Thomas Reports was created in 2006. For over 30 years Fred Thomas, III developed a successful career in real estate financing, focused on consumer lending. He is a licensed broker (DRE 01097630) and has managed over two-thousand closed transactions. ThomasReports was created to weave writings and passions under one platform; Real Estate, History, Travel & Culture, Politics and Technology. In today's social media demands, Thomas' voice has been recognized as an official Influencer, Tester and Reviewer for international marketing organizations.
Lorraine Motel. Site of where Dr. King was assassinated. April 4, 1968. photo courtesy of Fred Thomas, III collection
Today many across the nation and throughout the world pay respect to Rev., Dr. Martin Luther King, Jr. It was this day, fifty-one years ago when he was slain by an assassin’s bullet. The result was a public outcry not seen before, as over 100 cities erupted in riots and demonstrations.
1963-1983
Several weeks ago, the Broad museum opened Soul of a Nation chronicling twenty years; 1963-1983. It is a powerful exhibit showcasing African-American artist who used their talent to communicate the movement and the struggle during that era. Interestingly, several of the artist used Dr. King’s death in 1968 as a backdrop for their artistic talent.
The exhibit is a “special presentation” so the cost is $18 per person, however The Broad is offering free admission to Soul of a Nation every Thursday from 5-8 p.m. (last entry at 7 p.m.) during the exhibition’s run. A tip is to arrive early and stand in the “free general admission line” AND GET INSIDE THE MUSEUM. Once you are inside, you are good because at 5 p.m., the exhibit opens for general admission viewing. The exhibit runs through September and then moves to San Francisco at the De Young museum, which opens in October 2019.
From Negroes to African-Americans
I had a chance to visit the exhibit. Some of the artwork brought back vivid memories. There was an abundance of material I had never seen but it reflected the interpretive period. Sometimes we live in historic times and do not realize it as it seems like life as usual. The Harlem Renaissance was a benchmark period for African-American music and art. Years followed and the civil rights era brought back similar expressions as artist appeared in droves to interpret that era. It was a new time, a new level of consciousness as Negroes morphed into African-Americans and created a new dynamic. The exhibit does a great job of showcasing that period featuring very good diversity among the art work presented.
Listed below is a small sample of some photos from the exhibit
Entry to exhibit
Murals were a cornerstone for expression
Fred Hampton
Black Panthers
March on Washington
The Broad Museum - 221 S. Grand Avenue Los Angeles, CA 90012
Above photo – courtesy of Matthew Staver/Bloomberg via Getty Images
(Photo by Justin Sullivan/Getty Images)
Home ownership is the key asset for most homeowners. To help fund the purchase of a home, FHA (Federal Housing Administration) has been a vital mortgage program to help define middle-class status.
The mortgage crisis of 2008 forced many leaders to shut down. However, it was the FHA program which became a safety zone for borrowers needing legitimate financing featuring low down payment. It also allows lenders who were on the fringe to use the program to help stabilize their business.
Recently FHA made some changes to the program. It has been the projected approximately 40,000-50,000 borrower per year will be affected and some in that population are in jeopardy in being able to ultimately qualify for a mortgage. Due to current mortgage data there has been an increase in borrowers opting for cash-out. Additionally, debt-to income levels have seen an increase and overall credit scores have declined.
“We have continued to endorse loans with more and more credit risk,” said FHA’s Chief Risk Officer Keith Becker. “We felt that it was appropriate to take some steps to mitigate the risks we’re seeing.”
Those factors are just three highlighted by FHA now requiring those who may be considered less creditworthy but still in the ballpark of qualifying for a mortgage will no longer be able to use automated underwriting. Instead, due to their marginal circumstance, their loan package must now be manually underwritten. For lenders going back to the traditional process will be costlier to them due to the time required to conduct the underwriting. Due to the manual process, lenders may not be as eager to approve the loan fearful in the event of default their decision could be challenged and result in buy-backs or other negative impacts, which could affect their business.
“it’s likely that many of the loans flagged for manual underwriting won’t end up passing muster.” Chief Risk Officer Keith Becker, FHA
So, while owning a home is still considering “the American Dream” the key to making it a reality is making sure your credit package is not part of the projected population. Of course, for some they very well may be willing to take a chance and go through the manual underwriting gauntlet as some will be successful.
