The Justice Department announced today a $5.28 billion settlement with Credit Suisse related to Credit Suisse’s conduct in the packaging, securitization, issuance, marketing and sale of residential mortgage-backed securities (RMBS) between 2005 and 2007. The resolution announced today requires Credit Suisse to pay $2.48 billion as a civil penalty under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA).
In 2015, Lawrence Berkeley National Laboratory (Berkeley Lab) and UC Berkeley announced a partnership with Tsinghua University in Beijing. They formed the Berkeley Tsinghua Joint Research Center on Energy and Climate Change, a center helping to develop scientifically based clean energy solutions and the next generation of leaders to champion those solutions
The Urban Land Institute (ULI) has launched a new podcast series, Leading Voices with ULI, which offers personal leadership stories from some of the most innovative professionals in the real estate and land use industries.
U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro today awarded $10 million in “sweat equity” grants to four non-profit self-help housing organizations through HUD’s Self-Help Homeownership Opportunity Program (SHOP). This funding will create at least 539 affordable homes and significantly lower their purchase price for low-income buyers, who will contribute their own labor toward the construction or rehabilitation of these units.
Justice Department Reaches Settlement with Duke Energy Corporation for Violating Premerger Notification and Waiting...
The Department of Justice announced today a settlement with Duke Energy Corporation (Duke) for violating the reporting and waiting period requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act). The settlement requires Duke to pay $600,000 in civil penalties to resolve the department’s charges that, after agreeing to purchase the Osprey Energy Center (Osprey) from Calpine Corporation, Duke took control of Osprey’s business before filing required HSR Act notifications and waiting for the expiration of the mandatory waiting period for antitrust review.
Today, a coalition of local and national community and conservation groups filed a motion to participate in two lawsuits that seek to undermine the Stream Protection Rule. The rule, an update to the standards intended to protect clean water and other natural resources threatened by surface coal mining operations across the nation, was issued December 19, 2016, by the Department of the Interior’s Office of Surface Mining Reclamation and Enforcement, after almost a decade of work
Local developers C & C Properties, Inc. and MarkChris Investments announced their plans for the revitalization of East Hills Mall in Bakersfield, Calif. The vision is to transform the enclosed mall into an exciting, destination open-air lifestyle center offering a collection of restaurants, shopping and entertainment in 350,000 square feet. A new, state-of-the-art, movie theater complex will serve as the centerpiece of the new development. The redevelopment project is expected to break ground late in the second quarter or early third quarter of this year, and be completed in the third quarter of 2018. More...
The Federal Trade Commission has charged Credit Bureau Center LLC and three individuals with luring consumers with fake rental property ads and deceptive promises of “free” credit reports into signing up for a costly credit monitoring service.
Builder confidence in the market for newly-built single-family homes remained on firm ground in January, down two points to a level of 67 from a downwardly revised December reading of 69 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI)
Opes Advisors, a financial services firm with headquarters in Cupertino, California is relocating its Santa Barbara office to a more convenient location in the Presidio Avenue area of downtown at the end of this month. The innovative mortgage lending firm has been helping Santa Barbara-area residents achieve their dream of homeownership since 2014
The Justice Department, along with federal partners, announced today a $7.2 billion settlement with Deutsche Bank resolving federal civil claims that Deutsche Bank misled investors in the packaging, securitization, marketing, sale and issuance of residential mortgage-backed securities (RMBS) between 2006 and 2007. This $7.2 billion agreement represents the single largest RMBS resolution for the conduct of a single entity. The settlement requires Deutsche Bank to pay a $3.1 billion civil penalty under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA).
Motor and Equipment Manufacturer’s Association, the trade association for motor vehicle and mobility suppliers and parts manufacturers and remanufacturers, announced today plans to relocate its corporate headquarters within Research Triangle Park.
Furthering President Obama’s comprehensive Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, U.S. Secretary of the Interior Sally Jewell and the Bureau of Ocean Energy Management (BOEM) Acting Director Walter Cruickshank today announced that 122,405 acres offshore Kitty Hawk, North Carolina will be offered in a commercial wind lease sale on March 16, 2017.
NAHB Chairman Granger MacDonald, a builder and developer from Kerrville, Texas, issued the following statement on the Supreme Court's decision to take up the dispute over which lower courts can hear challenges to EPA's rule defining "waters of the U.S." in the Clean Water Act
SummerHill Housing Group Announces Executive Management Reorganization and Promotions to Support Strategic Growth
SummerHill Housing Group, the umbrella organization for SummerHill Homes, an award-winning residential builder, and SummerHill Apartment Communities, an apartment, mixed-use infill rental housing developer, today announced executive management reorganization and promotions to support the group’s strategic growth. Chris Neighbor, who has been serving as SummerHill Housing Group’s Executive Vice President / Managing Director, has been promoted to the position of Chief Operating Officer of SummerHill Homes.
