(SAN DIEGO) February 1, 2012 — Hispanic real estate leaders will meet in Washington D.C. next month to discuss the state of Hispanic homeownership and key policy issues like immigration, tight credit practices, REO disposition strategies and new regulations that present barriers to first-time home buyers. The midwinter meeting is hosted by the National Association of Hispanic Real Estate Professionals (NAHREP) and will be held March 21-23, 2012 at the Four Seasons Hotel. For more information about the event, go to: http://tinyurl.com/6sjyqdn.

The annual meeting is the largest forum of its kind on Hispanic homeownership and attracts housing experts, corporate executives, elected officials and Latino real estate leaders from across the nation.
This year, Latino leaders will visit Capitol Hill and present representatives with the group's policy recommendations on key housing issues that affect Hispanic homebuyers. The minority association will also release its annual State of Hispanic Homeownership Report at the meetings.

"With young Latino families eagerly waiting on the sidelines to buy homes, these discussions are imperative to addressing barriers that stand between them and homeownership," said Carmen Mercado, NAHREP president. "With the right programs in place, our community -- by virtue of its sheer population clout, can drive the purchase of low-priced housing and help stimulate the recovery."

The group will hold town-hall general session meetings on:

In the third quarter of 2011, Hispanic homebuyers accounted for 53% of home purchase transactions. The rapid rise in the Hispanic population and the increase in college-educated Latinos make them a likely consumer force to drive first-time home purchases. Policies and programs that enable these consumers to buy homes will benefit the housing market and local communities given the purchase cycle that accompanies homeownership, according to Hispanic real estate leaders.

(SAN DIEGO) January 25, 2012 -- Hispanic real estate leaders commend President Obama for remarks in his State of The Union address that will seek to resurrect the Dream Act bill and a path to citizenship for young illegal immigrants and propose new streamlined refinancing processes for distressed homeowners hoping to avoid foreclosure. Both measures would create positive changes in the Hispanic community and have an impact on Hispanic homeownership, according to the bipartisan 20,000-member National Association of Hispanic Real Estate Professionals.

"New, higher educated and accomplished young Latinos are poised to become a force in the next generation of homeowners. Immigration reforms that make it possible for the children of illegal immigrants to be a productive force in America will benefit us all," said Carmen Mercado, NAHREP President.

"Our Latino families who are also struggling to avoid foreclosure and the communities in which they live will benefit from streamlined refinancing processes that enable them to remain in their homes. We applaud the president for these solutions," added Mercado.

NAHREP, which commended Richard Cordray's appointment recently as consumer chief, also favors solutions that are now in discussion that will offer more aggressive steps to modify mortgages that help ailing homeowners lower their monthly payments. Members of the minority trade group also feel that Latino communities will be stabilized quicker through programs and measures that expedite short sales transactions and enable new, young and eager creditworthy Latino homebuyers to obtain financing and purchase low priced housing inventory.

In the third quarter of 2011, Hispanic homebuyers accounted for 53% of the nation's home purchase transactions. The rapid rise in the Hispanic population and the increase in college-educated Latinos make them a likely consumer force to drive first-time home purchases, according to Hispanic real estate leaders.

(SAN DIEGO) January 5, 2012 -- The National Association of Hispanic Real Estate Professionals (NAHREP), the largest trade group for Hispanics in the real estate and housing industry, announced its support today for the appointment of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB). The association represents 20,000 members who, in turn, serve millions of Hispanic homebuyers, the primary consumer segment expected to drive first-time homebuyer purchases in the coming decade.

"Mr. Cordray is a distinguished public servant with an impressive track record for defending the interest of the public and the underserved," said NAHREP President Carmen Mercado. "We believe his appointment will eliminate some degree of uncertainty in the market which we hope results in more access to mortgage credit for qualified buyers."

Cordray's appointment comes on the heels of a White Paper published by the Federal Reserve on the nation's housing market that, among other things, advocates a nationwide REO rental program.
The White Paper suggests that while homeownership should be promoted in an environment of decreasing home prices, borrowers may have little choice but to rent unless mortgage origination requirements and tighter underwriting standards are loosened.

Recent data released by HUD and the U.S. Census showed that Hispanics comprised more than 50% of all new homebuyers nationwide in the third quarter of 2011. According to the 2011 NAHREP State of Hispanic Homeownership Report last June, Hispanics remain passionate about homeownership and can play an enormous role in the overall housing recovery, yet everyday thousands of qualified Hispanic homebuyers remain on the sidelines and unable to purchase a home due to the current credit environment.

NAHREP is in favor of the CFPB and ongoing efforts to protect consumers without losing focus on the importance that sustainable homeownership plays in stabilizing communities and the overall quality of life for America's middle class families. Consumer protections and access to credit will be among the policy issues the 20,000 member association will discuss at its annual policy conference on March 20-25, 2012 in Washington D.C. http://nahrep.org/dc2012/

The National Association of Hispanic Real Estate Professionals (NAHREP) and the National Foundation for Credit Counseling (NFCC) announced today a new partnership to expand access to financial education and vital credit and housing counseling services specific to the Hispanic community. With tools and counseling available in Spanish, NAHREP's 50 affiliate chapters and the NFCC's 92 Member Agencies will collaborate to bring a new level of financial literacy to Latinos during these difficult economic times.

"By teaming up, NAHREP and the NFCC have the opportunity to create positive change in the Hispanic community. Knowledge is power and access to accredited counseling services and financial assistance and education can make a difference for Latino homeowners and homebuyers," said Carmen Mercado, President of NAHREP.

"Both organizations share a commitment to ensuring that individuals and families have the financial education necessary to make responsible homeownership decisions," said Susan C. Keating, president and CEO of the NFCC. "The NFCC Members are well-positioned to deliver the individualized counseling services consumers need when approaching the complex home-buying process."

NFCC Member Agencies will offer housing counseling including pre-purchase, foreclosure prevention, and reverse mortgage in addition to financial counseling to NAHREP clients. Examples of the NFCC's arsenal of tools available in Spanish which will be used to educate consumers around the home-buying process are the copyrighted Keys to Homeownership pre-purchase home-buying publication, multiple educational housing podcasts, the Avoiding Foreclosure DVD, and the Mortgage Reality CheckSM home ownership online quiz which allows consumers to assess their level of knowledge around buying a home (available at www.MortgageHelpNow.org and www.NoPierdasTuHogar.org).

Through the collaboration, the two organizations will strategically promote information, resources and tools through NAHREP agents who work with the Hispanic community. Additionally, the organizations will also engage in leadership discussion forums around the delivery of financial education and counseling needs evidenced in the Hispanic community.

With studies documenting record losses of wealth in the Latino community due to the foreclosure crisis and resulting decline in homeownership, NAHREP has consistently urged policymakers not to cut vital housing counseling services that have made a notable difference in the level of homeownership sustainability for new homeowners. During Hill visits for the last two years, NAHREP has recommended that housing counseling and financial education tools and services receive increased funding through the annual multicultural real estate policy.

"Latinos will comprise 40 percent of the first-time buyer market," added Mercado. "Helping them learn what it takes to be sustainable homeowners will help stabilize neighborhoods and benefit local economies."

"This new relationship with NAHREP will help create positive financial change for individuals, families, and communities, at a time when it is needed most," continued Keating.

