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News Clips

Bloomberg, Tuesday, March 31, 2015
(RECAP: When a parking space in Manhattan costs $136,000 and only 15 percent of San Francisco's homes are affordable for the middle class, it's easy to worry that another housing bubble is around the corner. The vast majority of American homeowners have little to fear: A new gauge from Nationwide Insurance in Columbus, Ohio, suggests the national market is in its best shape since 2001 and there's no reason to fear a national downturn, no less a bursting bubble.)
Mortgage Professional America , Monday, March 30, 2015
(RECAP: U.S. Senator Mike Crapo has introduced a bill that would make the Consumer Financial Protection Bureau (CFPB) subject to new a regulatory process. The legislation would make the CFPB eligible for review under the 10-year regulatory review. Under the current regulation, both the CFPB and Dodd-Frank are exempt from review. “Rather than predetermine which rules should or should not be reviewed, this legislation will require the federal financial regulators to review all existing regulations, including Dodd-Frank and CFPB rules,” Crapo said. “This review is only meaningful if we identify the biggest challenges for community banks and credit unions and provide real solutions.”)
The MReport , Monday, March 30, 2015
(RECAP: Bank of America continues to add video to the way they interact with customers, with video mortgage bankers being the newest venture for the Charlotte, North Carolina based bank, according to an article by the News & Observer. This year the bank plans to increase the number of branches equipped with video from 180 to 300. Customers can use the screens to talk to specialty bankers offering mortgages, small business loans or investment products.)
CD CityBizList , Monday, March 30, 2015
(RECAP: Arlington Mill Residences, owned and developed by the Arlington Partnership for Affordable Housing (APAH) was named Multi Family New Construction Project of the Year, as part of EarthCraft Virginia’s 6th Annual Sustainable Leadership Awards, the organization’s yearly awards presentation to recognize Virginia leaders in the adoption of green, sustainable housing. Opened in 2014, Arlington Mill Residences is 100% affordable with 39 apartments renting to households who are very low income and 83 apartments designated for low income residents earning 60% of the Area Median Income (or $64,000 for a family of four).)
Reuters, Friday, March 27, 2015
(RECAP: Federal Reserve Chair Janet Yellen signaled that the U.S. central bank will likely start raising borrowing costs later this year, even before inflation and wages have returned to health, but emphasized the return to normal interest rates will be gradual. The Fed has held short-term borrowing costs near zero since December 2008. After the first rate increase, Yellen said, a further, gradual tightening in monetary policy will likely be warranted. If incoming data fails to support the Fed's economic forecast, the path of policy will be adjusted, she said.)
ARL Now, Friday, March 27, 2015
(RECAP: The proportion of Arlington households making at least $200,000 annually has tripled in the past decade. In 2000, less than 6 percent of Arlington households made $200,000 or more. The largest income group in the county was those making between $75,000 and $99,999 (about $100,000-$135,000 in 2013 dollars, according to the county). In 2013, more than 18 percent of the county was earning $200,00 or more — which is more than any other income group. The second-biggest segment is the $75,000-$99,999 group, at less than 13 percent of the county’s population.)
DSNews , Friday, March 27, 2015
(RECAP: A U.S. congresswoman has introduced a bill to establish a secondary reserve fund for Fannie Mae and Freddie Mac. The bill, introduced by Representative Marsha Blackburn (R-Tennessee), seeks to "amend the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish a secondary reserve fund for a housing enterprise under conservatorship to protect taxpayers against loss in the event of a housing downturn, and for other purposes." The secondary reserve could also be referred to as an escrow account, where funds are held until a resolution is created on GSE reform. The bill would establish a secondary reserve by inserting the new language into the existing statutes.)
Bloomberg, Wednesday, March 25, 2015
(RECAP: Americans in their 20s and early 30s are getting a nudge toward homeownership a decade after sales peaked during the housing bubble. It’s not their nagging parents. It’s rents. They’ve risen so much that buying is making more sense. Purchases by younger buyers are likely to grow gradually as millennials work through hurdles such as student debt, lack of down-payment funds and later family formation than previous generations.)
CNN, Wednesday, March 25, 2015
(RECAP: Do consumers and investors need to be worried about another housing bubble? Hopefully, the answer is no. But the question can't be ignored.)
RealEstateRama, Wednesday, March 25, 2015
(RECAP: The public will have multiple opportunities in the coming months to weigh-in on a draft Affordable Housing Master Plan and Implementation Framework through a series of meetings, events and on-line engagement, the Arlington County Board agreed during a recent work session. The Board reviewed the drafts, which outline affordable housing goals, objectives, policies and tools to meet the community’s shifting needs, in a March 23 work session with the County Manager and the Affordable Housing Study Working Group.)
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