Vickie starts with breakfast…9:00am…then has the complete turkey dinner with all the trimmings starting at around 12:00 noon.  Some people will drop in, and others will stay all day.  She will even host all the way up to 9:00pm!

Please don’t hesitate to call Vickie…a good time will be had by all! 

The address is: 2567 Danville Blvd. Alamo 94507
Phone number is 925-939-7259   or cell 925-202-4080

Click here for the 2008 Holiday Breakfast Flier

Click here for the 2008 Holiday Breakfast Flier

By Matt Carter, Wednesday, September 10, 2008.

STOCKTON, Calif. — A last-ditch effort to head off an Oct. 1 ban on the use of seller-funded down-payment assistance with FHA-backed loans is picking up steam as a compromise bill, that would mend rather than end the practice, gains momentum.

HR 6694, which would allow home builders to continue funneling down-payment assistance through nonprofit groups to home buyers using FHA loans, is certain to pass the House of Representatives and has the blessing of the Department of Housing and Urban Development, Rep. Barney Frank, D-Mass., said at a hearing on foreclosures this weekend…

HR 6694 would automatically allow qualified borrowers with credit scores of 680 or above to use seller-funded down-payment assistance on FHA-backed loans, Frank said. Borrowers with scores between 620-680 who relied on seller-funded gifts might be subject to higher insurance premium fees.

Borrowers with scores below 620 would be excluded from using down-payment assistance until mid-2009, when HUD would be permitted to expand the program to include them if the Secretary of Housing determined it could be done without putting a dent in FHA’s insurance requiring taxpayer subsidies.

HUD has sought to end the use of seller-funded down-payment assistance with FHA loans outright, claiming the practice artificially inflates home prices and that borrowers who relied on the gifts are more likely to default.

Although FHA loan guarantee programs have always been self-sustaining — they are funded by premiums paid by borrowers, and not taxpayers — HUD said the enormous growth in the use of seller-funded gifts and the poor performance of the loans threatens to put the insurance fund in the red.

Nonprofits that funnel payments from home builders to lenders to help borrowers meet minimum down-payment requirements on FHA loans dispute HUD’s claims and have filed lawsuits that delayed HUD’s implementation of a rule change banning the practice… But the passage of HR 3221 made those court challenges moot.

Home builders — many of whom relied on seller-funded gifts to close 20 percent to 30 percent of their sales in the second quarter — have been bracing for the end of the program, and some lenders have already stopped processing such loans…

Democrat U.S. Rep. Dennis Cardoza, a former Realtor who represents Merced, Modesto and Stockton, also said down-payment assistance programs are “critical” in the region. “We have low-income folks who still have the ability to pay but don’t have the ability to bring large down payments. When I was a Realtor, I had hundreds of folks tell me that’s how they got into their house.”

If Congress does take action to preserve FHA’s ability to accept seller-funded down-payment assistance, it would have to move quickly. Although the ban mandated by HR 3221 doesn’t take effect until Oct. 1, builders like Lennar Corp. have set a Sept. 23 deadline for loan applications involving seller-funded gifts.

Nehemiah President and CEO Scott Syphax, who also attended the hearing, said he believes HR 6694 — currently awaiting a hearing in Frank’s Financial Services Committee — can emerge from the House and Senate in time to beat the deadline…

Nehemiah and other supporters of down-payment assistance programs, including the National Association of Mortgage Brokers, the National Association of Black Mortgage Brokers and the National Urban League are planning a rally in Washington, D.C., on Wednesday.

***

The regular site of our meetings is undergoing HVAC repairs and the building will be closed this Thursday.  We found out after last week’s meeting, so we apologize for the short notice. 

Please join us:

Dougherty Station Community Center (in Windemere)

17011 Bollinger Canyon Rd.

8:00 - networking, 8:30 - meeting start, 9:30 - adjourn

Let’s check out this new facility and enjoy a little change!  Please pass the word along to colleagues and other industry professionals who may want to attend.  Next week, we should be back to our regular location.

Call any of the board members with any questions.

Thanks!

of the

REALTORS’^® MARKETING ASSOCIATION (“RMA”)

Effective December, 2005

MISSION STATEMENT

To network with other professionals associated with the real estate industry in order to promote knowledge of inventory and market conditions, as well as raise awareness of Realtors’^® community efforts and involvement.