The National Association of Hispanic Real Estate Professionals presented the 2011 NAHREP Founders' Awards to former OFHEO Regulator Armando Falcon and Shanna Smith, CEO of the National Fair Housing Alliance, for their efforts in advancing homeownership, particularly in the Hispanic community. The award was presented this week at a luncheon held during the 2011 NAHREP Real Estate & Marketing Conference.

Falcon, who is now chairman and CEO of Falcon Capital Advisors and is an expert on real estate markets, mortgage products and financial services regulation, previously served as director of the Office of Federal Housing Enterprise Oversight (OFHEO). During his tenure, he singlehandedly transformed OFHEO from a small struggling agency to a well-respected and highly effective agency. In 2009, he joined NAHREP's advisory team and has helped the association crystallize its policy positions.

Shanna Smith, CEO of the National Fair Housing Alliance (NFHA), led NFHA in the publication of the study "Here Comes The Bank, There Goes Our Neighborhood: How Lenders Discriminate In The Treatment of Foreclosed Homes." The report takes a frank look at the maintenance of foreclosed properties in white neighborhoods versus minority neighborhoods and the overall impact on the community through worsening housing values.

"These are champions of homeownership — who through their courageous deeds of challenging the status quo have made a difference in the national dialogue about housing. These are the type of people who evoke real change," said NAHREP Co-Founder Ernest J. Reyes.

Each year, NAHREP recognizes two individuals that have distinguished themselves by their work in support of sustainable Hispanic homeownership and for improving the quality of life for Hispanics in America. The annual awards go to one person from the corporate sector and one from the non-profit world.

The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in San Diego, NAHREP is the premier trade organization for Hispanics and with 18,000 members in 48 states and 50 affiliate chapters.

Thanks to a new Scholar Initiative from Chase, up to 20 lucky NAHREP members will have the chance to become Chase experts, receive personal product training on Chase loan products and work closely with Chase loan officers in their local markets. In addition, all scholarship recipients will receive a complimentary registration to the 2011 NAHREP Real Estate & Marketing Conference in Los Angeles on September 17-21. To apply, click the link below, fill out the application and submit it to: Daliah Acosta. Application deadline is: August 31.

To be eligible for a Chase Make A Difference Grant program, applicants must:

Candidates chosen for the Chase Scholars Initiative will need to register for the 2011 NAHREP Real Estate & Marketing Conference. Event registration confirmation is required. Please note, all scholarship recipients are responsible for making their own hotel room reservations and travel arrangement for attending the convention.

All questions about the Chase Scholars Initiative should be directed to: Daliah Acosta.

(SAN DIEGO) June 16, 2011 - The National Association of Hispanic Real Estate Professionals (NAHREP) has published a report "The State of Hispanic Homeownership" that offers an overview of compelling data on the Hispanic homebuyer market and why it is poised, due to its population size, high desire and buying clout, to drive first-time homebuyer purchases and accelerate the nation's economic recovery. A digital copy of the report is available for download at: http://www.nahrep.org/state-of-hispanic-homeownership.php

According to the report, minorities and immigrants will drive growth in housing demand due to their population size, age and greater propensity to be married with children. In particular, within the next 15 years, they are expected to drive demand for condominiums, smaller starter homes and first trade-up homes. They are also expected to represent a rapidly growing segment of the middle and middle-upper markets for housing.

"The Latin boom has been forecasted for years but we are now seeing the front edge of it and it has the potential to help the nation's housing system get back on track if we can create a safe credit environment for new buyers to get into the market," said Carmen Mercado, president of the 18,000-member trade group. "Our report quotes data from a number of sources that highlight the fact that enthusiasm for homeownership in the Hispanic community remains as strong as ever."

The report, which was penned by former Housing Fellow, Researcher, Author & Watchdog Alejandro Becerra, asserts that a combination of forces make it likely that Hispanics are poised to reinvigorate the ailing housing market including:

Past national housing surveys also reveal that Hispanics strongly aspire to become homeowners and are more motivated than the general population to buy a home for both emotional and financial reasons. Strong family values, larger family sizes compel this group by a wide margin to yearn for a place to call home. Fifty-seven percent of Hispanics consider owning a home a symbol of success, compared to only 33 percent of all Americans.

While Hispanics have been severely impacted by foreclosure, the larger population of potential homebuyers were unaffected by the crisis and demonstrate an eagerness to become homeowners. The association's report maintains that tight credit, higher fees, stricter underwriting requirements continue to remain barriers and that down payment assistance and savings programs are crucial to enabling buyers to afford homes even at present historic low prices.

While policy makers, industry leaders and consumer groups are in the midst of an intense debate around Qualified Residential Mortgages (QRM) and other key issues the report advocates for housing policy that protects consumers but allows for an industry that can adequately serve and meet the affordable housing needs of low- and moderate-income households.

"In the climate of crisis, we must resist over reaching with regulations that make homeownership more expensive for millions of responsible consumers who have the buying power to revitalize our fragile housing market. Homeownership remains a cornerstone of family stability and long-term wealth creation," added Mercado.

(SAN DIEGO/Washington D.C.) April 5, 2011 - The National Association of Hispanic Real Estate Professionals (NAHREP) raised concerns today about the proposed regulation by Federal financial regulators that would require a minimum 20 percent down payment for "qualified residential mortgages" that are exempt from mortgage backed securities risk retention rules. The 18,000-member trade association said the very narrow QRM definition would adversely impact minority and first-time homebuyers' ability to get affordable mortgage financing.

"By mandating a 20 percent down payment on qualified residential mortgages, we are concerned that this regulation as proposed will have a negative impact on the ability of minority and first-time homebuyers to obtain an affordable mortgage to buy a home. Government policy should not put minority and first-time homebuyers in a position where they are once again vulnerable to predatory lending practices and forced into high cost mortgages," said NAHREP Chairman Carmen Mercado.

The definition of QRM is important because it will determine the types of mortgages that will be offered at a lower cost to a consumer. NAHREP supports the overall goal of the QRM and the regulatory agency's effort to create a strong underwriting framework that promotes responsible lending and borrowing.

Narrow underwriting guidelines for "prime" loans created the opportunity for the proliferation of "subprime" lending. If the right balance around QRM definition isn't reached, regulations will create a similar scenario for non-QRM lending, the group maintains. Data released this week by the Federal Housing Finance Agency estimated that only 30% of the mortgages originated in 2009 and purchased by Fannie Mae and Freddie Mac would have qualified for QRM treatment.

"A government regulation that categorizes 70 percent of borrowers as subprime is just wrong and bad policy," Mercado added.

WASHINGTON, DC (March 15, 2011)—Saying millions of Americans are being left out of the American dream of homeownership, the nation's three largest organizations representing multicultural real estate professionals, Asian Real Estate Association of America (AREAA), the National Association of Hispanic Real Estate Professionals (NAHREP), and National Association of Real Estate Brokers (NAREB), today called upon policy makers to do more for minority homebuyers.

This call to action comes after AREAA, NAHREP, and NAREB met in Washington DC to discuss regulatory and policy changes to preserve access to homeownership for people of color.

"Overwhelmingly, the members of our three organizations agree that the lack of mortgage financing is the single-biggest challenge facing minorities who want to buy homes," said Kenneth Li, AREAA chairman. "The government's housing recovery efforts have not gone far enough to improve the situation facing minority homeowners."

