There are many powerful and inspirational women in the mortgage industry. And we're proud to announce that the list of Elite Women of 2017 selected by Mortgage Professional America includes 2 TMC Board Members and 10 members of our Network. Congratulations to these exceptional women in our industry!
TMC Board Members:
Jamie Korus-Pearce - Alliance Home Loans
Susan Meitner - Centennial Lending Group
Patty Arvielo - New American Funding
Jean Badcoing - Inlanta Mortgage
Lori Brewer - LBA Ware
Yvette Clermont - Inlanta Mortgage
Katrina Cole - Inlanta Mortgage
Lynette Hale-Lee - Wintrust Mortgage
Ciny Laffey - Inlanta Mortgage
Beeta Lecha - Spiegel Accountancy
Judy Ryan - Credit Plus
Kerry Wirth - Waterstone Mortgage
Check out the full article in Mortgage Professional America magazine here: http://www.mpamag.com/contents/e-magazine.aspx?id=74253
Spiegel Accountancy Forms Professional Alliance to Assist Mortgage Lenders in Applying for R&D Tax Credits
Spiegel Accountancy Corp. announced today it has formed a professional alliance with Bedford Cost Segregation to assist its mortgage lending clients in applying research and development tax credits as a beneficial tax strategy.
While the R&D tax credit has been around since 1981, it was recently made permanent and the incentives were expanded upon to increase opportunities for those who develop “internal-use” software, which broadens the types of businesses the credit may be applicable for. Now, certain mortgage lenders may benefit from this tax credit.
“We have partnered with the best, Bedford, to help our clients determine their eligibility for these incentives,” stated Jeff Spiegel, CPA, Principal, at Spiegel Accountancy Corp.
The R&D tax credit was designed to encourage economic stimulation and is an incentive for businesses of all sizes to invest in research and development activities and increase technological growth and competitiveness. The U.S. federal tax law provides a benefit up to 20% in the form of a non-refundable tax credit for mortgage companies that engage in qualified research and development activities. The credit, if used, can create immediate cash flow by reducing tax liability dollar for dollar. Mortgage companies that create new or improved products, processes or select technologies have the potential to take advantage of the credit.
Greg Bryant, Managing Partner at Bedford Cost Segregation said, “We’re excited about our partnership with Spiegel Accountancy Corp. and the wealth of opportunities our collaboration offers mortgage lenders.”
About Bedford Cost Segmentation
Bedford is an independent professional services firm specializing in cost segregation and innovative tax and energy solutions for the commercial real estate industry. Its tax team consists of seasoned professionals, who are well versed in the various aspects of tax law pertaining to depreciation, capitalization and expense provisions. More information can be found at https://www.bedfordteam.com/.
As Tropical Storm Cindy threatened the Gulf and East Coasts recently, flood insurance was a major topic of conversation in the US House of Representatives. After years of trying to fix the problems with the National Flood Insurance Program (NFIP) that have been building for the past fifty years, Congress now faces the deadline of the current program expiring at the end of September. If legislative solutions are not found by then, there may be major disruptions in the housing markets and potential delays in settlements for those with claims pending.
Floods are the most common and most destructive natural disasters in the United States. Ninety percent of all natural disasters involve flooding. And most important: the damage from a flood is not covered under a standard homeowner's policy.
Even if you think that you are not impacted by this because your home in high and dry, as taxpayers we are all impacted. Since its inception in 1968, the NFIP has run up more than $24 billion in debt by paying out more for damages than was collected form premiums - and as taxpayers we are all responsible for this debt. With five million flood insurance policies in effect and $1 trillion in property insured, the prospect for additional taxpayer exposure is ominous. And while the NFIP has provided a "lifeline" for many families when they needed it most after devastating weather events, arguably it has also enabled the development of high-end beach front properties that carry extremely high risk. Without the built-in subsidies for these high risk properties in the program it is likely there would be significantly fewer of these expensive properties on the beach.
There are high risks in owning property that is prone to flooding whether in a flood plain or not. But one thing is for certain: the cost to cover the risk of floods is prohibitive and the historic practice of taxpayers subsidizing the cost for people to live in these areas prone to flooding cannot be sustained. There are very divergent views on how to solve the current dilemma for existing homeowners in a flood plain, and to create a sustainable program for others wishing to buy or build there. It is a very complex issue, supported by a very complex program that literally impacts millions of homeowners. (A previous new law that called for a phase out of subsidies beginning in 2014 caused havoc in the real estate markets most impacted by this change and was subsequently removed from the law.)
At Your AHA, we are watching these legislative developments closely to ensure that we meet our mission to protect and promote sustainable homeownership for all segments of America. We will also be looking for creative solutions such as a non-subsidized program that covers all homeowners for unexpected, catastrophic losses on their home - which would help reduce the risk in the current NFIP.
TMC - Chief Operating Officer