Archives

El Segundo, CA - July 11, 2011 - (RealEstateRama) -- Partner Engineering and Science, Inc. reports increasing activity in due diligence for sales of REO and non performing loans by banks, announced company President Joe Derhake. This significant jump in activity is yet another indication that the market appears to have bottomed, says Derhake. Many lenders kept these assets on balance sheet for fear of taking losses in a declining market. The increase in REO sales suggests that the brighter tomorrow that both lenders and opportunistic investors have been waiting for may have finally dawned

WASHINGTON, DC - July 8, 2011 - (RealEstateRama) -- Agriculture Secretary Tom Vilsack today announced that USDA is accepting applications to participate in a demonstration program to preserve and revitalize existing Multi-Family Housing projects financed by Rural Development.

WASHINGTON, D.C. - July 6, 2011 - (RealEstateRama) On Tuesday, July 5, 2011, the Mortgage Bankers Association (MBA) submitted the attached comment letter to Elizabeth Warren, Assistant to the President and Special Advisor to the Treasury Secretary urging the Bureau of Consumer Financial Protection to meet with key stakeholders as soon as possible on the second set of prototypes integrating Real Estate Settlement and Procedures Act (RESPA) and Truth in Lending Act (TILA) disclosures released by the Bureau of Consumer Financial Protection (Bureau) on June 27, 2011

West Hartford, CT - July 6, 2011 - (RealEstateRama) CT REIA, Than Merrill, and Bob Lachance presents: Wholesale and Pre-Foreclosures (1 day, 2 great speakers) July 16, 2011. 9:00am - 5:00 pm Crowne Plaza Hotel. 100 Berlin Road. Cromwell, CT $29 for CT REIA Members $39 for Not-Yet-Members

West Hartford, CT - July 1 30, 2011 - (RealEstateRama) -- Than Merrill gives you a step-by-step action plan for how to get started Wholesaling Real Estate and breaks down his investing business in detail so you can learn exactly how he has bought and sold over 500+ properties in the past 8 years. Unlike many teachers,Than and his team are actually actively investing in Real Estate in markets across the country from California to Connecticut to Florida. Their investing is documented on a hit reality TV show on A&E called "Flip This House."

New York, NY & Greenwich, CT - June 30, 2011 - (RealEstateRama) -- Cushman & Wakefield Sonnenblick Goldman and Starwood Property Trust (NYSE: STWD) jointly announced today the completion of a $23 million refinancing and arrangement of up to $13 million in construction financing for the City Club Hotel in Midtown Manhattan. The loan will allow for the construction of up to 66 additional rooms to be built above the existing small luxury hotel, home to Daniel Boulud’s DB Bistro Moderne, which occupies a prime location on 44th Street between Fifth and Sixth Avenues.

Washington, D.C. - June 30, 2011 - (RealEstateRama) -- Jack Hartings, president and CEO of The Peoples Bank Co. in Coldwater, Ohio, and a member of the Independent Community Bankers of America (ICBA) Executive Committee, today told Congress that the secondary mortgage market must be impartial and provide equitable access and pricing to all lenders regardless of size or lending volume. He also stressed that all originators must have the option to retain servicing after the sale of a loan.

WASHINGTON, DC - June 30, 2011 - (RealEstateRama) -- Kimberly Wize, a U.S. Housing and Urban Development (HUD) senior advisor for public housing programs, will serve as the new administrative receiver and one-person board of commissioners for the Virgin Islands Housing Authority (VIHA) effective July 1st. HUD announced Wize replaces Mirza Negron Morales, a HUD Deputy Regional Administrator, who served two years in this capacity.

Chicago, IL - June 29, 2011 - (RealEstateRama) -- The American Institute of Architects (AIA) today announced it would make available to potential investors a database of stalled building projects nationwide that make economic sense but which lack the financing to be completed.The AIA is announcing this commitment here today as a participating member at CGI America, the first conference of the Clinton Global Initiative solely dedicated to economic issues impacting the United States. The database should be available in coming months.

WASHINGTON, D.C. - June 29, 2011 - (RealEstateRama) -- CRL, the National Consumer Law Center and other groups yesterday filed a joint comment letter on why a new proposal by the Office of the Comptroller of the Currency makes no sense, will not stand up in court, and should be withdrawn. [Read the letter: http://www.responsiblelending.org/mortgage-lending/policy-legislation/regulators/comments-to-the-occ-we.html.]