ARTICLE I

NAME:

The name of this Association shall be set forth above in the title of this Constitution and By-Laws as the “Realtors’^® Marketing Association.” (“RMA”)

ARTICLE II

PURPOSE:

A. The purpose of this Association shall be:

1. To help its members improve their awareness of inventory and market conditions.

2. To network with other real estate industry professionals

3. To provide for its members’ instructions, educational materials, and opportunities which will continue to sustain the level of professionalism in the real estate industry.

4. To provide opportunities, as an association, for members to enhance their service to the community through such forums as charitable events, “hands-on” projects, and other community efforts.

5. To encourage its members to engage in the highest ethical standards.

B. Limitation of Power. Notwithstanding any of the above statements of purposes and powers, this association shall not, except to an insubstantial degree, engage in any activities or exercise any powers that are not in furtherance of the specific purposes of the association.

ARTICLE III

MEETINGS:

This Association shall meet regularly once a week or as otherwise provided by the By-Laws of this Association. Special meetings may be called by a majority vote at any regular meeting.

ARTICLE IV

DUES:

A fee shall be determined by the duly elected Board of Directors. Such fee shall be paid and a business card shall be presented at each weekly meeting.

ARTICLE V

ASSOCIATION OFFICERS:

1. The officers of this Association shall be President, Vice-President, Secretary, Treasurer, and two Sergeants-at-Arms, and such other officers as may be provided for in the By-Laws of this Association. All officers, together with a past President, shall constitute the Board of Directors of this Association, having general administrative powers. The officers shall be elected as provide in the By-Laws of this Association, and any Realtors^® elected shall be members in good standing of their local Board of Realtors^®. Any Affiliate elected shall be an “Active Member” as defined in Article VII.

1. The President shall always be a licensed real estate agent and Realtor^® actively engaged in the business of listing and selling real estate.

1. The Vice-President, Secretary, Treasurer, and two Sergeants-at-Arms may be either an active Realtor^® or an Affiliate.

1. The term of each officer shall commence on January 1, and shall continue through December 31 (a period of one (1) year). No officer shall serve more than two (2) consecutive terms in the same office.

1. The membership-at-large shall elect the Advisory Council, numbering a total of five (5) members held to the same requirements as the Board of Directors. The term of the Advisory Council officers shall be a period of two (2) years.

ARTICLE VI

QUORUM:

A majority of the current Board of Directors shall constitute a quorum for the transaction of all business and elections of this Association.

ARTICLE VII

AFFILIATION AND MEMBERSHIP:

“Active Member” is defined as one who has attended at least 12 meetings in the calendar year. The members of this Association shall be actively involved with the real estate industry.

ARTICLE VIII

POLICY AND PRACTICES:

1. The articles of this Association will be governed by the Realtors’^® Code of Ethics and the California Association of Realtors’^® Code of Ethics.
2. Roberts’ Rules of Order Newly Revised shall be the final authority as to parliamentary procedure.
3. The Association must abide by State and Federal laws regulating “not-for-profit organizations.”

ARTICLE IX

The Constitution and By-Laws may be amended by a simple majority vote of the Board and Advisory Council with such an amendment proposed in writing by an active member at the meeting immediately preceding that at which the amendment is to be voted upon.

ARTICLE X

FEES:

1. The fees and dues shall be determined by the elected Board of Directors and the Advisory Council.
2. The Association must abide by State and Federal laws regulating “not-for-profit organizations.”
3. The Board of Directors shall present a balanced budget at the end of their terms of office.

ARTICLE XI

MEETINGS:

1. Regular meetings of this Association shall be held every Thursday at such an hour and place as the Association shall designate from time to time.
2. Special meetings may be called by a majority vote of the members at any regular meeting.
3. The Board of Directors of this Association shall meet monthly.
4. The Advisory Council shall meet as needed.

ARTICLE XII

ELECTION OF OFFICERS:

1. The officers of this Association shall be; President, Vice-President, Secretary, Treasurer, two Sergeants-at-Arms and a past President.

1. A Nominating Committee shall be appointed by the President at least four weeks prior to the election. This committee shall consist of three active members. The Committee shall use the Constitution and By-Laws as their guidelines for accepting nominations. It is recommended that at least one member of the Nominating committee shall be a past President or past Board or Advisory Council member. Three weeks prior to the election, this committee shall take nominations from the floor, by email, fax or by telephone. A committee member will contact the nominee and determine if he/she will accept the nomination.

