Archives

WASHINGTON, D.C. - September 30, 2013 - (RealEstateRama) -- Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement after receiving confirmation from the Obama administration on Friday that the Federal Housing Administration (FHA) will require a taxpayer-funded bailout of $1.7 billion:

WASHINGTON, D.C. - September 26, 2013 - (RealEstateRama) -- Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement concerning reports that the Federal Housing Administration will require a bailout:

WASHINGTON, D.C. - September 24, 2013 - (RealEstateRama) -- Thank you so much for having me here today as you discuss the aftermath of the financial crisis and the future of banking regulation. I know many of you are interested to know what is on our agenda at the Consumer Financial Protection Bureau, so I would like to describe where we have been and where we are going

WASHINGTON, D.C. - September 20, 2013 - (RealEstateRama) -- Legislation to be introduced by Senator Dawn Marie Addiego and Assemblyman Chris Brown acknowledges the sacrifices of the surviving spouses of certain 100 percent disabled Veterans by extending to them the realty transfer fee exemption

WASHINGTON, D.C. - August 22, 2013 - (RealEstateRama) -- Today, the Consumer Financial Protection Bureau (CFPB) issued a report detailing mortgage servicing problems at banks and nonbanks. The report also found that many nonbanks lack robust systems for ensuring they are following federal laws

Casper - August 19, 2013 - (RealEstateRama) -- A newly released report shows the Low-Income Housing Tax Credit (LIHTC) helped preserve and develop more than 270,000 affordable rental units in rural communities nationwide. The National Report, “The Low-Income Housing Tax Credit: Overcoming Barriers to Affordable Housing in Rural America,” was prepared by Rapoza Associates in partnership with five members of the National Rural Housing Coalition. Since the program’s inception, in 1986, the Wyoming Community Development Authority (WCDA) has used the LIHTC program to develop over 4,000 affordable rental housing units in 22 communities.

WASHINGTON, D.C. - August 19, 2013 - (RealEstateRama) -- On August 13, 2013, the Connecticut Housing Finance Authority Board of Directors approved an amendment to the 2013 Qualified Allocation Plan (QAP). The QAP is now pending approval by Governor Malloy.

SEATTLE - August 15, 2013 - (RealEstateRama) -- Southeast Effective Development (SEED) broke ground last week on 70 new affordable apartments and townhomes for seniors in south Seattle after successfully closing financing.

WASHINGTON, D.C. - August 14, 2013 - (RealEstateRama) -- The Justice Department announced today that the Townhomes of Kings Lake HOA Inc. (HOA) and Vanguard Management Group Inc. have agreed to pay $150,000 to settle a lawsuit alleging violations of the Fair Housing Act (FHA). The lawsuit alleged that the HOA adopted and both defendants enforced occupancy limits that discriminated against families with children at the Townhomes of Kings Lake, a 249-townhome community in Gibsonton, Fla

Washington, DC - July 31, 2013 - (RealEstateRama) -- National data show interest rates on mortgages continued their upward trend. Contract mortgage interest rates increased from May to June—up 0.15 percent from May, according to an index of new mortgage contracts

WASHINGTON, D.C. - July 24, 2013 - (RealEstateRama) -- Investigators working undercover in eight states detected significant violations of Federal Trade Commission consumer protection requirements in 23 of 127 funeral homes they visited during 2012.

Washington, DC - July 24, 2013 - (RealEstateRama) -- Three years after the Dodd-Frank Act failed to address the need for housing finance reform and end the record taxpayer-funded bailout of Fannie Mae and Freddie Mac, the Financial Services Committee today approved legislation to end their bailout and create a sustainable housing finance system for America

WASHINGTON, D.C. - July 22, 2013 - (RealEstateRama) -- The National Low Income Housing Coalition (NLIHC) reports that the full Senate may consider the Fiscal Year 2014 appropriations bill for HUD as early as Tuesday, July 23. Given spending cuts proposed by the House, many housing advocacy groups, including NLIHC, are urging constituents to contact their Senators to make sure a spending bill is considered and passed.

WASHINGTON, D.C. - July 22, 2013 - (RealEstateRama) -- Senator Mark Kirk voted today against the nomination of Congressman Mel Watt of North Carolina as Director of the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac. Despite Senator Kirk’s opposition, the nomination passed out of the Senate Banking Committee on a 12-10 party line vote and will proceed to the full Senate for a vote

New York, NY - July 9, 2013 - (RealEstateRama) -- “The first of two bills before me today is Introductory Number 906-A, sponsored at the request of our Administration by Council Members Recchia and Palma. This legislation moves the deadline to file annual Real Property Income and Expense statements from September 1st to June 1st.

WASHINGTON, D.C. - July 2, 2013 - (RealEstateRama) -- Assessor-Recorder-County Clerk Dennis Draeger signed the annual property assessment roll today. The assessment roll contained 817,635 parcels and is valued at $167,498,015,331. This is a net increase as compared to the 2012 assessment roll of 3%. A significant reason for the increase was the improvement in the real estate market and the recovery of values previously reduced under decline in market value provisions.

WASHINGTON, DC - July 1, 2013 - (RealEstateRama) -- Concerned by recent hearings that showed valuable vacant federal properties spoiling D.C. neighborhoods, Congresswoman Eleanor Holmes Norton (D-DC) today introduced a bill to require the General Services Administration (GSA) to provide immediate public notice of federal properties identified as excess to their needs. The early public notification will help eliminate GSA’s extended delays in using or disposing of federal properties for redevelopment, giving relief to taxpayers.

WASHINGTON, D.C. - June 18, 2013 - (RealEstateRama) -- In testimony today before the U.S. House of Representatives Committee on Education and the Workforce Subcommittee on Workforce Protections, Associated Builders and Contractors (ABC) General Counsel and shareholder with Littler Mendelson, P.C., Maurice Baskin said the Department of Labor’s (DOL) administration of the Davis-Bacon Act has, “hindered economic growth, increased the federal deficit and imposed an enormous paperwork burden on both contractors and the federal government.”

Washington, D.C. - June 13, 2013 - (RealEstateRama) -- The House Judiciary Committee today approved legislation by voice vote that prohibits state and local governments that receive federal economic development funds from using eminent domain to transfer private property from one private owner to another for the purpose of economic development, the Private Property Rights Protection Act (H.R. 1944). This legislation is in response to the 2005 Supreme Court decision in the case of Kelo v. City of New London, which gives local governments broad authority to seize private property under the guise of economic development just to generate tax revenue. The Private Property Rights Protection Act passed the House of Representatives in the 109th and 112th Congresses

ERIE COUNTY, NY - June 4, 2013 - (RealEstateRama) -- Today, Erie County Executive Mark C. Poloncarz was joined by Erie County Director of Real Property Tax Services Joseph L. Maciejewski, CCD, Town of Tonawanda Supervisor Anthony Caruana, and concerned citizens at 39 Fowler St. in Tonawanda as he outlined the foreclosure process in Erie County (“the County”), focusing on ways that homeowners can avoid being foreclosed on while underscoring Erie County’s commitment to ensuring the equitable spread of real property taxes across the County