The long-awaited Special Counsel report produced by Robert Mueller was delivered to Attorney General William Barr this past Friday. Donald Trump, his administration and band of supporters are claiming victory that the report did not find him conspiring with the Russia government during the 2016 presidential election.
But, did the Mueller report really clear him? As predicted, Trump and his pundits which have flamed throughout media have misstated the conclusions reached by claiming he has been totally exonerated.
“Mueller did not find Trump or his campaign conspired with Russia, also did not exonerate him on obstruction”
The spin
WASHINGTON, DC – MARCH 24: (CHINA OUT, SOUTH KOREA OUT) U.S. President Donald Trump speaks to members of the media as he returns to the White House after spending the weekend in Florida March 24, 2019 in Washington, DC. Trump returns to Washington as Special Counsel Robert Mueller has concluded his investigation into allegations of Russian interference in the 2016 presidential election. (Photo by The Asahi Shimbun via Getty Images)
While team Trump spins the news that they have been absolutely vindicated by the report, a closer evaluation shows a much different summary. Prior to Robert Mueller being pulled in to investigate allegations against Trump, for the most part his life was private, especially those related to his financial dealings.
No report would have been necessary…….
Once he summarily fired James Comey, he inadvertently triggered the investigation as we know it. During that period of countless tweets, threats and other commentary never seen before by a United States president became an unfortunate side show.
Unfortunately for Trump, yes Mueller did not find a conspiracy with the Russian government. But what Mueller did find and was crafty enough to move from his specific mandate, was uncover a long history of Trump behavior which have led to criminal investigations. The Mueller report has completed and those actions will not be handled by the Special Counsel’s office. Instead other jurisdictions have taken the baton which have more freedom in their pursuit of justice and the end result is Trump is now more vulnerable than if the report had not been initiated in the first place.
The bigger picture
So, while Trump’s opponents voiced dismay of the Mueller report not providing the results they were seeking, their thirst for a Trump take-down blindsided many from seeing the bigger picture. Once they awaken from their nightmare of Trump escaping any of the Mueller indictments, they will see he actually did them a huge favor by sending the investigations to other jurisdictions.
Once Trump and his team finish their victory lap and admonishing those who they have defined as their enemies, a gauntlet of criminal investigations await them:
The hush money investigation
Trump’s inauguration funding
Pro-Trump super PAC
Trump Organization insurance policies
Trump Organization real estate deals
The Trump Foundation
Trump’s taxes
Trump’s golf club employing undocumented immigrants
ABOVE CAPTION. President Trump Announces The Nominee For Federal Reserve Chair Of The Board Of Governors
Jerome Powell, governor of the U.S. Federal Reserve and President Donald Trump's nominee as chairman of the Federal Reserve, speaks as Trump, left, listens during a nomination announcement in the Rose Garden of the White House in Washington, D.C., U.S., on Thursday, Nov. 2, 2017. If approved by the Senate, the 64-year-old former Carlyle Group LP managing director and ex-Treasury undersecretary would succeed Fed Chair Janet Yellen. Photographer: Andrew Harrer/Bloomberg via Getty Images
“It is my pleasure to announce that @StephenMoore, a very respected Economist, will be nominated to serve on the Fed Board. I have known Steve for a long time – and have no doubt he will be an outstanding choice! @realDonaldTrump “
If your ambition is to serve as part of the Donald Trump administration, it helps to be part of the FOX network, speak negatively about the Obama administration or communicate in the media your disdain for someone in the current administration who happens to be in “hot water” with Donald Trump or his acolyte’s. This morning it was Steven Moore’s turn to see if he can parlay his loyalty to Trump and go through the nomination process.
