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VHC News Clips, volume 2010-02 (July 15, 2010)
Scholarships for Nonprofits Available to Governor's Housing Conference
(RECAP: The Governor's Housing Conference connects Virginia 's affordable housing providers with funders, lenders, realtors, nonprofits, public officials and resources to improve housing in Virginia 's communities. The sponsors of this year's Governor's Housing Conference have set aside funds to be used as scholarships for nonprofit organizations. This scholarship allows one representative from each nonprofit organization chosen to attend. Applications are due by August 18 th .)Housing Report Shows Improvement, but Worries Persist
Daily Progress, July 13
(RECAP: Central Virginia home sales rose 19 percent in the first half of 2010 compared to the same period last year and median prices stabilized, stopping a year-long downward slide, according to a market report compiled by the Charlottesville Area Association of Realtors.)Embattled Housing Nonprofit: 'We will continue'
washingtonpost.com, July 12
(RECAP: Robert Pierre Johnson Housing Development Corp. sent an open letter assuring its supporters, donors and volunteers that it is here to stay, despite its unsteady finances and debarment in Fairfax County .)VB to Receive Funding for Homeless
WAVY.com, July 12
(RECAP: The City of Virginia Beach will receive $118,087 in new, ongoing funding from the U.S. Department of Housing and Urban Development to assist the homeless.)White House Says Changes to Fannie, Freddie on Deck
Reuters, July 11
(RECAP: The Senate is expected to vote this week on a massive overhaul of the rules of Wall Street, which imposes a range of tough new restrictions on the industry in an effort to avoid a repeat of the 2007-2009 financial crisis.)N.Va. Nonprofit's Plight Puts Low-Income Housing at Risk
Washington Post, July 10
(RECAP: More than 100 low-income Northern Virginia families are at risk of losing their taxpayer-subsidized housing as Alexandria-based RPJ Housing struggles financially after fraud allegations, according to the nonprofit and government officials.)Taking the Hit-or-Miss Out of a Short Sale
The Washington Post, July 10
(RECAP: Home Affordable Foreclosure Alternatives, a federal government program, provides a platform for the orderly short sale to proceed using standardized documents, enforceable deadlines and providing a way for homeowners to use a deed-in-lieu of foreclosure solution if they are not successful finding a short-sale buyer.)To Boost Quality, Fannie Mae Calls for Experienced Appraisers
The Washington Post, July 10
(RECAP: Lenders unilaterally may be lowering the numbers on the appraisals submitted to them, in order to avoid accusations that the loans they sell to giant investors Fannie Mae or Freddie Mac are based on inflated appraisals.)Goldman Sachs Sued by Liberty on Fannie Mae Offering
Bloomberg Businessweek, July 9
(RECAP: Goldman Sachs Group Inc. was accused in a lawsuit by Liberty Mutual Insurance Co. of misleading investors in 2007 when it sold Fannie Mae preferred shares while betting against the U.S. mortgage market.)Congress Returns to Face Legislative Backlog; Advocates Push for Action on Priorities NLIHC's Memo to Members, July 9
(RECAP: The Senate returns from the July 4 recess July 12 and the House on July 13 with many housing-related issues still unresolved and a short legislative calendar in which to complete their work. Housing related issues on the agenda include: National Housing Trust Fund; Low Income Housing Tax Credit program; Section 8 Voucher Reform Act; Preservation of Assisted Housing; and more.)PETRA Forums Scheduled
NLIHC's Memo to Members, July 9
(RECAP: The Center on Budget and Policy Priorities, Abt Associates, and the Urban Institute will host three joint briefings on the Admin istration's proposed Preservation, Enhancement and Transformation of Rental Assistance Act initiative.)Finding a Refuge in Ginnie Mae Funds
The New York Times, July 9
(RECAP: In the depths of the financial crisis in 2008, many real estate, stock and corporate bond investments plummeted but there was another haven: funds that invest in mortgage-backed securities guaranteed by the Government National Mortgage Association, or Ginnie Mae.)Insight Property Group Acquires $9.9 Million Virginia Workforce Housing Community
PRNewswire, July 9
(RECAP: Built in the mid 1990's, the Windover community was originally financed by tax exempt debt from the Virginia Housing Development Authority and housing tax credits. The recent purchase was completed with financing including a Fannie Mae first trust.)U.S. 30-Year Mortgage Rates Decline to Record 4.57%
Bloomberg Businessweek, July 8
(RECAP: Mortgage rates for 30-year U.S. loans fell to the lowest on record for the third straight week, reducing borrowing costs for homebuyers as unemployment and foreclosures weigh on demand.)Wells Fargo to Cut 3,800 Jobs, Stop Subprime Loans
Wall Street Journal, July 8
(RECAP: Wells Fargo & Co. said it will shut down a unit that makes what the San Francisco bank calls "non-prime" real estate, auto and credit card loans and stop originating nonprime mortgages, eliminating a total of 3,800 jobs.)PCS Project Offers Alternative to Jail f or Adults with Mental Illnesses
Martinsville Bulletin, July 5
(RECAP: A Jail Diversion Project is offering alternative housing and support services to adults with mental illnesses. Piedmont Community Services began the project last fall after it received a $250,000 grant from the Virginia Department of Behavioral Health and Developmental Services “to support housing for adults with mental illnesses who are involved with or at risk of involvement with the criminal justice systems,” according to PCS information.)From the Big House to a New House
The Virginian-Pilot, June 28
(RECAP: Nearly 1,300 inmates managed to score a total of $9.1 million through a recent federal program designed to boost housing sales, according to the Treasury Department's inspector general for tax administration.)News Clips Archives
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