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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) -- 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.

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

WASHINGTON, D.C. - December 21, 2010 - (RealEstateRama) -- Small home builders are the mainstay of the nation’s housing industry, including a sizable number of self-employed mom-and-pop operations, according to a new study by economists at the National Association of Home Builders.“Small businesses have always been the predominant force in housing and they lend this industry its economic vitality,” said Bob Jones, NAHB chairman and a builder from Bloomfield Hills, Mich.

WASHINGTON, DC - December 20, 2010 - (RealEstateRama) -- Improvements in consumer spending and consumer confidence, increased demand for goods and services, and falling unemployment claims are all positive factors for a brighter outlook as we move into 2011, according to the December 2010 Economic Outlook released today by Fannie Mae's (FNMA/OTC) Economics & Mortgage Market Analysis Group. Downside risks still exist, however, including a weaker than expected employment report, the ongoing economic turmoil in Europe, and potential inflation problems in China

WASHINGTON, D.C. - December 20, 2010 - (RealEstateRama) -- Thousands who own homes and businesses in locations recently designated as high-risk flood areas will soon have a new way to save on flood insurance protection. Beginning January 1, 2011, the Federal Emergency Management Agency's (FEMA) National Flood Insurance Program (NFIP) is offering a new insurance rating option that will allow many property owners to take advantage of lower-cost flood insurance for two years before they are required to pay standard rates. The program will make Preferred Risk Policies (PRPs), which start at just $129 a year and are typically only available for properties in moderate-to-low risk areas, available for properties that have been newly mapped into high-risk areas due to a flood map revision on or after October 1, 2008.

Washington, DC - December 20, 2010 - (RealEstateRama) -- Attorney General Peter Nickles issued an enforcement statement* recently to clarify that the Office of the Attorney General (OAG) will not be challenging the validity of completed foreclosure sales based on failures to comply with the recordation obligations imposed by District law.

Washington, D.C. - December 20, 2010 - (RealEstateRama) -- Today NeighborWorks America, the Congressionally appointed administrator of the National Foreclosure Mitigation Counseling (NFMC) Program, announced that, based on a new report that analyzed the NFMC program through December 2009, the odds of curing a foreclosure, and potentially avoiding losing a home, is 1.7 times larger for a homeowner who works with an NFMC counselor than for a homeowner who doesn’t receive such counseling

JACKSONVILLE, FL—U.S. Attorney Robert E. O'Neill announces that a federal jury today found David Wesley Vickers (age 48, of Jacksonville) guilty of nineteen counts arising out of a mortgage fraud scheme, including conspiracy to commit mail, wire, and bank fraud. Vickers faces a maximum penalty of 30 years in federal prison for the conspiracy count and 20 years for each of the other counts. A sentencing date has not yet been set.

Pittsburgh, PA - December 17, 2010 - (RealEstateRama) -- The Board of Directors of the Federal Home Loan Bank of Pittsburgh (FHLBank) has approved $2.69 million in grants under its Affordable Housing Program (AHP). The grants will help finance 15 housing projects – one in Delaware, eight in Pennsylvania and six in West Virginia – creating 395 units of housing for very-low, low- and moderate-income individuals and families as well as those with special needs

Washington, D.C. - December 17, 2010 - (RealEstateRama) -- The American Institute of Architects (AIA) Board of Directors (BOD) voted today for Berkebile Nelson Immenschuh McDowell Architects (BNIM) to receive the 2011 AIA Architecture Firm Award. The Kansas City, Mo.-based firm celebrated for advancing the design of sustainable architecture from nearly its inception to today when it has become a preeminent force fundamentally re-shaping the built environment.

Washington, D.C. - December 17, 2010 - (RealEstateRama) -- In the midst of a struggling national economy, The U.S. Conference of Mayors (USCM) will release results of its 2010 Hunger and Homelessness Report on Tuesday, December 21 at 11:00 a.m. during a CONFERENCE CALL featuring several mayors from around the country. In light of cash strapped local budgets and travel bans, the USCM is hosting a conference call instead of having mayors travel to Washington, D.C

Washington, D.C. - December 17, 2010 - (RealEstateRama) -- The AIA Board of Directors elected Chester (Chet) A. Widom, FAIA, as the 2011 recipient of the Edward C. Kemper Award. Named in honor of the AIA’s first executive director, the award recognizes individuals who contribute significantly to the profession of architecture through service to the Institute. Widom will be honored at the 2011 AIA National Convention in New Orleans