Stephen Moore, visiting fellow at the Heritage Foundation, listens during a Bloomberg Television interview in Washington, D.C., U.S., on Friday, March 22, 2019. President Donald Trump said he’s nominating Moore, a long-time supporter of the president, for a seat on the Federal Reserve Board. Photographer: Andrew Harrer/Bloomberg via Getty Images
Powell’s dilemma
The Federal Reserve is an independent body with the task of establishing monetary policy. Currently there are two openings on the board. Current Board Chair Jerome Powell has been in the crosshairs of Donald Trump for some time. It doesn’t matter that Powell, a life-long Republican was recently nominated by Trump to his current post less than two years ago. During that period the stock market hit some low marks. Rather than blame himself for the policies he adopted which most economist indicated was the reason for the decline, Trump found a new foe in Powell and suffered the wrath and the blame. Similar to so many officials Trump has appointed, many are independent and do not report or work for the White House. Their role is to work on behalf of the citizens of the United States of America.
Unfortunately as soon as whatever work they are doing intimates something Trump or the White House dislikes, they are admonished and chastised for not being a “team player.”
I only hire the best!
During the 2016 presidential campaign and leading up to naming key administration staff, Trump would boast, “he’d “surround myself only with the best and most serious people” — adding: “We want top-of-the-line professionals.”
That may result in a good sound-bite but the results to date have been a big flop. More than a few people who had the aspiration to be part of team Trump has resigned, summarily shown the front door or indicted due to criminal behavior, while their dreams went up in flames.
Being a panderer has its benefits
In some circles, Moore has been viewed as the ultimate panderer known for making nervous smiles during his stint as a cable-news analyst. He has demonstrated the willingness to support anything and everything spouted by Donald Trump. His behavior has been very similar to those who are publicly interviewing for administration post’s knowing full-well of Trump’s appetite in spending as much time as possible consuming media.
The editorial
Up until this morning Moore was an analyst for CNN.
“Moore joined CNN as a contributor in early 2017. Given this news, he is no longer with the network, a CNN spokeswoman confirms.” CNN Chief Correspondent @brianstelter
He was known for his commitment to never admit anything negative about Donald Trump or his administration. Despite tremendous documentation and evidence to the contrary, Moore’s would presents arguments that might result in an “F” grade in the most basic debate class. His position was to always deny the obvious.
As mentioned, similar to other appointees Moore’s performance caught the attention of Trump. But perhaps the thing that sealed his nomination was his March 13, 2019 editorial to the Wall Street Journal which blasted current chair Powell and blamed him for the concern about Wall Street. This surely supported Trump’s attitude who in turn suggested to Economic Advisor, Larry Kudlow that Moore is just the type of person to fill one of the Fed vacancies.
Interestingly, many view the Federal Reserve as a prestigious organization where top economist who hold pHD’s wind up. Moore’s resume does not compare to those who currently sit on the board. Absent of a pHD, for the past three years his core employment was being a pundit for the Trump administration.
While Trump’s tweets are considered official communication, Moore indicated he has not received a firm offer. Assuming it comes later today or within the next several days the next step is to go through the nomination process. The big question is whether Trump is appointing Moore because he truly is competent and can improve the body or is he being positioned to promote his views as articulated in his March 13th op-ed.
Old American car drives near the Cuban telecommunications company ETECSA building in Havana, on February 28, 2019. – The European Union as well as Cuba faces a nervous wait as the countdown to US President Donald Trump’s March 17 deadline to activate sanctions against the Caribbean island nation approaches. Trump has broken with two decades of precedence in threatening to activate the Title III of the Helms-Burton Act, which extended the US embargo to apply to foreign companies trading with Cuba. (Photo by YAMIL LAGE / AFP) (Photo credit should read YAMIL LAGE/AFP/Getty Images)
On March 4th, Secretary of State, Mike Pompeo announced the United States has suspended Title III of the 1996 Cuban Liberty and Democratic Solidarity (LIBERTAD) against Cuba.
The move is another twist of the administration’s zeal to thwart any progress made by the Obama administration regarding rebuilding relations between the two countries.
Ironically, Title III had been waived by presidents since 1996 and had been renewed consistently until the announcement by Pompeo. The act essentially allows Cubans who fled the country and landed in the United States following the 1959 revolution to sue in an attempt to reclaim land and property which was claimed by the government. Whether they will be successful in court is undefined at this time.