The Modular Building Institute (MBI) published "Saving Time with Modular Bathroom Pods," a whitepaper that provides an overview of bathroom pods answering the pertinent questions of when they should be used on a project, costs, installation, and showcases the advantages of using bathroom pods on a construction project. The whitepaper also includes case studies across various markets that successfully integrated bathroom pods
There are many steps in the home buying process, even after the contract has been signed. Many real estate agents would agree getting a signed contract is only half the battle. Then you have a month or two to get everything lined up and approved before the deed can be transferred
The real estate industry’s leading source of news and analysis named Ben Caballero, the top agent in the nation based on sales and transaction volume, as one of the real estate industry’s most influential leaders for 2017. Addison, Texas-based Caballero also was named a SP2017 Trendsetter, generated by Swanepoel T3 Group, which recognizes “innovators, dealmakers, and movers-and-shakers.”
It is with great honor that we announce the addition of Barbara Ross, Vice President of Human Resources and Employee Development to Conifer. “I have known Barb for many years and have worked alongside of her at another organization,” stated Mark Benotti, Vice President of Shared Services. “She is a true professional and owns a strong record in shaping human resource business strategy, providing Conifer the leadership needed to elevate us to another level.”
International award-winning firm KTGY Architecture + Planning is pleased to announce that Solaira at Pavilion Park in Irvine has won the Silver Award for the “Best Senior Housing, Multifamily” in the Best In American Living™ Awards (BALA) by the National Association of Home Builders’ (NAHB). In its 33rd year, BALA recognizes outstanding achievement by builders and design professionals in all sectors of the residential industry, including single-family production, custom, rental, affordable, interiors, remodeling, community and international
Renwick Congdon, CEO of Bellevue-based Imprev (www.imprev.com), was named to the Swanepoel Power 200 (SP200), a definitive ranking of residential real estate's 200 most powerful leaders. Renwick joins more than a dozen other Seattle-based leaders, who combined make up 15% of the SP200 list.
As they grow less confident in the economy, top real estate executives at firms of all sizes find themselves united by a key concern for 2017: Agent recruitment and retention.
Despite his self-professed expertise on the topic and grandiose pronouncements as the homelessness crisis in New York reached record levels, Gov. Andrew Cuomo has racked up a series of staggering homeless policy failures in recent years.
The U.S. Department of Housing and Urban Development (HUD) is awarding $33 million to build systems intended to end youth homelessness in ten local communities, including four rural areas. HUD's Youth Homelessness Demonstration Program (YHDP) will support a wide range of housing programs including rapid re-housing, permanent supportive housing, transitional housing, and host homes.
In an effort to respond quickly when young children living in federally housing experience elevated levels of lead in their blood, the U.S. Department of Housing and Urban Development (HUD) today published a new rule lowering the Department's threshold of lead in the child's blood to match the more protective guidance of the Centers for Disease Control and Prevention (CDC).
ew Hanover County and the City of Wilmington’s Ad Hoc Committee on Improving Workforce/Affordable Housing has updated its meeting schedule for the beginning of the year.
Eight years ago, Donald Trump and his children—Ivanka, Donald Jr., and Eric—joined dozens of other business leaders on an open letter to world leaders urging them to secure an ambitious global agreement on climate change. At the time, they called the consequences of inaction “catastrophic and irreversible” and the science supporting these facts “irrefutable.” The signees argued that investing in a clean energy economy was the right way to mitigate the harmful emissions putting the planet at risk
The U.S. Department of Housing and Urban Development (HUD) today awarded approximately $15 million to select owners of HUD-assisted senior housing developments to help their low-income senior tenants to age in their own homes and delay or avoid the need for nursing home care. HUD will cover costs related to hiring a full-time Enhanced Service Coordinator and a part-time Wellness Nurse to connect the elderly with
Ranking Member of the Senate Energy and Natural Resources Committee Maria Cantwell (D-Wash.) applauded the U.S. Department of Energy’s new report on national energy employment and urged support of energy workforce training programs.
The U.S. Department of Energy today released the agency’s second annual analysis of how changes in America’s energy profile are affecting national employment in key sectors of the economy. By administering a new supplemental survey to over 30,000 energy sector employers, the Department’s 2017 U.S. Energy and Employment Report (USEER) tracked dramatic growth in several key sectors of the U.S. economy in 2016.