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VISIT US ONLINE @ DSNEWS.COM
FIVE MINUTES WITH
GET TO KNOW INDUSTRY EXECUTIVES BEYOND THE BOARDROOM
Desirée Patno
FOUNDER AND PRESIDENT OF THE NATIONAL
ASSOCIATION OF WOMEN REO BROKERAGES
If the election showed the country nothing else, it showed
that women, as a collective, have an undeniable voice
in issues that matter. However, in the vastness that is
American politics, one key issue was left unaddressed:
How do the millions of women interested in accessing
affordable housing make that dream a reality? Desirée
Patno, the founder and national president of the National
Association of Women REO Brokerages (NAWRB) and
Desiree Patno Enterprises, Inc., has made it her life's work
to get women active in the homeownership process. She
has spent more than 20 years in full-service REO as a
broker and encourages women to get involved on both
sides of the figurative fence.
What is the biggest dilemma women face as they try to
access housing in today's market? A lack of knowledge is
the biggest dilemma women face today as they try to access
housing in today's market. Regardless of gender, it is increasingly
difficult to qualify for a mortgage, especially after the housing crisis
of 2008. Knowledge is key; learn how to successfully position
yourself financially before you buy a home.
Women became a central piece of the conversation during
this year's election. What do you hope the president
will do to help women access affordable housing? The
Women-Owned Small Business (WOSB) Procurement Program
implemented in 2011 is a tool the government uses to meet the
target goal of 5 percent of contracts being awarded to womenowned businesses. NAWRB's coalition partner Women Impacting
Public Policy (WIPP) just won a small battle by successfully
adding an amendment to the FY13 National Defense Authorization
Act (NDAA) that removes caps for the WOSB Federal Contract
Program—a move that significantly benefits women business
owners, like future women homeowners, giving them access to
better revenue streams. President Obama's administration will have
to address the Federal Housing Administration's tough current
lending standards and first-time buyers' negativity towards the
housing market. There needs to be a specialized program that
can keep the down payment at 3.5 percent for women head of
households and education on the economic benefits of owning a
home—from taxes to the long-term investment.
Last year the Wall Street Journal ran a piece challenging
the notion of single women buying homes. Is
homeownership a good idea for women on their own?
Over the past 40 years, the makeup of the business world has
changed, including the perception and acceptance of single
women as homeowners. Women tend to be more conservative in
risk-taking, which means homeownership is a serious decision.
In today's economy, homeownership is still a good idea for single
women interested in purchasing a home. Homeownership is also
important for single women because of the economic benefits,
especially with historically low interest rates.
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