At the March 3-4 Multicultural Real Estate & Policy Conference in Washington DC, members of AREAA, NAHREP, and NAREB were surveyed on their views of the home buying market and economic recovery efforts.

According to the survey results, nearly 80 percent of the attendees responded they "believe that the current policy efforts have done little to improve the situation facing minority homebuyers."

Attendees also felt strongly that an active secondary market role is needed by the government to ensure that all homebuyers have access to the American dream of homeownership.

"These are real estate professionals who are out in the community, trying to help hard-working Americans
achieve their dreams of buying homes, and they are confirming what we have long suspected - that their
clients cannot get loans," Carmen Mercado, Chair of NAHREP said.

In the survey of attendees, "mortgage financing availability" was cited as the single-greatest factor facing the multicultural real estate community. Additionally, respondents cited "tight underwriting requirements" as the greatest challenge facing prospective homebuyers looking to obtain financing.

To stabilize the home-buying market for minorities, the organizations issued a joint report entitled "The Five
Point Plan: Refocusing the Future of Minority Homeownership."

"Our Five-Point Plan is designed to bring common sense and a balanced approach to restoring the dream of
homeownership to everyone. None of us wants to have homeownership a dream deferred or denied," NAREB President and CEO Vincent Wimbish stated.

The Five-Point Plan focuses on sustainability, accountability and responsibility on the part of all parties in a real estate transaction. It calls for more diverse solutions to meet the future housing needs, and demands more preparation and responsibility on part of consumers and the industry alike. It also calls on the industry to develop unique and innovative solutions to the housing challenges facing the multicultural communities today and in the future.

Specifically, The Five-Point Plan calls for:

The Plan includes specific recommendations for each of the Five Points. Visit www.areaa.org,
www.nahrep.org, or www.nareb.com to download the Five-Point Plan.

RISMEDIA, March 10, 2011—Carmen Mercado, a Long Island, New York-based Education & Diversity Manager with NRT's Coldwell Banker Residential Brokerage, was installed as chairman and president of the National Association of Hispanic Real Estate Professionals during its policy forum last week in Washington, D.C. Mercado has served on the association's national board since 2006 and most recently was vice chair. Gerardo "Jerry" Ascencio, a Los Angeles-based real estate broker, will succeed Mercado as vice chair. Both officers will serve a one-year term in their post.

"Carmen Mercado and Jerry Ascencio bring a potent combination of real marketplace knowledge, leadership and understanding of the challenges that Hispanic home buyers and practitioners encounter," said immediate Past Chair Alex Chaparro. "Their grasp of the issues will be a huge benefit to NAHREP's national leadership team."

By day, Mercado trains real estate agents and drives leadership development for Coldwell Banker Residential Brokerage, which is owned by NRT LLC, one of the nation's largest residential real estate brokerage companies. Mercado is also an active member of the Realogy Diversity and Inclusion Council. She is a certified real estate instructor and delivers training programs throughout the Long Island and Queens area. She became active in NAHREP at the local level in 2004 when she founded the local NYC affiliate chapter. In 2006, she was appointed to the national board and has served on the executive committee prior to being named last year as vice chair. A passionate advocate for underserved home buyers, she has helped educate local Latinos about homeownership over the years by delivering seminars in liaison with local nonprofits.

Gerardo "Jerry" Ascencio, GRI, CRS is founder and past president of the NAHREP San Fernando/Santa Clarita affiliate chapter and a member of the association's national board. He is an established real estate broker in the greater Los Angeles area with two offices and 65 agents and broker associates. Ascencio served on the board of directors for the Southland Regional Association of REALTORS® and has served in numerous leadership and educator roles. He will succeed Mercado as chairman in 2012.

In other NAHREP news, Hispanic, Asian and African American real estate leaders have submitted a five-point plan to U.S. lawmakers on measures that must be taken to preserve homeownership for multicultural home buyers. The plan calls for practical and diverse solutions to address the challenges that multicultural communities face now and in the future. Alex Chaparro, immediate past chairman of NAHREP; John Wong, co-founder for the Asian Real Estate Association of America; and Ron Cook, vice chair of the National Association of Real Estate Brokers, offered insights behind recommendations on the March 8 show on NAHREP Radio. The show is available for listening in archive 24 hours a day, seven days a week.

More than 100 minority real estate professionals made visits to Capitol Hill last week for appointments with their local lawmakers. It is the biggest organized outreach by the coalition since the three groups began collaborating on the joint policy forum in 2008.

"In a political climate where talk of restricting FHA and unwinding the GSEs is dominating the housing conversation, it's important for minorities to weigh in," said NAHREP Chairman Carmen Mercado. "The multicultural coalition is recommending considerations that ultimately will benefit all working class families that dream of owning a home."

For more information, visit www.nahrep.org.

RISMEDIA, February 16, 2011—The foreclosure crisis sparked new regulations and licensing requirements for mortgage originators. Many changes at the state level have already occurred, but more requirements are coming. Every real estate professional should know about the Safe Act and what these changes mean to their clients. Tim Doyle, Vice President of Conference of State Bank Supervisors, will appear on the February 22 show of NAHREP Radio (http://www.blogtalkradio.com/nahrep) to offer an overview of the new national mortgage licensing standards.

Doyle is responsible for coordinating state mortgage regulators in developing Nationwide Mortgage Licensing System (NMLS) and oversees legislative and regulatory policies that seek to create a system of strong and efficient regulation. Prior to joining CSBS, Doyle was a Senior Director in the Government Affairs department of the Mortgage Bankers Association (MBA).

"The Safe Act is raising the standards of professionalism for originators with new education and licensing requirements. This affects agents, many of whom have preferred lenders they have built relationships with over the years," says Alex Chaparro, NAHREP chairman. "This is must-know info for every real estate agent."

The Voice of Hispanic Real Estate is an Internet talk radio program produced by the National Association of Hispanic Real Estate Professionals, a non-profit trade association with more than 18,000 members in 48 states and 50 affiliate chapters.

For more information, visit www.nahrep.org.

DSNews.com, October 21, 2010—The National Association of Hispanic Real Estate Professionals (NAHREP), a San Diego-based non-profit trade association dedicated to increasing the homeownership rate among Latinos, recently honoredGlenda Gabriel and Craig Nickerson with the 2010 NAHREP Founders' Award. The awards were presented at the NAHREP/AREAA Real Estate & Marketing Conference last week.

Gabriel, SVP at Bank of America, and Nickerson, president of the National Community Stabilization Trust (NCST), are members of the association's national board and leadership advisory teams.

"NAHREP is so lucky to benefit from the integrity and thought leadership of people like Glenda Gabriel and Craig Nickerson," said NAHREP co-founder Ernest J. Reyes. "We are forever indebted to their generosity of spirit and support all these years."

Gabriel, who oversees neighborhood lending of consumer real estate at Bank of America, has served on NAHREP's national leadership board since 2007. She is currently chairman of its corporate board of governors. Gabriel has experience developing emerging markets relative to the Community Reinvestment Act and with programs for low-to-moderate-income borrowers.
In addition to his leadership of the NCST, Nickerson was VP of expanding markets for Freddie Mac, where he was responsible for supporting the affordable housing needs of mortgage lenders, building housing industry partnerships to strengthen underserved communities, and increasing homeownership opportunities. He served two terms on NAHREP's national board.

