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THE BAN ON EVICTIONS WILL END SOON. HOW DO WE PROTECT THESE VULNERABLE GROUPS? page 4
REAL ESTATE FOR SALE! SEPTEMBER 6 | 2021
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The ban on evictions will end soon.
How do we protect these vulnerable groups?
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he clock is ticking. The Moratorium put in place in September last year, unfortunately, expired on Saturday 31st, 2021. It was, however, extended temporarily to October 3rd. That is after President Biden refused to extend the Moratorium. Real estate policy experts predict that with the expiration of these federal bans, between 30 to 40 million homeowners could lose their homes. Another additional 29% to 43% of renter households will face the possibility of homelessness. According to an aspen report, the Moratorium was a saving grace to 50% of renter households who were already cost-burdened before the pandemic; this is according to an aspen report, with low-income earners and minorities being the demographic being most affected. The Moratorium has been bitter-sweet, it has saved many households from losing their homes, but at the same time, it has burdened Mom and Pops, who rely on rent payments to make mortgage payments on these properties. As it comes to an end, what happens to these vulnerable groups? Is there a way to mitigate this?
will struggle and ultimately end in homelessness. Federal rental assistance could reduce homelessness and other hardship. And more importantly, these programs have the potential of lifting at least 3 million Americans out of poverty, according to a study done by the Center on Budget and Policy Priorities. The programs will work for the best interest of children as well; by lifting these children from poverty, their health will be dramatically improved.
2. EXPAND THE CURRENT HOUSING SUPPLY
There is an acute housing shortage, as calculated by Freddie Mac. In 2020, America was facing a housing shortage of 3.8 million housing units. The government must look into boosting the 1.5 million units produced annually, especially in high opportunity areas. Home affordability should also be addressed, especially in high-cost coastal areas such as California’s Bay Area. It
1. RENTAL ASSISTANCE PROGRAMS
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Even before the pandemic hit, 18 million Americans had their income go towards rent. At least one person out of seven had 30% to 50% of their income toward housing expenses. That is well over the recommended 28%-meaning that most households were severely burdened, and with the lifting of the ban, these households THE POWER IS NOW MAGAZINE | SEPTEMBER 2021
is expected that prices will drop when the pandemic subsides; affordable housing providers may have a rare opportunity to buy low-cost units and pass them onto their affordable housing portfolios. Some may require rehabilitation but will offer great housing alternatives.
3. STRENGTHEN AND ENFORCE LEGAL RENTER PROTECTION
Minorities for years have faced discriminatory housing policies that have hindered them from accessing housing. That is especially true when accessing financing through mortgages and renting. It is illegal to discriminate as stipulated by the Fair Housing Act, but it is still more difficult for people of color to get approval for mortgages. For this reason, the considerable housing cost and income gap make minorities more
likely to rent in the long term. Substantial renter rights have the power to reduce home instability, remove barriers to access housing, and prevent homelessness. A journal article in 2017, the Journal of Planning Literature, found that if sources of discrimination laws, those that prohibited landlords from renting to renters on subsidies, were abolished, there would be a 12% increase in the renters finding housing. Governments must therefore legislate laws that address the underlying issues causing the housing crisis. Policies that protect renters from eviction without a cause, laws guarantee a right to counsel, and laws that discriminate against homeless Americans from accessing housing. There is unfortunately not enough affordable housing for
America’s low-income owners. A great majority of Americans are struggling to pay rent and have fallen behind. With housing expenses taking a large portion of their income, some have to choose whether to buy groceries or pay rent. Nobody should have to make that choice. A housing crisis in America is looming, and if nothing is done to mitigate it, the results will be detrimental. Policymakers should legislate and enforce legal renter protection to end the cycle of discrimination against people of color and the homeless. Housing is not affordable, but there are down payment assistance programs that could help you with that. Eric Frazier, the CEO of Power Is Now Media Inc., has down payment assistance programs available with GSFA and CALFHA. Clients that want to make homeownership a reality. Reach Eric at Frazier MBA DRE 01143484 /NMLS 461807.
