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Monthly Archives: January 2014

Million-Dollar Home Sales Jump in the Golden State

La Jolla, CA. - January 31, 2014 - (RealEstateRama) -- The number of California homes that sold for a million dollars or more rose last year to the highest level in six years, the result of rising home prices and an improving economy, among other factors. The strongest sales gains were at the luxury market's high end, with record sales above the $2 million mark, a real estate information service reported

Realtors® Praise Senate Passage of Bill to Delay Flood Insurance Rate Increases

WASHINGTON, D.C. - January 31, 2014 - (RealEstateRama) -- The following is a statement by National Association of Realtors® President Steve Brown:

The State of the Union is Getting Better for Homeownership

WASHINGTON, D.C. - January 31, 2014 - (RealEstateRama) -- The following is a statement by National Association of Realtors® President Steve Brown: “NAR commends President Obama for highlighting two key policy reforms during his State of the Union address tonight that support the future of homeownership and the business of real estate

HAMMOND, INDIANA AND HAMMOND HOUSING AUTHORITY SETTLE DISCRIMINATION COMPLAINT

WASHINGTON, D.C. - January 31, 2014 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) announced today that the city of Hammond, Indiana, and the Hammond Housing Authority (HHA) agreed to pay Maria Becerra, the former executive director of HHA $200,000 to settle allegations the city and HHA terminated her employment because she administered a HUD-funded rental assistance program that helped minority familiesmove into predominantly white neighborhoods In addition, HHA agreed to reopen its Housing Choice Voucher (HCV) program waiting list and inform the public about the reopening of the list

FHA TO ACCEPT MORE DOCUMENTS WITH ELECTRONIC SIGNATURES

WASHINGTON, D.C. - January 31, 2014 - (RealEstateRama) -- The Federal Housing Administration (FHA) today announced that it is granting expanded authority to lenders to accept electronic signatures (e-Signatures) on documents associated with mortgage loans. The new policy allows e-Signatures on origination, servicing, and loss mitigation documents, as well as FHA insurance claims, REO sales contracts and related addenda. Current FHA policy allows for electronic signatures only on third party documents such as sales contracts and other documents not controlled by the lender.

Federal Properties Available for Homeless Services

WASHINGTON, D.C. - January 31, 2014 - (RealEstateRama) -- In accordance with the Stewart B. McKinney Homeless Assistance Act, HUD published a Notice in the Jan. 31, 2014, Federal Register identifying Federal buildings and other real property HUD has reviewed for suitability for use to assist the homeless. The properties were reviewed using information provided to HUD by Federal landholding agencies or by GSA regarding their inventories of excess or surplus property. The list includes buildings and properties in Ohio and Wyoming

HOUSE REPUBLICAN PLAN TO PROCEED WITH IMMIGRATION REFORM SHOULD PROVIDE NEEDED REFORMS TO BROKEN...

WASHINGTON, D.C. - January 31, 2014 - (RealEstateRama) -- The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement in response to House Republicans' announcement today that they will pursue immigration reform legislation this year:

CFPB Supervision Report Highlights Mortgage Servicing Problems In 2013

WASHINGTON, D.C. - January 30, 2014 - (RealEstateRama) -- The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting problems like unfair and deceptive practices in the mortgage servicing market uncovered through the Bureau’s supervision program in 2013. The report also notes that, between July and October 2013, consumers received $2.6 million as result of overall non-public supervisory activities at the banks and nonbanks the CFPB oversees

Bank of America Merrill Lynch Provided More Than $3.3 Billion in Community Development Banking...

WASHINGTON, D.C. - January 30, 2014 - (RealEstateRama) -- Through its Community Development Banking business, Bank of America Merrill Lynch provided more than $3.3 billion in loans, tax credit equity investments and other real estate development solutions in 2013. Those commitments were up more than 25 percent from 2012 lending and investing and will help create more than 13,600 affordable housing units.

Nonresidential Building Activity Projected to Accelerate in 2014

WASHINGTON, D.C. - January 30, 2014 - (RealEstateRama) -- Healthy fundamentals in the commercial property market combined with the international economy returning to more traditional growth levels are factoring into a projected increase in growth for the design and construction industry. Led by the hotel and retail project categories, the commercial sector looks to see the biggest gains in construction spending, with demand for institutional projects increasing at a more moderate level.

