News

WASHINGTON, D.C. - March 15, 2011 - (RealEstateRama) -- As the April 18 federal income tax filing deadline approaches, many American home owners are realizing the financial benefits of homeownership—savings that can add up to tens of thousands of dollars over several years."The mortgage interest deduction is one homeownership tax incentive that has been part of the tax code for nearly 100 years," said Bob Nielsen, chairman of the National Association of Home Builders and a home builder from Reno, Nev. "Incentives such as this have helped millions of American families be able to afford a home of their own."

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

WASHINGTON, D.C. - March 15, 2011 - (RealEstateRama) -- After four consecutive months hovering at the same low level, builder confidence in the market for newly built, single-family homes improved by a single point in March, rising to 17 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest level the HMI has reached since May 2010, when the survey period corresponded with the final days of the federal home buyer tax credit program.

San Francisco, CA. - March 14, 2011 - (RealEstateRama) -- International law firm Nixon Peabody LLP has expanded its Affordable Housing practice on the West Coast with the arrival of new partner Tuan Pham. Mr. Pham joins Nixon Peabody’s San Francisco office from Goodwin Procter, where he also served as the hiring partner for the San Francisco office and a co-chair of the West Coast Diversity Committee.

Washington, DC - March 14, 2011 - (RealEstateRama) -- NeighborWorks America, one of the largest community development corporations and the sponsor of one hundred full-service Home Ownership Centers around the U.S., today announced that more than 16,700 families became homeowners last year through the efforts of NeighborWorks organizations.

WASHINGTON, D.C. - March 11, 2011 - (RealEstateRama) -- "The Secret Millionaire" features nonprofit organizations working in poor communities all around the country. It films what the organizations do and the people they impact. In this week’s episode, a "volunteer" comes to help YouthBuild Detroit, which is sponsored by Young Detroit Builders. Tune in for the wonderful surprise ending for YouthBuild Detroit and Young Detroit Builders.

WASHINGTON, D.C. - March 11, 2011 - (RealEstateRama) -- Responding to widespread evidence of improper accounting, unwarranted fees, false documentation, and arbitrary foreclosure decisions, the 50 state Attorneys General are crafting a long-overdue plan to hold the mortgage servicing industry accountable. The plan would address accusations that banks and servicers have engaged in illegal and negligent servicing practices that have been a continued drag on the U.S. housing market and economy.

WASHINGTON, DC - March 11, 2011 - (RealEstateRama) -- Millions of U.S. families face health and safety hazards like mold, lead, pest infestation and the physical deterioration of their homes. These problems are particularly common among some of the nation’s most vulnerable populations: children, seniors, the disabled and low-income families.

Washington, DC - March 11, 2011 - (RealEstateRama) -- Congress needs to strengthen and reauthorize the National Flood Insurance Program for the long term to prevent undermining the fragile real estate market recovery, the National Association of Realtors® said in testimony today before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity.

WASHINGTON, D.C. - March 11, 2011 - (RealEstateRama) -- The National Association of Home Builders (NAHB) today voiced strong support for congressional efforts to extend the National Flood Insurance Program (NFIP) for an additional five years to provide ongoing flood insurance protection for property owners and ensure the nation's real estate markets operate smoothly and without delay.Testifying before the House Financial Services Subcommittee on Housing and Community Opportunity, NAHB First Vice Chairman Barry Rutenberg, a home builder from Gainesville, Fla., said that the home building industry depends upon the NFIP to remain available, affordable and financially sound.

Washington, D.C. - March 10, 2011 - (RealEstateRama) -- The Independent Community Bankers of America (ICBA) issued the following statement today regarding the release of the state attorneys general foreclosure settlement term sheet. "While much of Wall Street has already recovered from the financial fallout, many of America's Main Street communities continue to struggle with its harsh effects. The last thing these communities need is further deterioration of their already fragile housing markets and economies caused by these proposed settlement terms that would delay legitimate foreclosure actions and permit bankruptcy judges to reduce mortgage balances.

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, D.C. - March 10, 2011 - (RealEstateRama) -- Today, U.S. Senators Jim DeMint (R-South Carolina) and Bob Corker (R-Tennessee), both members of the Senate Banking Committee, and Tom Coburn, M.D. (R-Oklahoma), a member of the Senate Finance Committee, introduced legislation to end the Housing Affordable Modification Program (HAMP).

BISMARCK, ND - March 10, 2011 - (RealEstateRama) -- The North Dakota Housing Finance Agency (NDHFA) has secured a $174,677 U.S. Department of Housing and Urban Development (HUD) grant, ensuring households statewide will have access to homebuyer education and/or housing counseling services in 2011.

WASHINGTON, DC - March 10, 2011 - (RealEstateRama) -- Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a hearing on the state of the nation’s housing market. The Committee heard from industry leaders and experts, and discussed the current condition and challenges facing the housing market.

March 10, 2011 - (RealEstateRama) -- The State Housing Board works to establish uniform construction and maintenance standards for hotels, motels, multiple dwellings and factory-built housing. The Board also develops for submittal to the General Ass...

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 10, 2011 - (RealEstateRama) -- America’s cities are better prepared to be sustainable economic engines according to a new report just released by the Department of Housing & Urban Development. The report titled The American Recovery and Reinvestment Act: Working for America’s Cities found that the Recovery Act has helped position American cities to out-educate, out-innovate, and out-build our competitors. The collaborative and innovative approaches initiated during the implementation of the Recovery Act have laid the foundation for American cities to win the future.

WASHINGTON, D.C. - March 10, 2011 - (RealEstateRama) -- Two quarterly indices produced by the National Association of Home Builders (NAHB) indicate a return to healthy market conditions for both new and existing apartment and condominium buildings.The Multifamily Production Index (MPI), which tracks developer sentiment about new construction on a scale of 1 to 100, is at 40.8 –up more than 5 full points since the previous quarter and the highest number since the fourth quarter of 2006