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Foreclosure Impact on Hispanic Homeowners Makes Ethics Practices Crucial to Minority Community’s Recovery

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RISMEDIA, September 16, 2010—Disproportionate financial losses suffered in the Hispanic community during the housing crisis have resulted in a greater need for practitioner ethics in the community’s recovery. Tino Diaz and Yamila Ayad, the original architects of NAHREP’s Code of Trust, will discuss the moral imperative for bilingual practitioners to strive for higher standards of business practices and the association’s certification program on NAHREP Radio on September 21.

Janis Bowdler, the housing policy director for the National Council of La Raza (NCLR), will also appear on the show. She worked closely with members for a 2007 market study on business practices that contributed to the housing crisis. The show is broadcast live at 11 am to 12 pm CST at: http://www.blogtalkradio.com/nahrep.

In foreclosure states such as California, Latinos account for 48% of the region’s foreclosures. The majority of these families got subprime loans they could not reasonably afford. “Our community has suffered huge losses and the onus is on Latino practitioners and agents that work with the Hispanic market to hold themselves to a greater standard of ethics if we are to be a positive driver in the community’s recovery,” said NAHREP Chairman Alex Chaparro.

In 2007, NAHREP introduced the En Confianza, the Code of Trust and an ethics certification program. Next month, the association plans to issue an update to the program and offer members free certification training during the 2010 NAHREP/AREAA Real Estate & Marketing Conference in Las Vegas. It is the first time the course will be offered in a classroom setting.

The Voice of Hispanic Real Estate is an Internet talk radio program produced by the National Association of Hispanic Real Estate Professionals, a non-profit trade association with more than 18,000 members in 48 states and 62 affiliate chapters. The show is broadcast bimonthly and features leading Latino real estate experts, prominent industry leaders and topics that are relevant to the Hispanic real estate market and Hispanic homebuyers.

For more information, visit http://www.blogtalkradio.com/nahrep.

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