1. All elections shall be by secret ballot. The candidate receiving the most votes from the “Active Membership” will be declared the winner. In case of a tie, there will be a special election to determine the winner. The vote will take place on the fourth Thursday following the nominations.

1. Nominations for officers and vacated Advisory Council positions shall take place on the last three Thursdays of the month of October. Speeches by each candidate and elections shall take place on the fourth Thursday of the election process. No nominations will be accepted from the floor on election day. New officers shall take office at the first meeting in January, and shall serve for a term commencing January 1^st, and conclude December 31^st of each calendar year.

1. Any vacancy of office shall be filled by a special election at the meeting two weeks following the announcement of the vacancy.

ARTICLE XIII

DUTIES OF OFFICERS:

1. The President presides at meetings of the Association and the Board of Directors, appoints all sub-committees and has general supervision of the operation of the Association. The President shall be an ex-officio member of all committees of this Association with the exception of the Nominating Committee and the Advisory Council.

1. The Vice-President shall act on behalf of the President in his/her absence.

1. The Secretary has custody of the Association’s Constitution and the By-Laws and all other records and documents of the Association. He/she shall keep an accurate record of the meetings and activities of the Association, and shall transmit same to the successor in the office.

1. The Treasurer receives and disburses, with the approval of the Association, all Association funds, pays all debts as they become due, and keeps an accurate account of all financial transactions. The Treasurer shall make financial reports to the Board of Directors on a monthly basis, and to the Association upon request, but no less than bi-annually. He/she shall prepare a balanced budget for the membership at year’s end, and transmit the accounts and any undistributed funds to the successor in office by December31st.

1. The Sergeants At-Arms are responsible for the orderly behavior of the members, and enforces the orders of the President at the meetings.

ARTICLE XIV

PROCEDURE FOR REMOVAL FROM OFFICE:

1. Should an officer be found in breach of the Code of Ethics set forth by the Board of Realtors^®, convicted of a felony charge, or absent from the meetings for a protracted and unreasonable period of time or from any conduct detrimental to the Association, that officer shall be subject to removal from office by a two-thirds vote of the Board of Directors and Advisory Council.

ARTICLE XV

SUB-COMMITTEES:

1. Facilities, Room Sponsors, Food Sponsors
2. Education
3. Community Service
4. Public Relations
5. Social Events

ARTICLE XVI

DISSOLUTION OF THE ASSOCIATION:

1. In the event of the dissolution of this Association, distribution of any funds after payment of any indebtedness may be made by a refund to its active members, or be donated to a designated community service project as selected by a majority vote of the active members.

ARTICLE XVII

AMENDMENTS:

1. These By-Laws may be amended at any regular meeting of this Association by a majority vote of the active members. Such amendments must be proposed in writing by an active member at a meeting at least two weeks preceding that at which the amendment is to be voted upon.

With all of the transportation challenges in the 680/580 corridors and the continued issues around housing and mortgages, there are sure to be many questions for Congressman McNerney from local Realtors and lenders.

The RMA meets at 8am at the San Ramon Community Center on the corner of Alcosta and Bollinger Canyon.

 “Battle of the Corridor”

Welcome to the 5^th Annual Battle of the Corridor Softball challenge between

The Contra Costa Realtors in Motion (CCRIM) of Walnut Creek (aka “The North”)

vs.

the Realtors Marketing Association (RMA) from San Ramon (aka “The South”)

The event raises thousands of dollars for the CCAR Scholarship Foundation

Wednesday, August 20, 2008  3:30 PM

Heather Farms Park, Walnut Creek

Dinner 4PM – Game 5PM

$ 20.00 Admission Includes

BBQ Dinner & Beverages

A Great Ball Game!!!

For Sponsorship Opportunities Contact

Linda Moss, First American Title Company, 925-927-2146, lmoss@firstam.com

Tom Proell, First Horizon Home Loans, 925-944-3113, tproell@firsthorizon.com

The RMA is sponsoring Friday, August 8th…we need your assistance!  Our group of volunteers will meet at 5:30 a.m. at Ruggie’s restaurant in San Ramon.  We will caravan to the fairgrounds and be ready to serve breakfast at 8:00 a.m. 

Join us at our regular Thursday RMA meeting, where we will have details about our specific day, or for other event information go to www.EastBayStandDown.org.