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News Clips

The Washington Post, Wednesday, June 21, 2017
(RECAP: Do we always need an appraiser to tell us what a house is worth? The country’s two biggest sources of mortgage financing — Freddie Mac and Fannie Mae — think not. With no formal public announcement, Freddie Mac on June 19 began phasing in its plan to transition to appraisal-free mortgages for certain loan applications.)
CBS News, Wednesday, June 21, 2017
(RECAP: The housing market crash, which started in 2007 and kicked off the Great Recession, blighted both the financial and real estate industries. Among the many participants whose reputations were ruined, few took more damage than the mortgage brokers who sold adjustable-rate mortgages. Known as ARMs, they became a four-letter word within the industry. But nine years after their fall from grace into near oblivion, ARMs are making a slow, but steady, comeback.)
WHSV-TV3, Monday, June 19, 2017
(RECAP: A Valley domestic violence shelter is hoping to further expand their services after receiving a substantial amount of money from a statewide grant. Governor Terry McAuliffe (D-Virginia) announced last week $83.3 million would be awarded to programs and services assisting the Virginia criminal justice system. First Step, Inc., in Harrisonburg, is set to receive more than $280,000.)
Washington Business Journal, Thursday, June 15, 2017
(RECAP: Market-rate Affordable Housing, or MARK as Arlington calls it, are units affordable to households earning up to 60 or 80 percent of the area median income not because the government requires it, but because of a property's age, location, condition and/or amenities. Those units, largely found in garden-style and mid-rise communities, are disappearing at an alarming rate.)
Augusta Free Press, Thursday, June 15, 2017
(RECAP: Governor Terry McAuliffe today announced $2 million in funding for six housing rehabilitation programs covering the Central, Eastern Shore, Piedmont, Shenandoah Valley, and Tidewater regions of the Commonwealth. The funds will provide zero-percent deferred loans for rehabilitation of 51 to 63 owner-occupied modest homes in targeted areas of rural Virginia.)
Housingwire, Wednesday, June 14, 2017
(RECAP: In order to help borrowers be more prepared, and even expand the pool of eligible homebuyers, Fannie Mae explained homeowner education and housing counseling must play a critical role. However, the company explained consumers and even some lenders see homeownership education courses as simply an inconvenience.)
The Richmond Times-Dispatch, Wednesday, June 14, 2017
(RECAP: The Better Housing Coalition will receive a $2.25 million boost from state resources to transform the former Quality Inn at 3200 W. Broad St. into a mixed-income apartment complex for families. The nonprofit affordable-housing developer will be awarded the money through a competitive Vibrant Community Initiative grant and will use the funds to underwrite the development of the property along an entire block in the rapidly evolving Scott’s Addition area of Richmond.)
Augusta Free Press, Monday, June 12, 2017
(RECAP: Governor Terry McAuliffe today announced $2.25 million in Vibrant Community Initiative funding for a housing and community development project in the City of Richmond. The Better Housing Coalition will receive funds for a comprehensive community-based strategy expanding the availability of affordable housing and creating more opportunity for community residents to succeed.)
The Washington Post, Friday, June 09, 2017
(RECAP: The escalating cost of construction and dramatic changes in how affordable housing is ­financed are leading Alexandria officials to consider modifying a requirement to replace any of its 1,150 public housing units that are redeveloped with equally priced apartments.)
WSLS-TV10, Tuesday, June 06, 2017
(RECAP: The city of Roanoke has a new opportunity to grow. Throughout the years, Roanoke has relied on brownfields grants through the EPA to spur economic development. And now with a $200,000 one on the way, the city is getting to work.)
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