Westborough, MA - June 29, 2011 - (RealEstateRama) -- Northland Residential’s continued focus on developing relationships with the highest performing mortgage professionals and real estate agents continues to pay off for their four properties: The Woodlands at Belmont, The Residences at Black Rock, The Villages at Brookside, and The Village at Seven Springs.

VIENNA, VA - June 28, 2011 - (RealEstateRama) -- The Financial Crimes Enforcement Network (FinCEN) today, in its First Quarter 2011 Mortgage Loan Fraud (MLF) analysis, reported that the number of MLF suspicious activity reports (SARs) rose to 25,485 up 31 percent from 19,420 in the first quarter of 2010. FinCEN attributes the increase to large mortgage lenders conducting additional reviews after receiving demands to repurchase poorly performing mortgage loans. In the first quarter of 2011, 86 percent of MLF SARs reported activities which occurred more than two years prior to the filing of the SARs.

WASHINGTON, DC - June 28, 2011 - (RealEstateRama) -- The American Bankers Association testified today on the need to ensure small banks have access to the secondary mortgage market, calling for workable and clear underwriting standards for all mortgage loans and a reduced government role in housing finance.

West Hartford, CT - June 27, 2011 - (RealEstateRama) -- The Connecticut Real Estate Investors Association, or CT REIA, in association with Bob Lachance, is announcing its July 2011 monthly meeting for real estate investors. This seminar will also celebrate CT REIA’s 8th anniversary. This seminar will take place on Monday July 11, 2011, from 5:30 pm to 9:00 pm at the Crowne Plaza Hotel, 100 Berlin Road, Cromwell, CT. This seminar is free for CT REIA members and $30 for not-yet-members. There will be plenty of raffle prizes, giveaways, and networking opportunities for attendees.

WASHINGTON, DC - June 24, 2011 - (RealEstateRama) -- Rep. Gary Miller (R-CA) today announced plans to introduce a bill to reform the nation’s mortgage finance system during a policy summit convened by the National Housing Conference (NHC). About 200 people attended the event at the Columbus Club in Washington, D.C., where Miller offered views on the importance of the government-sponsored enterprises (GSEs) in providing access to credit for Americans.

WASHINGTON, D.C. - June 24, 2011 - (RealEstateRama) -- Good morning. Thank you, Maureen, for that kind introduction, and thanks to the National Housing Conference for inviting me here this morning. I’m glad to have the opportunity to talk about the future of housing finance, and also to hear your thoughts on how we can best move forward.

Washington, DC - June 22, 2011 - (RealEstateRama) -- U.S. house prices rose 0.8 percent on a seasonally adjusted basis from March to April, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.3 percent decrease in March was revised to a 0.4 percent decrease. For the 12 months ending in April, U.S. prices fell 5.7 percent. The U.S. index is 19.3 percent below its April 2007 peak and roughly the same as the January 2004 index level.

WASHINGTON, DC - June 22, 2011 - (RealEstateRama) -- As a national underwriter of the American Bankers Association Housing Partners Foundation's upcoming build, Federal Home Loan Bank of Dallas has committed a sponsorship toward the future home of a Texas family in need. The Foundation is sponsoring a Habitat for Humanity home build in a new San Antonio development during ABA's annual convention in October 2011.

Washington, DC - June 20, 2011 - (RealEstateRama) -- As the country struggles economically, the future shape of the mortgage finance system remains a central question, as do questions about Fannie Mae, Freddie Mac and role of government in general. The question of how most Americans will finance their housing choices in a post-bubble world hangs in the balance. To consider the choices and help chart a course forward, the National Housing Conference (NHC) will host its annual Policy Summit on mortgage finance reform Friday, June 24, from 8:00 a.m. to 12:30 p.m. at the Columbus Club in Union Station. The event is open to members of the media.

Washington, DC - June 17, 2011 - (RealEstateRama) -- The level of commercial/multifamily mortgage debt outstanding remained essentially unchanged at $2.4 trillion in the first quarter of 2011, decreasing by 0.1 percent from fourth quarter 2010, according to the Mortgage Bankers Association’s (MBA) analysis of the Federal Reserve Board Flow of Funds data.