While the move appears pretty straight-forward, many international experts have a different perspective. Cuba is the largest country in the Caribbean and known for its independence and endurance. In addition to being an ally to communist regimes, they have been a big supporter of Venezuela and their support of the Maduro government.
The 1959 Revolution resulted in those not supporting the new regime to flee leaving property and other assets which the government used to rebuild the country. No doubt the issue is controversial and bitter feelings still exist from those who were exiled. However, some view the Trump Administration’s action as basic retaliation for the country supporting someone in another country who they do not support. As mentioned Pompeo indicated the move will be revisited in 30 days.
Like many things with this administration, it is unclear how many lawsuits may be brought or their probability of success.
This morning, longtime Trump ally, Israeli Prime Minister Benjamin Netanyahu was indicted on corruption charges.
Sometimes you just have to stop and ask a critical question? Why is it so many people who consider themselves a close ally or an associate of Donald Trump find themselves under indictment, if not already convicted of criminal behavior?
WASHINGTON, DC – MARCH 5: (AFP OUT) U.S. President Donald Trump (R) and Israel Prime Minister Benjamin Netanyahu meet in the Oval Office of the White House March 5, 2018 in Washington, DC. The prime minister is on an official visit to the US until the end of the week. (Photo by Olivier Douliery-Pool/Getty Images)
No doubt Trump supporters will vehemently dismiss such a question as a massive witch hunt, pure jealously by those who dislike him or simply those hellbent on trolling for any negative news that he might be connected.
Unfortunately, like a heartbeat the throbbing question remains and deserves some type of legitimate response. It becomes a bit silly when Donald Trump and his supporters belt-out their choral refrain “There’s No Collusion, There’s No Russia interference!!!” Yet, all of the lads listed below have suffered the wrath of being entangled in the legal system investigating Donald Trump.
image courtesy of Axios
What is it about people who maintain a confident or even arrogant position about their leadership who continue to dangle on the fine line of being a sincere servant or using their office as a criminal conduit?
Stay tuned………….in case you missed the Michael Cohen congressional hearing yesterday here is a clip of him admonishing those who blindly follow Trump and the peril they may encounter.
The basic benefit of home ownership is shelter. Another critical benefit is it is an asset and valued based on normal market conditions.
Equity is the value of your property less encumbrances (loans, liens, etc.)
Lendable equity is the amount of EQUITY can borrow.
Most prudent lenders have limitations on what percentage you can borrow. Typically for the best rates/programs you can’t exceed 80%, however it is not uncommon to see programs where you can borrow ALL of your equity.
Many homeowners tap into their lendable equity to fund a variety of personal items. On some occasions the lender may restrict how you can use your lendable equity but for the most part it belongs to you to do as you choose.
About seven years ago I first heard of a program that seemed too good to be true! Simply, the country of Cuba had a program where students could gain their medical education, training and degree at no cost to them. Med school cost are crippling for most and range from $140,000 – $175,000 and that is just tuition. When you factor in room & board, meals, supplies and other things the cost can easily skyrocket to nearly $500,000.
My treks started in 2014 and due to needing laser-focus energy on my two topics; Race in Cuba and the Old Negro Leagues in Cuba, I forgot about the program.
Fiction or Non-Fiction
Just like you I love entertainment. The problem I have is limited time so when it comes to reading or viewing screenings, as a historian I tend to focus on non-fiction or real-life issues. Maybe that is the reason I prefer documentaries? The Pan-African Film Festival (PAFF) kicked off its 27th year last Thursday.
Lo and behold one of their features is “Dare to Dream.” It is a riveting documentary that chronicles med students earning their credentials in Cuba.
(courtesy of Pomona Valley Med Center) Completing his residency at Pomona Valley Medical Center. Resident Year: 2019 Undergraduate School: The University of Oklahoma, Norman, Oklahoma Medical School: Escuela Latinoamericana de Medicina
In 2000, a delegation representing the Congressional Black Caucus had the courage to visit Cuba and meet with Fidel Castro. Part of their discussion was the pathetic health care African-Americans and other minorities had to deal with. Later that year members of the Cuban Health ministry visited the group in New York and announced Castro was creating a program for the population affected to complete their studies in Cuba and the cous de gras was there was absolutely no cost.