ABOUT ERIC FRAZIER: Eric Lawrence Frazier is President and CEO of the Power Is Now Inc. The Power Is Now is a multimedia company specializing in real estate and mortgage education for consumers and real estate professionals on various topics in real estate, lending, economics, and government policy since September 1st, 2009. The financial and real estate information is distributed through BlogTalkRadio, iTunes, TuneIn, and other online radio platforms nationwide, as well as online TV and eMagazines. Connect with Eric Frazier DRE 01143484 | NMLS 461807 | Office: 800-401-8994 x 703 | Direct: 714361-2105
with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help your homeownership dream a reality. Go to www. neverrentagain.com and get started today.
ABOUT THE POWER IS NOW MEDIA, INC. The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all over the United States. We engage with various thought leaders to make sure that you are equipped with knowledge about our economy. We have partnered
Sources: https://www.usatoday.com/pages/interactives/sponsor-story/rwjf/Oour-Homesare-Key-to-Our-Health-During-COVID-19-and-Beyond https://www.ohchr.org/documents/publications/fs21_rev_1_housing_ en.pdf https://www.baystatebanner.com/2021/06/23/america-faces-ahousing-crisis/
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Eric Lawrence Frazier MBA DRE, Vice President and Mortgage Advisor of First Bank, NMLS 461807 , President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com
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STATES GET FRAMEWORK FOR REGULATING NON- BANK SERVICERS
by the state and federal tests of the servicers. As result of these concerns, the regulators had incentives to practice and afterwards approve the new standards which mainly focused on two concepts ;
The United States regulators, through the Board of Directors of, Conference of State Bank Supervisors (CSBS) approved new regulatory standards for non bank mortgage servicers on 23rd July 2021. These regulations were made so as to improve and align the already existing authority which has depicted a fast-growth in bank mortgage servicing areas. Mortgage servicing has grown to 60 percent of the government mortgage market from 6 percent over the past ten years. This is as shown in the Finale model state regulatory prudential standards for non bank mortgages. According to CSBS, the mortgage servicers became accountable for the huge share of consumer mortgages which drove the regulators to get concerned about the absence of uniformity in the state standards that addressed the servicers’ liquidity and capital amount. Also, the regulators became concerned about the insufficient corporate governance and board oversight that was identified
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THE POWER IS NOW MAGAZINE | SEPTEMBER 2021
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Financial condition Corporate governance
These standards could be used by the state regulators to formulate law, guidance and procedures as per their individual authority or according to the legislation. The significance of adopting uniformity was to minimize regulatory burden and control entities of multistate. The aim of the standards is to make sure that; the non bank mortgage servicers upheld the ability to provide services to both investors and consumers with liability, transparency and risk management abilities. “The standards provide states with uniform financial conditions and corporate governance requirements for non bank mortgage servicer regulation while preserving local accountability to consumers,”said John W. Ryan, the CSBS president and CEO. The CSBS further emphasized that the conditions in the standards
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onbank mortgage servicers are companies that originate and service mortgages. They do not take deposits or have banking charters but instead, fund mortgage originations by borrowing from banks.
can be effective only through implementation. However the implementation may require the state regulators to make new laws, regulations and offer guidance to the states on how to adopt them. CSBS assured that it will see to it that implementation is as uniform as possible among all the states. CSBS said that the standard would only apply to servicers operating in two or more states and also cover agency and non agency serving. The standards however, will not apply to small servicers who meet a de minimis cut off, housing agencies, servicers of reverse mortgage loans and not-cut for-profit servicers.
This is a chance especially for every non-banker mortgage servicer who needs to find out more about the new standards. Reach out to Eric Lawrence Frazier MBA DRE 01143484 NMLS 461807 today and find out more! The Power Is Now Media Inc. is an advocate for the empowerment of the minority communities all around the United States. We engage in various thoughts of leaders to make sure that you are equipped with knowledge about our economy. We have partnered with First Bank to provide you with products and services that will help you prepare better for the future. We are also advocating for first-time home buyers. The Power Is Now Media Inc. can help you make your home ownership dream a reality. Go to www.neverrentagain.com and get started today.
MBA President and CEO Bob Broeksmit showed gratitude saying “MBA appreciates that CSBS has created model capital and liquidity standards for nonbank servicers consistent with our call for uniform standards Eric Lawrence Frazier MBA, Vice President and Mortgage Advisor of First Bank, that can be applied across all 50 states.” This is a sigh of relief for nonbank mortgage servicers after a long while of negative impacts caused by lack of uniformity in their sector. These standards will help provide flexibility to state agency commissioners , to either offer more or suspend the necessities of nonbank mortgage servicers depending on the economical, environmental or societal temporary changes.
