RealEstateRama

The Federal Trade Commission today released staff comments to the federal banking agencies – the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration – in response to their request for comments on proposed illustrations of consumer information for subprime mortgage lending. In their comments, FTC staff support the agencies’ efforts to develop mortgage disclosures to help subprime borrowers make better informed decisions.

WASHINGTON, November 6, 2007 – Today, Rep. Bennie G. Thompson (D-MS), Chairman of the Committee on Homeland Security, released the following statement of introduction for H.R. 4079, the “Safe and Healthy Emergency Housing Act of 2007”

Washington, D.C., November 1, 2007 -- The Federal Trade Commission today released staff comments to the federal banking agencies – the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration – in response to their request for comments on proposed illustrations of consumer information for subprime mortgage lending.

WASHINGTON, Nov 2 /PRNewswire-USNewswire/ -- A proposed tax increase on a partnership's long-term investment return that was approved yesterday by the House Ways and Means Committee poses a severe economic threat to economic growth, jobs and the tax base, according to a group of twelve national real estate organizations.

After the Short Sale: Taxing What Isn't There Too often, real estate practitioners are unaware of the tax liabilities arising from the cancellation of debt and fail to advise their clients accordingly.

WASHINGTON, Nov. 1 /PRNewswire/ -- As Congress debates how to solve the mortgage credit crunch, a new survey by Freedom Works indicates a majority of Americans don't want Uncle Sam to foot the bill

WASHINGTON, D.C., October 17, 2007 -- The president of the Financial Planning Association® (FPA®) says homeowners on the cusp of foreclosure due to subprime loans need to evaluate their options now, and not wait for a foreclosure notice before taking action

WASHINGTON, D.C., October 31, 2007 — The Mortgage Bankers Association (MBA) today released its weekly Mortgage Applications Survey for the week ending October 26, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 681.7, an increase of 3.8 percent on a seasonally adjusted basis from 656.5 one week earlier. On an unadjusted basis, the Index increased 3.6 percent compared with the previous week and was up 19.5 percent compared with the same week one year earlier.

Washington, D.C., Oct 31, 2007 -- “The financial tremors caused by the on-going subprime crisis have badly cracked and damaged one of the bedrocks of the American dream – the ability to own a home. When I met with Fed Chairman Bernanke in August, he assured me that the Fed would use all of the tools at its disposal to deal with the current crisis in our housing and financial markets.

The average home buyer will not be put off a potential property if it has a poor energy rating, according to Legal & General. However, they would be likely to act on the energy saving proposals made in an energy performance certificate (EPC). Three months on from the launch of Home Information Packs (HIPS), the Government has said that most homes are receiving an ‘E’ rating on an A-G scale, but this could rise to a ‘C’ relatively easily.

WASHINGTON - Americans in seven states will soon find themselves living in upgraded apartments equipped to meet their physical needs thanks to more than $22.2 million in grants from the U.S. Department of Housing and Urban Development. HUD Deputy Secretary Roy Bernardi today joined Onondaga County Executive Nicholas J. Pirro and representatives from the office of Congressman Jim Walsh to make the announcement at Bernardine Apartments in Syracuse, New York.

WASHINGTON, Oct. 31 /PRNewswire-USNewswire/ -- The Genesis Foundation Inc. (Genesis) and Home Downpayment Gift Foundation, Inc. (HDGF), both 501(c)3 charitable entities dedicated to helping low and moderate income families create and maintain homeownership, announced today that it has prevailed in its temporary injunction in the Unites State District Court.

Washington, D.C., Oct 17, 2007 -- Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today sent a letter to Treasury Secretary Henry Paulson reiterating the need for lenders to modify subprime loans in order to avert massive foreclosures across the country.

WASHINGTON, October 26, 2007 - It will soon be easier for thousands of senior citizens and people with disabilities to find affordable housing, thanks to more than $643 million in housing assistance grants announced today by U.S. Housing and Urban Development Secretary Alphonso Jackson.

"This Administration is committed to making sure our senior citizens and people with disabilities have opportunities to find decent housing that they can afford," said Jackson. "Neither group should ever have to worry about being able to find a safe place to live.

WASHINGTON, Oct. 25 /PRNewswire-USNewswire/ -- As Congress continues to debate the sub-prime mortgage issue, the free-market grassroots group Americans for Prosperity is leading a coalition representing millions of citizens to protect the best interests of taxpayers and homeowners.

Oct. 23, 2007 -- As pressure mounts for Congress and the Bush Administration to restrict mortgage lending abuses that have saddled economically vulnerable families with mortgages they can not afford, the mortgage lending industry continues to funnel millions of dollars in lobbying and campaign donations to Congress, even as some of those mortgage institutions are struggling to stay afloat, a new Common Cause report shows.

WASHINGTON, D.C., October 24, 2007 — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 19, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 656.5, a slight increase on a seasonally adjusted basis from 656.3 one week earlier.

WASHINGTON, October 24, 2007 -- Comptroller of the Currency John C. Dugan today expressed support for provisions in a House bill that would set national standards for subprime mortgages comparable to federal banking agency standards, and provide enhanced regulation for all mortgage brokers, but expressed concern about some parts of the proposed legislation.

With more than 15,000 home plans to choose from, users may find the task of searching for a new home a bit daunting. But with HDA's new search features, finding that special luxury house plan is a breeze. Consumers are able to search by home plan style, size, and by estimated cost-to-build

WASHINGTON, Oct. 25 /PRNewswire-USNewswire/ -- Three-fourths of Americans surveyed believe that either being smarter about development or improving public transportation are both better long-term solutions for reducing traffic congestion than building new roads, according to a survey sponsored by the National Association of Realtors and Smart Growth America.