Investing

WASHINGTON, D.C. - April 14, 2011 - (RealEstateRama) -- In the wake of a settlement between 14 U.S. mortgage servicers and foreclosed homeowners, U.S. Sen. Sherrod Brown (D-OH) introduced landmark legislation to prevent future servicer fraud and errors, improve foreclosure counseling and prevention, and reform oversight of mortgage-based investing.

April 121, 2011 - (RealEstateRama) -- PREET BHARARA, the United States Attorney for the Southern District of New York, announced that STEVEN BYERS, the former president and chief executive officer of the private equity firm WexTrust Capital, LLC (“WexTrust Capital”), was sentenced today to 160 months in prison on charges stemming from a fraud that raised more than $9 million from investors in private placement real estate offerings. BYERS, 48, was sentenced in Manhattan federal court by U.S. Court of Appeals Judge DENNY CHIN.

Tallahassee, FL - April 121, 2011 - (RealEstateRama) -- Today, Attorney General Pam Bondi filed a complaint against a home loan modification company for allegedly requiring consumers to pay an upfront fee for services. According to an investigation by the Attorney General’s Office, U.S. Mitigators, LLC, a company providing home loan modification services, was allegedly requiring consumers to pay an upfront fee of $2,100 before services were rendered. Many consumers reported paying the $2,100 fee and an additional $399 application fee for services they never received. The Attorney General’s complaint against the company seeks more than $48,000 in restitution for consumers

Atlanta, GA - April 8, 2011 - (RealEstateRama) --On April 6, 2011, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with BDK Mortgage & Investments, Inc. (“BDK Mortgage”), License Number 11800, Nationwide Mortgage Licensing System Number 166983, located at 201 Tallman Drive, Martinez, Georgia 30907 and its owners, Jackie H. Spires and James Spires, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency rules.

MORENO VALLEY, CA - April 7, 2011 - (RealEstateRama) -- CT Realty Investors of Aliso Viejo, Calif., has acquired a 225,000-square-foot warehouse/distribution building located on the grounds of the March Air Reserve Base at 16875 Heacock in Moreno Valley, Calif., from March Philmar, LLC.

WASHINGTON, DC - April 7, 2011 - (RealEstateRama) -- HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, released its February 2011 loan modification data, which shows that an estimated 87,000 homeowners received permanent, affordable loan modifications from mortgage servicers for the month.

West Hartford, CT - April 6, 2011 - (RealEstateRama) -- The Connecticut Real Estate Investors Association, or CT REIA, in association with Robert Shemin, is announcing a new all-day weekend seminar for real estate investors. This event will take place on Saturday April 16, 2011, from 9:00am to 4:30pm at the Crowne Plaza Hotel, 100 Berlin Road, Cromwell, CT. Pricing for this event varies and is dependent on which ticket option is chosen

Washington, DC - April 5, 2011 - (RealEstateRama) -- Wells Fargo Bank was the top commercial/multifamily mortgage originator in 2010, according to a set of listings released today by the Mortgage Bankers Association (MBA). Other originators in the top 10 include HFF, L.P.; Meridian Capital Group, LLC.; CBRE Capital Markets, Inc.; Prudential Mortgage Capital Company; MetLife Real Estate Investments; Deutsche Bank Commercial Real Estate; PNC Real Estate; Northmarq Capital, LLC; and Berkadia Commercial Mortgage LLC

HOBOKEN, N.J. - April 4, 2011 - (RealEstateRama) -- George Vallone, President of The Hoboken Brownstone Company, will headline a new forum designed to provide owners of contaminated properties the opportunity to market their assets to the real estate development industry at the 2011 National Brownfields Conference April 3rd-5th in Philadelphia.

Washington, DC - March 30, 2011 - (RealEstateRama) -- The market share of vacation- and investment-home sales1 held steady in 2010, although the sales volume declined with the overall market, according to the National Association of Realtors®.

West Hartford, CT - March 29, 2011 - (RealEstateRama) -- The Connecticut Real Estate Investors Association, or CT REIA, in association with Robert Shemin, is announcing the April 2011 CT REIA monthly meeting for real estate investors. This event will take place on Monday April 11, 2011, from 5:30pm to 9:00pm at the Crowne Plaza Hotel, 100 Berlin Road, Cromwell, CT. This event is free for CT REIA members and $30 for not-yet-members.

ALISO VIEJO, CA - March 29, 2011 - (RealEstateRama) -- Stefan Manolakas, a longtime developer of commercial, residential and mixed-use projects in Northern California, has joined the CT Realty Investors board of directors. Manolakas represents the third addition to the real estate investment firm’s board of directors in the past few months.

NEW YORK, NY - March 28, 2011 - (RealEstateRama) -- Jones Lang LaSalle announced today that it has hired Wall Street veteran Kellogg Gaines to the firm’s Americas Capital Markets business as part of firm’s overall expansion of its dedicated Real Estate Investment Banking expertise. Gaines joins as a Managing Director in the New York office where he will work with Co-Heads and Executive Managing Directors Tom Fish, Tom Melody and Mike Melody to lead the firm’s debt and equity sourcing and loan origination business in the New York region.