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NMLS 461807. President and CEO of The Power Is Now Media Inc. www.thepowerisnow.com
References http://www.mortgagenewsdaily.com/07282021_loan_servicing.asp http://www.csbs.org
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SELECT A VIP AGEN Adrian Bates Los Angeles
Adriana Montes Florida
Ameer Elahee Fontana
Cornelius Jackson Irvine
Danon Burnside San Bernardino
Denise Matthis San Diego
Joe L. Fisher Richmond
Johnnie Morine Texas
Julius Cartwright Ohio
Monica Hill Menifee
Norman Green San Francisco
Jenny Gonzalez Corona
Kamesha Keesee Corona
Kenneth Session Bay Area
Briana Frazier Los Angeles
Emerick A. Peace Maryland
NT IN YOUR AREA Peggie Simmons Arizona
Robert Langston Fairfield
Ruby Frazier Riverside
Steve Peterson Oakland
Success Money LA Area
Yvonne McFadden Arizona
Sharon Bartlett Texas
YOUR POWER TO BUY A HOME IS NOW! 3547 HIGH MESA DR DALLAS, TX 75234
Offered at $345.000
PROPERTY INFORMATION
MULTIPLE OFFERS RECEIVED. DEADLINE IS TUESDAY NOON. Desirable location, just a few minute drive from 635, 35, and Dallas North Tollway. Walkable distance to library, grocery stores and community garden. Minutes to Love Field and DFW Airports. One story, updated 3 bedroom 2 bath ranch style home. New flooring throughout the common area living space. All bedrooms have large walk-in closet.
CALL ME FOR DETAILS: Johnnie Morine Direct: (817) 266-6629 Website: www.themorinegroup.com
930 1 8 th St, ORLANDO, FL 3 2 8 0 5
SINGLE FAMILY HOME FOR SALE LIST PRICE
$500,000
PROPERTY INFORMATION: Great opportunity to own this 4 unit multi family located conveniently in the city of Orlando! Don’t miss this opportunity! Hurry before it’s gone!
PROPERTY INFORMATION:
5 BEDROOMS
CALL FOR DETAILS
ADRIANA MONTES, JD MBA
m: (321) 689-6258 o: (407) 654-9992
4 BATHROOMS
adriana@floridadreamsrealty.com www.floridadreamsrealty.com
YOUR POWER TO BUY A HOME IS NOW! 9901 W Buckeye Road Tolleson, AZ 85353
Offered at $83,635,200
PROPERTY INFORMATION
Property also includes Parcel APN # 101-15-002A NOTE! APN # 101-15-001B Annexed to City Of Phoenix 07/11/1976 under Annexation # 96 NOTE! APN # 10115-002A Annexed to City Of Phoenix On 07/11/1996 Annexation # 96 Also Annexation # 162 On 03/20/1991 Also to City of Phoenix 160 Acres Gross Less exceptions of record.
CALL ME FOR DETAILS: Yvonne McFadden Direct: (480) 628-2619 www.yvonnemcfaddenrealtor.com
YOUR POWER TO BUY A HOME IS NOW! 1311 N Banning, Mesa, AZ 85205
Offered at $455,000
PROPERTY INFORMATION
A BEAUTIFUL HOME WAITING FOR NEW OWNERS. RELOCATION FORCES THE SALE. ENTER INTO THIS HOME WITH UPGRADED 42 IN UPPER CABINETS. GRANITE KITCHEN COUNTERS. STAINLESS STEEL FRIDGE & CONVECTION MICROWAVE. PANTRY FOR THE BIG BOX STORE PURCHASES. ISLAND PERFECT FOR BREAKFAST EATING. OPEN GREAT ROOM & KITCHEN. CEILING FANS.
CALL ME FOR DETAILS: Peggie Simmons Direct: (480) 201-0654 E-mail: peggiesimmons@aol.com
SEARCHING FOR YOUR HOME? 29499 Hursh St, Lake Elsinore, CA 92530
Offered at 460,000
PROPERTY INFORMATION
THIS UNIQUE 3 BED 2 BATH HOME IS PERFECT FOR ANYONE LOOKING FOR A REMODLED HOME IN GREAT CONDITION!!!! THERE ARE 2 BEDROOMS PLUS A BATH UPSTAIRS WITH A FULL KITCHEN AND LAUNDRY AREA. THE UPGRADES ARE ENDLESS WITH ALMOST EVERYTHING NEW!!! THE DOWNSTAIRS IS A FULL BED/ BONUS ROOM WITH A BATHROOM AND FULL KITCHEN AS WELL. USE AS AN OFFICE/GAME ROOM/GYM OR YOU CAN RENT IT OUT.
