Yearly Archives: 2017

Responding to escalating public pressure and ongoing labor unrest at America’s largest port complex – home of what Senator Bernie Sanders has called “The American Nightmare” – the Los Angeles City Council has unanimously approved a motion (File No. 17-0725-S1) sponsored by Councilmembers Joe Buscaino

Mortgage applications decreased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending December 8, 2017.

The U.S. Environmental Protection Agency has awarded $1,039,686 to support 32 tribes with their nonpoint source pollution programs, and an additional $975,548 under the competitive grant program to 10 of the tribes for specific restoration and protection projects, boosting tribal water quality programs across three Northwest states to help protect people’s health and the environment.

International award-winning firm KTGY Architecture + Planning is pleased to announce the recent opening of the KTGY-designed residential models at South Cove in Dana Point, California. Built by San Diego-based real estate development company Zephyr, this is Dana Point’s first new for-sale residential development to open in decades. South Cove is a unique, barefoot community that exudes laid-back luxury in a highly-coveted coastal setting at the southern gateway of Dana Point.

U.S. Sen. Lisa Murkowski, R-Alaska, today chaired an oversight hearing to examine the permitting processes for energy and resource infrastructure projects at the Department of the Interior (DOI) and the Federal Energy Regulatory Commission (FERC).

The National Association of Home Builders (NAHB) has announced the finalists for its sixth annual Best of IBS Awards for the 2018 International Builders’ Show (IBS) in Orlando, Fla. Over 300 product entries in nine categories were judged by 27 industry and media representatives. Finalists were evaluated on criteria such as innovation, functionality and design. Winners in each category, as well as a Best Overall winner, will be named at the conclusion of the show on Thursday, Jan. 11, 2018.

The level of commercial/multifamily mortgage debt outstanding increased by $45.4 billion, or 1.5%, to $3.11 trillion in the third quarter of 2017 as all four major investor groups, including Commercial Mortgage Backed Securities (CMBS), increased their holdings over the second quarter.

Ginnie Mae today announced that issuance of its mortgage back securities (MBS) totaled $39.13 billion in November. A breakdown of November’s issuance includes $37.215 billion of Ginnie Mae II MBS and $1.986 billion of Ginnie Mae I MBS, which provided access to $37.734 billion in capital for single family home loans and $1.467 billion for multifamily home loans

The Mortgage Bankers Association (MBA) Builder Applications Survey (BAS) data for November 2017 shows mortgage applications for new home purchases increased 12.2 percent compared to November 2016. Compared to October 2017, applications decreased by 6 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns

Maybe you have plans to get married and need to secure your first home so you have a place to move into after your honeymoon. Other first time homebuyers have rental leases that are soon to expire. While finding the first piece of residential property that you are to own and live in

Industry Employment Reaches 10-Year High and Unemployment Rate Falls to 5.0 Percent; Association Officials Say Tax Rate Cuts Will Enable Firms to Increase Pay and Attract More Workers to Construction. Construction employment increased by 24,000 jobs in November to the highest level since November 2008

As leaders of four of the nation’s largest nonprofit financial institutions dedicated to improving economic opportunity in local communities, we write to urge your support for the preservation of the New Markets Tax Credit (NMTC) during upcoming negotiations on tax reform legislation

Construction input prices expanded 0.7 percent in November and rose 5.6 percent on a yearly basis, the largest increase since November 2011, according to an Associated Builders and Contractors (ABC) analysis of Bureau of Labor Statistics data released today. Nonresidential construction materials prices also expanded 0.7 percent for the month and 5.4 percent for the year. Crude petroleum prices rose 11 percent in November and are 31 percent higher than this time last year.

Underscoring a key milestone in VA’s efforts to modernize its infrastructure, the U.S. Department of Veterans Affairs (VA) marked the reopening of its newly renovated Lafayette Building at 811 Vermont Ave., in Washington, D.C., with a ribbon-cutting ceremony at the facility Dec. 11.

The Mortgage Bankers Association (MBA) today announced that it has retained Spencer Stuart, a leading global executive search and leadership advisory firm, to assist with the search for the Association's next President and CEO. Current President and CEO, David H. Stevens, announced his plans to retire this past October. Mr. Stevens will remain in his position until September 30, 2018 to ensure a smooth and successful transition.

Congresswoman Eleanor Holmes Norton (D-DC) will commemorate the 44th anniversary of the enactment of the District of Columbia Home Rule Act this month, beginning with a floor speech tomorrow, Tuesday, December 11, 2017, at 10:00 a.m., and another speech planned for next week.  Norton will not only review the history of the Home Rule Act, which was signed into law by Republican President Richard Nixon on December 24, 1973, she will use the occasion to expose the repeated attempts by Republican Members, who violate their local control principles, to overturn local D.C. laws.