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 LeFrancis Arnold  Tuesday, December 20th, 2011  Dear Member,
I’m excited to begin my term as your 2012 President, but I first want to thank our outgoing C.A.R. President Beth L. Peerce for serving this organization so well over the past year. She helped keep you, the REALTOR®, at the center of the real estate transaction during this challenging time. Thank you Beth for your service to organized real estate!
Like Beth, I also am a second-generation REALTOR®. I followed my mother into the real estate business in 1976 and became a broker a year later. I have served as a C.A.R. director since 1994. I’m going to continue serving the organization this year by helping you get through the tough economic times and be successful in your business.
But I won’t be doing it alone. I’ll be joined by a very capable 2012 Leadership Team comprised of President-Elect Don Faught, Treasurer Chris Kutzkey, and C.A.R. Executive Vice President Joel Singer. I’m excited to serve with this incredible team.
As one of my first duties, I’m pleased to share with you the good news that the FHA loan limit was reinstated last month so that middle-class home buyers have access to affordable home financing. The higher loan limit expired on Oct. 1, 2011, when it was reduced to $625,500, but now has been restored to $729,750 for an additional two years, through Dec. 31, 2013. However, the higher loan limits for Fannie Mae and Freddie Mac loans were not reinstated. C.A.R. and NAR both have long advocated for making higher loan limits permanent.
Continue reading: C.A.R. Monthly Message from President LeFrancis Arnold
Fatima Sogueco Wednesday, December 14th, 2011
 As part of the many benefits made available to members, C.A.R. offers its standard real estate forms in zipForm® 6, providing ease, convenience and a significant business tool for California REALTORS®. zipForm® 6 is the exclusive software of C.A.R.’s standard forms.
It has recently come to C.A.R.’s attention that some members may be attempting to modify the pre-printed text of C.A.R.’s standard forms or upload blank or modified versions of C.A.R.’s standard forms into other software programs for use in those programs. C.A.R’s standard forms are protected by U.S. copyright laws which expressly forbid the unauthorized reproduction of any portion of copyrighted material by any means, including electronic formats. Blank C.A.R. forms may not be printed from zipForm® 6, and any placement of C.A.R. standard forms in other software programs for use in those programs (other than a completed C.A.R. form in locked, .pdf format and saved in connection with a real estate transaction) infringes upon C.A.R.’s copyrights in its forms and is strictly prohibited. If a member needs to view a form that is not filled out, forms with the water mark “Sample” are available for printing from the zipForm® 6 software but are not to be used in transactions. Additionally, the removal or modification of pre-printed text in a C.A.R. form is a violation of C.A.R.’s copyrights in its forms and a breach of the zipForm® 6 End User License Agreement. Member placement of blank or modified C.A.R. standard forms in other software programs for use in those programs could result in substantial liability to the member for copyright infringement under federal law, as well as termination of the member’s zipForm® 6 account for violation of the End User License Agreement.
The C.A.R. copyright policy benefits our members in numerous ways. C.A.R. forms receive valuable protection under the C.A.R. User Protection Agreement. The C.A.R. User Protection Agreement will not apply, however, if the C.A.R. forms are used or modified in a way that violates C.A.R.’s copyrights in the forms. Additionally, proper use of C.A.R.’s standard forms in zipForm® 6 ensures that members are using the most current, up-to-date versions of the forms. Members can be confident that the C.A.R. standard forms in zipForm® 6 are reviewed in light of the latest changes in applicable law. C.A.R. standard forms in other software platforms may not be the most current version of the form and therefore may put you and your clients at risk. Finally, use of C.A.R. standard forms in zipForm® 6 helps to ensure that your membership dues do not subsidize the use of C.A.R. forms obtained from zipForm® 6 by individuals who have not purchased a license or otherwise are not entitled to such use.
Continue reading: Reminder About Proper Use of C.A.R.’s Standard Forms and zipForm® 6
Beth L. Peerce Tuesday, November 8th, 2011
 Dear Member,
Last month I informed you that Congress failed to extend the Fannie Mae, Freddie Mac, and FHA conforming loan limits and allowed them to expire Sept. 30. Since then, the Senate passed an amendment to an appropriation bill that would restore the $729,750 loan limits through December 2013. The Senate and House are now working out the differences between the Senate bill and the House bill, which the House passed earlier this year, but it did not reinstate the higher loan limits. If the House and Senate agree on a final bill, we will have a two-year extension to the conforming loan limits. C.A.R. is also working with the California Congressional Delegation to ensure this provision is included in the final bill.