NAHREP recognizes two individuals annually who have supported sustainable Hispanic homeownership and improved the quality of life for Hispanics in America. The annual awards go to one person from the corporate sector and one from the non-profit world.

RISMEDIA, October 19, 2010—Alex Chaparro, chairman of The National Association of Hispanic Real Estate Professionals announced that the trade association will host its national conference on September 17-22, 2011 at the glitzy downtown Los Angeles venue LA Live http://www.lalivemarriott.com/.

The 17,000-member group has deep roots in Southern California. Currently, it has five chapters and 2,500 members in the greater Los Angeles area. "Los Angeles and Southern California is a stronghold for the Latino community and NAHREP's chapter membership in this market certainly reflects that. We're excited to bring our national event to the West Coast," said Chaparro.

In a departure from its conferences of the past two years, which it has co-hosted with the Asian Real Estate Association of America (AREAA), the group will return to its original format of a Hispanic-centric program in 2011. AREAA will host its own separate event as well.

"The Hispanic community continues to lead the headlines with continued losses in the foreclosure crisis, particularly here in California. It's time that we return the conversation to those issues that challenge the Latino community," said NAHREP Co-founder Gary Acosta.

For more information, visit www.nahrep.org.

RISMEDIA, October 15, 2010—Latinos and African Americans have experienced significantly higher foreclosure rates than non-Hispanic borrowers in the Golden State, according to a report from the Center of Responsible Lending.

Paul Leonard, regional director for the Center for Responsible Lending; Rep. Loretta Sanchez (D-CA) and Gary Acosta, NAHREP co-founder, will discuss the report and the ramifications of its findings on NAHREP Radio on October 19. The show is broadcast live at 9 am to 10 am PST. The broadcast can be found here.

In foreclosure states such as California, Latinos account for 48% of the region's foreclosures. The study analyzed more than 600,000 foreclosures. Nearly one in eight (or approximately 702,000 homes) is currently in foreclosure and unemployment remains at 12%. Reports such as this substantiate what practitioners who work in Hispanic neighborhoods have been saying the past 24 months. These trends are truly important to the national dialogue as we reshape the business of housing going forward, said Alex Chaparro, NAHREP chairman.

The Voice of Hispanic Real Estate is an Internet talk radio program produced by the National Association of Hispanic Real Estate Professionals, a non-profit trade association with more than 18,000 members in 48 states and 62 affiliate chapters.

For more information, visit www.nahrep.org.

RISMEDIA, September 16, 2010--Disproportionate financial losses suffered in the Hispanic community during the housing crisis have resulted in a greater need for practitioner ethics in the community's recovery. Tino Diaz and Yamila Ayad, the original architects of NAHREP's Code of Trust, will discuss the moral imperative for bilingual practitioners to strive for higher standards of business practices and the association's certification program on NAHREP Radio on September 21.

Janis Bowdler, the housing policy director for the National Council of La Raza (NCLR), will also appear on the show. She worked closely with members for a 2007 market study on business practices that contributed to the housing crisis. The show is broadcast live at 11 am to 12 pm CST at: http://www.blogtalkradio.com/nahrep.

In foreclosure states such as California, Latinos account for 48% of the region's foreclosures. The majority of these families got subprime loans they could not reasonably afford. "Our community has suffered huge losses and the onus is on Latino practitioners and agents that work with the Hispanic market to hold themselves to a greater standard of ethics if we are to be a positive driver in the community's recovery," said NAHREP Chairman Alex Chaparro.

In 2007, NAHREP introduced the En Confianza, the Code of Trust and an ethics certification program. Next month, the association plans to issue an update to the program and offer members free certification training during the 2010 NAHREP/AREAA Real Estate & Marketing Conference in Las Vegas. It is the first time the course will be offered in a classroom setting.

The Voice of Hispanic Real Estate is an Internet talk radio program produced by the National Association of Hispanic Real Estate Professionals, a non-profit trade association with more than 18,000 members in 48 states and 62 affiliate chapters. The show is broadcast bimonthly and features leading Latino real estate experts, prominent industry leaders and topics that are relevant to the Hispanic real estate market and Hispanic homebuyers.

For more information, visit http://www.blogtalkradio.com/nahrep.

RISMEDIA, September 2, 2010--Is the REO market winding down? And is it too late to get into the market, if you're not already getting listings? REO experts Michael Krein, the president of the National REO Brokers Association; Gary Acosta, chairman of New Vista Asset Management; Bubba Mills, an REO trainer; and Juan Martinez, a leading REO listing broker in Las Vegas will offer their insights on what opportunities exist today for brokers on the September 7 broadcast of NAHREP Talk Radio. The show is broadcast live at 11 a.m. to 12 noon CST at: http://www.blogtalkradio.com/nahrep. Questions from listeners are welcomed during the show at 718-664-9178.

Some analysts predict that there could be as many as 3.8 million properties that receive a foreclosure this year, though some REO brokers report that business is down. "What's the real story? Is it too late in the game for brokers to get REO listings?" said NAHREP Chairman Alex Chaparro. "Business is down for many agents, but getting into REO is a feat, particularly with so many brokers clamoring for listings. We hope to offer our listeners some insights about this whole segment of the business."

The Voice of Hispanic Real Estate is an Internet talk radio program produced by the National Association of Hispanic Real Estate Professionals, a non-profit trade association with more than 18,000 members in 48 states and 62 affiliate chapters. The show is broadcast bimonthly and features leading Latino real estate experts, prominent industry leaders and topics that are relevant to the Hispanic real estate market and Hispanic homebuyers.

For more information, visit http://www.blogtalkradio.com/nahrep.

Between 2004 and 2008, Latinos received 30% of all California's home mortgages, but were subject to 48% of foreclosures. That's according to a report <http://www.responsiblelending.org/california/ca-mortgage/research-analysis/california-foreclosure-crisis.html> by a national consumer-advocate group, the Center for Responsible Lending. Gary Acosta, NAHREP co-founder and chairman of New Vista Asset Management, offers comment on the report along with Paul Leonard from the Center of Responsible Lending.

Should the federal government lend women and minorities some muscle to break Wall Street's glass ceiling? That's what a section of last week's financial overhaul bill aims to do, by granting the federal government authority to end contracts with financial firms that fail to ensure "fair inclusion" of women and minorities. Opponents say the provision's vague language make it tantamount to quotas, while proponents see it as an overdue wake-up call to a heavily white and male industry with a reputation for elitism. The section sets not quotas, or even goals, but it does establish at least 20 new Offices of Minority and Women Inclusion across the Treasury Department, which already has three such offices. Advocates of the provision say the current offices have no teeth and that minority and women-owned businesses didn't receive an adequate share of the contracts awarded through the $700 billion bank bailout, while the collapse of the sub prime mortgage market disproportionately hit African-American and Latino homeowners. Should the federal government take means to correct for this and if so, does this measure go far enough?

A little-noticed section of the Wall Street reform law grants the federal government broad new powers to compel financial firms to hire more women and minorities -- an effort at promoting diversity that's drawing fire from Republicans who say it could lead to de facto hiring quotas.

