Monthly Archives: December 2010

Washington, D.C. - December 28, 2010 - (RealEstateRama) -- Proposed changes to home lending rules from the Federal Reserve Board not only exceed its authority, but could actually encourage predatory lending targeted at the elderly.

Washington, DC - December 28, 2010 - (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 4.42 percent based on loans closed in November. This is a decrease of 0.07 percent from the previous month.

Chicago, IL - December 28, 2010 - (RealEstateRama) -- The National Association of REALTORS® has invested in Ifbyphone through its strategic investment fund, Second Century Ventures. As part of the arrangement, NAR is also collaborating with Ifbyphone to develop solutions that enhance voice interactions for its more than 1.1 million REALTOR® members.

ST. PAUL, MN - December 27, 2010 - (RealEstateRama) -- The Minnesota Department of Public Safety Office of Pipeline Safety urges everyone to check gas meters on their homes and other buildings to be sure they stay free of ice and snow accumulation that can block the regulator vent.

LANSING, MI - December 27, 2010 - (RealEstateRama) -- A recently released report shows homeownership counseling networks in Michigan and nationwide are bringing significant relief to over a million families struggling to avoid foreclosure, Michigan State Housing Development Authority (MSHDA) Executive Director Gary Heidel announced today. MSHDA is part of a national effort through the National Foreclosure Mitigation Counseling (NFMC) program bringing major counseling assistance to over a million families.

December 27, 2010 - (RealEstateRama) -- The Department of Energy, Labor & Economic Growth's (DELEG) Bureau of Energy Services Director Amy Butler, today announced that DELEG is awarding five different grants $15,000 each for Home Seminars and Tours projects. Home Seminars and Tours projects provide hands on examples for citizens on how to make homes more energy efficient

Washington, DC - December 27, 2010 - (RealEstateRama) -- 2010 has been a year of real estate contrasts. While many consumers have taken advantage of historic buying opportunities and the market has seen a gradual stabilization of sales and prices, other challenges facing the nation have led some to question the value of home ownership for families, communities, and the country.

Olympia, WA - December 24, 2010 - (RealEstateRama) -- The Washington State Department of Financial Institutions (DFI) is pleased to announce a settlement has been reached in a consumer protection case regarding Countrywide Home Loans (CHL) that has been ongoing for more than two years

BOSTON, MA - December 24, 2010 - (RealEstateRama) -- The Federal Home Loan Bank of Boston announced that a North Smithfield initiative will receive nearly $1.3 million through its Affordable Housing Program. These funds, awarded as a grant, loan, and interest-rate subsidy, will be used to finance 38 units of affordable rental housing for households at or below 60 percent of area median income

BOSTON, MA - December 24, 2010 - (RealEstateRama) -- The Federal Home Loan Bank of Boston announced that a Manchester initiative will receive more than $2.1 million through its Affordable Housing Program. These funds, awarded in the form of a grant, loan, and interest-rate subsidy, will be used to finance 26 units of affordable rental housing for formerly homeless veterans earning at or below 50 percent of area median income.

BOSTON, MA - December 24, 2010 - (RealEstateRama) -- The Federal Home Loan Bank of Boston announced that three Massachusetts initiatives will receive more than $6.2 million in grants, loans, and interest-rate subsidies through its Affordable Housing Program. These funds will be used to finance 139 units of affordable rental housing for households earning at or below 80 percent of area median income.

BOSTON, MA - December 24, 2010 - (RealEstateRama) -- The Federal Home Loan Bank of Boston announced that five Connecticut initiatives will receive more than $8.8 million in grants, loans, and interest-rate subsidies through its Affordable Housing Program. These funds will be used to finance 157 units of affordable rental and ownership housing for households earning at or below 80 percent of area median income

WASHINGTON, DC - December 23, 2010 - (RealEstateRama) -- U.S. Rep. Bill Pascrell, Jr. (D-NJ-8) today announced a U.S. Housing and Urban Development grant of $42,866 to the Paterson Housing Authority for the agency’s housing counseling program.

COLUMBUS, OH - December 23, 2010 - (RealEstateRama) -- In a letter sent today to the Federal Reserve's Board of Governors, Ohio Attorney General Richard Cordray urged the Fed to maintain existing protection for homeowners who currently have the right to undo loan agreements where material disclosures were not made, in violation of the law. The existing provisions that protect a consumer's right to rescind such loan agreements – including mortgage loan agreements – could be greatly weakened through a proposed rule now under consideration by the central bank

BEDFORD, N.H. - December 23, 2010 - (RealEstateRama) -- New Hampshire Housing’s Single Family Mortgage Program will soon be celebrating 35 years of service! To help mark this milestone, the agency is seeking success stories from its current and past clients to show the world how this program has allowed real people to achieve their dreams.

Albany, NY - December 23, 2010 - (RealEstateRama) -- New York State home sales continued to slow in November, falling by more than 8 percent from October and by nearly 32 percent from the November 2009 sales pace, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price continued to rebound from a year ago.

NEW YORK, N.Y. - December 23, 2010 - (RealEstateRama) -- Mortgage rates pulled back slightly this week, with the average rate on the benchmark conforming 30-year fixed mortgage rate receding to 4.96 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.46 discount and origination points.