C.A.R. and NAR are now working to get support for the extension in the House, but we need your help also. Please look for a Call for Action email from NAR asking you to call Sen. Dianne Feinstein and possibly other members of Congress. Please act now and urge your representative to extend the higher loan limits for GSEs and FHA. Well-qualified buyers don’t need another hurdle to access affordable mortgage financing.
Big changes on the way to help millions of distressed borrowers. Late October, the Federal Housing Finance Agency (FHFA) announced important changes to the Home Affordable Refinance Program (HARP) to help millions of underwater borrowers whose mortgages are backed by Fannie Mae and Freddie Mac. The changes will allow borrowers who are current on their mortgage payments to save an average of $2,500 a year by refinancing their mortgages, regardless of what their homes are worth. The revamped HARP Program will also streamline the refinancing process, eliminating certain types of appraisals and underwriting requirements, and reducing or eliminating fees that prevented homeowners from refinancing in the past.
The FHFA is working on details of the new rules, which should be finalized by Nov. 15. Banks may be able to start issuing refinanced loans by Dec. 1. We’ll continue to keep you updated on this issue.
Continue reading: C.A.R. Monthly Message from President Beth L. Peerce – November 2011
Beth L. Peerce Friday, October 28th, 2011
Dear Member,
In August, we had the pleasure of announcing C.A.R.’s brand-new 2011 consumer advertising campaign, “California REALTORS®. Champions of Home.” It’s been airing on cable, TV, radio, and online. Today, I’m thrilled to kick-off the campaign’s social media effort, C.A.R.’s first-ever Facebook contest, called “Stories of Home.” This contest features a new app [...]
Beth L. Peerce Monday, October 10th, 2011
October 10, 2011
Dear REALTORS®,
Important news on the housing policy front. Despite efforts by C.A.R. and NAR to fight for an extension of Fannie Mae, Freddie Mac, and FHA conforming loan limits, Congress failed to extend the $729,750 loan limits and allowed them to expire Sept. 30. This means the maximum loan amount that Fannie, Freddie, and FHA will buy or guarantee is $625,500, and anything above that amount will be non-conforming and will require a jumbo loan. These loans typically carry a higher mortgage interest rate and require a higher down payment, increasing the monthly payment, which will particularly be hard on middle-class buyers and sellers.
However, I’d like to applaud Rep. Gary Miller (R-Calif.) and Brad Sherman (D-Calif.) for jointly introducing a bill that would have made the current loan limits permanent, and Congressman John Campbell (R-Calif.), who introduced a bill that would have extended the current loan limits. And of course, California Senator Dianne Feinstein, who introduced a bill in the Senate that would have extended the conforming loan limits.
C.A.R. and NAR will continue to work with Congress to attempt to restore the higher limits as quickly as possible.
View the new loan limits.
Continue reading: C.A.R. Monthly Message from President Beth L. Peerce
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
Beth L. Peerce Friday, May 13th, 2011
Dear C.A.R. Member,
Greetings from Washington, D.C.! This week, your Leadership Team and I are in our nation’s capital, meeting with California’s congressional delegates and representatives from leading housing industry groups, including Fannie Mae and Freddie Mac, Federal Housing Finance Agency, and others.
This is a busy time of year in the legislative arena, on both the national front and in California. Last week, nearly 2,000 members of the REALTOR® Party of California were out in full force in Sacramento for the Association’s annual Legislative Day activities, which included a march to the Capitol. Many of you met face-to-face with your state legislators to discuss the issues that affect our industry — and your livelihood. I want to thank you for participating in Legislative Day because it’s more important than ever to make certain our interests are represented and that our voices are heard before elected officials craft legislation that impacts our industry.
For example, one impending issue that will significantly impact our industry is the future of Fannie Mae and Freddie Mac, the government sponsored enterprises (GSEs) that purchase or guarantee mortgage-backed securities on the secondary mortgage market. Congress has been debating changes to the GSEs. Proposals for “reform” include legislation to phase out and eventually eliminate Fannie and Freddie altogether. Elimination of the GSEs, which purchased or securitized two out of every three loans written in 2010, would have grave consequences for home buyers and sellers, the real estate market, and the economy as a whole. Almost overnight, financing would dry up. Interest rates would increase, and borrowers would be forced into the exotic loan products that helped create the current financial climate. These are scenarios the struggling housing market can ill afford now.
It’s important that REALTORS® understand the potential damaging effects of phasing out Fannie and Freddie. For more details about the GSEs and their importance to real estate housing finance.