CALL ME FOR DETAILS: Kamseha Keesee Broker | DRE#01292916 Direct: (951) 454-5959 E-mail: keeseekamesha@aol.com
231 1 3 Samantha Place Mo reno Valley, CA 9 2 5 5 7
SINGLE FAMILY HOME FOR SALE LIST PRICE
$569,900
PROPERTY INFORMATION:
The most sought after area in North Moreno Valley. Three spacious bedrooms with two bathrooms on a flat lot with stunning upgrades. White cabinetry throughout, white whirlpool appliances in kitchen, 6 panel doors. Wood/tile/carpet flooring thru out. Picturesque hillside setting bordered by Sunnymead Ranch.
PROPERTY INFORMATION:
3 BEDROOMS
CALL FOR DETAILS
AMEER ELAHEE
DRE#01313504 m: 626-625-0099
2 BATHROOMS 2 CARS GARAGE
ameer@ameerelaheehomes.com www.ameerelaheehomes.com
170 2 Audrey Dr, G arland, TX 7 5 0 4 0
SINGLE FAMILY HOME FOR SALE LIST PRICE
$345,000
PROPERTY INFORMATION:
Looking for a great home on a great lot? Look no further! This beautiful one-story home is ready for entertaining! Ceramic tile spans the homes open concept living & dining areas. Enjoy the beautifully equipped kitchen featuring stainless steel appliances & tons of storage.
PROPERTY INFORMATION:
3 BEDROOMS
CALL FOR DETAILS
SHARON BARTLETT
DRE#0684103 o: (214) 914-9272
2 BATHROOMS 2 CARS GARAGE
sharon@sharonbartlet.com www.sharonbartletthomes.com
LISTED FOR $680,000
6488 Cambridge Ave, Rancho Cucamonga, CA 91737 Property Information
This single level home is located in Rancho Cucamonga and has 5 bedrooms, 3 bathrooms with over 2000 square feet. Vaulted ceilings in living room and a spacious family room. The property is conveniently located and just minutes north of the 210 freeway off Archibald, close to schools, shopping, and easy access to the 15 freeway.
Call Ruby Frazier Realtor DRE#01751773
mobile: (951) 686-5261 e-mail: rubyfrazier@fraziergrouprealty.com
wikicommons.com
144 9 0 Oak Knoll Court Fo ntana, CA 9 2 3 3 7
SINGLE FAMILY HOME FOR SALE LIST PRICE
$429.900
PROPERTY INFORMATION:
Opportunity knocks! Priced under market for quick sale! Lovely 2-story 3 BR 2.5 BA home, conveniently located in a nice area of Southridge Village in Fontana, short distance to park, schools, shopping and restaurants. Living room with cozy fireplace and high ceiling. Open kitchen and dining room. Large patio for family get together and BBQ on weekends.
PROPERTY INFORMATION:
3 BEDROOMS
CALL FOR DETAILS
CORNELIUS JACKSON
DRE#01824362 o: (855) 255-0877
3 BATHROOMS
info@cljrealty.com www.CLJRealty.com
LISTED FOR $300,000
Hilltop St, Perris, CA 92560 Property Information
Views! Views! Views! Here is the Video Enjoy! has been looking for a Property on Hilltop? I have it here for you! Here is 20.5 acres of prime land on the Gavilan Hills side of the Mountain. View of Lake Mathews on one side and the 15fwy on the other! Build your Dream Estate or your Family Estate! Build an area for Weddings! There are endless possibilities! Minimum 5 acre lots if divided. Seller is eager to sell. Please see notes for directions to the property. There is a sign on the hill to the left of the property line. Utilities: Well 80 foot water table, Propane and Solar. No need to run utilities!
