Monthly Archives: August 2010

MILFORD, CT - August 26, 2010 - (RealEstateRama) -- Total Mortgage Services, LLC, a leading mortgage lender and broker, announced today that it has been named to the 2010 Inc. 5000 list of America’s Fastest Growing Companies. The company was ranked as number 2,815 on the Inc. 5000’s annual list with a three year growth rate of 79 percent.

Palos Verdes Peninsula, CA - August 26, 2010 - (RealEstateRama) -- In response to the overwhelming demand for assistance with hurricane insurance claim settlements and storm damage restoration, Paramount Disaster Recovery has set up the www.hurricane-claims.com web site to expedite the recovery process for residential and business owners. Hurricane victims now have immediate access to independent insurance adjusters and certified building contractors to ensure they receive the full amount they are due and quickly begin the storm damage restoration process.

EUGENE, OR - August 26, 2010 - (RealEstateRama) -- Re/Max Realty Affiliates and agent Joseph Chamoun have joined with IDX, Inc. is create an easy-to-use and efficient real estate search engine on his professional website. As a member of the Northern Nevada Regional MLS (NNRMLS) Chamoun can now supply his clients with a comprehensive database of property listings, to speed up the online search process for both agents and home seekers. The IDX solution now synced to his website gives potential buyers more control than ever before over the beginning phase of their online property search

Manchester, N.H. - August 26, 2010 - (RealEstateRama) -- At an event with homeowners and workers who benefited from the program, today in Manchester, New Hampshire, Vice President Joe Biden announced a major Recovery Act milestone – the weatherizing of 200,000 homes under the Recovery Act. As a result of the Administration’s unprecedented commitment to energy efficiency, more than 200,000 low-income families have been able to save money on their energy bills while saving energy, and thousands of people have been put to work

Portage, IN - August 26, 2010 - (RealEstateRama) -- Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has completed a long term lease renewal and expansion for a 469,000-square-foot industrial space located at 6750 Daniel Burnham Dr. in Portage, Ind. The value of the lease is in excess of $7 million. Justin Fierz and Brian Vanosky, both principals of Lee Chicago, represented the tenant, a global home décor manufacturing and distribution company, Hosley International Inc

McLean, VA - August 26, 2010 - (RealEstateRama) -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), and for yet another week, fixed-rate mortgages reached record lows, while the 5-year adjustable rate remained tied at its low for this survey. (The 30-year fixed-rate survey began in 1971, the 15-year began in 1991, and the 5-year adjustable in 2005

WASHINGTON, D.C. - August 26, 2010 - (RealEstateRama) -- The delinquency rate for mortgage loans on one-to-four-unit residential properties dropped to a seasonally adjusted rate of 9.85 percent of all loans outstanding as of the end of the second quarter of 2010, a decrease of 21 basis points from the first quarter of 2010, and an increase of 61 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. The non-seasonally adjusted delinquency rate increased two basis points to 9.40 percent this quarter from 9.38 percent last quarter.

Washington, DC - August 26, 2010 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today released its first Conservator’s Report on the Enterprises’ Financial Condition. The Conservator’s Report provides an overview of key aspects of the financial condition of Fannie Mae and Freddie Mac (the Enterprises) during conservatorship. The report will be released on a quarterly basis following the filing of the Enterprises’ financial results with the Securities and Exchange Commission (SEC).

Washington, DC - August 26, 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 4.78 percent based on loans closed in July. This is a decrease of 0.13 percent from the previous month. This Contract Rate series can be found at http://www.fhfa.gov/Default.aspx?Page=251.

Washington, DC - August 26, 2010 - (RealEstateRama) -- Commercial real estate sectors, hurt by weak job growth, are offering incentives in many areas that are conducive to business expansion, according to the National Association of Realtors

BINGHAMTON, NY - August 26, 2010 - (RealEstateRama) -- Mayor Matt Ryan today joined Binghamton Housing Authority Executive Director David Tanenhaus and community partners to cut the ribbon on a new eight-unit, handicap accessible, energy efficient, affordable housing project at 4-6 Lisle Avenue.

COLUMBUS, OH - August 25, 2010 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) Board today approved $1,926,628 of Tax Credit Exchange (TCE) dollars created in the American Recovery and Reinvestment Act (ARRA) together with more than $602,633 from OHFA's Housing Development Assistance Program (HDAP) and $2,213,669 from the Neighborhood Stabilization Program (NSP).

EUGENE, OR - August 25, 2010 - (RealEstateRama) -- Bethesda, Maryland real estate professional James Abadian and IDX, Inc. have teamed up to bring home seekers around Washington D.C. the most comprehensive property search available online. JBA Realty and its newly updated website automatically syncs Metropolitan Regional Information Systems (MRIS) listings directly with properties Abadian represents and the search page of his website. These tools make finding the perfect home all the more simple, thanks to the time saving-technology of the efficient and easy-to-use IDX Broker software on the website Abadian supports.

