Santa Clarita Youth Project Golf ClassicRegistration is open for the 2014 Santa Clarita Valley Youth Project Golf Classic presented by the Santa Clarita Valley Division of the Southland Regional Association of Realtors in cooperation with RE/MAX of Valencia and Santa Clarita.The $200 per player registration fee—$700 if registering as a foursome—includes 18-holes of scramble format golf, a cart and range balls, continental breakfast, on-course lunch, post-round buffet and an awards reception with great odds of winning a fantastic prize. For a player registration form, contact Kayla Meeks via email at KaylaM@srar.com or call 661-299-2930. For sponsorship opportunities, contact Danny Walsh at 661-312-5842 or go to www.facebook.com/SantaClaritaValleyYouthProject.

Ending a 10-year Fight

FHA to Stop Post-Payment Interest Charges

By Roger Hance, President, and David WalkerSouthland Regional Association of Realtors®

In a dispute dating back more than a decade, the Federal Housing Ad-ministration on March 13 proposed eliminating a rule that has had sellers paying interest on a loan for days or weeks after the principal had been paid in full.

Realtors nationwide have been pushing for elimination of this prepayment penalty since 2003, but it took the federal Consumer Financial Protec-tion Bureau to bring it to an end — sort of.

Before it can take

effect, the proposed rule change must go through a comment period.

The National Association of Real-tors will submit a letter to HUD on the proposal prior to the due date of May 12.

Even if the rule is ultimately adopted in its current form, the change will not take effect until Jan. 21, 2015. For all FHA loans

ADVERTISING SUPPLEMENT

The Voice FoR Real esTaTe in The san FeRnando and sanTa claRiTa Valleyswww.sRaR.com | Real Estate Questions? E-mail Roger Hance, SRAR 2014 President, c/o DavidW@SRAR.com

skill-Based commercial investment edThe Commercial Investment Education Alliance and the Southland Regional Association of Realtors’ Commercial Investment Division present a two-day series of four classes on skill-based commercial investment education. The cost is $199.

The four classes cover four key aspects of commercial investment:• Exploring the business of commercial real estate• The mechanics of valuing commercial real estate• The techniques of analyzing investments, and• Tax aspects of investment real estate

Classes begin at 9 a.m. to noon and from 1 p.m. to 4 p.m. on Thursday, May 8, and Friday, May 9. Classes will meet in SRAR’s

auditorium, located near the corner of Balboa and Sherman Way in Van Nuys. The registration deadline is Thurs-

day, May 1. For more information, contact the education department at 818-947-2268 or go online to www.commercialdataexchange.com.

Thursday , May 8, 2014

101-Exploring the Business of Commercial RE (9:00 am ~ 12:00 pm) Career opportunities in commercial real estate Starting your career in commercial real estate Participants and their role in commercial transactions Definitions, common forms and worksheets 102-The Mechanics of Valuing Commercial RE (1:00 pm ~ 4:00 pm)

Calculating income and expenses for a commercial property Preparing the Annual Property Operating Data (APOD) worksheet Calculating NOI for an investment property Calculating Loan Amounts and Debt Service Coverage (DSC)

Friday, May 9, 2014

103-The Techniques of Analyzing Investments (9:00 am ~ 12:00 pm) Answers to frequently asked investor questions An explanation of the “Time Value of Money” How to calculate the Internal Rate of Return (IRR) on an investment Analyzing a commercial investment using a 5 year cash flow projection 104-Tax Aspects of Investment Real Estate (1:00 pm ~ 4:00 pm) An explanation of tax classification used for properties, entities and income How to calculate tax benefits and consequences at sale How to calculate the after-tax return on an investment property Understanding the unique tax advantages of owning investment real estate CIEA SUGGESTS You Bring a HP10BII or Equivalent to CLASSES 102 -104 Registration Deadline May 1, 2014 No Refunds Issued After May 1, 2014

Presented by CIEA & SRAR Commercial Investment Division

This Two Day Series of Four Classes is a

Skill Based Commercial Investment Education For Only $199

Southland Regional Association Auditorium

7232 Balboa Blvd, Van Nuys, CA 91406

Fax Registration Form To: 818-786-4541 Or Mail With $199 To: SRAR 7232 Balboa Blvd., Van Nuys, CA 91406

For More Information Contact The Education Department @ 818-947-2268

NAME:_________________________________________ PHONE#:__________________________________ EMAIL:__________________________________________ AMEX/VISA/MC/DISC #:________________________________________EXP:________________ SIGNATURE:__________________________________________________

