WASHINGTON, D.C. - December 29, 2010 - (RealEstateRama) -- A fanciful castle, two major hotel renovations and a medical office that features a nod to local historic architectural styles are among the winners in this year’s National Association of Home Builders (NAHB) Awards of Excellence.“Even as we recover from the economic slump in the commercial building sector, the best projects in the industry continue to impress the judges for their innovation, efficient use of materials and overall construction excellence,” said Carl Harris, chair of the NAHB’s National Commercial Builder Council, which sponsors the awards each year
POINT PLEASANT BEACH, NJ - December 29, 2010 - (RealEstateRama) -- During Diane Turton, Realtors’ sixth annual Turton Giving Tree project, the company collected unwrapped toys and gifts for local children who are in need as well as monetary donations that will go towards feeding needy families in the area.
Justice Department Settles Disability Discrimination Case Against Property Management Company for $1.25 Million
WASHINGTON, DC - December 28, 2010 - (RealEstateRama) -- The Justice Department today announced a $1.25 million agreement with Warren Properties Inc., Warren Village (Mobile) Limited Partnership and Frank R. Warren to settle allegations that the defendants violated the Fair Housing Act by refusing to grant a tenant’s requests for a reasonable accommodation. This settlement is the largest ever obtained by the department in an individual housing discrimination case.
Des Moines, IA - December 28, 2010 - (RealEstateRama) -- Communities throughout the state of South Dakota were recently awarded $2.6 million in affordable housing grants through the Federal Home Loan Bank of Des Moines Affordable Housing Program (AHP)....
Washington, D.C. - December 28, 2010 - (RealEstateRama) -- Proposed changes to home lending rules from the Federal Reserve Board not only exceed its authority, but could actually encourage predatory lending targeted at the elderly.
Innovative IDX Broker software syncs thousands of property listings instantly on Gulf Coast realty...
EUGENE, OR - December 28, 2010 - (RealEstateRama) -- Mobile, Alabama real estate Alexa Kennedy has chosen to upgrade her professional website by adding a custom IDX solution to her search page, thanks to IDX, Inc. and the IDX Broker software they supply to her. Gulf Coast Alabama MLS (GCAMLS) listings are automatically synced to her search capabilities, with the dynamic IDX solution Kennedy now employs. Finding homes online was once a daunting and incomplete task. But now, with IDX Broker, home seekers can experience the most thorough and efficient online search from the convenience of the website of Kennedy.
Washington, DC - December 28, 2010 - (RealEstateRama) -- The Federal Housing Finance Agency 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 4.42 percent based on loans closed in November. This is a decrease of 0.07 percent from the previous month.
Chicago, IL - December 28, 2010 - (RealEstateRama) -- The National Association of REALTORS® has invested in Ifbyphone through its strategic investment fund, Second Century Ventures. As part of the arrangement, NAR is also collaborating with Ifbyphone to develop solutions that enhance voice interactions for its more than 1.1 million REALTOR® members.
Washington, DC - December 27, 2010 - (RealEstateRama) -- 2010 has been a year of real estate contrasts. While many consumers have taken advantage of historic buying opportunities and the market has seen a gradual stabilization of sales and prices, other challenges facing the nation have led some to question the value of home ownership for families, communities, and the country.
BOSTON, MA - December 24, 2010 - (RealEstateRama) -- The Federal Home Loan Bank of Boston announced that a Manchester initiative will receive more than $2.1 million through its Affordable Housing Program. These funds, awarded in the form of a grant, loan, and interest-rate subsidy, will be used to finance 26 units of affordable rental housing for formerly homeless veterans earning at or below 50 percent of area median income.
BEDFORD, N.H. - December 23, 2010 - (RealEstateRama) -- New Hampshire Housing’s Single Family Mortgage Program will soon be celebrating 35 years of service! To help mark this milestone, the agency is seeking success stories from its current and past clients to show the world how this program has allowed real people to achieve their dreams.