Call Jenny Gonzalez Realtor DRE#01249788
mobile: (951) 316-0374 e-mail: jengonzalezre@gmail.com
LISTED FOR $372,000
195 White Oak Dr Santa Rosa, CA, 95409 Sonoma County Property Information
Bed/Bath: 2/2.00 Total Rooms: 5 Square Feet: 1314 Housing Type: Single Family Home Number of Stories: 1 Lot Size: 1742.00 sq ft
Call Danon Burnside Realtor DRE#01835853
mobile: (951) 205-5796 e-mail: dburnside73@gmail.com
YOUR POWER TO BUY A HOME IS NOW! 1574 Honeysuckle Ln, San Diego, CA 92114
Offered at $655,000
PROPERTY INFORMATION
Quiet serene neighborhood with low maintenance front and back that has plenty of character. Back yard is an oasis with a separate second level deck with a view and two patios and many fruit trees. Laminated flooring thru out and updated modern bathrooms. Main bedroom has direct access to back yard.
CALL ME FOR DETAILS: Denise Matthis Direct: (858) 484-4029 E-mail: dmatthis@demfinancial.com
YOUR POWER TO BUY A HOME IS NOW! 0 Trestle Glen Rd, Oakland, CA 94610
Offered at $2,690,000
PROPERTY DESCRIPTION
In the heart of one of the top neighborhoods in the Bay Area with a very private feel and easy access to shopping, dining, entertainment. Great neighbors and excellent school district. Vacant Lot is @ the Brockwood Rd/ Trestle Glen sign.
CALL ME FOR DETAILS: Kenneth Session Direct: (510) 290-7990 E-mail: ksession@sessionrealestate.com
5613 Zoram Ct Sacramento, CA, 95841
$345,000
Property Information
Property DESCRIPTION
Address:
Bed/Bath: 2/2.00 Total Rooms: 4 Square Feet: 1173 Lot Size: 3865.00 sq ft
5613 Zoram Ct Sacramento, CA, 95841 Sacramento County
BOBBY E. LANGSTON
DRE#01933277 d: (707) 639-1061 DRE#02077274 5709 Mariconi Ave Ste L. Carmichael 95608 www.bobbyreinc.com
LISTED FOR $680,000
6488 Cambridge Ave, Rancho Cucamonga, CA 91737 Property Information
This single level home is located in Rancho Cucamonga and has 5 bedrooms, 3 bathrooms with over 2000 square feet. Vaulted ceilings in living room and a spacious family room. The property is conveniently located and just minutes north of the 210 freeway off Archibald, close to schools, shopping, and easy access to the 15 freeway.
Call Ruby Frazier Realtor DRE#01751773
mobile: (951) 686-5261 e-mail: rubyfrazier@fraziergrouprealty.com
LISTED FOR $1,550,000 306 Delano Ave, San Francisco, CA 94112
Property Information:
Gorgeous Contemporary Mission Terrace Home in Balboa Park Neighborhood is waiting for you. This 2 bedroom 1 bath with office or small den home is ready to move in with a cozy wood burning fireplace in the living room. There’s a formal dining room and kitchen has a separate breakfast nook. Lots of potential for expansion up and back. In addition, there are 2 separate garages for 4-5 cars with a separate entrance door in-between. The separate entrance also takes you to a bedroom and bath down (not warranted). Large backyard for BBQ entertaining. Norman Green
Direct: (650) 296-5210 Fax: (415) 564-6313 BRE License: 01337466 norman.green@remax.net
SEARCHING FOR YOUR HOME? 15 Rosemont Cir Napa, CA, 94558
Offered at $1,072,000
PROPERTY INFORMATION 15 Rosemont Cir Napa, CA, 94558 Napa County Bed/Bath: 3/2.00 Total Rooms: 6 Square Feet: 1445 Housing Type: Single Family Home Lot Size: 17677.00 sq ft
CALL ME FOR DETAILS: Success Money Broker | DRE#01800466 Direct: (833) 243-6863 E-mail: info@callsuccessmoney.com
THIS PROPERTY WILL NOT LAST! 2778 N Selland Ave Fresno, CA, 93722
Offered at $244,000
PROPERTY INFORMATION
CALL ME FOR DETAILS:
Address: 2778 N Selland Ave Fresno, CA, 93722 Bed/Bath: 3/2.00 Total Rooms: 6 Square Feet: 1148 Lot Size: 3840.00 sq ft
Joe L. Fisher DRE#01070856 Direct: (510) 236-8204 E-mail: jlfisher180@yahoo.com www.jfisherrealtors.com