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VHC News Clips, volume 2010-08 (August 26, 2010)
Public Housing Overhaul Approved
Charlottesville Daily Progress, August 23
(RECAP: The board of the Charlottesville Redevelopment and Housing Authority has unanimously adopted the master plan that will guide the extensive overhaul of Charlottesville 's public housing in hopes of creating a range of housing types and increasing residents' quality of life.)Grant Makes Home Affordable for Prince William Teacher
InsideNoVA.com, August 22
(RECAP: It may not be much to look at now, but in November a Prince William County school teacher will have a newly renovated home that he can finally afford. Sam Schiccantano recently was awarded a federal housing grant by the state to purchase of his single family home in Dale City .)Economists See Signs of Turnaround, as Foreclosures Rise
The News & Advance, August 22
(RECAP: Reports from the Federal Reserve Bank of Richmond show that while the foreclosure rate has increased significantly in the past year, it also has signs of slowing.)Richmond Seeks to Reduce the Number of Vacant Properties
Richmond Times-Dispatch, August 21
(RECAP: About 800 properties in the city of Richmond are vacant and uninhabitable. An additional 800 could be lived in but need work. And 800 other vacant properties are in good condition, said Rachel O. Flynn , director of planning and development for Richmond .)Seniors' Concerns: Housing, Taxes - Surovell and Puller survey Mount Vernon seniors.
Mount Vernon Gazette, August 19
(RECAP: Fully aware of the growing senior population in Northern Virginia and in particular the legislative districts which they represent in the General Assembly, state Sen. Toddy Puller and Del. Scott Surovell recently collaborated on a survey to find out what issues most concerned their senior citizen constitutents.)Fitch: Largest US Banks Could Lose Up to $42B
The Associated Press, August 18
(RECAP: Fitch Ratings said Wednesday the four largest U.S. banks could book losses of up to $42 billion if Fannie Mae and Freddie Mac force them to take back troubled mortgages they originated.)Banks May Face $134 Billion Loss on Loan Refunds, Compass Says
Bloomberg, August 18
(RECAP: Bank of America Corp. and JPMorgan Chase & Co. are among 11 lenders that could suffer $133.8 billion in combined losses as mortgage-bond investors and insurers demand refunds for soured loans, according to an analysis by Compass Point Research and Trading LLC.)Social Agenda True Hurdle to US Housing Finance Reform
Reuters, August 18
(RECAP: Social agendas remain the stumbling block for the “fundamental change” demanded on Tuesday by the Obama administration as it tries to fix a housing finance system central to a crisis rivaled only by the Great Depression.)As Housing Market Swoons, Rentals Boom in Norfolk
The Virginian-Pilot, August 17
(RECAP: The housing market may be struggling, but apartment construction in Norfolk continues to boom with an expected 80-unit, $20.7 million upscale apartment development called the Meadowood Apartments to be constructed off North Military Highway .)Fed Plans Disclosure Rule on Mortgage Payments
MarketWatch, August 16
(RECAP: The Federal Reserve on Monday issued a package of rules and proposals for mortgages, including a measure that would require lenders to disclose to borrowers how their mortgage payments can change over time.)More Borrowers Opt for ‘Cash-In' Refinancing
The New York Times, August 13
(RECAP: As the nation continues to endure the slow, painful correction of the cash-out refinancing boom, another trend may be emerging: cash-in refinancing -- where borrowers put extra money into a transaction to obtain cheaper loans and pay down debts.)Bank Repossessions of Properties in Richmond Area Rose in July
Richmond Times-Dispatch, August 12
(RECAP: In Richmond, banks took over 363 properties in July, up 95 percent from the same month a year ago and a 27 percent increase from June 2010, according to an online foreclosure research report.)9 Smart Ways to Come Up with Down-Payment Cash
U.S News and World Report, August 12
(RECAP: Although cheaper prices and record-low mortgage rates have made home buying increasingly attractive, tight lending standards continue to keep consumers on the sidelines. Here are nine ways that consumers can get their hands on the down payment cash they need to purchase a home.)Victims of Defective Drywall Demand Meeting with Governor
Daily Press, August 10
(RECAP: Victims of defective Chinese drywall demand an audience with Gov. Bob McDonnell at a meeting of the Defective Drywall Task Force.)Qualifying for FHA Loan Likely to Get Tougher
The Virginian-Pilot, August 9
(RECAP: Homebuyers in Hampton Roads have relied on loans insured by the Federal Housing Administration but in an effort to shore up its balance sheet, the agency is planning measures that would limit the number of people who can qualify for their loans.)Freddie Mac Seeks $1.8 Billion in Aid after Loss
Bloomberg Businessweek, August 9
(RECAP: Freddie Mac, the mortgage company operating under federal conservatorship, is seeking $1.8 billion in aid from the U.S. Treasury Department after a fourth straight quarterly loss.)House Lawmaker Calls for Probe of Fannie Mae Allegations
Reuters, August 7
(RECAP: The top Republican on the House Financial Services Committee called for an investigation into charges that mortgage finance giant Fannie Mae pushed borrowers into a mortgage aid program so it could receive incentive payments from the U.S. government.)Fannie Mae, Freddie Mac Losing Political Support as U.S. Reshapes Housing Finance System
Washington Post, August 7
(RECAP: On Aug. 17, the Treasury Department is hosting a conference of financial companies, housing advocates, academics and other interested parties to begin discussing how to design a new system that doesn't rely as much on taxpayers.)Risks Abound if Too Many Refinance
Associate Press, August 6
(RECAP: Ushering in a housing refinancing boom would only be a short-term fix for the housing market and the economy that would have long-term consequences.)U.S. Treasury-More HAMP Homeowners Falling Behind
Reuters, August 6
(RECAP: The Obama administration on Friday acknowledged it had underestimated the number of homeowners who fell seriously behind on their mortgage payments even after getting government help.)Fannie Mae Retires HomeSaver Advance Program
Housing Wire, August 5
(RECAP: Fannie Mae will eliminate its HomeSaver Advance (HAS) Program effective September 30.)Fannie Mae Unveils Consumer Website for Borrowers
Associated Press, August 3
(RECAP: Mortgage company Fannie Mae is introducing a website to help consumers who are struggling to avoid foreclosure learn about ways to get help.)Virginia Develops Statewide Housing Policy Framework
Governor Monitor, August 3
(RECAP: Governor Bob McDonnell announced a new website has been developed for his Housing Policy Advisory Committee.)Fannie Mae Offers Borrowers Hardship Relief
The New York Times, July 30
(RECAP: Fannie Mae, which sets lending standards for most mortgages, will begin easing its policies for those facing what it calls “unique hardships.”)Moody's Questions Feasibility of Fannie Mae's Strategic Default Policy
DSNews.COM, July 26
(RECAP: Fannie Mae announced new policy changes intended to deter financially competent homeowners from walking away from their mortgage obligation by imposing stiffer penalties for strategic default.)News Clips Archives
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