U.S. Sen. Sherrod Brown (D-OH) – ranking member of the Senate Banking, Housing, and Urban Affairs Committee – issued the following statement regarding today’s action by the Consumer Financial Protection Bureau and state regulators against Ocwen Financial Corp. The CFPB alleges that Ocwen, one of the nation’s largest nonbank mortgage servicers, for years “engaged in significant and systemic misconduct at nearly every stage of the mortgage servicing process,” according to the bureau.
The Mortgage Bankers Association (MBA) today released a white paper GSE Reform: Creating a Sustainable, More Vibrant, Secondary Mortgage Market which provides a detailed picture of a reformed and revitalized secondary mortgage market. It also attempts to shed light on two critical areas that have tested past reform efforts - the appropriate transition to the reformed system and the role of the secondary market in advancing an affordable housing strategy.
Some people think about it, while others would rather not. But if you’ve ever wondered what happens to all the water that leaves your home after the dishes are done and the toilet is flushed… now is your chance to find out.
Despite moderate improvements over the first quarter of 2017, all four indexes of the National Multifamily Housing Council’s (NMHC) Quarterly Survey of Apartment Market Conditions remained below the breakeven level of 50. The Market Tightness (41), Sales Volume (30), Equity Financing (42), and Debt Financing (41) all indicated continued softening conditions in apartment markets even as demand for apartment residences remains strong.
Kiel Weaver, staff director for the Subcommittee on Water, Power and Oceans, is leaving the Committee to join the office of House Speaker Paul Ryan. Beginning May 1, Kiel will serve as the Speaker’s adviser on energy and environment issues. Bill Cooper, staff director for the Subcommittee on Energy and Mineral Resources, and Rob Gordon, staff director for the Subcommittee on Oversight and Investigations, are also departing the Committee.
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Dollar General located at 812 N Walnut Street in Avoca, Iowa for $1,213,220.
Hanley Investment Group Completes Sale of Brand New Single-Tenant Starbucks at Record-Breaking Cap Rate...
Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm has completed the sale of a brand-new construction single-tenant corporate Starbucks with a drive-thru located in Bakersfield, Calif. The purchase price of $2.65 million represented a cap rate of 4.09 percent and $1,432 psf. According to CoStar, this sale achieved a record low cap rate for a single-tenant Starbucks in Bakersfield and a record high price per square foot in the city.
House Bill 1351 unanimously passed the House Commerce committee today. House Majority Leader Ray Rodrigues, Tom Kimbis with the Solar Energy Industries Association (SEIA) and Scott Thomasson with Vote Solar issue the following statements in response to legislative activity in Florida.
MISMO, the Mortgage Industry Standards Maintenance Organization, has elevated Version 3.3 of the MISMO Reference Model standard to "Recommendation" status. "Recommendation" status is the highest possible level given to a MISMO standard. MISMO members recently voted to elevate Version 3.3 to Recommendation status based on evidence of multiple successful industry implementations.
Mortgage applications decreased 1.8 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 14, 2017. This week's results do not include an adjustment for the Good Friday holiday
Real Estate Economists Predict Moderate Growth for the Economy and Commercial Real Estate Industry...
The U.S. economy and commercial real estate industry are, in general, expected to experience moderate growth through much of 2019, according to a new three-year economic forecast from the Urban Land Institute (ULI) Center for Capital Markets and Real Estate.
On Thursday, April 20, at 2 pm, Mayor Muriel Bowser will celebrate the completion of renovations at Channel Square Apartments, a 231 unit mixed-income building in Ward 6. Committed to housing preservation for all DC residents, renovations at Channel Square include energy efficient heating and cooling, a computer lab, a community garden, and a playground
RUTGERS UNIVERSITY WINS HUD 2017 INNOVATION IN AFFORDABLE HOUSING STUDENT DESIGN AND PLANNING COMPETITION
The U.S. Department of Housing and Urban Development (HUD) announced a graduate student team from Rutgers University as the winners of HUD’s fourth annual Innovation in Affordable Housing Student Design and Planning Competition. The Rutgers team was one of four finalists to introduce a comprehensive plan for redeveloping a property owned by the Cuyahoga Metropolitan Housing Authority in Cuyahoga County, Ohio. HUD also announced a team from the University of Michigan as runner-up.