Deep inside the massive overhaul bill, Congress gives the federal government authority to terminate contracts with any financial firm that fails to ensure the "fair inclusion" of women and minorities, forcing every kind of company from a Wall Street giant to a mom-and-pop law office to account for the composition of its work force.

Employment law experts say the language goes further than any previous attempt by the U.S. government to promote diversity in the financial sector -- putting muscle behind federal efforts to help minority- and women-owned firms gain access to billions in federal contracts.

For advocates of the measure, it is a past-due shove to an elite industry that is heavily male and white -- one in which Government Accountability Office studies show women and minorities have made only minimal gains in the past 15 years.

But to opponents, the provision signifies a brazen government intrusion into corporate practices, with language written so vaguely that some believe it could lead to an unofficial quota system.

"This expands exponentially the reach of the federal government in terms of auditing," said Peter Kirsanow, an attorney and Republican appointee to the U.S. Commission on Civil Rights. "This is an expansion of racial engineering that we haven't seen in a long time."

The law sets no quotas, not even ratios or goals for hiring. And the government has options other than termination at its disposal for contractors who fail to meet the "fair inclusion" standard, including referring the matter to the Labor Department.

But the law tiptoes up to the line of quotas, say critics -- a group that includes Sen. Susan Collins (R-Maine); four Republican-leaning members of the U.S. Commission on Civil Rights who wrote a letter of opposition; and some in the conservative blogosphere, where a debate has raged for weeks outside the view of the mainstream media.

"It is very sweeping, from my review of the legislation," said Collins, who voted for the bill. "It talks not just about federal offices and agencies. It also talks about contractors and subcontractors, and so the implications are very unclear and can be read to require quotas, and that's an entirely different and controversial debate and does not belong in the financial bill."

Supporters of the move are cheering the law, saying that for years the legislative language behind diversity efforts lacked teeth.

"It is arguably the best part of the bill," said Gary Acosta, co-founder of the National Association of Hispanic Real Estate Professionals, which lobbied for the section.

Advocates have pushed for this change since the economic crisis hit, when billions in taxpayer dollars flowed into struggling Wall Street giants -- without reaching many minority- and women-owned businesses. They didn't receive an adequate share of the legal, accounting and asset management contracts awarded through the $700 billion bank bailout bill and other emergency programs administered by the Treasury and the Federal Reserve, Democratic lawmakers and advocates say.

At the same time, they contend, the collapse of the subprime mortgage market disproportionately hit African-American and Latino homeowners.

"Considering the devastation that has taken place in the minority communities - that was done by irresponsible and predatory lending - this makes sense and helps them mitigate that," Acosta said of the financial industry. "Inclusion is a good thing, always. And sometimes we have to be compelled to make changes."

The 1,261-word section authored by Rep. Maxine Waters (D-Calif.) barely registered during the legislative debate. And even weeks after the legislation moved through the House and Senate, Washington groups tasked with protecting business interests on Wall Street and beyond say they have yet to study that part of the bill.

At its core, the section establishes at least 20 new Offices of Minority and Women Inclusion across the Treasury Department, Federal Reserve, Securities and Exchange Commission and other finance-related agencies. It orders the directors of these offices to develop standards that "ensure, to the maximum extent possible, the fair inclusion and utilization of minorities, women, and minority-owned and women-owned businesses in all business and activities of the agency at all levels, including in procurement, insurance, and all types of contracts."

This applies to "services of any kind," including investment firms, mortgage banking firms, asset management firms, brokers, dealers, underwriters, accountants, consultants and law firms, the legislation states. Every contractor and subcontractor must now certify that their workforces reflect a "fair inclusion" of women and minorities.

The government still must write the rules for the new diversity standards before deciding which contractors meet the bar and which fall short.

If the director determines a firm failed to make a "good faith effort," the contract can be severed or referred to the Labor Department's Office of Federal Contract Compliance for review.

"Too often, diversity is lacking among the workforce of contractors," reads a set of talking points from Waters' office. "It is important that just as the Federal government provided them with a contracting opportunity that they provide opportunities to minorities and women, who are underrepresented within the financial services industry."

Waters couldn't be reached for comment.

Diana Furchtgott-Roth, senior fellow at the Hudson Institute and chief economist at the Labor Department under President George W. Bush, nudged the issue into the mainstream last month with a column posted on RealClearMarkets.com.

The question is how these offices will define "fair inclusion," she wrote, and they could decide that it means an employer's work force must match the demographics of the area in which it operates or risk losing a contract.

"This is just extraordinarily costly to firms. It is a big change in employment law," Furchtgott-Roth said in an interview. "What if there aren't any Native Americans who qualify for the open slots at Bank of America? What would they do?"

Advocates of the language say "fair inclusion" can be loosely defined this way: If a contractor in, say, Brooklyn or Miami doesn't employ any minorities, it could be a problem. But the expectations would be different in Maine, for example, which has the highest proportion of whites in the country.

"Your workforce doesn't have to be exact, but you have to try to make an effort," said Pamela Bethel, a partner at O'Riordan Bethel law firm who testified before Waters' committee on behalf of the National Association of Minority and Women-Owned Law Firms. "Nobody is suggesting you hire someone who isn't qualified, but if you look just a little harder outside your country club, you might find someone who is qualified."

Also of concern to some on the right is that the law creates another layer of bureaucracy that small businesses will need to navigate.

Collins said there are already three federal offices similar in scope: the Civil Rights Center at Department of Labor, the Office of Federal Contract Compliance at Labor, and the Equal Employment Opportunity Commission. In addition, each federal agency is required to have an Office of Small and Disadvantaged Business Utilization whose mission is to assist minority and women owned businesses, Collins said.

But Marc Morial, president of the National Urban League, which pressed for the bill language, said existing efforts to ensure that women- and minority-owned firms receive contracts have "no visibility, no teeth."

"If they were doing their job, certainly people like me would know about it," Morial said. "This statute means business -- and you can no longer pay lip service and (play) pretend games."

Meredith Shiner contributed to this report.
© 2010 Capitol News Company, LLC

RISMEDIA, August 18, 2010—The transformation of the U.S. consumer markets and the emergence of Hispanic homebuyers in the first-time purchase market represent new opportunities for brokers who use the right sales and marketing strategies. But what exactly is a winning game plan with this consumer segment that is now sprawling into new regions across the country? Multicultural real estate experts Dan Carrillo and Antonio Valdez of The Gonzales Group will offer practical tips on how to engage the Hispanic market on the August 24 show of NAHREP talk radio. The show is broadcast live at 11 a.m. to 12 noon CST at: http://www.blogtalkradio.com/nahrep. Questions from listeners are welcomed during the show at (718) 664-9178.

Population growth in this minority group has jumped 34 percent in the past nine years. Meanwhile growth in the traditional White non-Hispanic home buying market has slowed significantly overall, making Hispanic homebuyers a crucial buyer group in the housing market.

"Between 1990 to 2012, the buying power of Latinos is forecasted to surge 495 percent -- making this buyer group hugely critical to brokers that do business in the top 10 Hispanic stronghold states," said Alex Chaparro, NAHREP chairman. "Practitioners across the industry will be able to gain some useful tips and/or ask questions during the show from top experts in the multicultural real estate market."

