Frank Leads Push to Disband Mortgage Corporations
Boston.com, January 31
(RECAP: Barney Frank has been one of the staunchest defenders of Fannie Mae and Freddie Mac and their mission to increase access to affordable housing. Now he's helping to lead the charge to dismantle the troubled mortgage giants.)

Fannie Mae, Freddie Mac Delinquencies Rise
The Sydney Morning Herald, January 30
(RECAP: Fannie Mae and Freddie Mac's home loan delinquencies rose 4.2 per cent in October and the companies modified more mortgages under President Barack Obama's anti-foreclosure program, the Federal Housing Finance Agency said.)

Homeowners Seek Relief in Drywall Suit
The Virginia Gazette, January 30
(RECAP: Evans and four neighbors have joined class-action litigation that began in New Orleans on Friday. Norfolk attorney Richard Serpe filed suit in federal court in May, representing more than 80 Virginia homeowners with Chinese drywall.)

Obama Housing Rescue Threatened by Foreclosures, Unemployment
Business Week, January 29
(RECAP: President Barack Obama's efforts to bolster the U.S. housing market, the trigger of the worst recession since the 1930s, may be undone by record unemployment and repossessions by lenders. )

What's the Deal with This House?
Culpeper Star Exponent, January 29
(RECAP: The town of Culpeper has long talked about the merits of attracting “affordable housing” to the area, but the unfinished dwelling that appeared on Evans Street months ago is not exactly what it had in mind. However, the builder of the conspicuous two-bedroom, two-bathroom skeletal home — marked in spray paint with ‘Affordable Houses' — says that's exactly what it is: an effort to build something that people can afford in this economy.)

Madison Heights Neighborhood in Newport News Rebounding
The Daily Press, January 29
(RECAP: Madison Heights is part of the city's effort to restore the southeast community, including the demolition of World War II-era public housing and the building of a planned mixed-use development spearheaded by Newport News native Aaron Brooks, a former New Orleans Saints quarterback.)

The Urbanist Case Against Fannie Mae and Freddie Mac
DC.Streetsblog, January 29
(RECAP: The Congress for the New Urbanism (CNU), an advocacy group working to reform local development practices, is seizing on House Financial Services Committee Chairman Barney Frank's (D-MA) recent call for a new system of housing finance to replace government-controlled Fannie Mae and Freddie Mac.)

Washington Street Property Could Sell, Paving Way for Affordable Housing Project
Falls Church Times, January 29
(RECAP: An existing roadblock to “The Wilden” affordable housing project on South Washington Street could fall away through a change of ownership of property adjacent to The Wilden site, according to information communicated to City officials today. )

Increasing Energy Efficiency in Public Housing Bill Introduced
from NLIHC's Memo to Members, January 29
(RECAP: Senator Al Franken (D-MN) introduced S. 2952, a bill that would create a grant program for greening federally assisted housing, on January 26.)

Mixed Signals on NHTF in Senate Jobs Bill
from NLIHC's Memo to Members, January 29
(RECAP: Senate leaders continue to figure out what form their jobs initiative will take. Last week, 25 Senators sent to a letter requesting that the bill include $1 billion to capitalize the National Housing Trust Fund and $65 million for project-based vouchers to be coupled with NHTF capital dollars. This would match the provisions in the House jobs bill passed in December.)

U.S. Poverty Becoming More Suburbanized
from NLIHC's Memo to Members, January 29
(RECAP: Poverty rates across the country are growing faster in the suburbs than in cities and rural areas, according to a new report from the Brookings Institution's Metropolitan Policy Program. As of 2008, the nation's suburbs housed nearly a third of the nation's low income people and were home to 1.5 million more people in poverty than the nation's cities.)

Mortgage Rates on 30-year Loans Fall to 4.98 Percent
Bloomberg News Service, January 28
(RECAP: Mortgage rates in the U.S. fell for a fourth week as lenders and the Federal Reserve sought to support home financing amid signs a housing rebound is stalling. )

U.S. Housing Market at Inflection Point: The “Old Normal ” Will Not Be Part of Recovery, Says New Research From the Urban Land Institute
RealEstateRama, January 28
(RECAP: As the U.S. economy recovers, emerging trends in demographics and consumer behavior will become major drivers of new housing opportunities, resulting in a residential market vastly different from the one that existed prior to the recession, according to Housing in America . )

Foreclosures and Falling Prices
Virginia Daily Press, January 28
(RECAP: The 2010 Hampton Roads real estate market will be made up of falling home prices, high inventory and a flood of foreclosures and short sales. )

Area Homebuyer Assistance Programs Alive and Well
Washington Examiner, January 27
(RECAP: Congress recently extended the deadline for the first-time homebuyer tax credit and introduced a new program to incentivize current homeowners with a $6,500 credit -- targeting both initiatives to expire April 30, 2010. )

Fairfax County Supervisors Approve Affordable Housing Plan
The Washington Post, January 27
(RECAP: Almost a year after gutting a public program in Fairfax County used to maintain and expand affordable housing, the wealthy Northern Virginia locality adopted a sweeping blueprint Tuesday to increase its support for affordable housing through developers, nonprofit organizations and faith-based groups while laying out an ambitious goal to end homelessness within the next decade. )

Is Change Coming to GSE Mortgage Servicing?
Housing Wire, January 22
(RECAP: The mortgage finance industry is abuzz over a rumored change to the way the government-sponsored enterprises Fannie Mae and Freddie Mac would assign and manage mortgage servicing rights.)

Developer Backs off Armstrong School Project
The News & Advance, January 26
(RECAP: A North Carolina-based developer said Monday he is dropping plans to redevelop the defunct Armstrong School in light of community opposition.)

