International Women's Day celebrates women's contributions and the vital role of women throughout history. It is a time to reflect on the cultural, political, and socioeconomic achievements of women. Managing Director Magda Loureiro shares a few thought on being a woman in the real estate and title industry.
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What is it like being the CEO and Managing Director of a company in a predominately and historically male industry?
​Throughout my 16 + year career in the real estate industry, I have had the pleasure of working with and being mentored by many inspirational entrepreneurial woman.

​I really have never felt that being a woman has been an obstacle in my career. On the contrary, I think my femininity and delicacy afforded me an advantage in being able to excel in the real estate and title industry.  I also vigorously support other female entrepreneurs in the industry and try to be a leader and mentor to the females that surround me.

If you could give your younger self advice, what would you say to her?
I would have probably told me to have fun, but not too much fun, and to invest in real estate as soon as possible.

Everyone always gave me the advise to find work that you love, but I think you need to look for work that makes you money so you can do the things you love.  I would tell myself to negotiate hard for the things I want. You cant be afraid of risk or failure or you will never excel in any career. The worst thing that can happen is that you don’t get what you want, so it never hurts to ask.

​I would tell myself to know my worth and make sure others can see it too. It's not about what you know, but who you know and a strong network and a recognizable brand will lead you to success.

What does it mean to be a woman today?
I think it is impossible to define what it means to be a woman in this short paragraph. A woman can be anything they want to be. I think some women were meant to be mothers and homemakers, and some were meant to be athletes and some were meant to be entrepreneurs and some, all three.

For me being a woman means living a life that I am proud of, filled with love and successful achievements and being surrounded by my family and friends who I can support.

​Miami is a flourishing and ever-growing city. A fast-paced environment that demands companies to follow its growth. Here, at Sun Life Title, we plan to keep you up to date on what’s happening around our community from the latest trends in the industry to upcoming events in South Florida. The goal is to help build a network for like-minded individuals to grow better together. We intend to keep you ahead of any market updates such as the FHFA’S announcement to increase upfront fees and to help inform you about the latest news when it comes to the title industry. With that said, welcome to Sun Life Title’s blog.

Earlier this year, the Federal Housing Finance Agency (FHFA) announced targeted increases to Fannie Mae and Freddie Mac’s upfront fees for certain high-balance loans and all second home loans; these loans only apply to government sponsored enterprises. A high-balance mortgage loan is defined as a conventional mortgage where the original loan amount exceeds the conforming loan limits published yearly by the FHFA but does not exceed the loan limit for the high-cost area in which the mortgaged property is located. The 2022 conforming loan limit for one-unit properties will be $647,200, while the loan limit for a high-cost area is $970,800.

The new fees will go into effect starting April 1st, 2022. The upfront fees for high balance loans will increase between 0.25 percent and 0.75 percent depending on the buyer’s loan-to-value ratio (LTV). Mortgage lenders use LTV to determine the risk of a loan: The higher your down payment, the lower your LTV ratio. For second home loans, upfront fees will increase between 1.125 percent and 3.875 percent.  Keep in mind, that upfront fees are typically reflected in the interest rate.

Most high-balance loans will be impacted unless they are part of certain protected programs— such as HomeReady, Home Possible, HFA Preferred, and HFA Advantage. First-time homebuyers in high-cost areas with incomes at or below 100% of the area median income will also be exempt from the new high-balance upfront fees.

At Sun Life Title, we plan to keep you ahead of the game through our newsletter and blog posts. Please reach out to us at [email protected] if you’d like to learn more about this month’s blog or if you’d like us to cover a specific subject with next month’s newsletter. Your feedback helps us cater to your needs.

Bibliography:
FHFA Announces Targeted Increases to Enterprise Pricing Framework | Federal Housing Finance Agency, https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Targeted-Increases-to-Enterprise-Pricing-Framework.aspx.

FHFA Announces Conforming Loan Limits for 2022 | Federal Housing Finance Agency, https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Conforming-Loan-Limits-for-2022.aspx.

“What Is a Loan-to-Value Ratio and How Does It Relate to My Costs?” Consumer Financial Protection Bureau, https://www.consumerfinance.gov/ask-cfpb/what-is-a-loan-to-value-ratio-and-how-does-it-relate-to-my-costs-en-121/#:~:text=The%20loan%2Dto%2Dvalue%20(,will%20require%20private%20mortgage%20insurance.