Approximately half of the initial scholarships were targeted for African-American students. The remainder were for Latino and other ethnic minorities who came from underserved communities.
The Escuela Latinoamericana de Ciencias Médicas (ELAM) program initially offered 500 scholarships total for US students. Thus far nearly 200 US students have graduated and nearly 30,000 students from over 100 countries worldwide have benefitted. IFCO is the organization which identifies and places students in the program.
As for those from the United States, they are placed in hospitals all over, including Pomona Valley Medical Center.
The documentary has two more screenings before PAFF ends. To be informed and see for yourself this remarkable program I would encourage you to attend PAFF or purchase the video.
Legendary Gospel and R&B artist Aretha Franklin will kick-off the 27th annual Pan-African Film Festival. The never seen documentary which featured Franklin’s historic album – “Amazing Grace” will finally hit the big screens. Through all of the years since the 1972 concert was filmed, due to various reasons it had never been shown.
The filming will be seen tonight at 7:30pm at the Director’s Guild located on Sunset Blvd. in Hollywood. The rest of PAFF’s extraordinary lineup of independent films showcasing producer’s across the diaspora will be seen at the Rave Cinemark theaters in Baldwin Hills at the Baldwin Hills Crenshaw Plaza shopping complex.
A little nugget of history
Watts is a community in Los Angeles. It was always known as a place many came to call home following the migration of African-Americans moving from parts of the South. In 1965, due to feeling abuse, discrimination and the basic lack of upward mobility, some members of the community erupted and the riot which followed became known as the “Watts Riots.”
Through the years which followed the name Watts became synonymous with anything bad or negative. As Los Angeles continued to grow, African-Americans moved in greater numbers to all parts of the city. It was not uncommon to see various media reports mention any place where African-Americans lived in Los Angeles described as Watts. More specifically some reports mentioned any place south of the Santa Monica freeway as being in Watts!
Historically, that is laughable if not insulting to the many who lived in Watts and were proud citizens. The community of Watts is fairly small. The north/south boundary is Firestone (Manchester) to the north and Imperial Highway to the south. The east/west boundary is Central Avenue to the west and Alameda Street to the east.
The reason this tidbit or perspective is mentioned is many who have come to know about the famous concert Mrs. Franklin performed in debuting Amazing Grace have listed the origin as taking place in Watts. Unfortunately that is not correct. New Temple Missionary Baptist Church is at 87th Street and Broadway and was erected in 1966. That location has never been in Watts as it has always been in what is known as South Central Los Angeles.
For more information on PAFF and the 150+ screenings, click HERE
“Frank Robinson’s resume in our game is without parallel, a trailblazer in every sense, whose impact spanned generations,” Commissioner Rob Manfred said. “He was one of the greatest players in the history of our game, but that was just the beginning of a multifaceted baseball career.” Rob Manfred, Commissioner – Major League Baseball
Baseball legend Frank Robinson passed today at 83. The announcement was made today by Major League Baseball. For the past several weeks he was in hospice and while his passing does not come as a surprise, it rekindles the greatness he displayed as a player and all-around talent in major league baseball.
iconic shot from 2016 Jackie Robinson Day at Dodger Stadium. Frank also was there to support Mrs. Rachel Robinson and his dear friend Dodgers legend Don Newcombe.
Following in the footsteps of Jackie Robinson, in 1956 Frank broke in with the Cincinnati Reds. The rest is history. He was known for his fierce competitive spirit; as a player, a manager and executive within the league. Robinson shunned fraternization which is prevalent in today’s game. Perhaps, because players lack the same team loyalty that once was common-place among teams during Robinson’ era. They move around within the thirty teams at a more frequent pace as putting in more than five years with a team might be considered rare.
During Robinson’s era once the players hit the dugout to prepare for the game, it was unheard of for players to greet those from the opposition or even share a positive nod, let alone embrace them…..even though they may have been lifelong friends.
While Jackie is known for the player to break the color-barrier in MLB, Frank goes down as the manager who did the same.
“Frank use to tell us, we don’t talk to the other team…..we just beat them!! Former Oriole teammate and Hall of Famer Jim Palmer
Thomas Reports 