Realtor® Roger hance2014 SRAR President

Fee Includes: *18 Hole Four Player Scramble *Golf Cart & Range Balls *Continental Breakfast *On Course Lunch *Post Round Buffet *Awards Reception

#1: ___________________________Phone:__________________Email:___________________

#2: ___________________________Phone:__________________Email:___________________

#3: ___________________________Phone:__________________Email:___________________

#4: ___________________________Phone:__________________Email:___________________

Putting Contest, Hole In One Challenge, Closest to the Pin, and Long Drive @ $30 each:_______

Contact Information:Name: ____________________________________________________________________

Address: ____________________________________________ZIP___________________

E-Mail ___________________________________________________________________

Phone Number: ____________________________Cell ____________________________

Method of Payment: ____ Credit Card ____ Check (Please make checks payable to SRAR)

Credit Card Type: MasterCard _____VISA _____Discover_____ Amex

Name as it appears on card: _________________________________________________

Card Number: ______________-______________-_______________-_______________

Expiration Date: _________/__________

Authorizing Signature: _____________________________________________________

SCV Youth Project Player Sign-Up Form

Thursday, May 29, 2014TPC Valencia

26550 Heritage View LaneValencia, CA 91381

7:00 a.m. Registration9:00 a.m. Shotgun Start

SRAR SCV Division20655 Soledad Cyn Rd #33Canyon Country, CA 91351Phone: (661)299-2930 | Email: KaylaM@srar.com.

Return this registration form to Kayla Meeks

INDIVIUAL GOLFER - $200/PERSON - FOURSOME GOLFERS - $700

SPONSORSHIP OPPORTUNITIES - Please indicate your sponsor level:

Presented byGolf Classic

The Youth Project is a notfor profit organization thatprovides free counseling to

teens dealing with depression,suicide, drug & alcohol addiction,

LGBTQ issues, abuse, neglect,grief & loss, pregnancy and

bullying. Since its inception in2000, and active on ten SCV

school sites, it has served morethen 30,000 teens & families by

providing one-on-one counseling,support groups, outreach and

crisis intervention.

Of Valencia&

Santa Clarita

TEE IT UP AND SUPPORT THE TEENS OF SANTA CLARITA VALLEYREGISTER TODAY

www.facebook.com/SantaClaritaValleyYouthProject

MULLIGAN PACKAGE - $30

RECEPTION SPONSORSHIP $2,500* Signage at Reception* Two playing spots in the tournament

LUNCH SPONSORSHIP $2,000* Signage at Range* Two playing spots in the tournament

BREAKFAST SPONSORSHIP $1,500* Signage at Continental Breakfast* Two playing spots in the tournament

TWO CART SPONSORSHIPS $1,500* Signage on Carts* Two playing spots in the tournament

TWO PRIZE SPONSORSHIPS $1,500* Signage at Prize Table* Two playing spots in the tournamentDonations for Prizes & Auction are Welcome!

TEE SPONSORSHIP $350* Signage at Tee Box

“HOLE IN ONE”SPONSORED BY:

All Proceeds Benefitthe SCV Youth Projecthttp://www.helpnothassle.org/

For questions contact Danny Walsh, (661)312-5842

Fee Includes: *18 Hole Four Player Scramble *Golf Cart & Range Balls *Continental Breakfast *On Course Lunch *Post Round Buffet *Awards Reception

#1: ___________________________Phone:__________________Email:___________________

#2: ___________________________Phone:__________________Email:___________________

#3: ___________________________Phone:__________________Email:___________________

#4: ___________________________Phone:__________________Email:___________________

Putting Contest, Hole In One Challenge, Closest to the Pin, and Long Drive @ $30 each:_______

Contact Information:Name: ____________________________________________________________________

Address: ____________________________________________ZIP___________________

E-Mail ___________________________________________________________________

Phone Number: ____________________________Cell ____________________________

Method of Payment: ____ Credit Card ____ Check (Please make checks payable to SRAR)

Credit Card Type: MasterCard _____VISA _____Discover_____ Amex

Name as it appears on card: _________________________________________________

Card Number: ______________-______________-_______________-_______________

Expiration Date: _________/__________

Authorizing Signature: _____________________________________________________

SCV Youth Project Player Sign-Up Form

Thursday, May 29, 2014TPC Valencia

26550 Heritage View LaneValencia, CA 91381

7:00 a.m. Registration9:00 a.m. Shotgun Start

SRAR SCV Division20655 Soledad Cyn Rd #33Canyon Country, CA 91351Phone: (661)299-2930 | Email: KaylaM@srar.com.