NEW YORK, N.Y. - December 23, 2010 - (RealEstateRama) -- Mortgage rates pulled back slightly this week, with the average rate on the benchmark conforming 30-year fixed mortgage rate receding to 4.96 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.46 discount and origination points.
McLean, VA - December 23, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its (PMMS®), which found that both fixed-rate mortgage rates eased slightly this week. The 5-year hybrid ARM dropped back slightly, but the 1-year ARM rates were up
McLean, VA - December 23, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today issued the company's Monthly Volume Summary for November 2010. The summary, available on the company's Web site at, provides information on Freddie Mac's mortgage-related portfolios, securities issuance, risk management and delinquencies, including data on seriously delinquent mortgage loans in related mortgage Participation Certificate (PC) pools.
WASHINGTON, D.C. - December 23, 2010 - (RealEstateRama) -- Sales of newly built, single-family homes increased 5.5 percent to a seasonally adjusted annual rate of 290,000 units in November, according to newly released figures from the U.S. Commerce Department. The gain represents a partial bounce-back from a near-record low, downwardly revised number of new-home sales in October.
MONROE, LA - December 23, 2010 - (RealEstateRama) -- Today, Governor Bobby Jindal joined Benchmark Bank Chairman and CEO Mike Barnett, Affiliated Mortgage Co. President Dan Hastings and Monroe Mayor Jamie Mayo to announce that Benchmark Bank’s subsidiary, Affiliated Mortgage Company (AMC) of West Monroe, has committed to retain and expand its operations in Northeast Louisiana.
Alexandria, VA - December 23, 2010 - (RealEstateRama) -- The initial period for federal registration of residential mortgage loan originators under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“SAFE Act”), 12 U.S.C. 5101–5116, is expected to begin on or around January 31, 2011, and end on or around July 29, 2011. The National Credit Union Administration, along with the Federal Deposit Insurance Corporation, Federal Reserve Board, Office of the Comptroller of the Currency, Office of Thrift Supervision, and Farm Credit Administration will publish an announcement on our respective Web sites confirming the start date of this registration period shortly before the period begins, followed by a notice published in the Federal Register
WASHINGTON, DC - December 23, 2010 - (RealEstateRama) -- Today, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced that more than 3,800 children are safe from dangerous lead-based paint hazards and other health and safety risks due to grants from the American Recovery and Reinvestment Act of 2009 and HUD’s Office of Healthy Homes and Lead Hazard Control.
WASHINGTON, DC - December 23, 2010 - (RealEstateRama) -- In an effort to help families find decent housing and to prevent future foreclosures, the Obama Administration today announced nearly $73 million in housing counseling grants to more than 500 national, regional and local organizations. As a result of the funding announced today, hundreds of thousands of households will have a greater opportunity to find housing or keep the homes they have because of the housing counseling and counseling training grants awarded today by U.S. Housing and Urban Development Secretary Shaun Donovan.
WASHINGTON, D.C. - December 23, 2010 - (RealEstateRama) -- The National Association of Home Builders (NAHB) applauds the Occupational Safety and Health Administration’s (OSHA) decision to withdraw the interim fall protection guidelines for residential construction that were issued in 1995 and revert to the previous guidelines.“Job site safety is the number one priority for builders,” said NAHB Chairman Bob Jones, a home builder from Bloomfield Hills, Mich. “This action will clarify what actions builders need to take to comply with OSHA regulations while helping to ensure safer work sites.”
WASHINGTON, DC - December 22, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the December edition of the Obama Administration’s Housing Scorecard. The latest housing figures show continued home affordability in the housing market, with interest rates near record lows, but the market remains fragile, as prices are unsettled. Foreclosure starts and completions dropped significantly in November, as lenders review internal servicing procedures. The housing scorecard is a comprehensive report on the nation’s housing market.
Bipartisan Affordable Housing Bill for Individuals with Disabilities Sent to President Obama to be...