December Pending Home Sales Fall

WASHINGTON, D.C. - January 30, 2014 - (RealEstateRama) -- Pending home sales measurably dropped in December, with abnormal weather partly inhibiting home shopping in much of the U.S., according to the

Martin Edwards, Jr., CCIM Joins St. Louis Fed’s Real Estate Industry Council

MEMPHIS, Tenn. - January 30, 2014 - (RealEstateRama) -- Martin Edwards, Jr., CCIM, president of Edwards Management, Inc., Realtors, Memphis, Tenn., has been named to the Real Estate Industry Council of the Federal Reserve Bank of St. Louis.

Keep the American Dream Alive

WASHINGTON, D.C. - January 30, 2014 - (RealEstateRama) -- During the annual State of the Union address, the President rightly called for housing finance reform that keeps the American Dream of homeownership alive for this and future generations. This Dream accounts for $10 trillion of our nation’s economy and is a proven path towards upward mobility for millions of Americans. It is also why it is important to preserve the 30-year, fixed rate mortgage loan.

BPC to Host Forum on 2014 Economic Outlook for Housing Market

WASHINGTON, D.C. - January 30, 2014 - (RealEstateRama) -- The Bipartisan Policy Center (BPC) will host a forum on the 2014 outlook for the U.S. economy and housing market on Thursday, January 30, at 10:00AM.

National Housing Conference Statement on State of the Union Address

WASHINGTON, D.C. - January 30, 2014 - (RealEstateRama) -- In the State of the Union address, President Obama offered a domestic agenda focused on expanding opportunity for all. The National Housing Conference (NHC) believes that safe, decent and affordable housing for all in America is an essential part of expanding opportunity.

WARBURG REALTY® ACQUIRES RUBICON PROPERTY

New York - January 29, 2014 - (RealEstateRama) -- Warburg Realty®, one of Manhattan’s leading residential real estate companies, today announced the acquisition of Rubicon Property including its storefront at 451 Columbus Avenue. This is Warburg’s first acquisition of another real estate firm

CFPB Takes Action Against PHH Corporation for Mortgage Insurance Kickbacks

WASHINGTON, D.C. - January 29, 2014 - (RealEstateRama) -- Today, the Consumer Financial Protection Bureau (CFPB) initiated an administrative proceeding against PHH Corporation and its affiliates (PHH), alleging PHH harmed consumers through a mortgage insurance kickback scheme that started as early as 1995. The CFPB is seeking a civil fine, a permanent injunction to prevent future violations, and victim restitution.

CONSTRUCTION EMPLOYMENT INCREASES IN 34 STATES FROM A YEAR AGO BUT DECLINED IN 32...

WASHINGTON, D.C. - January 29, 2014 - (RealEstateRama) -- Construction firms added jobs in 34 states over the past 12 months, but construction employment declined in 32 states and the District of Columbia between November and December as many parts of the country coped with weather, according to an analysis released today by the Associated General Contractors of America of Labor Department data. Association officials noted that while weather in parts of the country likely contributed to many of the declines, they urged Washington officials to take steps to ensure continued growth for the industry and the economy.

Apartment Industry Response to the State of the Union

WASHINGTON, D.C. - January 29, 2014 - (RealEstateRama) -- Statement from the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA) by Cindy Chetti, NMHC Senior Vice President of Government Affairs

NCRC to Host GSE and Housing Finance Reform Forum

Washington, DC - January 29, 2014 - (RealEstateRama) -- As the fate of Fannie Mae and Freddie Mac continues to sit in limbo, it remains unclear what the future holds for our system of housing finance. Despite the fact that Fannie Mae and Freddie Mac have played a valuable role in helping to grow the middle class in America, the reform debate has largely centered around their elimination, without fully considering the consequences for working Americans and the housing market. And troublingly, none of the current reform legislation makes any tangible commitment to ensuring access to conventional lending for the full range of creditworthy borrowers, including millennials, working-class people, rural residents and minorities.

Business Real Estate Press Releases

Support Ukrainian Refugees

GFP Real Estate and Its Tenants Raise More Than $200,000 to...

GFP Real Estate is pleased to announce that its "Support Ukraine in Crisis" campaign raised more than $200,000 to support humanitarian relief efforts on the ground in Ukraine.

Recent Gov & Nonprofit Real Estate Press Releases

U.S. Senator Roger Marshall

Senator Marshalls Slams United Nations Climate Change Goals That Will Harm...

U.S. Senator Roger Marshall, M.D. released the following statement on the United Nations Net-Zero Banking Alliance’s (NZBA) decision to dramatically expand their Green New Deal