Real Estate Finance Committee Sheraton Grand Hotel Grand Nave Ballroom, Gardenia Room Sacramento, CA Thursday, June 8, 2006 9:00 AM – 11:30 AMPlease Note: Only the C.A.R. Board of Directors may take action on behalf of the California Association of REALTORS®; not individual committees. The Summary of Action Items for the Board of Directors may be found athttp://www.car.org/index.php?id=MzYzNzc=. The archive section for each committee, including meeting materials for each committee, may be found at https://www.car.org/index.php?id=MjMy. Set out below is a summary of Real Estate Finance Committee activity, including the additional action on those items (if any) by other C.A.R. bodies.
CALL TO ORDER
The Chair convened the meeting of the Real Estate Finance Committee at 9:00 AM.
AGENDA ITEMSAll agenda items were discussed as listed.ACTION ITEM – FHA Home Equity Conversion Mortgage:
A motion was made and seconded:That C.A.R., in conjunction with NAR, “SUPPORT” a new FHA Home Equity Conversion Mortgage (HECM) for purchase product.Real Estate Finance Committee: Approved Federal Issues Committee: Approved Executive Committee: Approved Board of Directors: Approved