WASHINGTON, D.C. - December 22, 2010 - (RealEstateRama) -- After quick approval in the U.S. Senate on Friday, ushered through by Connecticut Senator Chris Dodd (D-CT), today the U.S. House of Representatives passed and sent to President Obama to sign Congressman Chris Murphy’s (CT-5) legislation to provide thousands of new affordable housing units for low income, disabled individuals across the country.
Federal Reserve issues interim rule amending Regulation Z to clarify certain disclosure requirements of...
December 22, 2010 - (RealEstateRama) -- The Federal Reserve Board on Wednesday approved an interim rule amending Regulation Z, which implements the Truth in Lending Act (TILA). The Board is issuing this interim rule to clarify certain aspects of a September 24, 2010 interim rule, in response to public comments. The September interim rule implements provisions of the Mortgage Disclosure Improvement Act (MDIA) which amended TILA to require mortgage lenders to disclose examples of how a loan's interest rate or monthly payments can change. Those statutory amendments will become effective on January 30, 2011.
WASHINGTON, DC - December 22, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the December edition of the Obama Administration's Housing Scorecard. The latest housing figures show continued home affordability in the housing market, with interest rates near record lows, but the market remains fragile, as prices are unsettled. Foreclosure starts and completions dropped significantly in November, as lenders review internal servicing procedures. The housing scorecard is a comprehensive report on the nation's housing market.
WASHINGTON, D.C. - December 22, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending December 17, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 18.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 20.0 percent compared with the previous week.
WASHINGTON, DC - December 22, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD), the Metropolitan St. Louis Equal Housing Opportunity Council (EHOC), and First National Bank of St. Louis today announced an agreement that will increase the bank's commitment to minority and low-income communities.? As part of the agreement, the bank will invest more than $2.5 million over four years in St. Louis City, North St. Louis County, and St. Clair County, Illinois.
WASHINGTON, DC - December 22, 2010 - (RealEstateRama) -- Existing-home sales got back on an upward path in November, resuming a growth trend since bottoming in July, according to the National Association of Realtors®
WASHINGTON, DC - December 21, 2010 - (RealEstateRama) -- U.S. Senator Herb Kohl (D-WI), chairman of the Special Committee on Aging, announced the passage of S.118 by the U.S. House of Representatives. S.118, passed under unanimous consent by the U.S. Senate this past weekend, will improve the Department of Housing and Urban Development’s (HUD) Section 202 Supportive Housing for the Elderly Program. The Section 202 program provides capital grants to non-profit community organizations for the development of supportive housing and provision of rental assistance exclusively for low-income seniors. Through such housing and supportive services, the program allows low-income seniors to remain safely in their homes.
WASHINGTON, D.C. - December 21, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Commercial Real Estate/Multifamily Finance Quarterly Data Book for the third quarter of 2010. The analysis shows that the real estate cycle is beginning to once again exert itself in commercial and multifamily property markets. During the third quarter, the economy began to show (modest) growth and absorption picked up in the face of little new space coming on line. The result has been marginal declines in vacancy rates and a firming of asking rents. Property sales and originations volumes picked up, but volumes were not high enough to keep up with the mortgage debt that investors saw paying off and paying down. The weak economy continued to exert pressure on the performance of properties and the mortgages they back. Mortgage delinquencies were mixed in the quarter, with CMBS and banks/thrifts experiencing continued growth in delinquency rates (albeit at slower rates of growth) and delinquencies at life companies, Fannie Mae and Freddie Mac remaining at low levels
Washington, DC - December 21, 2010 - (RealEstateRama) -- Refinancings through the Home Affordable Refinance Program (HARP) increased 26 percent in the third quarter of 2010. Fannie Mae and Freddie Mac loan modifications through the Home Affordable Modification Program (HAMP) increased 16 percent in the quarter, although the overall volume of loan modifications and the pace of HAMP modifications declined from previous periods. The data were released in FHFA’s Third Quarter 2010 Foreclosure Prevention & Refinance Report, which includes data on all of the Enterprises’ foreclosure prevention efforts