Continue reading: C.A.R. Monthly Message May 2011
Doug Covill Monday, May 2nd, 2011
 Government relations is one area in which it would be very hard for you to do for yourself what your REALTOR® association does for you. Just the amount of time and expertise involved can be overwhelming.
Volunteers and state and federal lobbyists work all the time to protect your ability to do business, by looking out for private property rights and private property values. It’s not an exaggeration to say that our industry is under attack every day.
The work the association does here is so vital, and you may never hear anything about it. A problem may start when a regulator has what seems like a good idea, but does not understand the ramifications. This is where our two SAR advocates do such important work.
Caylyn Brown and Eric Rasmusson follow issues at the County and the cities of Sacramento, West Sacramento, Elk Grove, Rancho Cordova, Folsom, Citrus Heights, Orangevale and Carmichael, as well as other government agencies such as water, sewer and air quality. By developing and maintaining critical relationships with local officials, Caylyn and Eric are often able to deal with issues when they are still ideas, long before they are proposed as ordinances or regulations.
A good example of the behind-thescenes work they do occurred when Caylyn was reviewing the agenda of an upcoming council meeting of one of our suburban cities. She noticed a proposed regulation of “Open House” signs. One effect of the regulation would have been to limit open houses to Sunday afternoons only, which would have had a direct and detrimental impact on our Members’ ability to do business in that city. The city staff person didn’t realize that that’s what the regulation would have done. Diligent SAR staff and volunteer efforts took care of the issue before it went any further.
Continue reading: Working to Protect Your Ability to Do Business
Bonnie Becker Wednesday, March 30th, 2011
SAVING YOU TIME
C.A.R. Enters the Blogosphere— Curious about the perils of refinancing? Longing for sage advice from a real estate lawyer? Wondering if the latest tech gadget is really worth the investment? Log on to the new C.A.R. blog (http://blog.car.org) for these and other timely posts. The resourceful blog offers tips of the trade, industry news, tech talk, first-person tales from the trenches, and more. C.A.R. staff members contribute to the easy-to-read blog, which includes new posts several times a week, but the blog also is open for guest blogging. If you have wise tips or stories of success you’d like to share with other members, contact Lindsey Moss at lindseym@car.org. However, be warned: This is a pitch-free zone, so submissions aren’t about self-promotion.
SAVING YOU MONEY
Two Days in Sacramento—Mark your calendars for early May to attend Legislative Day (May 4) and California REALTOR® Showcase (May 5) in Sacramento. Legislative Day offers members an opportunity to descend on Capitol Hill and meet with their state legislators to discuss issues that affect the real estate industry. The day starts with a morning briefing at 9 a.m. Members interested in attending can register through their local association. For more information, visit http://www.car.org/governmentaffairs/getinvolved/legday/. The following day, California REALTOR® Showcase serves up free seminars on the latest developments in social media, how to navigate a short sale transaction, and what industry top producers are doing to succeed in today’s market. In addition to a tabletop exhibit, California REALTOR® Showcase also will feature a luncheon lecture, “Why Lenders Can’t Lend: The Uncertain Future of Real Estate Finance,” presented by C.A.R. CEO Joel Singer. Tickets are $55 through April 28; $60 onsite. For more information, visit www.car.org/meetings/showcase.
Continue reading: C.A.R.’s Your Membership, Your Way April 2011
Beth L. Peerce Wednesday, March 9th, 2011
Dear REALTORS®,
As you may know, C.A.R. has been working on numerous efforts to address your concerns about the difficulty of working with short sales.
To that end, I want to give you advance notice of perhaps one of our most visible activities to date, and one that may be a first in C.A.R.’s 100-plus-year history.
Tomorrow, C.A.R. is placing an open letter advertisement in California’s seven largest daily newspapers, calling on lenders and industry regulators to streamline and improve the short sale process. C.A.R. is taking a leadership role in this effort by getting this letter published and pointing out lenders’ and servicers’ unworkable short sale processes. We’re also appealing to various constituencies, such as regulators, elected officials, nonprofits, business organizations, companies, and individuals to join us so that more families are able to arrange a short sale, rather than lose their homes.
In the letter, I write, “With the number of homeowners who owe more than their mortgage is worth hovering at 30 percent, experts predict there will be many more foreclosures in 2011 and 2012. Unless we take immediate, aggressive action to assist these homeowners, any meaningful recovery in the housing market and overall economy will continue to be delayed.”
Continue reading: C.A.R. Short Sale Update
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