You are currently browsing the daily archive for March 16, 2012.

Mark Burns and Minh Ngo, executive director of CEEF, show members the sign that can be placed on the yard of property they sell that shows they support the schools when they participate in the sign rider program.

The Cupertino Educational Endowment Foundation (CEEF) thanks SILVAR and members of the Cupertino/Sunnyvale District for their longtime support for the Cupertino Union School District (CUSD).  CEEF supports public education for students by working in partnership with CUSD, parents, and the community to raise funds for educational programs beyond what is possible through federal and state funding.

At yesterday’s district tour meeting, CEEF executive director Minh Ngo thanked members for supporting “An Evening of Aloha,” a gala held recently to honor CUSD’s Teachers of the Year. The gala raised $75,000 for the schools. As a result of the community’s generosity, each of the district’s 25 school sites will be granted $3,000 for music, arts, and technology programs.

Due to cuts in state and federal funding, the past few years have been rough for the schools, said Ngo. Although a parcel tax passed last year, that money cannot fund badly needed building and ground improvements at the schools. Ngo said CEEF is working very closely with CUSD and gearing up for a bond measure campaign this summer. Details about the measure are still being finalized.

Ngo said even if CUSD is the second lowest funded school district in the state, the support around the schools is unique. “There is an entire culture of support around education,” said Ngo. “Almost every individual has high expectations and rallies around the students, which in turn makes them outperform because of the support they receive.”

REALTORS® support the schools by participating in the Cupertino/Sunnyvale District’s sign rider program. REALTORS® can donate $250 of their commission for every property they sell in the school district. Signs that say they support the schools are then placed on the yards of homes they sell. REALTORS® also support sign rider programs for the Sunnyvale and Santa Clara school districts.

Mark Burns said supporting the schools is a way to give back to the community, since the quality of the school district is important for REALTORS® selling property. “Helping the schools helps all of us,” said Burns.


SILVAR congratulates the 2012 officers and board directors of the Filipino American Real Estate Professional Association (FAREPA) – Santa Clara County Chapter. The association also celebrates 10 years as a real estate organization in the South Bay.

At their installation luncheon on March 9, SILVAR Region 9 Chair Jeff Bell administered the oath of office to 2012 FAREPA President Richard Martinez, a financial advisor with Transamerica Financial Advisors; Barbara Kuang (Farmers Insurance), vice president; Jerry Quintos (Abbot, Stringham & Lynch CPA), treasurer; Paul Stewart (San Mateo County Association of Realtors), immediate past president; and Fe Casem (IBIS Universal Corporation), Evelyn Greenleaf (Consultant), Marlo Ibon (Intero Real Estate Services), Richard Miller (, directors.

SILVAR President Suzanne Yost, a guest speaker at the event, congratulated FAREPA’s new leadership team for its commitment. “It takes courage to step into leadership positions. SILVAR values its partnership with groups like FAREPA,” said Yost. “Partnerships are key to success and all real estate professionals should treat each other with care and nurture these relationships every chance they get.”

On behalf of FAREPA, Past President Stewart presented special honorary Filipino awards to Yost, Bell, and Barbara Lymberis, president of the Santa Clara County Association of REALTORS®. SILVAR Public Affairs Director Rose Meily was presented the Member for Life award. Stewart referred to the REALTOR® associations as flagships of FAREPA and other ethnic real estate groups, and thanked them for their support.

SILVAR Region 9 Chair Jeff Bell (far right) administers the oath of office to FAREPA's 2012 officers and board directors (left to right) Treasurer Jerry Quintos, Directors Richard Miller, Fe Casem, Evelyn Greenleaf and Marlo Ibon, Vice President Barbara Kuang, FAREPA President Richard Martinez, Immediate Past President Paul Stewart.

The Obama Administration has announced two initiatives to help homeowners and their families. The Administration is reducing fees for Federal Housing Administration (FHA) borrowers seeking to refinance and providing relief to servicemembers and veterans.

FHA is reducing both the upfront and annual fee for FHA borrowers looking to utilize the streamline refinance to take advantage of historically low interest rates. For loans originated prior to June 1, 2009, the upfront premium is reduced to .01 percent and the annual fee is reduced to .55 percent. The U.S. Department of Housing and Urban Development (HUD) released Mortgagee Letter 12-4, which outlines all the mortgage insurance premium (MIP) changes; increases for new purchase transactions, and decreases for streamline refinances.

The announcement includes several efforts to support servicemembers and veterans who were wrongfully foreclosed upon, wrongfully charged higher interest rates, and who were forced to sell their home for a loss due to a permanent change in service. Foreclosure protections under the Servicemembers Civil Relief Act (SCRA) are being expanded and $10 million will be paid into the Veterans Housing Benefit Program Fund. This relief will be provided by loan servicers Bank of America, JP Morgan Chase, Ally, Citi, and Wells Fargo.


March 2012


Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 69 other subscribers