For more information, visit http://www.nahrep.org/. For more information about The Voice of Hispanic Real Estate, go to http://www.blogtalkradio.com/nahrep.

RISMEDIA, August 5, 2010--Experts estimate that more than 1.3 million Latino families will lose their homes to foreclosure between 2009 and 2012. The financial setback and emotional blow from foreclosure is particularly devastating for Hispanic families who have little to fall back on.

Janis Bowdler, deputy director of the Wealth-Building Policy Project for the National Council of La Raza, and Roberto Quercia, director of the Center for Community Capital, will talk about the results of their study: "The Foreclosure Generation: The Long-Term Impact of the Housing Crisis On Latino Children and Families" (http://tinyurl.com/2enzax7) on NAHREP Radio. The show airs Tuesday, August 10 from 11 a.m.-12 noon CST.

"The loss of a home is particularly devastating for Latino families because the bulk of household wealth comes from homeownership," says Alex Chaparro, NAHREP chairman. "With so much focus on stemming the tide of foreclosures, there has been little emphasis on helping families cope with the social and psychological effects of foreclosure."

Bowdler oversees NCLR's policy and legislative analysis, research and advocacy work on issues that promote the financial security and advancement of Latino families. Quercia is Professor of City and Regional Planning at the University of North Carolina at Chapel Hill and director of the Center for Community Capital. He has conducted extensive research on neighborhood dynamics, low-income homeownership and affordable lending, among other things.

The Voice of Hispanic Real Estate is an Internet talk radio program produced by the National Association of Hispanic Real Estate Professionals, a non-profit trade association with more than 18,000 members in 48 states and 62 affiliate chapters. The show is broadcast bimonthly and features leading Latino real estate experts, prominent industry leaders and topics that are relevant to the Hispanic real estate market and Hispanic home buyers.

For more information, visit www.blogtalkradio.com/nahrep.

RISMEDIA, August 3, 2010--Back before Homeland Security began tracking such things, many undocumented immigrants have made Arizona their home, buying houses using an ITIN number or a fake social security number. Right or wrong, these people are invested in our community. They pay taxes. They're hard working. They're current on their mortgages. But many are walking away from their equity out of fear of deportation.

Gail Buck, a leading REO broker in Arizona, and author of the blog titled: "NAHREP Members: You Don't Want Arizona's Climate of Hate in Your Town," which was published on NAHREP's blog, is urging individuals who live in the 20 states considering legislation like Arizona's to come together and protect their communities.

"Latinos around here live in fear," said Buck. "They don't like the hostile climate and don't want their children to grow up in this environment. Many of them are leaving the state and moving to Colorado, returning home to Mexico or considering a move to other neighboring states," she adds.

"Their exodus is causing a chain reaction and leading to losses for local businesses that rely on their consumer purchases. The housing market is no exception. Arizona is one of the leading foreclosure states in the nation. We have more empty housing than we can fill. We don't need more problems that make properties harder to sell."

Bucks experience of the immigrants who come to this country is that they are hard working, family-focused people who are in search of economic opportunity. Some of them work seven days a week and juggle multiple jobs to provide for their families.

The blog garnered responses that are passionate and interesting on both sides of the issue with several real estate industry voices replying.

For more information, visit http://nahrep.org/blog/2010/07/13/nahrep-members-you-dont-want-arizonas-climate-of-hate-in-your-town/.

RISMEDIA, July 9, 2010—Critics maintain that too much pressure on banks to lend to minorities who were unable to afford homeownership is what led to the nation's housing crisis. Minority real estate leaders Gary Acosta (NAHREP) and John Fukuda (AREAA) will join Fair Housing Secretary John Trasvina on The Voice of Hispanic Real Estate broadcast by The National Association of Hispanic Real Estate Professionals on July 27. NAHREP Chair Alex Chaparro and Vice Chair Carmen Mercado will host the broadcast on Tuesday, July 27 at 11 am CST at http://www.blogtalkradio.com/nahrep.

Former housing fellow and author Alejandro Becerra will also offer comments during the show. His recent book Hispanic Homeownership: The Key to America's Housing and Economic Renewal addresses many of the arguments leveled by critics. Outspoken legislators and TV talk show hosts maintain that minorities who got home loans during the housing boom were ill equipped for the responsibilities of homeownership, despite the disproportionate of high cost subprime mortgages that were made within the community. Most of these loans were refinances and not first-time purchases.

NAHREP blog radio will also explore how Latino consumers feel about homeownership in the wake of the housing crisis, and whether the dream of homeownership is still alive. Show hosts Jerry Ascencio and Carmen Mercado will talk with leading Latino brokers Juan Martinez (Las Vegas) and Juan Cepeda (Los Angeles) in addition to live callers on the one-hour show broadcast on July 13 at 11 am CST at http://www.blogtalkradio.com/nahrep

The Voice of Hispanic Real Estate is a blog talk radio program produced by the National Association of Hispanic Real Estate Professionals, a non-profit trade association with more than 18,000 members in 48 states and 62 affiliate chapters. The show is broadcast bimonthly and features leading Latino real estate experts, prominent industry leaders and topics that are relevant to the Hispanic real estate market and Hispanic homebuyers.

For more information, visit http://www.blogtalkradio.com/nahrep.

June 23, 2010--Alejandro Becerra, a former US Housing and Urban Development (HUD) official and author of "Hispanic Homeownership: The Key to America's Housing and Economic Renewal" seeks to dispel what he says are common myths about what created the nation's housing crisis.

Becerra, in a blog post today on the National Association of Hispanic Real Estate Professionals website, lists the following myths:

Myth #1: The bulk of subprime loans were made to irresponsible borrowers who knew they could not afford the homes they bought.

Becerra, quoting the The Wall Street Journal, said 55% or more of all borrowers who obtained subprime loans in recent years could have qualified for less expensive conventional loans. He does, concede, however that many subprime borrowers acted irresponsibly, including affluent borrowers. Many borrowers were mostly ill informed and ill prepared to handle the risks and high costs involved in paying off their loans, he said.

Myth #2: A recent obsession with homeownership fostered subprime lending to "weak" borrowers who were likely to default.

Becerra said the highest rate of homeownership for the entire US population was achieved six years ago, especially for minorities whose income gains enabled them to achieve middle-class status. This occurred long before millions of borrowers -- regardless of race, ethnicity, or income -- were cajoled into defective loans, which typically required little or no income documentation, and contained hidden fees and excessive interest rates, he said.

Myth #3: Because low-income homebuyers are riskier borrowers and in recent years had access to too much credit, they were bound to default on their loans.

According to this myth, low-income households are generally assumed to possess "less than stellar" credit. However, data on many low-income borrowers show that they are not riskier borrowers than those with higher incomes, especially when their actual credit worthiness is appropriately measured, he writes. When these borrowers have access to credit and well-designed affordable homeownership programs, they pay their mortgages diligently, he said.

Click here to read Becerra's full blog post.

Gail Buck, a Latina REO broker in Arizona, has written a blog post blasting Arizona's new controversial immigration law.

"Unless you've been subjected to prejudice for who you are, this is a subject that's easy to dismiss," said Buck, in a blog post on the National Association of Hispanic Real Estate Professionals' website.

It's a different story for Latinos living in Arizona, however, she writes.

