July 2016 - Lessons Learned

TheMReport — News and strategies for the evolving mortgage marketplace.

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10 | TH E M R EP O RT FROM THE SOURCE Knowledge WHY LIA? The Largest Provider of E&O Insurance to AMCs in the U.S. SINCE 1977 POLICIES SPECIFICALLY DESIGNED FOR AMCS COMPETITIVELY PRICED COVERAGE NATIONWIDE COVERAGE WITH "A" RATED COMPANIES STATE AMC BONDS WITH NO ADDED FEES Contact Susan Lomeli Ph: (800) 334-0652 X 139 Fax: (805) 962-0652 CA License #0764257 Administrators & Insurance Services LIA_AMC_Print_Ad_Knowledge_2.2917x9.125.indd 1 2/11/15 7:18 PM READ THIS ∂ THE BOOK ON TAX STRATEGIES FOR THE SAVVY REAL ESTATE INVESTOR By Amanda Han and Matthew MacFarland Investors, pay attention. Authors Amanda Han and Matthew MacFarland have the answers to your tax problems. The book provides ways that real estate investors can maximize deductions, invest smarter, and pay less to the IRS when doing their taxes. The information provided in the reading gives investors an edge on tax preparation and filing taxes. The Book on Tax Strategies for the Savvy Real Estate Investor offers real value and knowledge for investors. TWEET THIS #ENDINGTBTF Seven years after the financial crisis, America's biggest banks are still Too Big To Fail (TBTF). Some in the industry believe this way of banking is unsustainable and poses many risks to the economy and taxpayers. As a response to the overwhelming call to end TBTF, the Federal Reserve Bank of Minneapolis launched an initiative to develop a plan to end TBTF and prevent similar economic devastation from hurting the American people. In an effort to bring the industry together for a common cause, the bank is using the hashtag to generate ideas, thoughts, and a plan forward to end TBTF. SHARE THIS WELLS FARGO INTRODUCES YOURFIRST MORTGAGE Wells Fargo launched a new low-down payment mortgage program for first-time and lower-income borrowers that could be the bank's way out from under the shadow of the Federal Housing Administration. YourFirst Mortgage is a new home loan program that offers a down payment of as little as 3 percent for fixed-rate mortgages, lower out- of-pocket costs, expanded credit criteria, and incentives for homebuyer education. WATCH THIS ∂ JEB HENSARLING AT THE ECONOMIC CLUB OF NEW YORK Speaking at the Economic Club of New York, Rep. Jeb Hensarling (R-Texas), Chairman of the House Financial Services Committee, announced the GOP's much- anticipated and much-talked about proposed alternative to Dodd-Frank, entitled the Financial CHOICE (Creating Hope and Opportunity for Investors, Consumers, and Entrepreneurs) Act. The proposal includes three major points: ending taxpayer-funded bailouts of large financial institutions, relieving banks that choose to be strongly capitalized from what Hensarling called "growth-strangling regulation;" imposing tougher penalties on financial predators and fraud perpetrators and at the same time requiring greater accountability from regulators in Washington.

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