EUGENE, OR - August 25, 2010 - (RealEstateRama) -- Alaska MLS (AKMLS) listings just got easier to search for on the newly IDX enabled website of Les Bailey. IDX, Inc. and their premier software service allows home seekers to quickly scan thousands of property listings directly on his professional page. As a Keller Williams agent Bailey has long demonstrated his dedication to his clients and their successful home search. Now with IDX Broker software, all of his clients can demonstrate how easy it is to find the perfect property online

LOS ANGELES, CA - August 25, 2010 - (RealEstateRama) -- California home sales decreased 20.8 percent in July compared with the same period a year ago, while the median price of an existing home rose 10.4 percent from July 2009, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

WASHINGTON, D.C. - August 25, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 20, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 4.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 4.5 percent compared with the previous week

Washington, DC - August 25, 2010 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its mid-year ranking of commercial and multifamily mortgage servicers as of the end of June 30, 2010. Topping the list of firms is Wells Fargo with $462.8 billion in U.S. master and primary servicing, followed by PNC Real Estate/Midland Loan Services with $307.9 billion, Berkadia Commercial Mortgage with $202.6 billion, Bank of America Merrill Lynch with $133.4 billion and KeyBank Real Estate Capital with $124.7 billion

Washington, DC - August 25, 2010 - (RealEstateRama) -- Commissioner Gennet Purcell, Esq., of the DC Department of Insurance, Securities and Banking (DISB) today announced the indictment of Renaldo D. Gillis and Afolasade Orekoya for their leadership in an extensive mortgage fraud “flipping” scheme in the District of Columbia after a joint investigation with federal law enforcement.

WASHINGTON, DC - August 25, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced that it is charging Testa Family Enterprises, LTD, owner of Royal Arms Apartments in Ravenna, Ohio, and the complex’s manager with housing discrimination for allegedly refusing to rent certain apartments to families with young children. HUD’s charge alleges that manager Christine Testa and Testa Family Enterprises, LTD, violated the Fair Housing Act by limiting or refusing to rent to families with small children.

WASHINGTON, DC - August 25, 2010 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development announced today that it is making $189 million in grants available to transform public and assisted housing and to revitalize communities. Appearing in today’s Federal Register are the Notices of Funding Availability, the federal application, for two revitalization initiatives: The Choice Neighborhoods FY 2010 and the HOPE VI FY 2010. Both applications can be accessed at www.grants.gov.

Washington, DC - August 25, 2010 - (RealEstateRama) -- Five years after the devastating hurricanes that ravaged New Orleans and much of the Gulf Coast, many organizations have stepped in to help rebuild the city, placing emphasis on resilience, sustainability and economic prosperity. The U.S. Green Building Council (USGBC), the driving force of the green building industry in America, has also made rebuilding New Orleans green a key priority. Through USGBC’s LEED green building certification program, hundreds of homes, schools and commercial buildings are being rebuilt to be high-performance, resource-efficient, durable and healthier places for the people of New Orleans who occupy them. Below is a report of USGBC’s efforts since 2005.

STATEHOUSE, IN - August 25, 2010 - (RealEstateRama) -- Foreclosures are still a major concern for many homeowners and neighborhoods across Indiana with lenders taking action against another 4,876 borrowers in July, state figures showed.

WASHINGTON, D.C. - August 25, 2010 - (RealEstateRama) -- Sales of newly built, single-family homes declined 12.4 percent to a seasonally adjusted annual rate of 276,000 units in July, according to data released by the U.S. Commerce Department today. This was the lowest sales rate for new homes on record."Today's report, though not unexpected, is disappointing in view of the improvement in sales activity that we saw in June," said Bob Jones, chairman of the National Association of Home Builders (NAHB) and a home builder from Bloomfield Hills, Mich. "Potential home buyers have become very hesitant due to uncertainty about the economy and job market, and are putting off the decision to buy until they feel more confident."

WASHINGTON, DC - August 24, 2010 - (RealEstateRama) -- U.S. Senator Bingaman today announced that two New Mexico communities will receive federal housing grants through the U.S. Housing and Urban Development.

New York, NY - August 24, 2010 - (RealEstateRama) -- While the number of foreclosures continues to seriously outpace the number of loan modifications being made, there are reasons to be optimistic about the performance of those loan modifications. According to a report issued today by the State Foreclosure Prevention Working Group, recent loan modifications are performing better than modifications made earlier in the mortgage crisis.

SCOTTSDALE, AZ - August 24, 2010 - (RealEstateRama) -- Coldwell Banker Residential Brokerage has tapped Lynn Murtagh as the new manager of its Scottsdale Carefree office. Currently the manager of the Coldwell Banker Pinnacle Peak office, in her new role, she will oversee operations of the two offices in the region, which encompasses over 100 sales professionals.

NEW YORK, NY - August 25, 2010 - (RealEstateRama) -- Chase announced today that it has offered more than 900,000 mortgage modifications to struggling homeowners since the beginning of 2009 through a wide range of government and Chase initiatives to address the housing crisis.

CLEVELAND, OH - August 25, 2010 - (RealEstateRama) -- At a time when more and more low-income Ohioans are in need of housing they can afford, the Ohio Green Communities initiative is working across the state to help ensure that as many apartments as possible meet an energy efficient green standard.

Irvine, CA - August 24, 2010 - (RealEstateRama) -- In his new position within the company’s Irvine office, he manages a portfolio of existing communities throughout Orange County. Paine is currently pursuing his Certified Community Association Manager (CCAM®) designation through the California Association of Community Managers (CACM®)

Chicago, IL - August 24, 2010 - (RealEstateRama) -- Jaclyn Janssen has joined the national real estate law firm Pircher, Nichols & Meeks as a litigation attorney within its Chicago office. In her new position, she will focus on litigating matters in the areas of real estate development, acquisitions, dispositions, financing, leasing, foreclosures and constructions.