Finance

WASHINGTON, D.C. - September 12, 2012 - (RealEstateRama) -- David H. Stevens, president and CEO of the Mortgage Bankers Association (MBA), issued the following statement reacting to the new representation and warranty framework announced by the Federal Housing Finance Agency (FHFA) today.

Washington, D.C. - September 10, 2012 - (RealEstateRama) -- The Securities and Exchange Commission today announced an asset freeze against a San Diego-based firm and its owner accused of running a real estate investment fraud that raised approximately $50 million from hundreds of investors nationwide

Washington, DC - August 31, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today announced that it has directed Fannie Mae and Freddie Mac to raise guarantee fees (g-fees) on singlefamily mortgages by an average of 10 basis points. The changes to g-fee pricing represent a step toward encouraging greater participation in the mortgage market by private firms, a goal set forth in FHFA’s Strategic Plan for Enterprise Conservatorships.

Washington, DC - August 28, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some adjustable-rate mortgage (ARM) contracts, was 3.66 percent based on loans closed in July. Beginning in March, FHFA is calculating interest rates using un-weighted survey data.

WASHINGTON, D.C. - August 22, 2012 - (RealEstateRama) -- The Community Development Financial Institutions Fund (CDFI Fund) is committed to making its Capacity Building Initiative a comprehensive source of trainings and reference materials for Community Development Financial Institutions (CDFIs). Building upon that commitment, the CDFI Fund has added a new Capacity Building Initiative Resource Bank to its website. The Foreclosure Solutions Resource Bank will be an essential tool for CDFIs navigating the intricacies of foreclosure intervention

WASHINGTON, D.C. - August 20, 2012 - (RealEstateRama) -- David H. Stevens, president and CEO of the Mortgage Bankers Association (MBA), issued the following statement reacting to the U.S. Treasury Department’s announcement of modifications to the Preferred Stock Purchase Agreements (PSPAs) between the Treasury Department and the Federal Housing Finance Agency (FHFA).

VIENNA, VA - August 17, 2012 - (RealEstateRama) -- Financial Crimes Enforcement Network (FinCEN) Director James H. Freis, Jr. today announced the issuance of an advisory for non-bank residential mortgage lenders and originators (RMLOs) to help them identify and report suspicious activity related to potential mortgage fraud. In his remarks before the American Association of Residential Mortgage Regulators' (AARMR's) 23rd Annual Regulatory Conference, he also discussed FinCEN's new anti-money laundering (AML) requirements for RMLOs. As of Monday, Aug. 13, RMLOs must comply with FinCEN's final rule requiring the establishment of AML programs and the filing of suspicious activity reports (SARs).

Washington, DC - August 8, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) has sent to the Federal Register a Notice indicating its concern with the proposed use of eminent domain to restructure performing home loans and inviting public input.

WASHINGTON, DC - August 7, 2012 - (RealEstateRama) -- On August 1, Realtors® Federal Credit Union merged with Northwest Federal Credit Union to better serve its members. Members of the Realtors® Federal Credit Union, now a division of Northwest Federal Credit Union, have greater access to service centers, financial loans, banking services and much more.

WASHINGTON, D.C. - July 11, 2012 - (RealEstateRama) -- The National Association of Home Builders (NAHB) told Congress today that proposed mortgage lending reforms under the Dodd-Frank Act must be imposed in a manner that causes minimum disruption to the mortgage markets while ensuring consumer protections.

Washington, DC - July 3, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today announced that the winning bidders in a real estate owned (REO) pilot initiative have been chosen and transactions are expected to close early in the third quarter. Market response has been robust with strong qualified bidder interest

Washington, D.C. - June 13, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today released its fourth annual Report to Congress, detailing the agency’s examinations of Fannie Mae and Freddie Mac, the 12 Federal Home Loan Banks (FHLBanks), and the FHLBanks’ joint Office of Finance.

Washington, D.C. - June 12, 2012 - (RealEstateRama) -- More than 1.3 million homeowners have received foreclosure prevention counseling by local nonprofits and state housing finance agencies participating in the National Foreclosure Mitigation Counseling (NFMC) program administered by NeighborWorks America, one of the nation’s largest community development corporations. The latest report on the NFMC program also found that 51% percent of homeowners seeking help are women, and overall that 20% of the people being served by NFMC counselors have mortgage rates that exceed 8%. The national level for the 30-year mortgage has averaged less than 5% since April 2010.

Washington, DC - May 29, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 3.93 percent based on loans closed in April. Beginning in March, FHFA is calculating interest rates using un-weighted survey data. There was an increase of 0.03 percent from the previous month.

OXNARD, CA - May 18, 2012 - (RealEstateRama) -- Bill Kiefer and Steve Doll from NAI Capital’s Ventura County office represented the Landlord, Topa Financial Plaza, in two separate lease transactions consisting of a 4,868 SF and 5,984 SF office suites located at the Topa Financial Plaza at 300 Esplanade Drive to the Tenant, Rabobank. The combined value of the lease transactions was over $2.3 million.

Washington, DC - March 27, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.08 percent based on loans closed in February. Beginning this month, FHFA is calculating interest rates using un-weighted survey data. For January, a comparable rate based on unweighted data would have been 4.18 percent.

WASHINGTON, DC - March 27, 2012 - (RealEstateRama) -- Raj Date, deputy director of the Consumer Financial Protection Bureau, will deliver a keynote address as part of the American Bankers Association’s annual Regulatory Compliance Conference on June 10-13 at the Walt Disney World Dolphin Hotel in Orlando, Fla

Washington, DC - March 19, 2012 - (RealEstateRama) -- Fannie Mae and Freddie Mac completed more than 2.1 million foreclosure prevention actions since the start of conservatorship including 1.1 million permanent loan modifications. These actions, designed to help borrowers stay in their homes, are detailed in the Federal Housing Finance Agency’s fourth quarter 2011 Foreclosure Prevention and Refinance Report. The report also shows that after nine months, fewer than 20 percent of Enterprise loans modified in the four quarters ended March 31, 2011, had missed two or more payments, an improvement over prior years.

WASHINGTON, D.C. - March 13, 2012 - (RealEstateRama) -- The National Apartment Association (NAA) and National Multi Housing Council (NMHC) announced the apartment industry’s 2012 policy agenda today as part of the NAA Capitol Conference’s lobby day tomorrow. Top priorities for Capitol Hill in the year ahead include housing finance reform, comprehensive tax overhaul and cost-effective regulations.

WASHINGTON, DC - March 9, 2012 - (RealEstateRama) -- All across the country, owners of aging apartment complexes are looking for ways to reduce their energy consumption and save money. In order to test new and innovative ways to cut energy bills and to finance energy efficiency upgrades in existing multi-family residential properties, the U.S. Department of Housing and Urban Development (HUD) today awarded nearly $23 million to a dozen organizations on the cutting edge of bringing energy-saving solutions to the housing market.