West Hartford, CT - March 24, 2011 - (RealEstateRama) CT REIA and Robert Shemin presents: How Come That Idiot’s Rich And I’m Not? April 16, 2011. 9:00am to 4:30pm Crowne Plaza Hotel. 100 Berlin Road. Cromwell, CT $39 for CT REIA Members | $59 for not-yet-members

March 23, 2011 - (RealEstateRama) -- New research by the Center for Responsible Lending finds that banks and other loan servicers often foreclose when investors have more to gain from a loan modification. The study—“Fix or Evict? Loan Modifications Return More Value than Foreclosures”—also finds that the industry’s poor track record on loan modifications can’t be blamed on homeowners who re-default.

Los Angeles, CA - March 22, 2011 - (RealEstateRama) -- Colliers International, the second largest global real estate services organization, has recruited top senior brokers, Christopher Maling and David Maling, aka The Maling Brothers, in Downtown Los Angeles. They both specialize in investment sales.

Destin, FL - March 22, 2011 - (RealEstateRama) -- Nearly three years after the financial crisis erupted on Wall Street, in an over-whelming show of support a new opinion poll shows that Americans want those responsible for sending the U.S. economy into a tail-spin prosecuted by federal authorities.

West Hartford, CT - March 22, 2011 - (RealEstateRama) -- CT REIA and Robert Shemin presents: Secrets For Buying and Selling Real Estate April 11, 2011 – 5:30 to 9:00 PM Crowne Plaza Hotel. 100 Berlin Road. Cromwell, CT FREE for CT REIA and AOACT members | $30 for guests

Washington, D.C. - March 21, 2011 - (RealEstateRama) -- Seeking to increase investment in America's small businesses, Congresswoman Shelley Berkley (NV) and Congressman Devin Nunes (CA) have introduced H.R. 1147, The Community Recovery and Enhancement (CRE) Act. The bipartisan legislation provides a market-based incentive for private investments in distressed commercial property at a time when many owners and businesses are still struggling in the on-going economic downturn and are in need of new sources of capital.

Fontana, CA - March 17, 2011 - (RealEstateRama) -- Colliers International, the second largest global real estate services organization, recently completed the investment sale of the 66,800-square-foot multi-tenant project located at 7888 & 7898 Cherry Ave. Fontana, Calif. to a Orange County-based investor, Heritage Business Center Investment Group, LLC. The transaction is valued at $4.15 million.

LOS ANGELES, CA - March 17, 2011 - (RealEstateRama) -- Mark Larson, a Principal of Lee & Associates, has been named President of the Lee & Associates-Investment Services Group (Lee ISG), a commercial real estate investment brokerage and member of the Lee & Associates group of companies.

LINCOLN, NEB. - March 16, 2011 - (RealEstateRama) --The recently-released 2006-2010 CDBG Investments and Impacts brochure contains eye-opening statistics related to Nebraska’s strategic use of Community Development Block Grant (CDBG).

LINCOLN, NEB. - March 16, 2011 - (RealEstateRama) --The recently-released 2006-2010 CDBG Investments and Impacts brochure contains eye-opening statistics related to Nebraska’s strategic use of Community Development Block Grant (CDBG).

LINCOLN, NEB. - March 16, 2011 - (RealEstateRama) --The recently-released 2006-2010 CDBG Investments and Impacts brochure contains eye-opening statistics related to Nebraska’s strategic use of Community Development Block Grant (CDBG).

LINCOLN, NEB. - March 16, 2011 - (RealEstateRama) --The recently-released 2006-2010 CDBG Investments and Impacts brochure contains eye-opening statistics related to Nebraska’s strategic use of Community Development Block Grant (CDBG).

LINCOLN, NEB. - March 16, 2011 - (RealEstateRama) --The recently-released 2006-2010 CDBG Investments and Impacts brochure contains eye-opening statistics related to Nebraska’s strategic use of Community Development Block Grant (CDBG).

LINCOLN, NEB. - March 16, 2011 - (RealEstateRama) --The recently-released 2006-2010 CDBG Investments and Impacts brochure contains eye-opening statistics related to Nebraska’s strategic use of Community Development Block Grant (CDBG).

LINCOLN, NEB. - March 16, 2011 - (RealEstateRama) --The recently-released 2006-2010 CDBG Investments and Impacts brochure contains eye-opening statistics related to Nebraska’s strategic use of Community Development Block Grant (CDBG).

LINCOLN, NEB. - March 16, 2011 - (RealEstateRama) --The recently-released 2006-2010 CDBG Investments and Impacts brochure contains eye-opening statistics related to Nebraska’s strategic use of Community Development Block Grant (CDBG).

LINCOLN, NEB. - March 16, 2011 - (RealEstateRama) --The recently-released 2006-2010 CDBG Investments and Impacts brochure contains eye-opening statistics related to Nebraska’s strategic use of Community Development Block Grant (CDBG).