McLean, VA - December 23, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its (PMMS®), which found that both fixed-rate mortgage rates eased slightly this week. The 5-year hybrid ARM dropped back slightly, but the 1-year ARM rates were up

McLean, VA - December 23, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today issued the company's Monthly Volume Summary for November 2010. The summary, available on the company's Web site at, provides information on Freddie Mac's mortgage-related portfolios, securities issuance, risk management and delinquencies, including data on seriously delinquent mortgage loans in related mortgage Participation Certificate (PC) pools.

EUGENE, OR - December 23, 2010 - (RealEstateRama) -- IDX, Inc. is pleased to announce Ro Malik is the latest real estate professional to adopt IDX Broker software for his website. Now more than ever before, Chicago, Illinois home seekers can experience a thorough and comprehensive online property search right on the IDX enabled website Malik supports. The convenient search capabilities are backed by the Midwest Real Estate Data (MRED) listings, which display thousands of detailed property listings instantly on the website Malik has synced with an IDX solution. He can now give his clients the most innovative property search experience available to potential buyers searching for homes online.

Jackson MS - December 23, 2010 - (RealEstateRama) -- As family and friends gather to celebrate the season Commissioner of Insurance and State Fire Marshal Mike Chaney encourages all Mississippians to take the time to contemplate potential fire hazards, home mishaps and understand how your insurance might apply

WASHINGTON, D.C. - December 23, 2010 - (RealEstateRama) -- Sales of newly built, single-family homes increased 5.5 percent to a seasonally adjusted annual rate of 290,000 units in November, according to newly released figures from the U.S. Commerce Department. The gain represents a partial bounce-back from a near-record low, downwardly revised number of new-home sales in October.

BOSTON, MA - December 23, 2010 - (RealEstateRama) -- A Melrose-based realty trust and its manager violated Massachusetts law by allegedly posting a discriminatory rental advertisement on the popular classified advertising website Craigslist.org (“Craigslist”), according to a lawsuit filed by AG Coakley’s Office. The complaint, filed in Suffolk Superior Court against Mt. V.M. Realty Trust (“Mt. V.M.”) and Nicholas Keramaris, alleges that they violated state anti-discrimination, lead paint, and consumer protection laws by placing an advertisement on Craigslist which referred to the lead status of an apartment and refused to rent it to families with young children

MONROE, LA - December 23, 2010 - (RealEstateRama) -- Today, Governor Bobby Jindal joined Benchmark Bank Chairman and CEO Mike Barnett, Affiliated Mortgage Co. President Dan Hastings and Monroe Mayor Jamie Mayo to announce that Benchmark Bank’s subsidiary, Affiliated Mortgage Company (AMC) of West Monroe, has committed to retain and expand its operations in Northeast Louisiana.

ORLANDO, FL - December 23, 2010 - (RealEstateRama) -- Sales of existing condominiums in Florida rose 10 percent in September, with a total of 5,675 condos sold statewide compared to 5,140 units sold in September 2009, according to the latest housing data released by Florida Realtors®.

Alexandria, VA - December 23, 2010 - (RealEstateRama) -- The initial period for federal registration of residential mortgage loan originators under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“SAFE Act”), 12 U.S.C. 5101–5116, is expected to begin on or around January 31, 2011, and end on or around July 29, 2011. The National Credit Union Administration, along with the Federal Deposit Insurance Corporation, Federal Reserve Board, Office of the Comptroller of the Currency, Office of Thrift Supervision, and Farm Credit Administration will publish an announcement on our respective Web sites confirming the start date of this registration period shortly before the period begins, followed by a notice published in the Federal Register

WASHINGTON, DC - December 23, 2010 - (RealEstateRama) -- Today, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced that more than 3,800 children are safe from dangerous lead-based paint hazards and other health and safety risks due to grants from the American Recovery and Reinvestment Act of 2009 and HUD’s Office of Healthy Homes and Lead Hazard Control.

WASHINGTON, DC - December 23, 2010 - (RealEstateRama) -- In an effort to help families find decent housing and to prevent future foreclosures, the Obama Administration today announced nearly $73 million in housing counseling grants to more than 500 national, regional and local organizations. As a result of the funding announced today, hundreds of thousands of households will have a greater opportunity to find housing or keep the homes they have because of the housing counseling and counseling training grants awarded today by U.S. Housing and Urban Development Secretary Shaun Donovan.

EUGENE, OR - December 23, 2010 - (RealEstateRama) -- IDX, Inc. is pleased to announce Donald Olson has adopted a custom IDX solution for his website. He can now supply his clients with the home search they deserve, thanks to his newly IDX enabled website. Trend MLS listings are now seamlessly integrated onto his search page, giving potential buyers utilizing his website thousands of options and detailed listings conveniently on his website.

WASHINGTON, D.C. - December 23, 2010 - (RealEstateRama) -- The National Association of Home Builders (NAHB) applauds the Occupational Safety and Health Administration’s (OSHA) decision to withdraw the interim fall protection guidelines for residential construction that were issued in 1995 and revert to the previous guidelines.“Job site safety is the number one priority for builders,” said NAHB Chairman Bob Jones, a home builder from Bloomfield Hills, Mich. “This action will clarify what actions builders need to take to comply with OSHA regulations while helping to ensure safer work sites.”