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News Clips

National Mortgage Professional , Thursday, April 16, 2015
(RECAP: The thorny issue of affordable housing—or, to be more precise, the lack thereof—was in the spotlight this morning as the House Financial Services Committee’s Subcommittee on Housing and Insurance held a hearing entitled “The Future of Housing in America: Increasing Private Sector Participation in Affordable Housing.” Leading experts in the affordable housing sector offered their views on where the private sector can help alleviate problems that cannot be wholly solved by government agencies.)
Fairfax Times , Wednesday, April 15, 2015
(RECAP: During last week’s budget hearings, representatives of the nonprofit organizations that work with the county on housing and related programs tried to make the case that the county’s social safety net is an essential part of the basic infrastructure just like schools and roads. Fairfax County has been making progress toward its plans to expand the availability of affordable housing and reduce homelessness, advocates say. While the current budget essentially holds the line on housing programs, they want to ensure that the momentum and focus of the last few years continues to grow.)
Charlottesville Tomorrow, Wednesday, April 15, 2015
(RECAP: The commission heard updates on Oliver Kuttner’s proposed nine-story apartment building near the Downtown Mall and the William Taylor Plaza project off Ridge Street and Cherry Avenue. Kuttner wants to build 229 apartments, 5,000 square feet of office space, and 4,000 square feet of retail. He said most of the units will be between 450 and 700 square feet and the building will be built in phases. He said he hopes all units will be below $1,000 a month including utilities.)
NCSHA, Tuesday, April 14, 2015
(RECAP: HUD announced today the recipients of just over $34 million in Housing Counseling program grants for fiscal year (FY) 2015. The funding will go to 270 different housing counseling agencies. The three agencies in Virginia include VHDA, Catholic Charities USA in Alexandria and the National Council on Aging in Arlington and total $2,039,624.)
CNBC , Tuesday, April 14, 2015
(RECAP: Rents are rising while interest rates remain low, yet young Americans are still largely choosing to rent instead of buy. Home rent costs have jumped 14 percent since 2010, and are expected to rise another 3.3 percent this year, to year to an average of $1,161, according to commercial property tracker to Reis Inc. Real estate agent Joan Kamens said high student loan debt is preventing adequate debt to income ratios required by lenders for a mortgage. Lifestyle habits are a significant contributor as well.)
NCSHA, Tuesday, April 14, 2015
(RECAP: Earlier today, HUD published a notice in the Federal Register announcing it will be establishing the Housing Counseling Federal Advisory Committee (HCFAC). The Committee, authorized under the Dodd-Frank Wall Street Reform Act, will advise HUD’s Office of Housing Counseling about how it can best utilize its resources to provide more borrowers with HUD-approved counseling services. The notice also solicits nominations for individuals to serve on HCFAC.)
HousingWire , Tuesday, April 14, 2015
(RECAP: Tuesday afternoon House members from both parties voted 286-140 to pass H.R. 685, the Mortgage Choice Act of 2015, reintroduced earlier this year after dying in the last Congress despite bipartisan support. Supporters say that by amending the definition of points and fees in this manner, the legislation will: promote the availability of safe and affordable mortgage credit, maintain a competitive marketplace, prevent higher prices or the withdrawal of affiliated title service providers in low- and moderate-income marketplaces, and preserve the ability of consumers to choose the benefits of one-stop shopping when they purchase or refinance their home. The measure now goes to the Senate.)
Inside NOVA, Tuesday, April 14, 2015
(RECAP: The Washington metropolitan area has expanded. The federal government’s Office of Management and Budget has added Culpeper and Rappahannock counties to those included in the metro corridor, which in federal-government lexicon is known as the “Washington-Arlington-Alexandria, DC-VA-MD-WV Metropolitan Statistical Area.” With the new inclusions, the Virginia portion of the Washington metro area consists of 11 counties (Arlington, Clarke, Culpeper, Fairfax, Fauquier, Loudoun, Prince William, Rappahannock, Spotsylvania, Stafford and Warren) and six cities (Alexandria, Fairfax, Falls Church, Fredericksburg, Manassas and Manassas Park).)
Inside NOVA, Monday, April 13, 2015
(RECAP: That’s the projection of the Metropolitan Washington Council of Governments, which expects the region’s population to rise from 5.05 million in 2010 to 6.62 million in 2040 – a growth rate of 31 percent. The projections, presented to the COG board of directors in February, anticipates the most significant growth to occur in two bands – the “central jurisdictions” of the District of Columbia, Alexandria and Arlington, and the outer suburbs. Each of those categories are expected to experience growth rates of more than 40 percent during the 30-year period.)
Richmond Times-Dispatch , Monday, April 13, 2015
(RECAP: Developers hope to take orders for single-family homes at the new Libbie Mill mixed-use development in Henrico County by the end of the year, a developer said Monday. Nearly 1,100 apartments and nearly 1,000 single-family homes are approved for the development between Libbie Avenue and Staples Mill Road just north of West Broad Street, plus commercial space.)
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