In a letter today to Sen. Elizabeth Warren (D-MA), Ginnie Mae outlines its actions to curb VA refinance speeds and aggressive marketing by some VA approved lenders. As Ginnie Mae notes in its letter, rapid refinance and loan churning was recognized as a problem in its VA portfolio last year. This led to Ginnie Mae’s initial measures to change its program rules to address the issue. These initial measures were successful in stopping these practices with many lenders.
Although the fiscal year 2018 D.C. Appropriations bill passed by the House today contains five anti-home-rule riders, Congresswoman Eleanor Holmes Norton (D-DC) said she believes she will be able to keep most of them out of the final spending bill, which must be passed by December 8. The Senate version of the fiscal year 2018 D.C. Appropriations bill has not been introduced, but even under Republican control the last two fiscal years, the bill has contained zero anti-home-rule riders
The Department of the Interior announced today that the Bureau of Reclamation is awarding a construction contract of almost $62 million for part of the Navajo-Gallup Water Supply Project in New Mexico to increase the supply of clean drinking water to surrounding communities.
Following work to identify and mark all underground utilities, WSSC will begin to mobilize heavy equipment along US 29 (Colesville Road) in Silver Spring on Monday, September 18, weather permitting. Crews will begin excavating near the intersection of MD 97 (Georgia Avenue) and Colesville Road, moving north towards I-495 (Capital Beltway).
Statement from the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA) following Pam Patenaude’s confirmation as Deputy Secretary of the Department of Housing and Urban Development (HUD)
The U.S. Senate today approved the nomination of Pam Patenaude as deputy secretary at the Department of Housing and Urban Development. Following is a statement from NAR President William E. Brown on the vote
State governments, in partnership with cities and other local jurisdictions, can and should do more to promote housing development and choice through smarter local land use policies and incentives, according to a new Urban Land Institute (ULI) report, Yes in My Backyard.
U.S. Secretary of Veterans Affairs Dr. David J. Shulkin announced that VA is making beds available where possible to non-Veteran nursing home residents affected by Hurricane Irma
Tax reform done right could yield savings and simplification that benefits average Americans, but history shows that misguided reforms can pose significant threats to the economy. That’s the message the National Association of REALTORS® brought to Congress today as Iona Harrison, chair of NAR’s Federal Taxation Committee
KTGY Architecture + Planning Receives Two AIA Orange County Design Awards for Residential Planned...
International award-winning firm KTGY Architecture + Planning is pleased to announce that KTGY’s design and planning were honored at the American Institute of Architects Orange County Chapter (AIAOC) 2017 Design Awards last night. The AIAOC Design Awards program recognizes innovative solutions to the complex problems of today’s architectural environment in Orange County or by Orange County architects.
The U.S. Department of Housing and Urban Development (HUD) awarded $55.2 million to 77 Native American tribes throughout the country to improve housing conditions and to stimulate economic development in their communities. HUD's Indian Community Development Block Grant (ICDBG) Program is a competitive program that supports a wide range of community development and affordable housing activities, from new housing for individual families to community amenities like rec centers or water lines.
David H. Stevens, CMB, President & CEO of the Mortgage Bankers Association (MBA), released a statement following the Senate confirmation of Pam Patenaude to be the Deputy Secretary of Housing and Urban Development (HUD).
Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas, issued the following statement on the Senate confirmation of Pamela Patenaude as deputy secretary of the Department of Housing and Urban Development
The Mortgage Bankers Association's Research Institute for Housing America (RIHA) today released a new special report, Managing Mortgage Product Development Risk." The report "recommends a more formalized approach to assessing mortgage product risk that takes into account both product and process risk." It was authored by Clifford V. Rossi, Executive in Resident and Professor at the Robert H. Smith School of Business, University of Maryland.
The Department of Veterans Affairs (VA) announced it has awarded $343 million in grants to 288 nonprofit organizations to help low-income Veterans and their families. The grants were awarded under VA’s Supportive Services for Veteran Families (SSVF) program.
Mercy Housing, the largest affordable housing nonprofit in the country, announced today that it has upgraded six of its California properties with efficiency measures that will reduce the amount of energy and water consumed in the buildings. The upgrades were supported by Mercy Housing’s Green Hope sustainability program, designed to reduce consumption of natural resources, reduce waste, and create healthier living environments with no reduction in quality of service to the resi
U.S. Housing and Urban Development today announced HUD will speed federal disaster assistance to the State of Florida and provide support to homeowners and low-income renters forced from their homes due to Hurricane Irma.
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 28895 West Highway 120 in Lakemoor, Illinois for $7,250,000.
The Real Estate Standards Organization, or RESO, has revealed the 2017 RESO DataComp its first-ever data competition sponsored by Realtors Property Resource®, will begin on September 17, at 12:00 a.m. Pacific Time, culminating in live demonstration before a distinguished panel of industry judges from 1:00 p.m. to 4:30 p.m. Pacific Time on October 17 at the Pendry Hotel in San Diego, during the RESO fall conference.
The National Association of Home Builders (NAHB) today urged Congress to pass the bipartisan Save Local Business Act, legislation that would boost housing affordability and provide small businesses certainty and predictability by clarifying under law what constitutes a joint employer
The Mortgage Bankers Association (MBA) today released a new white paper, prepared for MBA by the law firm of Covington and Burling, entitled CFPB 2.0: Advancing Consumer Protection. The paper examines the approach of the Consumer Financial Protection Bureau (CFPB) during its first five years of undertaking enforcement actions in key areas--including actions that clearly departed from prior published interpretations-without providing sufficient supervisory guidance to the industry in advance.
Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas, issued the following statement regarding President Trump’s nomination of Brian Montgomery to run the Federal Housing Administration (FHA)
David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), made the following statement about President Trump nominating Brian Montgomery to be the next Federal Housing Commissioner at the U.S. Department of Housing and Urban Development (HUD)
Congresswoman Eleanor Holmes Norton’s (D-DC) home-rule provision to change a 1958 law that treated the District of Columbia government as a part of the federal government, as it was then, was included in a bill passed today by the House Oversight and Government Reform Committee (OGR).
Mortgage applications increased 9.9 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 8, 2017. This week's results included an adjustment for the Labor Day holiday.
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2017 shows mortgage applications for new home purchases increased 6.8 percent compared to August 2016. Compared to July 2017, applications increased by 7 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns.
Ranking Member of the Senate Energy and Natural Resources Committee Maria Cantwell (D-Wash.) applauded the Department of Energy’s (DOE) announcement that the Pacific Northwest National Laboratory will receive grants to develop new cybersecurity technologies and tools and strengthen grid resilience.
The installed cost of solar power fell to record lows in the first quarter of 2017 because of the continuing decline in photovoltaic (PV) module and inverter prices, higher module efficiency, and lower labor costs, according to an analysis by the U.S. Department of Energy’s (DOE) National Renewable Energy Laboratory (NREL).
Commercial real estate price growth in large markets is expected to flatten over the next year, but strong leasing demand and investor appetite in smaller markets should keep the sector on solid ground, according to the latest National Association of Realtors® quarterly commercial real estate forecast
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Advance Auto Parts located at 1386 Butterfield Road in Aurora, Illinois for $2,150,000. The Advance Auto Parts property is located just off of the heavily trafficked signalized intersection of Kirk Road and Butterfield Road.