"Long before Gov. Brewer signed the immigration law, the air of fear and bigotry toward Latinos existed. The now infamous Sheriff Joe Arpaio and his posse of vigilantes have seen to that. The culture of prejudice these people have created here is something you don't ever want to experience in your hometown," Buck wrote.
She contends the new law is driving residents of Latin American decent to consider leaving Arizona, in what she says could further exacerbate the distressed housing market there.

"Arizona is one of the leading foreclosure states in the nation. We have more empty housing than we can fill. We don't need more problems that make properties harder to sell."

The new state law, passed in April, makes illegal immigration a state crime. It requires local law enforcement to question anyone they suspect of being an illegal immigrant about their residency status. The US Justice Department is seeking to strike down the law on the contention that immigration is a federal not a state issue.

Buck, with her red hair and light complexion, said chances are slim that she'll get stopped and asked to show her "papers" despite being of Mexican decent and fluent in Spanish.

That's not the case for others in her office, however. Estevan Medina, who works at Buck's Phoenix office, is among those who have been stopped and intimidated, she said.

"Estevan is dark skinned and a native of Mexico. He is bilingual and a proud US citizen. The Sheriff's posse pulled over Estevan and his college buddies one night. They handcuffed them with zip ties and shackled their feet. They bound them like criminals first; then they asked questions later," Buck wrote. "This practice and the discriminating way it is used to intimidate Latinos sends a loud, clear message to the Hispanic community: We don't like your kind."

A long-time advocate for the Latino community, Buck is the recent founder of Foreclosure Prevention Angels, a coalition of real estate professionals that provide resources and guidance to families facing foreclosure.

To read Buck's complete blog post click here. Then tell us what you think.

RISMEDIA (May 21, 2010) - The National Association of Hispanic Real Estate Professionals (NAHREP) announced plans to launch a brand new blog talk radio program this week. "The Voice of Hispanic Real Estate" will offer Hispanics in the industry a real time discussion forum for the issues facing real estate professionals and this minority consumer home-buying segment. The show debuts on June 1 at 9 am PST/11 am CST/12 pm EST at www.blogtalkradio.com/nahrep and will air every other Tuesday.

The Hispanic trade group plans to use the talk-show format to engage more practitioners in discussions about current events that are impacting Latinos and the real estate business. With Hispanic unemployment rates at 12.5 percent, disproportionate losses within the community due to the foreclosure crisis and rancor over state anti-immigrant laws, Hispanic practitioners are faced with impactful socioeconomic issues that are challenging them and their clients.

"This is an historic time in our industry and our nation. We want to offer members and, practitioners at large, a forum to air their opinions on the way the business is changing and how the Great Recession is affecting their clients," said NAHREP Chairman Alex Chaparro.

NAHREP Founders Gary Acosta and Ernie Reyes will be featured guests on the inaugural show entitled "NAHREP Then & Now: Why Hispanics Need Their Own Real Estate Trade Association" and will discuss the market forces that led them to create the Hispanic trade association in 1999. Chairman Alex Chaparro and Vice Chair Carmen Mercado will host the one-hour program that will include listener call-ins.
The show call in number is: (718) 664-9178.

Other prominent NAHREP leaders will take turns serving as guest hosts. The show schedule will include prominent industry leaders, Hispanic market experts, and cultural content that are relevant to practitioners doing business with Hispanic homebuyers. For more information about The Voice of Hispanic Real Estate, go to www.blogtalkradio.com/nahrep.

(SAN DIEGO/WASHINGTON D.C.) March 9, 2010 -- The National Association of Hispanic Real Estate Professionals (NAHREP) announced the appointment of Alex Chaparro, a Chicago-based independent real estate broker, as the 2010-2011 chairman of the nation's fastest growing trade association for Hispanic real estate professionals. Chaparro, who has held various leadership posts within the group since joining it in 2004, previously served as NAHREP's vice chair. Carmen Mercado, a Long Island, NY-based education and diversity-training manager, succeeds Chaparro as vice chairman. The pair was officially sworn in during NAHREP's annual legislative conference last week, held jointly with the Asian Real Estate Association of America and the National Association of Real Estate Brokers.

"Alex Chaparro is part of a movement of young NAHREP leaders that will carry the message of our group and the important role it must play in the housing recovery," said outgoing Chair Tino Diaz. "Alex is a strong leader and communicator in business, matters of policy and social media. His passion and advocacy will propel NAHREP to new heights."

Chaparro became an active member of NAHREP in 2003 with leadership roles on NAHREP Chicago's local board. In 2005, he was appointed to NAHREP's National Board of Directors and has successfully served on legislative policy and executive leadership committees. In 2006, Chaparro became the first Latino to be appointed as president of the 124-year-old Chicago Association of Realtors. That same year, Hispanic Business Magazine named him among the nation's Top 100 Most Influential Hispanics in business.

Carmen Mercado, a Long Island, New York-based broker, is a training and diversity manager for Coldwell Banker Brokerage. She is past president and co-founder of the NAHREP NYC chapter and has served in national leadership roles on the National Board of Directors and the Executive Committee as well as Communications and Event committees. A passionate advocate for the Latino community, Mercado has served as a volunteer homebuyer educator through work with local nonprofits. She has also actively volunteered in English As A Second Language programs at local schools.

Chaparro and Mercado will serve one-year terms in the current roles.

WASHINGTON, D.C. (MARCH 3, 2010) - The combined 70,500 members and affiliates of the National Association of Hispanic Real Estate Professionals, The Asian Real Estate Association of America (AREAA) and the National Association of Real Estate Brokers (NAREB) plan to share The Five-Point Plan: Creating A Sustainable Path to Minority Homeownership during their 2010 Multicultural Real Estate & Policy Conference this week in Washington, D.C. Leaders from the three national trade groups are appealing to lawmakers during Capitol Hill visits to take actions that stabilize the market, expand consumer protections, preserve liquidity and stop the spiral of losses in minority communities.

"Communities of color remain at great risk. We must take common sense actions that stop the spiral of losses, keep homeowners in place and prevent our neighborhoods from becoming renter communities," said incoming NAHREP Chairman Alex Chaparro. "Lawmakers are looking to the real estate industry to collaborate on solutions that balance the role of government and private enterprise. We believe this plan does that."

The three trade associations, which represent the most impacted communities, call for support of a five-point plan that:

"Our five-point plan, when adopted, will set a new course for this Nation's housing recovery, particularly within the minority community. The magnitude of our crisis requires us to act boldly and a decisively to put us back on the right track and restore consumer confidence in the real estate market," said AREAA Chairman John Fukuda. "Communities and people we serve deserve this kind of comprehensive approach."

Current government programs, while well intended, have had limited impact especially in minority neighborhoods where the incidence of expensive mortgages and higher unemployment is greater. (At the peak of the housing expansion, African Americans and Latinos held high cost mortgages at two to nine times the frequency of whites in some foreclosure regions.) According to a report from the Federal Reserve, African American borrowers were 1.8 times as likely as white borrowers to be in foreclosure and Latino and Asian borrowers were 1.4 and 1.3 times, respectively, to be in foreclosure.
"The collaborative effort of African American, Hispanic and Asian American real estate professionals signals a broad call to action. Our respective communities have experienced previously unimaginable losses since the onset of the mortgage loan debacle and the subsequent far-reaching economic crisis," said Vincent Wimbish, President and CEO of NAREB. "We firmly believe that the five-point plan offers a solutions-based approach to making homeownership, not only sustainable, but once again desirable for communities of color as well as for all Americans."