HUD REACHES AGREEMENT WITH CALIFORNIA LENDERS TO RESOLVE CLAIMS OF UNFAIR LENDING PRACTICES AGAINST...
The U.S. Department of Housing and Urban Development (HUD) today announced an agreement with a group of California mortgage lenders to resolve allegations they discriminated against a mortgage applicant based on his national origin. The complainant alleged that American Financial Network of Brea, California; Benchmark Communities of Fresno; Brigantino Enterprise of Hollister; and an employee of Benchmark Communities failed to prequalify him to purchase a home in Hollister because he is Hispanic.
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that Information and Real Estate Services, LLC (IRES) is the first CoreLogic client to make Graphiq data visualizations available to U.S. homebuyers.
Marianas residents who wish to repair or improve their homes for health or safety reasons are encouraged to attend a free information session with the U.S. Department of Agriculture’s Rural Development Program and the Northern Marianas Housing Corporation on April 18 at the American Red Cross - NMI Chapter office on Airport Road in Dandan, Saipan.
The U.S. Department of Housing and Urban Development (HUD) and the Census Bureau jointly announced the following new residential construction statistics for March 2017
The annual potential of solar energy far exceeds the world's energy consumption, but the goal of using the sun to provide a significant fraction of global electricity demand is far from being realized
The Trump administration is currently deciding whether the United States will remain in the Paris Agreement and stand by its climate commitments. The upcoming meetings of international forums—including the G-7 and G-20—will provide some clarity on the new U.S. role in the global climate effort and the international response. In the meantime, there are indications that other major economies are steadfast in supporting the climate movement.
The Solar Energy Industries Association (SEIA), the industry's national trade group, has sent a letter urging a Nevada Assembly committee to pass a pro-consumer net metering bill (AB 270). That measure would return the state to its previous net metering policy, which allowed all homeowners to sell excess electricity back to the utility and solar jobs to flourish.
The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today advocated that homeowners pursue smaller-scale renovation projects in order to maximize their potential return on investment
Following an elevated February reading, nationwide housing starts fell 6.8 percent in March to a seasonally adjusted annual rate of 1.22 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Still, new housing production in the first quarter of this year is running 8.1 percent above the pace in 2016
Planet Home Living has unveiled COVO, a collection of 10 sleek, small-lot homes in the heart of Silver Lake. The community includes a new, fully-furnished model home set to grand open on Saturday, April 22nd and is open “by appointment only” prior to the grand opening.
A coalition of clean energy groups voiced their support today for proposed interconnection changes by the Federal Energy Regulatory Commission (FERC) to improve the efficiency and transparency of interconnection requests and remove barriers to renewable energy development
With an offer of $100,000 from investor Barbara Corcoran, 2015 REach real estate technology accelerator participant and personal safety device company, Guard Llama(link is external), is officially a part of “Shark Tank” television history.
The Industry Growth Forum, hosted by the Energy Department's National Renewable Energy Laboratory (NREL), this week attracted more than 400 investors, entrepreneurs, technologists and thought leaders to Denver, Colo. Three companies were honored with Best Venture and Outstanding Venture Awards at the conclusion of the event.
Builder confidence in the market for newly-built single-family homes remained solid in April, falling three points to a level of 68 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after an unusually high March reading.
Scientists at the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) have developed a proof-of-principle photoelectrochemical cell capable of capturing excess photon energy normally lost to generating heat
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for March 2017 shows mortgage applications for new home purchases increased 6.7 percent compared to March 2016. Compared to February 2017, applications increased by 23 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns
Independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $1,346 on each loan they originated in 2016, up from $1,189 per loan in 2015, the Mortgage Bankers Association (MBA) reported today in its Annual Mortgage Bankers Performance Report