 

Virginia Housing Agency Readies $107M Under NIBP
The Bond Buyer, January 25
(RECAP: The Virginia Housing Development Authority this week expects to sell $107.3 million of homeownership mortgage bonds as part of its second act under the Treasury Department's New Issue Bond Program.)

 

Building Work has Stopped on Hampton Housing Project Near the Coliseum
Daily Press, January 25
(RECAP: Construction work has stopped on a large subdivision of condos and town homes next to Hampton Coliseum at a time of concern over the financial situation of the developers.)

 

Loss-Laden Fannie Mae and Freddie Mac Face Extinction
Real Estate Channel, January 25
(RECAP: If Rep. Barney Frank has anything to do with it, Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) will be history by 2012.  Both agencies are near financial death.)

 

New Vision for Ettrick Takes Shape
The Richmond Times-Dispatch, January 25
(RECAP: Along with residents and the help of Virginia State University , Jacobson's office is working to revitalize Ettrick, starting with aesthetic and pedestrian streetscape improvements to the main thoroughfare, Chesterfield Avenue .)

 

Beach Initiative at Oceana Yields New Homes, Less Density Near Base
The Virginian-Pilot, January 25
(RECAP: The city began buying property around Oceana Naval Air Station in 2006 to roll back residential growth near the master jet base. In the past year, it has resold 22 of those lots to individuals and developers who have sometimes built houses even larger than those in the neighborhoods.)

 

Norris Sees Opportunity to Establish Housing Fund
Charlottesville Daily Progress, January 24
(RECAP: The third time could be the charm for Mayor Dave Norris' desire to establish a dedicated affordable housing fund in Charlottesville 's budget, ensuring that such programs would always be financed.)

 

Plan to Develop Old Armstrong School Property Criticized
The News & Advance, January 24
(RECAP: A proposal to transform the old Armstrong School property off Rivermont Avenue into a 60-unit apartment complex has drawn opposition from both Lynchburg planning commissioners and neighboring homeowners.)

 

Realtors Start Group Focused on Chinese-American Home Professionals Sun Gazette, January 24
(RECAP: The Northern Virginia Association of Realtors has announced creation of a new Chinese Realtor Forum, to provide real estate professionals of Chinese descent and their clients with information and support.)

 

Unique Proposal Would Give Former Smith School New Life
DELMARVA Media Group, January 23
(RECAP: Mary N. Smith School , the historic building attended by the county's African-American students before integration, could be reborn as a community-owned residential and recreational facility with the help of the man who developed Accomack Manor, an affordable apartment complex near Parksley.)

 

Federal Money for Hippodrome Overhaul Would Require Housing
Richmond Times Dispatch, January 23
(RECAP: The city of Richmond has tightened a proposal to use $600,000 in public funds to revitalize two landmarks in Jackson Ward. Mayor Jones is offering $281,000 in an economic-development grant from the city, plus $319,000 from its share of federal HOME funds, which are used to create housing for low-income residents to help a developer convert the Hippodrome Theater and adjoining Taylor Mansion into a live-music and entertainment venue, with a restaurant, retail space and 31 apartments.)

 

Real Estate Values Drop in Henrico County , Richmond
The Richmond Times-Dispatch, January 23
(RECAP: The assessed value of real estate in Henrico County has declined by 8 percent, representing a loss of $2.8 billion in the past year. The drop is worse than Henrico officials had expected last fall, when they forecast an overall decline in assessed values of 6.5 percent.)

 

New Guidance Published on Banks' Responsibilities under the Protecting Tenants at Foreclosure Act
from NLIHC Memo to Members, January 22
(RECAP: The Office of the Comptroller of the Currency issued guidance on examination procedures that are to be used to determine a national bank's compliance with the Protecting Tenants at Foreclosure Act on January 8.)

 

Study: Regulations, Lack of Education Limit Manufactured Housing's Role in Providing Metropolitan Low Income Housing
from NLIHC's Memo to Members, January 22, 2010
(RECAP: A recent study prepared by the Center for Housing Research at Virginia Tech and published in the Journal of the American Planning Association concludes that while market factors such as land costs help determine to the number of manufactured homes in any given metropolitan area, regulatory restrictions and lack of education among officials also impede the placement of manufactured homes in urban areas.)  

 

Chesterfield Property Values Drop 4 Percent

The Richmond Times-Dispatch, January 22

(RECAP: Property values in Chesterfield County are down nearly 4 percent from last year, meaning county leaders would need to approve a 5-cent tax-rate increase to hold real estate revenue steady for the next fiscal year.)

 

Community Foundation Awards Grants in Homelessness-Prevention Drive
Sun Gazette, January 22
(RECAP: The Arlington Community Foundation has awarded eight grants, totaling $70,000, as part of an initiative to support homeless-prevention efforts in the county.)

 

Finding Shelter
Alexandria Gazette Packet, January 21
(RECAP: Here in Alexandria , the Carpenter's Shelter has seen a dramatically rising number of homeless families.)

 

Plan May Link Aging Boomers with Affordable Housing
Charlottesville Daily Progress, January 21
(RECAP: A community center for seniors near downtown Charlottesville might eventually turn into a piece of an affordable housing development catering mostly to elderly residents.)

 

Hampton Roads Foreclosures have Risen at Staggering Rate Since 2008

WTKR.com, January 21

(RECAP: The number of Peninsula-area properties facing foreclosure mushroomed from 86 in 2006 to 2,735 in 2009, according to figures provided by RealtyTrac, which monitors foreclosure activity.)

 

Many Numbers Point to Needs
Fairfax Connection, January 20
(RECAP: While on a percentage basis, Northern Virginia is better off than most of the rest of Virginia, in raw numbers, we have more people here who are unemployed, more people here who lack health insurance, more people who spend parts of most months without enough food on the table, more people who are homeless.)