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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
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
Daniel Allen Friday, November 12th, 2010
 LOS ANGELES, CA–(Marketwire – November 12, 2010) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) Leadership Team for 2011 is now in place. REALTOR® Beth L. Peerce is the Association’s 2011 president; REALTOR® LeFrancis Arnold is president-elect; REALTOR® Don Faught is treasurer; and Joel Singer is state secretary. The officers for 2011 began their official term earlier this week at the close of the NATIONAL ASSOCIATION OF REALTORS® (NAR) Conference and Expo in New Orleans, La.
Beth L Peerce REALTOR® Beth L. Peerce is the broker-owner of Prime Time Properties in Studio City, Calif. A REALTOR® since 1976, Peerce has been an active C.A.R. Director since 1982 and has served as chair or vice chair of numerous C.A.R. committees. Most recently, she served as Treasurer in 2008 and 2009 and President-Elect in 2010. She was elected Honorary Director for Life in 2006 in recognition of her commitment to the industry. She was selected REALTOR® of the Year by the Southland Regional Association of REALTORS® in 2005. Peerce also has played an active role on the NAR board of directors since 2001, and has been a member of the Executive Committee since 2009.
 LeFrancis Arnold New to C.A.R.’s leadership team is LeFrancis Arnold. He has been a licensed real estate broker for 34 years and has been involved with organized real estate for 35 years. Arnold was president of the Los Angeles County Board of REALTORS® (LACBOR) in 2008, and was the first appointed large Board NAR representative for Rancho Southeast Association of REALTORS® in 2006. He was first appointed C.A.R director in 1994 and was named REALTOR® of the Year by his local association in 1979 and 2008. Arnold has served on numerous C.A.R. committees at the leadership level including the Executive Committee, Strategic Planning and Finance, Housing Opportunity, Housing Affordability Fund, Real Estate Finance, Equal Opportunity and Cultural Diversity, and CREPAC. Active in his community, Arnold has served as chairman of the Lynwood Economic Development Committee and currently is Executive Director of Southeast Los Angeles County Community Development Corp. (SELAC).
Continue reading: Southern California REALTOR® Beth L. Peerce to Head CALIFORNIA ASSOCIATION OF REALTORS® 2011 Leadership Team
Nelson Janes Wednesday, July 7th, 2010
Board Action
The Board of Directors adopted a political assessment of $49 per Member beginning with the 2011 dues cycle. This assessment is for the California Real Estate Political Action Committee. If the C.A.R. Member chooses, the assessment can go instead to the C.A.R. fund for non-candidate political purposes.
The Board also approved a new structure for the statewide MLS that will merge calREDD® with the Multi-Regional Multiple Listing Service Inc. (MRMLS). After the merger, the state’s system will be called CALMLS. An additional $750,000 was also approved for the CALMLS line of credit.
SAR Successes
- SAR received the award for raising more money for the REALTOR® Action Fund than any other large association in the state – nearly $127,000!
- SAR’s Housing Opportunity Committee also won a $50,000 grant from the C.A.R. Housing Affordability Fund. The Association will more than match that amount to launch a new program that will give grants to homebuyers needing to make energy upgrades. Watch for the announcement of this new program that will help more buyers qualify to improve the energy use and comfort of their home.
- Our newly formed REALTOR® Action Fund (RAF) Committee secured a grant from the NAR to host a fundraising event for RAF, which they did in conjunction with Legislative Day.
Committee Reports
The Legal Action Fund Trustees have reviewed eight cases and requests for funding since their February meeting. The Trustees authorized three amicus briefs.
A landmark decision by the California Supreme Court occurred in the case of Steiner v. Thexton, supported by the Legal Action Fund. C.A.R. was concerned about the impact on the RPA-CA because of the buyer’s ostensible right to cancel a contract due to the failure of a contingency without having to state a reason. The Supreme Court acknowledged C.A.R.’s concerns as expressed in a brief and indicated in a footnote that “bilateral contracts subject to a contingency, which are widely used in real estate transactions, are not affected by our holding.”
Continue reading: C.A.R. Legislative Week Meetings Report
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