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48 HUD AND SEC FIND A COMMON OPPORTUNITY Department of Housing and Urban Development (HUD) Secretary Ben Carson recently released a statement applauding the Securities and Exchange Commission's (SEC) efforts to encourage Main Street capital investment in Opportunity Zones. "Opportunity Zones provide a community-specific incentive for long-term investment," said Jay Clayton, Chairman, SEC. "e SEC staff statement and guidance about Opportunity Zones demonstrate that Main Street investors can invest in their communities in a manner that is compliant with our securities laws." "Opportunity Zones have the ability to enhance thousands of communities and improve millions of lives across the country," Carson said. "e steps the SEC has taken will help unlock more investments into Opportunity Zones, and more investment means better outcomes for the residents of these distressed communities." In 2017, President Trump signed the Tax Cuts and Jobs Act, creating Opportunity Zones to stimulate long-term investments in low-income communities. e initiative offers capital gains tax relief to those who invest in these distressed areas, and the tax incentives are anticipated to spur $100 billion in private capital investment in these areas. On Fox News' e Next Revolution with Steve Hilton earlier this year, Carson noted that Opportunity Zones were set up to enable private investors to reinvest profits into designated areas, and investors "are going to invest that money somewhere." He noted private investors would do what they do because they "want to be successful." "Whether you call them Opp-Zones, OZones, or OZos, the investment flood is coming to a low-income census tract near you," Charles Tassell, COO for the National Real Estate Investors Association, told DS News earlier this year. "While digesting the rules, it would be a good idea to find out where those areas are near you and prepare for investments and options for investments there—before the December 31, 2026 deadline," Tassell added. "e summary of benefits includes deferred taxes on the investment in an opportunity zone, deferred taxes on income reinvested in opportunity zones, and tax forgiveness on improvements in the value of the building at sale time in opportunity zones—if it is held for 10 years." Flexibility + Scalability 300+ financial institutions are benefiting from SWBC's flexible insurance tracking programs WHY SWBC? More than 30 years of lender-placed insurance experience Managing General Agent model leverages multiple "A" rated carriers Choose from multiple program options Lender-Placed Insurance Programs for Mortgage Servicers © 2019 SWBC. All rights reserved. 1055-A3145 0219 Learn more at swb.us/tracking Lender-Placed Insurance Real Estate Owned Insurance