Return this registration form to Kayla Meeks

INDIVIUAL GOLFER - $200/PERSON - FOURSOME GOLFERS - $700

SPONSORSHIP OPPORTUNITIES - Please indicate your sponsor level:

Presented byGolf Classic

The Youth Project is a notfor profit organization thatprovides free counseling to

teens dealing with depression,suicide, drug & alcohol addiction,

LGBTQ issues, abuse, neglect,grief & loss, pregnancy and

bullying. Since its inception in2000, and active on ten SCV

school sites, it has served morethen 30,000 teens & families by

providing one-on-one counseling,support groups, outreach and

crisis intervention.

Of Valencia&

Santa Clarita

TEE IT UP AND SUPPORT THE TEENS OF SANTA CLARITA VALLEYREGISTER TODAY

www.facebook.com/SantaClaritaValleyYouthProject

MULLIGAN PACKAGE - $30

RECEPTION SPONSORSHIP $2,500* Signage at Reception* Two playing spots in the tournament

LUNCH SPONSORSHIP $2,000* Signage at Range* Two playing spots in the tournament

BREAKFAST SPONSORSHIP $1,500* Signage at Continental Breakfast* Two playing spots in the tournament

TWO CART SPONSORSHIPS $1,500* Signage on Carts* Two playing spots in the tournament

TWO PRIZE SPONSORSHIPS $1,500* Signage at Prize Table* Two playing spots in the tournamentDonations for Prizes & Auction are Welcome!

TEE SPONSORSHIP $350* Signage at Tee Box

“HOLE IN ONE”SPONSORED BY:

All Proceeds Benefitthe SCV Youth Projecthttp://www.helpnothassle.org/

For questions contact Danny Walsh, (661)312-5842

consummated on or after Jan. 21, 2015, a post-payment interest charge resulting from the monthly interest accrual amortization method will be considered a pre-payment penalty, which is specifically outlawed under new Qualified Mortgage rules issued by the Consumer Financial Protection Bureau.

That means FHA loans consummated prior to that date—covering about 7.8 million existing and new loans—may still have inter-est charged through the end of the month in which the mortgage is prepaid, even if the loan is paid in full on the first of the month.

While sellers typically

hold sway over the precise date escrow closes, all parties in transactions involving FHA-insured loans would be wise to negotiate to close at the end of the month, not the beginning.

While FHA insists the practice enables them to issue loans with a lower interest rate, Realtors through NAR believe the practice snatches many millions of dollars in unjusti-fied interest charges from sellers.

By some estimations, the primary ben-eficiaries of this long-standing practice have been loan servicers who could earn interest on the excess payments until they had to pay bond investors.

According to NAR, borrowers shelled out more than $587 million in excess interest charges in 2003 alone.

Since then, efforts to calculate payment on a per diem basis and ban full-month interest charges through legislation failed to garner support.

“FHA’s antiquated policy has placed an unreasonable and often unexpected burden on FHA consumers who already face high housing and closing costs,” NAR stated in a written comment on the FHA proposal.

The Association has been urging

FHA and Ginnie Mae to remove

this prepay-ment pen-

alty for more than ten years. Con-

ventional loans, includ-ing loans from the Veterans Admin-istration’s

Loan Guaranty Pro-

gram and the U.S. Dept. of Agriculture’s

Rural Housing Service loan program, do not have post-

payment interest charges. Even though NAR will submit

a letter prior to the deadline, anyone wish-ing to comment on the change can write by mail or via electronic submission.

Send mail to: Regulations Division, Office of General Counsel, Dept. of Housing and Urban Development, 451 7th St. SW, Room 10276, Washington, D.C. 20310-0500. Electronic submissions may be sent through the federal eRulemaking Portal at www.regulations.gov. Submit comments prior to the deadline of May 12. The Southland Regional Association of Realtors® is one of the largest local trade associations in the nation with 8,900 members serving the San Fernando and Santa Clarita valleys.

Santa Clarita Legislative and Community ForumRegister now to hear a panel of eight lawmakers and regulators discuss changes that are coming to the Santa Clarita Valley.The Tuesday, April 15, Legislative and Community Forum is presented by the Santa Clarita Valley Division of the Southland Regional Association of Realtors.

Speakers include: U.S. Congress-man Buck McKeon, state Senator Steve Knight, Assemblyman Scott Wilk, Rosalind Wayman and Dave Perry, field deputies for L.A. County Supervisor Mike Antonovich, Santa Clarita Mayor Laurene Weste, Coun-cilman Bob Kellar, Dan Masnada, GM Castaic Lake Water Agency, and Arthur Sohikian, a federal, state, and local transportation consultant.

Breakfast is included in the advance $25 fee; $30 at the door. Contact Kayla Meeks at 661-299-2930 to register.