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Washington, DC - March 29, 2011 - (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 4.79 percent based on loans closed in February. This is an increase of 0.08 percent from the previous month

WASHINGTON, D.C. - March 23, 2011 - (RealEstateRama) WHAT:The Mortgage Bankers Association (MBA) 2011 National Policy ConferenceOn March 30-31, 2011 the real estate finance industry will convene in Washington, D.C. to educate the Administration and the Congress on issues that matter most to our industry. MBA's National Policy Conference 2011 gives attendees the opportunity to speak directly to lawmakers about what they do in their community, as well as the practical effect proposed changes may have on their business and the industry

WASHINGTON, DC March 21, 2011 - (RealEstateRama) -- Today, the U.S. Department of the Treasury announced that it will begin the orderly wind down of its remaining portfolio of $142 billion in agency-guaranteed mortgage-backed securities (MBS). Starting this month, Treasury plans to sell up to $10 billion in agency-guaranteed MBS per month, subject to market conditions

WASHINGTON, DC - March 17, 2011 - (RealEstateRama) -- Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing entitled “The Administration’s Report to Congress: Reforming America’s Housing Finance Market.”

March 16, 2011 - (RealEstateRama) -- Financial pressures on contractors grew worse in February as prices for key construction materials rose sharply even as prices construction firms charge for completed projects remained stagnant, according to an analysis of producer price index figures released today by the Associated General Contractors of America (AGC). Association officials said the price squeeze will make it harder for the construction industry to recover and urged federal officials to act on a series of recovery measures the group outlined yesterday

Washington, DC - March 15, 2011 - (RealEstateRama) -- “Owning a home offers myriad benefits throughout the year, but some of the financial advantages of home ownership are most apparent at tax time,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “As many of today’s hard-working American families are feeling a financial squeeze, the tax benefits that can come from owning a home can be a welcome relief.”

WASHINGTON, D.C. - March 15, 2011 - (RealEstateRama) -- Chairman Johnson, Ranking Member Shelby, and members of the committee, thank you for the opportunity to testify this morning. Last month, we released a report outlining our vision of the next steps for reforming the housing finance market. My testimony today summarizes the content of that report

ASTORIA, NY - March 10, 2011 - (RealEstateRama) -- Congresswoman Carolyn B. Maloney (D?NY), New York City Council Speaker Christine Quinn, Former NYC Council Speaker Peter Vallone, Sr., Queens Borough President Helen Marshall, HPD Commissioner Rafael E. Cestero, Enterprise Community Partners, Citi, among others, joined HANAC, Inc., a nonprofit, multi?funded, citywide organization that serves local community residents, in opening today the HANAC George T. Douris Tower, a new green, mixed?use building providing affordable housing for seniors and community space for services that support them.

WASHINGTON, DC - March 10, 2011 - (RealEstateRama) -- Business Solutions, an American Bankers Association subsidiary, today announced that its Mortgage Solutions programs saved bankers over $27 million in 2010. The programs, designed to help community banks participate more successfully in the residential mortgage markets, were launched in 2001. Since that time, the banks have produced more than $160 billion in loans through the programs. In 2010, more than 1,000 ABA member banks elected to be a part of one or more of the 12 programs available through Mortgage Solutions.

WASHINGTON, DC - March 10, 2011 - (RealEstateRama) -- Banks are successfully managing agricultural loan risk associated with rising farmland prices, said Matthew H. Williams, president of Gothenburg State Bank in Gothenburg, Neb., and vice chairman of the American Bankers Association at an FDIC symposium on U.S. farmland prices held today.

Washington, DC - March 3, 2011 - (RealEstateRama) -- The total number of Fannie Mae and Freddie Mac completed foreclosure prevention actions in 2010 more than doubled from one year earlier, according to the FHFA’s Fourth Quarter 2010 Foreclosure Prevention & Refinance Report. Although loan modifications declined for the second consecutive quarter, refinancings through the Home

March 2, 2011 - (RealEstateRama) -- Even as 50,000 new foreclosures start every week, the House Financial Services Committee votes tomorrow on four bills to dismantle programs aimed at helping homeowners. Industry figures show that more households than ever are in some stage of foreclosure, with over five million mortgage holders now at risk of losing their homes. Avoiding unnecessary foreclosures and encouraging loan modifications will be key to economic recovery, as the nation is sorely missing the jobs and growth provided by a healthy housing market.

COLUMBIA, MD - February 25, 2011 - (RealEstateRama) -- Enterprise Community Investment, Inc. (Enterprise), a national leader in community development and affordable housing, today secured $62 million in New Markets Tax Credit (NMTC) allocation from the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund). Enterprise is one of 99 Community Development Entities receiving an allocation of the $3.5 billion in NMTC awarded as part of the Tax Relief, Unemployment Insurance Authorization and Job Creation Act of 2010. This new allocation brings Enterprise’s total NMTC awards to $672 million, $595.5 million of which has previously been invested in low-income communities nationwide, making it one of the largest allocatees of NMTCs in the country

WASHINGTON, D.C. - February 24, 2011 - (RealEstateRama) -- The Federal Reserve Board on Wednesday issued a final rule and requested public comment on a second rule under Regulation Z to revise the escrow account requirements for certain home mortgage loans. The revisions to the regulation, which implements the Truth in Lending Act (TILA), are being made pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act.

WASHINGTON, DC - February 24, 2011 - (RealEstateRama) -- U.S. house prices fell in the fourth quarter of 2010 according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted purchase-only house price index (HPI). The HPI, calculated using home sales price information from Fannie Mae- and Freddie Mac-acquired mortgages, was 0.8 percent lower on a seasonally adjusted basis in the fourth quarter than in the third quarter of 2010. The unadjusted national decline was 2.2 percent. Over the past year, seasonally adjusted prices fell 3.9 percent from the fourth quarter of 2009 to the fourth quarter of 2010

Washington, DC - February 24, 2011 - (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 4.71 percent based on loans closed in January. This is an increase of 0.13 percent from the previous month.

February 23, 2011 - (RealEstateRama) -- Turner Construction Company announced Karen Gould, 46, has joined the company as Senior Vice President and Chief Financial Officer. As the leader of Turner’s finance organization; Karen is responsible for building upon the finance teams’ strengths and keeping them consistent with the company’s focus and commitment towards people and customer service. In addition, Karen is responsible for maintaining the company’s strong balance sheet and providing strategic evaluations of growth opportunities and creating value for stakeholders

McLean, VA - February 17, 2011 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows a drop in long-term fixed rates this week

WASHINGTON, D.C. - February 16, 2011 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 11, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 9.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7.9 percent compared with the previous week.

McLean, VA - February 16, 2011 - (RealEstateRama) -- In the fourth quarter of 2010, fixed-rate loans accounted for more than 95 percent of refinance loans, based on the Freddie Mac (OTC: FMCC) quarterly Product Transition Report released today. Refinancing borrowers overwhelmingly chose fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or a fixed-rate.