disclaimers be made to consumers, it also requires you to keep a copy of any notices or rate sheets you provide to consumers for at least two years. They need to be maintained within the broker’s record retention system so that they can be provided to regulators upon request.
If you are particularly industrious and want to read the entire 22 pages of the rule you can go to the Federal Register and search for 16 CFR Part 321.
NAR has published a two page Letter of the Law article which can be downloaded at www.realtor.org/letterlw.nsf/pages/0811maprule?opendocument&login&Print=Yes.
Continue reading: The New MAP Rule From the FTC
Judy Wegener Tuesday, September 13th, 2011
 Former Major League Baseball second baseman Steve Sax inspired SAR Members at the September Main Meeting. Sax’s presentation was a reflection of his book, “SHIFT – Change your Mindset and You Change your World,” in which he states that success is a choice based on your thinking, hard work and perseverance.
Sax grew up in a lower middle class family with his parents and four siblings in West Sacramento. He had never been on a plane until he signed with the LA Dodgers. As a boy, he would watch Dodgers/Giants games with his dad and tell him he hated the Dodgers, that “even if they paid me a million dollars, I wouldn’t play for them. A lot changed in a decade. Sax was an LA Dodger for seven years and earned two World Series rings during his time with the team.
From Sax’s experience, success is a matter of a positive mindset, endurance, effort and humility. He recounted his grueling schedule as a minor league player. Since he had no car, Sax walked an hour to practice. Practice was from 9:00am – 12noon; games from 1:00 – 4:00pm, followed by sessions with a defensive coach from 4:00 – 6:00pm. After walking back home, he would eat a bologna sandwich every night and do it all over again the next day.
Continue reading: Steve Sax Encourages a Change in Thinking
Doug Covill Tuesday, February 8th, 2011
“Work-life balance” is one of those areas where many of us “say” better than we actually “do.” My wife would be quick to put me in the group of those who don’t always balance work and family as well as I would like.
What does our profession emphasize? Top producers. Our companies, our colleges, our clubs – to say nothing of our bank accounts – all glorify the top producers.
In my experience, however, the most successful REALTORS® are the ones who do take time off. Very successful REALTORS® take vacations and take off two days a week. I really admire some REALTORS® I know who’ve built their business to the point that they can bring in a partner and take breaks.
As we are all increasingly plugged in, when do our brains recharge? Do kids get bored on long car trips any more? They have movies, tunes, electronic games and probably a lot more I don’t know about.
Our electronics also make it increasingly easy not to be present. Do you text or email someone else when you’re face-to-face with someone? Bad if it’s a client, worse if it’s family or friend. This is one reason we are encouraged to put our phones away during meetings at SAR. If you spend an entire committee meeting on your phone, you aren’t fully present even if you’re in the room.
Continue reading: Work-life Balance
Janelle Fallan Tuesday, October 19th, 2010
 The Sacramento Association of REALTORS®’ has become a perennial on the list of the top 25 area companies for corporate philanthropy, as compiled by the Sacramento Business Journal and published each April.
SAR’s position at #15 in 2010, in the midst of mostly for-profit businesses and in the midst of a real estate downturn, is a source of pride and an indicator of how REALTORS® are connected with the community and how they make a difference.
SAR budgets two to three per cent of its gross revenue each year for civic and charitable activities. Most of the other businesses on the Business Journal’s list donate less than one per cent of their revenues toward charitable causes.
CanTree, Masters Club and the Young Professionals Council all raise money independently of the SAR budget and make their own charitable contributions, although all the activities are a reflection of REALTORS®’ generosity. The 2009 Masters Club charities, receiving $3158.88 apiece – the proceeds from the Masters Club annual golf tournament – were Wellspring Women’s and Children’s Center, The GreenHouse and Wind Youth Services. YPC donated $6481.42 from its own fundraising activities. CanTree donated $65,000 to the Salvation Army. In its 27 years of existence, CanTree has raised more than $2 million for the Salvation Army in Sacramento.
REALTOR® participation for Rebuilding Together, Loaves and Fishes, the American River Parkway cleanup and many other activities represent a small portion of what Members give to the community. SAR Members also lead Girl Scout troops, organize neighborhood yard sales and Neighborhood Watch programs and generally endeavor on their own to support their communities.
Continue reading: REALTORS® Rank High in Philanthropy
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