Homeownership among African Americans and Latinos varies by region. For Latinos, the greatest proportion of homeowners is based in the West and Midwest. Among African Americans, homeownership is most concentrated in the Midwest and the South. One-third of the nation's Asian population is based in California. The foreclosure crisis has turned into a regional phenomenon. Minorities reside in many of the states suffering the highest rates of foreclosures and home devaluations including: Nevada, California, Arizona, Florida, Illinois, Ohio and Michigan.

Leaders from the Hispanic, Asian and African American trade groups plan to discuss the tenets of the plan at a White House briefing during their policy summit this week. The associations have collaborated on joint positions in the past. This is the second time they have recommended a plan together. A copy of The Five-Point Plan: Creating A Sustainable Path to Minority Homeownership is available at www.nahrep.org, www.areaa.org or www.nareb.com.

###

About NAHREP

The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in Washington D.C., NAHREP is the premier trade organization for Hispanics and has more than 18,000 members in 48 states and 62 affiliate chapters.

About AREAA

Established in 2003, the Asian Real Estate Association of America's membership represents a broad array of real estate, mortgage and housing-related professionals that serve the diverse Asian/Pacific-American market. AREAA is the only national trade association dedicated to representing the interest of the Asian real estate market throughout the country. It pursues initiatives that expand home ownership opportunities for more Asian/Pacific-American families, that increase business opportunities for its members, and that deliver tangible results for its national partners.

About NAREB

The National Association of Real Estate Brokers (NAREB) was formed in 1947 out of a need to secure the right to equal housing opportunities regardless of race, creed, or color. Since its inception, NAREB has instigated, participated in, or actively supported legislative initiatives and legal challenges to ensure fair housing for all Americans and access to business opportunity for minority real estate professionals. Today, NAREB has 88 chapters located nationwide. For more information, visit: www.nareb.com.

The National Association of Hispanic Real Estate Professionals (NAHREP) supports today's announcement from the Federal Housing Administration about new policy changes to strengthen the agency's capital reserves and protect it from rising defaults. Among the changes, the agency will increase the amount of up-front cash paid by all new borrowers and require higher down payments from those with the poorest credit.

Under the plan, FHA will increase upfront insurance premiums that borrowers pay at closing from 1.75 percent to 2.25 percent of the loan value. Most FHA borrowers will continue to make down payments of as little as 3.5 percent when they take out a loan, but those homebuyers with credit scores of less than 580 will have to come up with a down payment of at least 10 percent.

"These are necessary adjustments that will maintain standards that will keep the market healthy. Borrowers with less-than-stellar credit will still have access to credit but they'll have to bring more to the table," said Tino Diaz, Chairman of NAHREP "We commend Commissioner Stevens and his team for developing solutions that we believe will improve FHA's capital reserves while preserving the agency's ability to fulfill its mission."

FHA remains a critical source of mortgage insurance for Latino borrowers, accounting for nearly 50 percent of their 2008 home purchase loans.

The National Association of Hispanic Real Estate Professionals (NAHREP) announced its 2010 initiatives recently that include a new membership program, the launch of a multimedia website and the debut of NAHREP CONNECT, one of the first social networks for Hispanic real estate professionals. The 10-year-old Hispanic trade group also disclosed plans to add new members to its ranks this year with a strategic plan that targets top Hispanic markets where it already has chapters.

NAHREP Chairman Tino Diaz is among 10 new members named by the Federal Reserve Board to its Consumer Advisory Council. The Council advises the board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters in the area of consumer financial services. The Council meets three times a year.

The Council, which is made of business leaders, housing advocates and nonprofit leaders, serves a three-year term.

Having recently celebrated its 10th anniversary, the 17,000-member National Association of Hispanic Real Estate Professionals (NAHREP) holds its annual marketing conference for all types of real estate pros this month in Las Vegas. NAHREP Chairman and President Tino Diaz discusses the Hispanic community and its importance to mortgage brokers and the country's financial future.

Hispanic Real Estate Trade Group Appeals to Congress To Support FHA's Continued Expanded Role

SAN DIEGO (November 17, 2009) - The National Association of Hispanic Real Estate Professionals (NAHREP) issued an appeal to members of Congress this week for its support of the Federal Housing Administration's efforts to strengthen the housing market, calling it the only real vehicle for working families to buy homes. NAHREP joined other real estate and housing groups in a joint letter issued to members of the U.S. House and Senate.

Hispanic Agents and Loan Originators Say Stability for Family, Utility and Freedom to Create a Home of Their Own Liking Are Primary Purchase Motivators Though Challenges Remain

SAN DIEGO/LAS VEGAS (October 26, 2009) - Fifty-four percent of Latinos that participated in a phone survey conducted on behalf of the National Association of Hispanic Real Estate Professionals (NAHREP), expressed a strong interest in homeownership and plan to buy a home in the next five years. The poll was conducted among Latino renters living in the foreclosure-ravaged markets of Las Vegas, Los Angeles, Miami and Phoenix and coincides with a national survey of Hispanic real estate professionals announced this week during its annual member convention in Las Vegas. The survey findings reinforce what many of the 16,000-member Hispanic trade group's members report as strong consumer interest that could further fortify the first-time homebuyer market.

SAN DIEGO (October 12, 2009) - Hispanic and Asian Real Estate professionals and industry business
leaders will convene at the 2009 AREAA/NAHREP Real Estate and Marketing Conference on October 25-27 in Las Vegas at the Palazzo Resort & Casino to discuss the state of the current multicultural homebuyer market. Hosted by the Asian Real Estate Association of America and the National Association of Hispanic Real Estate Professionals, the meeting is the single largest industry gathering of multicultural real estate professionals and is expected to draw 1,500 practitioners that actively work with the underserved market.

The dream of homeownership has been severely threatened by an historic record of foreclosures, delivering the most significant losses to minority communities. Are Latinos still interested in homeownership and, if so, what are their primary motives for wanting to buy? Do any particular barriers or consequences of the recent crisis challenge them? The National Association of Hispanic Real Estate Professionals polled its members for insights about how their clients feel.

Town-hall forum includes foreclosure experts from PMH Financial, National Default Servicing, Fannie Mae and New Vista Asset Management as part of 2009 AREAA/NAHREP Real Estate and Marketing Conference

LAS VEGAS (August 27, 2009) - What are the secrets for selling distressed properties? What do asset
managers look for in listing real estate brokers? What are the foreclosure sales opportunities in the future?
The nation's leading REO asset managers will answer these questions and more in a rare exchange with real
estate agents at the 2009 AREAA/NAHREP Real Estate and Marketing Conference on October 25-27 at the
Palazzo Resort in Las Vegas. This is the single largest industry gathering of Hispanic and Asian real estate
professionals that work with multicultural homebuyers.

SAN DIEGO (JULY 9th, 2009) - The National Association of Hispanic Real Estate Professionals
supports the proposed legislation to expand tax credits to all homebuyers and increase the
incentives from $8,000 to $15,000 as recommended by the Business Roundtable Housing
Working Group and now included in the Homebuyer Credit Act of 2009 (S. 1230).