Caroline Gilroy Brown Chair Mass. Mortgage Bankers Association
Name: Caroline Gilroy Brown
Title: Chair, Mass. Mortgage Bankers Association
Company: AAA Southern New England
Location: 110 Royal Little Dr., Providence, R.I. 02904
Birthplace and year: Providence, 1962
Family: Husband, Tom; children: Matt, Meredith
College: Providence College, BA in Political Science; JD, Syracuse University College of Law.
First job in finance or allied field: Tillinghast Collins & Graham, associate
attorney.
What do you do now and what are you planning for the future? We work to have the MMBA charitable foundation become self-supporting. We have a new community reinvestment organization on the part of mortgage lenders. We work with the Mass. Mortgage Association to provide educational and lending compliance programs for loan officers.
Hobbies: Reading (especially Civil War subjects), surfing, bike riding, cooking.
Favorite book: "Manhunt" by James Swanson
Favorite movie: "Sound of Music"
Keys to success: Work hard, be as competent and capable as you can.
If you had to choose another vocation what would it be? Charitable activities
How many of you remember real estate development in the late 1980s? Project sourcing was difficult, until it wasn’t. Into the 90’s, a few years after, banks and other financial institutions were very happy to fund projects.
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.